SK hynix Inc. remained silent Wednesday over reports that Japan-based Toshiba Corp. is reconsidering South Korea's No. 2 tech giant as a potential buyer of its memory chip division.Earlier in the day, Japanese media reported Toshiba has signed a memorandum that includes SK hynix as part of its p
Creditors of Kumho Tire Co. could not assess the latest self-rescue plan by the South Korean tiremaker due to lack of details, officials said Wednesday.The move came a day after the tire unit of Kumho Asiana Group submitted the self-rescue plan to its main creditor, the state-run Korea Development B
Prosecutors investigating accounting fraud allegations at South Korea's sole aircraft manufacturer related to a helicopter project are broadening inquiries into new suspicions that the company may also have cooked the books in connection with a mammoth state project to build fighter jets locally
South Korea will keep the electricity reserve rate at 22 percent in 2031, the same estimated two years ago, as the government's push for renewable energy needs back up facilities for a stable power supply, a panel said Friday.A government working group to outline the power supply plan for 2017-2
Fiat Chrysler Automobiles and Mercedes-Benz will recall over 4,000 vehicles sold in South Korea to replace faulty parts in air bags and seat belts, the transport ministry said Thursday.Fiat Chrysler must check 3,856 vehicles belonging to three models -- the Jeep Compass, Chrysler Sebring and Dodge C
South Korea's top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year's stock rally driven by large caps, data showed Thursday.POSCO's market capitalization stood at 29.1 trillion won (US$25.8 billion) as of Wednesday, ranking f
LG Electronics Co. announced today that it plans to start accepting preorders for its new flagship smartphone, the V30, ahead of the official release slated for later this month.Customers who make preorders through the country's mobile phone operators from tomorrow to next Wednesday will get the
Hyundai Motor Co. and its affiliate Kia Motors Corp., South Korea's two biggest carmakers, will temporarily shut down their plants in the United States to avoid any damages from Hurricane Irma, the companies said Monday.Hyundai Motor will suspend operation of its Alabama plant for two days from
SK Innovation Co., South Korea's top oil refiner, said Monday that it has received a total of 945 billion won (US$835 million) in dividends from its two affiliates.In a regulatory filing, SK Innovation said its two wholly-owned units -- SK Global Chemical Co. and SK Energy Co. -- paid 345 billio
Operating profits of Starbucks Coffee Korea are expected to exceed 100 billion won (US$88.4 million) this year amid growing popularity of the U.S. coffeehouse chain here, industry sources said Tuesday.The 50-50 joint venture between retail conglomerate Shinsegae and the U.S. coffee giant posted 52.8
South Korea's super rich, who make up the top 1 percent of the population, own on average 6.5 homes, while half of the people don't own their own houses, government data showed Sunday.The findings submitted by the tax office and ministry of interior to ruling Democratic Party lawmaker Park K
South Korean companies, led by Doosan Infracore Co., continued to expand their presence in China's excavator market, as the world's No. 2 economy increased spending on infrastructure, industry sources said Saturday. According to market watchers, Doosan Infracore sold a total of 554 e
The chief of South Korea's major public broadcaster MBC was questioned by the labor ministry early Tuesday over allegations that he violated labor laws and unfairly exerted influence over personnel affairs at the company based on political bias.Kim Jang-kyom, president and CEO of MBC, appeared a
South Korea's current account deficit in air transport reached a record high in the first six months of the year due mainly to a sharp drop in Chinese tourists stemming from the ongoing diplomatic spat over the deployment of a U.S. missile defense system, central bank data showed Sunday.
Hyundai Motor Co., South Korea's biggest carmaker by sales, said Sunday it will launch its luxury G70 midsize sedan this month in a move to strengthen its independent Genesis lineup.The company expects the addition of the G70 to the Genesis brand will help it establish a stronger presence in the
SK E&C, a global engineering and construction company, has distributed information literature on “The SK Leaders’ View” apartments under construction in Mapo-gu, western Seoul. The View apartments will consist of five tower blocks each with 29 stories above ground and five below.Of the total 472 apa
The worldwide market for mobile phone displays is expected to overtake that of TVs screens for the first time ever this year, brought on by the change in consumer demand, industry trackers said Sunday.According to IHS Markit, growth of mobile panels averaged 17 percent annually in the past seven yea
South Korean shipyards, led by Hyundai Heavy Industries Co., are still struggling to cut costs through unpaid leave for their workers and shutting down dry docks idled amid a lack of orders, industry sources said Sunday.For decades, the shipbuilding sector has been one of the key growth drivers for
The Seoul Central District Court sentenced Vice Chairman Lee Jae-yong of Samsung Business Group to five years in prison this afternoon. Lee’s Lee's lawyers said they will immediately appeal the case to higher court.The prosecutors earlier demanded 12 years in prison against Lee on the ground tha
President Moon Jae-in has appointed an incumbent assistant deputy governor of the Bank of Korea as the new vice chief of the central bank, it said Sunday.Yoon Myun-shik, who entered the central bank in 1983 and served in various posts, was chosen to succeed Jang Byung-wha as BOK deputy governor, acc