Most Popular
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Confusion over alleged S. Korean drone intrusion: Who's behind it?
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South Korean military has ‘nothing to confirm’ on North Korea preparing border artillery corps to shoot
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Han Kang’s Nobel Prize opens new horizons for Korean literature
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2 Filipinas who left pilot program cite overwork, excessive surveillance
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Border tensions heighten as North Korea builds up drone incursion claims
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K-pop song once recommended by Nobel laureate Han Kang returns to music charts
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SK heiress weds Chinese American entrepreneur
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Korean chipmakers should not repeat mistakes of Toshiba, Intel: ex-ministers
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Riize speaks out on Seunghan’s return
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Teacher suicides averaging 20 per year: data
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Hyundai highlights Genesis, global talent in reshuffle
Hyundai Motor Group on Monday promoted 368 staff at the executive level of 25 affiliates, highlighting the company’s globalization strategy as well as its new standalone premium sedan brand, the Genesis. Luc Donckerwolke and Manfred Fitzgerald“The promotion is designed to beef up our core competitiveness in future technologies, quality and brands, to become the global market leader,” a Hyundai spokesman said. The company appointed Luc Donckerwolke as the head of Hyundai Design Center, and Manfre
Dec. 28, 2015
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Hanwha opens skyscraper duty-free store
Hanwha Group, the country’s ninth-largest conglomerate, opened the Galleria Duty Free 63, a new urban duty-free store located in the iconic 63 City building of Yeouido, southwestern Seoul, on Monday. It aims to generate more than 500 billion won ($430 million) in sales with annual growth of more than 14 percent. The burgeoning duty-free unit under Hanwha Galleria Time World ― retail arm of the group ― threw open 60 percent of the 10,153 square-meter store stocked with 369 glitzy brands attractin
Dec. 28, 2015
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Lotte replaces duty-free chief
In the aftermath of its failure to retain the license for an urban duty-free shop, Lotte Group appointed Chang Sun-wook as the new head of Hotel Lotte’s duty-free operations on Monday.Chang will replace Lee Hong-kyun, who resigned after taking responsibility for having to shut down Lotte Duty Free Shop in Jamsil, southern Seoul. Lee will remain as an advisor.The country’s fifth-largest conglomerate said Chang, who currently heads Lotte’s advertising agency Daehong Communications, has a long hist
Dec. 28, 2015
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History of American rock ’n’ roll offers vision for K-pop’s future
A former Korean journalist has published a book that traces the holy grails of rock ‘n’ roll based on his journey across the musical heartlands of the U.S.“In Search of Rock ‘n’ Roll Heritage: American Rock Music Landmarks” is a travelogue highlighting the cultural and economic power of museums, monuments and memorials. The book was written by Cho Hyun-jin, a distinguished professor at Kookmin University and former journalist for YTN, Arirang TV and Billboard magazine, who is also credited with
Dec. 28, 2015
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EU lauds Paris climate deal
The adoption of the historic agreement at the United Nations Climate Change Conference in Paris on Dec. 12 was an “unprecedented political victory” and “turning point” toward sustainable international development, the French Embassy announced last week. Publicizing a statement from the French Ministry of Foreign Affairs and International Development, the diplomatic mission stressed that the legally binding accord among 195 participating nations ― to cap global warming at 2 degrees Celsius above
Dec. 28, 2015
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Syrian student on mission to help refugees
When the world mourned over dead Syrian toddler Aylan Kurdi, who washed up on a Turkish beach in early September, one Syrian man was not tormented. He had lost three children in an air strike some time before. “The boy looked like a sleeping angel. I wish my children had died like that,” the grief-stricken father told Abdul Wahab Almohammad Agha, the director of humanitarian organization Help Syria, at a refugee camp in Jordan in September. “Aylan’s father is a lucky guy compared to me. I died e
Dec. 28, 2015
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Ahn promises ‘rational reform’
Rep. Ahn Cheol-soo said Sunday that his forthcoming political party would seek rational reform, further distancing himself from the established parties that he has vowed to challenge in next year’s general election.He also stepped up his attacks against the Park Geun-hye administration, lambasting its economic policies as “insufficient” and “uncreative.”“The new political party will embrace ‘rational reform’ instead of ‘old progressivism’ and ‘reactionary conservatism,’” the independent lawmaker
Dec. 27, 2015
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Asia Culture Center to serve as ‘test bed’ for original content
GWANGJU ― If you exit the subway station connected to the Asia Culture Center in Gwangju thinking that the multicultural complex will be similar in scale to the Seoul Arts Center in southern Seoul, you should think again. Asia Culture Center in Gwangju (Culture Ministry)With its five interconnected buildings based on different yet synergistic and convergent themes, the Asia Culture Center strikes awe in visitors, who marvel at the architecture and the interior maze of exhibition and performance
Dec. 27, 2015
