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Scandalized FKI to be abandoned by banks. (Photo by Pool/Getty Images)

Dec 10, 2016 AM EST - Fraeraine

Scandalized FKI to be Abandoned by Banks

It seems like the country's biggest business lobby group, Federation of Korean Industries (FKI), is bound to fall apart as bank members, along with conglomerate members, are taking their exit one by one.

Audi Volkswagen faces $31 million fines for doing false advertising. (Photo Credit: Getty Images)

Dec 07, 2016 AM EST - Fraeraine

Audi Volkswagen Faces $31 Million Fines For Doing False Advertising

Audi Volkswagen Korea faces 37.3 billion won ($31 million) fines for doing false advertisements. The company was recently under fire for fabricating the emission results of their cars to pass local standards.

LG Electronics, which was previously headed by 3 co-CEOs, is now led by Cho Sung-jin as a sole CEO.

Dec 02, 2016 AM EST - Fraeraine

LG Electronics Promoted Cho Sung-jin As Sole CEO

The nation's second-largest electronics maker, LG Electronics, recently changed its corporate management system. The company, which was previously headed by 3 co-CEOs is now led by Cho Sung-jin as a sole CEO. Cho Sung-jin, a former Home Appliance and Air Systems (H&A) business head is now being promoted to vice chairman and was even name as the company's new sole CEO.

LG's new air purifier and conditioner were unveiled to the public on Thursday.

Nov 18, 2016 AM EST - Fraeraine

LG’s New Air Purifier and Conditioner Released in the Market

LG recently unveiled its solution to growing concerns about indoor pollution. LG's new air purifier and conditioner were unveiled to the public on Thursday, November 17. According to the company, their latest premium their answer to the rising demand for air solutions products.

As part of the electronic company's corporate social responsibility, Samsung will provide a

Nov 11, 2016 AM EST - Fraeraine

Samsung to Provide ‘Smart School’ Program to 14 Institutions

As part of the electronic company's corporate social responsibility, Samsung will provide a "Smart School" Program to 14 selected institutions.

Samsung brings back flip phones with Galaxy Folder 2.

Nov 09, 2016 AM EST - Fraeraine

Samsung to Recall Washing Machines in North America

With regards to the decision of the U.S Consumer Product Safety Commission (CPSC), Samsung to recall washing machines in North America.

Samsung Electronics HQ raided over Choi Soon-sil scandal on Tuesday, November 7.

Nov 08, 2016 AM EST - Fraeraine

Samsung Electronics HQ Raided Over Choi Soon-sil Scandal

Samsung Electronics HQ was raided over the Choi Soon-sil scandal on Tuesday, November 7. Prosecutors raided the offices in charge of external affairs in southern Seoul. This is in relevance to the Choi Soon-sil scandal that has been rocking the country today.

A European tourism giant considers Busan for a new business opportunity.

Nov 04, 2016 AM EDT - Fraeraine

European Tourism Giant Considers Busan for a New Business Opportunity

Pierre & Vacances, a European tourism giant considers Busan for a new business opportunity. According to a reliable source, the said French company is currently eyeing Korea's southern coastal city of Busan for a property development project. The said company was all praises for Busan, said the source, during a recent roundtable meeting with the city's government officials. Busan holds a lot of potential in terms of tourism, said the company. The company even asked the officials to help them find financial investors for the upcoming project.

Lotte Hotel & Resorts (Photo by Chung Sung Jun/Getty Images)

Nov 07, 2016 AM EST - Fraeraine

SIWA to Raise Funds Through Annual Charity Bazaar

The Seoul International Women's Association (SIWA) will hold its annual charity bazaar this November 14, 2016, at the Lotte Hotel in downtown Seoul. The official announcement that SIWA to raise funds through annual charity bazaar was made on Wednesday, November 2, by the association.

Lee Jae Yong joins Samsung Board, officially appointed as member of the Board of Directors.

Nov 01, 2016 AM EDT - Fraeraine

Lee Jae Yong Joins Samsung Board, Officially Appointed as Member of the Board of Directors

Lee Jae Yong joins Samsung board. The heir to Korea's top electronics company was officially appointed as a member of the company's Board of Directors. The appointment of Lee Jae Yong was approved by the company's shareholders as Samsung Electronics reported. The appointment happened in an extraordinary general meeting held at the company's Seocho office building in Seoul last Thursday, October 27, 2016.

Lee Jae Yong joins Samsung Board, officially appointed as member of the Board of Directors.

Oct 27, 2016 AM EDT - YuGee

Samsung Reveals 30% Drop in Profit for the 3Q

Samsung Electronics Co. announced that its third-quarter operating income dropped to 29.6 percent from the previous year. One of the contributors to this plunge is believed to be discontinuation of the production of the Galaxy Note7 over safety concerns.

An attendee walks past Korea Electric Power Corp. (Kepco) signage displayed at the 22nd World Energy Congress (WEC) in Daegu, South Korea, on Monday, Oct. 14, 2013. The WEC, a global conference on the energy market, will run until Oct. 17. Photographer: S

Oct 27, 2016 AM EDT - YuGee

KEPCO to Hold International Energy Expo in Gwangju

South Korea's lone power distributor, the Korea Electric Power Corporation (KEPCO), will hold an international energy exhibition in November in the city of Gwangju. The event will highlight modern electricity technology and discuss more extensive cooperation with other countries in the field of energy, a report from the Korea JoongAng Daily stated.

Hyundai Motor’s New Grandeur Sedan

Oct 28, 2016 AM EDT - Fraeraine

Hyundai Motor’s New Grandeur Sedan to Hit the Market Next Month

Hyundai Motors finally unveiled to the public the new image of their flagship model, Grandeur. After six years of design modification, the nation's largest automaker is very proud to present Hyundai Motor's new Grandeur Sedan which is set to hit the market next month.

A South Korean employee works to provide replacement Samsung Galaxy Note7 smartphones at a telecommunications shop in Seoul on September 19, 2016. Samsung started on September 19 to provide users of its Galaxy Note 7 smartphone the first batch of replacem

Oct 25, 2016 AM EDT - YuGee

Samsung Offers Discounts To Note 7 Owners

Samsung Electronics is offering 50 percent discounts to previous Galaxy Note7 users who replaced their units to the Galaxy S7 smartphone or Galaxy S7 Edge, and who are also planning to upgrade their devices to the upcoming S8 or Note8 in 2017.

Hyundai Heavy Industries Closed a Multi-billion Deal

Oct 25, 2016 AM EDT - Fraeraine

Hyundai Heavy Industries Closed a Multi-billion Deal from the Philippines

On Monday, October 24, 2016, Hyundai Heavy Industries closed a multi-billion deal from the Philippines. Hyundai Heavy Industries (HHI) announced on Monday that they were able to win a 370 billion won, or $322 million US dollars, contract to build two 2,600-ton frigates for the said Southeast Asian country.

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