South Korea officially announced the start of free trade agreement (FTA) negotiations with the Philippines on Monday as part of efforts to strengthen economic ties with the Southeast Asian country.During a meeting here, Trade Minister Yoo Myung-hee and her Philippine counterpart Ramon Lopez set the
The International Air Transportation Association held its 75th annual general meeting in Seoul on Sunday as global aviation leaders gathered to discuss ways to stay sustainable and tackle challenges in the industry. The event, attended by more than 800 guests from 290 airlines in 120 countries, was
By Mehmet Fatih OztarsuThe following are details of an interview with Director Ferit Temur of LaBiance Event Agency.--EdQuestion: Could you give us some information about LaBiance?Answer: LaBiance was created by a highly educated team of individuals with 15 years of international experience using an
South Korea's listed firms saw their financial health worsen in the first quarter of the year, data showed Monday, amid an economic slowdown.The average debt-to-equity ratio of 640 companies listed on the main KOSPI bourse, came to 110.7 percent as of end-March, sharply up 6.37 percentage points
South Korea's output in the information and communication technology (ICT) industry rose 5.4 percent in 2018 from a year earlier to reach an all-time high, data showed Sunday.The record-high output of 497.3 trillion won (US$418.6 billion) comes on the back of strong overseas demand for semicondu
Exports of South Korean pharmaceutical goods reached a record-high last year as the country set sights on the sector as a new growth engine for the country, data showed Sunday.The country's pharmaceuticals exports amounted to US$3.72 billion last year, with an annual growth rate of 21.1 percent
Tensions are mounting ahead of Hyundai Heavy Industries Co.'s planned shareholders meeting next week as unionized workers remain staunch in their opposition to the company's split-up plan for a merger with a small local shipbuilder, industry sources said Sunday. Hyundai Heavy
The Korean Aerospace Industries Co. (KAI), the country's sole aircraft manufacturer, said Sunday that it has made a 60-billion won (US$51 million) deal from the Thai Air Force to upgrade T-50TH supersonic trainer jets it delivered. KAI signed a $110 million deal to export four T-50TH in
South Korea's short-term foreign debt hit a 5-year high in the first quarter of the year, although its overall debt level remained flat, the finance ministry said Thursday. The country's total external debt stood at US$440.6 billion in the first quarter, unchanged from a quarter earlier, acc
Lee Jae-yong, vice chairman of Samsung Electronics Co., on Wednesday met with former U.S. President George W. Bush, who is on a visit to South Korea to attend a memorial event for a former leader of the country. Lee and Bush reportedly discussed the rapidly changing global industrial environment dur
Prosecutors on Wednesday sought an arrest warrant for Samsung BioLogics CEO Kim Tae-han as part of their probe into allegations of accounting fraud at the company. Kim is suspected of ordering its employees to destroy evidence related to alleged fraudulent accounting, the Seoul Central District Pros
South Korea's economic growth rate has had the greatest impact on the country's employment level among major macroeconomic variables over the past years, a report showed Wednesday.A 1 percentage-point gain in South Korea's real gross domestic product (GDP) is estimated to have boosted th
Samsung Electronics Co.'s spending on research and development (R&D) hit a near-record high in the first quarter of this year, despite a plunge in earnings, company data showed Friday. The global tech juggernaut's R&D expenditures stood at 5.04 trillion won (US$4.24 billion) in the January-M
Energy-to-telecom conglomerate SK Group has announced to invest US$ 1 billion in Vietnam's leading conglomerate to expand its position in the Southeast Asian market.SK Group stated that they have decided to buy a 6.1 percent stake in Vingroup, which will also resutl in strategic partnership betw
Unionized workers at Hyundai Heavy Industries Co. set out to protest on Thursday against a merger which will result in a split up of the company.The unionized workers began their 4 hour protest at the company's headquarters in Ulsan, approximately 400km southeast of Seoul. They will go ahead wit
LG Chem Ltd., South Korea's top chemicals company, has been chosen to supply EV batteries to Swedish automotive company Volvo Car Group.LG Chem stated that it has successfully signed a multiyear contract with Volvo to supply lithium ion batteries. The batteries will also be used for Volvo’s elec
The chief of Renault Samsung Motors Corp., the South Korean unit of Renault SA of France stated on Wednesday that the Korean R&D center will need to play a key role.Dominique Signora said Renault Technology Korea will play a vital role for the French automotive company under the expansion of Renault
The first quarter net profit fell 13.7% compared to its previous year for Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipbuilder due to a decline in sales.Their balance sheet for Q1 this year states that net profit reached 195 billion won for the period January-March in contr
Dongkuk Steel Mill Co, South Korea's third-largest steelmaker has returned to making profit in the first quarter of 2019. The main reason was due to reduced valuation loss form its Brazilian Steel mill which they have a large amount of stake in.For the period January-March, net profit was 700 mi
Renault Samsung Motors Corp. and its labor union said Thursday they have reached a tentative agreement over wages and working conditions, possibly ending their drawn-out labor dispute that was feared to undermine the automaker.The union said its members will vote on whether to accept the deal on Tue