Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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South Korea open to Indonesian proposal to cut KF-21 payments
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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Yoon rebuffs opposition's call for special probe into wife
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Arrest warrant issued for medical student for allegedly killing girlfriend after breakup
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S. Korea to let doctors with foreign licenses practice
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Stray Kids hit with racism in Met Gala photo line
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Seoul shares start higher on rebounding oil prices
South Korean stocks opened higher Thursday as oil prices bounced back from a multi-year bottom, helping lift investor sentiment here.The benchmark Korea Composite Stock Price Index added 6.17 points, or 0.31 percent, to 2,005.39 in the first 15 minutes of trading.U.S. crude futures jumped 3.8 percent to $37.50 a barrel on the New York Mercantile Exchange, supporting the battered energy sector on Wall Street on Wednesday.Construction and steel shares were in positive terrain. Samsung C&T, the con
Dec. 24, 2015
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Korea's public sector debt hits 64.5% of GDP
South Korea's public sector debt rose to 957.3 trillion won ($815 billion) in 2014, or 64.5 percent of the country's gross domestic product, the government said Thursday.According to the finance ministry, the country's public sector debt, or D3 which takes into account both general government and non-financial corporation debt, and deducts internal transactions, rose by 58.6 trillion won from the year before. In 2013, the country's public sector debt stood at 898.7 trillion won, or 62.9 percent
Dec. 24, 2015
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Local firms may face liquidity problem following U.S. rate hike: BOK chief
South Korea's top central banker has warned against a potential liquidity crisis for local firms stemming from the recent U.S. rate hike, while urging his country to speed up restructuring.Bank of Korea Gov. Lee Ju-yeol has repeatedly insisted any shock from a U.S. rate hike on the local economy will be limited, citing the country's strong economic fundamentals.While meeting with reporters late Wednesday, the BOK chief reiterated that the impact from a U.S. rate hike on the whole economy will be
Dec. 24, 2015
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HDC Shilla partially opens duty-free store in downtown Seoul
A joint venture between Hotel Shilla and Hyundai Development partially opened their new duty-free store in downtown Seoul on Thursday, gearing up for a grand opening in March.The outlet is located in the Hyundai I'Park Mall in Yongsan, the railway hub nestled in between key tourist spots scattered north and south of the Han River.Shilla Hotel, a hotel chain under South Korea's biggest conglomerate the Samsung Group, is in charge of running duty-free shops, while Hyundai Development, a local buil
IndustryDec. 24, 2015
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Seoul to probe fuel efficiency of Volkswagen cars
Despite emission cheating scandal, Tiguan named best-selling foreign car in KoreaThe government said on Thursday that it has reached a preliminary conclusion that the device that manipulated emissions levels of Volkswagen’s diesel vehicles is correlated to their fuel efficiency. In an analysis of test data provided by the Environment Ministry, the Transport Ministry learned that the defeat device software could have an impact on fuel efficiency, an official said. To confirm it, the ministry will
MobilityDec. 24, 2015
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Korea's consumer sentiment worsens in Dec.
The overall sentiment of South Korean consumers slightly worsened from a month earlier in December apparently due to a growing number of people predicting worse economic conditions down the road, central bank data showed Thursday.The composite consumer sentiment index for December came to 103, compared with 106 the previous month, according to the data from the Bank of Korea. (Yonhap)A reading above 100 means optimists outnumber pessimists.The index had been on a steady rise since it slipped to
Dec. 24, 2015
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LG's latest V10 smartphone makes strong debut in U.S.
South Korea's No. 2 handset maker LG Electronics Inc. said Thursday that it has sold more than 450,000 units of the V10, its latest high-end smartphone, in the United States, less than two months after its official launch.The figure translates into 10,000 units per day, the company said.LG said the V10 was especially popular with the younger generation, with 37 percent of its consumers aged between 25 and 34.The 5.7-inch LG V10 features a QHD IPS Quantum display and a small rectangular screen ab
TechnologyDec. 24, 2015
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Volkswagen's Tiguan sales to top foreign brands despite tarnished image
German carmaker Volkswagen's Tiguan is on track to top foreign brands in terms of sales in South Korea this year despite its brand image being tarnished by the worldwide fake emission scandal, industry data showed Thursday.Its relatively cheap price and Volkswagen's ramped-up promotion efforts since September to tide over the crisis caused by the scandal attributed to the brisk sales.According to the Korea Automobile Importers & Distributors Association and other industry data, Volkswagen Korea,
MobilityDec. 24, 2015
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Hyosung honors injured soldiers with ‘Foot of Peace’
An artwork installation commemorating South Korean military soldiers’ sacrifice for national security was installed at the Nuri Peace Park in Imjingak, northern Gyeonggi Province, in a ceremony Wednesday.The piece was installed by Hyosung Group, which provided financial support of 200 million won ($170,000). Hyosung president Cho Hyun-joon (fourth from right) and military officers applaud at the installation ceremony of the artwork, “The Foot of Peace,” at Nuri Peace Park in Imjingak on Wednesda
IndustryDec. 23, 2015
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KEPCO E&C tops global sales in nuclear power plant design
