Some draw as much as 97 million won for 10 days of workOutside directors at Korean companies may not be fulfilling their roles despite their handsome salaries.According to the data local firms submitted to the Financial Supervisory Service, some firms paid their outside directors as much as 9.7 million won ($9,200) for each day they spent attending company functions. Outside directors were made a

  Woongjin Coway Co., already the industry leader in water and air purifiers, is enjoying a second bloom. The Seoul-based company logged sales of 1.51 trillion won ($1.43 billion) and 228.8 billion won of operating profits last year, marking the 12th consecutive year of record-high sales.“In May, we reached record-high sales in just a month. We are entering our second heyday,” Woongjin Coway CEO H

Hyundai Motor Company president Chung Jin-haeng (front, third from left) and chief of the firm’s Ethiopian branch Haile Gebresellasie (center), pose with Health Minister of the African nation Tedros Adhanom after donating two mobile clinic trucks equipped with X-ray machines. (Hyundai Motor)Hyundai Motor Co. donated mobile clinic vehicles to African nations Monday to step up its corporate social r

Local practices forced to sharpen edge, but experts say legal fees won’t necessarily fallArmed with money and reputation, major European law firms are eyeing the South Korean market gradually opening up with the EU-FTA that came into effect on July 1. Globally renowned firms such as DLA Piper ― the world’s third-largest law firm ― along with Clifford Chance and Allen & Overy are among those lookin

A General Motors Co. Chevrolet Volt electric vehicle is taken for a test drive through the Presidio in San Francisco, California (Bloomberg)Nissan Motor Co., General Motors Co. and other makers of electric and hybrid vehicles will be required by U.S. safety regulators to install warning systems that will automatically sound alerts to pedestrians. The U.S. National Highway Traffic Safety Administra

Truckers drive past stacks of transport containers at Chiwan Container Terminals, Port of Shekou in Shenzhen, Guangdong province, China. (Bloomberg)Consumer prices climbed 6.4 percent, the most in three yearsChina’s trade surplus widened more than forecast to $22.3 billion in June, the highest level in seven months, as imports grew at the slowest pace since 2009. The gap exceeded all the 21 estima

Hyundai Elevator on Tuesday elected former Otis Elevator executive Han Sang-ho as chief executive.  Han Sang-hoHan, 55, will be serving as CEO alongside Hyun Jeong-eun, the Hyundai Group chairwoman. “To create a leading Korean company that also can be received as a global leader, I will be focusing on promoting ethical management, safety, quality control and securing the right talent,” the new CEO

The winners of the 56th the National Academy of Sciences Award (from left) Oh Saeng-keun, Suh Se-won, Lee Kil-seong and Song Jin-won (Yonhap News)Four scholars have been selected as winners for the 56th the National Academy of Sciences Award, the national research institution announced on Friday.Oh Saeng-keun, professor of French literature at Seoul National University has been selected for the hu

Park Mo-ran, an ethnic Korean Russian, won a Korean literature translation award last week.The 24-year-old student translated the novel “The Door of Morning” into Russian and was picked as one of the winners of a competition organized by the Korea Literature Translation Institute. Park Mo-ran (Yonhap News)Witten by Part Min-kyu, the book had formerly won prestigious Yi Sang Literary Award. The you

Theresa Rah (Yonhap News)Former journalist praised for presenting PyeongChang Olympic bidTheresa Rah, communications director of the PyeongChang 2018 Winter Games Bid Committee, has stepped into the limelight as her eloquent and touching presentation is credited with helping the city win the bid last week.As the world watched, the former journalist carried out the presentation of Korea’s decade-lo