Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
OpenAI in talks with Samsung to power AI features, report says
-
4
Two jailed for forcing disabled teens into prostitution
-
5
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
South Korean military plans to launch new division for future warfare
-
9
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
10
North Korean leader ‘convinced’ dialogue won’t change US hostility
-
POSCO’s overseas project gains momentum
POSCO plans to inject about $12 billion into a project to construct a new plant and develop an iron ore mine in India, which received the green light from the Indian government on Monday after years of delay.India’s Ministry of Environment and Forests gave POSCO conditional approval to go ahead with buying up land for an integrated steelworks and to continue processes for its plans for iron ore ex
IndustryFeb. 1, 2011
-
Consumer prices surge 4.1% in January
Inflation breaks BOK ceiling again, led by 30.2% jump in fresh food pricesKorean inflation accelerated for the second straight month in January, breaching the central bank’s 4 percent ceiling and adding to the case for another increase in borrowing costs. According to the report by Statistics Korea, the country’s consumer price index surged 4.1 percent last month from a year earlier, mainly due to
IndustryFeb. 1, 2011
-
KORES bids for Mongolia coal mine
An international consortium led by Korea Resources Corp. recently submitted a bid to develop a coal mine lot in Mongolia, the state-run resources developer said Monday.The consortium of nine Korean, two Russian and four Japanese companies seeks to obtain the right to develop the Tavan Tolgoi mine. The region has one of the world’s largest untapped deposits of coal for making steel with around 1.2
IndustryFeb. 1, 2011
-
Banks’ profit jumps 41% as bad-loan ratio drops
Kookmin Bank, Korea’s largest lender, and local rivals posted a 41 percent jump in combined profit last quarter as widening lending margins increased interest income and provisions for bad loans fell.The 18 lenders net income climbed to 2.1 trillion won ($1.9 billion) for the three months ended Dec. 31, from 1.5 trillion won a year earlier, the Financial Supervisory Service said Tuesday in an e-ma
Feb. 1, 2011
-
Netherlands supplies FMD vaccines to Korea
The Netherlands are providing 1 million doses of foot-and-mouth vaccine to help Korea fight its worst outbreak, its embassy said Friday.At the request of the Korean government, the European country has sent 500,000 vaccines. The remainder is due to arrive on Feb. 3. “The Netherlands expects it will contribute positively to the welfare of the animals and to disease control,” it said in an e-mailed
Feb. 1, 2011
-
Unrest in Egypt feared to hit S. Korean exports
A prolonged anti-government protest in Egypt could deal a blow to South Korean exports to the North African state and hamper the recovery of Asia's fourth-largest economy by pushing up commodity costs, watchers said Tuesday. Thousands of protesters took to the streets of major cities in Egypt last week, demanding their president, Hosni Mubarak, to end his iron-fisted rule of 30-odd years. M
Feb. 1, 2011
-
Regulator puts 10 more firms on watch list
South Korea's anti-trust regulator said Tuesday that it has placed 10 additional companies on its watch list that limits mutual business investments and loan guarantees. The Fair Trade Commission (FTC) said a total of 1,360 affiliates from 51 conglomerates, including Samsung, LG and Hyundai Heavy Industries were on its list as of Tuesday. The FTC said 33 firms were included as affiliates of
Feb. 1, 2011
-
S. Korea's trade surplus narrows sharply in Jan.
South Korea's trade surplus narrowed sharply in January from the previous month as soaring crude and commodity costs overshadowed record exports, a government report showed Tuesday. The country's surplus reached $2.96 billion last month, compared with $4.08 billion in December, with exports surging 46 percent to $44.89 billion and imports gaining 32.9 percent to$41.93 billion, according to th
