The duty-free unit of Shinsegae, a major retailer here, said Thursday it will provide a membership service for users of WeChat, China's leading messaging app, as it attempts to expand its presence overseas.Shinsegae Duty Free said it will provide various shopping information and discounts for th

The restaurant business was somewhat stunted in the third quarter this year but is expected to improve in the fourth quarter, mostly for those that serve foreign food, a sentiment survey showed Friday.The Korea Restaurant Business Index, released jointly by the Ministry of Agriculture, Food and Rura

CJ Cheiljedang Corp., South Korea's leading food manufacturer, said Wednesday its net profit rose 17.6 percent in the third quarter from a year earlier on the back of brisk sales of its processed food products.Net income came to 263 billion won (US$236 million) on a consolidated basis in the Jul

The South Korean economy seems to be on a moderate recovery path on the back of brisk overseas sales and improving private consumption, a state-run think tank said Tuesday."The Korean economy continued to improve driven by exports and the manufacturing industry," the Korea Development Institute (K

Two prosecutors have been arrested for interfering in a prosecution investigation into the spy agency's alleged political meddling under the Lee Myung-bak government, a Seoul court said Tuesday.The Seoul Central District Court issued warrants for Chang Ho-joong, former chief prosecutor at the Bu

South Korea's three leading retailers have submitted their bids to run a duty-free business at an airport on the country's resort island of Jeju, its operator said Monday, amid signs that Chinese tourists may return in force.Lotte Duty Free, Shilla Duty Free and Shinsegae DF applied to opera

SK Holdings Co., the holding firm of South Korean energy and telecoms conglomerate SK Group, said Monday that it has decided to invest a combined US$60 million in two North American fashion brands in a bid to diversify its revenue sources.SK Holdings said it will make the investment in Canada-based

SK Telecom Co., South Korea's top mobile carrier, said Monday its third-quarter net profit more than doubled from a year earlier, helped by gains from equity ties with chipmaker SK hynix Inc.Net income reached 793 billion won (US$710 million) in the July-September period, compared with a profit

Hankook Tire Manufacturing Co., the world's seventh-largest tiremaker by sales, said Monday its third-quarter net profit fell 11 percent on higher raw materials costs.Net profit for the three months that ended Sept. 30 fell to 184.88 billion won (US$166 million) from 207.56 billion won a year ea

South Korea's top economic policymaker said Friday that the upcoming PyeongChang Winter Olympics will be a boon for the country's tourism industry, coupled with recent improvement in relationship with China."Tourism is an important industry that creates more jobs than other sectors," Finan

Paris Baguette, South Korea's leading bakery franchise, has filed for an injunction against the labor ministry over its order to directly hire the bakers at its stores, company officials said Friday.In September, the Ministry of Labor and Employment ordered Paris Baguette to recruit 5,378 employ

South Korea's focus on renewable energy, such as solar and wind power, will drive growth in the country's renewable sector as a whole, according to a global rating agency.President Moon Jae-in has vowed to reduce the country's reliance on nuclear and coal-powered generation, while boosti

The ruling Democratic Party (DP) on Friday proposed a policy dialogue body with two minor parties, as it strives to win their support in enacting its legislative goals, including retooling the tax code.Woo Won-shik, the DP floor leader, made the proposal hours after his counterparts from the People&

The number of temporary workers in South Korea rose slightly this year from 2016, with its percentage also gaining ground, government data showed Friday.A total of 6.54 million workers were non-regular workers, part-timers and outsourced laborers as of August 2017, up 1.5 percent, or 98,000, from a

The head of South Korea's antitrust watchdog urged local business heavyweights Thursday to put more effort into achieving fair competition and coexistence with smaller companies and regaining public confidence."I know our businesses have tried to make changes and helped smaller companies share

Doosan Infracore Co., South Korea's top construction equipment maker, said Thursday that its third-quarter earnings more than doubled from a year earlier on the back of increased sales in emerging markets such as China.Net profit reached 77.2 billion won (US$69.3 million) in the July-September p

GS Group, a South Korean energy and construction conglomerate, is looking to India as it seeks new business opportunities in the rapidly growing market, it said Thursday.In an executive meeting held in New Delhi from Wednesday to Thursday, GS Group Chairman Huh Chang-soo said India's domestic ma

Police said Thursday they requested an arrest warrant for Hanjin Group Chairman Cho Yang-ho for the second time over suspected fund misappropriation for his home renovation.Cho, who doubles as CEO of South Korea's top airline, faces allegations that he siphoned off 3 billion won (US$2.7 million)

The state-run Korea Electric Power Corp. (KEPCO) has looked into the potential for a power grid project in Northeast Asia encompassing South Korea, Japan, China and Russia, and concluded that it is feasible if the countries work together, the utility company's chief executive said Thursday."We

South Korea's five carmakers said Wednesday their combined sales fell 10 percent on-year last month due to fewer working days and weak demand.The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a combined 690,326