Most Popular
-
1
No plan to let doctors with foreign licenses practice here anytime soon: PM
-
2
Ador CEO's dismissal to be decided on last day of May
-
3
Science Ministry expresses regret over Japan’s pressure on Naver
-
4
Haeundae Beach to become sand art museum in late May
-
5
Hostilities get out of hand as YouTuber murders another outside courthouse
-
6
Yoon interacts with public for 1st time since election defeat
-
7
[Weekender] Pet food makers bet big on ‘recession-free’ pet food market
-
8
Police officer jumps barefoot into drainage tunnel to save man
-
9
Lee Sun-kyun's posthumuous film to hit theaters in August
-
10
N. Korea says to deploy new multiple rocket launcher starting this year
-
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
-
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
-
‘Streaming music boon to music industry’
Often touted as a game changer in the music industry, growing streaming music services are a bone of contention in Korea as in many other global markets.Concerned over the idea of “free music” services on the streaming platforms, the nation’s major music copyright groups are not shy in expressing their displeasure, arguing that streaming music negatively impacts the music industry.The head of Korea’s first and largest ad-supported music streaming services firm said the opposite: The streaming mu
TechnologyDec. 23, 2015
-
Hyundai Rotem develops high-speed transfer system for steel press
Hyundai Rotem, a plant equipment manufacturing affiliate of Hyundai Motor Group, said Wednesday it has successfully developed its own high-speed panel transfer system for use in tandem press lines. The system was unveiled to the public for the first time Tuesday during a presentation ceremony in Busan. A tandem press line is a machine that combines several press machines used for cutting and bending steel plates. Hyundai’s new system feeds panels into the tandem press 20 percent faster than thos
IndustryDec. 23, 2015
-
[Photo News] Roche Korea awarded for family-friendly work culture
AWARD FOR FAMILY-FRIENDLY WORK CULTURE — Roche Korea, the local affiliate of Swiss pharmaceutical giant Roche, was recognized Tuesday by the South Korean Ministry of Gender Equality and Family for its excellence in sustaining a family-friendly work culture. The company offers a number of employee benefits including flexible working hours, structural and financial child support and favorable policies for working mothers, among others. (Roche Korea)
IndustryDec. 23, 2015
-
[Newsmaker] Kakao in spotlight for fat paychecks
Kakao, Korea’s fast-sprawling mobile empire built on the omnipresent phone messaging service KakaoTalk, is in the public spotlight for fat paychecks. The KOSDAQ-listed firm was the highest-paying workplace among the top 100 companies by market capitalization in Korea last year, leading by a big margin a pack of older and larger corporate players such as Samsung Electronics.According to data compiled by CEO Score, an online business information provider, Kakao employees took home an average of 17
TechnologyDec. 23, 2015
-
Korean economy to grow 3% in 2016: KDB
The South Korean economy is expected to grow 3 percent in 2016 from this year on the back of increased corporate investment and a recovery in domestic demand, the state-run Korea Development Bank said Wednesday.In its latest economic outlook, the policy lender said that Asia's fourth-largest economy will likely "pull off a better performance next year than this year's 2.6-percent expansion as companies are expected to invest more and consumer spending should pick up."The forecast is rosier than
Dec. 23, 2015
-
Number of newly formed firms up 12.6% in 2014: data
The number of new companies grew by double digits in 2014 as more people took advantage of steady economic growth to go into business, government data showed Wednesday.In 2014, some 843,000 new companies were created, up 94,000 or 12.6 percent, from the year before, Statistics Korea said.Employees working for these companies reached over 1.34 million, a gain of 12.2 percent from a year earlier.The rise follows Asia's fourth-largest economy growing at a stable 3.3 percent, which is much better th
Dec. 23, 2015
-
Seoul shares up for 3rd day on growth hope
South Korean stocks gained 0.3 percent on Wednesday, rising for a third consecutive day ahead of the ex-dividend date, with steel and other metal stocks enjoying a rally on hopes for growth in the United States and China. The local currency rose against the greenback. The benchmark Korea Composite Stock Price Index added .66 points to end at 1,999.22. Trade volume was thin at 473.63 million shares worth 3.73 trillion won ($3.17 billion), with winners beating losers 417 to 384.Investors digested
Dec. 23, 2015
-
Korean conglomerates backtracking on responsible governance commitment
South Korea's big businesses are backtracking on their responsible governance obligations, a report by the country's antitrust watchdog showed Wednesday.According to the Fair Trade Commission, the percentage of owners or immediate kin who are listed as members of the board at affiliates of large family-run conglomerates stood at 21.7 percent, down 1.1 percentage point from the year before.The regulator said that this number has been falling steadily for some time, having stood at 27.2 percent in
CompaniesDec. 23, 2015
-
Korea breaks ground on creative economic zone
South Korea on Wednesday began construction of a creative economic zone south of the nation's capital as part of efforts to promote the country's flagship economic policy.South Korea plans to invest 1.5 trillion won ($1.27 billion) in establishing the 430,000-square-meter Creative Economy Valley in Pangyo, south of Seoul, which aims to host 1,600 companies employing more than 100,000 people.The plan calls for creating a high-tech industrial park that will be linked to the nearby Pangyo Techno Va
Dec. 23, 2015
-
South Korea revives Universal Studio theme park project
South Korea on Tuesday announced a consortium involving Chinese investors as a preferred bidder to build a theme park in partnership with U.S.-based Universal Parks and Resorts, reviving the project after a three-year hiatus.The state-run Korea Water Resources Corporation (K-Water) said it chose the multinational consortium consisting of Daewoo Engineering & Construction and Dohwa Engineering of Korea as well as China State Construction Engineering Corporation, China's largest construction compa
IndustryDec. 23, 2015
-
Korean housing permits surge in Nov.
