Subscribers in their 50s and older are the most active users of YouTube in South Korea, data showed Tuesday.According to Seoul-based app analytics firm Wiseapp, people aged 50 and older spent the most time watching YouTube of all age bracket last month. They spent a combined 10.1 billion minutes, about 26 percent of total watching time across all generations. WiseApp said teenagers were the second largest age group with a combined 8.9 billion minutes of watching time on Youtube. It was followed

South Korean auto giant Hyundai Motor and its sister company Kia Motors invested 106 billion won ($89.23 million) in a Croatian manufacturer of high-performance electric cars, a move to target the emerging high-end market for race cars powered by electricity, the company said Tuesday.Under the partnership with Rimac, Hyundai plans to unveil two prototype models for hypercars next year, one powered by electricity and one by hydrogen. The investment aims to position Hyundai as leader in the global

Korean confectionary firm Orion said Tuesday its Turtle Chips was given the Best Puffed Foods Award at the annual Food and Beverage Innovation Forum held in Hangzhou, China.The crispy snack with its distinctive four-layered plates was among 17 food items recognized with the Hello Foods Prize at FBIF -- one of the leading food and beverage industry conference in the Asia-Pacific region. The prize is given to innovative products selected by 17 judges in the FBIF committee. Chinese version of Turtl

Lotte Group Chairman Shin Dong-bin became the first South Korean conglomerate leader to meet US President Donald Trump at the White House since he assumed office, where the two discussed business investments and job creation, the company said Tuesday.The meeting, which was held at the firm’s request, took place during Shin’s visit to the US to attend the completion ceremony of Lotte Chemical’s ethane cracking center in Louisiana last week. The meeting on Monday was attended by US National Securi

Lotte Group, South Korea's retail-to-chemicals conglomerate, has been accelerating its move to tap deeper into the United States, the world's largest economy, with its cumulative investments reaching some US$4 billion in production facilities and other areas, industry sources said Tuesday.In its latest investment, Lotte Chemical Corp., the group's chemicals unit, completed the construction of the $3.1 billion ethylene plant in Lake Charles, Louisiana. Lotte owns an 88 percent stake in the projec

Lotte Group Chairman Shin Dong-bin met with US President Donald Trump at the White House on Monday, becoming the first South Korean conglomerate leader to have such a meeting.Shin was in the US to attend a ceremony marking the completion of a 3.6 trillion-won ($3.1 billion) ethylene plant built by Lotte's chemicals arm in Louisiana.Lotte Chemical Corp. holds a 88 percent stake in the project, with its US partner, Westlake Chemical Corp., owning the rest. (Yonhap)"Great to welcome Chairman Shin f

South Korea‘s antitrust chief left for Colombia on Monday for an international conference on competition, the Fair Trade Commission said.　Kim Sang-jo will attend the International Competition Network annual conference in Cartagena, Colombia, from Wednesday to Friday, according to the commission. Korea`s FTC Chairman Kim Sang-jo (Yonhap)　The Colombian Superintendence of Industry and Commerce said that discussions will focus on strategies related to digital economy, innovation, market definitions

Dongkuk Steel Mill Co., South Korea‘s third-largest steelmaker, said Monday it will inject US$150 million over the next three years into a Brazilian steel mill that it owns a stake in to help improve its financial standing.　Dongkuk Steel owns a 30-percent share in Companhia Siderurgica do Pecem steel mill, while South Korea’s leading steelmaker, POSCO, and Brazil-based mining giants Vale S.A. have 20-percent and 50-percent shares, respectively, in CSP. 　The two other investors will spend money i

　The U.N. Food and Agriculture Organization opened a liaison office in South Korea on Monday to play a greater role in global food-related projects and promote global movements against famine and poverty.　The office will center on rolling out joint projects to cope with poverty and food security issues, along with sharing agricultural know-how with developing countries, according to the Ministry of Agriculture, Food and Rural Affairs.　“The ministry and the FAO started discussing opening the offi

Pressed by global cloud giants, South Korean mobile carriers seek to create a niche market with edge computing technology

Korea Ginseng Corp. said Monday it was participating in the 2019 TFWA World Exhibition and Conference being held in Singapore until this Thursday, to make further advances in the overseas duty-free markets with its ginseng products.The exhibition is Asia’s largest duty-free exposition hosted by the Tax Free World Association, bringing together famous brands and duty-free operators worldwide. CheongKwanJang brand zone at 2019 TFWA World Exhibition and Conference (KGC)KGC has been taking part in t

Epic Games’ annual technology sharing forum “Unreal Summit 2019” is set to kick off at InterContinental Grand Seoul Parnas in Gangnam, southern Seoul, organizers said Monday.The North Carolina-based US game company’s CEO Tim Sweeney will deliver the keynote address at the event’s launch Tuesday.Epic Games is the developer of “Fortnite,” which launched in 2017 and has since amassed almost 250 million players worldwide as of March.　It is the powerhouse behind the global No.1 game developing softwa

SKT-MICROSOFT PARTNERSHIP -- SK Telecom CEO Park Jung-ho (left) and Microsoft CEO Satya Nadella shake hands during a meeting at Microsoft’s headquarters in Redmond, Washington. SKT said Monday the two have signed a memorandum of understanding agreeing to collaborate in areas including 5G, artificial intelligence and cloud computing to foster new business opportunities. (SKT)　

Thai real estate startup sees opportunity in burgeoning market

South Korea’s exports declined for the fifth consecutive month in May, dragged down by a prolonged trade war between the world’s two largest economies -- US and China-- and a fall in chip shipments. According to the Korea Customs Service on Monday, exports in the first 10 days of the month dropped by 6.4 percent to $13 billion from the same period last year, posting a trade deficit of $2.1 billion. Exports have been declining since December. (Yonhap)By segment, semiconductor exports fell 31.8 pe