Most Popular
-
1
Do Korean doctors make too much money?
-
2
Korean industries gauge impact of Biden's steep tariffs on China
-
3
Court refuses injunction on medical school expansion
-
4
Why Korean crime stories typically feature nameless, faceless perpetrators
-
5
Is FTC's conglomerate listing a boon or bane for Hybe?
-
6
NewJeans to headline palace show
-
7
Coupang's Kim Bom escapes chaebol chief designation again
-
8
Debate on 'no-seniors zones' heats up
-
9
S. Korea, Cambodia forge strategic partnership
-
10
Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
-
Korea's exports rise 20.2% in Feb.
South Korea's exports jumped 20.2 percent last month from a year earlier expanding at the fastest clip in five years on rising oil prices and recovering world trade, government data showed Wednesday.Outbound shipments came to $43.2 billion in February, up from $35.9 billion tallied a year earlier, according to the Ministry of Trade, Industry and Energy. (Yonhap)The February rate of increase was the largest on-year gain since February 2012 when it posted a 20.4 percent monthly jump.It is the firs
March 1, 2017
-
Korea's experience can be role model of Asian development
South Korea will play a bigger role in Asia's investment in sustainable infrastructure through its experience of economic development and constant investment in basic facilities, a senior official at an international institution said."I would say that Korea is a very important member of our bank," Danny Alexander, vice president of the China-led Asia Infrastructure Investment Bank, said in an interview with Yonhap News Agency in Seoul Monday. "Korea's experience of the last 50 years of rapid eco
March 1, 2017
-
[Graphic News] Men still dominate in global IT firms
A recent survey showed that men still dominate major tech companies.Among the eight leading tech firms such as Google, Facebook and Microsoft, none of them had workforces that were more than 50 percent female, according to German-based research firm Statista. The company with the most balanced workforce was PayPal, at which 44 percent of workers were women. This was followed by eBay, Amazon.com and Twitter. Microsoft came at the bottom among the surveyed companies at 26 percent.The imbalance is
TechnologyFeb. 28, 2017
-
[MWC] Samsung, Reliance Jio to connect rural India
Samsung Electronics said it will team up with India’s Long Term Evolution mobile operator Reliance Jio Infocomm to build more high-speed wireless communication networks in India’s remote regions as well as major cities.Tapping the rapidly growing telco market in India, South Korea’s tech giant clinched an exclusive deal with Jio in 2012 to supply 4G LTE network equipment. After two years of network building across India between 2014 and 2016, the Indian telco firm launched the service in Septemb
TechnologyFeb. 28, 2017
-
Govt. recoups W2.2tr of public funds via Woori sale
The South Korean government said Tuesday it recouped 2.24 trillion won ($2 billion) of bailout funds, mostly used to help financial companies reeling from the 1997-98 Asian financial crisis, in the fourth quarter of last year.The retrieval of taxpayers' money came mostly from the sale of Woori Bank, a major lender here, according to the Financial Services Commission. The headquarters of Woori Bank in central Seoul. (Yonhap)The state-run Korea Deposit Insurance Corp. sold its 29.7-percent stake
Feb. 28, 2017
-
Samsung SDI names memory chip veteran as new CEO
Jun Young-hyun (Samsung SDI)Jun Young-hyun, president of the device solution division of Samsung Electronics, has been nominated as the new president of battery maker Samsung SDI, the company announced Tuesday. Executive directors at Samsung SDI tapped Jun, a memory chip veteran, to succeed the current CEO Cho Nam-seong at a board meeting. Cho tendered his resignation, citing personal reasons on the same day. “This nomination is not related to a rumored organization reshuffle before the expected
TechnologyFeb. 28, 2017
-
Lufthansa Group names new Korea GM
Lufthansa Group Airlines said Tuesday it had appointed Andrew Kim as its new general manager for its Korean branch, effective Wednesday.Korean-American Andrew Kim joined Lufthansa German Airlines in 2005 and has held various leading positions in sales, corporate accounts and commercial and passenger business. Andrew Kim (Lufthansa)Kim has served postings in Korea, Singapore, Indonesia and Malaysia. He most recently served as the General Manager in Indonesia and Malaysia.“Based on his in-depth un
IndustryFeb. 28, 2017
-
Lotte's THAAD decision stokes fear of Chinese retaliation
Lotte Group‘s decision to provide land for the installment of an anti-missile Terminal High-Altitude Area Defense battery here is stoking fears about the possibility of economic retaliation from China.On Monday, Lotte Group decided to swap its golf course in Seongju, North Gyeongsang Province, for a military property in Namyangju, Gyeonggi Province, to allow the installment of the THAAD battery in the southern region.Although the swap was initially worked out last November, it had faced continue
IndustryFeb. 28, 2017
-
[MWC] 'LG smartphone focuses on basics'
BARCELONA -- LG Electronics, in its newest attempt to seize the global smartphone market, is choosing fundamentals over “unnecessary” innovation, its chief said Monday. “(The) LG smartphone has so far targeted a niche market for a minority of enthusiasts. However, as the smartphone market has become more mature, it is becoming hard to make new innovation,” LG Electronics chief Jo Seong-jin told reporters Monday at Mobile World Congress, which kicked off in Barcelona on the same day. “Instead of
TechnologyFeb. 28, 2017
-
[From the scene] Virtual reality headlines MWC
