[Photo News] Kia in Paris Show

Michael Cole, chief operating officer at Kia Motors Europe, attends a news conference on the media day at auto show Mondial de l‘Automobile in Paris, France, Thursday. (Reuters-Yonhap)

Seoul stocks slide on Deutsche Bank concerns

South Korean stocks fell Friday as investors were spooked by the financial stability of German banking giant Deutsche Bank. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index declined 25.09 p...

Foreign smartphone makers set to eat into Samsung‘s lead in Korea

Foreign smartphone-makers are speeding up their expansion in the Korean market long dominated by local brands Samsung Electronics and LG Electronics. A string of foreign smartphone brands Apple, Huawei, Sony and Blackberry have re...

Posco Daewoo inks MOU with Chinese grain firm

Posco Daewoo signed a memorandum of understanding with Chinese state-run grain company Sichuan Cereals and Oils Group as part of its moves to expand the grain trading business in China, the company said Friday. The two parties agr...

Autos drag down South Korea’s industrial output in August

South Korea’s industrial output in August shrank for the first time in four months, dragged down by a double-digit drop in production of automobiles due mainly to an ongoing labor strike, government data showed Friday. Auto produ...

[Photo News] Park meets softbank chief

South Korean President Park Geun-hye (right) meets Masayoshi Son, the chairman of Japanese telecommunications giant SoftBank Corp., to discuss bilateral cooperation on investments and new industries at Cheong Wa Dae on Friday. (Yo...

DSME denies rumors of capital reduction plan

Financially troubled Daewoo Shipping and Marine Engineering on Friday denied the rumor that the company would reduce its share capital as part of moves to improve its financial status. The ailing shipbuilder made a public announce...

Internet-only bank seeks gov't approval for service

South Korea's financial regulatory body said Friday it will soon decide whether to issue a permit for the nation's first online-only bank.Two consortiums, one led by KT Corp. and the other by Kakao Corp., are preparing to enter th...

Gov't urges Seoul to adopt performance-based wage system

The South Korean government on Friday urged Seoul city to adopt a performance-based wage system for the organizations under it, adding the change is necessary to make public bodies more competitive.The Ministry of the Interior, as...

Korea-China flights highly booked during China's holiday period

South Korean air carriers have reached nearly 90 percent in reservation rate on flights to and from China for two weeks as Chinese travelers come to Korea during a long public holiday, industry officials said Friday.Officials expe...

Samsung Heavy bags 420 bln-won deal for 2 LNG carriers

Samsung Heavy Industries Co., a major South Korean shipyard, said Friday it has secured a 420 billion-won ($380 million) deal to build two LNG carriers, marking the first contract in almost one year.The deal with a European custom...

Some 670,000 households unable to pay electricity bill: report

Some 670,000 households were unable to pay their electricity bill this year as of July, a report from the state energy supplier showed Friday, a tally that may increase after record summer heat is estimated to have jacked up the b...

Top leaders of Samsung, SoftBank discuss IoT cooperation: sources

Top leaders of Samsung Electronics Co. and Japanese telecommunications giant SoftBank Corp. met in Seoul Thursday to discuss cooperation in areas including Internet of Things technology, sources said.Lee Jae-yong, vice chairman of...

[Graphic News] Korea’s childbirths and marriages drop in July

South Korea saw a steep drop in the number of childbirths in July, amid rising concerns over the fast aging society, data showed Wednesday.About 33,900 babies were born here in July, a 7.4 percent on-year decrease from 36,600 last...

Hanmi Pharmaceutical inks $910 mln tech export deal

South Korea's leading drugmaker Hanmi Pharmaceutical Co. said Thursday that it has signed a $910 million deal with Zentec Pharmaceuticals to export the technology for its self-developed anti-cancer substance.The deal calls for Han...