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Updated: 2 hours 26 min ago

Free medical checkup

Sun, 10/29/2017 - 05:31
A doctor examines an elderly patient at a makeshift medical facility in Papua, Indonesia, Friday. In cooperation with Korea University Hospital and local NGO Byso Nanum Maul, POSCO Daewoo, steelmaker POSCO’s trading and resources development arm, organized the volunteer program from Oct. 21 to 27. The program is for people suffering from a range of illnesses in the Southeast Asian nation. / Courtesy of POSCO Daewoo

Hanon Systems expands in China

Sun, 10/29/2017 - 05:31
Hanon Systems has established a joint venture with China South Industries Group Corp. (CSGC), to enter the world’s largest automobile market. Korea’s largest manufacturer of air-conditioning and heating systems for vehicles said Sunday it signed a joint venture deal with CSGC’s two affiliates _ Chongqing Jianshe Motorcycle and Chongqing Jianshe Mechanical and Electrical Equipment _ last week.

Samsung Display tightens OLED leadership

Sun, 10/29/2017 - 05:31
This year marks a tenth anniversary since Samsung Display commercialized the organic light-emitting-diode (OLED) display. Succeeding in mass-producing the world’s first OLED displays in 2007, Samsung’s display affiliate has continued investing in the display for smartphones. “The OLED drive was initiated back in the early 2000s when Samsung was making group-wide efforts to find the 'post liquid crystal display (LCD)’ era,” a company official said.

3rd-generation tycoons proficient in English

Sun, 10/29/2017 - 05:31
English capabilities are essential for young tycoons to gain global fame, opening up more opportunities for them to promote their businesses on various international stages. This is the case for the nation’s leading business magnates for conglomerates such as Samsung, Hyundai and CJ. They include Samsung Group heir Lee Jae-yong, Hyundai Motor Vice Chairman Chung Eui-sun and CJ Group Chairman Lee Jae-hyun.

Demand for packaged kimchi on the rise

Sun, 10/29/2017 - 05:31
The market for packaged kimchi is growing rapidly along with the increase in single and two-member households, according to industry data on Sunday. Major packaged kimchi producer Daesang said the domestic market for packaged kimchi was expected to reach 1.39 trillion won ($1.22 billion) in 2017 from 1.27 trillion won in 2016. The market for the product for business use is 979.3 billion won. For home use it is 293.1 billion won.

POSCO sets model in corporate culture

Sun, 10/29/2017 - 05:31
POSCO has fostered a family-friendly corporate culture over the past 49 years. The nation’s top steelmaker has offered houses to its employees from the early stages of the company, in line with the management philosophy of the late founder Park Tae-joon. It launched a labor-management council in 1997, so as to solve employees’ problems.

Weird English spelling of Koreans' names

Fri, 10/27/2017 - 07:21
A number of Korean celebrities, from business circles to politics, use eccentric English spelling of their names. They include Korea Development Bank Chairman Lee Dong-gull, a powerful financial expert who is in charge of many corporate restructuring programs, former presidential secretary Woo Byung-woo, and former Secretary-General of the United Nations Ban Ki-moon.

Chips represent 16 percent of 2017 exports

Fri, 10/27/2017 - 07:21
Semiconductor exports are on pace to hit the highest volume of the nation¡?s annual exports this year amid soaring memory chip demand. According to industry data Friday, Korea’s chip exports, driven by strong performances of Samsung Electronics and SK hynix, were valued at $70.4 billion (79.5 trillion won) as of September, up 56.5 percent from a year earlier. The amount accounted for 16.4 percent of the nation¡?s total exports of $430.1 billion, becoming the No. 1 export product.

FTC shows mixed reaction to franchise reform plans

Fri, 10/27/2017 - 07:21
Fair Trade Commission (FTC) Chairman Kim Sang-jo mentioned both the pros and cons of plans to reform the franchise industry, which were announced by the Korea Franchise Association (KFA), Friday. The head of the nation’s antitrust watchdog attended a press conference on the announcement of the reform plans at K-Biz office in Seoul the same day. Kim told reporters that he commends the KFA for deciding to suggest franchisers organize a council for franchisees, disclose more information on essential items for businesses and guarantee franchisees’ rights to ask for the renewal of contracts.

Does GM cheat South Korea?