Feb. 1, 2011
-
S. Korea's consumer prices surge 4.1 pct in Jan.
South Korea's consumer prices spiked in January mainly due to a rise in agricultural and energy-related product costs, adding to concerns that mounting inflationary pressure could undercut the nation's economic recovery, a government report showed Tuesday. According to the report by Statistics Korea, the country's consumer price index surged 4.1 percent last month from a year earlier. The figu
Feb. 1, 2011
-
With love and grit, he marches on
In a Vietnamese jungle on Sept. 4, 1969, the stubby bullet of a Russian-made AK-47 ripped into the skull of Army Spc. Leonard Rugh, then 24. It didn’t stop until it had torn through his brain’s right frontal lobe, powered its way through the right parietal lobe and lodged itself in the dome of his helmet.Leonard Rugh is photographed with his wife, Luanna, at Saddleback College in Mission Viejo, Ca
TechnologyJan. 31, 2011
-
Korean investors in Egypt begin exodus
Korean businesses and investors in Egypt are facing inevitable damage to their operations due to increasingly violent protests there, with many of them forced to stay indoors or have their family members leave the country in a hurry, a local trade body said Monday.Many companies, including Samsung, LG and Hyundai Motor, have decided to immediately bring home the families of their workers in the Ar
IndustryJan. 31, 2011
-
NPS plans to use W300b more to buy bad debts
Korea’s national pension fund plans to spend 300 billion won ($267.3 million) down the road in order to take over bad debts from distressed commercial banks, the fund’s top manager said Monday. “The National Pension Service has recently decided to invest an additional 300 billion won in funds to buy non-performing loans as part of our alternative investment expansion,” Chairman Jun Kwang-woo said
IndustryJan. 31, 2011
-
LG Uplus back to loss in Q4 on costs
Korea’s smallest mobile carrier, LG Uplus Corp. said Monday that it swung into the red in the fourth quarter of 2010 from one year ago, hurt by depreciation costs. Net loss stood at 49.2 billion won ($44.1 million) in the October-December period, compared with a 78.4 billion won net income a year earlier, the company said in a regulatory filing. The mobile operator said it had lost money in the th
IndustryJan. 31, 2011
-
Chip exports may reach $52.5b in 2011
Korea’s computer chip exports are expected to reach $52.5 billion in 2011, fueled by greater overseas demand for system semiconductors, the government said Monday.The total represents a growth of 3.5 percent compared to the previous year, with outbound shipments of system semiconductors used to make products like smartphones and tablet PCs expanding 18.7 percent on-year to $19.1 billion, the Minis
IndustryJan. 31, 2011
-
China seeks maximum fine for Carrefour
SHANGHAI (AFP) ― China price regulators are seeking to fine French retail giant Carrefour 2.5 million yuan ($380,000) ― the maximum fine for overcharging customers, state media reported Sunday.Municipal regulators fined three Carrefour stores in Shanghai and two in southwest China’s Yunnan province 500,000 yuan each on Saturday, the official Xinhua news agency reported.However, the final fine will
IndustryJan. 31, 2011
-
Korean Air faces price-fixing probe
The antitrust regulator is investigating Korean Air and Mongolian Airlines for possible price fixing for their services between Incheon and Ulaanbaatar, sources said Wednesday.Since October, the Fair Trade Commission has been looking into their ticket prices which are about 30 percent higher than those on routes of a similar distance, they said.Only the two airliners have been running the service
Jan. 31, 2011
-
20 conglomerates face fines for abuse of suppliers, contractors
About 20 large businesses will face hefty fines for mistreating their suppliers over the next six months, Fair Trade Commission Chairman Kim Dong-soo said.The antitrust regulator has been conducting an extensive inquiry into 40 large companies since last year. In a media interview, he said about half of them were found to have been involved in wrongdoings including unfair pricing and arbitrary can
Jan. 31, 2011
-
Korea looks to investment from emerging countries
The government is looking to China and other cash-rich emerging countries to invest in Korea’s fast-growing energy, technology and service sectors.The Ministry of Knowledge Economy said Monday that Korea aims to draw more than $15 billion in foreign direct investment this year. It marks a 15 percent increase from a record-high $13 billion that arrived last year.To achieve the goal, the government
Jan. 31, 2011
-
Industrial output grows 9.8% in Dec.
Data shows recovery on track, adds pressure for rate increaseKorea’s industrial output grew for the 18th straight month in December, suggesting the economic recovery remains on track and adding to the case for the central bank to raise borrowing costs again.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 9.8 percent last month from the sa
Jan. 31, 2011
-
Wrap accounts may double
Individually tailored equity portfolios may double in Korea this year as investors shift cash from index-tracking mutual funds, advisory firm Korea Creative Investment said. Brokerages sold $1.2 billion of products to individual investors based on Korea Creative’s stock picks within a month of the company starting business Dec. 13, Seo Jae-hyeong, chief executive officer of the Seoul-based firm, s
Jan. 31, 2011