More than 200 policymakers, industry specialists and startup founders gathered on Friday at a forum in Seoul to discuss ways to boost venture capital funding and foster healthy business environments for young entrepreneurs. The Asan Nanum Foundation, a charity run by Hyundai Heavy Industries and its affiliates, hosted the one-day event as the latest in a string of its programs to back startup ho...

Negotiations collapse between construction, cement, ready-mixed concrete companies The rift deepened on Thursday between Korea’s construction, cement and ready-mixed concrete companies as a series of price negotiations ended in stalemate with all sides refusing to compromise. Squeezed by soaring raw material costs, some 750 manufacturers of premixed concrete across the country halted production...

Korean companies, think tanks and universities will team up with Boeing to jointly develop advanced materials and parts for aircraft as part of a government program to boost their competitiveness in the global market. The Ministry of Knowledge Economy said it signed an agreement with the world’s largest aerospace company on Wednesday to crank up technological collaboration. Five research institu...

KT&G plans to release a new brand of menthol cigarettes with capsule filter technology on Thursday, Korea’s top tobacco maker said Wednesday. The Bohem Mojito Double is a follow-up to the company’s other menthol product, the Bohem Mojito, which has been popular with young smokers since its launch in June, claiming a 2 percent share in the domestic market. The latest product will give an extra b...

CEO vows to tackle social bias and external pressure, while planting sound gaming culture at resort complex Corruption, bankruptcy and broken homes have been typical of the images of gambling in the minds of Koreans. The risks of addiction and ethical degradation have also put the gaming business under heavy government regulations and civic scrutiny. Kangwon Land, the sole domestic casino compl...

BUSAN ― Pernod Ricard Korea has donated 100 million won ($88,800) to Busan to help the local government promote bicycling, the local unit of the French drinks group said Sunday. The funds will be used to help create a bike park and set up related facilities in the southeastern port city, said the company, which distributes Ballantine’s and Imperial whiskies, Chivas Regal scotch and Absolut Vodka...

Peach Aviation, AirAsia Japan, Jetstar Japan and Spring Airlines tapping Korean market Competition between Asia’s low-cost airlines is poised to heat up this year as carriers from Japan and China are lining up to launch new routes to Seoul, seeking to gain an upper hand in one of the world’s fastest growing aviation markets. That will bring fresh challenges to Korea’s two full-service airlines,...

KT&G Corp. plans to roll out a new version of its Raison cigarettes starting Feb. 22, Korea’s largest tobacco company said Thursday. The Raison Aero is designed to provide a refreshing taste for customers by empting the tip of the filter to screen out tar and nicotine, the company said in a statement. The latest product comes in two types, containing 1 milligram and 5 milligrams of tar. It cost...

Incheon International Airport Corp. won the world’s best airport title from the Airports Council International for a seventh straight year in 2011. The airport, Korea’s main gateway, said Tuesday it has been ranked top in the non-profit association’s annual airport service quality report, followed by Singapore and Beijing. Gimpo International Airport also secured the No.1 spot in the mid-size a...