Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
[KH Explains] No more 'Michael' at Kakao Games
-
4
Rapper jailed after public street fight with another rapper
-
5
Woman gets suspended term for injuring boyfriend with knife
-
6
Samsung chief bolsters ties with Germany’s Zeiss
-
7
Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
-
8
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
9
Med schools expect 1,500+ new admission slots next year
-
10
KT launches new mobile plans for foreign residents
-
LX International receives Red Dot Award for homepage design
LX International, formerly LG International, said Tuesday that its official homepage was among the winners of this year’s Red Dot Award in the brand and communication design category. The trading arm of LX Group said it had been recognized for the excellent user experience on its corporate homepage, which seeks to embody three concepts: trendy, interactive and innovative. The company conducted a survey of businesses partners, shareholders and job seekers before coming up with its user
Aug. 10, 2021
-
KAI to supply two Surion choppers to Korea Coast Guard
Korea Aerospace Industries said Tuesday it has signed a 49.7 billion-won ($43.2 million) deal with the Public Procurement Service to supply two Surion helicopters to the Korea Coast Guard. According to the nation’s sole aircraft manufacturer, the two units of KUH-1CG, a police version of the multi-role utility helicopter Surion, will be delivered to the Korea Coast Guard by July 2024. “The contract includes Osprey 30, a new radar that can detect 1,000 targets simultaneously. Th
Aug. 10, 2021
-
Xiaomi makes show of force one day ahead of Samsung Unpacked
Chinese electronics firm Xiaomi has scheduled a livestream event on Tuesday night to unveil its new flagship smartphone Mi Mix 4, just one day before Samsung’s annual Unpacked event, in an attempt to steal the spotlight from the South Korean electronics giant. Industry watchers say the timing of the Mi Mix 4 launch, an under-display camera model, is an open challenge to Samsung, whose soon-to-be unveiled foldable phone also happens to be a UDC model. A UDC smartphone refers to a mode
Aug. 10, 2021
-
Samsung expands presence in domestic smartphone market in Q2: report
Samsung Electronics Co. further expanded its dominance in the domestic smartphone market in the second quarter of the year, a report showed Tuesday, as its rivals struggled to gain presence. Samsung logged a share of 73 percent in the South Korean smartphone market in the April-June period, up 6 percentage points from a year earlier, according to data from market researcher Counterpoint Research. Its second-quarter market share was also 6 percentage points larger than a quarter earlier. Apple
Aug. 10, 2021
-
Banks‘ revenues from crypto transaction fees more than double in Q2
South Korea‘s banks saw a sharp increase in transaction fees from cryptocurrency exchanges in the second quarter, despite heavy fluctuation in the cryptocurrency market. The three banks in partnership with cryptocurrency exchanges -- K bank, NH Nonghyup Bank, and Shinban Bank -- made a total of 16.9 billion won ($14.71 million) from the transaction fees of the four cryptocurrency exchanges they provide real name accounts for -- Upbit, Bithumb, Coinone and Korbit -- according to data
Aug. 10, 2021
-
KT Q2 net up over 70% on 5G growth
KT Corp., a South Korean telecom giant, said Tuesday its second-quarter net income rose 77.4 percent from a year earlier on the back of robust growth of 5G network subscribers as well as its media content businesses. Net income for the April-June period stood at 370.8 billion won ($322.9 million) on a consolidated basis, compared with 209.1 billion won the same period the previous year, according to a company statement. Operating income reached 475.8 billion won, up 38.5 percent over the cited
Aug. 10, 2021
-
FSC chief urges banking group heads to strengthen household debt control
Financial Services Commission Chairman Eun Sung-soo on Tuesday called on the heads of five major banking groups here to ramp up efforts to curb snowballing household debt. “A steep increase in household debt was inevitable for the real economy to minimize the economic fallout from the COVID-19 pandemic, but the growth pace of household debt has been too rapid, raising calls for tighter household debt control measures,” Eun said during a meeting held with chairmen from KB Fin
Aug. 10, 2021
-
71 listed firms received 'adverse' audit opinions in 2020
A total of 71 listed firms in South Korea received "adverse" audit opinions in 2020, up from 65 the year prior, as the COVID-19 pandemic increased business uncertainties, government data showed Tuesday. An "adverse" opinion suggests that a company may have violated accounting standards or significantly misstated their financial records. According to a survey of 2,293 listed firms by the Financial Supervisory Service (FSS), 97 percent of the firms received clean opinions in
Aug. 10, 2021
-
Manufacturers' Q2 domestic supply rises at fastest-ever pace
South Korean manufacturers' domestic supply rose at the fastest-ever pace in the second quarter as the country's economy is on a recovery track on brisk exports, data showed Tuesday. The manufacturing domestic supply index stood at 111.1 in the April-June period, up 9.2 percent from a year earlier, according to the data from Statistics Korea. It marked the sharpest on-year gain since the first quarter of 2010 when the statistics agency began compiling related data. The index, which measures b
Aug. 10, 2021
-
KTB commits W550b to US real estate debt strategies
KTB Asset Management has closed a 550 billion won ($478.8 million) commitment to Bridge Debt Strategies Fund IV, a pooled investment vehicle mainly targeting securitized multifamily residential housing loans in the United States, the company said Tuesday. The Seoul-based asset manager added it has attracted capital commitments from eight undisclosed South Korean institutional investors, targeting annual returns of up to 11 percent from its fund-of-funds strategy. Bridge Debt Strategies Fund I
Aug. 10, 2021
-
S. Korea on recovery from fallout of avian influenza
SEJONG -- South Korea's agricultural ministry said Tuesday local chicken farms have gradually normalized their operations from avian influenza, a move that could stabilize the market price of eggs. The number of chickens supplied to the disease-hit egg farms came to around 18 million as of end of June, more than the 16 million chickens culled as a preventive measure, according to data compiled by the Ministry of Agriculture, Food and Rural Affairs. South Korea has been normalizing the operatio
Aug. 10, 2021
-
S. Korea closely assesses potential fallout from Europe's new carbon policy
SEJONG -- South Korea's trade ministry said Tuesday it is closely reviewing the potential impact from Europe's toughened carbon restrictions set to be implemented in 2023, as the move is expected to weigh down the country's outbound shipments of steel products. "The country is currently assessing the impact of the carbon border adjustment mechanism (CBAM) and plans to come up with measures to cope with the new policy," an official from the Ministry of Trade, Industry and Energy said.
