South Korea's point man on trade will travel to the United States to find ways to handle demands for a more "balanced flow of goods" amid ongoing talks to renegotiate the allies' bilateral free trade pact, sources in Seoul said Saturday.Kim Hyun-chong will fly to Washington on Sunday as pa
General Motors Co. will decide next month whether to maintain a production capacity of 500,000 units in its plants in South Korea by allocating two new vehicles here, an executive from the U.S. carmaker said Tuesday.Following a meeting with South Korean lawmakers at the National Assembly in Seoul, G
South Korean airlines reduced greenhouse gas emissions by 450,000 tons last year by adding more fuel-efficient planes to their fleets, the transport ministry said Tuesday.Korean passenger and cargo carriers have voluntarily participated in a campaign to cut greenhouse gas emissions since 2010. They
Hyosung is improving its corporate governance with a transparent management committee formed in September last year changing the representative members of its recommendation committee to include non-executive director candidates. This followed Chairman Cho’s call to work on transparent management pl
Chairman Cho says the person he admires most is his grandfather and Hyosung Group founder Cho Hong-je. Paying tribute to his grandfather’s insight into the future, he mentioned that his grandfather always taught him to grow as an executive by becoming ”a citizen of the world.” Cho Hong-je often talk
DigiCAP CEO & President Han Seung-woo (Pete Han) said that he is certain that Korean-made UHD broadcast equipment will make a splash in the U.S. broadcast market. He said that Korean UHD broadcast equipment manufacturers have secured entry into the U.S. market following Korea’s world-first UHB broad
Hyundai Motor Co.'s Tucson small SUV was the carmaker's best-selling vehicle on the global market last month, outpacing the Elantra compact, data showed Monday.In January, Hyundai Motor sold 51,784 Tucson crossovers, exceeding the Elantra's 48,670, according to South Korea's largest
Samsung Engineering Co., a construction unit of Samsung Group, has signed a deal to build a US$1.03 billion refinery plant in Oman by early 2022, the company said Monday.On Thursday, Samsung Engineering signed a deal with Duqm Refinery and Petrochemical Industries Co. LLC. (DRPIC) to build a 230,000
Four out of South Korea's top-10 listed firms on the main bourse are newcomers, the country's main stock exchange operator said Sunday.According to the Korea Exchange (KRX), the four that joined the top rank last year include bio-pharmaceutical firm Celltrion Inc. and Samsung Biologics.Cellt
SEOUL, Feb. 16 (Yonhap) -- South Korea's six budget carriers reported a combined operating income of 278.3 billion won (US$257.9 million) in 2017, up nearly twofold from the previous year, industry data showed Friday.The strong figure was achieved as local low cost carriers (LCCs) have diversifi
Sales of foreign cars with price tags exceeding 100 million won (US$92,600) reached record high levels in 2017, industry data showed Friday.New vehicle registration of luxury cars with the hefty retail price hit 23,821 units for the whole of last year, the Korea Automobile Importers and Distributors
South Korean bio firm Greencross Medical Science Corp. (GCMS) said Wednesday that it has signed an agreement to export its blood pack manufacturing technology to Indonesia-based PT. Mitra Global Hanindo.Under the contract worth 40 billion won (US$37 million), GCMS will supply 6.1 billion won of comp
GM Korea Co. management and its union on Wednesday gave very different reasons for the company's decision to close down a vehicle production plant in South Korea, setting the stage for clashes in the coming months.On Tuesday, the South Korean unit of General Motors Co., said it will shut down on
A visit to South Korea's heavily fortified Demilitarized Zone (DMZ) was picked as the most popular tour destination among foreign visitors, a study showed Wednesday.According to the study by the Korea Tourism Organization, a half-day visit to the DMZ area was the most popular tour picked by fore
U.S. President Donald Trump on Tuesday hailed General Motors Co.'s decision to shut down a plant in South Korea, saying the carmaker will now "move back" to Detroit.GM announced the same day that it will close one of its four car assembly plants in South Korea by the end of May due to lower de
South Korean retail giant Lotte Group was thrown into disarray Tuesday as a Seoul court sentenced its chairman to 30 months in prison for bribery.The sentence handed down to Shin Dong-bin, by the Seoul Central District Court, caught Lotte officials off-guard, as they did not expect a jail term."We
The world's dynamic random access memory (DRAM) chip market is expected to continue to grow this year on strong demand for chips for data centers and mobile phones, a global market research firm said Wednesday.DRAMeXchange, a research division of TrendForce, forecast that global DRAM chip sales
South Korea's 81 business groups posted a 46 percent on-year jump in their combined operating profit last year, helped by strong results on the part of leading players, a local corporate monitoring website said Wednesday.As of Friday, businesses that have released their preliminary earnings repo
South Korea's energy ministry said Wednesday it will make concerted efforts with the local nuclear industry and related associations to submit a winning proposal for Saudi Arabia's first nuclear power project, which is expected to select a contractor by the end of this year.The Ministry of T
South Korea will take proactive measures to boost exports to keep the growth momentum going despite rising protectionist policies by major trading partners and fewer working days in February, the trade ministry said Tuesday.The Ministry of Trade, Industry and Energy expected the export growth will s