Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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OpenAI in talks with Samsung to power AI features, report says
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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Two jailed for forcing disabled teens into prostitution
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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S. Korea not to attend Sado mine memorial: foreign ministry
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South Korean military plans to launch new division for future warfare
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Kia EV9 GT marks world debut at LA Motor Show
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Tycoons outline New Year plans
Samsung chairman pledges investment, mutual growthSamsung Electronics chairman Lee Kun-hee reiterated his commitment to aggressive investment and mutual growth with suppliers in his New Year address Monday. Lee Kun-heeIn a speech at a ceremony with about 1,200 executives in Seoul, Lee emphasized the importance of future growth engine businesses. “Ten years from now will be the challenge per
IndustryJan. 4, 2011
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Samsung's 2011 investment likely to top 30 tln won
Samsung Electronics Co., the world's top computer memory maker, will likely spend more than 30 trillion won ($26.67 billion) in investment this year, industry sources said Tuesday. The forecast came a day after company chairman Lee Kun-hee said that the company's investment for this year will be larger and bigger than last year's. The company earmarked 26 trillion won(US$23 billion) for investm
IndustryJan. 4, 2011
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S. Korea's foreign reserves rebound in Dec.
South Korea's foreign exchange reserves rebounded in December from the previous month as a weaker U.S. dollar boosted the conversion value of assets in other currencies, the central bank said Tuesday. The country's foreign reserves reached US$291.57 billion as of the end of December, up $1.34 billion from the previous month, according to the Bank of Korea (BOK). The foreign reserves expanded b
Jan. 4, 2011
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Seoul shares open higher on U.S. gains
South Korean stocks began higher on Tuesday as overnight rallies on Wall Street boosted investor sentiment, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.77 points, or 0.18 percent, to 2,073.85 in the first 15 minutes of trading. Shipbuilders led the climb with market leader Hyundai Heavy Industries jumping more than 3 percent and its smaller rival Daewoo Shipbu
Jan. 4, 2011
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Broadcasting regulator under fire
KCC accused of expedience in awarding cable TV licensesThe government has come under fire for its recent selection of new TV channel operators. Critics say it will cause excessive competition in a saturated market and aggravate large conservative newspapers’ dominance of public opinion.Experts are also voicing doubt about the selection committee’s fairness and correctness in assessing applicants.T
Jan. 3, 2011
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Seoul shares rally to record high
Korean stocks rose 0.93 percent to a record high on Monday as foreigners and institutions snapped up shares on expectations for a rally at the start of the year, analysts said. The local currency gained against the U.S. dollar.On the first trading session, the benchmark KOSPI surged 19.08 points to 2,070.08, renewing its previous record close of 2,064.85 on Oct. 31, 2007. Trading volume was modera
Jan. 3, 2011
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Double investment ban victimizes TV applicant
Panel applies impractical rule too strictly in selecting new cable television operators The recent selection of successful applicants for general and news programming television licenses resulted from the application of ambiguous criteria which may be viewed as illegal. The ignorance over a criterion which restricts double investment by a stakeholder of an applicant in another applicant has led to
IndustryJan. 3, 2011
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Samsung sold 10m Galaxy S phones globally
Samsung Electronics has sold more than 10 million units of its Galaxy S smartphone worldwide since its debut in June, the company said Monday.Four million were sold in North America, 2.5 million in Europe and 2.2 million in Korea.The figure is nearly twice the number of smartphones it sold in 2009. The world’s second-largest handset maker said the Galaxy S’ popularity is growing at a fast pace. It
IndustryJan. 3, 2011
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Airline fuel surcharges may decline
The government is planning to reduce fuel surcharges on international flights this year due to a drop in international crude oil prices, the Ministry of Land, Transport and Maritime Affairs said Monday. The ministry said it will reform the current fuel surcharging system, categorized only in terms of long-distance and short-distance flights. It plans to specify classifications according to flight
IndustryJan. 3, 2011
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New chief regulator sets hardline stance
Kim Seok-dong, new chief of the Financial Services Commission, said Monday that the financial regulator will actively intervene in the market if necessary for stability.“To secure order and stabilize the market, the authority will take stern measures. On the other hand, the authority will guarantee sufficient autonomy for the sake of reform and development of the market,” he told reporters after t
Jan. 3, 2011
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Lee to focus on inflation, job creation...
