Hyundai Motor Co., South Korea's largest carmaker by sales, said Wednesday it will launch the all-new Veloster coupe early next year in global markets.The carmaker said it plans to unveil the Veloster for the first time at the Detroit motor show in January ahead of sales in the key North America
The Ministry of Oceans and Fisheries said Tuesday it will appoint a civilian expert to lead the team searching of the wreck of the Sewol, after it came under fire for concealing the discovery of remains.The team tasked with searching the wreckage of the Sewol ferry found a piece of bone from the shi
China's tourism authorities decided Tuesday to partially lift its bans on group tours to South Korea, sources said, as Seoul and Beijing move to repair bilateral relations badly frayed by the deployment of a U.S. defense system in South Korea.At meetings earlier in the day, China's National
Samsung Engineering has won a contract worth US$2 billion with the Duqm Refinery Petrochemical Industries Company LLC (DRPIC) in Oman.The Korean firm said it has received an ITA (Intention To Award) from DRPIC for the Duqm refinery project package 2 - Utilities & Offsites, located in southern Oman.
President Max Burger of MAN Truck & Bus Korea says that his company will step up efforts to enhance its market position in Korea’s commercial vehicle sector with upgraded customer services and new technology related to autonomous driving. At a recent interview with The Korea Post media, President Bu
Former U.S. energy secretary Steven Chu said Thursday that South Korea's current policy to do away with nuclear power is not a viable solution, and called for more concerted efforts to develop renewable energy."Nuclear is better than natural gas or coal... it's a job of the government to ed
South Korean retailers are placing big bets on their own private-label brand (PB) products to take advantage of customers' growing appetite for low-priced but relatively good quality products.Local retail companies, such as Lotte and Shinsegae Group, began to sell a couple of PB products, includ
A South Korean chemical firm was hit with anti-dumping tariffs by China's Commerce Ministry this week for its exports of methyl isobutyl ketone (MIBK), a compound widely used in coatings, pesticides and solvents, industry officials said Friday.Kumho P&B Chemicals, an affiliate of Kumho Petrochem
The South Korean government has expressed its firm stance to the United States against the additional opening of the agricultural market in the upcoming negotiations to amend the bilateral free trade pact, a senior ministry official said Wednesday."The government will not strike deals that turn the
The chief of South Korea's top airline Korean Air will face a prosecution probe over allegations that he siphoned off company funds to use it for his house remodeling four years ago, police said Wednesday.The National Policy Agency has referred the case on Cho Yang-ho, the chairman of the air ca
A scion of South Korea's Hanwha Group, a chemical-to-finance conglomerate, came under fire once again for misconduct, this time, against lawyers, in the latest case involving the family running one of the country's biggest businesses.In a statement released Tuesday by Hanwha, Kim Dong-seon,
Tourism authorities are cranking up promotions to attract foreign visitors to the 2018 PyeongChang Winter Olympics by engaging actively in international travel events across all continents, officials said Wednesday.The Korea Tourism Organization (KTO) led a large delegation to the China Internationa
Samsung Electronics Co. is expected to outpace U.S.-based Intel Corp. in terms of sales this year and emerge as the world's No. 1 chipmaker, data showed Monday.According to the data compiled by industry tracker IC Insights, Samsung will likely post sales of US$65.6 billion in the chip segment to
Lotte Duty Free, South Korea's No. 1 duty-free operator, has submitted a bid to renew its license to run a store in Seoul, authorities said Monday, amid growing hopes for a return of Chinese tourists.Lotte Duty Free applied to win the license to continue its operation at the Convention and Exhib
KT&G Corp. South Korea's leading cigarette maker, on Monday officially began selling its new tobacco-heating device, amid growing popularity of heat-not-burn (HNB) products in the country.The new product, dubbed lil, heats up tobacco leaves without generating smoke using battery power, according
The number of children that South Korean parents want in their lifetimes has more than halved in the past 60 years amid the country's low birth trend, government data showed Monday.Married couples in the country said they want 2.07 kids on average in the 2010-2015 period, compared with 4.49 chil
The family that owns South Korea's No. 1 conglomerate Samsung Group fell a notch in the list of Asia's richest families, data showed Monday.According to the list compiled by U.S.-based business magazine Forbes, the Lee family held assets estimated at US$40.8 billion this year, which puts the
The South Korean market for instant meals reached 2.2 trillion won (US$2 billion) last year mainly on the back of increased sales of ready to eat meals, a report showed Sunday.According to the report by the Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries and Food Trade C
Woori Bank, South Korea's No. 3 retail lender, said Friday it will announce candidates for the bank's new chief executive job next week, without publicly taking applications for the post.The decision to skip receiving applications, which was made at the bank's chief executive nomination
Foreign countries' push to restrict imports of South Korean products came to a halt in October in a positive sign for the export-focused economy, a trade body said Friday.No South Korean products were subjected to fresh import regulations in the form of anti-dumping duties, countervailing duties