South Korea's new housing permits jumped 27.7 percent on-year in November, government data showed Wednesday, a sign that the country's real estate market is continuing to make headway.The number of new home permits issued came to 62,823 last month, up from 49,181 a year earlier, according to the Ministry of Land, Infrastructure and Transport.November marked the 11th consecutive month of an on-year increase, although the pace slowed from the 41.2 percent surge tallied for the previous month."The
Dec. 23, 2015
-
Seoul shares up 0.6% in late morning trade
South Korean stocks traded 0.6 percent higher late Wednesday morning, led by gains in steel and chemical shares.The benchmark Korea Composite Stock Price Index added 1.87 points to 2,004.43 as of 11:20 a.m.Foreigners and institutions scooped up local shares across the board prior to the ex-dividend date.Steelmakers rallied on growing confidence in the U.S. and Chinese economies, with industry leader POSCO increasing 3.76 percent, and Hyundai Steel rising 5.89 percent.Petrochemicals traded bullis
Dec. 23, 2015
-
Korea to frontload 29.2% of 2016 budget in Q1 to spur growth
South Korea will frontload 9.2 percent of next year's budget in the first quarter to help prop up economic growth, the government said Wednesday.The finance ministry said it made the decision as the effect of the 11.53 trillion won ($9.84 billion) extra budget will end this year and could cause a drying up of state funds reaching the market. The injection of money is also needed as the government will again mark up excise taxes levied on cars and large consumer appliances in the new year, which
Dec. 23, 2015
-
Korean households' excess cash holdings shrink in Q3
Excess cash held by households and non-profit organizations here continued to dwindle in the third quarter due to a rise in demand for homes and a surge in home rental fees, central bank data showed Wednesday.Excess funds held by local households and non-profit organizations came to 20.2 trillion won ($17.24 billion) as of the end of September, compared with 24.9 trillion won three months earlier, according to the Bank of Korea.In the second quarter, the amount had slipped 4.7 trillion won from
Dec. 23, 2015
-
New climate deal could boost nuclear energy
As the new global climate accord reached in Paris earlier this month emphasized the role of nuclear energy in reducing greenhouse gas emissions, the state-run Korea Hydro & Nuclear Power Co. hosted a forum in Seoul on Tuesday to discuss the future of clean energy in preparation for the post-fossil fuel era. Organized by the Korea Atomic Industrial Forum, the discussion-driven event covered such agendas as the role of nuclear power in a low-carbon economy and Korea’s strategies to achieve its emi
IndustryDec. 23, 2015
-
Kia Motors to showcase autonomous driving technology at CES
Kia Motors Corp., South Korea's second-ranked automaker, plans to showcase its autonomous driving technology at a major consumer electronics exhibition to be held in the U.S. early next year, industry sources said Wednesday.Kia Motors plans to hold a press conference during the Consumer Electronics Show 2016 to be held in Las Vegas on Jan. 6-9 where it will display its autonomous driving and IT connectivity technology. It will also make a presentation on future direction in the field, according
MobilityDec. 23, 2015
-
Seoul shares start lower on lack of momentum
South Korean stocks opened marginally lower Wednesday due to a lack of buying momentum ahead of the holiday season. The benchmark Korea Composite Stock Price Index edged down 1.95 points, or 0.1 percent, to 1,990.61 in the first 15 minutes of trading.Petrochemicals were up as crude oil prices recovered slightly from a multi-year low.Top refiner SK Innovation increased 1.86 percent, and No. 3 refiner S-Oil edged up 0.74 percent. Engineering and builders were in negative terrain. Samsung Engineeri
Dec. 23, 2015
-
IPOs to hit 13-year high in 2015
The number of newcomers to South Korea's stock market reached the highest in 13 years, with more standing in line for a market debut, data showed Wednesday.As of last Tuesday, a total of 119 companies went public on the main KOSPI market or the tech-laden KOSDAQ market this year, with another nine scheduled to make a stock market debut by year's end, according to data compiled by the Korea Exchange.By market, 17 firms made a debut on the KOSPI market, with two more to go public this year, and th
Dec. 23, 2015