Seven conglomerates including Samsung Group, Hyundai Motors Group, and SK Group signed up to participate in the 2012 World Expo in Yeosu, its organizing committee said.Other participating business groups include LG, Lotte, Posco and GS. The fact that leading local conglomerates decided to participate in the Yeosu Expo shows that expectations for the event are very high, organizers said. The expo i

Industry Jan. 10, 2011

South Korea with Africa should forge a win-win cooperation model where they maximize the use of Africa’s abundant resources and Korea’s technology and development experience, a senior government official said Friday. “Korea needs to start seeing Africa as a major emerging market for the country to achieve an annual trade volume of $1 trillion,” Second Vice Minister of Knowledge Economy Park Young-

Jan. 7, 2011

Five-year plan seeks to meet increased demand for international flightsThe government is to invest 2.1 trillion won ($1.8 billion) to upgrade airport facilities over the next five years, the Ministry of Land, Transportation and Maritime Affairs said Tuesday. The plan includes further expanding Incheon International Airport to help cope with rising flight demand and consolidate its status as a Nort

Jan. 4, 2011

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

Industry Jan. 3, 2011

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