Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
9
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
10
Job creation lowest on record among under-30s
-
Volkswagen launches new Touareg crossover SUV in S. Korea
(Yonhap News) Volkswagen Korea, the local importer of German automaker Volkswagen AG, introduced the latest version of its Touareg crossover sport utility vehicle (SUV) in South Korea on Monday. The mid-size model has a wider wheelbase compared to the older model but its weight has been brought down by a maximum 201 kilograms. It also comes with an eight-gear automatic transmission, a first for
MobilityJuly 4, 2011
-
KT eyes global markets through Wi-Fi partnerships
Telecom giant forms international taskforce on global Wi-Fi roaming serviceKT Corp., the country’s biggest fixed-line service operator, is casting an eye toward global markets on the strength of its innovative technologies.Pyo Hyun-myung, president of the mobile business unit at KT, said the company is not merely looking to do business in other countries by buying shares of overseas firms, but als
IndustryJuly 3, 2011
-
Do bloggers have too much power?
Case of ‘power blogger’ reveals ugly side of online punditsA total of 4,983 people staged a cyber protest against an online homemaking pundit Sunday morning, calling for an apology and compensation for her public deception. They said 46-year-old Hyun Jin-heui, running one of the nation’s most visited blogs, had arranged sales of an electronic gadget that could harm people’s health and bagged a for
IndustryJuly 3, 2011
-
Watchdog mulls stricter rules to curb currency margin trading
South Korea’s financial watchdog plans to draw up measures to mend the practice of handling currency margin trading in a bid to prevent retail investors from inflicting heavy losses, officials said Sunday.Margin trading allows investors to place heavy bets on currency volatilities with a relatively small amount of money. Currency margin trading can yield huge profits, but it can also inflict heavy
July 3, 2011
-
Controversy brews over Lone Star’s receipt of massive dividends
The move by Korea Exchange Bank to offer a record interim dividend to its biggest shareholder Lone Star Funds is sparking concerns about long-term growth for South Korea‘s No. 5 lender, market watchers said Sunday.KEB’s board decided on Friday to pay out a quarterly dividend worth of 1,510 won ($1.42) per share, causing U.S. private equity fund Lone Star to rake in dividends worth 496.9 billion wo
July 3, 2011
-
Korea-EU FTA opens new doors to economic and cultural exchange
Lee Kyung-taePresident of Institute for International Trade, Korea International Trade Association2011 is a landmark year for trading companies in Korea. This is because Korea is expected to become the ninth country in the world to achieve one trillion dollars in trade volume this year. Amid the shortage of resources and technology, this accomplishment was made possible by Korea’s driven work forc
July 3, 2011
-
Overseas sales of Galaxy S2 top 3m
Models show Samsung Electronics’ smartphone “Galaxy S2” in celebration of the launch of the phones in Mexico on June 30. The sales of the phones have broken the 3-million barrier. (Yonhap News)Samsung Electronics Co., the world’s second-largest maker of mobile phones, said Sunday its overseas sales of the Galaxy S2 smartphone topped the 3 million mark 55 days after its launch.More than 3 million u
IndustryJuly 3, 2011
-
Doubts grow over financial supervisory reform
Skepticism is growing over the performance of the Prime Minister’s Office-led task force to overhaul the nation’s financial supervisory structure.Though the task force was set up in the wake of financial regulators’ failure in oversight of savings banks, the 13-member team has not reached a consensus and has delayed unveiling its measures.The team, launched early May, said it would draw out measur
July 3, 2011
-
Trade deficit with Japan falls in H1
Korea’s trade deficit with Japan fell in the first half, compared with a year earlier mainly because exports by Asia’s fourth-largest economy benefited from Japan’s devastating quake in March, data showed Sunday.Korea’s exports to Japan rose 49.9 percent on-year to $17.7 billion in the January-June period while imports grew 11.3 percent to $32.1 billion, according to data compiled by the Ministry
July 3, 2011
-
Watchdog to inspect large financial firms every other year
Korea’s financial watchdog said Sunday it plans to inspect large local banks and insurers every other year, a change from the current annual checkups, in a bid to ease unintended burdens on financial firms.Instead, the Financial Supervisory Service is seeking to strengthen the sector-wide monitoring system and focus on issue-based inspections when potential systemic risks crop up.In the wake of th
