Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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BAT Korea to launch Rothmans
Rothmans(BAT Korea)British American Tobacco Korea on Thursday said Rothmans, a tobacco brand that celebrates its 125th anniversary this year, will go on sale in Korea from Monday. Rothmans comes in two varieties, Rothmans 5mg and Rothmans 1mg. Rothmans has a new type of recessed filter called “air plus.” Launched in a small kiosk of London in 1890, the brand was granted a royal warrant by King Edward VII in 1905, to be supplied to the British Royal Family. Rothmans was the world’s first tobacc
Oct. 1, 2015
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Shopping support business booms with rising overseas purchase
Lee Soo-yeon, a 38-year-old mother of two children in South Korea, frequently shops on various online websites of U.S.-based brands like Gap and Carter’s as well as e-commerce platform Amazon, eyeing major sales events and special discounts. Around once a month, Lee receives her purchases -- usually foreign-brand baby clothing which are more expensive to buy or entirely unavailable in Korea -- from across the world at her house in Seoul. Exactly what kind of a hassle does Lee have to endure to
Oct. 1, 2015
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Incheon Bridge wins PEA award in mega-sized project segment
Incheon Bridge on Tuesday won an award in the mega-sized construction project category at the Project Excellence Award 2015 held in Panama, the operator of the bridge said Tuesday.Incheon Bridge was named the Premium Gold Winner, beating out GE’s oil and gas project in Italy, Alstom’s power project in Switzerland and Sberbank’s internal control system in Russia and Eastern Europe. This marks the first time for the annual awards to grant the “premium gold” medal, which is regarded to be higher th
Oct. 1, 2015
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Ssangyong Motor's Sept. sales soar 11.1%
Ssangyong Motor Co., the local unit of Indian auto conglomerate Mahindra & Mahindra Ltd., said Thursday that its sales shot up 11.1 percent on-year in September as soaring sales at home helped offset plunging exports. Ssangyong sold 11,489 units last month, the automaker said in a press release. The figures do not include complete knockdown kits that are assembled abroad. Overseas shipments nosedived 35.6 percent to 3,383 units over the cited period. On its home turf, however, its sales surged
Oct. 1, 2015
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Volkswagen's recall in S. Korea may hit 120,000 units: sources
German carmaker Volkswagen is expected to recall about 120,000 vehicles sold in South Korea in connection with a deepening diesel emissions scandal, market sources said Thursday.On Wednesday, Audi Volkswagen Korea, the local unit of the German carmaker, submitted its latest sales figures, detailed information about the so-called defeat device and corrective measures to be taken to the environment ministry here, according to the sources. The corrective measures can include a recall of the vehicle
Oct. 1, 2015
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Hyundai Motor recalls 36,484 sedans in China over brake defect
Hyundai Motor Co. is recalling 36,484 sedans in China to fix a defect in the brake systems.Vehicles affected are the Mistra sedans, produced between July 2013 and July 2014, China's quality watchdog said on its website on Wednesday. Problems related to the brake hoses of the sedans presented a potential danger in the operation of the brake systems, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement. Hyundai is replacing the faulty parts in the cars f
Oct. 1, 2015
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A year into merger, Kakao eyes next big leap out of weak profits
When Kakao Corp. launched its mobile chat application KakaoTalk in South Korea in early 2010, what lured users most was the fact that it was free. Until then, sending and receiving text messages via a phone had been considered something that you had to pay for. The instant messenger, now used by three in every four smartphone owners here, has effectively changed people's perception of text messaging. It's almost taken for granted these days that mobile chatting is out there at no cost.Analysts s
Oct. 1, 2015
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POSCO settles legal dispute with Nippon Steel
POSCO has reached an agreement with Nippon Steel & Sumitomo Metal Corp. to end their prolonged legal dispute, the Korean steelmaker said Wednesday. Under the agreement, the Korean steelmaker will pay its Japanese rival about 300 billion yen ($2.5 billion) in compensation for its alleged corporate espionage activity. “The company has sought the settlement so as not to breach the long-term partnership with NSSMC over the past three years,” a POSCO official said. The two steelmakers have waged lega
Sept. 30, 2015
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Urban duty-free bidding heats up
Business conglomerates have reignited their competition to win a license to run three urban duty-free stores in Seoul and another in Busan. Having witnessed the jaw-dropping success of duty-free stores thanks to the recent Chinese tourists’ influx, business tycoons are vowing to win the license allowing the semi-exclusive operation for the next five years. The application process wrapped up on Sept. 25, and the result is due to be announced in November. “Because of the expensive rent inside airp
Sept. 30, 2015
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Artistry zooms in on Korea’s beauty industry
Local and international cosmetics experts gathered in Seoul on Wednesday to discuss South Korea’s burgeoning beauty industry and culture, dubbed “K-beauty,” at the “K-Beauty Close-up” event hosted by global skin care brand Artistry. “Korean women are highly interested in skin care and hold strict standards in regards to choosing their skin care products,” said Kim Malewitz, Artistry’s global beauty marketing director.Sulli of K-pop girl group f(x) speaks during Artistry’s “K-Beauty Close-up” ev
Sept. 30, 2015
