Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
[Music in drama] Rekindle a love that slipped through your fingers
-
4
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
5
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
6
Seoul Metro to seek legal action against malicious complaints
-
7
On May Day, labor unions blast Yoon's foreign nanny proposal
-
8
Illit, mired in controversy, remains on Billboard charts for 5th week
-
9
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
10
[KH Explains] Will alternative trading platform shake up Korean stock market?
-
Brokerage firms raided on inside trading
Prosecutors said Monday they have raided seven brokerages for alleged illegal bond trading involving an asset manager at a foreign brokerage firm. The companies are suspected of illegally trading bonds while conspiring with a local unit of Australia-based asset manager Macquarie Funds Group. They are I'M Investment & Securities Co., Kiwoom Securities Co., KTB Investment & Securities Co., HMC Investment Securities Co., Hyundai Securities Co., Shinyoung Securities Co. and Dongbu Securities Co.
April 27, 2015
-
Chaebol's system integrators hike internal deals in 2014
System integrators affiliated with South Korea's family-run business groups increased internal transactions in 2014 despite the government's efforts to curb excessive groupwide trades, data showed Monday. Internal transactions of the top 20 system integration subsidiaries of the family-run conglomerates, locally called chaebol, came to 8.36 trillion won ($7.74 billion) in 2014, up 5.9 percent from a year ago, according to the data compiled by corporate tracker Chaebul.com. A system integrato
April 27, 2015
-
Builders to face heavy penalties for pipeline cartel
The nation’s major construction companies are expected to be slapped with significant antitrust fines for operating a cartel during a plumbing project initiated by the Korea Gas Corp.According to the Fair Trade Commission and the Ministry of Land, Infrastructure and Transport, some of the 23 participants have been suspected of fixing prices during construction of gas pipelines that were requested by the state-controlled KOGAS.The allegation involves the builders’ irregular practices when they re
April 26, 2015
-
S. Korea's int'l air passenger traffic reaches record high in Q1
South Korea's international air passenger traffic surged to a new high in the first quarter of this year, partly on a jump in the number of foreign visitors, the government said Sunday. In the January-March period, the number of air passengers to and from South Korea came to some 15.55 million, up 17.3 percent from the same period last year, according to the Ministry of Land, Infrastructure and Transport. The country's overall air passenger traffic spiked 16.6 percent to about 21.69 million as
April 26, 2015
-
Samsung to foster Brazilian startups
Samsung Electronics Co., South Korea's No. 1 tech giant, said Saturday it plans to inject US$5 million into Brazil over the next five years to foster startups there, adding it will also share its business know-how.Under the agreement with the Brazilian Association of Science Parks and Business Incubators, an organization that supports startups, Samsung will share the "creative economy business models" with Brazilian firms and provide necessary support so that they can generate stable profits.The
April 25, 2015
-
Hanwha Galleria enters duty-free bidding
Hanwha Galleria, a retail unit of Hanwha Group, is seeking to set up an urban duty-free store in the landmark Hanwha 63 City building in Yeouido, southern Seoul, if it wins a business license in June. It is the latest move among companies vying for the three urban duty-free slots newly allocated in Seoul. “Hanwha finalized its decision to house the shop at the site after considering the surrounding environment and economic development of the surrounding district, such as convenience for foreign
April 24, 2015
-
‘POSCO to retain Saudi project’
POSCO has reportedly retained its joint project with Saudi Arabia to develop social overhead capital and an automobile factory, as Middle Eastern authorities reaffirmed the collaboration despite a graft scandal surrounding Korea’s largest steelmaker. According to steel industry insiders, Saudi Arabian Finance Minister Ibrahim Abdulaziz Al-Assaf met with POSCO chairman Kwon Oh-joon on Wednesday and said the collaboration will be carried out as planned. Assaf visited Seoul as part of Saudi Arabian
April 24, 2015
-
Property deals decrease in Q1
Property transactions in Korea shrank in the first quarter of this year compared to a year ago, due mainly to tightened supply, according to Cushman and Wakefield, a global private commercial real estate service provider, in a report released Friday.For the first three months, only three prime office buildings (worth more than 10 billion won each), one hotel and one retail property in the prime asset category, whose asset value exceeds 10 billion won, were transacted. The total transaction volum
April 24, 2015
-
Coupang raises stake in legal battle against WeMakePrice
South Korea’s largest social commerce giant Coupang is intensifying its legal battle with WeMakePrice, demanding 10.3 billion won ($9.54 million) in compensation from the rival firm for its negative advertising, industry sources said Friday.The amount is about 100 times higher than the 100 million won the e-commerce firm demanded in the case’s initial filing in 2014.“Coupang took this legal action in hopes of preventing unfair competition in the future and sending a warning to those who choose t
April 24, 2015
-
