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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First snow to fall in Seoul on Wednesday
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Man convicted after binge eating to avoid military service
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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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Market competition crucial for curbing inflation: minister
Korea needs to boost market competition further in order to fight high inflation, the biggest headache for the economy, the top economic policymaker said Monday.The remarks by Finance Minister Bahk Jae-wan come as South Korea is struggling with high inflation. The country’s consumer prices surged 4.1 percent on-year in May, hovering above the 4 percent level for five months running and well above
June 13, 2011
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FSC faces hurdle over Woori sale
Opposition party against revising law on financial holding firmsThe sale of state-run Woori Financial Group faces a significant showdown this week as to whether financial authorities can gain the momentum needed to push for the revision of laws on financial holding companies.The Financial Services Commission is considering proposing a revision to a bill allowing a financial group to own another fi
June 13, 2011
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Samsung Electronics, SKT most favored workplaces
Samsung Electronics and SK Telecom were picked as the best companies for people to work in a survey released by an economic consulting firm on Monday.The Korea Management Association Consultant said Samsung Electronics received the highest marks in manufacturing and SKT was rated No. 1 in service providers when selecting the top company to work for in Korea in a survey answered by 5,214 people.Sam
IndustryJune 13, 2011
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POSCO’s China subsidiary completes plant expansion
Zhangjiagang Pohang Stainless Steel, a China-based stainless steel subsidiary of POSCO, on Monday completed the facility expansion project that pushes up its annual production capacity to 1 million metric tons.Located in Zhangjiagang, Jiangsu Province, Zhangjiagang Pohang Stainless Steel or ZPSS is 82.5 percent held by POSCO. The remaining 17.5 percent is held by China’s Shagang Group. POSCO also
IndustryJune 13, 2011
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LGE commits to basics, quality
Electronics maker pledges further greenhouse gas emission cuts, labor rights promotionLG Electronics vice chairman and CEO Koo Bon-joon called for the electronics maker to commit to the basics in its sixth sustainability report issued last month, the Seoul-based company said on Monday.“The most important principle for a company to maintain its sustainability is essentially to secure competence in
IndustryJune 13, 2011
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Machinery orders drop in Japan
Japan’s machinery orders fell for the first time in four months in April, an indication that companies are reluctant to spend after the March 11 earthquake and tsunami. Factory orders declined 3.3 percent in April from March, when they rose 1 percent, the Cabinet Office said Monday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to increase 1.7 percent, ac
IndustryJune 13, 2011
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Rooftop garden soothes patients
Cancer center offers respite, spiritual oasis for the sickHACKENSACK, New Jersey ― For just a moment, patients can forget they’re in a cancer center.The Manhattan skyline offers a spectacular background for lush boxwoods, vibrant flowers, and the herbs and vegetables growing in the rooftop garden at the John Theurer Cancer Center at the Hackensack University Medical Center.The garden, outside a gl
TechnologyJune 13, 2011
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Scientists find genes linked to migraines
Scientists have uncovered a trio of genes tied to migraine headaches, including one in which the link is exclusive to women, according to a study published Sunday. Migraines are acutely debilitating headaches -- sometimes with an "aura", in which patients have the impression of seeing through frosted glass -- that strike up to 20 percent of the population. Scientists describe the condition,
TechnologyJune 13, 2011
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Roubini says ‘Perfect Storm’ may threaten global economy
June 13 (Bloomberg) -- A “perfect storm” of fiscal woe in the U.S., a slowdown in China, European debt restructuring and stagnation in Japan may converge on the global economy, New York University professor Nouriel Roubini said.There’s a one-in-three chance the factors will combine to stunt growth from 2013, Roubini said in a June 11 interview in Singapore. Other possible outcomes are “anemic but
June 13, 2011
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Monster black hole twins found in galaxy center
