Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Hyundai, Kia log record RV sales in U.S.
South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. sold a record number of recreational vehicles in the United States this year, driven by strong demand for cars designed for outdoor and leisure activities, industry data showed Sunday. During the first 11 months this year, Hyundai and Kia sold a combined 484,381 RVs, including SUVs, station wagons and minivans, according to the data. The figure already outnumbers the 460,561 RVs that the two auto giants so
IndustryDec. 20, 2015
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In-flight passenger misconduct on the rise: report
The number of passengers cited for unlawful activities or misconduct on domestic and international flights to and from South Korea is growing, partly due to the sheer rise in the number of air passengers, a government report showed Saturday.In the first 10 months of the year, the number of in-flight passenger misconduct cases came to 369, already surpassing the annual total of 354 from last year, according to a report from the Ministry of Land, Infrastructure and Transport submitted to ruling pa
IndustryDec. 19, 2015
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Moody's upgrades S. Korea's rating to all-time high of Aa2
Global rating agency Moody's upgraded South Korea's sovereign credit rating to Aa2 from Aa3, the highest-ever rating the fourth largest Asian economy has received from an international credit rating agency.Moody's changed the outlook to stable from positive."The key drivers of the upgrade are Moody's expectations that Korea's credit metrics will remain strong and resilient compared to rating peers and that Korea's very high institutional strength will support continued implementation of structur
Dec. 19, 2015
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Oil rout to haunt Seoul stock market next week
South Korean stocks are expected to go wobbly next week as faltering oil prices would exacerbate prolonged concerns over the global economic downturn, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,975.32 on Friday, down 2.3 percent from a week ago, marking the third straight week of declines.The market started bearish this week following the sharp fall in oil prices the previous week that also battered the U.S. shares.Investors, however, began picking up risky
Dec. 19, 2015
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Tesla Motors ready to enter Korea
Tesla Motors, a U.S. premium electric carmaker, is preparing to enter the Korean market by completing the registration of its Korean unit with the local authorities, Yonhap news agency reported Friday.According to the Supreme Court and inside sources in the auto industry, Tesla registered the corporate name of “Tesla Korea Ltd.” here on Nov. 13.The corporate registration documents state Tesla general counsel Todd A. Maron and director Susan Jean Repo as co-CEOs with a total capital of 100 millio
IndustryDec. 18, 2015
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Hotel Lotte to apply for IPO next week
Hotel Lotte is reportedly set to file its application for listing on the nation’s main stock bourse early next week, according to sources Friday. They noted that the hotel unit of South Korean retail giant Lotte Group will submit its application to the Korea Exchange on Monday for a preliminary regulatory review of its initial public offering, which will mark the company’s debut on the stock market as early as March.Hotel Lotte in Seoul (Yonhap) The move was expected as Lotte Group chairman Shin
IndustryDec. 18, 2015
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Conglomerates bet on car-sharing business
Kim Jung-hoon, a 32-year-old office worker, reserved a SM5 vehicle parked near his home in Seoul for 30 minutes last weekend via a car sharing service -- a form of short-term vehicle rental in which users pay by the minute and distance traveled. All he had to do was search for a desired vehicle near his house, select a rental time period, which can be extended every 10 minutes, and digitally access the car via a smartphone app run by SoCar, a leading car sharing service operator. “It’s such an e
IndustryDec. 18, 2015
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Hyundai Card sets models for going mobile
Hyundai Card’s “Digital Hyundai Card” project, launched in October, has set benchmarks for the future of digital cards.The company said its digital card has tried to go a different path from the typical mobile cards that other card companies offered.While card companies provided a mobile-only card that simply digitizing the credit card system, the Digital Hyundai Card differentiated itself by providing additional services using digital technology based on customers’ needs. Image of Digital Hyund
IndustryDec. 18, 2015
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[Photo News] Samsung launches Galaxy Note 5 special edition
SAMSUNG GALAXY NOTE 5 SPECIAL EDITION -- Samsung Electronics rolls out the Galaxy Note 5 Winter Special Edition, equipped with 128 gigabytes of built-in memory, a much larger capacity in comparison with previous 32-gb and 64-gb models, in Korea on Friday. The limited Note 5 winter edition comes in two colors -- gold platinum and silver titanium. (Samsung)
TechnologyDec. 18, 2015
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[Photo News] LG runs marketing campaign for premium kitchen appliances in U.S.
