The South Korean government and tech giants Samsung Electronics Co. and LG Electronics Inc. plan to discuss ways next week to counter a possible safeguard action by the U.S. against their washing machines, industry sources said Saturday. The move comes as the U.S. International Trade Commiss

South Korean political parties on Thursday emphasized the importance of protecting national interests in Seoul's upcoming talks with Washington to amend their free trade agreement.On Wednesday (local time) in Washington, the two sides agreed to begin a process to amend their trade deal. Their ta

The U.S. International Trade Commission (ITC) determined Thursday that two South Korean companies' washing machines manufactured in foreign countries were harming the U.S. industry.The trade body announced the result of its four-month investigation prompted by a safeguard petition Whirlpool Corp

Imports of Vietnamese beverages have jumped over sevenfold in the past four years as more South Koreans preferred drinks made with tropical fruits, data showed Friday.Asia's fourth-largest economy imported US$250 million worth of beverages last year, down 0.5 percent from a year earlier, accordi

South Korean oil refiners, led by SK Innovation Co., are expected to report stronger-than-expected earnings for the third quarter of the year on the back of good refining margins and solid demand for key products, industry sources said Thursday.The benchmark Singapore complex gross refining margin (

South Korea and the United States agreed Wednesday to begin a process to amend their free trade agreement at Washington's request, Seoul's trade ministry said.The agreement was reached during talks in Washington led by South Korean Trade Minister Kim Hyun-chong and U.S. Trade Representative

South Korea will give priority to national interests in talks over the free trade agreement (FTA) with the United States, Finance Minister Kim Dong-yeon said Monday.The two countries are set to hold a second meeting on U.S. request for the amendment of the five-year-old deal known as KORUS in Washin

South Korea's exports soared 35 percent to reach an all-time high in September thanks to strong demand for semiconductors and displays, government data showed Sunday.Outbound shipments came to US$55.1 billion for the month, up from $40.8 billion tallied a year earlier, according to data compiled

South Korean retail giant Lotte's new holding company officially set sail Sunday, as the business group faces a series of challenges from home and abroad.In August, shareholders of four Lotte affiliates -- Lotte Shopping Co., Lotte Confectionery Co., Lotte Chilsung Beverage Co. and Lotte Food Co

Overseas travelers are 2.7 times more likely to get sick than those taking domestic trips, a think tank report said Saturday.Hyundai Marine & Fire's Traffic, Climate & Environment Research Institute said that from January 2014 through August of this year, 27.6 percent of all South Korean nationa

South Korea's container shipping sector showed signs of recovery this month following a protracted slowdown in the overall shipping industry, data showed Saturday.The business survey index (BSI) of the shipping industry as a whole came to 84 for September, up from 73 the previous month, accordin

A steady rise in gasoline is starting to put pressure on consumer prices as South Koreans take time off for the long Chuseok holiday, market watchers said Saturday.Data by the Korea National Oil Corp. (KNOC) showed that the average price of a liter of gasoline in the fourth week of September rose 6.

South Korea's commerce minister said Tuesday the nation's economic fundamentals remain sound despite North Korea's provocations, and called on foreign enterprises doing business here to increase their investments.Paik Un-gyu, the chief of the Ministry of Trade, Industry and Energy, said

Tesla Motors Inc.'s Model S 90D is eligible to receive government subsidies in South Korea as the country has recently eased regulations involving battery charging time, the environment ministry said Friday.On Thursday, the Ministry of Environment notified the U.S. electric carmaker of its decis

South Korea's exports grew at the fastest pace among the world's top 10 exporters, data by the World Trade Organization (WTO) showed Tuesday, thanks to brisk sales of semiconductors and petrochemical products.Outbound shipments amounted to US$328 billion in the first seven months of this yea

Hyundai Motor Co. has named Lee Kyung-soo the new chief executive of its American unit, a post that had been vacant for nine months, according to the company's website on Saturday.Lee, 61, joined Hyundai in 1982 and most recently served as chief executive of Hyundai Translead, a U.S. affiliate o

South Korea's corporate watchdog is considering launching an investigation into allegations that Asiana Airlines Inc., the country's second-largest air carrier, forced one of its suppliers to buy bonds issued by its holding company, industry sources said Monday.LSG Sky Chefs Korea Co., a loc

South Korea's financial watchdog said Monday it will present comprehensive measures later this month to give permanent jobs to temporary workers currently employed at state-run institutions.The move comes as the Moon Jae-in government is pushing ahead with the implementation of his presidential

The sales of Hyundai Motor Co. and its affiliate Kia Motors Corp. in China declined 39 percent on-year last month amid prolonged diplomatic tension between Seoul and Beijing over the deployment of a U.S. missile defense system, industry data showed Sunday.Hyundai Motor and Kia Motors sold a combined

Lotte Hotel & Resorts said Sunday it opened its second hotel in Russia last week as it seeks to tap deeper into the overseas market. The new hotel opened in Saint Petersburg on Friday. It launched its first Russian operation in Moscow in 2010. Lotte currently operates hotels in the Un