It's been a decade since Paul Bassett debuted in the South Korean coffee market with a focus on specialty coffee, and much of its success owes to a "positive evolution" in the local coffee culture, the Australian barista who gave his name to the brand says.Paul Bassett said his decision to joi

Korean Air Lines Co. said Wednesday it has signed a deal to purchase 30 B787 passenger jets to enhance its fleet, with the delivery set to begin next year.Korean Air signed a memorandum of understanding with Boeing to purchase 20 B787-10 planes and 10 B787-9s at the 53rd International Paris Air Show

South Korean shipbuilders and carmakers are set to report improved earnings this year on rising demand for high-end ships and SUVs, a major business lobby said Monday.Shipbuilders will benefit from rising demand for liquefied natural gas carriers and environment-friendly ships due to the Internation

South Korea and Sweden have signed six memorandums of understandings (MOUs) to expand trade and cooperation in emerging industries, the government said Saturday.The MOUs were signed in line with President Moon Jae-in's visit to Sweden on the last leg of his eight-day Northern Europe trip that al

The number of employed men in their 40s shrank at the fastest pace in 27 years last month, attributable to the declining population and lackluster local manufacturing industry, government data showed Sunday.The number of employed males aged between 40 and 49 stood at 3.83 million in May, shedding 11

In what could be a drastic shift from his earlier commitment to standing pat, the head of South Korea's central bank on Wednesday hinted at an easing policy as the trade tension between the United States and China underscores the woes of Asia's fourth-largest economy.Bank of Korea Gov. Lee J

Air transportation leaders from across the world will gather in Seoul to discuss ways to stay profitable and tackle headwinds facing airlines at the upcoming annual meeting of the International Air Transport Association (IATA) this weekend, the global airlines body said Wednesday.More than 1,000 lea

Unemployment rate in South Korea's southeastern industrial city of Ulsan rose sharply in the first quarter of the year. The result of such sharp increase was due to the massive corporate restructuring moves.For the period January-March, the unemployment rate in Ulsan stood at 5.3 percent, 1.5 pe

South Korea's industry ministry pledged Tuesday to bolster efforts to upgrade the competitiveness of the country's key industrial sectors by expanding research and development efforts and easing regulations.The Ministry of Trade, Industry and Energy announced a set of measures to spur innova

South Korea's exports jumped 7.1 percent in October from a year earlier on the back of strong demand for semiconductors, ships and petrochemical products, government data showed Wednesday.Outbound shipments came to US$45 billion for October, up from $41.9 billion tallied a year earlier, accordin

By John Kim, The Korea Post reporterAmbassador Albergo Necco Tello of Peru in Seoul said, “One of the biggest opportunities that we can offer international investors is participation in infrastructure projects and Peru has been catching up a lot over the past few decades in terms of economic growth

South Korea's economic recovery momentum remains feeble as weak domestic demand such as private consumption offset strong overseas sales, a government report said Friday."The South Korean economy has been maintaining an upturn pace on the back of brisk exports and recovering global demand, but

The U.S. Federal Reserve raised key interest rates by 0.25 percentage point Wednesday, and said it plans to reduce its securities holdings, a move that could spur rates to rise further.The Fed raised the target range for the federal funds rate from 1 to 1.25 percent, a level that's on par with S

Leading retailers are planning more hirings this year in step with the new government's emphasis on jobs and employment stability, industry watchers said Wednesday.Lotte Group, which owns a chain of department stores and supermarkets, hired 13,300 new employees last year. It said it will try to

Local egg prices were rising again with the country yet to stabilize the market following the latest outbreak of bird flu, officials said Thursday.The Korea Agro-Fisheries & Food Trade Corp. said a carton of 30 eggs was priced at an average of 8,027 won (US$7.17) as of Wednesday, up 61.3 percent fro

South Korea's credit card spending jumped nearly 14 percent in March from a year ago on higher oil prices and a rise in the number of outbound travelers, data showed Wednesday.Credit card purchases totaled 66.4 trillion won (US$59.5 billion) in March, up 13.7 percent from the same month a year e

South Korea's new Moon Jae-in government will push to introduce a cap on household debt to prevent it from rising further and thus straining Asia's fourth-largest economy, a chief adviser to the president said Monday.The Moon administration will place restrictions on total household indebted

Samsung Electronics Co., the world's leading maker of smartphones and memory chips, ranked No. 1 among companies people want to work for in Brazil and Russia, industry sources said Sunday.The findings by Top Employers Institute, a global agency that evaluates personnel management strategies of c

South Korea's business promotion agency said Sunday that it hosted a meeting with Malaysia's trade minister to discuss ways to expand bilateral business cooperation and investment opportunities. The gathering in Seoul on Friday created an opportunity for local companies to get information fr

South Korean Trade Minister Joo Hyung-hwan on Friday asked his Malaysian counterpart to help South Korean firms join a high-speed rail link project between Malaysia and Singapore.Joo and his Malaysian counterpart, Mustapa Mohamed, held talks in Seoul earlier in the day during which they discussed a