Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said on Nov. 8, 2018 its third-quarter operating profit fell 35 percent from a year earlier, due to increased costs from its new businesses. Operating income reached 30.7 billion won (US$27.3 million) in the July-Septembe
South Korean online gaming giant Nexon Korea Co. said on Nov. 6, 2018 that it will showcase 14 new games at the country's largest computing game expo, which is slated for later this month. The G-Star Global Game Exhibition, which highlights a wide range of computer and mobile games, while also f
Major South Korean companies' spending on research and development (R&D) rose about 8 percent on-year in 2017, with the top seven firms taking up nearly 60 percent of the total, a state think tank said on Nov. 7, 2018. The combined expenditures by the nation's top 1,000 firms in terms of R&D
Two in 5 executives at South Korea's public corporations have been appointed through political connections without regard to their work capability or professionalism, a report said on Nov. 7, 2018. The report by CEO Score, which tracks corporate management, showed 118 out of the 316 executives a
South Korea's imported vehicle sales jumped 24 percent in October from a year earlier on high demand for new models, industry data showed on Nov. 5, 2018.The total number of newly registered foreign vehicles climbed to 20,813 last month from 16,833 a year ago, the Korea Automobile Importers and
A record number of foreign car brands are expected to sell more than 10,000 units in South Korea in 2018 on their growing popularity among local motorists, industry sources said on Nov. 6, 2018.Given track records during the first 10 months of the year, up to nine foreign car marques are projected t
Samsung Electronics Co. said on Nov. 5, 2018 its 8K-QLED TV won a top mark by Germany-based consumer electronics evaluator Video, which praised the products' resolution, design and convenience.The South Korean tech giant said the German magazine gave a score of 949 points to the Q900R model, the
LG Electronics Inc. said on Nov. 5, 2018 it inked an agreement with E-mart Inc., a retail giant in South Korea, to develop a new type of service robot that can assist shoppers at supermarkets.Under the agreement, the two companies will develop what they call a smart-cart robot that can automatically
The combined sales of South Korea's five carmakers rose 3.8 percent in October from a year earlier on robust domestic sales of new sport-utility vehicles, corporate data showed on Nov. 1, 2018.The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp.
The mediation committee for the dispute between Samsung Electronics Co. and its former employees suffering from work-related illnesses announced the finalized settlement for the two parties, with the plan including compensation of up to 150 million won (US$132,000) per illness.The announcement came
The state-run Korea Electric Power Corp. (KEPCO) is accelerating its overseas presence as part of a move to diversify its portfolio and create new growth drivers, its chief executive said."KEPCO's business model centers on providing electricity in the domestic market and its overseas business h
The global average price of dynamic random-access memory (DRAM) chips fell around 10 percent in October from a month earlier, data showed on Nov. 1, 2018, following an increase in supply from global manufacturers.According to the data compiled by industry tracker DRAMeXchange, the average price of D
South Korea moved down to fifth place in this year's business environment survey, due to low scores in funding and other sectors, a report by the World Bank showed on Oct. 31, 2018.According to the "Doing Business 2018" report, which is based on an annual survey, the country's ranking repr
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces that it has signed an agreement to acquire a controlling stake in South Korean compounder DYM Solution Co. Ltd. The agreement and transaction are subject to all required regul
South Korean companies' equity and debt sales rose 5.3 percent on-month in September, supported by a rise in sales of corporate debts and new stocks, government data showed on Oct. 31, 2018.Local companies raised 14.1 trillion won (US$12.3 billion) through sales of stocks and bonds last month, u
Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of top South Korean conglomerate Samsung, has met Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi and vowed to expand the company's investment in the Southeast Asian country.The top executive left for Vietnam on Oct. 30, 201
Exports of South Korean beer have jumped more than 50 percent so far this year compared with the same months last year, driven by growing popularity in China, data showed on Oct. 31, 2018.Figures from the Agro-Fisheries & Food Trade Corp. (aT) showed exports of US$121 million in the January-Septembe
Luc Donckerwolke, vice president of Hyundai Motor's design center, will be in charge of vehicle designs of Hyundai Motor and its affiliate Kia Motors Corp. from next month, Hyundai Motor Group said on Oct. 29, 2018.The former Lamborghini and Bentley designer will start his new job starting from
Hankook Tire Co., the world's seventh-largest tiremaker by sales, said on Oct. 29, 2018 that its third quarter net profit fell 30.9 percent from a year earlier on increased costs and weak sales.For the three months ending Sept. 30, net profit reached 118.9 billion won (US$104.1 million), down fr
South Korea will host a tourism exhibition in the United Arab Emirates this week to try to attract more Middle Eastern visitors, the state-run tourism agency said on Oct. 30, 2018.The three-day 2018 Korea Culture & Tourism Festival will kick off in the oil-rich capital of Abu Dhabi on Nov. 1, 2018,