President Lee Myung-bak said Monday that his economic policies will focus on strong economic growth, job creation and a firmer middle class. “This year, our goals in running the economy are: a high economic growth rate of over 5 percent, inflation of under 3 percent, the creation of good jobs and improvement in quality of life of middle- and low-income families,” Lee said in his New Year’s address
Jan. 3, 2011
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Korea expands animal vaccinations to stem foot-and-mouth spread
Korea decided Monday to greatly expand animal vaccinations to stem outbreaks of foot-and-mouth disease, which continues to spread throughout the country despite nationwide quarantine efforts, the government said.Farm Minister Yoo Jeong-bok said in a news briefing that shots will be administered to all animals in Gyeonggi Province surrounding Seoul and large parts of Chungcheong in the country’s ce
Jan. 3, 2011
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Hyundai Heavy gives 5 billion won to charity
Hyundai Heavy Industries donated 5 billion won ($4.4 million) to the Community Chest of Korea on Monday.“I hope that the donation can in a small way help in giving hope and courage to those who are experiencing financial difficulties,” Hyundai Heavy Industries president and chief executive Lee Jai-seong said. Lee Jai-seongMonday’s donation is the latest in a series of corporate social responsibili
IndustryJan. 3, 2011
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Vizio to challenge Apple with cheaper smartphone, tablet
Vizio Inc., the second-largest U.S. television supplier, will introduce a low-cost smartphone and tablet computer using Google Inc.’s Android software to attract consumers who cannot afford Apple Inc.’s devices. The smartphone with a 4-inch screen and tablet with an 8- inch display will be unveiled at the Consumer Electronics Show in Las Vegas, which begins Jan. 6, Chief Technology Officer Matthew
IndustryJan. 3, 2011
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VW extends CEO’s contract until 2016
Volkswagen AG extended Chief Executive Officer Martin Winterkorn’s contract by five years, giving the executive the time to complete a merger with Porsche SE and surpass Toyota Motor Corp. as the biggest automaker. VW’s supervisory board unanimously backed the CEO’s appointment through 2016, the Wolfsburg, Germany-based company said Sunday. Winterkorn, 63, took over as CEO on Jan. 1, 2007 and his
IndustryJan. 3, 2011
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Samsung ships more than 10 mln Galaxy S phones in 7 months
Samsung Electronics Co., the world's second-largest cell phone maker, said Monday that it has delivered more than 10 million Galaxy S phones to global mobile operators in about seven months of its debut. Samsung sold 4 million Galaxy S phones in North America, 2.5 million in Europe and 2 million on its home turf, South Korea, the company said in a statement. Samsung Galaxy S smartphone (Yonh
TechnologyJan. 3, 2011
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Seoul shares open higher on tech gains
South Korean stocks got off to a strong start on Monday in the first trading of the year, buoyed by gains in technology shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.9 points, or 0.29 percent, to 2,056.9 in the first 15 minutes of trading. Tech issues led the climb with chip giant Hynix Semiconductor adding nearly 4 percent. Financial shares also len
Jan. 3, 2011
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Stocks outdo real estate in 2010
Stocks and equity funds were the most profitable investments in 2010 with the domestic securities market emerging strongly from the financial crisis, industry data showed.Investors in real estate, however, suffered from lackluster yields as the property market remained sluggish despite government stimulus. The benchmark KOSPI rose by 21 percent throughout 2010 to reach 2,051 points on Thursday, th
Jan. 2, 2011
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New FSC chief likely to accelerate M&As
Three new policymakers join Lee's economic teamThe stalled consolidation of the financial industry is likely to gain momentum this year under new top regulator Kim Seok-dong, renowned for drive and problem-solving ability. President Lee Myung-bak on Friday named Kim, 57, chairman of the Financial Services Commission. He will take office on Monday. As a former director general and vice chairman of
Jan. 2, 2011
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Corporate leaders stress innovation, growth for 2011
By Choi He-suk Korea’s top companies are bracing for the New Year challenges of both consolidating their market leadership and developing new growth businesses.Innovation, quality, future growth, core capabilities and human resources are keywords in the New Year’s messages of leading companies as they put out strategies to tackle global uncertainties, a slowing overseas demand and tougher challeng
IndustryJan. 2, 2011