Korea Electric Power Corporation Engineering and Construction on Wednesday said it generated a world-best $126 million in overseas sales for nuclear power plant design in fiscal 2014.The KEPCO affiliate topped the chart for the fourth consecutive year since 2011. The ranking is based on research by U.S.-based Engineering News-Record on the sales performances in the previous year of the top 225 international design firms.“Designing four units of power plants in Barakah of the United Arab Emirates
IndustryDec. 23, 2015
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Foreign direct investment surpasses $20b
The amount of foreign direct investment to South Korea exceeded $20 billion this year, with $15 billion having arrived here as of Tuesday, the Ministry of Trade Industry and Energy said Wednesday. The most ever investments of $20.43 billion is an increase of 11.2 percent from that of 2014, while the $15.19 billion that has reached the country is also a 28.6 percent jump during the same period. The authorities credited the Korea-China free trade agreement as the largest contributor. The pact, sig
IndustryDec. 23, 2015
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Shinsegae jumps into cosmetics manufacturing business
Shinsegae International, a luxury fashion unit of retail giant Shinsegae Group, Wednesday announced its advancement into the cosmetics industry by collaborating with Italian beauty product maker Intercos. Shinsegae, famous for acquiring the exclusive distribution rights of a slew of global high-end perfume brands here, expects to pierce the luxury market with its own brand, while Intercos is hoping to get a strong foothold in the Asian market, the company said. Intercos is a globally leading ori
IndustryDec. 23, 2015
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Oil price likely to sink even lower
Oil prices, which have already hit the lowest mark in a decade, could fall further in the first half of next year, partly due to the resumption of Iranian supply, officials and experts here said Wednesday.At a forum hosted by the Trade Ministry, experts forecast that the benchmark oil price could hover around $40-$50 a barrel next year. However, it could fall rapidly when Iran increases its oil exports in the wake of the lifting of international sanctions, they said. (Yonhap)It may take some tim
IndustryDec. 23, 2015
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‘Korean start-ups still in need of trailblazers’
PALO ALTO, California ― After 20-year-old Pak Se-ri triumphed as the youngest winner of the 1998 U.S. Women’s Open in her rookie year, her success, followed by 24 more tour wins, inspired a wave of young Koreans looking to follow her lead. Today, Korea dominates women’s golf, as a new generation of players including Choi Na-yeon and Park In-bee ― called “Seri Kids” by the Korean media ― have followed the World Golf Hall of Famer’s footsteps in the LPGA.Korea’s start-up industry is a lot like the
TechnologyDec. 23, 2015
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[Graphic News] IPOs to hit 13-year high
The number of companies which went public this year on the main KOSPI and tech-heavy KOSDAQ markets reached the highest in 13 years, data showed on Wednesday.As of Tuesday, a total of 119 companies have listed on the stock markets, 17 on the benchmark KOSPI and 102 on the secondary KOSDAQ, according to Korea Exchange. By the end of this year, nine more companies will join the IPO march, two on the KOSPI and seven on the KOSDAQ.This 2015 figure is the largest since 2002 when 178 firms went public
Dec. 23, 2015
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Hanwha E&C opens 50th library for the disabled
Hanwha Engineering and Construction opened its 50th “Kkumegreen Library” at the Seoul Eden Welfare Center for the Disabled on Wednesday, company officials said.Attending the opening event was Hanwha E&C CEO Choi Kwang-ho and around 30 company executives and welfare center employees.The Kkumegreen Library project is a social welfare program by Hanwha held in collaboration with the Seoul Association of Welfare Institutes for the Disabled. Hanwha E&C CEO Choi Kwang-ho (second from left) helps make
IndustryDec. 23, 2015
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Is growth forecast more hope than judgment?
The government has reduced its 2016 growth forecast for the Korean economy twice by 0.2 percent each since June.Its latest prediction that the country’s gross domestic product will increase by 3.1 percent in real terms next year is still rosier than the estimates of local research institutes.The Korea Development Institute, a state-run think tank, said in a recent report that the country’s GDP growth rate was expected to reach 3 percent next year. It cautioned, however, the number could be lower
Dec. 23, 2015
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LG to unveil new premium brand Signature at CES
LG Electronics said Wednesday it would unveil its new high-end home appliance brand “LG Signature” during the upcoming Consumer Electronics Show in Las Vegas next month. After its official debut at the world’s largest electronics trade show, the brand will roll out in the U.S., Europe and Korea in the first half of next year, the company said. The new brand represents the sleek design and upgraded product quality of its high-end home appliances. This is the first time for LG to have a subbrand
TechnologyDec. 23, 2015
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LG Uplus CEO stresses ‘field management’
LG Uplus CEO and vice chairman Kwon Young-soo made his first visit to retail shops in Seoul and Gyeonggi Province to inspect sales activities and encourage employees this week. Kwon took office on Nov. 27 to lead the nation’s No. 3 telecom company. Over the past month, the company said he has met executives, managers and working-level employees to better communicate with them. “Creative services can make a big difference. We can find solutions through field management,” he said during a store v
TechnologyDec. 23, 2015
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SK’s hemophilia drug begins EU approval process
SK Chemicals, the pharmaceutical unit of South Korea’s SK Group, said Wednesday it has submitted its self-developed hemophilia drug NBP601 for review and subsequent approval by the European Medicines Agency. The announcement, which comes as SK awaits the drug’s approval from the U.S. Food and Drug Administration, draws the company a step closer toward commercializing the recombinant DNA drug in global markets. SK Chemicals` hemophilia drug NBP601 (SK Chemicals) Lifted by the positive sales outlo
IndustryDec. 23, 2015