Most Popular
-
1
Court refuses injunction on medical school expansion
-
2
Why Korean crime stories typically feature nameless, faceless perpetrators
-
3
Debate on 'no-seniors zones' heats up
-
4
Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
-
5
S. Korea, Cambodia forge strategic partnership
-
6
Is NewJeans headed for a long 'break'?
-
7
[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
-
8
Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
-
9
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
10
New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
-
Prospects mixed for Moon Jae-in’s extra budget
With President Moon Jae-in ordering the establishment of a presidential committee for jobs on his first day of office, the new government is soon to come up with a follow-up fiscal plan to boost employment.During his presidential campaign, Moon vowed to draw up a 10 trillion won ($8.8 billion) supplementary budget, immediately after taking office, as the first step to support 12,000 new jobs in the public sector starting from the second half of the year. The new jobs will mainly fill a shortage
MarketMay 11, 2017
-
NCSoft’s sales fall short of market predictions
Online game developer NCSoft is facing an earnings shock, with its first-quarter sales falling behind market predictions, according to a results announcement made Thursday.The company was expected to record 260 billion won ($230 million) of sales during the January-March period, but it showed a 0.6 percent fall during the quarter instead, with 239.5 billion won of sales. NCSoft's headquarters in Pangyo, Gyeonggi Province (NCSoft)Its tentative operating profits also shrank to 30.4 billion won, s
IndustryMay 11, 2017
-
KDB issues refund guarantee for Daewoo's latest deal
The state-run Korean Development Bank, the largest creditor of Daewoo Shipbuilding & Marine Engineering Co., a troubled shipbuilder here, has issued a refund guarantee for the shipyard's latest deal, ending a one-month tussle over how to help it complete the contract, industry sources said Thursday.On April 4, Daewoo Shipbuilding clinched a $250 million deal to build three very large crude carriers. Under the deal with Maran Tankers Management, a unit of Greece's largest shipper Angelicoussis Sh
IndustryMay 11, 2017
-
Korea imposes levy on financial firms over foreign borrowing
South Korea has imposed a levy on financial firms' non-deposit foreign borrowing to ease volatility in capital flows, the central banks said Thursday.The Bank of Korea said 66 financial companies, including 17 local banks and 34 branches of foreign lenders, are required to pay 0.1 percent of their outstanding non-deposit foreign debt maturing in less than one year. South Korea introduced the macroprudential stability levy in 2011 to reduce capital flow volatility.South Korea has been trying to c
MarketMay 11, 2017
-
Kakao sales jump after Loen takeover
Kakao Corp. reported Thursday that its quarterly sales have been improving along with the takeover of Loen Entertainment last year, with this year’s first-quarter sales recording 443.8 billion won ($393.5 million)The company saw an increase of 83 percent in sales and 81.8 percent in business profits compared to last year’s January-March period. Its net term profits surged 397.6 percent during the same period. (Kakao Corp.)The popularity of Loen’s online music store Melon led to a 142 percent inc
IndustryMay 11, 2017
-
[Superich] Young chairman epitomizes Dong-A Socio Group’s emphasis on capability
Dong-A Socio Group’s management rights have been passed down to the third generation of its founding family, with Kang Jung-seok, grandson of Dong-A Pharmaceutical’s founder Kang Joog-hee, promoted to become the group’s chairman in January. Kang Jung-seok’s father, Kang Shin-ho, who had been running the company for the past 35 years, stepped down from his position as chairman and became the honorary president. Honorary President Kang Shin-ho in front of a truck of Bacchus in 1993. (Dong-A Socio
IndustryMay 11, 2017
-
[Superich] SK Networks undergoes reforms to specialize in rental biz
Chairman Choi Shin-won, cousin of SK Group Chairman Chey Tae-won, has returned to SK Networks emphasizing that the company “needs to undergo changes and innovations as if it were to be re-founded.” The company was established in 1953 by Choi’s late father, Choi Jong-kun, who was also the founder of SK Group (formerly Sunkyung Group). Choi, who had a deep affection for SK Networks, had to leave the company to resolve management problems at an affiliate company, SKC. Chairman of SK Networks, Choi
IndustryMay 11, 2017
-
SK hynix becomes world’s 3rd-biggest chipmaker
SK hynix moved up the global ranking of semiconductor suppliers with the largest sales improvement in the first quarter of 2017, showed a market researcher Thursday. The South Korean memory chip giant rose to become the world’s third-largest chipmaker by first-quarter sales, moving up two notches from a year earlier, according to data provided by research firm IC Insights. SK hynix raised $5.5 billion in sales for the first three months of the year, the data showed. (Yonhap)The market researche
TechnologyMay 11, 2017
-
Traditional bestsellers retaining sales lead in local car market
Traditional bestsellers are leading car sales so far this year, data showed Thursday, although the performance suggests their superiority may be weakening.Kia Motors Corp.'s Morning and Hyundai Motor Co.'s Avante and Sonata, all top sellers in their classes, all stayed ahead of rivals in terms of sales for the January-April period. (Yonhap)The Morning, a small city car, sold 23,478 units up till last month, outpacing the Spark from GM Korea which sold 16,330 units.The Spark's sales fell 38.6 pe
MobilityMay 11, 2017
-
Samsung promotes 54 as vice presidents
