Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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KORAIL to launch Seoul-Pohang KTX
A new high-speed KTX train service connecting Seoul and Pohang in North Gyeongsang Province will launch Thursday, according to the Korea Railroad Corp.The new KTX train will transport passengers between Seoul and Pohang in roughly two hours and 30 minutes, cutting the travel time by train by more than three hours. Previously, it took passengers riding on the Saemaeul train five hours and 20 minutes to travel the same distance.The Seoul-Pohang KTX service, which has been launched as part of the G
March 31, 2015
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Hyundai Motor chief tops in executive pay ranking
Hyundai Motor Group chairman Chung Mong-koo topped in the nation’s 2014 executive pay ranking with a salary of 21.6 billion won ($20 million), according to a financial regulatory filing released on Tuesday.Chung received payment from the group’s four affiliates ― Hyundai Motor, Hyundai Steel, Hyundai Mobis and Hyundai Engineering & Construction ― where he served as a registered director in fiscal 2014. Chung Mong-kooShin Jong-kyun, CEO of
March 31, 2015
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Korean Air's brand value plunges after 'nut rage' incident
South Korea's No. 1 air carrier Korean Air Lines Co. saw its local brand value nosedive this year following last year's "nut rage" case that outraged the nation's public, a survey showed Tuesday.Brandstock, a South Korean market researcher that determines rankings of the top 100 local brands, said in its latest survey that Korean Air earned 860 points to stand at 45th place for the first quarter of this year, down from the No. 6 spot for all of 2014. "Even while taking into consideration the kin
March 31, 2015
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Samsung Electronics implements more flexible working hours
Global tech giant Samsung Electronics has begun granting its employees more flexibility in scheduling their work hours with an aim to promote a more creative and efficient office culture.(Yonhap)Starting from late March, all employees at Samsung Electronics, excluding factory workers at the production sites, are able to freely adjust their working hours. The only requirement is that they work at least four hours a day, and fill 40 hours each week.The new work policy goes a step further in granti
March 31, 2015
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Samsung, LG agree to end all legal disputes
South Korean tech giants Samsung Electronics Co. and LG Electronics Inc. announced Tuesday they have agreed to halt ongoing legal disputes, ending a years-long court battle over alleged technology theft and vandalism."(Samsung and LG) agreed to end all ongoing disputes to end tension," the two companies said in a joint statement. "We will also refrain from making more legal disputes and make efforts to settle issues through dialogue and consultation."Samsung and LG, as well as their affiliates,
March 31, 2015
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Korea's duty-free shop sales surge on increased tourists in 2014
South Korea's duty-free shop sales surged 21.6 percent on-year in 2014, the finance ministry said Tuesday, thanks to the steady rise in foreign travelers.Data sent by the ministry to the National Assembly showed sales by the 43 duty-free shops in the country hitting 8.3 trillion won ($7.5 billion) last year, up more than 1.5 trillion won from a little over 6.8 trillion won in 2013.It said of the total, sales of shops located in cities jumped 32.2 percent on-year while those in airports and seapo
March 31, 2015
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LG Chem to expand polarizer production in China
LG Chem Ltd., South Korea's leading chemical firm, said Tuesday it will invest $100 million to expand its polarizer production in the Chinese city of Nanjing in order to prepare for the fast growing display market there.A polarizer is a multilayered optical film used for transmitting light in thin film transistor liquid crystal display (TFT-LCD) modules, which are used in mobile gadgets, laptops and televisions. The expansion will increase LG Chem's annual production capacity to 54 million squar
March 31, 2015
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Cumulative U.S. sales of Hyundai, Kia top 15 mln units
South Korea's top automaker, Hyundai Motor Co., and its smaller affiliate, Kia Motors Corp., saw their combined sales in the United States top 15 million units over the past 29 years, data showed Tuesday. As of end-February, Hyundai Motor sold a cumulative 9.49 million units since it entered the U.S. market in 1986, according to industry data. Kia Motors has sold a total of 5.52 million of its cars since 1994. Among the models sold in the U.S., Hyundai Motor's flagship Sonata midsize sedan was t
March 31, 2015
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KKR likely to buy Ticket Monster for 350 bln won: sources
A U.S.-based multinational private equity firm is in talks to acquire a major stake in South Korea's No. 2 e-commerce company Ticket Monster Inc. for 350 billion won ($316.5 million), industry sources said Tuesday.KKR & Co. L.P. is in the final stage of negotiations with the local arm of Deutsche Bank AG, the sale manager of the deal, to take over a 51 percent stake in the daily deal site, according to the sources.KKR is said to have partnered with Hong Kong-based investment firm Anchor Equity P
March 31, 2015
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Ssangyong Motor begins overseas shipments of Tivoli
Ssangyong Motor Co., the smallest carmaker in South Korea, said Tuesday it has begun exporting its Tivoli SUV as the company hopes to repeat its strong domestic performance in overseas markets and expand its presence abroad.More than 2,000 units of the Tivoli are to be shipped to Europe and Latin American countries, with sales to begin in June, the carmaker said in a press release."We hope for a successful launching of the Tivoli overseas, and we will do our best to become a global SUV maker by
March 31, 2015
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LG beats Samsung in mid-sized panel market in Q4
South Korea's LG Display Co. saw its global market share of 9-inch and below display panels hover above that of its long-term rival Samsung Display Co. for the first time in the October-December period of 2014, data showed Tuesday, emerging as the world's No. 1 player.LG Display took up 18.7 percent of global small and mid-sized panel shipments in the fourth quarter of 2014, standing neck-and-neck with Japan Display Inc., which also held a 18.7 percent stake, the data compiled by market tracker
March 31, 2015
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S. Korean industrial output rebounds in Feb.
