South Korea's corporate watchdog said Sunday that it has levied a total of 20 billion won (US$17.9 million) in fines on seven water-related engineering firms for cartel-like activities. The Fair Trade Commission (FTC) said Water Resources Engineering Corp. and six other firms colluded fo

Samsung Electronics Co. said Friday its second-quarter operating profit advanced 5.19 percent from a year earlier, but it failed to post record-breaking earnings apparently due to weaker-than-expected smartphone sales.Operating profit for the three-month period came to 14.8 trillion won (US$13.2 bil

Employees at Asiana Airlines Inc. gathered in central Seoul late Friday to stage a candlelight vigil denouncing the firm's top management for massive in-flight meal service disruptions that resulted in the suicide of the head of a caterer's supplier.The latest rally follows two similar demon

South Korea's consumer price growth continued to stay above 1 percent in June on a rise of agricultural goods and the service sector, government data showed Tuesday.The country's consumer price index climbed 1.5 percent last month from a year earlier, the same pace from the previous month

Companies in all business sectors will be allowed to use their movable assets as collateral for loans from late August, an industry association of banks said Friday, in the latest effort to help smaller firms secure funds.The Korea Federation of Banks said it revised its guidelines on movable assets

South Korea ranked 49th among 114 countries in its shift from fossil fuels to sustainable clean energy, a recent report by the World Economic Forum (WEF) showed Thursday.South Korea scored 56 points out of 100 in the Energy Transition Index (ETI), the WEF's energy benchmark based on energy secur

South Korea's consumer confidence dropped sharply to a 14-month low for June as sluggish job data and an intensifying U.S.-China trade row discouraged people here, central bank data showed Tuesday.The composite consumer sentiment index (CCSI) for this month stood at 105.5, down 2.4 points from t

Hyundai Rotem Co., a railway systems affiliate of Hyundai Motor Group, said Tuesday it has received a 542.4 billion won (US$486 million) order to build 80 train cars in Taiwan. The subway train cars equipped with an unmanned operating system will be produced at Hyundai Rotem's plant in S

candidate for the position of new chairman to lead the world's fifth-biggest steelmaker, an official said Saturday.The steelmaker's board of directors made the decision earlier in the day, POSCO spokesman Kang Min-suk said.Choi is subject to approval at an extraordinary shareholders' mee

South Korean shares are expected to remain in a relatively tight range next week as investors take to the sidelines amid global trade tensions, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,357.22 points on Friday, down from 2,404.04 points a week earlier

South Korea's exports engine is sputtering out, as signaled by an increasing number of companies with slim profits and growing global trade protectionism, a report from a local economic research agency said Wednesday.The report from the Korea Economic Research Institute (KERI) cited five signs t

Local banks are increasing their assets mostly through loans, especially those to households that are home-collateralized, an analysis report from the Financial Supervisory Service (FSS) said Tuesday.The report, which tracks asset management by banks since the global financial crisis of 2008, said t

A small amount of coolant leaked from a nuclear reactor in the southern part of South Korea, but no significant radiation leakage was reported, the plant's operator said Tuesday.A total of 3,630 kilograms of the coolant, 1.7 percent of the total, was leaked from the Wolseong-3 reactor located in

Retail fuel prices in South Korea rose for the seventh consecutive week despite a fall in global crude oil prices, data showed Saturday.The average gasoline price was 1,609.7 won (US$1.49) per liter nationwide in the first week of this month, edging up 4.7 won from a week earlier, according to the d

South Korea will seek drastic deregulation and provide support to foster innovative growth, the country's finance ministry said Friday.Under a set of support measures unveiled earlier, the government will provide funding and other incentives to eight key sectors such as smart farms, smart cities

South Korea's industry minister called on China to fairly conduct an antitrust probe into two Korean chipmakers as regulators are reportedly looking into their alleged price fixing, his office said Tuesday.Paik Un-gyu, South Korean minister of trade, industry and energy, made the request during

The world's automotive semiconductor market is expected to grow nearly 20 percent this year on rising demand for automated driving systems, a report said Saturday.The global chip market for vehicles is estimated to reach US$32.3 billion in 2018, up 18.5 percent from a year earlier, according to

South Korean shares are expected to remain in a relatively tight range next week as investors take to the sidelines amid global trade tensions, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,438.96 points on Friday, down 0.89 percent from a week ago.

South Korea's economy grew at a slower-than-expected pace in the first quarter from three months earlier on sluggish construction and facilities investment, central bank data showed Friday.The country's gross domestic product (GDP) expanded 1 percent in the January-March period, rebounding f

By Publisher Lee Kyung-sik with Choe Nam-suk, Ms. Sua KimIncheon National University (INS) is obviously in good hands, President Cho Dong-sung in particular, and this was immediately apparent at a meeting with ambassadors and other senior diplomats who visited and toured various facilities of the Un