[Newsmaker] Dongkuk Steel Mill hit by chairman scandal
Dongkuk Steel Mill chairman Chang Sae-joo’s alleged wrongdoings are poised to deal a fatal blow to the company, raising questions about the transparency of the country’s steel industry. Dongkuk is the second steelmaker to be mired in allegations of irregular practices after POSCO this year. It is the nation’s third-largest steelmaker after POSCO and Hyundai Steel. Chang is suspected of embezzling about 20 billion won ($18.4 million) from the company, and of habitually gambling illegally. The pro
April 23, 2015
-
‘Korean Air attendants trained to suit Cho’s taste’
A Korean Air attendant involved in the so-called “nut rage” incident has claimed that her cabin crew members have attended training sessions to learn how to serve Heather Cho, a former company vice president, on flights, a complaint filed with a court in the United States showed Thursday. These training sessions were specifically designed to inform crew members of “Cho’s personal preferences” including things like the volume of the welcome music when she boards the plane and the optimal temperat
April 23, 2015
-
[Photo News] Starbucks' social contribution
April 23, 2015
-
LF launches Raum Voyage travel brand
LF Corp. on Wednesday launched its travel-themed compilation brand store Raum Voyage and opened a flagship store on Rodeo Drive in Apgujeong-dong, southern Seoul.The Raum Voyage flagship store boasts an interior reminiscent of airport and train station terminals and seeks to provide a range of exotic products that bring joy in traveling to customers. Raum Voyage said that they target people in their 20s and 30s, and displayed brand products hailing from countries such as France, Italy, Denmark,
April 23, 2015
-
KOGAS ranks top in security inspection
The state-run Korea Gas Corp. made remarkable achievements last year in its sales and preparedness for possible cyberterrorism, company officials said Thursday.In its report on the key achievements in 2014, the corporation said it posted a record net profit of 447 billion won.It also grabbed the first place in a security inspection by the government for its better preparation for possible cyberattacks. The company stated that it successfully hosted “Gastech 2014,” the largest international gas e
April 23, 2015
-
Lawmakers, experts propose Intellectual Property Day
As the international community prepares to celebrate the 2015 World Intellectual Property Day on Sunday, South Korean lawmakers, intellectuals and high-level officials on Thursday vowed to step up efforts to strengthen IP protection by declaring the nation’s own inaugural Intellectual Property Day.The World Intellectual Property Association of Korean Practitioners, launched by the Science Ministry in 2013, held a ceremony at the National Assembly to establish this new day, which aims to promote
April 23, 2015
-
S. Korea to lower hurdles for start-up bourse
South Korea's financial regulator said Thursday it will ease regulations on the country's third stock exchange next month, in a move to help bring in more retail investors and start-ups to the burgeoning bourse.In June 2013, the country launched the Korea New Exchange, a stock trading platform where start-ups and smaller firms can raise funds easily via stock sales instead of having to borrow from banks. Currently, 80 firms are traded on the KONEX, a sharp increase from 21 companies at its debut
April 23, 2015
-
[Newsmaker] Gaffes, abuse shame Doosan Heavy chairman
“It is not good manners to not strike one’s neck when one has asked for it. I will strike in the most bloody and painful way possible.”The graphic comments are not threats by IS terrorists on YouTube videos. Instead, they are from Doosan Heavy Industries and Construction chairman Park Yong-sung, a business tycoon, in an email he sent to professors at Chung-Ang University in Seoul where he was serving as the board chairman. Park on Tuesday stepped down from all three posts after sparking controve
April 22, 2015
-
Saudi Aramco board visits Hyundai Heavy, S-Oil
Board members of Saudi Aramco, the world’s largest crude oil exporter, visited Hyundai Heavy Industries’ headquarters and S-Oil’s refinery construction site, in Ulsan on Tuesday, according to reports.The delegation, including Saudi Arabia’s Oil Minister Ali Al-Naimi, Aramco CEO Khalid Al-Falih and nine other members of the board, arrived in Korea on Monday.During their trip to the world’s largest shipbuilder, they examined its offshore plant construction facilities, an engine factory and an area
April 22, 2015
-
AIMS International appoints new Korea chief
AIMS International, a global search firm, has appointed David Lee as the new managing director of its Korean unit, the company said Wednesday.David Lee is a former senior consultant at Solution, and has had experience in sales in other companies such as Baskin Robbins, Christian Dior Cosmetic and LMVH P&C. David Lee. (AIMS International Korea)AIMS International is one of the top 10 search firms, with more than 350 consultants in over 90 offices across 50 countries. AIMS consultants across the wo
April 22, 2015
-
Hanwha makes progress in solar biz
Hanwha Q Cells, a solar panel unit of Hanwha Group, has signed a 1 trillion won ($923.7 million) deal with Florida-based light company NextEra Energy to supply 1.5 gigawatts of solar panels, a record for a single contract in the domestic industry.The company will supply solar modules to NexEra’s solar plants under construction from the fourth quarter through the same period next year, the company said in a statement Monday. NextEra currently aims to build solar power plants with a capacity of 1.
April 21, 2015