Scientists have found two rare active, “supermassive” black holes about 425 million light-years away, Space.com reported. The galaxy Markarian 739 in the constellation Leo is known to have one enormous black hole at its core. New observations by NASA’s Swift satellite and the Chandra X-Ray Observatory revealed that the galaxy, which resembles a smiling face, has another monster black hole at its c
TechnologyJune 13, 2011
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SKT short of savvy in overseas markets
Unsuccessful ventures eat into mobile carrier’s valueSK Telecom, the nation’s No.1 wireless service provider, has proved to be far from savvy when it comes to overseas ventures. After unsuccessfully knocking on the doors of numerous overseas markets including the U.S. and China for six years, the company was forced to call it a day. The failure was such that former SKT chief executive Chung Man-wo
IndustryJune 12, 2011
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Hyundai Heavy to build world’s 1st offshore LNG storage unit
Hyundai Heavy Industries announced Sunday that it would build the world’s first floating storage and re-gasification unit for liquefied natural gas.A floating storage and re-gasification unit or FSRU is a vessel for storing liquefied natural gas at sea. It is connected to facilities on land by pipelines, through which re-gasified LNG is transferred.According to the company, it was awarded a $500 m
IndustryJune 12, 2011
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Hyundai family eyeing Hynix Semiconductor
Hyundai powerhouses are reportedly interested in acquiring the 15 percent stake in Hynix Semiconductor that will be put up for sale later this month, financial sources said on Sunday. Among them, Hyundai Heavy Industries is seen as one of the most viable candidates, industry sources said. The biggest motivation for the company is its undying desire to gather all the Hyundai affiliates under one ro
IndustryJune 12, 2011
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Shares likely to be range-bound
South Korean stocks are expected to trade in a narrow range this as investors step to the sidelines amid a lack of upward momentum and signs of a slowdown in the U.S. economy, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed last week at 2,046.67, down 3.16 percent from a week earlier.The KOSPI got off to a weak start at the beginning of the weak, as downbeat j
IndustryJune 12, 2011
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Korea to pull out all stops against inflation
The government plans to make all-out efforts to stem growing inflationary pressure as South Korea faces potential difficulties in taming inflation in the second half, officials said Sunday.Finance Minister Bahk Jae-wan presided over a meeting with ministers on Friday to discuss ways to stabilize consumer prices where he suggested 22 policy steps, including the stable management of macroeconomic fa
IndustryJune 12, 2011
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Seoul mulls public funds to rescue savings banks
South Korea is mulling injecting public funds to rescue ailing local savings banks in an effort to overhaul the troubled sector in the second half, sources said Sunday.The government is seeking to put seven teetering savings banks up for sale this year, whose operations have been suspended since January due to a pile-up in soured construction loans and weak capital positions.The Financial Services
IndustryJune 12, 2011
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Emirates passengers slam response to delay
Emirates Airlines is in hot water over its response to a delayed flight from Incheon to Dubai.While the flight was delayed due to unforeseen circumstances, passengers for the flight complained that the company’s response was inefficient and unprofessional. According to one passenger, the company did not make a public announcement explaining the situation, and the explanations provided at the airpo
IndustryJune 12, 2011
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Blue House dragging feet on BOK vacancy
Seat on rate-setting committee has been empty for over a yearThe presidential office has failed to address filling a vacant seat at the central bank’s interest rate-setting panel for 14 months despite the growing need to fight mounting inflationary pressure.In tandem, Bank of Korea Governor Kim Choong-soo has been criticized for allegedly glossing over laws on the BOK concerning the bank’s Monetar
June 12, 2011
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Hyundai Mobis wins Mitsubishi, Subaru order
MobilityJune 12, 2011
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Small cars to take up half of import market
Small vehicles with low engine displacement are expected to account for 50 percent of the total sales of import vehicles in South Korea as early as the third quarter.The ratio of cars with an engine capacity of less than 2.0 liters to the total number of cars sold came to 45.2 percent in May.They sold 3,969 small-sized cars ― at low and medium priced ― out of the total 8,777 units last month, acco
MobilityJune 12, 2011
