Most Popular
-
1
Korean industries gauge impact of Biden's steep tariffs on China
-
2
Do Korean doctors make too much money?
-
3
Is FTC's conglomerate listing a boon or bane for Hybe?
-
4
NewJeans to headline palace show
-
5
Coupang's Kim Bom escapes chaebol chief designation again
-
6
Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
-
7
CIO chief nominee to explain allegations at confirmation hearing
-
8
Yoon vows to run country 'rightly' on Buddha's birthday
-
9
Why Korean crime stories typically feature nameless, faceless perpetrators
-
10
[Bridge to Africa] S. Korea-to-Zimbabwe value chains can foster ‘win-win’ cooperation
-
Budget airlines turn to IPOs as competition rises
Low-cost carriers in Korea are preparing to go public, hoping to raise funds that will allow them to expand their route offerings as the short-haul market reaches a saturation point here.Jin Air, the budget airline affiliated with Korea‘s flagship carrier Korean Air, said Tuesday it had filed a registration statement with the Financial Services Commission and was on track to debut on Korea’s main bourse in early December. (Jin Air)The airline said the initial public offering would raise up to 38
Nov. 1, 2017
-
iPhone X price for Korean market exceeds predictions
Tech giant Apple announced prices for the iPhone X in Korea on Wednesday, raising eyebrows with the higher-than-expected sticker price.The iPhone X, the most expensive phone yet in the iPhone series, will cost 1.42 million won ($1,270) for the 64-gigabyte model and 1.63 million won for the 256 GB model. The phone is priced about 300,000 won higher than the iPhone 8, which was released in Korea last month. iPhone X (Apple Korea website)The announced prices are significantly higher than iPhone X p
Nov. 1, 2017
-
KCCI chief urges businesses to embrace change in policy first
Park Yong-maan, chairman of the Korea Chamber of Industry and Commerce urged businesses on Wednesday to seek growth strategies for the future first, rather than raising voices against the government to lift regulatory hurdles. KCCI Chairman Park Yong-maan speaks at a conference in Seoul on Wednesday. (Yonhap)At a meeting with heads of KCCI’s regional branches in Daejeon, Park also stressed that they should embrace the recent change in the job market driven by the Moon Jae-in government, calling
Nov. 1, 2017
-
[Exclusive] Lamborghini family‘s new EVs seeks to run on LG batteries
Town Life, a utility vehicle business unit owned by the Lamborghini family, is looking to use LG Chemical’s batteries for its new electric vehicles, the Italian carmaker‘s local partner company in Korea said Wednesday.“The company is thinking of using LG batteries for an electric version of Town Life vehicle model,” said Harrison Lee, Green Power Circuit Corporation Korea CFO. Town Life Chairman Ferruccio Lamborghini introduced Town Life's new electric motorcycle Tuesday at a press conference h
Nov. 1, 2017
-
Three more Paris Baguette branches to open at Singapore Changi Airport
South Korean food manufacturer and distributor SPC Group will add three more Paris Baguette branches at Singapore Changi Airport, the company said Wednesday.The three bakery-cafe branches will be located at newly built Terminal No.4, which has been designed to cover 16 million passenger movements a year. The terminal was opened to the public Tuesday. (SPC Group)Singapore Changi Airport annually handles some 52 million passengers as of last year, listed as the world’s sixth-busiest airport in te
Nov. 1, 2017
-
Superrich children earn more in dividends than adults: data
Underage heirs of affluent families have been earning more dividend income than the average adult shareholder in recent years, data showed Tuesday.According to data submitted by the National Tax Service to the parliamentary strategy and finance committee, 303,197 adult shareholders were reported to have received stock dividends of 20 million won ($17,800) or more from 2013 to 2015.The aggregated amount stood at 28.6 trillion won, with the average amount per person lingering around 94 million won
Nov. 1, 2017
-
Lotte Group hoping for biz comeback on Korea-China thaw
Lotte Group, a conglomerate whose affiliates sprawl from supermarkets to duty-free stores and construction, is hoping for a big comeback in its China business after suffering major losses resulting from a Seoul-Beijing diplomatic spat, corporate insiders said Wednesday.Seoul and Beijing announced a day earlier that they will make efforts to put their relations back on track, toning down a yearlong conflict over South Korea's decision to deploy a US missile defense system on its soil.Lotte became
Nov. 1, 2017
-
Samsung SDI makes turnaround in Q3
Samsung SDI said Tuesday the firm has made a turnaround in the third quarter on the back of stable and even growth in both battery and electronic material businesses. The firm posted 1.7 trillion won ($1.5 billion) in sales, a rise of 32.4 percent, and 60.2 billion won in operating profit, making a turnaround with the rise of 170 billion won year-on-year. Samsung SDI said its rebound was driven by solid performance in both of its battery and electronic materials. Its battery sales rose from Euro
Oct. 31, 2017
-
Retailers cautiously optimistic of China thaw
Retailers are cautiously optimistic about the possibility of rising sales as relations between Korea and China show signs of reconciliation.On Tuesday, the Korean and Chinese foreign ministries issued a joint statement saying the two countries “agreed to expeditiously bring exchanges and cooperation in all areas back onto a normal track,” following a meeting between Korean security official Nam Gwan-pyo and China‘s assistant foreign minister Kong Xuanyou.The official statement came after a spoke
Oct. 31, 2017
-
SK Planet upgrades 11st global shopping site
