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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Kia EV9 GT marks world debut at LA Motor Show
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Kia’s global share hits record
Kia Motors Corp. saw its global market share come to 2.9 percent, the highest ever for the company, in 2010, industry data showed Sunday.According to the carmaker, it sold about 2.09 million units ― about 485,000 units domestically and 1.605 million units overseas ― in 2010. Comparing the figure to the world market volume of 71.35 million units calculated by J.D. Power and Associates, Kia’s global
IndustryJan. 23, 2011
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SKT to launch Bada phone
SK Telecom, the country’s leading mobile carrier, is expected to launch Samsung Electronics’ Wave 2, which runs on Samsung’s proprietary mobile operating system, in Korea as early as this week.Wave 2 will be the first model introduced in the local market that runs on Samsung’s mobile operating platform Bada, developed more than a year ago.“The telecom will make the last call for the launch date, h
IndustryJan. 23, 2011
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Will IMF lift prediction on Korea’s 2011 growth?
The Bank of Korea is focusing on the coming revised outlook of the International Monetary Fund for the 2011 global economy as the U.S. economy is showing positive signs of recovery.An issue is whether the IMF will revise its forecast on Korea’s GDP growth upward for this year, from its projection of 4.5 percent in October. The figure was identical to the outlook issued by the BOK.While BOK Governo
Jan. 23, 2011
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Daimler launches new cargo truck
Daimler Truck Korea launched the cargo truck Actros on the local market Thursday. With the new truck, Mercedes-Benz is entering the country’s market for large cargo trucks, which accounts for about 60 percent of large truck sales, for the first time. ActrosThe truck is equipped with a V6 engine that puts out 476 brake horsepower, and has been designed for use in various functions including transpo
MobilityJan. 23, 2011
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Mitsubishi plans 8 eco-friendly cars by 2015-16
TOKYO (DPA) ― Mitsubishi Motors Corp. plans to launch eight models of electric cars and plug-in hybrids by the financial year that ends in March 2016, the Japanese carmaker said Thursday.The strategy includes the introduction of hybrid vehicles in the 2013-14 financial year, said Mitsubishi, which produces an electric hatchback but has yet to introduce hybrid models.It plans to also expand its lin
MobilityJan. 23, 2011
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Subaru launches 2011 Forester
Subaru Korea launched the 2011 Forester compact sport utility vehicle on the local market last Monday.In addition to the usual upgrades seen in model year changes, the new Forester is fitted with the third-generation Boxer engine. 2011 ForesterIn Subaru’s Boxer engine, the pistons are arranged and move horizontally, as opposed to the up and down movement of an inline engine, which according to the
MobilityJan. 23, 2011
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Lexus showroom opens in Ilsan
Chunwoo Motors, Toyota Korea’s Lexus dealer for the Yongsan area of Seoul, opened a Lexus showroom in Ilsan-gu, Goyang in Gyeonggi Province on Thursday.The company said that the new showroom will strengthen its sales network in northern Gyeonggi Province including Ilsan and Paju. The showroom is located on the ground floor of a three-story building that includes office space, and a service stall t
MobilityJan. 23, 2011
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Hyundai, Kia’s swap between overseas
Hyundai Motors Co. will shuffle production of two models between its Czech factory and a plant operated in neighboring Slovakia by the carmaker’s affiliate, Kia Motors Corp.The factory near Zilina, Northern Slovakia, will take over production of Kia Venga compact cars, which are currently assembled in the Czech Republic, according to Dusan Dvorak, spokesman for the unit. Similarly, production of H
MobilityJan. 23, 2011
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Renault Samsung offers free Seolnal checkup
Renault Samsung Motors Co. will be operating vehicle checkup points at 14 rest stops on expressways from Feb. 1 to 6 between 9 a.m. and 5 p.m. for those traveling during the Seolnal, Lunar New Year, holiday.The checkup points offer general checkups free of charge, and replacements for various parts and components. Mechanics stationed at the checkup points will also provide tips on vehicle maintena
MobilityJan. 23, 2011
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S. Korea to be world's 7th-largest economy in 2032: official
South Korea is expected to become the world's seventh-largest economy in 2032 if it continues to propel its growth engines, the country's top financial regulator has said. "In 2020, South Korea is likely to become the world's 10th-largest economy. In 2032, it is projected to surpass Germany to join the ranks of the world's seven largest economies," Kim Seok-dong, the head of the Financial Servic
