Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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SK hynix Q4 net up 6% in Q4, posts record profit in 2018
SK hynix Inc. said Thursday its fourth-quarter net rose 6 percent from a year earlier, which fell below the market expectation in the wake of slowing demand for memory chips and falling global sales prices. The net profit for the world's No. 2 memory chip producer came to 3.4 trillion won ($3 billion) in the October-December period, compared with 3.2 trillion won posted a year, the company said in a regulatory filing. (SK hynix)Its sales gained 10 percent on-year to 9.9 trillion won, while opera
Jan. 24, 2019
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LG Uplus sole winner in number portability this year
LG Uplus Corp., the smallest of South Korea's three mobile carriers, has emerged as the sole winner in number portability this year on aggressive marketing, industry data showed Thursday.LG Uplus posted a net increase of more than 3,600 new subscribers, who transferred from other carriers, during the first 18 business days of the year, according to the data by the Korea Telecommunications Operators Association. (Yonhap)In contrast, industry leader SK Telecom Co. recorded a net decline of nearly
Jan. 24, 2019
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[News Focus] Debate over securities transactions tax grows
Amid South Korea’s efforts to revitalize the economy, debate over whether to lift the securities transaction tax has been rekindled, with the government, lawmakers, and the financial sector divided over the consequences.The issue regained attention after ruling Democratic Party Chairman Lee Hae-chan said, “It is time we take it up as an agenda item,” in response to a request to either lift or cut the tax in a rare meeting with financial firm representatives on Jan. 15. “There are various factors
Jan. 23, 2019
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Samsung Display develops world’s first UHD OLED panels for laptops
Samsung Display said Wednesday that it has developed the world’s first ultrahigh definition organic light-emitting diode display, as the company makes its foray into the premium laptop market.According to Samsung Display, the 15.6-inch UHD OLED panel will enter mass production next month. The new ultrahigh resolution display will be optimized for gaming, graphic design and video streaming, the company said. The news comes as the display giant is trying to expand into laptop markets after emergin
Jan. 23, 2019
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Dumplings, pizza most popular ready-made foods in Korea: data
Around 60 percent of South Korean households purchased ready-made food over the past year, with dumplings and pizza being the most popular, data showed Wednesday.According to the findings by the Ministry of Agriculture, Food and Rural Affairs, the two dishes were the most popular ready-made food products, followed by instant noodles and gimbap, a rice roll in sheets of dried seaweed. (Yonhap)The survey was conducted on 2,021 households from July to August last year. It also made a deeper study
Jan. 23, 2019
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Refiners' exports hit record high in 2018
Exports of oil and related goods by South Korean refiners reached an all-time high last year on strong demand and higher oil prices, industry data showed Wednesday.The four oil refiners in South Korea -- SK Energy, GS Caltex, S-Oil and Hyundai Oilbank -- shipped 494 million barrels of petroleum products, up 4.6 percent from a year earlier, according to data compiled by the Korea Petroleum Association. (Yonhap)In terms of value, exports of oil and related goods reached $39.96 billion, surging 33
Jan. 23, 2019
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GS Caltex, LG team up for EV charging stations
Seeking the efficient utilization of existing infrastructure for new technologies, GS Caltex and LG Electronics have agreed to work together to provide various next-generation charging services at gas stations, the companies said Tuesday.The two sealed a memorandum of agreement to build energy and mobility convergence charging stations, which will have all the previous services offered by GS Caltex-run gas stations. New services will encompass electric vehicle charging, rental and maintenance. L
Jan. 22, 2019
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Spam hits sales record in Korea
Spam, a well-known brand of canned cooked meat and a popular South Korean holiday gift, has attained 4 trillion won ($3.54 billion) in cumulative sales since its launch 32 years ago.CJ CheilJedang said Wednesday that it had sold around 1.2 billion 200-gram cans of Spam in the product’s history -- the equivalent of 24 cans for each person in Korea. Spam has become an indispensable item in Korean households. (Yonhap)Spam was introduced to Korea by the US army during the Korean War, and domestic pr
Jan. 22, 2019
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Court suspends FSC's penalties on Samsung BioLogics
A Seoul court approved Tuesday a request by Samsung BioLogics Co. to put on hold the execution of penalties by the financial watchdog for the company's suspected accounting irregularities. The Seoul Administrative Court accepted Samsung's argument that enforcing the penalties before a formal court ruling can cause unrecoverable damage to the firm. The penalties will be suspended until the court reaches a verdict in the litigation between the tech giant and the state. (Yonhap)Samsung BioLogics l
Jan. 22, 2019
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Fine dust pollution reshapes local home appliance market
Amid deteriorating air quality in South Korea, air purifiers and clothes dryers have become more popular in the nation’s home appliance market, market data showed Tuesday. According to local discount store chain E-mart, sales of air purifiers from Jan. 1 to 20 jumped 180 percent compared to the same period last year. Sales of air purifiers ranked eighth this month in the home appliance category.In light of concerns over air quality, home appliances that reduce exposure to dust, such as air purif
Jan. 22, 2019