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Park at the vanguard of cultural diplomacy
The strains of “Arirang,” Korea’s unofficial national anthem, filled the air as President Park Geun-hye smiled at the National Marionette Theatre in Prague early this month, followed by Czech folk song “Humoresques.“Titled “In the Attic,” the puppet show was the product of collaboration between the two countries’ artists ― traditional Korean pansori piece “Sugungga” formed the central music and story line under the command of a Korean director, while the rabbit and turtle marionettes playing the
Dec. 27, 2015
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[Newsmaker] Mirae Asset to shake up brokerage industry
In South Korea where many family-run conglomerates hold the whip hand over much of the economy, the self-made billionaire Park Hyeon-joo’s bold step to create the country’s biggest brokerage has come into the spotlight after his successful bid to acquire KDB Daewoo Securities. Mirae Asset Financial Group chairman Park Hyeon-joo. (Yonhap)When a consortium of Mirae Asset Securities and Mirae Asset Global Investments was chosen as the preferred bidder to take over the country’s second-largest broke
Dec. 27, 2015
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Let’s finally end debate over tech bubble
Jeff ImmeltLet’s finally end the debate over whether or not we are in a “tech bubble.”There has been talk of a bubble going back to 2011 and it continues to rage today.I believe that this is shortsighted and rooted in the belief that at some point the tech industry must undergo the same unfortunate “burst” as in 2000.This line of thinking ignores the immense value that digital technologies have already created in the consumer world: the “app economy” alone is worth an estimated $300 billion.More
Dec. 25, 2015
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Shilla, HDC open duty free store
Kim Jae-shik (third from left), president of Hyundai Development, Lee Gil-han (fourth from left) and Yang Chang-hoon (fifth from left), coheads of HDC Shilla Duty Free, and Hotel Shilla CEO Han In-kyu (fourth from right) attend the opening of Shilla HDC Duty Free in Yonsang I’Park Mall in Seoul on Thursday. HDC Shilla Duty FreeShilla I’Park Duty Free, an urban duty-free store at I’Park mall in Yongsan, central Seoul, opened on Thursday.In the first stage, only 60 percent of the total 30,400 squ
Dec. 25, 2015
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[Newsmaker] Hyundai Motor, union set to end wage dispute
After marathon 11-hour negotiations representatives of labor and the management of Hyundai Motor reached a tentative deal on wages Wednesday, ending months of internal conflicts that wobbled the nation’s largest automaker already facing lower-than-expected sales this year. Hyundai Motor president Yoon Gap-han (right) and labor union leader Park Yoo-ki leave after reaching a tentative agreement on wage and other labor issues in Ulsan, Thursday. (Yonhap)The two sides agreed to raise 85,000 won in
Dec. 24, 2015
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Four more years of cheap oil: OPEC
VIENNA (AFP) - The OPEC oil cartel sees only a gradual improvement in the global crude market, with prices recovering to above $70 per barrel after four years, according to a report released Wednesday.With the global benchmark oil price touching an 11-year low of $36.04 on Monday, the cartel which produces a third of the world's crude said that it foresees a "gradual improvement in market conditions as growing demand and slower than previously expected non-OPEC supply growth eliminate the existi
Dec. 24, 2015
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Hyosung honors injured soldiers with ‘Foot of Peace’
An artwork installation commemorating South Korean military soldiers’ sacrifice for national security was installed at the Nuri Peace Park in Imjingak, northern Gyeonggi Province, in a ceremony Wednesday.The piece was installed by Hyosung Group, which provided financial support of 200 million won ($170,000). Hyosung president Cho Hyun-joon (fourth from right) and military officers applaud at the installation ceremony of the artwork, “The Foot of Peace,” at Nuri Peace Park in Imjingak on Wednesda
Dec. 23, 2015
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KEPCO E&C tops global sales in nuclear power plant design
Korea Electric Power Corporation Engineering and Construction on Wednesday said it generated a world-best $126 million in overseas sales for nuclear power plant design in fiscal 2014.The KEPCO affiliate topped the chart for the fourth consecutive year since 2011. The ranking is based on research by U.S.-based Engineering News-Record on the sales performances in the previous year of the top 225 international design firms.“Designing four units of power plants in Barakah of the United Arab Emirates
Dec. 23, 2015
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Foreign direct investment surpasses $20b
The amount of foreign direct investment to South Korea exceeded $20 billion this year, with $15 billion having arrived here as of Tuesday, the Ministry of Trade Industry and Energy said Wednesday. The most ever investments of $20.43 billion is an increase of 11.2 percent from that of 2014, while the $15.19 billion that has reached the country is also a 28.6 percent jump during the same period. The authorities credited the Korea-China free trade agreement as the largest contributor. The pact, sig
Dec. 23, 2015
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Shinsegae jumps into cosmetics manufacturing business
Shinsegae International, a luxury fashion unit of retail giant Shinsegae Group, Wednesday announced its advancement into the cosmetics industry by collaborating with Italian beauty product maker Intercos. Shinsegae, famous for acquiring the exclusive distribution rights of a slew of global high-end perfume brands here, expects to pierce the luxury market with its own brand, while Intercos is hoping to get a strong foothold in the Asian market, the company said. Intercos is a globally leading ori
Dec. 23, 2015