Most Popular
-
1
[Weekender] Geeks have never been so chic in Korea
-
2
N. Korea says it test-fired tactical ballistic missile with new guidance technology
-
3
NewJeans members submit petitions over court injunction in Hybe-Ador conflict
-
4
[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
-
5
S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
-
6
[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
-
7
US military commander in S. Korea during Gwangju uprising dies
-
8
US expert says N. Korea might ignore Trump if he returns to White House
-
9
[Photo News] Seoul seeks 'best sleeper'
-
10
Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
-
LG posts 82% growth in Q3 operating profit
LG Electronics announced Tuesday it posted 82.2 percent growth in operating profit for the third quarter of this year compared to a year earlier. According to the smartphone and home appliance maker’s preliminary earnings, it recorded a 15.2 percent increase to reach 15.23 trillion won ($ 13.4 billion) in consolidated sales during the July-September period compared to the same period last year. Its operating profit climbed 82.2 percent to reach 516.1 billion won during the period. Models introd
TechnologyOct. 10, 2017
-
Seoul stocks close higher on tech gains
South Korean stocks closed higher Tuesday as Samsung Electronics and other tech stocks advanced on expectations of healthier earnings. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index climbed 39.34 points, or 1.64 percent, to close at 2,433.81. Trade volume was moderate at 218 million shares worth 7.25 trillion won ($6.37 billion). After closing for 10 days for Chuseok and other public holidays, the local stock market opened higher. South Korean offi
MarketOct. 10, 2017
-
Hike in penalties against financial firms approved
South Korea's Cabinet on Tuesday approved raising fines that can be slapped against financial firms over violations in public disclosures, state regulators said. Under the tougher rules, fines will be raised by about two to three times their current levels from Oct. 19 if financial firms violate relevant laws on public disclosures or obstruct probes by financial authorities, the Finance Services Commission said in a statement. Along with the tougher regulation, the Cabinet approved nine other re
EconomyOct. 10, 2017
-
Chaebol's split affiliates to be required to report transactions
The antitrust regulator said Tuesday it will require split affiliates of family-run business conglomerates, or "chaebol," to report their transactions with parent group affiliates from December. The Korea Fair Trade Commission said that if unfair transactions with parent groups are found among affiliates, it can seek to cancel the split. The watchdog, however, said that while it will keep closer tabs on certain activities, affiliates of chaebol that have effectively splintered off from their par
IndustryOct. 10, 2017
-
Recalled goods producers required to inform public through SNS, TV ads: FTC
The government said Tuesday it has revised regulations to require manufacturers of recalled products to provide consumers with timely information of problems found through SNS messages and TV commercials.The new regulations also stipulate automobiles, livestock products, manufactured goods, bottled water, cosmetics and consumer chemical products should have health hazard classification, the Fair Trade Commission said.Only foods, medicine, medical equipment and health foods are currently subjecte
EconomyOct. 10, 2017
-
SKC, Evonik seek HPPO partnership
SKC, a chemical arm of SK Group, said Tuesday that it is in talks with German chemical firm Evonik for a strategic partnership.Evonik, a licensor of hydrogen peroxide to propylene oxide (HPPO) technology, is the inventor of the HPPO technology, which employs hydrogen peroxide as an oxidizing agent to oxidize propylene, which produces only water as a byproduct, the company said.The South Korean firm, for its part, is seeking a partnership to introduce the HPPO technology and enter the operation a
IndustryOct. 10, 2017
-
Innisfree VP named Amorepacific CEO
South Korean cosmetics giant Amorepacific has appointed Ahn Sae-hong, vice president of its sub brand Innisfree, as its new CEO, the company said Tuesday.The company named the new CEO and other executives as part of its efforts to tackle growing business uncertainty and adapt itself to a fast-changing market environment. Innisfree VP Ahn Sae-hong (Amorepacific)Ahn joined Amore Group, a predecessor of Amorepacific, in 1986. He has served as vice president of Innisfree since early 2014.The company
IndustryOct. 10, 2017
-
Korea's consumer goods losing ground in China
China's imports of consumer goods from South Korea all shrank except for a handful of products despite a rise in demand for similar goods made in other countries, a report from a trade group said Tuesday.The report from the Beijing office of the Korea International Trade Association said South Korea accounted for 3 percent of all consumer goods imported by China in the January-July period of this year. Detailed data for the top 20 consumer products showed that global shipments to China during th
EconomyOct. 10, 2017
-
‘Disaster broadcasts unable to reach most of Korea’s underground subways, tunnels’
Amid persistent military tension on the Korean Peninsula, a survey suggested that South Korea is ill-prepared to deliver radio broadcasts to key underground locations including subway stations and road tunnels during disasters and emergencies. A report released Tuesday by Rep. Shin Kyumg-min of the ruling Democratic Party of Korea found there was poor radio connectivity in 88 percent of South Korea’s road tunnels and subway stations. The survey was compiled by the state-run Korea Communications
TechnologyOct. 10, 2017
-
Daewoong’s new BTX production plant obtains regulatory approval