MARKETING BLITZ FOR PREMIUM KITCHEN APPLIANCES IN U.S.-- Designer David Bromstad (first from left), Cho Ju-wan (second from left), the head of LG Electronics’ U.S. division, designer Emily Henderson (third from left) and David VanderWall, vice president of marketing at LG, pose at a promotional event for Black Stainless Steel, LG’ premium kitchen appliance lineup, in New York on Thursday. (LGE)
TechnologyDec. 18, 2015
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Ikea overhauls Korean home furnishing
South Korea’s home furnishing market has grown rapidly in recent years as Koreans begin to renovate and decorate their aging homes, but there’s another reason for this year’s growth -- the local opening of Swedish furniture giant Ikea. Industry insiders said the arrival of Ikea acted as a major driver for the local furniture firms to overhaul their business strategies, including distribution and online channel expansions, as well as cost-cutting efforts to sharpen their competitive edge over the
IndustryDec. 18, 2015
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Gold Heads for Weekly Loss as Vibrant Dollar Diminishes Demand
Gold headed for a second weekly decline, trading near the lowest in more than five years, after the Federal Reserve's first rate rise in almost a decade boosted the dollar and hurt demand.Bullion for immediate delivery traded 0.4 percent higher at $1,054.99 an ounce at 10:27 a.m. in Singapore, set for a weekly fall of 1.8 percent, according to Bloomberg generic pricing. The metal fell as much as 2.3 percent on Thursday to $1,047.79, near the Dec. 3 low of $1,046.44. It has dropped for eight of t
Dec. 18, 2015
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Asia markets hit as oil sinks and Fed effect wears off
Asian stock markets fell back on Friday after a two-day rally boosted by the Federal Reserve's interest rate hike, as the rout in oil prices returned to centre stage, with commodity-linked shares again taking a hit.Exchanges from New York and Sao Paolo to London and Tokyo cheered the Fed's widely-expected decision Wednesday to lift borrowing costs for the first time in almost a decade, which was taken as a sign of its confidence in the world's top economy.However, while European equities extende
Dec. 18, 2015
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Samsung Pay joins forces with China's UnionPay
South Korea's top tech firm Samsung Electronics Co. said Friday it has agreed with China's credit card operator UnionPay Co. to cooperate in promoting its new mobile payment system in the Chinese market.Under the deal, the two firms will aim to release Samsung Pay in the first half of 2016.Samsung Pay supports magnetic secure transmission technology that works on traditional credit card machines. Like rivals Apple Pay and Android Pay, it also supports near field communication technology that req
TechnologyDec. 18, 2015
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Profit-making corporations post higher sales, more assets in 2014: report
Profit-making corporations in South Korea reported an overall rise in sales and more assets in 2014 compared to the year before, helped by growth in the country's service sector, the government said Friday.According to Statistics Korea, there were 540,508 profit-making firms in the country last year, up 6.9 percent from 505,760 in 2013. It said that combined sales of these companies stood at 4,189 trillion won ($3.53 trillion), a gain of 58 trillion won from the year before with combined assets
IndustryDec. 18, 2015
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Seoul city opens website about medical tourism programs
The Seoul Metropolitan Government said Friday that it has opened a website that provides information on medical tourism programs in the city in four languages.The Medical Tour Seoul web site (http://medicaltourseoul.com) aims to help foreigners coming to the city for medical tours in English, Chinese, Japanese and Russian, according to the city government.The municipal government said it also plans to provide the service in Arabic starting from the first half of next year.The website provides de
TechnologyDec. 18, 2015
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Korean snacks make solid overseas inroads
Famous Korean snacks have captivated the taste buds of Asian consumers, making overseas sales more important for local confectionery companies grappling with slower growth on home turf, data showed Friday. Major Korean confectionery companies are increasingly setting their sights on a wider market after seeing robust growth in China and Southeast Asia over the past years. Orion Confectionery Co. is leading the latest trend with double-digit growth in sales of its potato chips, choco snacks and
IndustryDec. 18, 2015
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Samsung Engineering-led group wins $800 mn plant order
Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerate Samsung Group, said Friday its consortium has a received a US$800 million order to build a petrochemical plant in the United States.Under the deal, Samsung Engineering will get $430 million for design and procurement, while its consortium partner Chicago Bridge & Iron Company will be in charge of the construction estimated at $370 million.The project, launched by the U.S. subsidiary of Lotte Chemical Co., invol
IndustryDec. 18, 2015
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Seoul shares start lower on extended slump in oil prices
South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as investors locked in profits amid lingering concerns over faltering oil prices.The benchmark Korea Composite Stock Price Index shed 13.8 points, or 0.7 percent, to 1,964.16 in the first 15 minutes of trading.Following three sessions of gains, the Dow Jones industrial average shed 1.5 percent on Thursday and the Nasdaq dropped 1.35 percent, after U.S. crude fell to the lowest level since February 2009.The selling
Dec. 18, 2015
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Galaxy S7 to focus on performance over design: sources
Samsung Electronics Co.'s new flagship smartphone, presumably the Galaxy S7, is set to be showcased at a tech exhibition slated for February, an industry source said Friday, with the device expected to put more emphasis on performance over design.The South Korean tech giant will reveal the new Galaxy at the Mobile World Congress 2016 in Barcelona, the source said, with the official release slated for March. Industry watchers said the Galaxy S7 will look similar to its predecessor, the Galaxy S6,
TechnologyDec. 18, 2015