Most Popular
-
1
Korean industries gauge impact of Biden's steep tariffs on China
-
2
Do Korean doctors make too much money?
-
3
Is FTC's conglomerate listing a boon or bane for Hybe?
-
4
NewJeans to headline palace show
-
5
Coupang's Kim Bom escapes chaebol chief designation again
-
6
Why Korean crime stories typically feature nameless, faceless perpetrators
-
7
Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
-
8
CIO chief nominee to explain allegations at confirmation hearing
-
9
Yoon vows to run country 'rightly' on Buddha's birthday
-
10
Debate on 'no-seniors zones' heats up
-
KAERI promotes SMART reactors at IAEA meeting
The Korea Atomic Energy Research Institute said Tuesday that it promoted its SMART reactor for export to third countries at the ongoing assembly of the international nuclear watchdog in Vienna.The promotion was made as a subsidiary event at the headquarters of the International Atomic Energy Agency the previous day, with 22 Asian, African and Mideast countries attending, a KAERI official said. During the event, KAERI introduced Saudi Arabia's nuclear reactor project, in which it is taking part,
TechnologySept. 19, 2017
-
[Newsmaker] Corruption scandal shakes up KAI’s vision
Until last year, Korea Aerospace Industries, the nation’s sole aircraft manufacturer, was riding high on the expectation of its increased entries into foreign markets with homegrown choppers and jets. Speaking proudly of KAI’s fast technological advancement, then-CEO Ha Sung-yong told investors on Jan. 28, 2016 that the company aimed to become one of the top 15 aircraft manufacturers in the world by 2020. Its joint venture with US defense giant Lockheed Martin on the US Air Force’s trainer progr
IndustrySept. 19, 2017
-
Laneige enters US Sephora
Cosmetics brand Laneige, run by Amorepacific, will be sold at the multi-shop brand Sephora in North America starting Saturday, according to Amorepacific on Tuesday.Laneige products will be available through 144 Sephora stores across the US along with 74 stores in Canada, according to the company. An outdoor ad promotes Laneige‘s launch in the US (Amorepacific)Sephora stores in Canada have been carrying Laneige since September 2015.The brand previously launched in the US through the retailer Targ
IndustrySept. 19, 2017
-
No. of non-Chinese tourists grows in Korea amid THAAD fallout
The number of foreigners other than Chinese visiting South Korea grew in the first seven months of this year following the government's efforts to diversify its tourist portfolio in the face of a sharp drop in the number of Chinese visitors, the country's tourism promotion agency said Tuesday.According to the Korea Tourism Organization, the number of visitors from Vietnam, Kazakhstan and Iran grew 29.2 percent, 26.8 percent and 25.6 percent on-year, respectively, in the January-July period. "Th
IndustrySept. 19, 2017
-
Merck showcases automotive solutions at Frankfurt motor show
The US science and technology firm Merck said Monday it is participating for the first time in the International Motor Show that began last week, presenting its solutions for the automotive industry that enhance functionality and aesthetics in automotive engineering.The International Motor Show began Thursday in Frankfurt, Germany, and will run for 10 days. Merck said its presentations for the automotive industry include materials for lighting systems, sunroofs, free-form displays and smart ante
IndustrySept. 19, 2017
-
Seoul shares down in late morning on tech losses
South Korean stocks traded lower late Tuesday morning as institutions and foreigners offloaded large-cap tech stocks in an apparent move to lock in profits, analysts said.The benchmark Korea Composite Stock Price Index lost 4.09 points, or 0.17 percent, to 2,414.12 as of 11:20 a.m.Most large caps traded mixed, with tech shares in negative terrain.Market kingpin Samsung Electronics lost 0.57 percent, and SK hynix, a major chipmaker, was down 0.5 percent.The local currency was trading at 1,130.5 w
MarketSept. 19, 2017
-
SK Chemicals, GSK awaiting commercial sales of shingles vaccine
SK Chemicals Co., a South Korean pharmaceutical and chemical goods manufacturer, and multinational drug firm GlaxoSmithKline Plc. are awaiting final approval of their respective herpes zoster vaccines, market watchers said Tuesday.Approval is forecast to shake up the market in a big way, setting up a showdown with the US pharmaceutical giant Merck & Co's Zostavax, they said.Zostavax is the only vaccine currently approved for use to treat shingles, which typically shows up as a painful rash that
IndustrySept. 19, 2017
-
Korea sends business delegation to Oman, Saudi Arabia
South Korea sent a delegation to Oman and Saudi Arabia to boost local companies' chances in the emerging infrastructure markets in the Middle East and strengthen economic ties, the land ministry said Tuesday.Son Byeong-seok, Vice Minister of Land, Infrastructure and Transport, accompanied a business delegation made up of officials from both the public and private sectors to meet key infrastructure ministers in the resource-rich countries from Tuesday to Friday. In Oman, Son will meet with the mi
IndustrySept. 19, 2017
-
Korean Air chief summoned over alleged fund misappropriation
The chief of South Korea's top airline appeared before police investigators Tuesday to face questioning over his alleged misappropriation of company funds for a home renovation.Cho Yang-ho, chairman of both Hanjin Group and Korean Air Lines Co., showed up at the National Police Agency in Seoul as a criminal suspect facing possible charges of breach of trust.He refused to take any questions from reporters, only saying that he will "fully cooperate with the investigation." Cho, 68, is suspected o
IndustrySept. 19, 2017
-
Korea's export growth fastest among top 10 exporters
South Korea's exports grew at the fastest pace among the world's top 10 exporters, data by the World Trade Organization showed Tuesday, thanks to brisk sales of semiconductors and petrochemical products. Outbound shipments amounted to $328 billion in the first seven months of this year, making South Korea the world's sixth-largest exporter, up 16.3 percent from a year earlier, according to the WTO's monthly merchandise trade data.Overseas sales by China, the world's No. 1 exporter, showed a 8.3
