Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Salary of public sector CEOs gains 8.2% in 2016
The average salary of public corporations' CEOs climbed 8.2 percent in 2016 from a year earlier to recover the 200 million-won ($178,000) level in three years, a market tracker said Wednesday.The salary of CEOs of 35 public companies averaged 201.2 million won last year, up 15 million won from the previous year, according to CEO Score.The salary includes the base pay and various benefits. Their average base pay accounted for 61.7 percent of last year's salary. The average salary of public s
EconomyAug. 30, 2017
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30% of state-supported infertility treatment successful
About three out of 10 infertility treatments funded partly by the government have been successful, with the number of recipients getting support increasing every year, a report from the health ministry said Wednesday.The report from the Ministry of Health and Welfare to opposition party's Rep. Kim Seung-hee said the government provided fund assistance to 87,155 cases of infertility in 2016, an increase of 35.1 percent from five years ago. The success rate in 2016 was 29.5 percent, similar to 28.
TechnologyAug. 30, 2017
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Stocks open higher on US gains
South Korean stocks opened higher Wednesday, taking a cue from overnight gains on Wall Street, although there is still lingering woes over North Korea's provocations.The benchmark Korea Composite Stock Price Index rose 0.86 point, or 0.04 percent, to 2,365.80 in the first 15 minutes of trading.On Tuesday, North Korea lobbed a ballistic missile over Japan in a move that can sharply raise tensions in Northeast Asia.Market kingpin Samsung Electronics was 0.39 percent up, while SK hynix, a major chi
MarketAug. 30, 2017
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Closer look into Samsung’s smarter, bigger Note 8
Samsung Electronics has returned with the much-awaited Note brand complete with smarter S Pen stylus, a bigger display and a bolstered camera. The latest Galaxy Note 8, released to keep its rival iPhone 8 in check, features the largest-ever screen on a Note device that fits in one hand, the brand’s signature S Pen stylus and its new dual camera. “We appreciate the relentless passion of the Note community. They’ve been a constant inspiration to us and we designed the new Note for them,” Koh Dong-
TechnologyAug. 29, 2017
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Hyundai union says wage talks will resume in Nov. under new leadership
Hyundai Motor Co.'s union said Tuesday its new leadership will resume wage talks with the company in November, as no headway has been made after 28 rounds of "fruitless" negotiations. "We have decided to suspend wage talks with the company as its revised offerings were not satisfactory at all. Once a new union leader is elected next month a leadership structure should be in place by October, and these people can then handle the wage deal in November," a union spokesman said over the phone.The co
MobilityAug. 29, 2017
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Hyundai Motor suspends plant operation in China
Hyundai Motor, South Korea’s largest carmaker, has suspended the operations of its manufacturing plants in China, the carmaker said Tuesday.The carmaker’s office in China, Beijing Hyundai, has decided to halt its three plants in the Chinese capital and a fourth facility in Changzhou. (Yonhap)The decision came as local partners are declining to supply auto parts to Hyundai in a show of complaint over delayed payments for their products.Beijing Hyundai has failed to pay around 18.9 billion won ($1
MobilityAug. 29, 2017
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Biz leaders meet with US delegation to discuss way to expand cooperation
South Korean business leaders met members of a US congressional delegation Tuesday to discuss ways to expand ties in trade and investment, a local economic agency said.The Korea International Trade Association arranged the meeting between visiting US congressmen and some 90 executives from local conglomerates and American companies operating in South Korea so as to allow the participants to exchange views on pending economic issues between Seoul and Washington.The US side was led by Ed Royce (R-
IndustryAug. 29, 2017
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Stock markets recoup losses from NK missile launch
Stock markets in South Korea recouped earlier losses Tuesday, after being rattled yet again by another North Korea missile test in the morning, while local currency and short-term bonds remained weak.Korea’s primary stock market index Kospi closed at 2,364.74, down 0.23 percent from Monday. The index had tumbled by 1.58 percent at the lowest in late morning trade, but the daily loss began to gradually narrow in the afternoon. The secondary Kosdaq market gained 0.16 percent, after seeing 0.
