Foreign executives working for South Korean companies make up just 1.4 percent of senior management -- a decline from three years ago, as their biggest employer, Samsung, has cut back on such hirings -- data showed Monday. An analysis by market researcher Korea CXO Institute counted only 94 foreigners out of 6,843 executives. This is a decrease from 101 in 2015, or a drop of 1.5 percent. The number of companies that have non-Koreans as senior managers increased from 18 to 20 during the period. (

The Supreme Court on Monday finalized an 18-month prison term for a former head of the now-defunct Hanjin Shipping Co. for selling off her family's stake in the firm using insider information. Choi Eun-young, 56, was convicted in December last year of unloading the stakes held by her and her two daughters after she learned that Hanjin's creditors decided against the additional liquidity support. She avoided about 1 billion won ($875,270) of possible losses. (Yonhap)She was imprisoned following t

Diplomatic ties between US, NK should come first before exploring mineral resources

Samsung Electronics Vice Chairman Lee Jae-yong will head to Vietnam this week on a business trip aimed at checking Samsung's key smartphone production lines amid a decline in its global market share, industry sources said Sunday.     Lee is scheduled to leave on Tuesday and stop at Hanoi and Ho Chi Minh city, sources familiar with the matter said. The purpose of the trip is to check factories in Vietnam and meet with government and industry officials there, according to the sources.  Samsung Ele

South Korean builder GS Engineering and Construction reported a record-breaking quarterly performance in the third quarter, according to the firm. The company said it had recorded 9.7 trillion won ($8.4 billion) in sales, 843 billion won in operating profit and 657 billion won in pretax profit between July and September.Those figures are the highest in the history of the company, according to GS E&C.The company said its sales had increased 16.3 percent year-on-year, while its operating profit ha

Next-generation materials to filter fine dust, upgrade fuel cells for vehicles under development

South Korean supermarket chain Homeplus said it was running a pop-up market for three months to help female entrepreneurs promote their products. The market, called Women’s Good Market, operates at Homeplus’ Yeongtong outlet in Suwon, Gyeonggi Province, in a joint partnership with Gyeonggi Province’s Gyeonggido Job Foundation. Participating companies are selling their products at the Yeongtong outlet, rent-free and commission-free, for three months until Dec. 31, according to Homeplus. The Women

NEW DELHI -- According to the recent Hydropower Status Report, East Asia and the Pacific has the highest annual increase in hydropower capacity with China contributing the largest share of installed capacity. Over 90 per cent of the capacity added in 2017 in the region came from China, which increased its total installed capacity to 341,190 MW.Japan is second in the region with an installed capacity of 49,905 MW. It is followed closely by India with an installed capacity of 49,382 MW. In India,

Incheon International Airport Corp. said Sunday it started detailed research on the country's first arrival duty-free shop, which will tentatively open in May. The move came as the government decided in September to allow duty-free shops at arrival terminals in a bid to reduce discomfort experienced by tourists and boost domestic consumption. Incheon International Airport duty free shops (Yonhap)Incheon International Airport said it will complete its studies on selecting the most optimal locatio

KT Corp. said Sunday it will announce its pick for its fifth-generation (5G) network equipment supplier as early as this week."We will make the announcement soon. It is possible to be delivered within a week," said KT Chairman Hwang Chang-gyu during his meeting with reporters in Boston. Hwang added South Korea's No. (Yonhap)2 mobile carrier also reviewed equipment from China's Huawei Technologies Co. amid a controversy over their security.LG Uplus Corp. earlier announced that South Korea's No. 3

LIGHTING UP ARENA -- The State Farm Arena, home to the US NBA team Atlanta Hawks, is now equipped with new videoboards, featuring 12,000 square feet of Samsung Smart LED signage. The main, center-hung video board is not only the NBA’s first 360-degree, continuous video screen, but also the first arena bowl to feature HD-quality, 6 mm LED video display technology, Samsung said Sunday. (Samsung Electronics)

E-commerce company Coupang said it will launch a special delivery service, starting with a new environmentally friendly delivery center in Daegu in November. Coupang Logistics Service, a Coupang subsidiary that recently received authorization from the Ministry of Land, Infrastructure and Transport to operate as a delivery service provider, will open the country’s first logistics and delivery center with charging stations for electric cargo trucks. After opening its initial branch in Daegu, Coupa

SK Telecom said Friday the mobile carrier will acquire SK infosec, an information security subsidiary of SK Group, through a comprehensive stock exchange. SK infosec is the country’s biggest data security solution provider with around 200 billion won ($175 million) in annual sales. The company is the first Asian business to join the Cyber Threat Alliance of global security firms. (Yonhap)SK Telecom will exchange some 1.6 percent treasury stocks with a 100 percent stake in SK infosec, and will in

Hyundai Mobis, a parts maker within Hyundai Motor Group, posted 1.44 trillion won in operating profit, a 15.1 percent decrease from a year ago, the company said in a statement Friday.Between July and September, the parts maker saw 8.42 trillion won in revenue, a 3.9 percent drop on-year, with a net profit of 449.4 billion won, which also declined 6.8 percent over the same period.Sales dropped due to the lower production volume of vehicles in the last three months and the temporary suspension of

The Incheon Metropolitan City said Friday it is considering a move to take back the vehicle test site it provided to GM Korea Co. as it claims the carmaker violated a bilateral agreement.In GM Korea's shareholders meeting held last week, General Motors Co., the largest shareholder in the carmaker with a stake of 77 percent, approved its plan to spin off GM Korea's engineering and research divisions into a separate R&D corporation. The test site will be part of the new R&D company. (Yonhap)"The I