South Korea's producer prices rose to a four-year high in August as an unprecedented heat wave hurt the farming sector, central bank data showed Friday. The producer price index, a barometer of future consumer inflation, reached 105.43 last month, up 0.5 percent from a month earli
Value added network (VAN) operators in South Korea saw their earnings drop nearly 6 percent in the first half of the year due to increased costs of replacing credit card readers and terminals, the financial watchdog said Thursday.The combined net profit of 13 VAN operators came to 91.6 billion won (
South Korea's parliament is set to hold a plenary session Thursday to vote on key bills, including a proposal aimed at easing nonfinancial firms' ownership cap in Internet-only banks. The National Assembly is scheduled to convene at 2:00 p.m. to deliberate on a set of bills on
By Vice President Park Byung-wook with Reporter Sua Kim This is the third installment in a series articles on leading business conglomerates in Korea and around the world covered by the writer, a specialist in the business world in Korea and outside the world. Park was formerly the di
Railway systems that run through the Korean peninsula to the Eurasian continent, if built, would help boost the economy of countries in the region, government officials and economists said Tuesday. At the 2018 KITA-CSIS Reconnecting Asia Conference, held in Seoul, South Korean governm
Nineteen out of South Korea's top 500 companies have remained in the black since 2000, with 11 of them reporting double-digit operating margins, a corporate tracker said Wednesday. The 19 companies registered quarterly operating income for 74 straight quarters from the start of th
Kakao Corp., the operator of South Korea's No. 1 mobile messenger KakaoTalk, kicked off its "unsend" feature that allows users to delete missent messages on its messaging app. on Sep 18.Users can delete mistakenly sent messages, photos, videos or emoticons, whether they were read or not by the
South Korea tech giant Samsung Electronics Co. has ranked seventh in global brand based on marketing consultancy Prophet's annual brand relevance survey, industry sources said Monday.Samsung's ranking is up three notches from last year and the highest among non-American brands. Samsung has a
South Korea's largest auto parts maker Hyundai Mobis said Sunday that it plans to make full use of 3-D mobile game software in the development of its autonomous driving system.One of the flagship companies of Hyundai Motor Group said using real, high-definition video game images to create all ki
The state-run Industrial Bank of Korea (IBK) said Friday it has signed a business tie-up agreement with a Polish bank to support South Korean firms operating in Poland and gain a foothold in the European country.The comprehensive deal with PKO Bank Polski SA calls for providing financing for small a
Hyundai Motor Group, South Korea's biggest carmaker by sales, on Friday named the group's heir apparent as its executive vice chairman amid growing uncertainties in the global automobile market.Chung Eui-sun, 49, as the executive vice chairman, will assist his father and the conglomerate'
South Korea's major credit card firms saw their combined earnings spike nearly 51 percent in the first half thanks to increased card usage and greater income from credit card loans, the financial regulator said Thursday.The combined net profit of eight card issuers, including Shinhan Card Co., S
South Korea will draw up a comprehensive road map on developing the hydrogen industry by the end of the year to foster the emerging sector and reduce air pollutants, the industry ministry said Wednesday.The Ministry of Trade, Industry and Energy said it will set policy goals for hydrogen technology
South Korea's chief economic policymaker said Wednesday that the government will make all-out efforts to improve the country's dismal job market as a dramatic upturn in employment is unlikely in the near future.His remarks came as the number of employed people reached 26.9 million in August,
South Korea's finance ministry said Wednesday that it sold 660 billion won ($585 million) worth of 50-year Treasury bonds to meet demand from institutional investors.The ministry said the state debt was sold at a rate of 2.09 percent, adding that the amount was raised due to strong demand. Earli
Vietnam's VinFast Trading and Production Ltd. said it has a signed an initial agreement with LG Chem Ltd., South Korea's biggest chemical company by sales, to receive batteries for its electric scooters and electric cars.LG Chem will also supply batteries for electric buses, smartphones and
South Korea business executives are expected to accompany President Moon Jae-in on a trip to Pyongyang next week to explore potential deals going forward, corporate sources said Monday.South Korean President Moon Jae-in is scheduled to meet North Korean leader Kim Jong-un in Pyongyang from Sept. 18-
South Korea's exports spiked 14 percent on-year during the first 10 days of September due largely to a rise in shipments of chips, petrochemical goods and auto parts, customs data showed Tuesday.The country's outbound shipments reached US$14 billion in the September 1-10 period, according to
CJ Cheiljedang Corp., South Korea's leading processed food-maker, is pushing to expand exports of traditional Korean sauces to fast growing halal and other overseas markets.The affiliate of food and entertainment giant CJ Group said the company is in the final stage of its three-year joint resea
Samsung Electronics Co. has launched its sixth artificial intelligence (AI) research center, located in New York, which will focus on robotics research, the company said Sunday.The tech giant is seeking to strengthen its AI capabilities and has opened research institutes in South Korea, Britain, Can