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Korea Zinc goes all in to fend off takeover
Yoon expresses Seoul's appetite for Australia's Project Sea 3000
Hanwha zeroes in on arms exports to North America
Taiwanese Mission chief stresses AI strategy on National Day
Are any Han Kang works coming to the big screen?
Yoon unveils $23m humanitarian aid to Myanmar
Han Kang drives readers to bookstores both online and offline
[Photo News] Dive into K-style
Seoul Africa Festival to take place at Banpo Hangang Park on Saturday
Local food festivals beckon tourists with ‘Culinary Class Wars’ chefs
[Photo News] Dive into Pocheon’s silver grass
BTS’s V and RM celebrate Han Kang’s Nobel Prize in literature win
Merck opens new chip materials R&D center in Korea
Ex-Industry Minister Bang to be named ambassador to Indonesia: sources
DP leader urges NK to withdraw move to cut off roads, railways connected to S. Korea
Korea Zinc sweetens tender offer price for own shares in management battle
BOK cuts key rate by quarter point to 3.25%
Kakao founder seeks bail after arrest over suspected stock manipulation
Seoul shares open higher ahead of BOK rate decision
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Hyundai E&C bags $212 mln construction deal in Singapore
Feb 26, 2015
South Korea's No. 2 builder Hyundai Engineering & Construction Co. said Thursday it has clinched a $211.46 million project to construct a commercial building in Singapore. Under the deal with real estate developer Frasers Centrepoint, the South Korean company will build the Frasers Tower, a 38-story office building, to be located on Cecil Street in the Central Business District in Singapore, according to Hyundai E&C. The main building will also have a three-story basement parking facility, a
Lotte, Shilla vie for Jeju downtown duty-free shops
Feb 26, 2015
South Korean duty-free retailers Hotel Lotte and Hotel Shilla are competing again to open more stores, this time on the country's southern island of Jeju, which has become a business hotspot teeming with Chinese tourists who have proven to be zealous shoppers. The two duty-free giants, in addition to local builder Booyoung Group, have submitted proposals to the customs office for a license that would enable the winner to operate for five years one of the island's two downtown duty-free faciliti
[Graphic News] Korean home electricity use below OECD average
Feb 25, 2015
South Koreans use significantly less electricity at home than people in other OECD countries.According to the Korea Energy Economics Institute, South Koreans used 1,278 kWh of electricity on average in the home in 2012, ranking 26th out of 34 countries in terms of electricity use. The figure is only 55 percent of the OECD average (2,335 kWh).The country that used the most electricity in the home was Norway (7,415 kWh), followed by Canada (4,387 kWh) and the U.S. (4,374 kWh).The low home electric
Lotte Group hopes to buy Italian airport retailer
Feb 25, 2015
Lotte Group hopes to acquire Italian airport retailer World Duty Free to grow into the world’s No. 2 duty-free shop operator, group officials said Wednesday. According to news reports, the nation’s fifth-largest conglomerate by assets submitted a proposal to acquire a controlling stake in WDF. Lotte Shopping, which operates Lotte Duty Free, has made the offer estimated at 3 trillion won ($2.7 billion) to 4 trillion won, the reports said. “We are interested in WDF. But it is difficult to confirm
PEFs, Shinsegae, Hoban join competition to buy Kumho Industrial
Feb 25, 2015
Kumho Asiana chairman seeks financial investors to buy back controlling stake in holding firm
Hyundai E&C to join forces with GE for energy, infrastructure biz
Feb 25, 2015
Hyundai Engineering & Construction Co., South Korea's No. 2 builder, said Wednesday it has signed a preliminary deal with U.S. conglomerate General Electric Co. to enhance cooperation in the global energy and infrastructure businesses. Under the deal, the two companies will join hands in various construction and engineering projects throughout Asia, Europe, and the Middle East, as well as in the Americas, according to the builder's press release. "The deal was possible thanks to the firm tru
Open bid for control of S. Korea's No. 2 air carrier draws local builder, PEFs
Feb 25, 2015
A handful of private equity firms and a local builder proposed Wednesday to buy the controlling stake in formerly debt-ridden South Korean builder Kumho Industrial Co., whose sales package includes major shares in the country's No. 2 air carrier. At least four investment firms have submitted letters of intent to get a hold of the construction firm, including IBK Securities-Keistone Partners, Jabez Partners Co., MBK Partners, and IMM Private Equity, according to investment bank industry sources
Gov't to support timely development of U.S. military base, Hyundai
Feb 25, 2015
The government will support the timely development of land in Seoul returned from the U.S. military and property purchased by Hyundai Motor Group to fuel investment, South Korea's top economic policymaker said Wednesday. In a meeting of economy-related ministers in Seoul, Choi Kyung-hwan said the government will shorten the administrative process for the large projects. For the land to be taken over from the U.S. Army in Yongsan, central Seoul, measures will be implemented so that actual devel
Sales at S. Korea's discount outlets, department stores plunge in Jan.
