South Korea's state-run information and communications promotion agency said Thursday local companies have filed the third-largest number of patents related to artificial intelligence (AI) technology over the past 12 years.The Institute for Information and Communications Technology Promotion (II

Five foreign carmakers and an importer of two wheelers will recall nearly 13,000 vehicles in South Korea due to faulty components, the transport ministry said Thursday.This is the latest in a series of recall orders issued by the Ministry of Land, Infrastructure and Transport to both domestic and fo

Starbucks Coffee Korea Co. opened its largest store in Seoul on Wednesday amid its growing popularity among local consumers.The 1,097-square-meter store at Jongno Tower has about 100 coffee and tea items on the menu -- 30 percent more than the options provided at its other chains -- along with some

Korean Air Lines Co. said Wednesday it will add two CS300 aircraft to its fleet by January, becoming the first Asian passenger carrier to adopt the fuel-efficient plane.The first 127-seat CS300 will arrive at Gimpo International Airport on Dec. 25, with the second one scheduled to be delivered on Ja

The government expects the economy to grow in the 3 percent range in 2018 following an estimated expansion of more than 3 percent this year, informed sources said Wednesday.It would mark the first time in seven years that Asia's fourth-largest economy will likely achieve a growth rate of 3 perce

Hyundai Motor will set up a joint venture in Indonesia to assemble commercial vehicles in the populous Southeast Asian country, said Hyundai in a statement. The joint company, due to be set up between Hyundai and Artha Graha in May 2018, will put together knock-down units at a plant that is equipped

A majority of South Korean ICT companies are sanguine about the country's economic and their business conditions in 2018, a poll showed Tuesday.According to the survey of 300 domestic ICT firms, 35 percent of the respondents expect Asia's fourth-largest economy to turn for the better next ye

The cumulative sales volume of POSCO’s Automotive Steel Processing Center in Suzhou, China has exceeded 5 million tons, said the steel giant in a statement. This facility is the first POSCO steel processing center which achieved the feat in a period of 14 years. The Suzhou Automotive

Slightly over 1 in 10 subsidiaries of South Korea's top 10 business groups are listed as foreign-invested companies eligible for tax and other benefits, a market tracker said Monday.As of end-November, 91 of the groups' 665 units, or about 14 percent of the total, were registered with the go

(Yonhap) -- South Koreans plan to spend less on year-end and new year holiday gifts in the coming few weeks compared to the year before amid rising unemployment and unstable job security, a poll showed Monday.The average South Korean plans to spend about 203,000 won (US$183) buying gifts toward the

Unionized workers at Hyundai Motor Co. will stage a walk out next week for higher wages and bonuses, as the carmaker has not accepted their demands, the union said Friday.Hyundai workers plan to go on strike for eight hours a day Monday through Tuesday at the carmaker's five plants in Ulsan, abo

Six carmakers will recall nearly 320,000 vehicles in South Korea due to faulty parts, the transport ministry said Friday.This is the latest in a series of recall orders issued by the Ministry of Land, Infrastructure and Transport to both domestic and foreign carmakers.Six carmakers -- Hyundai Motor

Samsung Electronics Co. is forecast to lose ground next year in the smartphone segment, an industry tracker said Thursday, apparently due to the rise of Chinese manufacturers.Strategy Analytics said Samsung Electronics is expected to post a market share of 19.2 percent in the global smartphone indus

The Genesis G80 and G90 sedans earned the highest safety rating from the Insurance Institute for Highway Safety (IIHS) for the year of 2018, Hyundai Motor said Thursday.Hyundai Motor produces the luxury Genesis models under an independent marque separate from other vehicles.The two Genesis models ea

South Korea's jobless rate rose slightly in November as the construction sector hired fewer temporary workers than before amid relatively cold weather, government data showed Wednesday.The unemployment rate stood at 3.2 percent last month, up 0.1 percentage point from a year earlier, according t

South Korea's online shopping malls are expected to post a combined 1 trillion won (US$915 million) operating loss this year as they offer excessive discounts in a competition with rivals to dominate the growing market, industry sources said Wednesday.The rising losses over the past few years co

The accumulated sales of Kia Motors Corp.'s Morning topped the 1 million unit mark last month, the company said Thursday, retaking the title of best-selling minicar in the country.The achievement came more than a decade after Kia Motors launched the first-generation small city car in 2004, accor

South Korean tech giants maintained their strong dominance over the global market for dynamic random-access memory (DRAM) chips in the third quarter, data showed Thursday.According to the data compiled by IHS Markit and other industrial sources, Samsung Electronics Co. accounted for 44.5 percent of

Major foreign investment banks (IBs) have upgraded their 2018 growth forecasts for the South Korean economy on its strong exports, a report showed Thursday.According to the report by the Korea Center for International Finance, Barclays, Goldman Sachs and seven other foreign IBs have forecast Asia

Samsung Electronics Co. said Monday it plans to showcase a film on its QuickDrive washers under cooperation with a popular music composer, highlighting how its products can save users time compared with rivals.The company said the 66-minute film, "Washing Machine" will be showcased in London on Tu