Most Popular
-
1
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
2
S. Korea, Singapore seal supply chain agreement
-
3
Korean language teaching expert says demand has outstripped supply
-
4
Korea added to key bond index
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
7
North Korea notifies UN Command of plans to fortify border with South
-
8
Taking away phones during school hours not a human rights violation: watchdog
-
9
Who is pollster roiling politics with claims of government string-pulling?
-
10
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
Uniqlo faces eviction in Myeong-dong
Uniqlo, a casual apparel designer and manufacturer based in Japan, is at risk of being evicted from its Myeong-dong location, the largest site yet for the company in Asia. The Seoul District Central Court recently ruled in favor of 14 plaintiffs who have ownership over the space of Uniqlo’s Korean operations run by Fast Retailing Korea. The judge said that the building managers were found to have rented out the building to Uniqlo without consulting or notifying the plaintiffs, and therefore, the
Feb. 5, 2013
-
Offshore projects and trust, DSME’s key to survival
OKPO, South Gyeongsang Province ― The Daewoo Shipbuilding and Marine Engineering’s Okpo shipyard here seemed alien to the persistent global economic stagnation.The 4.3-square-kilometer yard, symbolized by its landmark goliath 900-ton crane and the world’s largest shipbuilding dock, is buzzing with ongoing construction, varying from carrier ships to ocean production and storage units.“Despite the decrease in commercial ship orders, our docks are far from being inactive,” said Park Young-kwan, bus
Feb. 5, 2013
-
LG Chem focuses on premium products
LG Chem plans to focus on premium products rather than commodities for improved profit this year, its chief executive said on Tuesday.Park Jin-soo, chief executive officer of LG Chem, said that its Chinese rivals are not currently much of a threat in the petrochemical sector, though acknowledged that their self-sustainability levels are improving.“We believe China will see about an 8 percent growth in the sector,” he said during his first meeting with the press. “Self-sustainability is continuou
Feb. 5, 2013
-
S-Oil shares food with locals
S-Oil, Korea’s third-largest refiner, held a charity event, “Sharing Ddeokguk,” at Gwangya Church in Yeongdeungpo, southern Seoul, Tuesday.Some 100 employees, executives and volunteers, including S-Oil CEO Nasser Al-Mahasher, made Korean traditional rice cake soup, or ddeokguk, for 700 people, the company said.The company extended its goodwill to senior citizens living alone in single-room housing, the disabled and the homeless in the area.S-Oil also delivered New Year gift packages filled with
Feb. 5, 2013
-
POSCO announces TJ Park awardees
Korean steel giant POSCO on Tuesday announced three winners of the 2013 TJ Park Award through its charity arm TJ Park Foundation.Kim Eun-joon from the molecular neurobiology department at the Korea Advanced Institute of Scince and Technology was awarded in the science category. Yangeop High School founder Yoon Byung-hoon and Mindeulle Noodle House CEO Seo Yong-nam received an award in the education and the volunteering categories, respectively.The TJ Park Foundation, established in 1971 by the l
Feb. 5, 2013
-
Samsung plans $1.1b Silicon Valley push
Samsung Electronics on Tuesday announced in the U.S. plans to pour some $1.1 billion into buttressing its business platform in Silicon Valley, still considered the heart of global IT industries.The Samsung Ventures America Fund ― originally formed to facilitate Samsung’s global investment into venture companies ― will be providing $1 billion, while another $100 million will come from the Samsung Catalyst Fund. “We see tremendous opportunities and transformations over the next five years driven
Feb. 5, 2013
-
Big firms kept from opening bakeries
Companies over a certain size will be restricted from opening new bakeries or restaurants as part of government efforts to protect small- and medium-sized firms in those trades.A state-funded panel on Tuesday added 14 service trades including confectioneries and diners as well as manufacturing of plastic bags and buckwheat flour to the list of business categories suitable for only SMEs. “The regulations will apply to large confectioneries, or those with annual sales of over 20 billion won and mo
Feb. 5, 2013
-
SK Telecom net doubles in Q4
SK Telecom Co., the country's top mobile operator, on Tuesday reported a two-fold growth in its fourth-quarter profit from a year earlier due to a decrease in marketing costs.Net profit came to 519.1 billion won (US$477.5 million) in the October-December period, compared with a profit of 195.5 billion won a year earlier, SK Telecom said in a regulatory filing.Revenue rose 6 percent on-year to 4.2 trillion won, and operating profit jumped 37.6 percent to 544.6 billion won.The stronger bottom line
Feb. 5, 2013
-
NCsoft posts record earnings from flagship games
South Korean game giant NCsoft Corp. said Tuesday it posted a record quarterly profit in the fourth quarter of last year on the back of its flagship game Lineage and the successful launch of new games.Consolidated net profit reached 101.9 billion won ($93.7 million) in the October-December period, growing nearly six-fold from 17.1 billion won the previous year, NCsoft said in a regulatory filing.Revenue more than doubled to a record 283.4 billion won in the cited period, while operating profit s
Feb. 5, 2013
-
Samsung plans $1.1b Silicon Valley push
Samsung Electronics on Tuesday announced in the U.S. plans to pour some $1.1 billion into buttressing its business platform in Silicon Valley, still considered the heart of global IT industries.The Samsung Ventures America Fund ― originally formed to facilitate Samsung’s global investment into venture companies ― will be providing $1 billion, while another $100 million will come from the Samsung Catalyst Fund. “We see tremendous opportunities and transformations over the next five years driven b
