Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Job creation lowest on record among under-30s
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Opposition chief acquitted of instigating perjury
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After raid, Google vows cooperation with Korea's anti-trust probe
WASHINGTON (Yonhap) -- Google Inc. said Tuesday that it will cooperate with South Korea's investigation into its alleged unfair business practices, as reports said the local authorities raided the firm's Seoul offices.South Korea's Fair Trade Commission (FTC) raided the offices earlier in the day as
IndustrySept. 7, 2011
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Kookmin Bank secures $100m FX credit line
South Korea’s top lender Kookmin Bank has recently inked a $100 million foreign currency committed line with an overseas financial firm, sources said Tuesday, joining other banks seeking to diversify their foreign funding.Kookmin is also in talks with other foreign financial companies to expand its
Sept. 6, 2011
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Korea faces high inflation, growing uncertainties
South Korea is faced with growing inflationary pressure and expanded economic uncertainties stemming from worries over a global slowdown, the Finance Ministry said Tuesday.“Our economy is confronted with fast accelerating inflation that stands in the 5 percent range with some latest indicators falte
Sept. 6, 2011
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SK Networks may sell school uniform business
SK Networks is seeking a buyer to take over its uniform business, local media reported Tuesday.According to reports citing an unidentified SK Networks official, the company is looking for a buyer, and a number of potential buyers conducted preliminary due diligence on the matter last week.The compan
IndustrySept. 6, 2011
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Merck showcases solar materials in Germany
Merck KGaA, a multinational pharmaceutical and chemical group, said Tuesday it is showcasing its newest components of a solar power system at a tradeshow in Germany this week.About 950 companies and organizations from more than 100 countries gathered in Hamburg to catch up on the latest trends and d
IndustrySept. 6, 2011
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Retail giants agree on commission cut
The Fair Trade Commission said Tuesday that major retailers have agreed to lower the commission they charge traders who use their floor space from October.According to the antitrust regulator, FTC chairman Kim Dong-soo and 11 CEOs of department stores, discount chains and home-shopping channels reac
IndustrySept. 6, 2011
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Real income growth lowest in 2 years
Korea’s economic growth slightly up from estimate thanks to public spendingKoreans saw the growth rate of their purchasing power fall to a two-year low during the second quarter of 2011, though the index inched up.The Bank of Korea said Tuesday that the gross national income inched up 0.6 percent to
Sept. 6, 2011
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Korea now 7th-largest builder
South Korea took up the seventh position in the global construction market in terms of combined orders won by its builders last year, a trade association said Tuesday.The Korea Federation of Construction Contractors said South Korea’s 11 construction firms clinched a combined market share of 4.8 per
IndustrySept. 6, 2011
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Airlines to hire record number of staff
Korean Air and Asiana Airlines, Korea’s two plan to hire a record number of new employees this year.Korean Air said Monday it will add 330 new crew members to the 1,000 already hired in the first half of the year to smooth operation of new aircraft and routes.Asiana plans to bring in 465 young skill
IndustrySept. 6, 2011
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Banks told to slash...rates on overdue loans
The Financial Supervisory Service said Tuesday that it would ease the burden on consumers by instructing banks to slash additional interest rates on overdue loans.The measure comes as part of the regulator’s policy to enhance consumer rights while low- and middle-income households suffer from high a
Sept. 6, 2011
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‘Integration of supply chain key to meat exports’
HORSENS, Denmark ― For struggling local red meat producers in the post-Korea-EU FTA market, the surest way to seek advice was to go to Danish Crown, Europe’s top pork exporter that continues to expand despite one of the world’s highest production costs.At the Danish livestock farmer co-op’s slaughte
IndustrySept. 6, 2011
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‘Samsung moves to adopt new 3-D display technology’
An LG executive said Tuesday that the firm’s rival Samsung Electronics is moving away from the active 3-D display technology and develop its own “passive” technology for its TVs.The executive, who wished to remain unidentified, said that Samsung will adopt the passive 3-D technology although it will
IndustrySept. 6, 2011
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Cutting-edge gadgets highlight at IFA 2011
KT, Sony, Toshiba unveil future-oriented wireless gadgets at world trade showBERLIN ― This year’s IFA was highlighted with new and trendy gadgets ranging from a digital gadget that could inter-connect multiple gadgets to electronic devices that spread the use of 3-D.KT Corp., the country’s top fixed
IndustrySept. 6, 2011
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UK officials may take 4 obese kids into custody
(MCT)LONDON (AP) -- Scottish officials say they may take four heavy children away from their parents after warnings to help their kids trim down have apparently failed.The children are aged one to 11. The parents are obese and have three older children who are also heavy. For the past two years, the
TechnologySept. 6, 2011
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Small car sales rise to year high on economic worries
Small automobile sales rose to a year high in August boosted by rising fuel prices and concerns for a new worldwide economic downturn.According to industry data, 38,698 small vehicles were sold on the local market in August, accounting for 53.5 percent of passenger car sales. Small automobiles are d
IndustrySept. 5, 2011
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Hyundai, Intel, C&S to develop mobile entertainment system
Hyundai Motor Co., the largest carmaker in the country, on Monday agreed with Intel Korea and C&S Technology Ltd. to jointly develop infrastructure needed to deliver new channels of entertainment to drivers.The three plan to put together In-Vehicle Infotainment system enabling drivers to access out-
IndustrySept. 5, 2011
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Amore Pacific eyes W500b ‘mega brands’
Amore Pacific Corp. on Monday held a ceremony marking the company’s 66th anniversary, renewing its long-term target to nurture “mega brands” with more than 500 billion won ($468 million) in annual sales. “We have succeeded in having brands whose annual sales exceed 100 billion won. And now is the ti
IndustrySept. 5, 2011
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Seoul sets up coordinator for arms exports
The government on Monday unveiled a new planning body for the country’s growing defense industry to boost exports of military equipment and speed up the regulatory process.South Korea’s defense and economy ministries joined forces to craft the Defense Industry Development Council, which originated f
IndustrySept. 5, 2011
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12 savings banks on close watch list
FSS warns that the banks may be subject to business suspensionAt least 10 savings banks have been on the close watch list of financial regulators for their poor financial statements, officials said Monday.As a “prior warning” to the industry, the Financial Supervisory Service has reportedly informed
Sept. 5, 2011
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Foreign investors dump W6tr of shares in Aug.
Foreign investors dumped nearly 6 trillion won ($5.6 billion) worth of South Korean stocks in August amid the first-ever U.S. credit cut rating and continued fears of Europe’s debt crisis, the financial regulator said Monday.Overseas investors sold a net 5.9 trillion won of local equities in August,
Sept. 5, 2011
