Most Popular
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Korean industries gauge impact of Biden's steep tariffs on China
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Do Korean doctors make too much money?
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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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Debate on 'no-seniors zones' heats up
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CIO chief nominee to explain allegations at confirmation hearing
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Yoon vows to run country 'rightly' on Buddha's birthday
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Debt exposure of marginal companies on the rise: report
South Korean marginal companies are finding it more difficult to cope with their debt as the economic slowdown makes it harder for them to meet interest payments and other financial obligations, a local think tank said Sunday.The corporate debt and restructure report released by the Korea Institute of Finance showed debt accrued by private sector companies hit 1,253 trillion won ($1.08 trillion) as of late June.This is equivalent to 82.8 percent of the country's nominal gross domestic product, u
Nov. 29, 2015
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Gimhae airport mulls additional expansion to meet rise in passenger traffic
Gimhae International Airport that serves South Korea's second-largest city and the neighboring South Gyeongsang Province is considering a second expansion to meet the spike in passenger traffic, the local airport authority said Sunday.According to Korea Airport Corp., which manages 14 air terminals around the country, Gimhae is currently moving to carry out a preliminary feasibility test for the additional expansion, even before the first phase of enlarging the airport is completed in January 20
Nov. 29, 2015
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Samsung's SSD global market share hits 41% in 2015: data
Samsung Electronics Co., one of the largest producers of computer chips, controlled more than 40 percent of the global solid state drive market this year, outpacing rivals like Intel Corp. and SanDisk Corp., industry data showed Sunday.According to market researchers IHS and DRAMeXchange, Samsung's market share hit a record 41 percent, 2.6 times larger than its closest rival Intel, which held 16 percent.The two companies were trailed by SanDisk Corp. with 10 percent control, while Micron Technol
Nov. 29, 2015
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Hyundai workers elect leader behind one of union’s worst strikes
Hyundai Motor Co. workers re-elected a labor leader who was in power almost a decade ago during one of the worst years of industrial strife at South Korea’s largest automaker, setting the stage for final wage talks next month.Park You-ki, 50, beat former deputy head Hong Sung Bong to become union president, according to the labor group. In his previous term leading the union in 2006 and 2007, Hyundai suffered its second-biggest annual production loss of 118,293 units from work stoppages, costing
Nov. 28, 2015
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[Weekender] Targeted digital advertising on demand
It’s not just content that matters in the advertising world. Thanks to ever-evolving information technology, media platforms have become an equally important part of advertising. Adknowledge, a U.S.-based company, found a business opportunity in IT. The company consults on and arranges the placement of advertisements based on its analysis of mostly users of social media ― Facebook, Twitter, Instagram and YouTube. The company has become an online sensation by placing Samsung mobile phone commerci
Nov. 27, 2015
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[Weekender] Advertisers think outside the box
More advertisement creators are trying to think outside the box to promote products and services.Several foreign advertisements in recent years found new and innovative ways to communicate by breaking social expectations and making clever use of their advertising media. Screenshot of Sky TV’s 40-second live ad for Champions League matches.(Sky)Here are three advertisements that turned heads and at the same time won critical acclaim for their quality and ingenuity. Geico’s “Unskippable” series be
Nov. 27, 2015
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[Weekender] Relatable, consoling campaigns tug at hearts of modern Koreans
For the last 25 years, a billboard inscribed with messages of hope, courage and love has been hanging on the Kyobo Life Insurance headquarters in southern Seoul.“Though simple, the words have consoled me during times of hardships and reminded me of life’s priorities during busy periods,” said 35-year-old Kim Yong-bae, who passes by the billboard on his way to work every day. The Kyobo Life Insurance billboard featuring a quote from an essay by American poet Mary Oliver is hung at the firm’s head
Nov. 27, 2015
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[Weekender] Ad industry microcosm of economic change
In South Korea, one of the top 10 advertising markets globally by expenditure, the ad industry has evolved in line with the country’s rapid economic growth and downturns throughout its nearly 130-year history. As a mirror of society, ads offer a glimpse of the times. One example is a television commercial for energy drink Bacchus, which recently won the top honor in the Korea Advertising Awards, selected based on consumers votes.Under the theme of “Living life as a father/undutiful child/boyfrie
Nov. 27, 2015
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[Weekender] Selling products, buying dreams
The 1998 film “The Truman Show” depicts how a person can live without noticing that his whole life has been one gargantuan billboard. Whether it is a carton of milk he drinks or something that he or his wife picks up from the floor, the everyday items in his life are exposed to tens of millions of viewers, attracting people’s attention and zeal to buy them. But the protagonist Truman Burbank does not realizethat he is a model in this 24-hour reality advertising show because his life as an adver
Nov. 27, 2015
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LG Display to invest 1.8 tln won in new facility