Feb. 5, 2013
-
Samsung, LG agree to settle patent row through dialogue
The heads of the world's biggest display makers, Samsung Display Co. and LG Display Co., agreed Monday to resolve their patent dispute through dialogue in an effort to stem the legal tussle from escalating.The two companies, affiliates of the country's biggest electronics firms Samsung Electronics Co. and LG Electronics Inc., have been embroiled in a patent suit over display technology as they race to bolster market leadership.Samsung Display and LG Display are currently involved in four litigat
Feb. 4, 2013
-
Asiana IDT wins $230m ICT deal in Malaysia
Kumho Asiana Group said Monday its affiliate Asiana IDT, a software developer, won a 250 billion won ($230 million) deal to provide information and communication systems to a large-scale resort project in Malaysia. The Mersing Laguna Resort project aims to create a seaside multiplex park with a luxury resort, a shopping center and other recreational facilities on an 800-square-kilometer site on the east coast of Malaysia by December 2017. Asiana IDT, which recently set up a local venture in Kual
Feb. 4, 2013
-
17 fewer firms on FTC watch list
SEJONG (Yonhap News) ― South Korea’s antitrust watchdog said Monday that the number of companies subject to restrictions on mutual investments and loan guarantees declined by 17 in February from a month earlier.The Fair Trade Commission said the number of corporate affiliates on its watch list stood at 1,774 as of early February, down from 1,791 tallied in the previous month.Sixteen companies were newly added to the list, while 33 affiliates were taken off over the past month, the FTC said.The e
Feb. 4, 2013
-
Banks’ bad loan ratio slips in 2012
The ratio of bad loans at South Korean banks fell in 2012 from a year earlier as they stepped up efforts to write off problem loans around the end of the year, the financial regulator said Monday. The ratio of non-performing loans held by 18 local banks came to 1.32 percent as of the end of December last year, down 0.04 percentage point from the 1.36 percent tallied at the end of 2011, according to the Financial Supervisory Service. The bad loan ratio had been on a downtrend since 2010, when the
Feb. 4, 2013
-
Doosan injects funds to construction arm
Doosan Group, the nation’s 12th-largest conglomerate by assets, said Monday it would inject a paid-in capital increase to its construction arm Doosan Engineering & Construction, which is facing a liquidity crisis. Industry watchers said the group’s move will help Doosan E&C secure up to 1 trillion won ($918 million) by issuing new shares to major shareholders under the Doosan Group umbrella.The group’s Doosan Heavy Industries holds 72.74 percent of Doosan E&C’s shares, while Doosan E&C honorary
Feb. 4, 2013
-
Carmakers see EU exports worsen amid eurozone woes
Korea’s five carmakers ― Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and Ssangyong Motor ― saw their exports to the European Union worsen last year, with falling car sales across Europe showing no sign of recovery.According to industry data on Monday, the nation’s car exports to EU countries decreased 6.5 percent to 388,223 vehicles last year from 426,057 units in 2011In 2011, the first year when the free trade pact between Korea and the EU went into effect, Korea’s car exports t
Feb. 4, 2013
-
Mobile games exempt from ‘Cinderella Law’
People will be able to enjoy games on their handsets at any time of the day as the government decided not to include mobile games on the list of those prohibited from play from midnight to 6 a.m.The Ministry of Culture, Sports and Tourism and the Ministry of Gender Equality and Family announced Monday that they would exempt mobile games from applying the online game curfew.According to the notification, online games for personal computers, Web-based games and PC package games are currently subje
Feb. 4, 2013
-
[Newsmaker] Cracks found in Lotte’s 123-story building
Lotte Engineering and Construction has yet to promptly address cracks in the 123-story edifice that the company is constructing in its new theme park in Seoul.Up to 11 cracks were discovered in the main pillar of the building -- known as the “mega column,” the main supporting piece of high-rises -- according to its construction supervisor, Hanmi Global.Despite Hanmi Global notifying Lotte about it in October, it has yet to address the problem. Hanmi says while the cracks are not critical as of y
Feb. 4, 2013
-
Asiana Airlines asked to allow female crew to put on pants
The National Human Rights Commission of Korea on Monday recommended Asiana Airlines allow female flight attendants to choose between skirts and trousers.In addition, a local public transport union submitted a petition against the airline in June 2012, saying that it was gender discrimination to ban female flight attendants from wearing pants. Regarding the petition, the NHRC concluded that banning female attendants from wearing pants is an act of discrimination since it restricts the choice of u
Feb. 4, 2013
-
SK Group chairman urges unwavering support after Chey’s imprisonment
Kim Chang-geun, chairman of SK Group’s decision-making body Supex, asked for support from employees in an online message delivered after former chairman Chey Tae-won received a four-year jail sentence for embezzlement on Thursday. “All of you may have been surprised with the unexpected result,” wrote the former vice chairman of SK Chemical who replaced Chey in December. “Despite external difficulties, we will continue fulfilling our duty for all stake holder groups, including our customers. Each
Feb. 3, 2013