Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
First snow to fall in Seoul on Wednesday
-
4
Man convicted after binge eating to avoid military service
-
5
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
6
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
9
Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
-
10
Job creation lowest on record among under-30s
-
Korean economy grows 1.3% on-quarter in Q1
The South Korean economy grew at a slower pace than previously estimated in the first quarter as weaker domestic demand and sluggish facility investment offset robust exports, the central bank said Wednesday.The country's gross domestic product, the broadest measure of economic performance, grew a revised 1.3 percent in the January-March period from three months earlier, down from an earlier estim
June 8, 2011
-
POSCO begins works on synthetic gas plant
Works on the country’s first plant for producing synthetic natural gas got underway at POSCO’s steelworks in Gwangyang, South Jeolla Province on Tuesday.Synthetic natural gas is a synthetic fuel with an identical composition to natural gas. It is produced by gasifying coal under high pressure and temperature.The plant is scheduled for completion at the end of 2013, and will be capable of producing
IndustryJune 7, 2011
-
S&P ups outlook for Hyundai Motor
Standard & Poor’s revised its rating outlook for Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. to positive from stable, the ratings company said in a statement Tuesday.“The positive outlooks reflect our view that the four companies will continue to enhance their financial profiles, through stronger market positions and improved profitability.” The outlook revision came as Hyundai and K
IndustryJune 7, 2011
-
KT chief receives IT award
KT chairman Lee Suk-chae (center) receives the IEEE Distinguished Industry Leader Award in Kyoto on Tuesday. At right is IEEE fellow Lee Byung-ki and at left is head judge Vincent Poor. (KT Corp.)KT chairman Lee Suk-chae received the IEEE Distinguished Industry Leader Award on Tuesday, which is considered to be one of the most prestigious awards in the field of information and technology.Given by
IndustryJune 7, 2011
-
Groupon CEO still looking to expand overseas
The head of Groupon Inc. said Tuesday that the operator of the world’s largest daily discount website is seeking to enter overseas markets to further grow its business outside the United States.Groupon has expanded its business into 46 countries less than three years after its launch as the business model of linking local merchants with customers through half-priced deals turned out to be popular.
IndustryJune 7, 2011
-
Korea’s IT exports gain 4.7% in May
Korea’s exports of information technology products gained 4.7 percent on-year in May on steady global demand for mobile phones and rechargeable batteries, the government said Tuesday.The country shipped $13.38 billion worth of IT products abroad last month, despite stiff foreign competition and a general drop in demand caused by fewer people buying electronic products in springtime, the Ministry o
IndustryJune 7, 2011
-
LGE aims at 40% of Middle East, African markets
LG Electronic launched its Cinema 3-D televisions at Ferrari World, the world’s largest theme park in Abu Dhabi on Monday to mark its foray into the Middle East and Africa, the Seoul-based company said Tuesday. The electronics maker is now aiming for a 40 percent market share of the 3-D industry in the region. “We believe that our products will be able to offer distinguished, next generation 3-D t
IndustryJune 7, 2011
-
Seoul eyes 18% of global green energy market
Knowledge Ministry reveals road map for developing eco-friendly energy resourcesThe Ministry of Knowledge Economy on Tuesday revealed a roadmap for developing eco-friendly energy resources aiming to create 1.5 million jobs and cut carbon dioxide emissions by 210 million metric tons by 2030.The roadmap also lays out plans to create a 94 trillion won ($87 billion) domestic market and exports of 328
IndustryJune 7, 2011
-
Seoul stocks fall 0.65% on economic woes
Korean stocks closed 0.65 percent lower on Tuesday as oil refiners and auto companies tumbled on economic slowdown fears and concerns over oil price falls, analysts said. The local currency lost ground against the U.S. dollar.The benchmark KOSPI skidded 13.76 points to 2,099.71, extending its losing run to a fourth straight session. Trading volume was light at 243.8 million shares, worth 6.1 trill
June 7, 2011
-
BOK looks tilted toward rate freeze
Korea’s central bank may leave the key rate unchanged for the third straight month for June in the face of lingering economic uncertainty, including the eurozone debt woes, a poll showed Tuesday.Nine out of 15 economists forecast that the Bank of Korea will freeze the benchmark seven-day repo rate at 3 percent on Friday, according to the survey by Yonhap Infomax, the financial news arm of Yonhap N
