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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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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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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Foreigners’ land ownership up 0.7%
Foreigners’ ownership of South Korean land edged up 0.7 percent in the first quarter from three months earlier, posting a much slower growth rate seen before the recent global financial crisis, the Land Ministry said Sunday.As of the end of March, foreigners owned a combined 225.3 million square kilometers of land, 1.57 million square kilometers more than at the end of 2010, the Ministry of Land,
May 29, 2011
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Airlines set to hike fuel surcharges
Korean airlines are expected to jack up their fuel surcharges on international flights for July and August, but the increase rate will likely slow amid easing fuel prices, officials and industry sources said Sunday.The average price of jet fuel hovered at about $3.16 a gallon on the Singaporean spot market from April to May 28, compared with $3.02 per gallon between February and March, according t
May 29, 2011
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U.S. consumers give 3-D two thumbs up
Almost 90 percent of U.S. consumers have given high ratings to the picture quality of 3-D televisions and did not mind the battery-charged eyewear used to watch the three-dimensional images.Up to 88 percent of some 3,065 3-D-capable set owners who participated in a poll commissioned by The Digital Entertainment Group said last week that they were satisfied with their 3-D home viewing experience an
IndustryMay 29, 2011
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Drug makers fined W3b for illicit rebates
The Fair Trade Commission imposed a combined 3 billion won ($2.78 million) in fines on nine pharmaceutical companies for unfair trade practices, including the provision of illegal rebates to doctors and wholesalers, it said Sunday.The toughest punishment of 753 million won was slapped on Pacific Pharma Corp., for paying kickbacks to doctors in forms of gift cards, golf tours and cash.Those involve
May 29, 2011
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S-Oil Corp. expands petrochemical agent facilities in Ulsan
S-Oil Corp., the country’s third-largest oil refinery, said Sunday its expanded plant for paraxylene and benzene is now in full operation, taking a step forward in cultivating the petrochemical business as a future growth engine. Paraxylene and benzene are aromatic hydrocarbons generated by catalytically reforming naphtha, a petrol derivative. The two substances are key for production of polyester
IndustryMay 29, 2011
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Hyundai E&C seeks edge with aluminum cables
Hyundai Engineering and Construction is looking to boost efficiency and cut costs by using aluminum cables in place of copper ones.According to the company, it has been working with a cable manufacturer to develop aluminum cables for low voltages that meet Korean standards since last year. The company was able secure a source of aluminum cables that passed Korea Electrical Safety Corp.’s safety st
May 29, 2011
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LG aims W50tr to go from smokestack to high-tech
OCHANG/CHEONGJU, North Chungcheong Province ― LG Group’s chemical affiliates is targeting 50 trillion won ($46 billion) in sales by 2016 in a bid to complete the firms’ transition from smokestack to high-tech.The combined sales target of LG Chem, LG Household & Healthcare, LG Hausys and LG Life Sciences would mean double the 24.8 trillion won they raised last year. The growth, LG said, would be dr
IndustryMay 29, 2011
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Hyundai Mobis in world’s top 10 suppliers
Hyundai Mobis, Korea’s leading auto parts maker, was named one of the world’s top 10 suppliers on the back of robust sales, an industry report showed Sunday.According to the report by Detroit-based Automotive News, Mobis was ranked as the eighth-largest parts manufacturers in 2010 in terms of sales, up four notches from the previous year.Its revenue jumped 28.7 percent to $14.43 billion last year
IndustryMay 29, 2011
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Low birthrate to maim Korea’s growth: OECD
A low birthrate and rapidly aging population is projected to pull South Korea’s economic growth rate from second place to ninth among Organization for Economic Cooperation and Development members by 2026.A report by the club of 34 major economies said the annual rate of growth in the South Korean economy will fall to 2.4 percent after 2026, a sharp downturn from its 6.2 percent expansion in 2010,
May 29, 2011