SK Planet‘s online shopping platform 11st has upgraded its online shopping platform for overseas customers, the company said Tuesday. Available in both English and Chinese, the newly launched 11st Global gives overseas shoppers access to a wider range of products listed by Korean sellers. (SK Planet)The renewed website allows customers to combine multiple orders into the same parcel, according to the company. Overseas customers can also choose payment options including PayPal and Alipay, it add
Oct. 31, 2017
-
[Herald Interview] Increased Asia-Pacific forestation to expand ecotourism: APEC director
As Seoul played host to the Asia-Pacific Economic Cooperation’s fourth annual Meeting of Ministers Responsible for Forestry, ministers from around the region came to Korea to highlight the importance of woodland expansion and management on an economic level. Alan Bollard, executive director of the APEC Secretariat based in Singapore, says aside from the obvious environmental advantages for increasing forestation in any nation, expanding a region’s woodland also provides countless economic bene
Oct. 31, 2017
-
Forestry ministers highlight measures for illegal logging, job creation at APEC forum
Ministers from across the Asia-Pacific region have gathered in Seoul this week to discuss the varying social, economic and environmental issues related to forestry management, during the Asia-Pacific Economic Cooperation’s fourth annual Meeting of Ministers Responsible for Forestry, held from Monday to Wednesday. One of the main focuses of this year’s forum is stressing the need for regional cooperation in tackling illegal logging and related product trade restrictions. The ministers meeting hi
Oct. 31, 2017
-
Buoyed by record profits, Samsung to bet big on chips despite oversupply concerns
Samsung Electronics, after posting more record profits in the third quarter driven by strong chip performance, said it would further invest in memory chips next year, despite some market concerns about oversupply.Samsung said Tuesday it posted revenue of 62 trillion won ($55 billion) and an operating profit of 14.5 trillion won, a 30 percent and 179 percent rise respectively on-year. Nearly 70 percent of the operating profit came from its memory chip unit that posted an operating profit of 9.96
Oct. 31, 2017
-
Samsung announces new board chairman, three CEOs
After announcing record-breaking earnings in the third quarter, Samsung Electronics on Tuesday revealed its new leadership by promoting current heads of three business divisions to CEOs, and appointing jailed de-facto leader’s close associate as the new chairman for the board of directors, choosing stability over radical makeover. Samsung announced that President Kim Ki-nam has been promoted to CEO of the Device Solutions Division, while Kim Hyun-suk will be CEO of the Consumer Electronics Divis
Oct. 31, 2017
-
Decades of forest-building efforts pay off in S. Korea: KFS
Since its inception, the state-run Korea Forest Service has been striving to turn wasteland into forests in the 1970s and to cultivate forestry resources since late 1980s.The decadeslong state-led efforts appears to be paying off. The copious volume of forests now provides not just environmental benefits but also act as commercial assets and public goods, according to the KFS.(Yonhap)South Korea has 6.3 million hectares of forest, covering 63.2 percent of its land, as of 2015, the fourth-highest
Oct. 31, 2017
-
Korean firms' sales and operating profit margin up in 2016
Combined sales of South Korean companies rose 2.6 percent in 2016 from a year earlier due to brisk construction and housing businesses, central bank data showed Tuesday.The Bank of Korea said sales of the manufacturing sector fell 0.5 percent in 2016, compared to a 3-percent contraction in 2015. Meanwhile, sales in the non-manufacturing sector grew 5.4 percent in 2016 from a year earlier, driven by the construction and housing businessesConglomerates said their sales dropped 1.6 percent in 2016,
Oct. 31, 2017
-
Convenience store CU launches food line for ‘lone drinkers’
Convenience store chain CU said Tuesday that it has launched single-portion packages for people who drink alone.The new CU package comes in two types with one for soju and the other for beer. Both are priced at 3,800 won ($3). Soju package (left) and beer package (CU)The soju package has spicy pork, pan-fried dumplings, cheese gratin, sausage cooked with vegetables and spicy garlic-flavored ramen. The beer package has Japanese savory pancake okonomiyaki, deep-fried dumplings in hot pepper sauce,
Oct. 31, 2017
-
Number of outbound travelers hit record high in Jan-September period: data
The number of South Koreans traveling abroad hit a record high this year amid a growing surge in the number of outbound tourists, industry data showed Tuesday.The figure was 19.6 million for the first nine months this year, according to the statistics provided by the Korea National Tourism Organization. (Yonhap)The number compares with 18.5 million for the January-October period last year, when the annual figure was the largest ever at 22.3 million.The figure for the whole of this year will like
Oct. 31, 2017
-
Korea's industrial output up for 3rd month in Sept.
South Korea's industrial output rose slightly for the third consecutive month in September from a month earlier on a rise in major industries, government data showed Tuesday.Production in the mining, manufacturing, gas and electricity industries climbed 0.1 percent on-month in September, following an adjusted 0.1 percent rise in the previous month, according to the data by Statistics Korea. It is the first time in more than four years that the figure has remained in positive terrain for three mo
Oct. 31, 2017
-
Samsung Electronics' net more than doubles on-year in Q3
Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom.Net profit came to 11.1 trillion won ($9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said through a regulatory filing.Operating profit came to 14.53 trillion won in the July-September period, also rising sharply from 5.2 trillion won posted last year. The figure met the estimate of 14.5 tri
Oct. 31, 2017