Samsung Electronics Co., the world's largest maker of smartphones, said Tuesday that it does not have an interest in taking over Research In Motion Ltd. (RIM), the BlackBerry maker.The Boy Genius Report, a tech blog, said that RIM is pushing to sell part of its division or even the whole company. It

IndustryJan. 18, 2012

Growth of household loans offered by South Korean depository institutions slowed in November, the central bank said Tuesday, amid the government’s efforts to rein in private sector debt. Household lending handled by local banks and non-bank institutions totaled 638 trillion won ($554.4 billion) as of the end of November, up by more than 3.6 trillion won from the previous month, according to the Bank of Korea. The monthly increase in November was moderate compared with the growth in the previous

Jan. 17, 2012

LONDON (AP) — British scientists have found scores of fossils the great evolutionary theorist Charles Darwin and his peers collected but that had been lost for more than 150 years.Dr. Howard Falcon-Lang, a paleontologist at Royal Holloway, University of London, said Tuesday that he stumbled up

TechnologyJan. 17, 2012

The International Monetary Fund may lower Korea’s growth outlook from current 4.4 percent in its next economic report due April, a government official in knowledge of the fund’s visit to Seoul this week said Tuesday.“A delegation from the IMF was at the Finance Ministry on Monday. I think they might change their growth outlook on Korea as things have changed from last September,” the official said on condition of anonymity. “GDP projection is likely to be dimmed,” he added.A cut in growth outloo

Jan. 17, 2012

More women take up key research positions at major securities companiesWomen are making inroads into the financial sector at a rapid pace, taking up more specialist positions such as fund managers and analysts. According to brokerages and the Korea Financial Investment Association, the proportion of female analysts and fund managers is rising, following the broader trend of the gender gap narrowing in the workplace. The most significant change is taking place in the research divisions of major s

Jan. 17, 2012

Hyundai Group plans to enter the hotel business as it was named the preferred bidder for a controlling stake in Banyan Tree Club & Spa Seoul, a six-star luxury resort in central Seoul, on Monday. Hyundai proposed a bid of 160 billion won ($140 million) to acquire the shares on the condition that the group will pay in several installments. Starting with the potential acquisition, the group said, it would step up efforts to find the new growth engines that Hyundai Group chairwoman Hyun Jeong-eun s

IndustryJan. 17, 2012

Six Korean construction companies are estimated to have secured orders exceeding 10 trillion won ($8.7 billion) in 2011 due mainly to increased overseas contracts, industry sources said Monday.POSCO Engineering & Construction Co., GS E&C and Daewoo Engineering & Construction Co. ranked in the top three in terms of orders won, with Samsung C&T Corp., Hyundai Engineering & Construction Co. and Daelim Industrial Co. also faring well, they said.“POSCO orders surged by 3 trillion won to around 14.4 t

IndustryJan. 17, 2012

The chief of a panel on shared growth on Tuesday lashed out at large conglomerates for boycotting discussions on sharing profits with their smaller partner companies.Former Prime Minister Chung Un-chan who heads the commission for shared growth said the business giants were “neglecting their social responsibility” as they refused to show up at the panel’s first meeting this year.Of the 25 members of the commission, nine representing the large companies did not attend the meeting Tuesday.“We have

IndustryJan. 17, 2012

South Korean stocks ended 1.8 percent higher Tuesday as investors shrugged off recent eurozone sovereign downgrades and snapped up shares of blue-chip banks and exporters, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark KOSPI soared 33.47 points to 1,892.74. Trading volume was heavy at 426.6 million shares worth 5.91 trillion won ($5.16 billion), with gainers outnumbering losers 553 to 269.Foreigners scooped a net 393.3 billion won worth of shares, extendi

Jan. 17, 2012

Samsung Electronics said Tuesday that it will begin producing 46-inch transparent liquid-crystal displays by the end of this month, becoming the world’s sole manufacturer of such displays.The new transparent display, the second attempt made by the global IT giant, is currently expected to be placed in refrigerator doors with the cooperation of some U.S. firms, according to Samsung officials.Locally, the 46-inch displays will also be installed as the screen doors for the subway stations on subway

IndustryJan. 17, 2012

Mobile network carriers will be obliged to warn consumers about a potential “bill shock” from July as part of a revision to telecommunication law that took effect on Tuesday. With the rapid adoption of data-heavy smartphones here, consumers have complained about damages from expensive data rates in excess of their fixed-bill plans. Even though local telecom operators have carried out safety measures voluntarily to prevent consumer damages, now such efforts have become legally binding from July 1

IndustryJan. 17, 2012