Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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OpenAI in talks with Samsung to power AI features, report says
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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Two jailed for forcing disabled teens into prostitution
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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S. Korea not to attend Sado mine memorial: foreign ministry
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South Korean military plans to launch new division for future warfare
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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North Korean leader ‘convinced’ dialogue won’t change US hostility
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Investor exodus continues in bond market
The Korean bond market continues to see an outflow of funds for a third month as investors flee to capture rising yields elsewhere and tab on bullish equities. The investor exodus is led by foreigners who were fast to exit the market to avoid a revived tax of as much as 14 percent on interest income which Seoul imposed in January to limit capital inflows. Analysts attributed the continued price de
Feb. 8, 2011
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4G LTE-A network expected to make life easier
Imagine yourself using your smartphone to download a movie during a single bus journey.In addition to the longer time required to complete the download, one could consider himself or herself lucky if it is completed in a single go with the current third generation networks.The government announced late last month that the state-run Electronics and Telecommunications Research Institute in Daejeon d
TechnologyFeb. 8, 2011
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Ballmer is cleaning up house
MS CEO reportedly planning management reshuffle for tech expertiseMicrosoft Corp. Chief Executive Officer Steve Ballmer plans to extend a management reshuffling aimed at adding senior product executives with an engineering background, two people with knowledge of the decision said.Changes may be announced this month, said one of the people, who declined to be named because the plans are private. L
IndustryFeb. 8, 2011
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Sales of imported vehicles surge 35.8 pct in Jan.
Foreign vehicle brands in South Korea saw a large boost to their sales last month, flashing a green light to their goal of selling over 100,000 cars in the local market for the first time, a local trade association said Tuesday. A total of 8,659 imported vehicles were sold here in January, up 35.8 percent from the same period last year, according to the Korea Automobile Importers and Distribu
MobilityFeb. 8, 2011
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140,000 calorie burger goes viral on YouTube
A video clip, entitled “The Sloppy Roethlisberger -- Epic Meal Time,” has become an Internet hit on YouTube, drawing nearly 1.5 million viewers after it was posted on Feb. 1 ahead of this year’s Super Bowl, the British Metro reported. The video features the Epic Meal Time crew introducing the 24.5 kilogram jumbo burger that includes 9 kilograms of bacon, 6 kilograms of ground beef and 5 kilograms
Feb. 8, 2011
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Public service rates up despite anti-inflation efforts
Prices of public services in Korea grew at the fastest pace in more than four years in January, adding to burdens in the daily lives of low- and mid-income people, data showed Monday.According to the data offered by the finance ministry and the statistics agency, the average prices of the nation’s 32 major public services, including heating gas and tap water, rose 0.9 percent last month from Decem
Feb. 7, 2011
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Stock market cap returns to $1tr level
Korea’s stock market capitalization returned to the $1 trillion level for the first time in three years in 2010 as an economic recovery and corporate profit gains led to strong rallies, the bourse operator said Monday.The country’s total market cap of its main board and the tech-heavy junior market reached $1.92 trillion at the end of 2010, up 30.8 percent from a year earlier, the Korea Exchange s
Feb. 7, 2011
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Korea’s foreign reserves hit new high in January
Korea’s foreign exchange reserves rose to a fresh high in January as a soft U.S. dollar bolstered the conversion value of assets in other currencies, the central bank said Monday.The country’s foreign reserves reached $295.96 billion as of the end of January, up $4.39 billion from the previous month, according to the Bank of Korea.The reserves rose for the second straight month in January, surpass
Feb. 7, 2011
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Regular workers hit record high in 2010
The number of regular workers in Korea reached an all-time high last year as businesses increased their number of longer-term workers amid rebounding economic conditions, data showed Monday.The number of workers who remained employed for a year or longer totaled 10.09 million last year, the highest since related statistics started to be compiled in 1989, according to the data provided by the finan
Feb. 7, 2011
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Seoul shares up on economic optimism
