A unique distribution system is behind the global popularity of South Korean cosmetic brands, the new head of an international association of cosmetic scientists said.Kang Hak-hee, who on Wednesday became the President of the International Federation of Societies of Cosmetics Chemists (IFSCC), said
The South Korean government on Tuesday confirmed its plan to restart the construction of two stalled nuclear reactors but vowed to scrap plans to build six new units as part of its strategy to gradually phase out atomic power.The Ministry of Trade, Energy and Energy officially announced the decision
LG Household & Health Care Ltd., South Korea's No. 2 cosmetics and household goods maker, said Tuesday it racked up a solid profit in the third quarter of this year on the back of its high-end cosmetic brands, despite concerns over a setback from a diplomatic row between Seoul and Beijing over a
South Korea will further tighten mortgage rules for owners of multiple homes, officials said Tuesday, as part of the latest comprehensive measures to ensure mounting household debt does not hurt the nation's economy.The fresh set of debt-controlling steps comes at a time when the Bank of Korea (
Samsung Electronics Co. said Tuesday the organic light-emitting diode (OLED) technology is not suitable for use on television sets, apparently targeting its main rival LG Electronics Inc. while promoting its own QLED screens.The statement follows a YouTube video posted by the South Korean giant earl
Twenty-four companies have newly joined the ranks of those with 10 trillion-won (US$8.84 billion) market capitalization compared with 10 years ago, raising the number of such firms to a record high of 35, according to the Korea Exchange on Tuesday.Of the group, 34 were on the main bourse, including
The head of the state-run Korea Electric Power Corp. (KEPCO) said Monday that electricity prices are not likely to rise within five years, but it could happen in the long term as the government is set to switch from coal and nuclear to renewable energy.Since taking office in May, President Moon Jae-
The head of General Motors Co.'s South Korean operations, speaking during a parliamentary audit session Monday, didn't deny speculation that the U.S. carmaker may withdraw from South Korea on weaker sales.At the audit, GM Korea President and Chief Executive Kaher Kazem repeatedly said he wil
South Korea will strengthen punishments for those who leave their dogs unleashed in public spaces and add specific dog bite clauses to animal protection laws to address safety concerns, the agriculture ministry said Monday.Calls have risen to urge dog owners to constrain their pets in public spaces
LG Household & Health Care said Monday it has opened three outlets for its top cosmetics brands in the southern Chinese city of Hangzhou.The outlets specializing in OHUI, belif and VDL, respectively, were launched at Yintai Department Store on Sunday, the company said.The outlets are the first of th
The number of Chinese tourists in South Korea declined 56 percent on-year in September, marking the seventh straight month of decrease following the diplomatic row over the deployment of a U.S. anti-missile system here, government data showed Monday.The tally of Chinese visitors came to 318,682 last
South Korea is set to unveil another set of measures this week, the third of its kind, aimed at curbing rising household debts amid expectations that the central bank would raise its key rate in the coming months, industry sources said Sunday.The measures, due Tuesday, come as a rise in housing pric
The number of stock-rich persons with their stock holdings valued at 1 trillion won (US$883 million) or more rose to the highest ever as the local stock market continued to renew its all-time highs on the back of sound corporate earnings and ample liquidity, industry data showed Sunday.According to
Solar power can create more jobs than atomic and coal-fired electric energy generation, a state-run think tank said Sunday.In a report on solar power job creation in the fourth industrial revolution era, the Korea Institute for Industrial Economics and Trade (KIET) said that while nuclear and conven
Sales of luxury cars in South Korea exceed those of richer countries, industry data showed Sunday.Numbers provided by foreign carmakers and the Korea Automobile Importers and Distributors Association (KAIDA) showed South Koreans bought more new BMW 5-series and Mercedes-Benz E-class cars than German
South Korea's bourse operator is set to decide this week on whether to allow the resumption of trading of Daewoo Shipbuilding & Marine Engineering Co. on the local stock market, industry sources said Sunday.The trading of Daewoo Shipbuilding stocks have been halted since July last year, due to i
Retail oil prices in South Korea rose for 12 weeks in a row this week in line with a hike in global crude oil prices, data showed Saturday.The average gasoline price nationwide was at 1,505.3 won (US$1.33) per liter in the third week of October, edging up 2.2 won from a week earlier, marking a 12-we
South Korea finished second in a global competition showcasing vocational training in Abu Dhabi following China, the labor ministry said Friday.South Korean competitors claimed eight gold, eight silver and eight bronze medals in the WorldSkills event in Abu Dhabi that came to a close on the previous