Hanjin Shipping to begin creditor-led debt restructuring

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Seoul expands ‘car-sharing’ network

The Seoul city government has launched the second stage of car-sharing network aimed at expanding the number of vehicles and use of electric cars in the city, officials said Wednesday.The project name...

Updated : 2016.05.04 18:04

[Newsmaker] Hyundai Heavy pressured to make layoffs

Hyundai Heavy Industries is highly likely to push for massive layoffs amid a prolonged recession in the global shipbuilding sector and the government’s move to restructure the ailing industry. Over t...

Updated : 2016.05.04 16:15

LVMH to operate at Shilla I'Park duty-free shop

Shilla I’Park Duty Free has become the first of last year’s newly-licensed duty-free stores in Korea to house the world’s largest luxury goods maker LVMH Moet-Hennessy Louis Vuitton, according to H...

Updated : 2016.05.04 15:49

Asiana settles with San Francisco for $3.45 million

Asiana Airlines, the nation’s second-largest air carrier, has reached a $3.45 million settlement with San Francisco’s Board of Supervisors for damages caused during a crash in 2013 that killed three...

Updated : 2016.05.04 14:37

[Photo News] Business tycoon in Iran

SK Group chairman Chey Tae-won (left) poses with CEO Roknodin Javadi of the National Iranian Oil Co., after visiting the state-run company in Tehran on Tuesday. The two leaders discussed ways to coope...

Updated : 2016.05.04 14:30

KAI renews CEO’s term

The nation’s sole aircraft-maker Korea Aerospace Industries said the company decided to renew the three-year term for CEO Ha Sung-yong.KAI said in a filing that the decision came at an extraordinary ...

Updated : 2016.05.04 13:57

Hyundai Merchant pressed to complete negotiations over charter rates

Creditors of ailing Hyundai Merchant Marine and the government have urged the country's No. 2 shipper to wrap up its negotiations with the owners of chartered ships to cut leasing rates by May 20, thr...

Updated : 2016.05.04 13:40

Top conglomerates' debt rises 2.5% in 2015

The debt held by Korea's leading conglomerates increased 2.5 percent in 2015 from a year earlier, with five of them logging debt ratios exceeding 200 percent, corporate data showed Wednesday. Accordin...

Updated : 2016.05.04 13:34

Beer companies compete to supply to Chinese tourist parties

Korea's beer companies are competing to supply their products to Chinese tourists whose latest trend is to come here in the thousands and enjoy food parties together. Hite Jinro supplied 4,000 cans of...

Updated : 2016.05.04 13:32

Korea seeks hope in new industries

Concerns are growing that the Korean economy may be drawn into a long-term downturn -- perhaps irreversible -- if it fails to make a swift shift to next generation industries that can prop up its futu...

Updated : 2016.05.04 13:18

[Market Now] Hyundai Rotem seeks to supply trains to Iran

Hyundai Rotem, a Korean manufacturer of railway systems, said Wednesday that it was seeking to sell its diesel multiple unit trains to the state-owned Iranian railway company.In a public filing, the c...

Updated : 2016.05.04 10:13

[Super Rich] Booyoung chairman cements family control

Forbes magazine described business tycoon Lee Joong-keun as “Korea’s richest rental housing developer” when it announced the nation’s top 10 wealthiest persons in March.Lee is chairman of Booyoung...

Updated : 2016.05.03 18:05

[Super Rich] Hong Kong billionaire to push Korean cosmetics in China

Adrian Cheng, 37-year-old scion of the world’s largest jewelry retailer, said he will use his company’s extensive retail network in mainland China to help boost domestic sales of Korean cosmetic pro...

Updated : 2016.05.03 17:37

[Super Rich] Fading fortunes of female chiefs at Hyundai Merchant, Hanjin Shipping

Money-losing Hyundai Merchant Marine and Hanjin Shipping have recently filed for creditor-led rehabilitation programs. There is another thing in common between the two shipping giants. They were led b...

Updated : 2016.05.03 17:36

Oxy RB sales halve as boycott expands

Amid an escalating boycott nationwide, sales of Oxy Reckitt Benckiser, the maker of a harmful humidifier sterilizer, have plummeted by half from a year ago, local retailers said Tuesday.According to d...

Updated : 2016.05.03 17:06