Feb 25, 2015
Sales at South Korea's discount outlets and department stores continued to drop from a year earlier in January, but the decline was largely due to a base effect from the Lunar New Year's holiday, the government said Wednesday. In January, combined sales at the country's three major discount outlet chains plunged 18.3 percent on-year, with numbers for the three major department store chains also tumbling 11 percent, according to the Ministry of Trade, Industry and Energy. January marks the fift
S. Korean credit card firms' 2014 net edges up
Feb 25, 2015
South Korean credit card firms saw their combined net profit inch up last year from a year earlier despite a prolonged domestic economic slump and a massive data leak from major card issuers, industry data showed Wednesday. Eight credit card issuers posted a combined profit of 1.86 trillion won ($1.68 billion) in 2014, up 4 percent from 1.79 trillion won the previous year, according to the data. Their revenues also rose 4.5 percent on-year to 20.3 trillion won from 19.4 trillion won over the c
S. Korea's int'l air passenger traffic jumps 15.8 pct in Jan.
Feb 25, 2015
South Korea's international air passenger traffic surged to a record high in January partly on a large increase in passengers to and from China, the government said Wednesday. The number of international air passengers to and from South Korea reached 5.38 million in January, up 15.8 percent from the same month last year, according to the Ministry of Land, Infrastructure and Transport. The increase was partly attributed to a growing number of South Koreans going abroad for vacation, along with
54 industries designated for SME protection
Feb 24, 2015
A quasi-government panel on Tuesday designated 54 types of businesses as small- and medium-sized companies, a decision aimed at protecting them from business expansion by conglomerates. The Korean Commission for Corporate Partnership said the new categories this year are stationary retail, tobacco wholesale, rice cakes for rice cake soup, woodchips and rental car service.Of the 77 businesses that were due to be taken off the list, up to 49 industries including coffee bean and tofu production wer
Korean Air, KAI vie for fighter jet project
Feb 24, 2015
Korean Air and Korea Aerospace Industries will compete for an 8.5 trillion won ($8.3 billion) fighter jet project, the nation’s arms procurement agency said Tuesday.The lucrative defense project is designed to develop the country’s mid-level jets to replace the aging F-4s and F-5s.“Our own technology will enable the military to utilize the fighter jets for the next 30 years through continuous product improvement,” a Korean Air official said. The country’s largest airliner teamed up with European
LS to export underground power cable to Denmark
Feb 24, 2015
LS Cable & System, the nation’s top power cable-maker, said Tuesday it had signed a 25 billion won ($23 million) power cable supply contact with Energinet Fredericia, Denmark’s national power transmission system operator.Under the deal signed Monday, the company will supply a 300-kilometer-long high-voltage underground cable for the Danish project to modernize and improve the transmission system of the greater Copenhagen area by the latter half of 2016. “Through the deal, the company will furthe
[SUPER RICH] Superrich donating for scientific development
Feb 24, 2015
Scientific development, especially in medicine and technology, has had a considerable effect in raising living standards by saving lives and improving the quality of life.The vast majority of scientific developments are led by the government ― the main reason being the astronomical costs that can only be properly funded by the state. Even in the U.S., personal and private funding for scientific research barely reaches 10 percent of total funds.Experts emphasize that donations from superrich indi
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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