Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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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 to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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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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Korea to invest 260 bln won in system semiconductor sector
South Korea will invest a combined 260 billion won ($233.1 million) in the system semiconductor sector to develop core technologies and foster experts in the coming four to six years as part of a broader effort to keep up with the fourth industrial revolution, the government said Thursday.The Ministry of Trade, Industry and Energy unveiled the investment plan at a meeting with a group of system semiconductor businesses in Seoul. (Yonhap)The fourth revolution is characterized by many technologie
TechnologyMarch 30, 2017
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Seoul shares down 0.26% in late-morning trade
South Korean stocks snapped earlier gains and turned bearish late Thursday morning, as widening losses in airlines and foodmakers pushed down the main index, analysts said. The benchmark Korea Composite Stock Price Index lost 5.74 points, or 0.26 percent, to move to 2,161.24 as of 11:20 a.m.Shares of Korean Air Lines, the country's top air carrier, tumbled nearly 3 percent, with those of Lotte Confectionery dipping 2.7 percent. LG Electronics, the smaller rival of tech giant Samsung Electronics,
March 30, 2017
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Samsung's Galaxy S8 boasts advanced voice recognition AI agent Bixby
The new Galaxy S8 flagship smartphone unveiled for the first time in New York and London boasts an advanced voice recognition system, dubbed Bixby, which stands out from other existing programs in the market, the phone's manufacturer Samsung Electronics Co. said Thursday.Samsung showcased the Galaxy S8 and the Galaxy S8 Plus, the first flagship series to be launched since the suspended production of the ill-fated Galaxy Note 7 last year, with an emphasis on promoting Bixby. Samsung Electronics C
TechnologyMarch 30, 2017
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Samsung's Galaxy S8 lighter, more compact than LG G6
South Korean companies issued bonds worth 13.8 trillion won ($12.4 billion) last month, up 72.8 percent from a month earlier, data showed Thursday, as they capitalized on record-low interest rates. Sales of debts by non-financial firms more than doubled to 4.9 trillion won last month from a month earlier, according to the data by the Financial Supervisory Service. Samsung Electronics Co.'s Galaxy S8 (Yonhap)Sales of debts by financial firms also shot up 35.9 percent on month to 7.5 trillion won
TechnologyMarch 30, 2017
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Kakao's Internet bank to get final approval on April 5
The Internet bank of Kakao Corp., South Korea's dominant chat app, is expected to win a final regulatory approval early next month, an industry source said Thursday, clearing the final hurdle for Kakao to launch the nation's second Internet bank. The Financial Services Commission will hold a meeting on April 5 to grant the final approval for Kakao's Internet bank, the source said on the condition of anonymity. (Yonhap)An Internet bank offers banking and financial services without any branch netw
March 30, 2017
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Scholars preferred as outside directors amid bribery scandal: data
South Korea's major business groups prefer scholars to retired government officials as outside directors, data showed Thursday, as local companies move to cope with alleged bribery involving former President Park Geun-hye and some conglomerates.As many as 57 out of 126 outside directors appointed by the country's 10 biggest conglomerates this year were professors, according to the data by market researcher Chaebul.com. (Yonhap)The comparable figure for last year was 45 professors, or 33.8 percen
CompaniesMarch 30, 2017
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KDB informs creditors of outcome of due diligence on Daewoo Shipbuilding
The main creditor of Daewoo Shipbuilding & Marine Engineering Co. on Thursday informed private creditors and bondholders of the outcome of due diligence on the troubled shipbuilder, as part of its efforts to persuade them to agree on a debt-for-equity swap.The state-run Korea Development Bank, the main creditor, was holding a meeting with stakeholders of Daewoo Shipbuilding, including the National Pension Service and the Korea Post, to discuss the financial arrangements that have to be undertake
March 30, 2017
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BOK vows to keep monetary easing policy
South Korea's central bank vowed Thursday to maintain the current monetary easing policy to support growth.The Bank of Korea has left its key rate unchanged at an all-time low of 1.25 percent since June when it made a surprise rate cut to bolster Asia's fourth-biggest economy.(Yonhap)The BOK will "maintain its stance of monetary policy accommodation as the inflationary pressures are not expected to be high given the moderate pace of domestic economic growth," the BOK said in a report submitted t
March 30, 2017
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Samsung Electronics leads top corporate taxpayers in 2015
Tech giant Samsung Electronics Co. said the largest corporate tax in South Korea in 2015, with the top 10 taxpayers accounting for about 24 percent of the total corporate tax revenue, data showed Thursday.Samsung Electronics, the flagship of South Korea's leading conglomerate Samsung Group, paid 3.2 trillion won ($2.87 billion) in taxes in 2015, taking up 7.1 percent of the total revenue, according to the data by the National Assembly Budget Office. (Yonhap)No. 1 carmaker Hyundai Motor Co. follo
CompaniesMarch 30, 2017
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Number of unfair trade practices tumbles in 2016
The number of unfair trade practices in South Korea plunged in 2016 from the previous year due largely to a drop in newspaper companies' violations of the nation's fair trade, officials said Thursday.The Fair Trade Commission, the country's antitrust watchdog, imposed sanctions on 60 unfair business practices last year, down 43 cases from the previous year. (Yonhap)The number covered violations for which the FTC issued administrative warnings or stricter penalties. It marked the first time in 2
