Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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South Korea open to Indonesian proposal to cut KF-21 payments
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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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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] Is Hybe-Ador conflict a case of growing pains?
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Samsung Pay, Apple Pay to vie in China
Rival mobile-payments services Samsung Pay and Apple Pay will compete head to head in the all-important Chinese market next year. Samsung Electronics and Apple on Thursday announced separate deals with state-owned bank card network China UnionPay Bank that will allow customers to add credit or debit cards to their respective mobile-payments services. The services would start in China as early as the first quarter of next year after the tests and certifications required by the Chinese regulators.
TechnologyDec. 20, 2015
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Genesis EQ900: Car is good, work to do on market positioning
The Genesis EQ900Hyundai MotorThere was much hype surrounding the Genesis EQ900, the first flagship sedan under Hyundai Motor Group’s newly launched premium standalone brand, Genesis. The world’s fifth-largest carmaker has put all its efforts in placing the brand on par with or beyond German luxury carmakers such as BMW and Mercedes-Benz. It has invited the press on five occasions to heat up the vibe while providing chauffeured test-drives around Seoul to potential customers. And the market has
MobilityDec. 20, 2015
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[Photo News] KDB opens new branch in Qingdao
KDB’S QINGDAO BRANCH -- Korea Development Bank chairman Hong Ky-ttack (seventh from left) poses with Shandong Province Vice Gov. Xia Geng (sixth from left), South Korean Consul General in Qingdao Lee Soo-john, and bank officials of both countries at the launching ceremony of KDB’s Qingdao branch in Shandong province on Friday. (KDB)
Dec. 20, 2015
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[Photo News] Woori Bank signs cooperative agreement with Indonesia Investment Coordinating Board
INVESTMENT TIES WITH INDONESIA -- Woori Bank president Lee Kwang-goo (left) poses with Indonesia Investment Coordinating Board chairman Franky Sibarani after signing a mutual cooperative agreement for strategic partnership in downtown Seoul on Friday. (Woori Bank)
Dec. 20, 2015
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Debt policies, U.S. rate hike pull down apartment market transactions
(123RF)Korean housing market transactions for speculation turned bearish in December, amid toughened household debt control policies, housing oversupply and uncertainties from the U.S. rate hike, municipal government data showed on Sunday. As of Dec. 18, the apartment market transactions stood at 5,470 deals, accounting for only 55 percent of the monthly transactions in November, according to Seoul Property Information Plaza, a housing market information provider operated by the municipality of
Dec. 20, 2015
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WTO members to end all farm export subsidies by 2023
All members of the World Trade Organization must halt farm export subsidies by 2023 as part of an ongoing effort to lower trade barriers and increase cross-border commerce, the government said Sunday. According to the Ministry of Trade, Industry and Energy, the members reached an agreement at the WTO's latest ministerial talks in Nairobi on key issues related to the agriculture sector that had been a sticking point in the long-drawn Doha Development Agenda talks. Under the agreement, all leadi
Dec. 20, 2015
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U.S. rate hike to slightly affect Asia's monetary easing
A recent U.S. interest rate hike is expected to have a limited impact on ongoing monetary easing measures being pursued by Asian countries, financial analysts said Sunday. Analysts from Barclays, HSBC and Bloomberg, as well as local market watchers, said that while last week's move by the Federal Open Market Committee to raise the target range of the federal fund rate from 0-0.25 percent to 0.25-0.50 percent has reverberated in places like the Middle East, Africa and Latin America, it has not c
Dec. 20, 2015
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Private think tank cuts Korea's 2016 growth forecast to 2.5%
South Korea's economic growth rate will likely slow to 2.5 percent in 2016 due to a continued export slump and weakening domestic consumption, a leading private think tank forecast Sunday. The prediction by the LG Economic Research Institute marks a 0.2 percentage point drop from its earlier estimate made in September. LGERI's revised growth projection is also lower than the government's 3.1 percent estimate for next year and the Bank of Korea's 3.2 percent forecast. The think tank, however,
Dec. 20, 2015
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Gov't pushing to reorganize special economic zones
South Korea's government will push to reorganize the country's numerous special economic zones that have failed to meet expectations, the finance ministry said Sunday. The ministry said plans by 14 regional administrations to build more than 200 free economic zones, industrial innovation centers, and research and development zones have not moved forward as planned. Of these, the country has some 90 special regions dedicated to attracting foreign investments, eight large free economic zones and
Dec. 20, 2015
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Hyundai's Creta SUV named 2016 Car of the Year in India
The Creta, a small SUV made by Hyundai Motor Co., has been named the Indian Car of the Year 2016 thanks to its strong popularity in the world's No. 4 car market, Hyundai said Sunday. The Creta, which was rolled out in July, outrivaled 12 other models, including Honda's Jazz, in seven categories such as sales records, price, performance, fuel efficiency and safety, said Hyundai, South Korea's top automaker. The Creta crossover SUV is the fourth Hyundai model that has earned the prestigious award
IndustryDec. 20, 2015
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FTAs with China, Vietnam, New Zealand go into effect
Free trade pacts between South Korea and three of its trading partners -- China, Vietnam and New Zealand -- went into effect Sunday, raising hopes they could boost trade and economic growth, the government said. The Ministry of Trade, Industry and Energy said all three free trade agreements that were signed and ratified earlier in the year went into force. Under the terms of the agreements, the countries will all lower tariffs on goods traded as of Sunday and once again on Jan. 1. China will
Dec. 20, 2015
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POSCO C&C to export new aluminum-coated steel sheet to U.S. firm
POSCO C&C Co., a South Korean maker of coated steel sheets, has signed a contract to supply annually more than 10,000 tons of a highly corrosion-resistant, aluminum-coated steel sheet to a U.S. auto parts producer, its parent company said Sunday. Under the deal, POSCO C&C will supply AP Emissions Technologies, the leading aftermarket exhaust and emissions supplier in America, with over 10,000 tons of its latest coated steel sheet, dubbed "Super Alcosta," over the next four years, according to P
IndustryDec. 20, 2015
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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