EconomySept. 19, 2017
-
Korea to announce new duty-free license scheme later this month: finance minister
The South Korean government will announce a new duty-free license plan later this month as part of efforts to revamp the scandal-hit sector, the finance minister said Tuesday."A task force team will map out the plan from the offset," Finance Minister Kim Dong-yeon said in a meeting at Incheon International Airport with leaders from local duty-free shop operators including Lotte Duty Free and Shilla Duty Free. "I know that the public wants the government to come up with a more transparent and fai
IndustrySept. 19, 2017
-
Avocado imports increase dramatically in South Korea
South Korea’s imports of avocados have dramatically increased in recent years, riding on the surging popularity of the fruit for its versatility in cooking and health benefits, industry data showed Tuesday.According to data compiled by the Korea Customs Service, the amount of avocados imported last year reached 2,915 tons, a sixfold surge compared to 457 tons in 2010. (123RF)The figure is expected to reach almost 5,000 tons by the end this year, the data also showed. Korean retail giant Lotte M
IndustrySept. 19, 2017
-
Air Seoul to begin flights to Kalibo
Low-cost carrier Air Seoul said Tuesday that it will begin servicing flights to Kalibo starting in December, becoming the only Korean airline to provide direct flights there. Kalibo Airport in the Philippines serves mainly as a gateway to tourist-heavy Boracay. Tickets to Kalibo will be available for reservation starting in October, with flights beginning Dec. 22 in time for the winter tourist season. An Air Seoul plane (Air Seoul) Air Seoul will fly to Kalibo from Incheon Airport four times wee
IndustrySept. 19, 2017
-
Shipyards, steelmakers at odds over steel price hike
South Korea's major shipbuilders and steelmakers have been in talks over a steel price hike for weeks, but they still face difficulties narrowing their differences, industry sources said Tuesday.Last week, the Korea Offshore & Shipbuilding Association urged top steel producer POSCO and No. 2 player Hyundai Steel Co. to cut the prices of thick steel plates used for shipbuilding, adding that local shipyards are struggling with falling prices for their products and increased competition.The associa
IndustrySept. 19, 2017
-
Tsingtao beer popularity grows in S. Korea despite diplomatic row: sources
Sales of China's Tsingtao beer have risen sharply in South Korea in recent months despite South Korean firms being hit by Beijing's retaliation against Seoul for the deployment of a US missile defense system on its soil, industry sources said Tuesday.Beijing insists the installation of the Terminal Altitude Area Defense (THAAD) will undermine China's security interests, although Seoul says it is to defend against North Korean provocations, not aimed at China. (123RF)The Chinese government has sh
IndustrySept. 19, 2017
-
Samsung Electronics' reputation plunges on heir's arrest
Samsung Electronics Co.'s reputation plunged in 2017 compared with the year before, industry data showed Tuesday, apparently due to the arrest of its de facto head coupled with the Galaxy Note 7 debacle.According to the US-based Reputation Institute, Samsung's ranking in terms of corporate social responsibility plunged 69 notches from 2016 to the 89th spot. The research covers companies' governance structure, social influences and treatment of workers.Samsung posted the sharpest on-year decline
IndustrySept. 19, 2017
-
SMEs lose to large firms in most patent suits: lawmaker
South Korea's smaller firms have lost nearly 86 percent of patent suits against large businesses this year due mainly to their lack of legal expertise and resources to protect their intellectual properties, a lawmaker said Tuesday.Citing data from the Korea Intellectual Property Office, Rep. Kim Jung-hoon of the main opposition Liberty Korea Party said small and medium enterprises lodged 21 patent lawsuits against larger firms in the first eight months of the year, losing 18 cases. Korea Intelle
IndustrySept. 19, 2017
-
BOK says prices of agricultural products up 14.2% in Aug.
Prices of agricultural products rose 14.2 percent in August from a month earlier as rains and a heat wave have reduced the output of agricultural products, central bank data showed Tuesday.The monthly figure marked the highest tallied since September 2010 when it stood at 18.8 percent, according to the preliminary data from the Bank of Korea.Prices of cabbage -- a key ingredient of the Korean traditional side dish of kimchi -- jumped 55.3 percent in August from a month earlier, the BOK said.&nbs
EconomySept. 19, 2017
-
US trade representative heralds renegotiation of Korea trade deal
WASHINGTON -- US Trade Representative Robert Lighthizer said Monday that a renegotiation is in order for trade agreements that lead to growing trade deficits, a remark indicative of his stance on the US free trade deal with South Korea."We are looking at all of our trade agreements to determine if they are working to our benefit," he told a forum here. "The basic notion in a free trade agreement is that one grants preferential treatment to a trading partner in return for an approx
EconomySept. 19, 2017
-
Banks urged to tighten home loan screening to slow household debt
The nation's top financial regulator on Tuesday urged banks to tighten their screening of home loan applications to help slow the growth of household debt. South Korea tightened lending rules for mortgages last month, but critics say loopholes give some people room for borrowing money in excess of the lending limits to buy homes. Kim Yong-beom, vice chairman of the Financial Services Commission, told representatives from banks that the growth of household debt could pick up during the second hal
EconomySept. 19, 2017