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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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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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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S. Korea not to attend Sado mine memorial: foreign ministry
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Korea, Latin America to work on energy, green growth
The two-day High-Level Forum on Korea-LAC Partnership began in Seoul on Wednesday. Held for the third time, high-level officials from 11 Latin American countries including First Vice President of Costa Rica Alfio Piva Mesen are attending the event.The main topic of this year’s discussions are ways to increase cooperation between Korea and Latin American nations in the field of trade, investment, e
May 18, 2011
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Mobile trading soars amid network concerns
Korean bourse says it will tighten supervision of stock trades made on mobile devicesStock trading through smartphones, tablet computers and other wireless devices is expected to exceed 150 trillion won ($138 billion) this year amid growing concerns about network security, market watchers said on Wednesday.The Korea Exchange said the amount of stock trading done using wireless mobile devices toppe
May 18, 2011
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[Meet the CEO] Fuji Xerox aims to sell 100,000 printers
Company increases Korean sales target for this year to 80 billion wonWith a goal of selling 1 million printers in the Asia-Pacific region, Fuji Xerox Printers Korea plans on introducing its products to 100,000 people here this year.Hwang Yoo-chun, chief executive officer of the company, said that it has fixed its target at 100,000 printers in Korea alone, as well as 500,000 printers in China.“We’v
IndustryMay 18, 2011
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Businesses fire up anti-smoking efforts
Companies use incentives, anti-smoking aids and negative evaluation to help smokers quitKeeping abreast with growing anti-smoking campaigns, major companies are stepping up efforts to drive cigarette smoke from the workplace. Some big companies use a “carrot and stick” policy, such as offering incentives, anti-smoking aids and even negative evaluation, to help employees quit smoking.The world’s fo
IndustryMay 18, 2011
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Coffee cuts risk of lethal prostate cancer: study
More is better when it comes to drinking coffee to ward off the risk of deadly prostate cancer, according to a major US study released Tuesday by researchers at the Harvard School of Public Health.Men who drank six or more cups per day had a 60 percent lower risk of developing the most lethal type of prostate cancer and a 20 percent lower risk of forming any type of prostate cancer compared to men
TechnologyMay 18, 2011
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Woori Financial to be sold off in single package
KDB said to be leading potential bidder for September sale of bankThe financial authorities announced Tuesday that the state-controlled Woori Financial Group would be handed over to an investor through a bidding competition by September.The Public Fund Oversight Committee said that it would sell the nation’s largest financial group by assets in a “package deal.” The official announcement came amid
May 17, 2011
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Korea grants permanent residency to seven European businessmen
Korea granted permanent residency to seven European entrepreneurs on Tuesday, acknowledging their contribution to the country’s economic growth. The recipients have lived here for two to 13 years largely working for European investment firms and were recommended by the European Union Chamber of Commerce in Korea. The list includes Friedrich Stockinger, president of Trumpf Korea; Holger R. Doerre,
IndustryMay 17, 2011
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Lotte Mart reignites pricing debate with W7,000 chicken
Lotte Mart has begun selling bargain chicken priced at 7,000 won ($6.42), reigniting controversy over fair competition between large retailers and smaller eateries.The black garlic flavored chicken has been on sale since Thursday at the retailer’s 88 stores across the country at a price 2,000 won cheaper than its earlier chicken release in December. As sales of its earlier product, dubbed ultra ch
IndustryMay 17, 2011
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GS Caltex extends retirement, adopts peak salary system
The country’s second largest refiner GS Caltex Co. announced Tuesday that it will raise the retirement age by two years and apply peak salary system from next year.Under the agreement GS Caltex reached with its labor union last month, the retirement age will be raised from 58 to 60 years of age from Jan. 1, 2012. With the peak salary system taking effect on the same date, the base pay for workers
IndustryMay 17, 2011
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Korea to provide paperless customs service
The Korea Customs Service will add an electronic tracking system on goods to tighten supervision on transshipment while enhancing custom procedures for an economy increasingly opening up to free trade agreements, the state agency said Tuesday.In a proposal outlining the agency’s medium-term goals, the KCS said it will adopt the new inspection system that applies minimal customs procedure for hones
