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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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Job creation lowest on record among under-30s
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FKI chief opposes scrapping tax cut plan
Huh had secret meeting with ex-P.M. Chung over ‘profit-sharing’The head of the Federation of Korean Industries has expressed his opposition to a ruling party move to scrap the tax reduction plan.Speaking at a press conference Tuesday, FKI chairman Huh Chang-soo, who is also GS Group chairman, said he opposes the plan because he believes companies can invest more when they have the means to do so.B
June 21, 2011
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Korea, Japan bourses mull cross-trading
Korea and Japan’s bourse operators are considering cross-trading as part of efforts to strengthen their footing amid rising competition among global exchanges, an official said Tuesday.The Korea Exchange and the Tokyo Stock Exchange held the first round of working-level talks on the issue late last month, according to a ranking official at the Korea Exchange.“No concrete plan has materialized yet,
June 21, 2011
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New chief for KDB asset management
Lim Hong-yongLim Hong-yong has become the new president at KDB Asset Management Co., Ltd. Lim was selected at the annual shareholders meeting on Tuesday. Former vice president of the company Lim studied business administration at Korea University. He was previously the executive director at KDB Asset Management, an affiliate of the state-run KDB Financial Group. He also served as manager of the Pl
IndustryJune 21, 2011
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Fate of Hyundai Capital CEO depends on sanction level
The Financial Supervisory Service is poised to decide whether to order stern disciplinary measures against the CEO of Hyundai Capital for incurring cyber attacks due to allegedly negligent internal controls.As officials of the regulatory body move to fine-tune the sanction level on Hyundai Capital CEO Ted Chung, he could be banned from holding a job in the financial industry for the next few years
June 21, 2011
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Number of centenarians almost doubles in 6 years
The number of Koreans aged 100 or more has almost doubled since 2005 under the country’s improved medical services, Statistics Korea said Tuesday.The number of centenarians numbered 1,836 in November, posting a 9.1 percent increase from 961 in 2005, the state agency reported in its census report compiled every five years.The number of females in the group, 1,580, exceeded their male counterparts,
June 21, 2011
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Creditors seek to sell Daewoo Electronics to Electrolux
Creditors of Daewoo Electronics Corp. are seeking to sell the third-largest electronics firm in Korea to a Swedish company following their failed sale efforts with the initial preferred bidder from Iran, sources said Tuesday.Creditors including Korea Asset Management Corp. sealed a contract in last November with Iranian electronics firm Entekhab Industrial Group to sell their combined 97.5 percent
June 21, 2011
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Local firms’ profitability dips in Q1
Korea’s overall corporate profitability worsened in the first quarter from a year ago as oil costs rose and the local currency’s gain dented prices of export goods, the central bank said Tuesday.The average ratio of operating profit to sales, a key barometer of profitability, reached 6.3 percent in the January-March period, down from 7.2 percent from a year earlier, the Bank of Korea said in a rep
June 21, 2011
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More tariffs cut in inflation fight
Charges on imports dropped on shortage items as prices soarThe government plans to extend tariff cuts for 35 out of 46 items due to expire this month and add 14 more items to the list to ease import cost burdens on local consumers, the Finance Ministry said Tuesday.Under the plan, items such as pork, garlic, mackerel, wheat, soybean oil, sugar, and coffee will continue to enjoy lower tariffs. The
June 21, 2011
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SK firm opens online site on scholarships
SK Communications said Tuesday it has launched a website that provides scholarship information involving 63 scholarship foundations and 110 different academic funding programs.The country’s online portal, which runs Cyworld, said it would also hold a briefing session in Seoul and Busan this week at two universities to explain how students could easily access information on various scholarships ava
TechnologyJune 21, 2011
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OECD urges Korea to address inequality
Korea should implement measures against social inequality to steer sustainable growth in the post-crisis era, the Organization for Economic Cooperation and Development said Tuesday.Though the country strongly rebounded from a global economic crisis, it still faces challenges such as unemployment, income and gender inequality, low birthrate and a lack of social protection, the organization wrote in
June 21, 2011
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IT stocks unlikely to rebound until Q3
Hard-hit Samsung, LG hoping for revival with smart devicesA prolonged underperformance of IT stocks, including Samsung Electronics, seems likely to continue right up until the third quarter.Experts were upbeat about the long-term resilience of the IT sector, but said the second quarter was not going to hold up as well as previously expected.“In general, second quarter earnings will show a decline,
IndustryJune 21, 2011
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Why is a Porsche like a peacock‘s tail? And who wants to date a guy in a Honda Civic?