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Kogas poised to take lead in global LNG market
Korea Gas Corp. is seeking to take the lead in the global liquefied natural gas market on the strength of its solid leadership in the South Korean market and continued investment at home and abroad.The state-run company currently provides natural gas to more than 90 percent of the nation with its 72 natural gas storage facilities and pipes measuring a combined 4,848 kilometers in length. Kogas’ offshore project in Myanmar (Kogas)Kogas is now expanding its business in the global market and is pa
Jan. 22, 2019
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SK hynix donates W3b for vulnerable classes in Gyeonggi, North Chungcheong
SK hynix, the world’s second-largest memory chip provider, said Monday the company donated 3 billion won ($2.66 million) for welfare institutions in Gyeonggi and North Chungcheong provinces to support the vulnerable.The chipmaker’s employees and executives raised 1.5 billion won and the company offered another 1.5 billion won for a matching grant fund, dubbed “Happy Nanum Fund,” which is part of its corporate outreach. SK hynix has so far donated 19.5 billion won, benefiting around 32,000 elderl
Jan. 21, 2019
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Coca-Cola features BTS for New Year’s special packaging
Coca-Cola said Monday it will be releasing a New Year’s special package featuring BTS song titles.Each package option will have images of BTS as well as adaptations of song titles, such as “Your spring is today,” “You‘re my idol” and “This year is on fire.” (Coca-Cola)The company stated that the packaging intends to convey “hopeful messages to hard-working consumers that they are great the way they are.” The messages were influenced by BTS song titles as the band has been continually spreading p
Jan. 21, 2019
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Kyung Hee University pharma research center to hold symposium on novel drug development
Kyung Hee University’s Global Center for Pharmaceutical Ingredient Materials is hosting a symposium on Wednesday for working-level novel drug developers and students pursuing careers in the field. Firms involved with the Gyeonggi-do Regional Research Center, a regional project that supports advancement of science and technology, have also been invited, the organizers said.In July 2017, GPIM was selected as a GRRC business for a six-year research project to foster collaboration between business,
Jan. 21, 2019
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JTI Korea taps former Mexico unit chief as CEO
JTI Korea, the Korean unit of the global tobacco maker, said Monday that it has tapped Jose Luis Amador as the new CEO of the Korean unit. JTI Korea said Amador was chosen to lead the Korean company based on his combined experience in marketing and sales at global offices in Spain, Hong Kong and the head office in Switzerland.The Spanish CEO spent the last seven years in Mexico, where he led the Mexican unit and launch of global cigarette brand Winston in the country. Jose Luis Amador (JTI Kore
Jan. 21, 2019
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Apple exploits mobile carriers: FTC
Apple is exploiting local telecom companies for profit by unfairly collecting advertising funds, economists representing South Korea’s antitrust watchdog said last week during a second hearing on the matter.Yonhap“Apple’s (superior) position in business dealing with local telecom firms is recognized based on economic analysis. (Apple) collecting advertising funds are merely additional ways of exploiting telecom carriers’ communications service profits,” FTC investigators were quoted as having te
Jan. 21, 2019
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Govt. to announce blueprint on nuke plant decommissioning in March
South Korea's industry ministry said Monday it will announce the blueprint on fostering the country's nuclear plant decommissioning industry in March in line with its new energy policy. While the government seeks to turn South Korea into a nuclear energy-free nation, there have been demands that the government should seek new opportunities to keep the country's energy industry running."We plan to prepare a plan to establish a nuclear-plant decommissioning research institute in the southeastern r
Jan. 21, 2019
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[News Focus] NPS braces for first test of stewardship code
The National Pension Service is increasingly under pressure to apply stricter yardsticks on their investments and management at invested firms, with growing risks from owners resulting in revenue and stock price drops. Political debates are also coincidentally brewing over whether the emphasized exercise of voting rights on governance issues would lead to more responsible investment of the state pension operator or to excessive state or social influence in the business realm. In July last year,
Jan. 21, 2019
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SK Broadband to double network size for Netflix users
South Korea's fixed-line operator SK Broadband Inc. said Monday that it is pushing to increase its network capacity to deal with the growing number of people using services offered by US video streaming platform Netflix.The company is planning to increase its data transfer speed for high-speed networks to 100 gigabits per second from 50 Gbps by doubling its overseas network in the wake of consumers' complaints over streaming quality. (SK Broadband)To watch Netflix in HD quality, a user must have
Jan. 21, 2019
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Air Busan to set up system to prevent working under influence
Air Busan Co., a South Korean low-cost carrier, said Monday it will enhance its operating system to prevent employees from working under the influence of alcohol this year. Pilots, flight attendants, aircraft maintenance managers and mechanics will be checked for alcohol levels before they report to work, the company said in a statement. (Yonhap)"If an employee's alcohol measurement exceeds the standard value, it is immediately reported to their managers via a short message service. The employee
Jan. 21, 2019