Lotte Hotel Moscow won “The best city hotel in Russia 2014,” the company said on Thursday.The award is the most prestigious and exceptional accolade in the travel industry, given by Conde Nast Traveller, the top world travel magazine. This makes the 3rd consecutive time that Lotte Hotel Moscow rece
Market experts expect new Galaxy S6 orders to hit over 55 million units this year. Global market analysis provider DRAM eXchange says that Samsung Electronics Co. will sell 20 percent more phones than its previous estimates for the shipment of the Galaxy S6 and S6 Edge. This latest premium smartphon
The Canada Beef International Institute (CBII) held “The Canada Beef Press Conference” yesterday in the Plaza Hotel in Seoul. CBII is the national marketing organization that markets and promotes Canadian beef and veal worldwide. To establish strategic partnerships with Korea it is devoted to facili
IKEA charges higher prices in Korea, the Consumers Union of Korea (CUK) reported today. After surveying 49 IKEA products traded across the world, the civic group found that the local prices are the second highest in South Korea after Sweden among 21 OECD member nations. And it added that roughly 90
After Wednesday's talks in Kaesong, South Korean businessmen are expecting something positive, saying that the talks were quite productive. Although North Korea rejected a petition from them, the 14 South Korean businessmen said that they will hold similar meetings in the future. They met with Pak
Fourteen South Korean businessmen departed for North Korea's border town of Kaesong on Wednesday morning, as concerns grew over unilateral demands from North Korea.Recently the North has demanded to raise the minimum wage for its workers at the Kaesong Industrial Complex from US$70.35 to $74, and al
Korea Federation of Textile Industries (Chairman Sung Ki Hak) is conducting a 'Preview in China 2015' at the China International Clothing & Accessories Fair (CHIC) from March 18th to 20th.CHIC is the largest and most influential fashion fair in the Asia-Pacific region at which over 1000 brands from
President Park Geun-hye, in a meeting with rival party leaders at the Blue House, asked for bipartisan cooperation to revive the economy on Tuesday.Addressing her recent Middle East trip, Park said that it is essential for the 3 parties to cooperate to implement the deals signed in the Middle East,
A senior human rights investigator at the United Nations issued a report on North Korea’s kidnapping of numerous foreign nationals. Marzuki Darusman, U.N. Special Rapporteur for human rights in North Korea, addressed the UN Human Rights Council in Geneva on Monday, saying that more than 200,000 peop
Yesterday the Korean government opened its seventh innovation center in Korea's second largest city, Busan. President Park Geun-hye attended the opening ceremony of the Busan Center for Creative Economy & Innovation located in Centum Green Tower in Haeundae. The Ministry of Science, ICT and Future P
The first shareholder meeting of Samsung since Chairman Lee Kun-hee fell ill last May and his only son became de facto commander-in-chief was held on March 13. Though Vice Chairman Jay Y. Lee’s name is not on the list of the board of directors, the meeting format was modified a little at his directi
A hacker that had leaked data belonging to the country’s state-run nuclear operator last December made another threat on Thursday. Demanding money in exchange for not derailing those plans by selling sensitive information to third parties, he posted documents that appear to be partial blueprints of
South Korea is looking to launch a new halal food agency. To advance into one of the biggest food markets in the world, the Korean government took the first step of a recent MOU between Korea and the United Arab Emirates. And based on this MOU, the Ministry of Agriculture, Food and Rural Affairs tod
South Korea's central bank unexpectedly slashed its key interest rate by a quarter of a point to a record low of 1.75 percent on Thursday. It is reportedly to prevent the nation from falling into deflation and to support economic growth. Even at the expense of spurring household debt, which was alre
Another controversial issue raised by North Korea is fueling the growing tension between North and South.It was last month that the North announced a unilateral decision to raise the minimum wage from US$70.35 to $74 starting in March. It also said it would collect 15 percent of the workers' basic w
As the Korea-China free trade agreement was initiated late last month, the South Korean government set up a new help center to fully utilize the bilateral FTA.The so-called China Desk will help local businesses, especially small and medium-sized companies, to fully take advantage of the benefits of
Brand consulting group Interbrand announced on March 10 that the total brand value of the 50 major brands in Korea is equivalent to 125.155 trillion won (US$110.894 billion). Samsung Electronics accounted for 50.9715 trillion won (US$45.1557 billion) of that, followed by Hyundai Motor Company (11.67
It has been shown that there is a little difference in the performance of large refrigerators, depending on the surrounding temperature. And under testing, Samsung products performed relatively better to those of Dayou-Winia and LG Electronics in storage performance and monthly power consumption in
The Korea Exchange announced on March 10 that institutional investors sold KOSPI shares worth 203.7 billion won (US$180.6 million) that day, to continue net sales for the ninth consecutive trading day. Their net selling amount in the KOSPI reached 1.5334 trillion won (US$1.3591 billion) for the nine
The Korea Advanced Institute of Science and Technology (KAIST) announced on March 10 that its research team led by biotech professor Lim Sung-kap and electrical and electronics engineering professors Yu Seung-hyup and Jo Byung-jin have developed a very thin, flexible, yet thickness-maintaining polym