First gold comes from men's archery; Judoka takes surprise silver

South Korea wasted little time picking up its first gold of the Rio de Janeiro Olympics, as the men’s archery team came out on top on the first day of the competition Saturday. The trio of Kim Woo-jin, Ku Bon-chan and Lee Seung-yun defeated the United States team of Brady Ellison, Zach Garrett and Jake Kaminski by the set score of 6-0 at Sambodromo. It was South Korea’s fifth Olympic gold in the men’s team archery event and avenged its loss [...]

KPG members work to enhance EMS service

The Kahala Posts Group, an alliance of 10 postal services, kicked off its 14th annual meeting in Seoul on Wednesday. At the meeting, chief executives from Korea, the United States, China, Japan and six other countries discussed ways to improve the quality of EMS, or express mail service, and exchanged ideas to further develop delivery service for electronic commerce, according to the Korea Post. At the gathering, talks on topping KPG’s 96 percent on-time delivery goal, along with expanding the number [...]

Lotte chairman says 'sorry for causing concern' amid slush fund investigation

The chairman of embattled South Korean retail giant Lotte Group said Tuesday he is “sorry for causing concern” over corruption allegations and pledged to fully cooperate with the investigation. Chairman Shin Dong-bin made the remark to reporters at the groundbreaking ceremony for a joint venture chemical plant in Lake Charles as prosecutors stepped up the investigation into allegations that Lotte created slush funds through illicit means. It was the first time Shin has spoken to the media since the investigation. “I am [...]

LIG SUPPORTS DISABLED SOCCER TEAM — LIG Group and its affiliates donated 70 million won ($62,000) to the Korean Football Association For the Disabled to mark Korea‘s Disability Awareness Day on Wednesday. Group affiliate Huseco CEO Kim Gye-hong (right) poses with KFAD president Nam Young-woo during a ceremony to deliver the funds at the group‘s headquarters in Seoul. LIG has financially supported the soccer association since its founding in 2007. (LIG) Source:

Overseas deals hit record high at Seoul fashion event

A Korean fashion event drew the curtains after achieving a record-high number of export deals from foreign fashion businesses, state data revealed Wednesday. Some 400 international fashion buyers surged to the 2016 F/W Fashion Code hosted by the Korean Ministry of Culture, Sports and Tourism, and jointly organized by the state-run Korea Creative Content Agency and the Council of Fashion Designers of Korea, a private organization. A total of 90 local fashion brands participated in the fifth round of the Fashion [...]

Seoul shares track New York losses

South Korean shares opened 0.68 percent lower on Wednesday following a decline in New York triggered by sliding oil prices. The benchmark Korea Composite Stock Price Index shed 12.91 points to 1,893.69 in the first 15 minutes of trading. The index was trading 1.22 percent lower at 1883.37 points as of 9:45 a.m. Overnight, the Dow Jones industrial average fell 1.8 percent and the NASDAQ lost 2.24 percent after oil prices fell sharply as hopes fell flat for a deal between the [...]