Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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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 to more than double military drones by 2026 to counter NK threats
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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 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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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Questions raised over fair promotion of RM, NewJeans
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Lee Kun-hee shows no signs of recovery, but condition stable: sources
The bedridden head of Samsung Electronics Co., Lee Kun-hee, has shown no signs of recovery, but his condition has not deteriorated either since 2014, when he was hospitalized for a heart attack, industry sources said Sunday.Lee turns 76 on Tuesday."I haven't heard about Chairman Lee's condition for a while," a source said. "No news means his health remains the same."After suffering a heart attack on May 10, 2014, he was rushed to Samsung Medical Center in southern Seoul, owned by his business gr
Jan. 7, 2018
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Korea’s steel exports to US post double-digit growth
Amid intensifying trade protectionist measures against South Korea’s steel products by the US, Korea’s steel industry saw double digit growth in exports to the US last year, industry data showed Sunday. The total volume of steel shipments to the US dropped 4.9 percent on-year between January and November last year. But in value, the amount of exports rose 17.7 percent largely due to an increase in demand and price of oil country tubular goods, according to figures by Korea International Trade As
Jan. 7, 2018
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At CES, Samsung, LG vie for top spot in premium TVs
The world’s two largest television makers, Samsung and LG, will vie to steal the limelight with their larger and smarter televisions in the upcoming Consumer Electronics Show that kicks off on Tuesday in Las Vegas, Nevada. Samsung is expected to showcase their quantum-dot light-emitting diodes televisions with a larger than 100-inch panel, much bigger than the currently largest 88-inch QLED TVs, according to insiders. The tech firm is also expected to introduce its new, large Micro-LED TV for th
Jan. 5, 2018
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[Newsmaker] Young mobile shoppers spending more on small pleasures: data
Young mobile shoppers in their 20s and 30s are increasingly choosing to open their wallets for products and services that offer small, instant pleasures rather than self-improvement products, data showed this week.According to social commerce firm Tmon, sales over the past two months shifted from self-improvement products such as health supplements and exercise equipment associated with New Year‘s resolutions to items that offer entertainment.In particular, board games and remote-controlled elec
Jan. 5, 2018
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[Weekender] Paper planners maintain appeal in new year despite tech-savvy consumers
On the second day of the new year, shoppers bustled about one section of Kyobo Books’ Gwanghwamun branch. They were all shopping for planners, more familiarly called “diaries,” to help them set their plans for the year.“I usually don’t like writing things down with pen and paper, but there’s something about New Year’s resolutions that makes you want to write them down physically,” said Kim Yoon-jeong, a 22-year-old college student who was flipping through various planners. Consumers browse plane
Jan. 5, 2018
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Sales of teenagers’ makeup products surge
Sales of cosmetics for teenagers continued to rise in 2017, with 29 percent growth on-year, data from a South Korean e-commerce firm showed Friday. According to SK Planet, which operates an e-commerce platform 11st, sales of color cosmetics such as lipsticks and manicures soared by 549 percent and 233 percent, respectively. Teenagers’ makeup kits and makeup tables were also popular, with sales growing by 101 percent and 182 percent, respectively.The sales of cosmetics targeting young customers h
Jan. 5, 2018
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Korean burger restaurant Mom’s Touch taps US market
Korean hamburger and chicken brand Mom’s Touch has made inroads into the US, the homeland of burgers. The brand announced Thursday that it opened its first North American branch in Concord, California on Jan. 1.The adjacent area is packed with restaurants, but Mom’s Touch is the first one to serve burgers on the main menu. The first Mom's Touch branch in the US (Photo courtesy of Mom's Touch-Yonhap)At approximately 130 square meters, the restaurant can house about 40 customers. It has an outdoor
Jan. 4, 2018
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Debate ensues after alleged suicide attempt by passenger at Incheon Airport
Incheon Airport and Singapore Airlines are facing protest from a family after a passenger reportedly suffering from mental illness jumped from the fourth floor of Incheon Airport’s concourse while waiting for a transfer flight to Los Angeles in mid-December. The man’s family claims that Singapore Airlines, which operated his flight, and Incheon Airport Corporation should be held responsible, according to news reports.The 52-year-old American man, who was traveling in Thailand, decided to return
Jan. 4, 2018
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Korean game makers to tap global markets with major new releases in 2018
South Korea’s gaming industry closed a successful year in 2017, with mobile renditions of “Lineage” raising record sales while online games like “PlayerUnknown’s Battlegrounds” shot their way to the international spotlight. Stepping into 2018, Korea’s leading game companies are once again preparing to entice overseas users with an array of new games, looking to new markets beyond their home turf.Nexon is kicking off the new year with two new mobiles games -- martial arts role-playing game “Yulga
Jan. 4, 2018
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Hanwha buys 1,400 tickets to Winter Games to use as gifts