South Korea's industrial output bounced back in February from the previous month on increased demand for automobiles and semiconductors, according to government data Tuesday, in a positive sign for the economy gripped by uncertainties at home and abroad.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries moved up 2.6 percent last month from a month earlier. Compared with a year earlier, however, the figure was down 4.7 percent.The
March 31, 2015
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Hyundai Motor's Tucson SUV sales top 10,000 units
Hyundai Motor Co., South Korea's top automaker, said Tuesday that it has sold more than 10,000 units of the all-new Tucson SUV in less than three weeks since its launch.Since March 4 when it started to sell the Tucson, its cumulative unit sales came to 10,300 as of Friday last week, according to the automaker.It is the third generation of the Tucson SUV, one of Hyundai Motor's most popular models, and came out six years after the previous generation hit the market. Hyundai Motor aims to sell 42,
March 31, 2015
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[Graphic News] Incheon International Airport sustains growth for 14 years
Incheon International Airport has continued striking growth since it opened 14 years ago, data showed Monday. The airport, which launched service on March 29, 2001, has grown 6.7 percent on average in terms of the number of passengers; 3.4 percent in cargo; and 7.2 percent in flights every year, according to data released by the airport authority.The number of transfer passengers also increased from 2.46 million in 2001 to 7.71 million in 2013.The airport, which had 47 operating airlines in 2001
March 30, 2015
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Carlyle to acquire It’s Skin cosmetics for W2 trillion
Carlyle Group, the world’s second-largest private equity fund, has reportedly set its eyes on It’s Skin, a budget Korean cosmetic brand under Hanbul Cosmetics.According to market insiders and media reports, Carlyle has offered around 2 trillion won ($1.97 billion) for the deal, which is about 10 times It’s Skin’s earnings before interest, taxes, depreciation and amortization. The EBITDA is used to measure a company’s profitability and ability to create cash flow. “Carlyle has been interested in
March 30, 2015
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Card firms vie for Costco partnership in Korea
Local card companies are fiercely competing to become the sole contractor for Costco stores in South Korea.The U.S. retail giant, which has had an exclusive partnership with Samsung Card for 15 years, is considering terminating its exclusive contract in May, according to news reports.Spotting an opportunity, some other card companies were quick to establish a task force in a bid to get a share of the U.S. retailer’s 2.86 trillion won ($2.59 billion) revenue in Korea. Hyundai Card, the country’s
March 30, 2015
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KAI expects record year with fighter project
South Korea’s sole aircraft manufacturer Korea Aerospace Industries said 2015 was likely to be its most profitable year after it edged closer to winning an 8.6 trillion won ($7.8 billion) home-grown fighter jet project.The Defense Acquisition Program Administration, the country’s arms procurement agency, said on Monday that KAI was selected as the preferred bidder for the Korean Fighter Experimental aircraft project to develop mid-level jets to replace the military’s aging F-4s and F-5s.“KAI wil
March 30, 2015
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(Photo News) Kia launches new Carnival minivan
March 30, 2015
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Yuhan-Kimberly hosts tree planting for newlyweds
Yuhan-Kimberly, a sanitation and baby product company, hosted its annual newlywed couples tree-planting event in Yangpyeong, Gyeonggi Province, over the weekend.Around 800 people, including newlywed couples, its employees, social leaders and Korea Forest Service officials planted 9,000 pine tree saplings, according to the company. Yuhan-Kimberly hosts a tree-planting event every spring for newlyweds in order to celebrate their new beginning and to leave a greener environment for the future gener
March 30, 2015
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S. Korea says more than 100 bln won to be injected to nurture gaming startups
The presidential office said Monday that more than 100 billion won ($90 million) will be injected to nurture startups in gaming and other industries.The financial assistance, which is mainly provided by a state-managed credit guarantee fund, will be offered to small companies and startups in such fields as games, financial technology, known here as fintech, and the Internet-of-Things, according to the office.The office made the announcement as President Park Geun-hye opened the latest innovation
March 30, 2015