Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Korean Air executive Cho inconveniences passengers
Heather Cho, Korean Air’s executive vice president, has come under fire for allegedly exceeding her authority by ordering a flight manager of the airline to get off a plane for poor services.The plane, carrying some 250 passengers on board, was delayed for 12 minutes due to the incident. It was on the landing strip of JFK Airport in New York on Friday, bound for Incheon Airport in South Korea.Cho was flying first class and yelled at a flight attendant who handed out a bag of nut snacks without a
Dec. 8, 2014
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Customs office steps up crackdown on tobacco smuggling
South Korea’s customs office said Monday that it will beef up monitoring and crackdown on tobacco smuggling amid growing demand for cheaper cigarettes ahead of a sharp price hike slated to be effective starting next year.The moves come as the government is to raise tobacco prices by 2,000 won ($1.78) per pack starting on Jan. 1, the first increase since December 2004. It represents an almost 80 percent increase in the average per-pack price in Korea.According to the Korea Customs Service, the ag
Dec. 8, 2014
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Korea’s annual SUV sales break record
Annual sales of sport utility vehicles in South Korea topped the 300,000 mark to reach an all-time high, data showed Monday, illustrating the rapid growth of the recreational vehicle market in the country. Through November this year, domestic sales of SUVs by five local carmakers stood at 300,475 units, according to industry data.The figure exceeds the previous record of 297,594 units registered in 2002. Accordingly, the market share of SUVs at home has also expanded over the cited period, takin
Dec. 8, 2014
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BCCK holds fund-raiser for underprivileged
Some 300 guests from the British business community in Korea gathered on Friday for a Christmas fund-raising event hosted by the British Chamber of Commerce in Korea to support charities here. “An important function of the BCCK is contributing to Korean society by fund-raising for worthy charities,” BCCK chairman Michael Reed said during the event held at Grand Hyatt Seoul Hotel.Michael Reed, chairman of the British Chamber of Commerce in Korea, delivers an opening speech during a Christmas lunc
Dec. 8, 2014
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Gov't to review Korean Air heiress' discipline of flight crew
The government will review the legitimacy of disciplinary action by the daughter of the Korean Air chairman who forced a flight crew to deplane, delaying other passengers from departing, an official said Monday.Cho Hyun-ah, vice president of the national carrier and the eldest daughter of Korean Air chairman Cho Yang-ho, ordered a senior flight attendant of a plane heading to Incheon from New York on Friday to deplane for failing to follow in-flight service procedures, according to the company.
Dec. 8, 2014
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S. Korea behind China in 6 key industries: report
South Korea has been overtaken by or is trailing China in six key industries, making it imperative for local companies to find new ways to stay competitive globally, a report by the lobbying group of large conglomerates showed Monday.The report by the Federation of Korean Industries (FKI) showed China outpacing South Korea in the smartphones, cars, shipbuilding and marine plants, petrochemicals, and the steel and refinery sectors.South Korean companies still maintain an edge in semiconductors an
Dec. 8, 2014
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Korea’s exports to China face minus growth
Korea’s outbound shipments to China are likely to post a negative growth in 2014 for the first time in five years, according to government data released on Sunday. Industry watchers said this downward trend may continue with the Chinese economic slowdown deepening and even worse, the country is slowly reducing its reliance on Korea’s intermediate goods. Shipments to China slipped 0.5 percent on-year through November this year, according to the data compiled by the Ministry of Trade, Industry and
Dec. 7, 2014
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Daewoong Pharm signs investment deal with Osong BioValley
Daewoong Pharmaceutical signed a 210 billion won ($188.3 million) worth investment deal with North Chungcheong Province to build a factory. The new facility will be designed to comply with current good manufacturing practices, better known as cGMPs, U.S. standards for design, monitoring, and control of pharmaceutical manufacturing. Under the deal, signed during the 4th Herald Creative Economy Forum on Friday in Seoul, the Korean drugmaker said the company would construct the facility by 2016 wit
Dec. 7, 2014
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BAT Korea wins award for contribution to exports
The Korean branch of British American tobacco said that it earned an award for achieving $70 million in exports at the 51st Trade Day ceremony, organized by the Trade Ministry and the Korea International Trade Association on Friday.An agreement recently signed by BAT Korea and the labor union at its factory in Sacheon, South Gyeongsang Province, on bilateral cooperation and maintenance of labor-management harmony, led to the doubling of the exports this year over the previous year, the company s
Dec. 7, 2014
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Auto sales in Korea to rise 2.5% in 2015
The sales of automobiles in South Korea are expected to rise 2.3 percent next year, aided by steady rise in demand for imported cars, data showed on Sunday.Sales of autos in the country are estimated at 1.65 million units next year, compared with this year’s projected 1.61 million units, according to the Korea Automobile Manufacturers Association.The data showed sales of locally-produced autos would remain little changed at 1.4 million units next year compared to this year, while some 250,000 im
Dec. 7, 2014