Samsung Electronics said Thursday it has carried out a reshuffle of its executives in its smartphones and home appliances units, the first high-level moves made since it has been embroiled in a corruption scandal. “The company has decided to carry out the reshuffle as further delaying it, after failing to do so last year, would lower the metabolism of the organization,” a Samsung Electronics spokesperson said, meaning the continued tenure of the retirees-to-be has created congestion for personne
IndustryMay 11, 2017
-
Govt. moves to import Danish, Thai eggs amid supply shortage
The South Korean government is set to import eggs from Denmark and Thailand to curb a continuing price hike here stemming from a supply shortage in the wake of the bird flu outbreak late last year, it said on Thursday.South Korea has been dealing with rising egg prices since avian influenza spread nationwide from November last year, leading to the massive culling of chickens and the subsequent tight supplies.(Yonhap)The government allowed egg imports from the United States and Spain for the fir
IndustryMay 11, 2017
-
Korean shares up in late morning trading
South Korean shares traded higher late Thursday morning as hopes for an economic stimulus by the nation's new administration buoyed market sentiment. The benchmark Korea Composite Stock Price Index added 18.79 points, or 0.79 percent, to 2,288.01 as of 11:20 a.m.Large caps mostly traded higher with market kingpin Samsung Electronics adding 0.53 percent, and global chipmaker SK hynix up 0.72 percent.Top automaker Hyundai Motor rose 0.64 percent, and its smaller affiliate Kia Motors traded 1
MarketMay 11, 2017
-
SUVs leading Renault Samsung's exports
Sport utility vehicles accounted for 94 percent of Renault Samsung Motors Corp's exports so far this year, with potential for more growth down the line, the company said Thursday.Of 53,904 units shipped by the South Korean unit of French carmaker Renault S.A. in the January-April period, 94.1 percent, or 50,791 units, were SUVs, the company said. The Nissan Rogue accounted for 72.3 percent of the exports and the QM6 for 21.9 percent. QM6 from Renault Samsung(Yonhap)Exports of mid-sized sedans SM
MobilityMay 11, 2017
-
Korea's Q1 tourism deficit hits record, 10-yr high
The trade deficit in South Korea's tourism industry rose to a record high for the past decade in the first quarter, due largely to a void in Chinese visitors following the ban of Korea-bound trip sales by Beijing from mid-March, industry and central bank data showed Thursday. The figure stood at $3.74 billion as of the end of March, the largest amount since $3.76 billion recorded in the fourth quarter of 2007, according to data by the tourism industry and the Bank of Korea. (Yonhap)The deficit
IndustryMay 11, 2017
-
Korea's exports rise 4.5% in first 10 days of May
South Korea's exports increased 4.5 percent in the first 10 days of May from a year earlier on brisk overseas sales of petroleum products and semiconductors, latest customs data showed Thursday.Total outbound shipments reached $9.7 billion during the cited period, up from $9.3 billion tallied over the same period last year, according to the data compiled by the Korea Customs Service. The increase was led by a 117.8-percent on-year gain in exports of petroleum goods and a 43-percent surge for chi
EconomyMay 11, 2017
-
Uptrend in food prices forecast to ease after presidential poll
South Korean food makers are likely to refrain from jacking up their prices following the inauguration of the new government, leading to a let-up in the recent uptrend, analysts said Thursday.The upbeat prediction comes as the Moon Jae-in government is widely predicted to rein in rising food prices in the wake of several markups ahead of the May 9 presidential election. (Yonhap)Stabilizing international grain prices are also unlikely to prompt domestic food companies to initiate a new round of p
IndustryMay 11, 2017
-
Seoul stocks start higher on Wall Street gains
South Korean shares opened higher Thursday, tracking gains on Wall Street amid a rebound in oil prices. The benchmark Korea Composite Stock Price Index climbed 5.52 points, or 0.24 percent, to 2,275.64 in the first 15 minutes of trading.Most large caps traded mixed with market kingpin Samsung Electronics falling 0.22 percent.Top automaker Hyundai Motor rose 0.32 percent, and top steelmaker Posco remained flat. The local currency was trading at 1,133.50 won against the US dollar, up 2.3 won from
MarketMay 11, 2017
-
Big foreign firms splurge on dividends, scrimp on donations
Large foreign companies operating in South Korea tend to pay lavish dividends to their head offices, but they are stingy with donations to local charities, data showed Thursday.According to the data by corporate tracker CEO Score, the dividend payout ratio of 44 large companies in South Korea stood at 75.9 percent with 2.69 trillion won ($2.37 billion) out of their combined net profit of 3.55 trillion won paid to shareholders in 2016 and 2015. (Yonhap)The ratio refers to the percentage of earnin
IndustryMay 11, 2017
-
Apple's iPhone 7 most sold smartphone in world for Q1: data
The iPhone 7, the flagship smartphone of US tech giant Apple Inc., was the most sold handset around the globe in the first quarter, data showed Thursday, while Samsung Electronics Co. mostly shipped budget models over the cited period.According to the data compiled by industry tracker Strategy Analytics, Apple sold 21.5 million units of the iPhone 7 in the January-March period. The figure accounts for 6.1 percent of the combined shipment of 353 million units posted by smartphone makers around th
TechnologyMay 11, 2017
-
Koreans mostly use WiFi network for video streaming over LTE
South Korean smartphone users mostly used the WiFi network to enjoy video-streaming content rather than to use the long-term evolution services, data showed Thursday, apparently due to the burdensome price of the high-speed mobile network.According to the survey compiled by Nielsen Korea on South Korean users of Android smartphones in March, the WiFi network accounted for 90.7 percent of their time spent on video streaming services. Only 9.3 percent used the LTE networks to watch video content.
TechnologyMay 11, 2017