June 7, 2011
-
Experts emphasize R&D for growth, integration
Academics and leaders in the industrial and public sectors around the world underscored Tuesday the significance of research and development in securing sustainable, mutual growth.Around 500 officials and experts in science and technology from more than 10 countries took part in the Global R&D Forum 2011 hosted by the Ministry of Knowledge Economy in Seoul. International scholars and experts atte
IndustryJune 7, 2011
-
Credit card firms face weekly monitoring
Regulators mull business suspension, warning CEOs on violatorsCredit card companies which will fail to meet new regulatory standards will face tougher sanctions such as business suspension, financial regulators said Tuesday.In addition, regulators are expected to turn up the heat on card company CEOs as they are poised to issue a censure-level warning against rule-violators.As credit card issuers
June 7, 2011
-
Tech companies brace for cloud computing
KT, LG CNS lead Korean firms moving into what promises to be key industryWith Apple Inc. officially announcing its dive into cloud computing, many local players believe the field is likely to become the next hottest trend of the mobile Internet era.Cloud computing technology enables people to access data and software, which are stored on servers and devices, through the Internet, making the inform
TechnologyJune 7, 2011
-
Lunch with guru Buffett: $2 million and counting
Alert: if you want to have lunch with the Oracle of Omaha, it's going to cost you more than $2 million.The annual charity auction of a lunch with investment guru Warren Buffett got underway Monday, and just hours into the five-day bidding battle, the price was already at $2,000,111.The founder and wizard of investment house Berkshire Hathaway has put a meal with him on the auction block every year
IndustryJune 7, 2011
-
Sales of imported vehicles jump 22 pct in May
SEOUL (Yonhap) -- Sales of imported vehicles in South Korea surged 22 percent last month from a year earlier on demand for new models and aggressive marketing strategies by local dealers, a trade association said Tuesday.A total of 8,777 imported vehicles were sold here in May, compared with 7,193 units sold a year earlier, according to the Korea Automobile Importers and Distributors Association (
MobilityJune 7, 2011
-
Still-frail Jobs appears to hail Apple's latest
SAN FRANCISCO (AP) - Steve Jobs re-emerged from his latest medical leave Monday to show off Apple Inc.'s latest innovations and sustain the hope that he eventually will return to dream up more ways to reshape technology. The highlight, as usual, came at the end of Jobs' presentation. He was onstage for less than 30 minutes during a nearly two-hour event that primarily featured his subordinate
TechnologyJune 7, 2011
-
Germany backtracks on sprouts as E. coli source
HAMBURG, Germany (AP) _ First they pointed a finger at Spanish cucumbers. Then they cast suspicion on sprouts from Germany. Now German officials appear dumbfounded as to the source of the deadliest E. coli outbreak in modern history, and one U.S. expert has called the investigation a ``disaster.'' Backtracking for the second time in a week, officials Monday said preliminary tests have found n
TechnologyJune 7, 2011
-
Three-way ties can create level playing field
A tripartite tie-up between multinational companies, conglomerates and small- and mid-sized firms is one way the Korean government can attempt to cope with the daunting task of leveling the corporate playfield, says the head of the Korean CEO’s Association of Multinational Corporations.“We may have the drive and means for helping these small- and mid-sized companies, but it can’t be done without a
IndustryJune 6, 2011
-
3-D LCD panel sales surge in first quarter
Sales of locally made three-dimensional liquid crystal displays surged 104 percent in the first quarter compared to the last three months of 2010, mainly fueled by a rise in global demand, an industry report showed Monday.According to the report by market research firm DisplaySearch, Korean-made 3-D LCD shipments reached 1.90 million units in the three-month period. It said the size of the market
IndustryJune 6, 2011
-
Volvo recalls trucks with faulty steering
Volvo Group Korea is recalling 49 FH and FM truck models due to a fault in the steering system, the Ministry of Land, Transport and Maritime Affairs announced Monday. According to the ministry, the bolt keeping the steering arm in place in FH 6X4, FH 6X2 and FM 6X2 trucks produced between Dec. 13 and Jan. 14 may come loose. The recall applies to 39 FH 6X2 trucks, and five each of FH 6X4 and FM 6X2
IndustryJune 6, 2011