March 30, 2017
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Korea ranks world No. 4 for most Starbucks stores per capita: data
South Korea has the world's fourth largest number of Starbucks Coffee stores in relation to its population, industry data showed Thursday.Starbucks Coffee Korea, the local unit of the US coffee giant, said it has 1,008 stores across the country as of the end of February, meaning one outlet for every 50,000 South Koreans. South Korea's population is 50.5 million as of the end of July last year.(Yonhap)Canada topped the list with 1,035 shops for a population of 36.2 million, translating into one s
IndustryMarch 30, 2017
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Samsung showcases Galaxy S8 with new design, cutting-edge tech, AI
Samsung Electronics Co. showcased its new Galaxy S8 series Thursday with a new, sleek design and cutting-edge features not seen in its predecessors such as the Bixby voice assistant.The company's new flagship will be released in two versions that make use of the premium glass and metal form factor with one sporting a 5.8-inch screen and the other a bigger 6.2-inch panel. (Yonhap)Both boast double-edged Super AMOLED screens that give the illusion of having no bezels. This is a departure from the
TechnologyMarch 30, 2017
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Korean firm shuts down battery plant in China: source
South Korea's SK Innovation Co. halted operation of its battery packing plant in China in January as its business suffered in the face of Beijing's move to stop a subsidy to electric vehicle makers that use parts from non-Chinese manufacturers, sources said Wednesday.Orders for the joint venture between Korea's major energy and chemical company and two Chinese firms began to fall in the fourth quarter of last year after the Chinese government introduced a verification system for companies that p
IndustryMarch 29, 2017
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Korean Air, Delta Air sign for JV on trans-Pacific routes
Korean Air Lines Co. and Delta Air Lines on Wednesday agreed to set up a joint venture on trans-Pacific routes in an expanded partnership to enhance customer convenience.The companies said in a joint statement that the initial agreement reached near Incheon International Airport in South Korea will strengthen their competitiveness and improve service to customers."This agreement deepens our long-standing partnership with Korean Air and will provide the global access and seamless service our cust
IndustryMarch 29, 2017
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[Photo News] Posco Prize
Posco Chairman Kwon Oh-joon (right) and recipients of the Posco TJ Park Prize 2017 pose for a photo during a ceremony held at the steelmaker's Seoul office Wednesday. The prize, named after Posco founder Park Tae-joon, honors scientists and scholars for their contributions to society and scientific development. (Posco)
IndustryMarch 29, 2017
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[Inside Tech] Stepping closer to living in a smart home
Today, everything seems to be smart. We see a flood of new smart home devices coming out from global and small tech players. Software giants Google and Amazon are competitively unveiling advanced voice-activated speakers while hardware behemoths Samsung, LG, GE and Philips are churning out the newest smart appliances and electronics. Small tech players are also showing off various smart gadgets such as bulbs, cameras, locks and lighting. Despite the companies’ efforts to push out a plethora of s
TechnologyMarch 29, 2017
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Incheon Airport celebrates its anniversary
Incheon International Airport CEO Chung Il-young (front, fifth from right) poses with award recipients during the first Incheon Airport Awards, which were presented to companies in the aviation industry that showed exemplary performances. The awards selected four companies in different categories: Korean Air, Asiana Airport, SM Duty Free and Asiana Airlines. The event, which coincided with the airport’s 16th anniversary, was organized in celebration of Incheon Airport being named the best airpor
IndustryMarch 29, 2017
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DSME chief urges workers to accept pay cuts
The head of the ailing shipbuilder Daewoo Shipbuilding and Marine Engineering on Wednesday urged employees to take part in a pay cut, warning that it is their last chance to save the company. Jung Sung-leep, the president of DSME, asked workers to undergo a pay cut of 10 percent saying it is for the sake of the company’s survival. Jung Sung-leep, CEO of DSME, explains the company`s restructuring plans to the media on Friday. (DSME)“Before I ask you to join the pay cut move, I will return 100 pe
IndustryMarch 29, 2017
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LG powers its home appliances with deep learning technology
LG Electronics on Wednesday vowed to reinforce its home appliance lineup with its proprietary artificial intelligence technology to contend for leadership in the AI-powered market. The South Korean electronics provider said it had launched an AI-equipped refrigerator, robot vacuum cleaner and washing machine, following an air conditioner early this year. The series of new products run on DeepThinQ, LG’s proprietary deep learning technology, the company said. DeepThinQ-based home appliances (LG
TechnologyMarch 29, 2017
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Seoul shares edge up despite foreign sell-off
South Korean stocks closed slightly higher on Wednesday, aided by gains in key blue-chips, although foreigners turned to net sellers. The local currency fell slightly against the US dollar. The benchmark Korea Composite Stock Price Index gained 3.69 points, or 0.17 percent to finish at 2,166.98. Trading volume was moderate at 621.4 million shares worth 5.02 trillion won ($4.5 billion), putting gainers and decliners nearly in a tie 400 to 394."Foreign investors are on selling mode after they drov
March 29, 2017