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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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Job creation lowest on record among under-30s
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Opposition chief acquitted of instigating perjury
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Global luxury brands stingy on donations in Korea: data
Global luxury goods makers have raked in huge profits in South Korea over the past few years on the back of surging demand, but they have not been generous in making social contributions, data showed Thursday.The combined revenue of 15 global luxury makers in South Korea, including a local unit of t
IndustrySept. 8, 2011
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Korea scraps tax cut plans for firms, rich
Officials stress securing tax revenue, fiscal balance to ward off external risksThe government on Thursday decided to scrap plans to cut corporate tax rates for conglomerates, compromising following calls for fiscal balance and more spending on the poor.In a meeting to discuss tax revisions for the
Sept. 7, 2011
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Actions speak louder than words in nation-branding
Following is the first 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.Korea must seek to improve its image through actions, and not words, nation-branding specialist Simon Anholt says. Anholt, who
IndustrySept. 7, 2011
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Preparations in full gear for iDEA Herald Design Forum
Global forum will be held Oct. 5-6 with participating global companies, designers and studentsWith less than a month to go, organizers have begun preparing in earnest for the iDEA Herald Design Forum to ensure the successful hosting of the first forum of its kind in Korea to open in Seoul on Oct. 5.
IndustrySept. 7, 2011
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Hyundai, Kia top U.S. compact CUV market
Hyundai Motor Co. and its affiliate Kia Motors Corp. ranked No. 1 in the U.S. compact crossover utility vehicle market in the first eight months of this year, a report showed Wednesday.The report released by Autodata Corp., a U.S.-based automotive statistical data and market intelligence provider, s
IndustrySept. 7, 2011
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Weaker prices dent Korea’s IT exports
South Korea’s exports of information technology products shrank from a year earlier for the second straight month in August largely on lower global prices, the government said Wednesday.The country exported $13.06 billion worth of IT products last month, down 2.4 percent from $13.39 billion in the s
TechnologySept. 7, 2011
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SKC launches LED making subsidiary
The industrial materials maker SKC launched SKC Lighting, a light-emitting diode maker, on Wednesday.The new subsidiary was formed by merging the LED makers Sumray Corp. and Dooyoung.SKC entered the LED market by acquiring Sumray in January 2010, and acquired Dooyoung in April.At the launch ceremony
IndustrySept. 7, 2011
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Brokerages seek support to lift market status
Chief regulator urges CEOs to refrain from issuing credit loansCEOs in the brokerage industry called for financial authorities to map out measures for the South Korean stock market to be upgraded to developed status.Their request targets an upgrade from Morgan Stanley to reduce the “Korea discount”
Sept. 7, 2011
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Organic milk ‘overpriced,’ no better
A study found Wednesday that organic milk products cost up to three times more than standard milk products despite containing no fewer harmful substances or bacteria. Consumers Korea released its study on organic milk products of three major diary companies including Namyang Diary Products Co. and P
IndustrySept. 7, 2011
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Google denies unfair practices, promises to cooperate in probe
FTC antitrust investigators search company’s Seoul officeGoogle Inc. denied any alleged unfair business practices in Korea, the day after antitrust officials raided its Seoul offices on Tuesday. The Fair Trade Commission stormed Google’s office as part of its probe into an allegation that the global
IndustrySept. 7, 2011
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Bank household loan growth quickens
South Korean banks’ household loans rose for the seventh straight month in August on gains in home-backed lending, the central bank said Wednesday, fueling concerns over growing household debt.Local banks’ household loans, including mortgage and credit loans, totaled 448 trillion won ($417.8 billion
Sept. 7, 2011
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Households’ ability to service debt falling
South Korean households held an average of 50 million won ($46,620) in debt as of the end of June, data showed Wednesday, fanning concerns that rising household indebtedness may undercut economic growth.Debt per household reached 50.4 million won as of end-June, given that South Korea’s household cr
Sept. 7, 2011
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KITA sets up Vietnam office
Korea International Trade Association chairman SaKong Il (third from left), Ho Chi Minh City Vice Mayor Nguyen Thi Hong (second from left), Korean ambassador to Vietnam Ha Chan-ho (fifth from left), SeAH Steel Corp. chairman Lee Woon-hyung (eighth from left) and other officials cut the tape at a cer
IndustrySept. 7, 2011
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FSS, Korea Exchange to probe ‘celebrity stocks’
The Financial Supervisory Service and Korea Exchange have embarked on a joint investigation into alleged manipulation of stocks connected to politicians and well-known figures.A group of retail investors has been chasing so-called “celebrity stocks” related to politicians and famous figures without
Sept. 7, 2011
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14,400 bottles of wine as a gift to shipbuilder
Hyundai Samho Heavy Industries’ employees hold glasses of wine in front of the ship being built for the German shipping firm Peter Doehle in Yeongam, South Jeolla Province, on Wednesday. (Hyundai Samho Heavy Industries Co.)Hyundai Samho Heavy Industries Co. received 14,400 bottles of wine from a Ger
IndustrySept. 7, 2011
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‘iPhone to overtake Nokia in smartphone shipments’
U.S. IT giant Apple is set to become the world’s largest smartphone manufacturer by volume, overtaking Nokia for the first time, a report showed on Tuesday.According to DigiTimes, a Taipei-based daily, Apple is expected to take 19 percent of the global smartphone market with shipments of 86.4 millio
TechnologySept. 7, 2011
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Hyundai Oilbank launches ‘1 percent’ donation initiative
Executives and employees of Hyundai Oilbank pledged on Wednesday to donate 1 percent of their salaries each month via payroll deduction, stepping up the company’s social contribution efforts. Officials including chief executive Kwon Oh-gap and union leaders signed an agreement at its Seoul headquart
IndustrySept. 7, 2011
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LCD prices hit record low on oversupply, weak demand
Prices of liquid crystal display panels, a key export item for South Korea’s technology firms, plunged to all-time lows on oversupply and weak demand, industry data showed Wednesday. The latest data compiled by DisplaySearch showed that not only the prices of large-size LCD panels for TVs, but also
TechnologySept. 7, 2011
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Hite-Jinro unveils corporate identity, vision
Hite-Jinro Group has unveiled its new vision to enter the global market as it relaunches after merging Korea’s top beer and soju makers into a single liquor giant.Hite Brewery Co., the country’s biggest beer producer with a 55.8 percent stake in the Korean market as of last year, took over Jinro Co.
IndustrySept. 7, 2011
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Apple’s iPhone to overtake Nokia on smartphone shipment: report
U.S. IT giant Apple is set to become the world’s largest smartphone manufacturer by volume, overtaking Nokia, a report showed on Tuesday.According to DigiTimes, a Taipei-based daily, Apple is expected to take 19 percent of the global smartphone market with shipments of 86.4 million units this year.
IndustrySept. 7, 2011