BARCELONA -- It looks like a tiny ride at an amusement park: a rider wearing three-dimensional goggles is shaken upside down, left and right, while bound to a chair.What may appear amusing and even a little funny to bystanders is actually an incredible journey for the user who is experiencing a simulated world of space, made real by virtual reality.The ride named Astro Ship by Samsung Electronics is one of the most sought-after rides at the Mobile World Congress held this week in Barcelona, Spai
TechnologyFeb. 28, 2017
-
State railroad operator decides to fire 89 unionists over strike
South Korea's state-run railway operator has decided to fire 89 workers for leading its longest-ever strike last year, its labor union said Tuesday.Thousands of workers of the Korea Railroad Corp. staged a 74-day walkout from late September to early December to protest the government's implementation of a performance-based pay system. (Yonhap)On Monday, the company informed the Korean Railway Workers' Union of its decision to dismiss 89 senior union officials and take other disciplinary actions,
IndustryFeb. 28, 2017
-
Talk of economic crisis lingers
The country’s top financial and monetary policymakers came forward last week to dismiss the possibility of South Korea being drawn into an economic crisis in the coming months amid rising uncertainties at home and abroad.Some economic watchers have cautioned that Asia’s fourth-largest economy may fall into trouble, probably in April, when the US might designate it a currency manipulator and a large amount of debt falls due for a faltering shipbuilder. (123RF)These factors would be added to a con
Feb. 28, 2017
-
Samsung disbands scandal-hit control tower
Samsung Group on Tuesday announced the group will disband its controversial control tower, the Corporate Strategy Office, to take responsibility for its involvement in a corruption scandal that led to the impeachment of President Park Geun-hye and the arrest of the group’s de facto leader Lee Jae-yong. The announcement was made after the special counsel wrapped up its 70-day investigation into the scandal on the same day as it failed to win acting President Hwang Kyo-ahn’s approval for an extens
IndustryFeb. 28, 2017
-
NPS’ annual return marks 4.75 percent in 2016
South Korea’s state pension fund said its annual investment return inched up by 0.18 percent to 4.75 percent in 2016 from a year earlier.According to the National Pension Service, the size of its fund swelled to 558.29 trillion won ($493.74 billion) as of the end of 2016, up 9 percent from 512.3 trillion won a year earlier. NPS in Jeonju, North Jeolla Province. (Yonhap)Out of its total assets, 557.7 trillion won is being managed in the financial sector. More than half of the fund, or 50.7 percen
Feb. 28, 2017
-
HMM’s normalization accelerating
With Hanjin Shipping’s bankruptcy declared earlier last month, Hyundai Merchant Marine, now South Korea’s only major shipping line, is expected to fill the vacuum, supported by government rescue schemes and positive signs in the industry, analysts and industry watchers said Tuesday. “After hitting the bottom in 2015 and 2016, the shipping industry seems to be improving with increased freight rates and eased competition,” Um Kyung-a, an analyst at Shinyoung Securities
CompaniesFeb. 28, 2017
-
Celltrion pledges rapid growth with biosimilars in 2017
South Korean biopharmaceuticals company Celltrion is expecting a rapid growth of its business this year, as sales of its biosimilars are likely to take off in the US and Europe, according to the company’s founding Chairman Seo Jeong-jin.“I believe that 2017 will be an important year that marks the beginning of Celltrion’s rapid growth,” said Seo during an event in Seoul on Monday to commemorate the company’s 15th anniversary. “We will continue to leap forward for greater growth without losing si
IndustryFeb. 28, 2017
-
GM Korea delays Chevy Cruze deliveries to March on possible defect
GM Korea Co. said Tuesday that it has decided to postpone deliveries of the all-new Chevrolet Cruze compact car due to possible problems.The South Korean unit of US carmaker General Motors Co. said it will likely be delivering the new car to South Korean customers in March after making sure its latest products are "flawless.""GM Korea is pushing back the start of deliveries for the all-new Cruze to March based on the policy of its highest leaders to deliver vehicles after securing flawless quali
MobilityFeb. 28, 2017
-
Kakao Navi emerges strong one year after launch
One year into its launch, Kakao’s mobile navigation app Kakao Navi has hosted 730 million trips totaling a combined distance of 20.6 billion kilometers, the South Korean mobile messenger giant said Tuesday. This distance is equivalent to circumnavigating Earth 515,000 times, Kakao said as it laid out the app’s notable records and achievements to mark its first anniversary.Kakao Navi was born through Kakao’s acquisition of the operator of local car navigation app Kim Gisa, or Driver Kim, last yea
TechnologyFeb. 28, 2017
-
Japanese brands making rapid growth in South Korea
South Korea and Japan continue deep-rooted diplomatic feuds over their history marred by 36 years of Japanese colonial rule over the Korean Peninsula that ended in 1945, but retail sale records show that Japanese labels are reaping extraordinary profits in South Korea.Japan's fast fashion brand Uniqlo is the top SPA (special store retailer of private label apparel) brand in sales in South Korea, according to an industry tally as of Monday. After opening its first store in South Korea in 2005, Un
IndustryFeb. 28, 2017
-
Samsung heir to be indicted on bribery charges in corruption probe
Lee Jae-yong, the de facto leader of Samsung Group, will be indicted on charges of bribery, the independent counsel said Tuesday, as investigators wrap up their four-month-long probe into an influence-peddling scandal centered on impeached President Park Geun-hye.Prosecutors suspect that Lee, vice chairman of Samsung Electronics Co., gave or promised some 43 billion won ($36.3 million) worth of bribes to the president's jailed friend Choi Soon-sil in return for the government's backing of a merg
IndustryFeb. 28, 2017