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Seoul shares likely to gain ground this week
The Korean stock market is forecast to maintain its upward momentum this week, but the growth pace may be slow due to lingering concerns about the global recovery, analysts said.The benchmark KOSPI wrapped up last week at 2,100.24, down 0.53 percent from a week earlier.The KOSPI lost ground earlier last week as weaker U.S. economic data and the eurozone debt crisis raised concerns about the global
May 29, 2011
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N.K. trade up 22% in 2010: report
North Korea’s trade volume soared 22 percent in 2010 from a year earlier as the communist state boosted exports of minerals to earn hard currency and increased imports of fuels, mostly oil, a local trade agency said Friday.North Korea’s imports and exports, excluding those with South Korea, jumped 22.3 percent on-year to $4.17 billion last year, according to the state-run Korea Trade-Investment Pr
May 29, 2011
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Business sentiment remains positive for June
Korea’s major companies remain positive about their business conditions for June on expectations of growing exports and improving economic conditions, a poll showed Sunday.The monthly Business Survey Index for the upcoming month came in at 104.3, unchanged from May when the reading turned positive after it dipped to 98.4 the previous month, according to the Federation of Korean Industries, the cou
May 29, 2011
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Listed firms change CEO every 31 months: data
The average term of a chief executive officer at listed firms was 31 months, data showed on Sunday.It was also found that a single firm reseated its CEO an average of 3.7 times over the past 10 years, according to data released by Chaebul.com, a website that provides information on the country’s conglomerates. The survey was conducted on 992 listed firms.A firm that changed its chief executive in
May 29, 2011
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More foreigners take insurance
Top Korean firms see surge in foreign customers here The loan default rate of KoreanThe number of foreigners subscribed to insurance in Korea last year doubled from 2005, mainly due to relaxed application procedures and the rising number of international marriages, industry sources said Sunday.The number of foreigners who have subscribed to insurance offered by the country’s top three insurance fi
May 29, 2011
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Lamborghini to launch new ‘everyday’ model
MobilityMay 29, 2011
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Volkswagen sees new U.S. plant as key to topping Toyota Motor
MobilityMay 29, 2011
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India’s Tata Motors reports flourishing profits, led by JLR
MUMBAI (AFP) ― India’s top vehicle maker Tata Motors on Thursday reported a nearly fourfold increase in annual profit, boosted by booming sales and strong demand for British brands Jaguar and Land Rover.Net profit was 92.7 billion rupees ($2.04 billion) for the year to the end of March 2011, up from 25.7 billion rupees in the previous year, the company said in a statement to the Bombay Stock Excha
MobilityMay 29, 2011
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Jaguar draws customers with unique designs
Jaguar is targeting the Korean market by launching modern sedans and increasing the number of showrooms in major cities here.Its unique and beautiful designs are attracting Korean customers, especially people who want to buy a different type of car.“Many owners of BMW or Mercedes-Benz have replaced their cars with Jaguar models,” a Jaguar-Land Rover Korea spokesman said.“While vehicles of German o
MobilityMay 29, 2011
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Korea, Germany vie to be world’s No. 4 carmaker
Seoul is projected to capture 11% of the world’s auto production market within four yearsKorea has been striving to become one of the world’s four largest automakers, though the nation ranked fifth for six consecutive years between 2005 and 2010.Though Korea grabbed fourth place in the global auto manufacturing ranking in 1997, it suffered difficulties in the wake of the 1997-98 financial crisis.N
MobilityMay 29, 2011
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Coffee drinkers won’t get break on higher prices
Colombia, the second-largest producer of mild arabica coffee bought by companies such as Starbucks Corp. and Nestle SA, said consumers will have to get used to higher prices because of rising demand and reduced supply. Production next year will fall short of consumption, keeping the cost of arabica coffee in a range of $2 to $3 a pound for the next 12 months, according to Colombian National Coffee
IndustryMay 29, 2011
