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Stocks mixed, oil down as markets await news on Saudi plant
N. Korea chased off Japanese fishing boats in late August: KCNA
Samsung, LG spar over picture quality of 8K TVs
[Graphic News] North Korea world’s 2nd most censored country
SK Innovation raided over allegations of trade secret theft
S. Korea, Japan explore possibility of talks between their top diplomats: s...
S. Korea’s oil stocks fluctuate after Saudi strikes
US flew spy plane over S. Korean capital area
Holliger, Saariaho win Isang Yun International Composition Award
‘Thousands of Mirrors’ festival to reflect world literature

Today Industry

Asiana Airlines begins Incheon-Lisbon service from October

Asiana Airlines will kick off two weekly direct flights to Lisbon, Portugal, from Oct. 28 to March 25 next year. The Incheon-Lisbon service is the first in the industry for a local air carrier. The flights will depart from Incheon Airport on Mondays and Wednesdays at 2:30 p.m. and arrive in Lisbon at 6:50 p.m. The return flight will depart from Lisbon at 8:30 p.m. and arrive in Incheon at 5:50 p.m. the next day. For the Incheon-Lisbon route, Asiana Airlines will operate its newest airc

Lotte Liquor to launch yogurt-flavored Soonhari soju in the US

Lotte Liquor, the alcoholic beverage arm of Lotte Chilsung Beverage, said Tuesday that its yogurt-flavored Soonhari Chum-Churum soju will soon be sold in the US. Soonhari Yogurt soju is the latest in the company’s Chum Churum Sunhari line, created by adding fruit flavoring, such as citron, peach, apple and strawberry, to soju. It was manufactured exclusively for export.Earlier this month, some 190,000 bottles of 360 milliliter-size Soonhari Yogurt soju were exported to the US, the com

Today
Industry
Hanwha Total expands ethylene production

Hanwha Total Petrochemical has completed the expansion of its ethylene production plant and has begun commercial operation with an aim of generating 590 billion won ($496 million) more in sales each year, the firm said Tuesday. The petrochemicals firm has injected a combined 540 billion won since April 2017 to complete the side gas cracker of the naphtha cracking center in South Chungcheong Province. The new facilities are capable of producing 310,000 metric tons of ethylene and 130,000 tons of

Today
Industry
JTBC, CJ ENM to launch joint video-sharing platform

South Korea’s cable network JTBC and entertainment giant CJ ENM announced Tuesday the launch of a joint video-streaming service amid intensifying competition in the broadcasting industry. The companies have signed a memorandum of understanding to launch an integrated over-the-top video service by combining their video contents. The new platform is expected to become available early next year.The upcoming service will be modeled after CJ ENM’s video-streaming platform Tving, which con

Today
Industry
Hanwha shortlisted for Australian infantry fighting vehicle program

South Korea’s Hanwha Defense said Tuesday it has been shortlisted for the Australian military’s multibillion-dollar plan to replace its current aging fleet of mobility vehicles with advanced capability.　According to the company, its AS21 Redback Infantry Fighting Vehicle is one of two contenders for the Land 400 Phase 3 Program. Competing against Hanwha’s Redback is German firm Rheinmetall Defence’s Lynx KF41.　　The two companies’ IFVs were selected over other global

Today
Industry
Korean shipbuilders may bag more orders after Saudi oil attack

South Korean shipbuilders may receive more orders following drone strikes on Saudi Arabia's crude processing facilities, analysts here said Tuesday, as the incident is likely to push up demand for liquefied natural gas tankers and offshore facilities.Saudi Arabia shut down about half of its oil production Saturday following a series of drone attacks that damaged two key oil installations. The Saudis said that the closure will affect 5.7 million barrels of crude production a day, about 5 percent

Today
Industry
S. Korea to mull releasing oil reserves in case of supply disruption

