Don Tapscott, a prominent Blockchain advocate, said Wednesday South Korea's ban on cryptocurrency and its crowdfunding scheme is "heavy-handed regulation" that can hamper innovation and the growth of startups.An initial coin offering (ICO) occurs when firms create their own cryptocurrency and

Global electric power experts and engineers gathered in South Korea on Wednesday to exchange views on the future of the power industry at an exhibition hosted by the state-run Korea Electric Power Corporation (KEPCO).The Bitgaram International Exposition of Electric Power Technology (BIXPO) kicked o

Global electric power experts and engineers gathered in South Korea on Wednesday to exchange views on the future of the power industry at an exhibition hosted by the state-run Korea Electric Power Corporation (KEPCO).The Bitgaram International Exposition of Electric Power Technology (BIXPO) kicked o

Officials from the International Monetary Fund (IMF) will visit South Korea this week to assess its economic conditions and exchange opinions on economic and financial policies, the finance ministry here said Tuesday. During its one-week stay from Wednesday, the IMF delegation will meet with

Samsung Electronics Co. said Tuesday it named new executives to head its business divisions in line with steps to adopt new leadership amid the absence of heir apparent Lee Jae-yong.Samsung said it named President Kim Ki-nam to head the device solutions division, which oversees the company's chi

Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom.Net profit came to 11.1 trillion won (US$9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said

AmorePacific Corp., the country's top cosmetics maker, said Monday its third-quarter net profit plunged 32 percent from a year earlier, due largely to a protracted slump in the domestic market amid a sharp decline in Chinese tourists.Its net income came to 79.8 billion won (US$70.9 million) in t

Air Busan Co., a South Korean budget carrier, said Monday it has begun to offer flights on a route from a provincial airport to Vientiane, Laos, as part of its route diversification efforts.Air Busan began servicing the route from the southern port city of Busan, 453 kilometers south of Seoul, to th

The i30 N TCR, Hyundai Motor Co.'s purpose-built circuit car, beat rivals at the TCR Europe Trophy race held in Italy, the carmaker said Monday.In the circuit event held at the Adria International Raceway from Oct. 27-29, Hyundai's i30 N TCR outpaced such vehicles as the Audi RS3 LMS and Vol

The number of foreigners visiting South Korea declined 23.5 percent to 9.94 million in the January-September period compared to a year earlier, a report by the central bank showed Sunday.Visits by Chinese nationals plunged over 60 percent on-year, as China restricted tour programs amid a diplomatic

Sales of packaged kimchi are expected to grow 9.6 percent in 2017 from a year earlier, on rising demand from single-member households, industry data showed Sunday.According to Daesang Co., a major ready-made kimchi producer, the domestic market for the product is expected to reach 1.39 trillion won

Air passenger traffic in South Korea rose in September as a rise in demand for routes to Japan, Southeast Asia and Europe offset the steep fall in Chinese travelers, government data showed Sunday.A total of 9.02 million passengers used international and domestic flights last month, up 4.7 percent fr

The pace of growth in South Korea's construction investments is set to slow down next year due to stricter lending rules aimed at stabilizing the overheated real estate market, the central bank and local think tanks said Saturday.The Bank of Korea estimated the rate of growth in the country'

As President Xi Jinping rose to China's most powerful leader in decades, South Korean companies are hoping for an improved business environment amid difficult times brought on by the deployment of a U.S. anti-missile system here, industry sources said Saturday.During the weeklong 19th National C

Hyundai Motor Co. said Thursday its third-quarter net profit fell 16 percent, due mainly to sharp declines in China sales amid a diplomatic row over the deployment of a U.S. advanced missile shield system here.In the July-September quarter, Hyundai Motor's net profit fell to 939.2 billion won (U

Korea Aerospace Industries Co. (KAI), the country's sole aircraft manufacturer, has named a former audit and inspection official its new chief executive after its former head stepped down in July over a corruption scandal.KAI held a board meeting on Wednesday to appoint Kim Jo-won, who worked at

Semiconductors are expected to account for a record high of more than 16 percent of South Korea's annual exports this year, data showed Friday.Industry data showed South Korea's export of chips, led by Samsung Electronics Co. and SK hynix Inc., reaching US$70.4 billion in the January-Septemb

South Korean steelmaker POSCO said Thursday its third-quarter profit almost doubled from a year earlier on higher demand for steel products.Net profit for the July-September quarter soared to 907 billion won (US$806 million), up 91 percent from 476 billion won a year earlier, the company said in a s

Samsung Electronics Co. stood as South Korea's most valuable brand, with its brand value almost doubling in five years to US$51.4 billion, according to industry data Thursday.The brand value of Samsung Electronics posted a whopping 12 percent on-year climb this year, marking twofold growth from

South Korean Prime Minister Lee Nak-yon called for expanding economic cooperation with Bulgaria on Wednesday, saying he will put a joint economic committee and an industrial cooperation committee between the two countries into full operation next year.Speaking at a meeting of South Korean businessme