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Korean stocks lag behind Asian peers: data
South Korean stock market has been in a relatively sharper slump compared with other regional rivals as local companies, undercut by a weak Japanese yen and a slowdown in economic growth, suffered a steep drop in their earnings, industry data showed on Sunday.South Korea’s key stock index, the KOSPI, declined 1.23 percent this year through Friday, ranking 12th among 14 regional stock indices, according to the data compiled by the Korea Exchange. The Shanghai Composite Index posted the biggest ga
Dec. 7, 2014
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Seoul shares likely to make small advances ahead of BOK meeting
South Korean stocks are likely to trade slightly higher this week as foreigners are expected to be in the net buying position amid the strengthening of U.S. dollar against the Korean won, though the gains will be limited due to a lack of upward momentum, analysts said Saturday. In the previous week, the Seoul bourse started the week on a negative note on the sluggish U.S. Black Friday sales and plunge in the global oil prices, but it rebounded in the mid-week on the upbeat U.S. Federal Reserve d
Dec. 7, 2014
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Korean TV channels break partnership with YouTube
Two South Korean terrestrial broadcasting companies have broken a partnership with YouTube and joined with local Web portals to offer video content, as they seek greater control over their online content in an effort to secure new profit sources, industry sources said Sunday.Seoul Broadcasting System and Munhwa Broadcasting Corp. stopped providing free streaming of their regular shows and drama series on the world’s No. 1 video-sharing site, starting Dec. 1. CJ E&M Corp., the top media conglomer
Dec. 7, 2014
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KEPCO units mull participation in Rajin-Khasan project
The five units of South Korea’s utility giant Korea Electric Power Corp. said Sunday that they are considering participation in the nascent Rajin-Khasan project logistics project in a bid to reduce the costs of importing coal from Russia through North Korea.The Rajin-Khasan project, which is on a test run, is regarded as a starting point for economic cooperation among the two Koreas and Russia. Under the project, South Korea imports Russian coal through the North’s port of Rajin to the South’s P
Dec. 7, 2014
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KEPCO units mull participation in Rajin-Khasan project
The five units of South Korea's utility giant Korea Electric Power Corp. (KEPCO) said Sunday that they are considering participation in the nascent Rajin-Khasan project logistics project in a bid to reduce the costs of importing coal from Russia through North Korea.The Rajin-Khasan project, which is on a test run, is regarded as a starting point for economic cooperation among the two Koreas and Russia. Under the project, South Korea imports Russian coal through the North's port of Rajin to the S
Dec. 7, 2014
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Hyundai, Kia top U.S. midsize car market in November
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. took the lead in the U.S. midsize auto market in November on the back of their improved product quality and revamped line-ups, industry data showed Sunday.According to the data, South Korea's two largest automakers sold a combined 31,222 midsize sedans in the U.S. last month, relegating Toyota Motor Corp. to the second spot for the first time since October last year. The November figure also marks a 13.9-percent rise from the previous
Dec. 7, 2014
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Hyundai launches refreshed 2015 Grandeur hybrid with safety
Hyundai Motor Co., South Korea's No.1 automaker, said Sunday that its launched a refreshed Grandeur hybrid sedan with improved safety and convenience features while retaining its fuel economy.The full-size, front-wheel drive sedan, rated to achieve 16 kilometers on a liter of fuel in combined driving conditions, also receives a new radiator grille, changes in the front and rear bumpers, black-bezel HID headlights and quad-LED fog lamp assembly that give the vehicle a more upscale feel.The compan
Dec. 7, 2014
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GS Caltex CEO wins ministry award
GS Caltex CEO Huh Jin-sooGS Caltex CEO Huh Jin-soo has received the highest industry honor granted by the Trade Ministry, for his contributions to Korea’s energy sector, according to the company Friday.During the ceremony commemorating the 51st Annual Trade Day, Huh was awarded the Gold Tower Order of Industrial Service Merit in recognition of his efforts to provide a stable energy supply across the country and expand energy-related exports. As the country’s No. 2 oil refiner, GS Caltex posted e
Dec. 5, 2014
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Asiana to appeal crash penalty decision again
Asiana Airlines on Friday said it would once again appeal a decision by the nation’s Transport Ministry to suspend its services to San Francisco for 45 days as a penalty for a passenger jet accident in the U.S. city last year.The ministry had not announced the results as of press time, but Asiana officials said they had heard of the move. The penalty was confirmed following a second round of deliberations held on the request of Korea’s second-largest airliner after the 45-day suspension was firs
Dec. 5, 2014
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Hyundai, Kia see home market share sink below 70 pct
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp., the top two carmakers in South Korea's auto market, saw their combined market share at home shrink to below 70 percent through November, data showed Friday, amid the rising popularity of imported cars among buyers here. During the first 11 months of this year, cumulative sales of the two flagship firms of Hyundai Motor Group in the country accounted for 69.4 percent of the entire domestic market, with Hyundai taking up 41.7 percent, a
Dec. 5, 2014