South Korea's employment agency said Saturday the combined amount of unemployment benefit handed out to job seekers jumped more than 20 percent in the January-May period of 2018 from a year earlier.Unemployment benefit paid to local job seekers over the first five months of this year came to 2.6
South Korea will continue to lead in the global memory chip industry and China will have limited impact, at least over the next couple of years, Moody's Investors Service said Saturday.As the world's largest consumer of semiconductors, China has made a heavy investment in the sector in order
Local dealers of Porsche vehicles filed a compensation suit against the importer of the luxury cars for monetary losses incurred from suspended sales due to emissions test rigging, a law firm said Friday.Forty-seven salesmen hired by Stuttgart Sports Cars Ltd (SSCL), the official importer of Porsche
Samsung Heavy Industries Co., a major South Korean shipbuilder, said Friday that it has clinched a US$240 million deal to build two special-purpose ships for a European company.The shipbuilder said it is set to deliver the vessels to the client by 2021. Samsung Heavy declined to identify its client
Korean Air Lines Co. said Friday that one of its jets suffered a landing gear breakdown and was forced to stop on the taxiway at Japan's Narita International Airport.The incident happened around 12:35 p.m. when a B777-300 was moving on a taxiway to pull into a gate after making a normal landing
Koo Kwang-mo, the son of LG Group's late Chairman Koo Bon-moo, became a board member of the holding firm and its CEO on Friday, effectively becoming the fourth-generation leader of the family-controlled conglomerate.Koo, who was adopted by the late business tycoon so as to fulfill the LG family&
POSCO Daewoo, an energy unit of POSCO, has signed a contract for KW300 billion (US$267 million) with a consortium of US firms to develop a new gas block in Myanmar.According to Yo-han Choi of the Communications Department of the company, on June 27, POSCO Daewoo signed the deal in Washington Wednesd
Samsung Electronics Co. on Thursday sent out an official invitation for the showcase event for its upcoming flagship phablet, presumably the Galaxy Note 9.The South Korean tech giant said it will host an "Unpacked" gathering on Aug. 9, 2018, at New York's Barclays Center.The date is some two w
LG Foundation, a charity organization under the South Korean conglomerate LG Group, said Wednesday it will expand the scope of its existing education program for bilingual students amid the rise of international marriages in the country. LG said it partnered with the education ministry and H
Hanwha Precision Machinery Co., Ltd. (CEO Yeon-cheol Kim) conducted a partnership day on June 21 in Munich, Germany, to sign contracts with six European distributors. Hanwha Precision Machinery Development Overseas Sales/Marketing Representatives, including Dr. Woo Sok Chang and Head of Robotics Bus
The number of feature phone users in South Korea fell below the 7-million mark as of April, government data showed Tuesday, as smartphones continue to solidify their hold on the local market.According to the data compiled by the Ministry of Science and ICT, there were 6.9 million users of feature ph
Hyundai Heavy Industries Co. said Friday it will suspend work at its offshore facilities shipyard in August as orders have dried up, marking the latest setback for the world's biggest shipbuilder."We will halt operations till we secure offshore orders," Hyundai Heavy President and CEO Kang Hwa
POSCO, the state-run Korea Development Bank (KDB) and shipping companies have signed a business tie-up to install desulfurizers in the bulk ships that transport coal and iron ore to the South Korean steelmaker, POSCO said Friday.In its Seoul office, POSCO signed a tripartite agreement with KDB and s
South Korea's finance ministry said Friday that it will seek to expand cooperation with a China-led infrastructure development bank, which will help more Korean firms participate in the lender's projects.During the Asian Infrastructure Investment Bank (AIIB)'s annual meeting in Mumbai fr
Daewoo Shipbuilding & Marine Engineering Co., the world's second-largest shipbuilder by orders, said Thursday it has clinched a deal to build a liquefied natural gas carrier for a Greek shipping company. The shipbuilder said it is set to deliver the carrier that can hold 173,400 c
Samsung Electronics Co. said Thursday it released a new solid-state drive (SSD) designed for data centers with a storage capacity of a whopping 8 terabytes (TB).The South Korean tech giant said it the 8TB NF1 NVMe SSD boasts the highest performance using the Next Generation Small Form Factor (NGSMFF
The head of Jin Air Co. has quit over allegations that he forced a pilot to go ahead with a flight last year despite an engine problem.The budget carrier unit of Korean Air Lines said Kwon Hyuk-min resigned on Tuesday for personal reasons.The resignation came four weeks after employees of Korean Air
Hyundai Motor Co. released the high-performance Veloster N hatchback in South Korea on Wednesday, which is the first automobile to be released at home with the distinct "N" badge.The Veloster N is equipped with a 2.0-liter turbo engine that delivers an impressive 275 horsepower and 36 kilogram-for
Six South Korean startups from Campus Seoul, the first Asian campus set up by U.S. Internet giant Google Inc., have attracted investment worth 2.8 billion won (US$2.5 million) during the first half of this year, the company said Wednesday.The campus, which opened in May 2015 in the posh Gangnam dist
Samsung Electronics Co., which released its Galaxy S9 smartphone earlier this year, is carrying out various marketing programs around the globe to bolster weaker-than-expected sales of its flagship device, industry watchers said Wednesday.The South Korean tech giant joined forces with Ya Ge, a popul