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Security cooperation still possible even after GSOMIA ends, says Moon
Railway union launches indefinite walkout nationwide
Unique ondol found at Gyeongbokgung pavilion
With Samsung’s lead, Korean TV makers dominate global market
Samsung SDI pledges to reduce wage gap with contractors
Korean, Japanese lawyers demand action for forced labor victims
BTS will not be exempted from military service: culture minister
[Editorial] Generational change
S. Korea’s producer prices slip for 4th month in Oct.
[Kim Myong-sik] Suggesting plebiscite on energy denuclearization

Today Technology

With Samsung’s lead, Korean TV makers dominate global market

South Korean manufacturers claimed nearly half of the global TV market as of the third quarter of this year with Samsung Electronics’ solid lead in the large premium TV segment, according to market data on Wednesday. Recent data from market researcher IHS Markit showed that Samsung and LG accounted for a combined 46.2 percent of the global market in terms of sales value in the third quarter. The combined share of the two Korean TV makers stood at 48.1 percent in the second quarter. Samsung

Samsung SDI pledges to reduce wage gap with contractors

Samsung SDI said Wednesday it will help reduce the wage gap between the company and its contractors as part of efforts to seek co-prosperity. South Korea’s leading lithium-ion battery maker, an affiliate of Samsung Electronics, will run a 132.2 billion won ($113 million) worth program to support its contractors to increase wages of their employees. It has signed a trilateral agreement for this with suppliers and Korea Commission for Corporate Partnership. “Through the agreement

Today
Technology
S. Korea’s producer prices slip for 4th month in Oct.

South Korea’s producer prices declined in October for the fourth straight month, central bank data showed Wednesday, reflecting sluggish growth and changes in pork prices.The overall producer price index stood at 103.61 last month, down 0.2 percent from a month earlier and down 0.6 percent from a year earlier, according to preliminary data from the Bank of Korea.This marked the fourth consecutive month of an on-year drop and the first on-month fall in three months.The key reason for the de

Today
Economy
Moon’s top policy aide urges businesses to embrace ‘labor-friendly’ initiatives

President Moon Jae-in’s top policy aide urged business leaders on Wednesday to support a government bill drafted to expand the scope of the 52-hour-week system, amid growing concerns that the administration’s policies are imposing a financial burden on them.“The government will continue to advocate labor rights. Such a policy stance won’t change,” said Kim Sang-jo, chief policy secretary for the president, at a meeting with members of Korea Employers’ Federati

Today
Technology
Foreigners continue selling spree of Korean stocks despite trade volume rebound

Foreign investors continued to offload Korean stocks despite a rebound in daily trading volume, a Korea Exchange data showed Wednesday.Analysts cited the lingering uncertainties surrounding the ongoing US-China trade war that has dampened global investor sentiment behind the move. According to the bourse operator, foreigners were net sellers of shares on the benchmark Kospi worth nearly 1.4 trillion won ($1.2 billion) from Nov. 7 to Wednesday. The offloading observed throughout 10 consecutive tr

Today
Finance
Hotel Shilla launches global brand for overseas operations

Hotel Shilla, a leading hospitality and duty-free operator in South Korea, unveiled the brand identity of its global operations -- Shilla Monogram -- on Wednesday, prior to the February opening of its first overseas hotel in Vietnam’s resort city of Da Nang.To minimize operational risk in the new market, Hotel Shilla will operate the new Da Nang hotel of Shilla Monogram by forging a contract with a third party. It will consist of 300 rooms in a nine-story building. According to the company

Today
Industry
Ediya Coffee opens 3,000th store in Daejeon

Ediya Coffee said it has opened its 3,000th store in Daejeon on Wednesday, setting a new record as a local coffee franchise in the country. Ediya opened its first store in Seoul 18 years ago. According to the coffee franchiser, it has opened at least 300 stores each year within recent six years. Besides Ediya, only bakery franchise Paris Baguette from SPC Group runs over 3,000 stores in the country. To strengthen its competitiveness amid business expansion, Ediya said it has appointed two i

Today
Industry
Samsung Bioepis gears up for approval of Avastin biosimilar in US

The clock has started ticking for the approval process of Samsung Bioepis’ fifth biosimilar in the US. The company said Wednesday that the US Food and Drug Administration has agreed to review the license application it submitted in September for SB8, a biosimilar candidate referencing Avastin (bevacizumab). Avastin is a blockbuster biologics drug of Roche that prevents tumor growth by blocking blood supply. It inhibits a protein called vascular endothelial growth factor that creates

Today
Industry
FTC reviews legal actions against Mirae Asset owner family for alleged profiteering

South Korea’s antitrust watchdog is likely to press a charge against Mirae Asset Financial Group over allegations that the controlling family of the financial empire has been illegally benefitted from suspicious intra-trading deals, the authorities confirmed on Wednesday. Ending a two-year investigation, the Fair Trade Commission said it has recently sent a review report to the group, stating that Chairman Park Hyeon-joo and his family made financial gains through Mirae Asset Consulting, a

Today
Industry
[ASEAN-Korea summit] Rising Southeast Asia, region of strategic priority to OECD

The 2019 ASEAN-Korea Commemorative Summit and the First Mekong-Korea Summit are just around the corner. Association of Southeast Asian Nations ambassadors in Paris have expressed to me their expectations of the summit on various diplomatic occasions, which reminds me of the importance of Southeast Asia and Korea’s New Southern Policy. The rapidly-rising ASEAN bloc accounts for a population of 650 million people, with a total gross domestic product of about $3 trillion. According to the Org

Today
Economy
Tax office launches probes into tax evasion

South Korea's tax agency said Wednesday that it has launched probes into dozens of companies and more than 100 individuals over suspected tax evasion in the latest crackdown on tax dodgers.The National Tax Service said the crackdown targets 46 companies and 14 individuals for alleged offshore tax evasion.The tax agency also said it is looking into 57 people for purchasing overseas properties with money from questionable sources and probing 54 wealthy people who live lives of luxury in foreign co

Today
Economy
S. Korea seeks to expand flights on non-Japan routes

South Korea's transport ministry said Wednesday it is seeking to increase the number of flights on non-Japanese routes as part of efforts to help airlines suffering lower travel demand to Japan. The government is in talks with the aviation authorities in Singapore, Indonesia and Brunei to supply more flights to the countries, the Ministry of Land, Infrastructure and Transport said in a statement. It plans to extend the talks with the aviation authorities in Central Asia next year in order t

Today
Industry
[News Focus] Trade disputes between Korea and Japan show no sign of abating

President Moon Jae-in blames Japan’s export controls for GSOMIA withdrawal

Today
Industry
Yuhan targets market for female health probiotics

UREX probiotics pioneer speaks about 30 years of research behind beneficial microbes for female health

Nov 19, 2019
Industry
Samsung, LG ramp up outsourcing of smartphone models

Expansion of third-party phone production viewed as part of Samsung’s biz restructuring in China

Nov 19, 2019
Technology

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