Articles by 김주연
김주연
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10 more savings banks to face probe
Watchdog likely to suspend around three more savings banksFinancial regulators plan to launch fresh investigations into 10 more savings banks that survived the probe earlier this year, brewing another round of major upheaval in the country’s scandal-ridden secondary banking sector.A taskforce of auditors from three state agencies ― Financial Supervisory Service, Financial Services Commission and K
May 29, 2011
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No inter-Korean talks without N. Korea's apology: minister
South Korea has no intention of sacrificing its "principle" for an apology fromNorth Korea for last year's deadly attacks for the sake of the resumption of inter-Korean dialogue, Seoul's point man on cross-border affairs said Saturday. Tensions persist on the Korean Peninsula after North Korea continues to ignore the South's demand for an apology for two deadly military attacks -- the March 2010
North Korea May 28, 2011
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U.S. envoy leaves N. Korea after winning release of American citizen
A U.S. government team led by Robert King left North Korea on Saturday, the North's state media said, after winning the release of an American citizen detained in the reclusive state for the past six months. King, the U.S. special envoy for North Korean human rights, left North Korea "by air after visiting the DPRK (North Korea) to consult humanitarian issues between the DPRK and the U.S.," the
North Korea May 28, 2011
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Oil refineries fined W435b for collusion
The Fair Trade Commission said Thursday that it imposed 434.8 billion won ($402.5 million) in fines on four major oil refineries for anticompetitive practices and referred three of them ― SK Energy, Hyundai Oilbank, and GS Caltex ― to prosecutors for investigation. The corporate watchdog said it found evidence of the four colluding to prevent oil supplies to gas stations held by their competitors,
Industry May 26, 2011
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Korea Post vows to raise efficiency
Korea Post said it will upgrade its postal and banking services to prepare for market consolidations with the coming of more free trade pacts.Delivering a two-year plan, its president Kim Myong-ryong stressed the importance of providing better services as a state-run agency connecting supply chains and circulating money across the country. Korea Post chief Kim Myong-ryong delivers a two-year plan
May 26, 2011
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Finance chief-nominee to prioritize inflation fight
Finance minister nominee Bahk Jae-wan said the fight against inflation will stay as the priority with focus on flexible macroeconomic measures, revealing his intention to maintain the policy stance currently in place.Answering questions at the parliamentary confirmation hearing on Wednesday, Bahk said he will try to make people in the middle class and low-income brackets feel the improving busines
May 25, 2011
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Government mulls tariffs on rice imports
The government is mulling tariffs on rice imports from next year, possibly expediting the process previously scheduled for 2015, the Agricultural Ministry said Tuesday.The early imposition of tariffs on rice imports is to reduce growing stockpiles of rice, a problem that has been deepening under the current system where Seoul has to import a specified amount of foreign rice. The Ministry of Food,
Industry May 24, 2011
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Hwang first Asian to head global securities lobby group
KOFIA chairman becomes head of International Council of Securities AssociationHwang Kun-ho, chairman of the Korea Financial Investment Association, was elected to head the International Council of Securities Association, the local body announced Tuesday.Hwang became the first Asian chief of the international body of practitioners promoting the common interest of securities companies worldwide.“I h
May 24, 2011
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Rising utility bills, food costs fan inflation fears
The government is considering raising public utility prices in the coming months to correct the growing deficit by major public corporations plagued by rising raw material and production costs.Burdened by rising prices in grain, sugar, corn and wheat, food makers are also expected to raise the prices of processed foods in the second half. Seoul is mulling raising subway fares by 300 to 400 won aft
May 23, 2011
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N. Korean leader arrives in Yangzhou in eastern China
A special train carrying North Korean leader Kim Jong-il arrived in Yangzhou in eastern China for a visit that a top Beijing official said is aimed at helpingPyongyang learn about Chinese economic development. Kim arrived at Yangzhou Station in Jiangsu Province at 7:54 p.m. on the third day of his secretive Chinese visit after departing from Changchun in northeastern China on Saturday. Contrar
National May 22, 2011
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Volvo Cars back in black for full-year 2010
China-owned Volvo Cars on Thursday said it was back in the black in 2010 following an 11.6 percent rise in sales over the previous year.“During 2010, we witnessed a turn-around in the car market and we have now returned to profitability,” chief executive Stefan Jacoby said in a statement.Volvo Cars said its operating EBIT (earnings before interest and taxes) was $361 million.It added it sold about
Mobility May 22, 2011
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Audi Korea launches app for iPad
Audi Korea, the local importer of luxury German car brand Audi, said it launched an iPad application for customers to view Audi magazine. The free application allows iPad users to keep up with the latest news about the German cars and promotional offers.Audi magazine, sent to its customers on a quarterly basis, not only covers Audi products but also contains exclusive interviews with sports stars
Mobility May 22, 2011
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Jaguar Land Rover offers wedding cars
Jaguar Land Rover said it is offering wedding cars for couples who have their marriage ceremony at the Shilla Hotel in Seoul. An all new XJ, the British carmaker’s flagship model, will be offered to Shilla customers on their way to their honeymoon, the company said.“Young couples nowadays are looking for unique wedding experiences and their taste for wedding cars has been changing fast too. We hop
Mobility May 22, 2011
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BMW offers discount on repairs
The local unit of German carmaker BMW Group said it will offer a 20 percent discount on repairs for its older sedans and convertibles, including the M3, X3, Z3 and Z4.The “refresh” campaign will be available for BMW customers whose cars have been registered before April 30, 2006. The offer will be available until June 3 at the company’s official service centers across the country. BMW Korea launch
Mobility May 22, 2011
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Renault targets 100,000 car sales in return to India
Renault SA aims to sell 100,000 cars a year in India by the end of 2013, as the French automaker introduces its first model in the Asian country since exiting a joint venture with Mahindra & Mahindra Ltd. last year.The carmaker will introduce the Fluence sedan May 23 in New Delhi and plans to sell as many as five models by December 2012, when it expects to have 100 dealers across the country, Marc
Mobility May 22, 2011
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