Fri, 10/27/2017 - 07:21
Growing concerns over an abrupt withdrawal of General Motors (GM) from Korea have been used as a diplomatic tool by the United Sates which is seeking an advantage in renegotiations of a free trade agreement with Korea, an expert in the auto industry told The Korea Times, Friday. Automotive engineering professor Kim Phil-soo at Daelim University said the U.S. carmaker appears to be spreading the rumor to press the Korean government to ease regulations on emission and safety. “GM will not leave Korea soon,” he said. “Even if it decides to exit here, it will take at least five years.”

Korean Series becomes battlefield of tiremakers

Fri, 10/27/2017 - 07:21
The hotter the Korean Series baseball championship fever heats up, the fiercer the competition between the nation’s two top-tier tiremakers becomes. The trademarks of Hankook Tire and Kumho Tire are on the Doosan Bears and Kia Tigers uniforms, respectively. Tire industry officials therefore called this year’s Korean Series the “Tire Match,” instead of the “Dangun Match.”

Preparing for Christmas

Fri, 10/27/2017 - 07:21

Sejong Univ. to host human vs. AI StarCraft match next week

Fri, 10/27/2017 - 07:21
Sejong University will host the first human vs. artificial intelligence (AI) StarCraft match next Tuesday. The match will take place 1 p.m. to 4 p.m. in the school’s Student Union Building. The global no.1 StarCraft AI _ Australia’s ZZZK _ and no.2 TSCMO of Norway will compete in the upcoming match.

P&G, Coupang run special Olympics promotion

Fri, 10/27/2017 - 07:21
Coupang has teamed up with Procter & Gamble (P&G) Korea to run a special promotion event here by the end of this year. This comes as part of the “Thank You, Mom” campaign run by the U.S.-based consumer goods giant. P&G Korea organized the promotion to promote the PyeongChang Winter Olympics next February. Its parent company P&G is an official sponsor of the International Olympics Committee.

LSIS establishes solar plant in Japan

Fri, 10/27/2017 - 07:21
LSIS has completed a solar plant in Japan, widening its global presence as a leading energy storage system (ESS) manufacturer. The Korean electric equipment maker said Thursday it held an opening ceremony for the Chitose Solar Plant in Hokkaido. The 28-megawatt plant is the largest in the country’s northernmost island, according to LSIS.

Smartphone makers lose earphone jacks at own peril

Fri, 10/27/2017 - 07:21
It has become a trend for smartphone manufacturers to drop earphone jack ports from their flagship lineups. Although some call the earphone jack-less phones an evolutionary process in the mobile world, many others accuse them of limiting consumers’ choice to sell their expensive wireless earphones and other accessories. Chinese smartphone maker Huawei has become the latest to join the trend as its new handset Mate 10 came without the port.

SK hynix posts record operating profit in Q3

Fri, 10/27/2017 - 07:21
SK hynix continues to renew its all-time high quarterly operating profit amid surging demand for chips as the Korean company posted an operating profit of 3.73 trillion won ($3.31 billion) in the third quarter of the year Thursday, climbing 415 percent year-on-year. In addition, the world’s second-largest chipmaker’s revenue in the July-to-September period also reached a record 8.1 trillion won, a 91 percent jump from a year ago.

SK hynix posts record operating profit in Q3

Fri, 10/27/2017 - 07:21
SK hynix continues to renew its all-time high quarterly operating profit amid surging demand for chips as the Korean company posted an operating profit of 3.73 trillion won in the third quarter of the year Thursday, climbing 415 percent year-on-year.

KT unveils marine safety devices

Fri, 10/27/2017 - 07:21
BUSAN _ KT unveiled two marine safety systems Wednesday, tightening its leadership as the nation’s widest network coverage operator. The maritime security network is one of the mobile carrier’s five growth areas. The company is using its satellite long-term-evolution (LTE) network systems to operate the coastline service. On the sidelines of this year’s Marine Week 2017 exhibition here, the company unveiled the Marine Navi anti-collision system. By combining the LTE network with closed circuit television (CCTV) on a boat, the system displays maritime information, preventing vessels from colliding.

Philip Morris, BAT to hike prices of heat-not-burn e-cigarettes

Fri, 10/27/2017 - 07:21
Multinational tobacco companies selling heat-not-burn (HNB) e-cigarettes are set to raise prices as the National Assembly moves closer to hiking taxes on this new type of cigarette. When materialized, this would adversely affect millions of smokers who have switched from standard cigarettes over the past few months to those that its makers say produces 90 percent less harmful chemicals. Philip Morris International (PMI) Korea, headed by CEO Chong Il-woo, and British American Tobacco (BAT) Korea, headed by CEO Matthieu Juery, have been refraining from publically discussing what they call the “inevitable” price hike.