Foreign countries' push to restrict imports of South Korean products came to a halt in October in a positive sign for the export-focused economy, a trade body said Friday.No South Korean products were subjected to fresh import regulations in the form of anti-dumping duties, countervailing duties

Local funds investing in subsidiaries of South Korea's top conglomerate Samsung Group have posted returns close to 40 percent this year thanks to a jump in their share prices, a market tracker said Friday.Samsung-focused investment funds with 10 billion won (US$9.1 million) or more under their m

South Korea's retail, restaurant and tourism industries, which have been preparing to attract customers in line with the end of the nationwide college entrance exam, postponed their planned events after the government delayed the test by a week due to a rare magnitude 5.4 quake that struck the c

The number of multicultural marriages between a South Korean national and a foreigner dropped for six years in a row last year, government data showed Thursday.Multicultural marriages fell 7.9 percent on-year to 21,709 in 2016, down 3.4 percent, or 753, from a year earlier, according to the data by

South Korea's finance minister said Wednesday that the government will make efforts to reduce increasing labor costs that small businesses would suffer due to the government-led hike in minimum wage.President Moon Jae-in has pledged to increase the minimum wage to 10,000 won (US$8.98) by 2020, a

Samsung Electronics Co. briefly halted operations of its smartphone production line and had all workers evacuate after a 5.4-magnitude earthquake hit the nearby port city of Pohang on Wednesday.The quake occurred at around 2:29 p.m. some 9 kilometers north of Pohang, according to the Korea Meteorolo

A senior U.S. Chamber of Commerce official called on the governments of South Korea and the United States to "fully and faithfully" implement their open trade agreement for the mutual benefit of all sides.The Korea-U.S. free trade agreement (FTA), referred to as KORUS, went into effect on March 15

South Korean listed firms' dividend payouts to foreign investors jumped more than 20 percent in the first nine months of the year due mainly to increased earnings, central bank data showed Thursday.Local listed companies paid foreign investors US$14.09 billion in dividends in the January-Septemb

The Korea Aerospace Industries (KAI) has received maintenance order of the U.S Air Force's F-16 (Fighting Falcon) jets, proving its global aerospace MRO (Maintenance, Repair & Overhaul) capabilities.KAI announced on October 31 that it has concluded a US$48.8 million contract with the U.S. Air Fo

Kim Jo-won, new President and CEO of Korean Aerospace Industries (KAI), said in an inaugural speech that the company will push for innovation across its business to ensure sustained growth. He stressed that KAI is determined to grow into a global top-tier aerospace company based on innovation and gr

Cosmax Co., a South Korean cosmetics maker, said Monday it has acquired a U.S. company for US$50 million to expand its foothold in the North American market.The Korean company said it signed a contract earlier in the day to buy all of NuWorld Beauty.Cosmax is the country's leading original desig

The estimated revenue of South Korea's customs authorities is projected to more than double next year due to a surge in licensing fees for duty-free shops, a report said Monday.According to the report by the National Assembly and related government agencies, the Korea Customs Service's estim

The minor opposition Bareun Party picked its former presidential candidate, Rep. Yoo Seong-min, as its new leader on Monday in an election overshadowed by internal division, mass defections and its reduced presence in parliament.The economist-turned-lawmaker secured 56.6 percent of the vote, beating

Local household appliances company Dongbu Daewoo Electronics said Monday it sold 32,000 of its wall-mounted mini washing machines in China during the Singles' Day shopping festival.The washers sold out in 17 hours through Chinese online shopping malls including JD.com, suning.com and T-mall, mea

The U.S. International Trade Commission (ITC) made a preliminary judgment last week that unfairly traded imports of polyethylene terephthalate (PET) resin from South Korea and four other countries are causing injury to U.S. producers.In a statement released by PRNewswire on Wednesday, the ITC made t

A labor union at LG Household & Healthcare said it decided on Friday to end its strike over the salary increase issue on the 52nd day of the walkout.Around 400 union members have set up tents outside the company's headquarters in downtown Seoul since Sept. 23, following the start of the strike o

South Korea and the United States will conduct a massive joint naval exercise involving three U.S. aircraft carriers off the eastern coast Saturday in an unprecedented show of force aimed at deterring North Korea.It marks the first time for three U.S. aircraft carriers to conduct joint exercises wit

Hanwha Chemical Corp., a major chemicals firm, said Friday that its third-quarter earnings soared 25 percent from a year earlier on widened margins and gains from equity ties with affiliates.Net profit reached a record 252 billion won (US$226 million) in the July-September period, compared with a pr

Hyundai Merchant Marine Co., South Korea's top shipping firm, said Friday that it continued to suffer an operating loss in the third quarter of the year due to increased fuel costs and still lower freight rates but that it successfully narrowed the loss from a year earlier on cost-saving efforts

BMW Group Korea said Thursday it has voluntarily suspended the sale of its seven models in the wake of a South Korean government probe into the carmaker's failure to submit documents for vehicle certification.BMW's voluntary sales suspension comes after the Korea Customs Service (KCS) found