South Korea's permanent representative to the United Nations' Geneva office, Ambassador Choi Kyong-lim, was named chair of the World Trade Organization's Goods Council, according to the council on Saturday.Ambassador Choi will serve as chair of the WTO's Council for Trade in Goods, w

Investments by the country's top 30 conglomerates by assets dropped 18 percent in 2016 from a year earlier, with the top three business groups leading the overall decline, a tally from a corporate tracker showed Tuesday.The 30 business groups, which control 266 affiliates, invested 60.69 trillio

South Korea's top electronics brand Samsung is considered "cool" among young U.S. consumers, an industry report released by Internet giant Google Inc. showed Tuesday.In the study titled "It's Lit: A guide to what teens think is cool," Google conducted a survey on 400 teens aged 13 to 17,

The average earnings forecast for Samsung Electronics Co., one of the world's largest makers of smartphones and computer chips, rose 20 percent in the past three months on strong global demand for its semiconductors and prospects of sustained growth, industry sources said Sunday.According to dat

Whipped by dry weather and strong winds, forest fires occur frequently in Korea these days, according to Korea Forest Service (KFS). During a recent weekend, as many as 42 wildfires were reported nationwide. From January 1 through March 19, 2017, KFS reported 224 forest fires, affecting 118 ha of fo

South Korean manufacturers' business sentiment for next month improved slightly as local companies expect a steady improvement in exports, data by the central bank showed Wednesday.The business survey index (BSI) of manufacturing firms came to 82 in April, up from 81 in March, according to the B

South Korea's economy expanded 2.8 percent in 2016 from a year earlier on increased private and government spending, the country's central bank said Tuesday. The revised expansion is slightly higher than a 2.7 percent gain previously estimated by the Bank of Korea (BOK). In 2015, the

The Sewol ferry has been safely placed onto a semisubmersible ship that will be used to transport it to the port of Mokpo on South Korea's southwestern coast, finishing one of the most delicate operations of the recovery project, the government said Saturday."The vessel was successfully loaded

South Korea's two major shipbuilders -- Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. -- said Friday that they will strive to boost their profitability via increased orders and continued cost-cutting measures.At a shareholders meeting, Park Dae-young, president of Samsung Heavy,

LS Cable & System Asia (LSCS), which emerged as No. 1 cable manufacturer in Vietnam 20 years after foraying into the market, will set up a joint production facility in Myanmar with its subsidiary Gaon Cable. LSCS and Gaon Cable have decided to establish LS-Gaon Cable Myanmar (LSGM) to roll out low v

South Korea's No. 3 mobile carrier LG Uplus Corp. said Thursday it has clinched an agreement with a local ventilator maker to apply its Internet of Things (IoT) technology to the products.LG Uplus said it plans to release two ventilators for restrooms using the technology in cooperation with Him

Samsung Electronics Co. is expected to rack up a market forecast-beating operating income for the first quarter of 2017 helped by its robust performance in the chip business, a local security firm said Tuesday.NH Investment & Securities Inc. said Samsung is forecast to post an operating income of 9.

The chairman of global steelmaker POSCO said Monday his company's donations in 2015 to two foundations controlled by a friend of former President Park Geun-hye were made under pressure from Park's office.Kwon Oh-joon, who has been leading the steelmaker from 2014, made the remarks while atte

South Korea's households are exposed to growing financial risks from mounting debt, weak income growth and high unemployment rates, data showed Monday.The deepening trouble of ordinary people in Asia's fourth-biggest economy contrasts sharply with the government's increased tax revenue a

A groundbreaking ceremony has been held in a Turkish seaport for the construction of the world's longest suspension bridge by an international consortium led by South Korean builder SK E&C, industry sources said Sunday.The ceremony took place on Saturday in Canakkale, Turkey, to coincide with th

A Seoul court will hold the first hearing on the chief of the country's retail giant Lotte Group and his family members this week over a string of corporate crime allegations, legal sources said Sunday.The first hearing on Chairman Shin Dong-bin, his older brother Shin Dong-joo, and their father

South Korean shares are expected to come under selling pressure next week as investors attempt to cash in recent gains to take a breather, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,164.58 points on Friday, the highest in almost two years, aided by a

Creditors of Daewoo Shipbuilding & Marine Engineering Co. are set to announce a set of new rescue schemes next week for the cash-strapped shipbuilder, with many expecting the shipbuilder to be put under a debt workout in the worst case scenario, industry sources said Saturday.According to the source

German Chancellor Angela Merkel praised the free trade agreement between the European Union and South Korea as a win-win deal for both sides as she championed free trade before U.S. President Donald Trump."Any kind of agreement that we have concluded, for example at the very latest with South Korea

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