Chey Tae-won, chairman of major South Korean conglomerate SK Group, has been summoned again for questioning over corruption allegations that have led to the successful impeachment of former President Park Geun-hye, company officials said Saturday.Chey, 56, has been told to appear before the prosecut

Samsung Electronics Co. on Wednesday launched a new line-up of its high-tech televisions using quantum dot technology, as it seeks to strengthen its market share in the global premium TV market.Quantum dot TVs offer better picture quality and cheaper manufacturing costs than organic light-emitting d

Samsung Electronics Co. said Saturday it has completed acquisition of the U.S. automotive electronics firm Harman International Industries Inc.The South Korean tech giant said all the processes, including approval from antitrust watchdogs, have been finalized for the US$8 billion deal, which marks t

Bank of Korea (BOK) Governor Lee Ju-yeol on Saturday called for close monitoring of the financial and currency markets as the U.S. Federal Reserve is highly likely to raise key rates at its policy meeting next week."There is a very high possibility the Fed will increase its interest rates this mont

Sales of South Korea's online shopping malls rose dramatically in recent months helped by the growing number of Chinese customers, data showed Monday, amid China retaliating against South Korea over Seoul's plans to deploy an advanced U.S. missile defense system on its soil.China has been re

South Korea's public financial service firms will aggressively write off nonperforming loans extended to low-income people in a bid to facilitate their debt rescheduling, a public agency said Monday.The decision came at a meeting of the nation's regulators and the heads of such organizations

South Korea's consumption of petroleum products exceeded 900 million barrels last year to reach a new record, according to the Korea National Oil Corp. (KNOC) on Sunday, apparently helped by low global oil prices. Local consumption of petroleum products reached 922.12 million barrels last year,

Lockable refrigerators and special laundry cycles for local costumes, some of the unconventional product ideas tried by South Korea's Dongbu Daewoo Electronics, have helped the company become a major hit in the Middle East, the firm's officials said Sunday.The fridges with locks, launched in

South Koreans' purchase of printed books hit a record low in 2016, official data showed Saturday amid multiple signs that they are reading fewer books amid falling income and the growing use of mobile devices and web-based social networking services. Households with two members or more spent an

GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., is set to begin taking preorders for the Chevrolet Bolt electric vehicle (EV) this month, an informed source said Saturday."The company is currently scheduled to begin taking preorders before the end of March," the source to

South Korea's tourism industry is on alert as China has set out to prevent its people from traveling to Korea in protest against Seoul's deployment of a high-tech U.S. anti-missile battery, industry sources said Friday.On Thursday, Beijing told major travel agencies in the country to stop se

South Korea's trade minister will meet with his U.S. counterpart next week to discuss pending issues between the two countries, the ministry here said Friday.The Ministry of Trade, Industry and Energy said Trade Minister Joo Hyung-hwan will visit Washington on March 5-8 and have talks with new U

South Korea's exports jumped 20.2 percent last month from a year earlier at the fastest clip in five years on rising oil prices and recovering world trade, government data showed Wednesday. Outbound shipments came to US$43.2 billion in February, up from $35.9 billion tallied a year earlier, acco

South Korea's food watchdog said Tuesday that it has ordered the recall of more than 20,000 tons of American grapefruit for containing pesticide residue levels that are above permissible limits. The Ministry of Food and Drug Safety said the grapefruit imported from Voita West, a U

South Korea needs to hike the state pension age to keep its rapid population aging from worsening the financial health of the government-run pension fund down the road, a report showed Thursday.Currently, South Korean subscribers to the state pension fund are entitled to receive payments starting at

A local association of exporters in South Korea on Thursday vowed all-out efforts to boost the country's exports this year, despite what it called many lingering risks at home and abroad."The ongoing political turmoil continues to have a great impact on our economy and exports," said Kim In-ho

Hyosung Vietnam, the local subsidiary of Hyosung Group, has emerged as the core driver of growth of the Group since the late 2000s. Its annual sales revenue sharply increased from KRW6 billion (approx. US$5.24 million) in 2008 to over KRW1 trillion (approx. US$87.4 million) in 2014, generating subst

Seohancare has been a leading manufacturer of a range of orthopedic and neurosurgical implants in Korea since 2005. Seohancare's products have been used effectively for many surgical products.The Company exports 20 medical devices to 30 countries, including Taiwan, Thailand, Australia, Iran, Sau

A growing number of households in South Korea are exposed to debt risks, especially people in their 30s and the elderly, data showed Monday.The number of "marginal households," whose debt-to-disposable income ratio is over 40 percent, came to 1.81 million last year, up 14.7 percent from 1.58 milli

Samsung Group will halt its weekly meeting of top executives for the time being after the group's de facto chief, Lee Jae-yong, was arrested over his alleged role in the presidential influence-peddling scandal, group officials said Monday.Lee, vice chairman of Samsung Electronics who has denied