Samsung Electronics Co. was ranked fourth in research and development (R&D) spending by chipmakers last year, according to market data on Monday.Samsung spent US$2.88 billion in R&D activities in 2016, up 11 percent from 2015, the data by market researcher IC Insights showed.Intel Corp. came first w
The corporate reputation ranking of Samsung in the eyes of American consumers plunged 42 spots to 49th in 2017, according to an annual survey on Monday.The sharp drop in the survey by The Harris Poll on corporate brands came as Samsung is struggling with the global recall of the Galaxy Note 7 smartp
South Korea's leading carmakers Hyundai Motor Co. and Kia Motors Corp. dominated the Israeli car market in 2016, beating Toyota Motor Corp. and other Japanese rivals, industry data showed Sunday.Hyundai, South Korea's top automaker and flagship of Hyundai Motor Group, sold 39,086 units in Is
KB Kookmin Bank, a major South Korean bank, has signed a memorandum of understanding with Myanmar's Construction Ministry and its state-run Construction and Housing Development Bank, KB Financial Group said Friday.Under the deal, KB Kookmin Bank plans to provide financial support to Myanmar'
Lee Jae-yong, Samsung Group's de facto leader, was formally arrested Friday on charges of bribery in connection with a high-profile corruption scandal surrounding President Park Geun-hye and her friend.With the Seoul Central District Court issuing the arrest warrant, Lee, vice chairman of Samsun
South Korea's aircraft finance sector is likely to grow this year, industry officials said Thursday, amid increased demand from air traffic passengers.Yoo Byung-soo, who handles aircraft finance at KTB Investment & Securities, said he expects the country's aircraft finance market to reach be
Sales of imported luxury cars continued to grow despite a sharp drop in overall sales of imports last year, industry data showed Thursday, reflecting an apparent economic polarization among local consumers.In 2016, the number of newly registered foreign-made vehicles each priced over 100 million won
The Hyundai Ioniq electric vehicle has been named the greenest car in the United States, beating its global rivals the BMW i3 and the Toyota Prius Eco, the South Korean manufacturer of the car, Hyundai Motor Co., said Wednesday.The Ioniq Electric topped a list of environmentally friendly vehicles so
The first batch of 120 Kenbo 600s, a Chinese sport utility vehicle (SUV), sold out in South Korea, about one month after the vehicle debuted here, the Chinese car's local importer said Wednesday.China-Korea Motor Co., the local importer and distributor of the Chinese vehicle, unveiled the Kenbo
South Korean shares traded higher late Wednesday morning, tracking overnight gains on Wall Street after Federal Reserve chief Janet Yellen voiced a positive outlook of the world's largest economy.The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.91 points, or 0.43 percent, to 2,083.
South Korea announced a package of measures Wednesday to utilize information and communications technology (ICT) and science technology to revitalize the country's economy suffering from weak exports and flagging manufacturing sector.Under the measures discussed in a meeting presided over by Act
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, is looking at a slew of options to deal with massive debt due in April, its chief said Wednesday, brushing off concerns that the cash-strapped shipbuilder may fail to pay off the maturing debt.The shipyard should pay off
South Korea's exports of information and communications technology (ICT) products rose for the third consecutive month in January on the back of brisk overseas sales of semiconductors and displays, government data showed Wednesday.ICT exports reached US$13.83 billion last month, rising by a near
A total of 433 imported trucks were sold in South Korea last month, industry data showed on Tuesday.According to the data compiled by the Korea Automobile Importers and Distributors Association (KAIDA), Volvo topped the list with a total of 184 trucks sold, followed by 112 vehicles from MAN, 75 from
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, has to pay off or refinance up to 1 trillion won (US$869 million) worth of debts that mature this year, but the shipbuilder's financial status is not good enough to deal with the situation amid the dearth of new order
Genji, Millennium Seoul Hilton’s Japanese restaurant, is pleased to offer a special Kaiseki meal showcasing succulent snapper, available only during the month of February. Kaiseki are traditional multi-course meals that are the Japanese equivalent of Western haute dining. Dishes are artfully present
The de facto leader of Samsung, South Korea's largest business group, was quizzed for a second time Monday on charges of bribery, as special prosecutors here accelerated their probe into an influence-peddling scandal centered on President Park Geun-hye.Lee Jae-yong, vice chairman of Samsung Elec
The unemployment rate for young people in South Korea rose sharply last year to surpass that of the United States for the first time in 16 years, data showed Sunday.The jobless rate for those aged between 15 and 24 reached 10.7 percent in 2016, up from the previous year's 10.5 percent, according
South Korean health authorities on Friday decided not to compensate a Seoul hospital for losses incurred by the temporary shutdown due to the Middle East Respiratory Syndrome (MERS) in 2015, citing the hospital's violation of relevant laws and protocols.A medical compensation committee under the
The head of LG Electronics' smartphone division purchased some 117 million won (US$101,900) worth of company stocks this week, the company said in a regulatory filing Friday, a move market watchers say is meant to show his confidence in the new smartphone to be unveiled later in the month.Cho Ju