MarketAug. 29, 2017
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4th industrial revolution committee to launch by mid-September: ICT minister
A state committee chaired by President Moon Jae-in and aimed at seeking ways to capitalize on changes brought on by the fourth industrial revolution will be launched by mid-September, South Korea's chief ICT policymaker said Tuesday.The so-called "Fourth Industrial Revolution committee," comprised of some 30 senior government policymakers and businesspeople, is part of the Moon administration's pledge to upgrade the country's overall competitiveness. The committee aims to form a collab
EconomyAug. 29, 2017
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Jeju Air rakes in record high Q2 operating profit
Jeju Air’s operating profit grew by 2,448 percent in the second quarter of this year compared to the same quarter last year, reaching a record high for twelve consecutive quarters, the airline said in a statement Tuesday. Jeju Air recorded a second-quarter operating profit of 16.2 billion won ($14.4 million) and sales of 228 billion won, which was a 40.7 percent jump compared to the same period last year. In the first half of the year, the company recorded sales of 468.2 billion won, up 3
MarketAug. 29, 2017
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LG CNS releases AI-based data analysis platform
LG CNS, a LG Group subsidiary focusing on information technology services, released its own artificial intelligence-based data analysis platform DAP, the company said Tuesday.DAP provides around 30 services including data collection, data visualization, data analysis, digital marketing tools and chatbot services, it said. The cloud-based DAP also allows users to save time setting up a hardware system, which usually takes one to two months. DAP can run data analysis at a significantly faster spee
IndustryAug. 29, 2017
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Homeplus releases Italian fine wines at local branches
Homeplus has introduced Italian quality wines at its local branches as a part of the company’s campaign promoting premium wines sold at reasonable prices in the Korean market, the company said Tuesday.Last year, Homeplus launched its Superstar project, bringing in quality wines from outside the country and offering them at lower prices to expand the nation’s wine market base. Italy’s Tuscany-based Banfi wines are displayed at a Homeplus branch in Gangseo-gu, Seoul, Tuesday. (Homeplus)This year,
CompaniesAug. 29, 2017
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LG Chem to invest W436b in Polish unit
LG Chem Ltd., South Korea's top chemical firm, said Tuesday that it has decided to invest 436 billion won ($387 million) in its Polish affiliate in a bid to expand its electricity vehicle battery business.In a regulatory filing, LG Chem said it would invest in LG Chem Wroclaw Energy sp. z o.o by June 2020.The Polish company, set up in 2016, is wholly owned by LG Chem. (Yonhap)LG Chem said the investment is aimed at expanding the unit's output capacity.LG Chem entered the EV battery business in 2
IndustryAug. 29, 2017
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Korea's finance minister discusses trade issues with US envoy
South Korea's top economic policymaker met with the acting US ambassador to Seoul on Tuesday and emphasized "friendly" consultations on issues concerning possible amendments to the bilateral free trade agreement, the finance ministry said.In a meeting with Marc Knapper, who is acting as the ambassador after Mark Lippert stepped down earlier in the year, Finance Minister Kim Dong-yeon said the South Korean government is hoping to maintain good relations as the two partners engage in fur
EconomyAug. 29, 2017
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Government sets aside record W429tr budget for 2018
The government on Tuesday released a state budget plan for 2018 worth 429 trillion won ($381 billion), marking the steepest annual rise in nine years and advocating an expansionary fiscal plan in welfare and job creation to back President Moon Jae-in’s income-led growth economic initiative.The tentative budget for 2018, endorsed by the Cabinet in the morning, is up by 7.1 percent from this year’s 400.5 trillion won, according to the Ministry of Strategy and Finance.With its approval
EconomyAug. 29, 2017
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[Newsmaker] Lotte shareholders greenlight holding company structure
Shareholders of four Lotte companies approved a plan to set up a holding company Tuesday, in a move that is expected to tighten the grip of Chairman Shin Dong-bin as the group faces increasing internal and external difficulties.Lotte Confectionery, Lotte Shopping, Lotte Chilsung Beverage and Lotte Food held respective shareholder meetings Tuesday morning to vote on merging the four companies’ investment entities into one holding company.All four companies agreed to the plan, with 86.5 percent, 8
IndustryAug. 29, 2017
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Ikea Goyang to open on Oct. 19
Ikea Korea‘s second store in Korea will open in Goyang, Gyeonggi Province on Oct. 19, the company said on Tuesday. Ikea Korea Country Retail Manager Andre Schmidtgall gives a press presentation at Bread Comma Café in Seoul on Tuesday. (Ikea)“We had heard from customers that they wanted us to come closer to them, and that sometimes our (existing) store is too crowded,” Ikea Korea Country Retail Manager Andre Schmidtgall told reporters at the Bread Comma Cafe in Seoul.According to Schmidtgall, the
IndustryAug. 29, 2017
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[Advertorial] Nexon helps aspiring game programmers with coding
Global game company Nexon is ramping up efforts to provide young students in South Korea who are aspiring to become programmers with more opportunities to learn how to code programs.As part of its social contribution program, Nexon has begun holding a coding competition for interested students, titled “NYPC.” Using the games it services, Nexon presents participants with relatively easy cases to solve, with open answers. Launched last year, the event aims give interested students a chance to expe
TechnologyAug. 29, 2017
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[Advertorial] Samsung Securities leads in consumer protection
Samsung Securities took the lead in consumer protection among nine local equity brokerages, based on an annual assessment by the financial watchdog in South Korea.According to evaluations by the Financial Supervisory Service released Monday, Samsung Securities received the highest grade of “good” in all 10 indicators of customer service in 2016, out of three grading scales -- “good,” “satisfactory” and “insufficient.” Samsung Securities’ scor
MarketAug. 29, 2017
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[Monitor] Sanitary pads second-most produced ‘quasi drug’ product
Sanitary pads are second-most manufactured products in the quasi drug sector, data from the Ministry of Food and Drug Safety showed. The sector includes hygiene products, health products and functional cosmeticsThe ministry has announced full-fledged inspection of the sanitary pads sold in South Korea upon recent allegations that harmful chemicals were found in some of the products.The output of products not grouped as drugs but with health-related functions has continued to surge over the years
IndustryAug. 29, 2017