Aug. 10, 2021
-
Shinsegae to open new store in Daejeon
Shinsegae Department Store will open a second branch in Daejeon on Aug. 27. At 284,224 square meters, it is to be the brand’s third-largest store in South Korea. The new location, called Shinsegae Art & Science, will consist of a department store and the 193-story Shinsegae Expo Tower, furnished with an aquarium, science exhibition spaces, a multiplex cinema and an indoor sports theme park. The tower will also feature a five-star hotel called “Onoma.” It is to be
Aug. 10, 2021
-
Tax revenue up W5.2t in June amid economic recovery
South Korea's tax revenue rose 5.2 trillion won ($4.5 billion) in June compared with a year earlier amid an economic recovery and a boom in property and stock markets, the finance ministry said Tuesday. The country collected 20 trillion won in taxes in June, higher than the 14.7 trillion won the previous year, according to the Ministry of Economy and Finance. The government said corporate tax income increased due to the economic recovery, while a boom in asset markets bolstered capital gains t
Aug. 10, 2021
-
Samsung unveils new 5nm processor for wearable devices
Samsung Electronics Co. on Tuesday unveiled its new wearable processor built on 5-nanometer (nm) process as the South Korean tech giant tries to beef up its presence in the wearable device market. The Exynos W920 is the industry's first wearable processor made with advanced 5nm extreme ultraviolet lithography technology, boasting enhanced performance and power efficiency, according to Samsung. It is expected to be used in Samsung's upcoming Galaxy Watch 4 smartwatch that will come with a new u
Aug. 10, 2021
-
LG Electronics to expand streaming service on smart TVs
LG Electronics Inc. on Tuesday said it will expand its streaming service on smart TVs as the tech giant tries to increase its presence amid the pandemic-driven stay-at-home trend. The South Korean company said LG Channels will be launched in an additional 11 European countries, including Switzerland and the Netherlands, within this year. LG Channels, LG's free content streaming service set up in 2015, is currently available in 14 countries providing some 1,600 channels, but that will be expand
Aug. 10, 2021
-
LG Uplus to offer Spotify to mobile subscribers
LG Uplus Corp., a major South Korean telecom operator, said Tuesday it will offer Spotify to its mobile users for up to six months in a move expected to expand the music streaming service's presence in the country. The telecom operator said subscribers to its 4G LTE and 5G network plans will have free access to Spotify Premium, which costs 10,900 won ($9.5) a month here, for three to six months, depending on the price of their plans. The move virtually applies to all of LG Uplus' around 15 mil
Aug. 10, 2021
-
Banks urged to set up tighter supervision of household debts
A top financial regulator called Tuesday for banks to set up tighter supervision of household debts as policymakers voiced warnings against growing financial imbalances amid a surge in home prices. Eun Sung-soo, the outgoing chairman of the Financial Services Commission (FSC), made the remarks at a meeting with chief executives of financial holding firms earlier in the day. Eun also urged banks to preemptively act to keep household debts in check, the FSC said. Eun's remarks came as the Bank
Aug. 10, 2021
-
Samsung ranks 4th in Android 5G smartphone market in Q2: report
Samsung Electronics Co. was the world's fourth-largest vendor of Android 5G smartphones in the second quarter of the year, a report showed Tuesday, as Chinese makers aggressively expanded their presence. Samsung had a market share of 16.5 percent in the April-June period after shipping 15.6 million units of 5G smartphones powered by the Android operating system, according to market researcher Strategy Analytics. China's Xiaomi led the market with a share of 25.7 percent after its shipments soa
Aug. 10, 2021
-
Department store sales climb at fastest pace in Q2
Sales of department stores in South Korea grew at the fastest-ever clip in the second quarter of the year amid the coronavirus pandemic, data showed Tuesday. Local department stores saw their sales in terms of constant prices soar 20.3 percent on-year in the April-June period, according to the data from the Korean Statistical Information Service (KOSIS). It was the largest-ever on-year increase for the second quarter since data tracking began in 1995. Industry watchers attributed the second-q
Aug. 10, 2021