A private think tank Wednesday urged the government to lift restrictions on big business groups, saying such limits undermine the competitiveness of South Korean business conglomerates competing fiercely abroad.A total of 57 business groups with over 5 trillion won (US$4.45 billion) in assets and th

This article was provided by the Embassy of Brazil in Seoul to The Korea Post for publication, publisher of 3 English and 2 Korean-language news media since 1965.—Ed.By Michel TemerAccess to drinking water and basic sanitation is a right and one of the sustainable development goals of the Unit

Despite a persistent job crunch, the number of the short-term unemployed in South Korea fell the most in 71 months in February, data showed Tuesday, as more people gave up searching for jobs.The number of people who have been jobless for less than three months came to 826,000 last month, down 116,00

The quality of smartphone manufacturers' warranty services provided in South Korea fall behind those of other countries despite the average sales prices being higher here, industry watchers said Tuesday.Samsung Electronics Co. is currently preparing the launch of the so-called Samsung Mobile Car

South Korea will decide whether to join the fledgling Pacific trade pact within the first half of the year after looking into its impact on the national economy and consulting with member states, Seoul's chief economic policymaker said Monday.A year after U.S. President Donald Trump abandoned th

South Korea's exports fell 3.4 percent on-year during the first 10 days of March due to fewer working days, customs data showed Monday.The country's outbound shipments reached US$13.7 billion in the March 1-10 period, according to the data from the Korea Customs Service.The customs office, h

A South Korean consortium made up of steelmaker POSCO and battery maker Samsung SDI Co. will invest 57.5 billion won (US$54 million) to build a cathode plant in Chile by 2021, POSCO said Sunday.The POSCO-Samsung SDI consortium beat 12 companies from seven countries to secure the Chilean project, whi

Hotel Lotte Co., South Korea's largest duty-free operator, said Friday it will hand over three of its four money-losing concessions at Incheon International Airport in the coming months in the latest setback to its duty-free business.The move came as Incheon International Airport Corp., the airp

Smart contracts based on blockchain technology can effectively prevent delays in payments for delivered goods and make it impossible to unilaterally alter original contracts, a local think tank said Sunday.The report by Korea Small Business Institute (KOSBI) said blockchains can open new horizons fo

The state-run Korea Development Bank said Friday it will conduct due diligence on GM Korea Co., the South Korean unit of General Motors Co., next week to decide on whether to provide financial support to the company.KDB officials had a meeting with GM Executive Vice President Barry Engle at the poli

BBC Worldwide called it the ‘sparkling disruptor’. So what is the buzz all about?ALTR Created Diamonds are branded diamonds grown exclusively by RIAM Group, and is infusing new energy into diamonds with a strong new proposition in the market - a superior stone in a superior size at the same value.It

Russian Ambassador to the Republic of Korea Alexander Timonin observed that Russia and Korea have been working hard for the development of natural gas in Siberia. During a recent interview, he observed: “I hope that the two countries will be able to make further progress in their energy cooperation,

South Korea has formed a task force team to reduce fine dust from old coal-fired thermal power plants as the country moves to cope with rising air pollution concerns, the energy ministry said Monday.The Ministry of Trade, Industry and Energy said the team composed of officials from state-utility fir

A major Korean business lobby said Sunday it has asked the United States to make an exception for South Korea from its proposed tariffs on steel imports, citing the close security and economic ties between the two nations.The Federation of Korean Industries (FKI) said it has sent letters to 565 U.S.

Samsung SDI Co. said Sunday it will supply 13,000 battery modules for an energy storage system (ESS) linked with Hawaii's largest solar project.The South Korean battery maker will work with AES Distributed Energy, a U.S. power company, to supply batteries for the ESS, which can store excess sola

The combined sales of South Korea's five carmakers fell 9.8 percent last month from a year earlier due to fewer working days and generally weak demand, corporate data showed Friday.The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYon

Kumho Tire Co.'s creditors said Friday they aim to sell the financially troubled company to Qingdao Doublestar Co. through a rights issue, as attracting investment from the Chinese tiremaker may be the best option at present.The state-run Korea Development Bank (KDB), the main creditor, held tal

Unionized workers of Kumho Tire Co., the country's second-largest tiremaker, said Saturday they will do whatever it takes to block its creditors' plan to sell the embattled company to a foreign company.On Friday, Kumho Tire's creditors, including the state-run Korea Development Bank, ann

Hyosung Chairman Hyun Joon Cho on Feb. 18 held talks with Indian Prime Minister Narendra Modi, just 10 days after a meeting with Vietnamese Prime Minister Nguyen Xuan Phuc.In his talks with Prime Minister Modi, Chairman Cho agreed to build his company’s first spandex plant in India, specifically in

The sole Ghanaian athlete at the PyeongChang Winter Games has thanked his Korean financial backer and supporters for making his dream of competing at the Olympics come true. Akwasi Frimpong, who is also the only athlete representing Ghana, came in last, at 30th, at the men's skeleton event held