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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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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Opposition leader awaits perjury trial ruling
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SK China enters car rental business
HONG KONG (Yonhap News) ― The Chinese subsidiary of South Korean conglomerate SK Group said Thursday it has entered the car rental business in a bid to tap into the world’s most populous country.SK China Co. said it started renting automobiles this month in nine cities, including Beijing, Hangzhou and Shenyang.It currently has 1,200 vehicles, including sedans and sport utility vehicles manufacture
IndustryJuly 28, 2011
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Lotte Chilsung absorbs liquor affiliate
South Korea’s top soft drink maker Lotte Chilsung Beverage Co. said Thursday that it decided to absorb and merge with Lotte Liquor BG Co., its alcoholic beverage affiliate, to boost shareholder value.Lotte Chilsung said the merger will take effect on Oct. 1, and the merger ratio will be 1:0. Lotte Chilsung holds a 100 percent stake in Lotte Liquor.“The merger is aimed at maximizing shareholder val
IndustryJuly 28, 2011
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Daewoo Shipbuilding Q2 net slips 3.6 pct
Daewoo Shipbuilding & Marine Engineering Co. said Thursday that its second-quarter earnings fell 3.6 percent from a year earlier as it filled more orders for low-priced ships that were won following the global economic downturn.Net income reached 170 billion won ($162 million) in the April-June period, compared with a profit of 177 billion won a year earlier, the company said in a regulatory filin
IndustryJuly 28, 2011
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S-Oil Q2 net profit more than quadruples
S-Oil Corp. said Thursday its second-quarter net profit more than quadrupled compared to a year earlier, driven by brisk sales of petrochemicals and lubricants.In a regulatory filing, Korea’s No. 3 refiner posted 239.7 billion won ($227.7 million) in net profit for the April-June period, up 346.4 percent year-on-year.Sales shot up 63.4 percent to top 8 trillion won for the same period, setting a r
IndustryJuly 28, 2011
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Hyundai Steel posts record quarterly figures
Hyundai Steel said Thursday its earnings hit new highs in the April-June period, breaking the previous record set in the first three months of this year.The company posted sales of 4.05 trillion won ($3.8 billion) for the second quarter. This is the first time Hyundai Steel has posted quarterly sales of more than 4 trillion won. In comparison to the same period last year, Hyundai Steel’s sales hav
IndustryJuly 28, 2011
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Hyundai Motor’s profit up 37% in 2nd quarter
Hyundai Motor Co., the nation’s largest carmaker, logged a 37 percent increase in net income for the second quarter, beating consensus forecast on record overseas sales benefited from the demand-drop for Japanese carmakers after the March earthquake.The company posted a net income of 2.3 trillion won ($2.2 billion) in the April-June period, posting a sharp increase from 1.68 trillion won in the sa
IndustryJuly 28, 2011
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KT aims to change mobile phone distribution structure
KT Corp. announced Thursday that it is introducing a set of measures, including a fair price system, to revolutionize the mobile phone distribution process that has been untouched for 20 years.Pyo Hyun-myung, president of the mobile business group at KT, told reporters that it will publicize the price of the company’s mobile phones to its customers for them to purchase the gadgets at a fair price
IndustryJuly 28, 2011
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Brokerage firms set to increase equity capital
But they remain skeptical about M&As at present stageMajor securities firms are moving to meet the regulatory requirements in a bid to attain recognition as large-sized investment banks.The brokerages, such as Daewoo Securities and Samsung Securities, are poised to resort to increasing their equity capital as an initial step rather than pushing for mergers among them.Most of them plan to increase
July 28, 2011
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Ratio of exports to GDP hits new record in Q2
The weight of exports in the South Korean economy hit an all-time high in the second quarter, central bank data showed Thursday, underlining the country’s heavy dependence on overseas shipments for economic growth.Seasonally adjusted exports of goods and services amounted to 141.7 trillion won ($134.6 billion) in the April-June period, or 52.68 percent of the gross domestic product, according to t
