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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Household debt keeps rising
Household loans extended by South Korea’s financial institutions are set to jump by more than 5 trillion won ($4.66 billion) in August, an unusually high figure for a month of slow home debt, data showed Wednesday.Financial authorities said household debt between Aug. 1-26 already reached 4.9 trilli
Aug. 31, 2011
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‘Humidifier disinfectants might have caused fatal lung disease’
Health authorities said Wednesday that disinfectants used to clean humidifiers might have caused a fatal lung disease which killed four people, including two pregnant women. The Korea Centers for Disease Control and Prevention advised people to refrain from using humidifier disinfectants in a bid to
TechnologyAug. 31, 2011
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Samsung promises early payments to suppliers
Samsung Group said Wednesday it plans to pay its bills worth 1.14 trillion won ($1.07 billion) early to its subcontractors ahead of one of the country’s biggest holidays.The announcement came as the group unveiled a plan to boost domestic consumption and help workers prepare smoothly for Chuseok on
IndustryAug. 31, 2011
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More Koreans buy luxury products
Korea’s high-end product markets expected to grow further in next 5 yearsKorean consumers’ love for luxury goods may have exceeded that of the Japanese, research found Wednesday.Koreans consumed 5 percent of their per capita income on high-end products, compared to 4 percent of the Japanese, accordi
IndustryAug. 31, 2011
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GM Korea vows to attain double-digit market share
GM Korea has resolved to secure more than 10 percent of the local market on a yearly basis, unveiling its plan to launch new models of the Chevrolet series. Mike Arcamone, president and CEO of General Motors’ local unit, stressed that the automaker could see “double-digit market share” in Korea at t
MobilityAug. 31, 2011
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NTS investigates 38 cases of offshore tax evasion
The National Tax Service said Wednesday that it is investigating 38 people suspected of stashing personal wealth abroad for tax evasion. The large-scale probe came after the taxation agency for the first time in June had asked some 2,000 individuals to voluntarily report their overseas assets worth
Aug. 31, 2011
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Lending controls invite resistance from banks
Credit card firms also voice discontent with regulatory policiesUneasiness and skepticism over the financial regulators’ policy to curb household loans are growing in the banking sector and among think tanks.While the Financial Services Commission plans to unveil additional measures to curb househol
Aug. 31, 2011
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SC First Bank to keep 42 branches shuttered until strike ends: CEO
The head of SC First Bank said Wednesday that the lender will not re-open 42 temporarily shuttered branches until the ongoing labor strike comes to an end.More than 2,500 unionized workers at the South Korean unit of Standard Chartered Plc. has been on strike since late June, the longest walkout in
Aug. 31, 2011
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KDB to manage Mongolian bank
South Korea’s state-run Korea Development Bank said Wednesday that it has signed a contract with the Development Bank of Mongolia to manage DBM for four years.Under the deal inked in Ulan Bator Tuesday, KDB will build an overall business operating system for DBM and take charge of its development fi
IndustryAug. 31, 2011
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Automation in the air dulls pilot skill
WASHINGTON (AP) _ Are airline pilots forgetting how to fly? As planes become ever more reliant on automation to navigate crowded skies, safety officials worry there will be more deadly accidents traced to pilots who have lost their hands-on instincts in the air.In this June 14, 2009 file photo
IndustryAug. 31, 2011
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Sony shows wearable 3-D personal theater
TOKYO (AP) _ Sony is launching a head mounted display that provides a three dimensional theater of music videos, movies and games. Head Mounted Display “Personal 3D Viewer” (HMZ-T1) (www.Sony.net)Sony Corp. showed the 60,000 yen ($800) ``HMZ personal 3-D viewer‘’ Wednesday. The machine is set to go
TechnologyAug. 31, 2011
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Mandarin Chinese most useful business language after English
Mandarin, China’s official tongue, is also the top language worldwide for business other than English, according to Bloomberg Rankings.Mandarin, spoken by 845 million people, scored highest in a ranking of languages, excluding English, based on business usefulness. The ranking scored languages accor
Aug. 31, 2011
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Samsung Electronics to spend over W10tr on R&D this year
Samsung Electronics Co., the world’s largest memory chipmaker, may spend over 10 trillion won ($9.3 billion) on research and development this year as part of efforts to enhance its global competitiveness, sources said Tuesday.In the first half, the company’s R&D expenditures totaled 4.98 trillion wo
Aug. 30, 2011
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Companies’ H1 profits slip on global slowdown
The first half net profit of some of the country’s largest companies dropped more than 7 percent from a year ago, while one in 10 companies posted net losses, damped by global economic slowdown, data showed Tuesday.According to the Korea Exchange and the Korea Listed Companies Association, the combi
Aug. 30, 2011
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Samsung to aid retired cancer-diagnosed workers
Samsung Electronics announced Tuesday it will support the treatment costs of workers at semiconductor and liquid crystal display manufacturing lines if diagnosed with cancer within three years of retirement.The company said it will pay the patient’s treatment costs for 10 years and provide 100 milli
IndustryAug. 30, 2011
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Hyundai Group drops libel suit against Hyundai Motor Group
Hyundai Group said Tuesday that it has decided to withdraw its lawsuit against Hyundai Motor Group in a sign of a thaw in their relations, long sour since an acquisition battle for Hyundai Engineering & Construction Co.In November, Hyundai Group filed a libel suit against Hyundai Motor for publishin
IndustryAug. 30, 2011
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Medium-sized builders face crisis
Troubled Prime Group companies headed for workout programThe fates of Prime Development Co. and affiliate Sam An Corp. will be decided Friday with their creditors set to decide on whether to allow them to begin debt workouts, sources said Tuesday.According to industry sources, Nonghyup and other cre
IndustryAug. 30, 2011
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Smaller firms to get W19.4tr in financial support
The government will provide 19.4 trillion won ($18.06 billion) in loans and other financial support for small and medium enterprises as part of its efforts to stabilize the livelihoods of ordinary people ahead of the Chuseok holiday, the finance ministry said Tuesday.Under the plan, which was approv
Aug. 30, 2011
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Korean builders to spend $500,000 in Libyan aid
Korea’s 16 construction firms on Tuesday unveiled a plan to provide $500,000 worth of humanitarian aid to Libya’s new leaders, joining the government’s efforts to step up economic and diplomatic ties.The Ministry of Land, Transport and Maritime Affairs named Hyundai Engineering & Construction and Da
IndustryAug. 30, 2011
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Hana Financial sees growth with soundness
In the years since the 2008 global financial crisis, Hana Financial Group has been successful in attaining qualitative growth and asset soundness at home and abroad over the past few years.A variety of indices show that the nation’s fourth-largest financial group has made headway in its move to crea
Aug. 30, 2011