July 3, 2011
-
KITA matches 10,000 jobseekers with work
The Korea International Trade Association said Sunday the number of people who found jobs through its online recruitment services has topped 10,000 in less than two years. The website, named JobTogether (http://jobtogether.net/), was opened in September 2009 as part of KITA’s campaigns to tackle labor shortages in the local trade industry and rising unemployment in Korea. As of May, 10,838 job see
IndustryJuly 3, 2011
-
Korea pension fund to pump W250b into Titleist brand
Korea’s state pension fund is said to inject at least 250 billion won ($234.3 million) into a Korean-led consortium for its project to buy Titleist golf brand, industry sources said Sunday.The group led by Fila Korea Ltd. struck a deal with Fortune Brands Inc. in May to take over the U.S.-based liquor firm’s golf equipment unit Acushnet for $1.23 billion. Other partners include Mirae Asset Private
IndustryJuly 3, 2011
-
Finance ministers agree ...on policy coordination
Finance ministers of South Korea and Japan agreed to step up policy coordination in pushing for “a strong, sustainable and balanced growth,” both sides said.During their meeting in Tokyo on Friday, South Korea’s Finance Minister Bahk Jae-wan and his Japanese counterpart Yoshihiko Noda shared the view that the economy in East Asia still faces risk factors, despite its steady rebound from the global
July 3, 2011
-
KB’s ATM network frozen for three hours
Some automated teller machine services of Kookmin Bank, South Korea’s largest lender, were paralyzed for around three hours on Saturday morning, bank officials said, rekindling concerns over banking security in the country. Customers had difficulties depositing and withdrawing money through ATMs across the nation between 7:30 a.m. and 10:20 a.m., according to the officials.Kookmin Bank said its of
July 3, 2011
-
Honda Accord on promotional offer
Honda AccordHonda Korea is offering special deals for the Accord mid-sized sedan until the end of the month in celebration of selling more than 40,000 units here, the company said.The company is offering a complimentary DVD-navigation system and free check-ups for up to five years, all on top of 1 million won ($939) cash coupons.
MobilityJuly 3, 2011
-
New Hyundai Motor Santa Fe SUV on market
Hyundai Motor Co., Korea’s largest carmaker, said Friday that it started selling the 2012 model Santa Fe sport utility vehicle on the local market.The updated model of the popular SUV has a restyled radiator grille, new headlights and positioning lamps that improve the overall attractiveness of the vehicle, the company said.It also said the new Santa Fe will have 18-inch aluminum wheels, a black h
MobilityJuly 3, 2011
-
Toyota recalls 114,000 hybrid vehicles worldwide
Toyota Motor Corp said it would recall about 114,000 hybrid cars in Japan, Europe and the United States because of faulty transistors in control boards.Toyota said it would conduct a voluntary safety recall in the U.S. involving about 45,500 Highlander hybrid sports utility vehicles and 36,700 Lexus RX 400h sports utility vehicles.Some transistors in the recalled cars were “inadequately soldered a
MobilityJuly 3, 2011
-
Korean carmakers fly high on exports
Toyota and other Japanese car sales down more than a fifth in JuneLocal automakers led by Hyundai, Kia and SsangYong reported all-time high sales with double-digit growth in the first half, benefiting from the demand-drop for Japanese vehicles after the March earthquake.Domestic sales at Hyundai Motor Co., the industry leader, jumped 7.2 percent on-year to 344,422 units in the January-June period.
MobilityJuly 3, 2011
-
Porsche Cayenne surging in China
Porsche CayenneChina surpassed the U.S. as the world’s largest car market on sales of sedans. Future growth lies with sport-utility vehicles. SUV deliveries rose 30 percent this year through May, compared with a 6 percent gain for total passenger-car sales, according to the China Association of Automobile Manufacturers. Sales of SU
MobilityJuly 3, 2011
-
Audi’s convertible supercar targets Ferrari
Audi AG is taking aim at Ferrari SpA with a convertible version of the R8 GT supercar, as the Volkswagen AG unit hones a high-end sporty image in its quest to overtake Bayerische Motoren Werke AG as the luxury-car leader. The R8 GT Spyder, Audi’s most expensive series production car, boasts carbon-fiber in the front and rear spoilers to reduce weight and help the car accelerate to 100 kilometers p
MobilityJuly 3, 2011
