Jeju Air Co., South Korea's biggest budget carrier by sales, said on Nov. 20, 2018 it inked a US$4.4 billion deal for 40 new planes, with the delivery set to begin in 2022.Jeju Air has decided to buy Boeing Co.'s new B737 MAX passenger jets to strengthen its fleet, the company said in a stat
Kakaopay Corp., a South Korean mobile payment platform provider, said on Nov. 20, 2018 that four investment products sold out in just four hours and 20 minutes on the first day of launch.On Nov. 19, 2018, the company said it will launch a new service called Kakao Investment, allowing users to invest
Large companies in South Korea have invested more than 1 trillion won (US$890 million) in startups engaging in the so-called fourth industrial revolution over the past three years, a corporate tracker said on Nov. 21, 2018.A total of 53 large firms invested a combined 1.06 trillion won in 210 ventur
Woori Bank said on Nov. 21, 2018, it plans to boost financial support for midsized companies with high growth potential over the next four years to help them develop technologies and tap overseas markets.Woori, South Korea's third-largest commercial lender, said it will provide those high potent
Samsung Electronics Co. on Nov. 21, 2018 showcased a new lineup of horticulture light-emitting diode (LED) solutions optimized for greenhouses and vertical farming, which can help farmers improve produce quality.The South Korean tech giant said the new products, including white full-spectrum package
Mobile payments at South Korean convenience stores have more than doubled this year thanks to the greater use of smartphones and the expansion of mobile settlement services, a market player said on Nov. 20, 2018.South Korea's top convenience store chain CU said the number of so-called easy mobil
Sales at South Korean duty-free stores rose 28.6 percent on-year last month, industry data showed on Nov. 20, 2018, despite a lingering row between Seoul and Beijing over a U.S. missile defense system.Sales of local duty-free operators came to US$1.44 billion in October, according to the data compil
The bulk of Vietnamese consumers are positive about the design and image of South Korean goods, but many feel burdened by their high prices, a poll showed on Nov. 20, 2018.The survey of 2,000 Vietnamese people, taken by the Ho Chi Minh City office of the Korea International Trade Association (KITA),
The head of Hyundai Group on Monday expressed reservations about any quick resumption of a stalled tour program to North Korea's scenic mountain resort. "At this point, the situation is difficult for the tour program to be resumed within this year, but I think it will be done in the near future
Sales of imported commercial vehicles rose 15 percent last month from a year earlier on increased demand, a local automobile association said on Nov. 19, 2018.The number of newly registered imported commercial vehicles rose to 343 units in October from 298 a year ago, the Korea Automobile Importers
South Korea said on Nov. 19, 2018 that its new satellite launch has been delayed as American rocket company SpaceX requested more time to inspect its Falcon 9. The launch date has been tentatively rescheduled at either Nov. 25, 26 or Dec. 1, the Ministry of Science and ICT said. SpaceX, foun
CJ Cheiljedang Corp., South Korea's top food maker, said on Nov. 19, 2018 it has launched work to expand its lysine factory in Brazil to meet the growing demand for its products in the South American market. The company said additional facilities of the plant, in Piracicaba, located in the south
CJ Cheiljedang Corp., South Korea's leading food manufacturer, said on Nov. 15, 2018 it will sign a deal to buy a U.S. frozen food company for 2.09 trillion won (US$1.84 billion) in its latest move to expand its presence in overseas markets.Under the deal, CJ Cheiljedang will buy an 80 percent s
Mercedes-Benz Korea said on Nov. 15, 2018 President and Chief Executive Dimitris Psillakis has become an honorary citizen of Seoul in recognition of his leadership in the German carmaker's social contribution activities for the local community. The Seoul Metropolitan Government ha
Samsung Electronics Co. held an artificial intelligence (AI) forum in China on Nov. 15, 2018, unveiling its latest semiconductor and display solutions to potential business partners in Asia's No. 1 economy.The South Korean tech giant said around 500 representatives from major Chinese IT firms, s
The chief of Samsung BioLogics Co. claimed on Nov. 15, 2018 that his company didn't intentionally violate accounting rules before listing its stock on the Seoul bourse in 2016 and expressed regret over the financial regulator's ruling.The Securities and Futures Commission (SFC) suspended sha
South Korea's three oil commodity exchange traded funds (ETFs) have chalked up abysmal returns over the past month due to tumbling crude prices, a fund evaluator said on Nov. 16, 2018.The oil-focused funds, which are pegged to crude prices, posted an average return of over minus 15 percent in th
SK E&S Co., a South Korean power generator, said on Nov. 14, 2018 that it will sell a 49 percent stake in Paju Energy Service Co., the operator of a natural-gas power plant near Seoul, to Thai utility EGCO for 885.2 billion won (US$779.1 million). SK E&S Co. said it will use the proceeds from the sa
The government on Nov. 15, 2018 imposed a fine of 9 billion won (US$7.9 million) on Jeju Air Co., South Korea's biggest budget carrier by sales, for carrying lithium ion battery-powered watches. The Ministry of Land, Infrastructure and Transport has finalized the penalty to be slapped on the low
Hyundai Merchant Marine Co., South Korea's largest shipping firm by sales, said on Nov. 14, 2018 that its net loss widened in the third quarter from a year earlier due to unfavorable market conditions. Its net loss reached 166.7 billion won (US$146.7 million) in the July-September period, compar