May 17, 2011
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NCsoft’s profit falls in Q1 on falling popularity of AION
NCsoft Corp., the country’s second-biggest online game publisher, said Tuesday it posted 155.4 billion won ($142.23 million) in sales and 46.1 billion won in operating profit in the first quarter, both figures down from the same period last year.In its quarterly earnings report, the Seoul-based firm said that its sales and operating profit slipped 7 percent and 40 percent year-on-year, respectivel
TechnologyMay 17, 2011
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College graduates now make up lion’s share of workforce
College graduates took up a bigger portion of the country’s workforce than high school graduates for the first time, Statistics Korea said Tuesday.Jobs taken by graduates from universities and vocational colleges totaled 9.54 million as of March, exceeding those taken by high school graduates, 9.5 million.The trend continued through April, with college graduates topping the figure by 25,000 at 9.5
May 17, 2011
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Bad loans may spur liquidity problem for securities firms
Local securities firms are bracing for the possibility of a liquidity crisis brought on by financial woes in the sluggish construction sector.The firms are closely monitoring the progress of a group of savings banks already suffering from overdue “project financing loans” issued to builders.The risk growing in the stock brokerage sector is due to asset-backed commercial papers, a type of securitie
May 17, 2011
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The Macallan looks to revive chemistry with art
The Macallan premium single malt whisky from Speyside, Scotland, is returning to Korea with a new special edition, aiming to generate chemistry between whisky and the legendary photographer Albert Watson.For the biennial “Master of Photography” project, the Scottish distillery selects an artist to portray the craft of whisky-making through photography. Photographer Albert WatsonFollowing the firs
IndustryMay 17, 2011
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What’s your favorite app?
Applications related to media, games, lifestyles most profitableChoi Hyun-young, a wedding planner by profession, says life has become so much easier since downloading Awesome Note on her smartphone. The application ― which is basically an online organizer and note-taker ― helps Choi keep her hectic schedule intact with customized folders for work and her personal life, under which she keeps and m
IndustryMay 17, 2011
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EU clears Portugal bailout
Ministers sign off on $110b in rescue loans, continue to wrestle over GreeceBRUSSELS (AP) ― European governments insisted on handing out bailouts to fight the debt crisis on Monday, when they signed off on 78 billion euros ($110 billion) in loans to Portugal and debated giving Greece a second rescue package to avoid a disastrous default.Most of the terms for Portugal’s package had emerged over the
IndustryMay 17, 2011
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Could exoplanet be a haven for life?
Scientists said on Monday a rocky world orbiting a nearby star was confirmed as the first planet outside our solar system to meet key requirements for sustaining life.Modelling of planet Gliese 581d shows it has the potential to be warm and wet enough to nurture Earth-like life, they said.It orbits a red dwarf star called Gliese 581, located around 20 light years from Earth, which makes it one of
TechnologyMay 17, 2011
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Brokerages favor directors from watchdog
Major securities companies are eager to recruit outside directors, mainly from government agencies with investigative power.Their recruitment practices have been regarded as a conventional strategy aimed at lobbying the agencies to minimize fallout from possible internal irregularities.According to sources in the stock brokerage industry, agencies whose former high-ranking officials are moving to
May 16, 2011
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Forbes ranks Lotte Shopping as world’s 6th largest retailer
Lotte Shopping, Korea’s leading retail group, said Monday that it has been ranked the sixth-largest retailer worldwide by Forbes Magazine, joining the ranks of global top sellers.The Korean company runs chains of Lotte Department Store, Lotte Mart and Lotte Super. Tied with Chile’s Falabella, it ranked higher than U.S. giants such as Sears and Nordstrom and Japan’s Isetan Mitsukoshi.Forbes has bee
IndustryMay 16, 2011
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Regulator unveils support measures for new mobile service operators
The Korea Communications Commission unveiled support measures Monday for mobile virtual network operators so that they can release telecom services that are 20 percent cheaper than what is now available.The state telecom regulator said SK Telecom, the country’s top mobile carrier, will provide the MVNOs with mobile phones until June 2012.It also said SKT will also help the MVNOs, which plan to lau
IndustryMay 16, 2011
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