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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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Opposition chief acquitted of instigating perjury
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Job creation lowest on record among under-30s
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Daewoo International gears up for gas project in Myanmar
Daewoo International Corp. said Sunday it has begun infrastructure work for a gas project in Myanmar after completing drilling and production tests.The Korean resources developer will establish seabed platforms, onshore terminals and pipelines at two offshore fields in the Southeast Asian country in
IndustryOct. 3, 2011
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Samsung proposes deal to Apple in Australia
Samsung Electronics Co. made a proposal to Apple Inc. to resolve their patent dispute in Australia regarding touch-screen technology, a Sydney court was told Sept. 30. Samsung lawyer David Catterns didn’t give details about the proposal, and Apple will need time to consider it, Apple lawyer Steven B
IndustryOct. 3, 2011
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GM Korea launches Malibu midsized sedan
GM Chevrolet’s new model, the Malibu, will debut in Korea on Tuesday, GM Korea officials said Monday. A live stream for the launch will be available online, they added.The introduction of the Malibu comes six months after the company’s announcement that the new model will go into production at the B
MobilityOct. 3, 2011
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Firms struggle with shrinking cash reserves
Local lenders tighten loans, hurting smaller companiesCash flow is slowing at a growing number of Korean firms, both big and small, sending a fresh warning signal to policymakers faced with greater economic uncertainties at home and abroad. Industry data from the Korea Listed Companies Association,
Oct. 3, 2011
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Global slowdown, weak earnings dog economy
Weak demand from overseas and continued stock exodus to bring current account down furtherAn increasingly worse outlook for Korea’s major trading partners is throwing more doubt on the debt and inflation-saddled economy.Analysts expect the current account surplus to continue shrinking as demand drop
IndustryOct. 3, 2011
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Korea’s CDS premium jumps in Sept.
The cost of insuring South Korea’s sovereign debt against default spiked more than 90 basis points in September from a month earlier amid the European debt crisis, data showed Sunday.According to the data by the Korea Center for International Finance, the credit default swap (CDS) premium on South K
Oct. 3, 2011
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Seoul to inject $1.1b into resources development
South Korea plans to increase its spending on the development and purchase of overseas mines by nearly 10 percent next year to significantly boost its energy self sufficiency, the government said.According to the Ministry of Knowledge Economy, the government is requesting 1.31 trillion won ($1.1 bil
Oct. 3, 2011
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Chinese holidaymakers flood Korea
Chinese tourists are pouring into the country with the start of the mainland’s National Day Golden Week, raising Korea’s hopes for a chance to bolster its tourism revenues. With more than 70,000 Chinese visitors expected to visit this week ― a 20-percent increase from last year ― the state-run Korea
IndustryOct. 2, 2011
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LGE 3-D TV named best brand by U.S. magazine
A 3-D TV set made by South Korea’s LG Electronics Inc. has been selected as this year’s best model for its clear picture and vivid color, a U.S. online computer magazine said Sunday.According to PC World, which has 5 million subscribers, LG’s 47-inch Cinema 3D TV, or LG Infinia 47LW6500, ranked firs
IndustryOct. 2, 2011
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Ssangyong E&C signs deal for condos in Vietnam
Ssangyong Engineering and Construction Co. announced Sunday that it has won a $57.8 million contract to build part of a condominium complex in Vietnam.Under the contract, issued by a subsidiary of the Singaporean real estate developer Keppel Land, Ssangyong E&C will build three of the 12 residential
IndustryOct. 2, 2011
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HSBC may soon clarify banking closure rumors
HSBC Holdings’ Korean branch is likely to clarify rumors that it is planning to shut down retail banking operations here soon.According to reports that first came out late September, HSBC has drawn up plans to pull out of Korea’s retail banking market and began the process of selling related assets,
Oct. 2, 2011
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Irregular trading in derivatives on the rise
Unfair practices in the local derivatives market have become more frequent, according to a report from an opposition party lawmaker. In his report for the National Assembly’s audit of Korea Exchange, Rep. Yu Won-il of Creative Korea Party said that irregular trading of derivative products has surged
Oct. 2, 2011
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Samsung sees light ahead despite downturn
Electronics maker says will get through crisis on combined efforts with suppliersRecovery does not seem to be in the cards for the global economy, but Samsung remained upbeat and pledged to continue working with its partners to come back with a vengeance when the markets pull through the current cri
IndustryOct. 2, 2011
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Volkswagen, GM lead 7.8% growth in August European car sales
Volkswagen AG, General Motors Co. and Ford Motor Co. led the first increase in European car sales in four months, helped by new models ordered earlier this year.Registrations rose 7.8 percent to 787,435 vehicles from 730,646 units a year earlier, the Brussels-based European Automobile Manufacturers
MobilityOct. 2, 2011
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Mercedes adds C-Class coupe to U.S. line to top BMW
Daimler AG’s Mercedes-Benz, seeking to become the top-selling luxury brand in the U.S., added a two-door compact C-Class to its lineup to attract younger buyers from Bayerische Motoren Werke AG’s BMW.The C-Class coupe, which arrived at dealerships this month, may boost sales of the nameplate by as m
MobilityOct. 2, 2011
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Kia may overtake Hyundai at home
Automaker to launch K9, K3, TAM to expand local market sharesKia Motors Corp. has been in close competition with its affiliate Hyundai Motor Co. in domestic sales, narrowing the gap between them in market share.Hyundai Motor Group is focusing on the possibility that Kia will catch up with Hyundai wi
MobilityOct. 2, 2011
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‘Why’ is designer’s most critical question: Bangle
World-renowned designer calls work with Samsung inspiring and challengingFollowing is the sixth in a series of interviews with world’s top designers and scholars who will participate in the Herald Design Forum in Seoul from Oct. 5 to Oct. 6. ― Ed. An upcoming visit by visionary designer Chris B
IndustryOct. 2, 2011
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Earnings forecast for listed firms worsens on global woes
SEOUL, Oct. 2 (Yonhap) -- The outlook for listed companies' 2012 earnings is rapidly taking a turn for the worse as the global financial crisis is feared to dent their performances, a report showed Sunday.At the end of last month, local securities companies put the combined operating profit of 65 ma
Oct. 2, 2011
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National debt expected to rise by over 25 tln won in 2012
SEOUL, Oct. 2 (Yonhap) -- South Korea's national debt is likely to rise by more than 25 trillion won (US$21.1 billion) in 2012 from this year due to an increase in state bond issues, a government report showed Sunday.According to the report by the finance ministry, the country's national debt is est
Oct. 2, 2011
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S. Korea signs anti-counterfeiting agreement
SEOUL, Oct. 1 (Yonhap) -- South Korea on Saturday joined a multilateral accord aimed at combating counterfeiting and piracy of intellectual properties, Seoul's trade ministry said.A group of 11 parties have been in negotiations over the agreement, but eight countries, including Japan, the U.S., Sing
Oct. 2, 2011