Korean stocks finished 0.47 percent higher on Monday, led by financial companies, as upbeat U.S. data boosted investor sentiment amid subdued trading after a national holiday, analysts said. The local currency climbed against the U.S. dollar. After rising more than 1.7 percent at one point, the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,081.74, up 9.71 points from the previous
Feb. 7, 2011
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Businesses oppose early adoption of carbon trading
Korea’s major economic organizations called on the government Monday to significantly postpone its plan to introduce a carbon emissions trading system in 2012, saying it could hurt the country’s industrial competitiveness.The five economic organizations, including the Federation of Korean Industries, the largest industry lobby in the country, urged the government to delay the move at least until 2
IndustryFeb. 7, 2011
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Korean venture to buy U.S. hallyu site operator
Korea’s video search technology provider, Enswers Inc., said Monday that it has agreed to acquire a Silicon Valley-based online company, Soompi Media LLC, to create a U.S.-based Web portal for Korean pop culture and news.Under the agreement, Enswers will introduce this month a revamped service of Soompi.com powered by its own video search technology in a bid to bring Korean dramas, music, movies a
IndustryFeb. 7, 2011
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Kia Motors posts record monthly sales in China
HONG KONG (Yonhap News) ― Kia Motors Corp., Korea’s second-largest automaker, posted record-high monthly sales in China last month, backed by strong demand for its sport utility vehicle, company officials said on Sunday.In January, Kia Motors sold 38,858 units of vehicles in the world’s most populous country, up 22.7 percent from a month earlier and also 13.7 percent from the same period last year
IndustryFeb. 7, 2011
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LGD eyes Poland joint venture
LG Display Co., the world’s second-largest maker of liquid-crystal displays, said it’s in talks with TPV Technology Ltd. to form a venture in Poland to manufacture LCD modules and televisions.The venture will help reduce production costs by making TV parts and sets in one factory, Claire Ohm, a Seoul-based spokeswoman for LG Display, said in a telephone interview Monday. LG has similar operations
IndustryFeb. 7, 2011
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BAT Korea launches Kent Boost
British American Tobacco Korea said Monday it has launched Kent Boost, which offers two levels of menthol in one cigarette.The product is first of this kind in the country, according to the tobacco producer. It gives consumers an extra burst of menthol when they press the capsule in the filter, the firm said. “Kent is the second-largest premium brand globally (outside of U.S. and China) sold in ov
IndustryFeb. 7, 2011
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Heated competition may cause new credit card crisis
Worrisome signs are resurfacing from the issue of red-hot credit card competition, reminiscent of the 2003 bad debt fiasco, prompting regulators to consider fresh restrictions.Major card issuers have been fighting a marketing war since last year, vying for a bigger slice of consumer spending as it gets on track to recovery.The competition led to sharp increases in card issuances and service loans,
Feb. 7, 2011
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Forensic experts to fight tax evasion
The National Tax Service will launch a forensic investigation center Tuesday to fight increasingly sophisticated tax evasion.The Forensic & Anti Tax Evasion Center will be headquartered in Seoul with regional teams working in the agency’s Daejeon, Gwangju, Daegu and Busan offices. Each team will have about 30 officials. “There are limits to the probe with our traditional enforcement tools as tax o
Feb. 7, 2011
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Entry barriers hurt Korean beer industry
Brewers say trade barriers must go to add color to Korean beer marketThink Korean beer. Now think of a Korean beer that’s not Hite or OB.That blank right there shows the space smaller breweries have been trying to fill in a market where the share between the big two is split nearly fifty-fifty. Many beer lovers crave diversity, finding local products “watery” and of lower quality when compared to
IndustryFeb. 7, 2011
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Korea pressured on currency
Seoul officials expected to turn more cautious in wake of U.S. criticismKorean officials are expected to take a more cautious approach in dealing with the foreign exchange market following the U.S. criticism of their active intervention to keep the won low, analysts said Monday.The Bank of Korea declined to make any official comment on the U.S. Treasury Department’s recent report to Congress on th
Feb. 7, 2011
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Korea Ginseng Corp. to open 11 overseas branches
Korea Ginseng Corp. said Monday it will establish 11 new branches outside Korea this year as it aims to more than double its overseas sales.The firm is well-known for its 6-year-old red ginseng brand Cheong Kwan Jang, which has been increasing in popularity overseas, particularly in China, over the past few years.The firm said it will establish new branches in China, Japan, North America, Singapor
IndustryFeb. 7, 2011