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Hyundai Mobis ranks fourth in global auto parts sales
Hyundai Mobis, the auto parts maker of Hyundai Motor Group, has ranked fourth among top 100 global parts manufacturers in terms of sales, according to data on Wednesday.Hyundai Mobis posted $33.35 billion in sales last year, following Germany’s Bosch, Japan’s Denso and Canada’s Magna International, according to the latest monthly report by FOURIN, Japanese automobile research firm.The auto parts maker climbed one notch from last year. This also marks the first time a Korean auto parts company ha
Sept. 30, 2015
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S. Korean EV battery makers set to bask in Volkswagen scam
Volkswagen's diesel emission scandal is showing no signs of a letup, even whacking other automakers, but there is one bright point: electric vehicle battery makers.South Korean EV battery makers led by LG Chem Ltd. are poised to benefit from the diesel emission fiasco as demand for vehicles powered by non-fossil fuels is expected to rise down the road, according to analysts Wednesday."It is highly likely that the Volkswagen case is prodding authorities to take a look at other diesel vehicles," s
Sept. 30, 2015
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Naver's messenger downloads hit 50 mln
Band, a group-based mobile messenger run by South Korea's top portal operator, Naver Corp., has surpassed the 50 million-hit milestone in its cumulative global downloads on the back of robust demand in Asian markets, the company said Wednesday. Launched in August 2012, the social networking mobile application is designed to offer private chatting services for users to talk in groups, unlike other popular open-ended instant messengers. Its downloads reached the record level as of last Tuesday, Ca
Sept. 30, 2015
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S. Korea's state food agency launches app for halal eateries
SSouth Korea's state-run food agency said Wednesday it has launched a mobile application that provides details of local halal restaurants, in line with its efforts to attract more Muslim tourists.The app, "HALAL Korea," provides various information related to halal foodstuffs in South Korea, including locations of restaurants and supermarkets, the Korea Food Foundation said.Halal food refers to food products that are prepared in a specific way according to Islamic Sharia law, which covers not on
Sept. 30, 2015
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Two S. Korean drivers sue Volkswagen over emissions scam
Two Volkswagen car owners in South Korea sued the German carmaker for deceiving them about emission results in what is the first legal action in the country following the ever-deepening emission cheating scandal, their legal representatives said Wednesday.The two, one of whom owns a 2014 Audi Q5 2.0 TDI and the other a 2009 Volkswagen Tiguan 2.0 TDI, filed a lawsuit against Volkswagen Group, Audi Volkswagen Korea and local dealers with a district court in Seoul, according to Barun, the law firm
Sept. 30, 2015
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Showbox inks deal with Hollywood studios
South Korea's leading movie distributor, Showbox/Media Inc., has signed a five-year deal to produce up to six films with two U.S. film companies, the local company said Wednesday.Showbox, under the partnership deal signed Monday, will produce up to six Korean-language feature films in the thriller and horror genres with Blumhouse Productions, a Hollywood studio, while the films will be fully financed by Ivanhoe Pictures, a Hollywood production and financing company.Showbox will also be in charge
Sept. 30, 2015
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LG receives preorders for Nexus 5X
South Korean tech giant LG Electronics Inc. said Wednesday it has started to receive preorders for the Nexus 5X, the newest flagship smartphone jointly launched with Google Inc., which will come with the latest Marshmallow operating system.The 5.2-inch Nexus 5X is their third edition after the Nexus 4 launched in 2012 and Nexus 5 in 2013.The smartphone will come with the Android 6.0 Marshmallow operating system that boasts improved features, including App Standby, which allows users to save powe
Sept. 30, 2015
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Public firms to do more in infrastructure building
Public companies will play a greater role in building South Korea's social overhead capital as state tax earnings are diverted to other sectors, the government said Wednesday.The government's fiscal management plan for the 2015-2019 period showed state spending in SOC decreasing over the next four years, with public companies such as Korea Airport Corp. and Korea Expressway Corp. expected to pick up the slack.The budget for infrastructure building will fall from 24.8 trillion won ($20.7 billion)
Sept. 30, 2015
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Korea’s expansive FTA network creates new investment opportunities
An Italian company that supplies cosmetics to global beauty brands such as L’Oreal and Estee Lauder has recently decided to build a $1.3 million innovation center in South Korea, and plans to expand such investments to make inroads into the Chinese market. A Chinese distribution giant has also decided to invest $40 million in a local animation production company to expand its business and reenter the Chinese market. Lee Kwan-sup, South Korea`s first vice minister of trade, industry and energy
Sept. 29, 2015
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Budget airlines watch Jeju Air IPO
South Korea’s low-cost carriers are seeking new growth avenues ― going public ― led by industry leader Jeju Air on the back of its growing market share in the domestic and international routes that threaten full-service carriers. Last week, the country’s No. 1 budget carrier Jeju Air said it expects to raise around 154 billion won ($128.4 million) by issuing 5.5 million shares at a price range of 23,000-28,000 won per share.The carrier owned by Aekyung Industrial is expected to list in November
Sept. 29, 2015