Hanwha Group has purchased 1,400 tickets for the forthcoming PyeongChang Olympic Winter Games and souvenirs to gift them to customers, the underprivileged and foreign military personnel temporarily living in South Korea, according to the company Thursday. (Yonhap)The conglomerate held a ceremony on Thursday in Seoul to hand out 300 tickets to over 80 military officers that came to Korea from 27 countries. Those holding the tickets have access to events such as Skeleton and Bobsleigh, according
Jan. 4, 2018
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Korea makes case against US restriction on washers
With around a month to go before US President Donald Trump makes a final decision on restrictions on imported washing machines, Samsung, LG and the South Korean government made a concentrated effort to argue that Washington’s latest plan to impose strong tariffs on their washers would do more harm than good. During a hearing held by the US International Trade Commission on Wednesday, the Korean side made a final appeal, saying the trade restrictions would hurt American consumers and hamper US jo
Jan. 4, 2018
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Food industry eyes microwavable packaging technology
With growing popularity of home meal replacements, or ready-to-eat meals that require little preparation, South Korean food processing companies are in a race to develop better and more efficient microwavable packaging. NongshimIndustry insiders said packaging technology will emerge as an important factor in the competitiveness of products, while busy lifestyles and easy preparation are also boosting the microwavable food market.According to global market research firm Smithers Pira, the South
Jan. 4, 2018
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Osulloc opens premium tea room, new branch
Osulloc Tea House, a brand under Korean cosmetics powerhouse Amorepacific, opened Tuesday the premium tea room Osulloc 1979 and a new branch in the company’s new headquarters in Yongsan, central Seoul. Osulloc 1979 (Amorepacific)Osulloc Tea House is a chain of Korean traditional teahouses that specializes in green tea and offers a variety of fruit juices, smoothies and ice cream. Osulloc 1979 is the brand’s first premium tea room. It offers a special tea blending service by a tea sommelier and a
Jan. 4, 2018
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Innocean to present smart driving sunglasses at CES
Innocean Worldwide, an advertising arm of Hyundai Motor Group, will unveil a set of smart sunglasses programmed to prevent drowsy driving and help drivers with hearing problems at the Consumer Electronics Show, the company said Wednesday. The product named “Glatus” has sensors built into the sides of the sunglasses to detect the wearer’s biorhythm. If signs of sleepiness are detected, the sunglasses vibrate to warn the wearer of the dangers of driving while drowsy, the company said. Glatus by In
Jan. 3, 2018
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Hyosung to spin off, relist subsidiaries
Hyosung on Wednesday embarked on a preliminary screening process to list a new holding company and four subsidiaries that will be spun off on the first-tier stock market Kospi, according to the Korea Exchange. By no later than June 1 this year, Hyosung will spin off the units, each dedicated to the polyester fiber industry, heavy industries, industrial materials and chemical products, according to a regulatory filing with the Financial Supervisory Service. (Hyosung)The four subsidiaries will ho
Jan. 3, 2018
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Retailers look to digital, content and overseas expansion for 2018
South Korea‘s largest retailers are looking to incorporate digital technology into their shopping experiences, inject storytelling elements into their content and expand overseas in 2018.In his New Year’s address, Lotte Group Chairman Shin Dong-bin stressed the importance of adopting a “digital transformation” in processes across the entire group. In the retail sector, Lotte has already begun adopting artificial intelligence to its shopping experiences in partnership with IBM. Last month, Lotte
Jan. 3, 2018
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Gwanghwamun ranked Seoul’s top business district
Gwanghwamun in central Seoul was ranked first among the country’s business districts in terms of yearly sales and sales volume per person. YonhapSK Telecom’s big data analysis service Geovision analyzed 20 major business districts across the country from November 2016 to October 2017. Geovision provides an analysis of business districts by tracking statistics of location, population, sales, category of business and consumer’s consumption tendency, combined with information on a map.SK Telecom sa
Jan. 3, 2018
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Samsung Heavy merges divisions, sheds 30% of execs
South Korean shipbuilder Samsung Heavy Industries has axed 30 percent of its executives as part of the struggling firm’s latest efforts to prepare for a decline in its business due to a further drop in orders. Samsung HeavyFollowing a reshuffle conducted last week, the firm now has a total of 50 board members, down from 72. It also streamlined the organization from 89 to 67 departments or teams by converging its management. In addition, the company decided to increase its capital by 1.5 trillion
Jan. 3, 2018
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Hyundai Heavy sets 2018 sales target at W7.9tr
Hyundai Heavy Industries Co., South Korea's leading shipbuilder, said Wednesday that it aims to achieve 7.98 trillion won ($7.5 billion) in sales this year as its president warned of an unprecedented crisis due to declining order backlogs."This year, we could face a grave situation that we have never gone through before," Hyundai Heavy President and CEO Kang Hwan-goo said in his speech for 2018.He warned that Hyundai Heavy could face difficulties due to dwindling order backlogs and building work
Jan. 3, 2018
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Samsung’s Lee likely to quit Boao Forum board
Samsung Electronics Vice Chairman Lee Jae-yong is likely to leave the board of the Boao Forum, known as Asia’s Davos Forum, as he is unable to carry out his role.His term as a board member ends in April. The heir apparent of the nation’s largest conglomerate is not likely to seek another five-year term, industry observers said.Lee took the board member position from SK Group Chairman Chey Tae-won in 2013. The board includes Singapore’s former Prime Minister Goh Chok Tong and former US Secretary
Jan. 3, 2018