South Korea’s Daewoong Pharmaceutical said Tuesday that its newly-constructed botulinum toxin production plant in Hwaseong, Gyeonggi Province, has received local regulatory clearance. The Korean Ministry of Food and Drug Safety has granted Good Manufacturing Practice approval to Daewoong’s new plant designed to manufacture Nabota, the drugmaker’s botulinum toxin. With the addition, Daewoong now possesses two plants able to collectively produce 5 million vials of the wrinkle-fighting drug. If nee
IndustryOct. 10, 2017
-
Finance chief appeals for religious taxation
South Korea's finance chief expressed thanks to a Confucian leader Tuesday, following a positive response to the idea of levying taxes on local clergy.Finance Minister Kim Dong-yeon delivered his appreciation in Seoul to Kim Young-geun, head of Sung Kyun Kwan, a body that advocates for Confucianism. Sungkyunkwan was a Confucian academy in the Joseon Dynasty (1392-1910). Kim also said he will listen to any concerns about the religious taxation that is set to take effect in January. The polic
EconomyOct. 10, 2017
-
Techs drive KOSPI higher late Tuesday morning
South Korean shares traded sharply higher Tuesday, boosted by technology stocks as investors displayed optimism over third-quarter earnings. The benchmark Korea Composite Stock Price Index gained 46.54 points, or 1.94 percent, to 2,441.01 as of 11:20 a.m.Top cap Samsung Electronics, scheduled to release its third-quarter earnings guidance later this week, jumped 4.45 percent, and global chipmaker SK hynix soared 8.08 percent. Top automaker Hyundai Motor rose 0.66 percent, and its smaller affilia
MarketOct. 10, 2017
-
Korea vows continued support for nuclear export push
The South Korean government vowed Tuesday to support local companies' bids to export nuclear reactors overseas, in a move to ease concerns that its nuclear phase-out plan could adversely affect efforts to new secure contracts. The Ministry of Trade, Industry and Energy held a meeting with state-run utilities, construction companies and local banks to discuss global market strategy and financial package programs, with an emphasis on upcoming nuclear power projects in Britain, the Czech Republic a
IndustryOct. 10, 2017
-
E-Mart stores in traditional markets boost mutual growth
Traditional markets with stores run by E-Mart Inc., the country's largest discount chain operator, have been witnessing an increase in the number of customers, signaling the possibility of the co-prosperity of giant retailers and mom-and-pop shops, industry sources said Tuesday.E-Mart operates stores dedicated to selling its private-label No Brand products at three traditional markets in South Korea. This file photo provided by E-Mart Inc. shows the entrance to its new store in the Sunsan Tradit
IndustryOct. 10, 2017
-
EVs to have little effect on electricity supply, demand
Electric vehicles will have little effect on the electricity supply and demand in South Korea even if the number of emission-free cars reaches 250,000, a local report said Tuesday.The government has set the target figure by 2020, sharply up from this year's goal of 46,000. As of the end of August, the number of electric vehicles stood at 19,022, according to the documents the National Assembly Budget Office provided to Rep. Lee Che-ik of the main opposition Liberty Korea Party upon his request.
MobilityOct. 10, 2017
-
Data shows Korea's presence shrinking in Chinese import market
South Korea's share in the Chinese import market is weakening, likely to fall to under 10 percent this year despite strong exports to the neighbor country led by semiconductors and petrochemicals, trade data showed Tuesday.Statistics from the Korea Center for International Finance, data firm CEIC and the trade industry said South Korean products accounted for 9.4 percent of China's imports in monetary terms for the January-August period this year.South Korea's market share in Chinese imports had
EconomyOct. 10, 2017
-
Imports of e-cigarettes rose sharply since conventional tobacco tax hike in 2015: data
Imports of electronic cigarettes more than doubled after the government raised taxes on conventional tobacco in 2015 to discourage smoking, government data showed Tuesday.Industry sources attribute the sharp rise to smokers switching to e-cigarettes which are exempted from higher taxes.The government increased taxes on cigarettes by 2,000 won ($1.70) per pack from Jan. 1, 2015, raising the price to 4,500 won per pack, and compelled tobacco companies to place graphic images showing the harmful ef
EconomyOct. 10, 2017
-
BOK chief says talks under way with China over currency swap deal
South Korea and China were to hold another meeting Tuesday to discuss whether to extend the existing currency swap deal, the head of South Korea's central bank said.Bank of Korea Gov. Lee Ju-yeol said an expiration is not necessarily all that important as the two sides are holding negotiations on the deal."It would be good if everything is concluded before the existing deal expires, but it may not be the case (in the process of consultations)," Lee told reporters at the BOK headquarter
EconomyOct. 10, 2017
-
Seoul stocks open sharply higher, led by techs
South Korean shares opened sharply higher Tuesday, boosted by technology stocks as investors displayed optimism over third-quarter earnings. The benchmark Korea Composite Stock Price Index gained 32.61 points, or 1.36 percent, to 2,427.08 in the first 15 minutes of trading. Most large caps had mixed fortunes, with market kingpin Samsung Electronics jumping 4.49 percent.Top automaker Hyundai Motor fell 0.33 percent, while top steelmaker POSCO rose 1.42 percent.The local currency was trading at 1,
MarketOct. 10, 2017
-
Survey says foreign medical tourists generally satisfied, except for language barrier
Foreigners on medical tours to South Korea are generally satisfied with the services they receive but feel inconvenienced the most by the language barrier, a survey showed Tuesday.The Korea Tourism Organization canvassed 2,152 medical tourists who visited South Korea last year and found that they gave an average 4.05 points out of five for the quality of service. Medical skills and facilities received the highest points of 4.23. Specialized services for foreigners got 4.08 points.Sixty-one perce
IndustryOct. 10, 2017