Jan. 23, 2011
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Lotte files suit aimed at Shilla shop
Legal battle begins over operation of Louis Vuitton shop at Incheon AirportLotte Duty Free has filed a lawsuit against Incheon International Airport for allowing Shilla Duty Free to open a Louis Vuitton store at the nation’s largest international airport.Lotte said on Thursday that it filed an injunction against the airport because it gave improper favors to Shilla. Lotte Duty Free’s argument was
IndustryJan. 23, 2011
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Apple's iPhone users reach 2 mln in S. Korea
The number of Apple Inc.'s iPhone users has surpassed 2 million in South Korea in a little more than one year of its local debut, its distributor said Sunday. Two million iPhones were activated in South Korea as of Jan.20, including 1.03 million units of the iPhone 4, the latest version of the hot-selling device, and 977,000 units of the iPhone 3GS, KT Corp. said in a statement. KT, South Korea's
IndustryJan. 23, 2011
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Scientist may have found universe’s first star
Remnants of a star that exploded more than 13 billion years ago could be the first star of the universe, BBC news reported. (MCT)All that is left of this pioneer is the gas cloud it threw out into space when it first exploded. The remains of the star are said to have been found when its contents were illuminated by brilliant light coming from the surroundings of a black hole. To identify the stars
TechnologyJan. 21, 2011
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IMF approves first financial safety loan
The International Monetary Fund approved a two-year contingent credit line to the Republic of Macedonia in the first use of newly launched insurance program guided by the Group of 20 last year. The former Yugoslavian republic became the IMF’s first recipient of the Precautionary Credit Line, securing 476 million euros ($642 million) for this year and next.The measure is part of the international l
Jan. 21, 2011
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World’s most expensive apartments sold in London
One Hyde Park is the world's most expensive residential apartment. (Bloomberg)The world’s most expensive residential apartments at One Hyde Park have been officially put on the auction block by property duo the Candy brothers.Nick and Christian Candy claim to have sold over 55 of the 86 luxury apartment properties. On the opening ceremony around 5,000 gold balloons were released from the roof at t
Jan. 21, 2011
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GM Daewoo begins production of new MPV Orlando
GM Daewoo Auto & Technology, the South Korean unit of U.S. automaker General Motors Co., said Friday it began producing its new compact multi-purpose vehicle (MPV), the Chevrolet Orlando. The vehicle will be produced at the GM Daewoo plant in Gunsan, 270 kilometers southwest of Seoul. The Orlando is scheduled to be launched here next month as the first of seven Chevrolet vehicles set to be intro
IndustryJan. 21, 2011
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Man arrested for extorting money from Samsung Electronics
Samsung Electonics 3D booth at CES in 2011. (Bloomberg)A Seoul man has been arrested on charges of extorting a large sum from Samsung Electronics after intentionally destroying a Samsung cellphone last year, police said Thursday.The 29-year-old man, identified only as Lee, is accused of distorting a compensation of 5 million won (US$4,500) from Samsung Electronics after intentionally destroying hi
IndustryJan. 21, 2011
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Daewoo cars history as GM Korea switches to Chevrolet
The Korean unit of General Motors plans to remove the badge of “Daewoo” from its company name and new domestic releases as it seeks to improve image and boost sales. GM Daewoo Auto and Technology Co. announced Thursday it will change its name to GM Korea Company and replace the GM Daewoo brand with the Chevrolet brand.“The actions we are about to take will take the company to a stronger, sustainab
IndustryJan. 20, 2011
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Facebook agrees to improve data protection for Koreans
The state media regulator Korea Communications Commission said Thursday that the U.S.-based social networking site Facebook agreed to improve its individual information protection measures for Korean users.The KCC said that Facebook stated that it will devise separate measures which follow the country’s information and telecommunications law by the end of March.The event takes place after the stat
IndustryJan. 20, 2011
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KT targets W20.5tr in sales
Carrier to invest 3 trillion won to boost service quality, global presenceKT Corp. said Thursday it plans to record 20.5 trillion won ($18 billion) in sales and spend 3 trillion won in investments this year to boost its service quality and step up its presence in global markets.KT, the exclusively provider of Apple’s iPhone in Korea, also said that it aims to reach 30 trillion won in sales by 2015
IndustryJan. 20, 2011