July 28, 2011
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SKT on road to mutual growth
Country’s top mobile carrier signs shared growth agreement with 360 partnersSK Telecom, the country’s top mobile carrier, is on the road to emphasizing mutual growth as it embarks on a number of projects with its smaller subcontractors.On Tuesday, SKT pledged mutual growth with its seven partners on establishing a nationwide network for fourth generation Long Term Evolution technology. The seven p
IndustryJuly 28, 2011
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Sonata, K5 hybrids draw global attention
Hyundai-Kia gear up to catch up with Toyota hybridsHyundai Motor and Kia Motors had fallen behind Toyota Motor and Honda Motor in developing fuel-efficient and eco-friendly vehicles.But the nation’s two affiliated companies have plunged into keen competition to dominate the international green car markets by launching the hybrid version of popular sedans this year.“While we have joined the growing
MobilityJuly 28, 2011
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Japan’s retail sales rise for first time since quake
Japan’s retail sales rose in June, exceeding all economists’ forecasts, adding to signs that the economy is bouncing back from an initial post-disaster plunge. Sales rose 1.1 percent in June from a year earlier, the Trade Ministry said Thursday in Tokyo. The median estimate of 16 economists surveyed by Bloomberg News was for a 0.5 percent decline, with the highest estimate for a 0.6 percent gain.
IndustryJuly 28, 2011
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Obama to set fuel standard goal
IndustryJuly 28, 2011
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U.S. eyes debt compromise under deadline squeeze
IndustryJuly 28, 2011
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Asia faces rising price pressures: ADB
Asian economies’ growth slowdown, inflation concerns remainAsian policy makers need to tackle rising inflationary pressures in their economies even as global growth weakens, the Asian Development Bank said. The region can use monetary and fiscal policies as well as exchange rates to ease price pressure, the Manila-based lender said in its Asia Economic Monitor report Thursday. Asian economies also
IndustryJuly 28, 2011
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K-water head reappointed
Kim Kuen-ho, chief executive of the Korea Water Resources Corp., will retain the office for another year, the Ministry of Land, Transport and Maritime Affairs said Tuesday.The ministry said it received approval from President Lee Myung-bak for its request that Kim be reappointed for an additional year. His three-year term expired Wednesday. Kim Kuen-hoThe decision reflects the ministry’s efforts t
IndustryJuly 28, 2011
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35m Cyworld, Nate users’ information hacked
SK Communications Co. said on Thursday that personal information of its 35 million online users has been hacked, marking South Korea’s worst online security breach and sparking fears that the leak could lead to massive online and voice scams in coming weeks. (Yonhap News)“The company has confirmed that a leak of customers’ information has taken place due to hacking on July 26,” SK said in a state
TechnologyJuly 28, 2011
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Venereal diseases in elderly women on rise
Venereal disease among the elderly population is rising, the Ministry of Health and Welfare revealed Monday.According to the National Health Insurance Corporation, a ministry affiliate, the number of people treated for various venereal diseases marked 352,000 in 2010, up 19,000 from four years ago. Women outnumbered men: Female patients marked 249,000 compared to 102,000 men. The rate of increase
TechnologyJuly 28, 2011
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Leukemia patient’s lung transplant
Doctors at Gangnam Severance Hospital successfully transplanted a pair of lungs to a leukemia patient for the first time in Korea, the medical center said Tuesday.Dr. Paik Hyo-chae and Dr. Haam Seok-jin of the hospital said the patient, a 21-year-old male, received the operation in September last year and is recovering. The man had received a bone marrow transplant in June 2008 when his lungs show
TechnologyJuly 28, 2011
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First name tag on tooth developed
A group of doctors here has developed a special marker that can be stuck onto teeth for identification. A patent has been filed for the marker.According to Dental Leaders Club, the “tooth label” is made of “inlay,” a material to fill in cavities, and is stuck to the face of a back tooth. There, the name, national identification number as well as emergency contact are written. “Inlay is quite solid
TechnologyJuly 28, 2011