South Korea will consider releasing its strategic oil reserves in case supply is disrupted following drone strikes on Saudi Arabia's crude processing facilities, a senior official said Tuesday.The combined oil reserves held by the South Korean government and local refiners came to 200 million barrels as of 2018."The government will swiftly push for measures to stabilize supply and demand ... in case oil supply is disrupted," Kim Yong-beom, vice minister of economy and finance, said in

Today
Industry
Dongwon Industries' US unit fined in tuna price-fixing case

A US federal court has ordered Dongwon Industries' US unit StarKist Co. to pay a $100 million (118 billion won) fine in a canned tuna price-fixing case, the Korean tuna company said Monday. StarKist plans to pay the fine in installments over the next five years. Of the planned payment, $50 million has already been reflected in the upcoming second-quarter earnings results, and the remainder will be factored in the bottom line later, Dongwon Industries said in a regulatory filing. The Pittsburgh,

Sept 16, 2019
Industry
Seoul has world’s 6th priciest groceries

Groceries are more expensive in Seoul than in New York or Tokyo, with only five Swiss cities surpassing the South Korean capital in grocery costs, data showed Monday.According to city and country database website Numbeo, Seoul’s groceries price index amounted to 105.01, placing it at No. 6 on a list of 375 major cities. The groceries price index is calculated according to the retail prices of items such as meat, vegetables and fruit, based on data contributed by users. Swiss citi

Today
Industry
Daewoo E&C clinches LNG plant project in Nigeria

South Korean builder Daewoo Engineering & Construction has clinched a liquefied natural gas plant project in Nigeria, becoming the first Korean builder to be chosen as a prime contractor in the competitive global LNG plant sector.According to Daewoo E&C, it signed a letter of intent with Nigeria LNG last week to undertake planning, equipment purchasing and construction for the Train 7 liquefaction and purification facility on Bonny Island, Nigeria. The Train 7 project is expected to

Today
Industry
Game companies prepare new mobile titles for Q4

South Korean game companies are preparing to launch potential blockbuster mobile titles in the last quarter of this year, hoping to boost their bottom line.NCSoft is staking its bet on the mobile 3D massively multiplayer game Lineage2M -- the game investors and venture capitalists as well as fans of the original Lineage game have been doggedly asking about from the beginning of this year.Advance sign-ups for Lineage2M began Sept. 5 and broke the 1 million threshold within seven hours, then escal

Today
Industry
Hyundai Heavy unit to sell assets, shares to improve financial status

Hyundai Electric & Energy Systems Co., a power equipment maker under Hyundai Heavy Industries Group, said Monday it will sell assets and shares to improve its financial status. The company said it plans to raise 150 billion won ($126 million) by selling new stocks and secure an additional 150 billion won by selling assets in an effort to enhance its financial soundness. The proceeds from its asset sales will be mainly used to pay its debts, with some of them to be invested into its res

Sept 16, 2019
Industry
South Korea closely monitors Aramco setback

Oil refiners see no immediate supply concerns but their refining margins may be affected

Today
Industry
Airlines’ 10-year expiration of mileage under review: FTC

The nation’s antitrust watchdog has been zeroing in on whether it is legal for air carriers’ frequent flyer programs to allow mileage to expire within 10 years. According to lawmakers on Monday, Fair Trade Commission Chairperson Joh Sung-wook told lawmakers last week that the antitrust regulator is reviewing the legality of airline companies’ mileage policies revised in 2008. “In addition to conducting a review on whether the policies have been unfair, we will come up wit

Today
Industry
Hyundai Engineering wins $2.2b order in Indonesia

Hyundai Engineering Co., a major South Korean industrial plant builder, said Monday it has won a $2.17-billion deal to upgrade a refinery plant in Indonesia. Under the deal with Indonesia's state-run PT Pertamina, Hyundai Engineering will take part in Indonesia Balikpapan Refinery Development Project that aims to revamp oil processing facilities in Balikpapan, East Kalimantan, some 1,000 kilometers northeast of Jakarta.Hyundai Engineering said it will be responsible for the engineering, pr

Sept 16, 2019
Industry

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