A record number of foreign car brands are expected to sell more than 10,000 units in South Korea in 2018 on their growing popularity among local motorists, industry sources said on Nov. 6, 2018.Given track records during the first 10 months of the year, up to nine foreign car marques are projected t
Samsung Electronics Co. said on Nov. 5, 2018 its 8K-QLED TV won a top mark by Germany-based consumer electronics evaluator Video, which praised the products' resolution, design and convenience.The South Korean tech giant said the German magazine gave a score of 949 points to the Q900R model, the
LG Electronics Inc. said on Nov. 5, 2018 it inked an agreement with E-mart Inc., a retail giant in South Korea, to develop a new type of service robot that can assist shoppers at supermarkets.Under the agreement, the two companies will develop what they call a smart-cart robot that can automatically
The combined sales of South Korea's five carmakers rose 3.8 percent in October from a year earlier on robust domestic sales of new sport-utility vehicles, corporate data showed on Nov. 1, 2018.The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp.
The mediation committee for the dispute between Samsung Electronics Co. and its former employees suffering from work-related illnesses announced the finalized settlement for the two parties, with the plan including compensation of up to 150 million won (US$132,000) per illness.The announcement came
The state-run Korea Electric Power Corp. (KEPCO) is accelerating its overseas presence as part of a move to diversify its portfolio and create new growth drivers, its chief executive said."KEPCO's business model centers on providing electricity in the domestic market and its overseas business h
The global average price of dynamic random-access memory (DRAM) chips fell around 10 percent in October from a month earlier, data showed on Nov. 1, 2018, following an increase in supply from global manufacturers.According to the data compiled by industry tracker DRAMeXchange, the average price of D
South Korea moved down to fifth place in this year's business environment survey, due to low scores in funding and other sectors, a report by the World Bank showed on Oct. 31, 2018.According to the "Doing Business 2018" report, which is based on an annual survey, the country's ranking repr
Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces that it has signed an agreement to acquire a controlling stake in South Korean compounder DYM Solution Co. Ltd. The agreement and transaction are subject to all required regul
South Korean companies' equity and debt sales rose 5.3 percent on-month in September, supported by a rise in sales of corporate debts and new stocks, government data showed on Oct. 31, 2018.Local companies raised 14.1 trillion won (US$12.3 billion) through sales of stocks and bonds last month, u
Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of top South Korean conglomerate Samsung, has met Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi and vowed to expand the company's investment in the Southeast Asian country.The top executive left for Vietnam on Oct. 30, 201
Exports of South Korean beer have jumped more than 50 percent so far this year compared with the same months last year, driven by growing popularity in China, data showed on Oct. 31, 2018.Figures from the Agro-Fisheries & Food Trade Corp. (aT) showed exports of US$121 million in the January-Septembe
Luc Donckerwolke, vice president of Hyundai Motor's design center, will be in charge of vehicle designs of Hyundai Motor and its affiliate Kia Motors Corp. from next month, Hyundai Motor Group said on Oct. 29, 2018.The former Lamborghini and Bentley designer will start his new job starting from
Hankook Tire Co., the world's seventh-largest tiremaker by sales, said on Oct. 29, 2018 that its third quarter net profit fell 30.9 percent from a year earlier on increased costs and weak sales.For the three months ending Sept. 30, net profit reached 118.9 billion won (US$104.1 million), down fr
South Korea will host a tourism exhibition in the United Arab Emirates this week to try to attract more Middle Eastern visitors, the state-run tourism agency said on Oct. 30, 2018.The three-day 2018 Korea Culture & Tourism Festival will kick off in the oil-rich capital of Abu Dhabi on Nov. 1, 2018,
Samsung Electronics Vice Chairman Lee Jae-yong will head to Vietnam this week on a business trip aimed at checking Samsung's key smartphone production lines amid a decline in its global market share, industry sources said on Oct. 28, 2018.Lee is scheduled to leave on Oct. 25, 2018 and stop at Ha
The number of foreigners on South Korea's corporate board of directors accounts for 1.4 percent of the total, a decline from three years ago as their biggest employer Samsung cut back on such hirings, data showed on Oct. 29, 2018.An analysis by the market researcher Korea CXO Institute counted 9
The Supreme Court on Oct. 29, 2018 finalized an 18-month prison term for a former head of the now-defunct Hanjin Shipping Co. for selling off her family's stake in the firm using insider information.Choi Eun-young, 56, was convicted in December last year of unloading the stakes held by her and h
Insanga, a bamboo salt-specialized manufacturing company, was listed on the KOSDAQ market on Sept. 11, after 31 years since it started its business. In a press conference on its history of KOSDAQ listing and growth held on Sept. 20, President Kim Yoon-se of Insanga, a local company in
True to form the latest Michelin Guide Seoul recommends the best places to eat in South Korea's capital city with posh five-star hotel restaurants to small noodle places being lauded for their culinary excellence and service. Its third edition, which once again demonstrated its love for local cu