South Korean panel maker LG Display Co. said Friday it plans to invest 1.8 trillion won ($1.56 billion) in a facility to tap deeper into the organic light-emitting diode segment.Under the plan, the South Korean panel maker will build a new factory in Paju, north of Seoul, which will produce large OLED panels, including flexible models, the company said.LG Display said the new factory will be the size of 14 football fields and will be 100 meters tall. It is set to be completed in the first half o
Nov. 27, 2015
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How to join in U.S. Black Friday from Korea
Though there have been a string of big sales events taking place in South Korea recently, nothing can beat the scale of the annual U.S. Black Friday sales set to kick off at midnight in the U.S., or 2 p.m. Friday in Korea. On Black Friday -- falling the day after Thanksgiving, among the biggest U.S. holidays of the year -- retailers and store brands across the U.S. will offer bargain deals and large discounts, some reaching as high as 90 percent, on numerous product categories.The U.S. Black Fri
Nov. 26, 2015
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Gyeonggi Center for Creative Economy & Innovation actively supporting startups
LinearHub is a collaboration solution startup established last June. Three months after its incorporation, the company was selected as a startup eligible for incubation support from the Gyeonggi Center for Creative Economy & Innovation, leading it to move its base of operations to the Center.Product screen shotThe collaboration solution product of LinearHub aims to provide video conferencing services for enterprises through web-based and mobile channels. Besides audio visual communications, it e
Nov. 26, 2015
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Lotte recalls 290,000 boxes of defective Pepero
Lotte Confectionery said Wednesday it is recalling 290,000 boxes of its White Cookie Pepero snacks worth 6.7 billion won ($5.84 million) manufactured between June and October, following continued customer complaints of a “bad odor” and an “odd taste.”Since Nov. 12, Lotte has taken back 140,000 boxes of the Pepero -- the brand’s longtime best seller -- variety under question, around 50,000 of which were already sold to consumers. The snack brand is granting refunds to those who bought the defecti
Nov. 26, 2015
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Seoul Character & Licensing Fair seeks to appeal to all ages
The 2015 Seoul Character & Licensing Fair will kick off next month, newly equipped with a “Kidult” zone for older character enthusiasts, as organizers seek to expand the event’s scope to attract not only children, but also adults and families. Co-organized by the Korea Creative Content Agency and Coex and sponsored by the Culture Ministry, the fair will take place from Dec. 16-20 across three exhibition halls inside Coex, showcasing some 798 booths operated by 292 participating character firms a
Nov. 26, 2015
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[Photo News] Mundipharma Korea wins 'best company' award
BEST COMPANY AWARD -- Mundipharma Korea was recognized as the best foreign company in the “career opportunity growth” category at the 2015 Best Companies Awards organized by JobPlanet and Fortune Korea. Mundipharma operates an uncapped incentive system based on quantitative and qualitative assessments of its employees and the so-called “best practice sharing” program, which encourages employees to share their success to boost motivation. The pharmaceutical company also supports employees who wan
Nov. 26, 2015
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Global beauty brands pick more Korean celebs
More and more global cosmetics companies are hiring Korean models dedicated to the Korean market, some of the finickiest customers in the world.From actresses to fashion models, these localized models do what foreign, mostly western, models cannot do -- represent women with darker skin shades, higher cheekbones, smaller eyes and noses and, most importantly, the pursuit for fairer skin tone. And the result is quite rewarding with higher sales as well as global recognition, especially in Asia, whe
Nov. 26, 2015
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Hanwha supports college start-ups
Hanwha Group announced Wednesday the launch of the Hanwha Membership Program to foster and support those who wish to operate a global start-up or work as single-person content creators.The program is intended to combine Hanwha’s global talent fostering program with entrepreneurially minded Korean college students and foreign exchange students who wish to work abroad (particularly in China) and innovative ideas across a variety of interests. The program does not put a limit on the students’ age o
Nov. 26, 2015
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Asiana's support for Chinese children
Executives and officials from Asiana Airlines pose with Indian schoolchildren after attending a charity event Wednesday to support poor children in New Delhi, India. (Asiana Airlines)
Nov. 26, 2015
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Tongyang ordered to compensate investors for issuing nonperforming debts
A Seoul court on Thursday ordered a local securities firm to compensate its investors for deceiving them into buying fraudulent corporate bonds and commercial papers. The Seoul Central District Court said Tongyang Securities Co. is to compensate six plaintiffs, out of 19 in total, amounts ranging from some 1.7 million won ($1,560) to 25 million won each. The company failed in the first round of restructuring on Aug. 20, 2013 but issued corporate bonds and recommended investment about a week l
Nov. 26, 2015
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Sales rise at department stores but down at discount outlets in Oct.
Sales at major department stores here rose in October amid a nationwide sales event, but major discount outlet chains suffered a slight drop in sales, government data showed Thursday. The combined sales of three major department store chains -- Hyundai, Lotte and Shinsegae -- surged 11.4 percent from a year earlier last month, according to the data compiled by the Ministry of Trade, Industry and Energy. The large on-year gain was partly attributed to the government-initiated spending promotio
Nov. 26, 2015