A Porsche 911 Black Edition is seen at the Porsche SE annual shareholders meeting in Stuttgart, Germany, on Friday, June 17, 2011. (Bloomberg-Yonhap News)Everyone knows the racier the car, the racier the hormones.Now, researchers at the University of Minnesota have brought scientific precision to that age-old observation. To wit:Sexual signalling really works _ but not necessarily the way a young
TechnologyJune 21, 2011
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Aerosol reflectors in space proposed as climate change solution
Rajendra Kumar Pachauri, Chair of the Intergovernmental Panel on Climate Change IPCC speaks during the opening of the Nansen Conference on Climate Change and Displacement in the 21st Century in Oslo Monday June 6. 2011. (AP-Yonhap News)An U.N. body plans to develop a radical geo-engineering technology to blast aerosol "mirrors" in the space to tackle climate change, the Telegraph reported.The Int
TechnologyJune 21, 2011
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Hyundai-Kia top Asian carmaker in Europe
Hyundai Motor and its affiliate Kia Motors have secured the No. 1 position in sales among Asian carmakers in the European market, outstripping Toyota Motor.According to the European Automobile Manufacturers’ Association, Hyundai-Kia sold 58,585 vehicles in 28 European countries in May, grabbing 4.7 percent of the market.Though the two affiliated companies saw their market share inch down 0.5 perce
June 20, 2011
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Korea may struggle to meet power demand
Korea may be hard pressed to meet an expected hike in summer power use as demand growth is likely to exceed the country’s supply capabilities, the government said Monday.The country’s maximum power demand from June through August is forecast to rise 7 percent on-year to 74.77 million kilowatts, while supply will likely go up 6.2 percent to 78.97 million kilowatts, the Ministry of Knowledge Economy
June 20, 2011
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Samsung Electronics enters Japanese LTE market
Samsung Electronics marked its splash into the global fourth-generation telecom market in earnest with a contract for providing long-term-evolution equipment to Japan’s second-largest mobile phone operator.Samsung will be offering its LTE equipment to KDDI to help the firm launch its LTE services starting next year, the Seoul-based electronics company said on Monday.LTE is the fourth-generation of
IndustryJune 20, 2011
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Softbank aims for world top 10 in 30 years
CEO Son says company will help renewable energy industry through Internet technologyMasayoshi Son, chairman of Softbank Corp., said Monday that the company aims to be listed as one of the world’s top 10 firms in market capitalization in the next 30 years.In a press conference held in downtown Seoul, the 53-year-old chief executive officer said the firms belonging to the top 10 list have changed ra
IndustryJune 20, 2011
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Economy to expand 4.5% in 2011: KIET
Korea’s economic growth is expected to expand 4.5 percent on-year in 2011 as the steady pace of the global economic recovery contributes to more exports, a state-run think tank said Monday.The forecast by the Korea Institute for Industrial Economics and Trade is up from its earlier prediction of 4.3 percent.Last year, the Korean economy, Asia’s fourth-largest, expanded 6.2 percent. “The economy wi
June 20, 2011
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Think tank chiefs call for additional rate hike
The heads of Korea’s major think tanks Monday emphasized the importance of the nation’s continued efforts to “normalize” macroeconomic policies, citing a sufficient amount of liquidity unleashed in the domestic market.In their meeting with Finance Minister Bahk Jae-wan in central Seoul, they also shared the view that Korea’s economy is faced with growing external risks from slowing recovery in adv
June 20, 2011
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POSCO listed as world’s most competitive steelmaker for 2nd time
The steelmaker POSCO announced Monday that it was ranked top in the U.S.-based steel industry analysis firm World Steel Dynamics’ World-Class Steelmaker’s list for the second consecutive year. In this year’s report, World Steel Dynamics rated 34 steelmakers in 23 categories including technological capability, profitability and access to raw materials. POSCO scored 8.12 points to take the top spot.
IndustryJune 20, 2011
