Business News

More Bad Economic News as KOSPI Falls to Almost Two Year Low

Seoul shares fell below the psychologically important 2,000 mark today as foreign and retail investors dumped stocks amid a lack of upside momentum. The won rose against the U.S. dollar. 

Korea Bans Fire-Prone BMW’s Under Recall that Haven’t Been Inspected

A total of 39 engine-related fires in BMW cars, mostly the best-selling 520d sedan, have been reported this year in South Korea. Fortunately, no injuries nor fatalities have been reported thus far.

Vice President of Korea Aerospace Industries Found Dead Amid Scandal Allegations

The Vice President of the troubled Korea Aerospace Industries Co. has committed suicide police said

Kakao to Launch Smart Speaker ‘Kakao Mini’ Later this Month

The company behind South Korea's ubiquitous mobile messenger app KakaoTalk is launching its own smart speaker, the Kakao Mini, will be available for pre-orders later this month.

As Sales Drop 41 Percent in First Half of 2017, Hyundai Replaces CEO in China

The appointment is effective immediately with Tao replacing Chang Won Shin who will return to Hyundai Motor headquarters in Seoul.

AmorePacific Skincare Brands Hit Hard by China-US THAAD Missile Dispute

South Korea's popular skincare giant AmorePacific has seen its profits and sales hammered in China due to the dispute over the housing of American THAAD missiles on Korea soil.

South Korea to Raise Minimum Wage by 16% to 7,530 Won Per Hour – Largest Increase in 16 Years

South Korea’s new president Moon Jae In has won a victory in his bid to increase pay by pushing through a minimum wage increase of 16 percent to 7,530 won ($6.60) per hour. The rise in pay marks the biggest jump since 2001.

Jin Air to Add More Planes to its Fleet as Demand for Low Cost Carriers Increases in Korea

Jin Air in Korea said it will increase its fleet from 22 to 24 airplanes this month to handle increased demand during the summer season.

Korea’s Budget Carrier T’way Air Ranked Number One in Customer Satisfaction Survey

South Korean budget carrier T'way Air has been ranked highest on the Global Customer Satisfaction Competency Index (GCSI) which measures local customer satisfaction.

Daiso to Build $173 Million Logistics Center in Busan to Service Domestic and International Markets

The operator of Korea’s discount retailer Daiso will build a $173 million automated logistics center in Busan.

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