Articles by Kim Yon-se
Kim Yon-se
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Kia Motors poised to export K9
Destinations include Middle East, China and Southeast AsiaKia Motors is considering exporting the K9 sedan in the coming months, having sold the premium sedan exclusively in the local market until now.The automaker’s first export destinations will likely be the Middle East, China and Southeast Asian countries, according to company executives. The K9 will be dubbed the Quoris in overseas market.“After targeting the Asian market later this year and early next year, we will fine-tune the timing of
Industry Sept. 19, 2012
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NPS’ stake in top firms hits record high
Pension fund’s stake in 10 largest groups surpasses 4 percentThe National Pension Service saw its average stake in 10 major business groups’ subsidiaries, listed on the stock market, come to an all-time high of more than 4 percent.The pension fund, as a result, is expected to exercise its shareholder right in the conglomerate sector more actively, stock research analysts predicted.According to Chaebul.com, a conglomerate-tracking website, the average stake held by the NPS in 93 companies of the
Industry Sept. 19, 2012
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FTC launches consumers’ assessment program
The Fair Trade Commission launched on Monday its first-ever survey program, which entitles consumers to directly assess product quality based on their user experiences.This marks the first time that a government agency, rather than civic organizations, will provide the sort of consumers’ product-evaluation reports in Korea.Its first target is the sport utility vehicle sector of local and foreign carmakers such as Hyundai Motor, Renault Samsung Motors, BMW and Mercedes-Benz.The state-run online p
Industry Sept. 18, 2012
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Shares end 0.26 pct lower on profit-taking
South Korean stocks fell 0.26 percent on Monday as investors took profits from recent gains powered by the U.S. bond-buying program, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index declined 5.23 points to 2,002.35, the first loss in four sessions.Trading volume was heavy at 871.3 billion shares worth 6.5 trillion won ($5.83 billion). But gainers outnumbered losers 458 to 359.“Investors took a breather after the previous session‘s ral
Sept. 17, 2012
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FTC chairman warns big firms on irregularities
Antitrust regulator poised to take stern action over unfair practices against suppliersThe nation’s top antitrust regulator said on Monday that it will weed out irregularities at large companies.The Fair Trade Commission said the warning will be given to business leaders when FTC chairman Kim Dong-soo meets them on Tuesday. “The meeting between FTC chairman Kim and the chief executives is designed to prevent big firms from bullying subcontractors,” the FTC said in a statement.Participants will l
Industry Sept. 17, 2012
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Stocks expected to continue upward move this week
South Korean stocks are expected to keep their upward momentum this week on improved investor sentiment following recently-unveiled stimulus measures by the U.S. Federal Reserve, analysts said Saturday.The country’s key stock index, the KOSPI, jumped 4.04 percent, or 78 points, last week to close at a five-month high of 2,007.58 on Friday.On Friday alone, the index rallied 2.92 percent as investors cheered the Fed’s decision to purchase mortgage bonds as long as it needs and keep interest rates
Sept. 16, 2012
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Chinese leader visits Kia Motors plant
Kia Motors is gaining stronger confidence from senior public officials in China as it has successfully carried out localization strategies in its operation of automobile manufacturing plants in the country.The carmaker said that China’s top political adviser Jia Qinglin visited a Kia factory, dubbed Dongfeng Yueda Kia, in Yancheng District Economic Development Zone in Jiangsu Province over the weekend.Jia, one of the top four Chinese leaders, along with Hu Jintao, Wu Bangguo and Wen Jiabao, hold
Industry Sept. 16, 2012
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GS chief instructs staff to adapt to latest trends
GS Group chairman Huh Chang-soo called on his staff to build up a robust management structure by swiftly adapting to the latest trends.“If GS really wants to take the initiative in successfully coping with changes in the market, it should profoundly assess customer needs,” he told subsidiary CEOs at a future strategy meeting over the weekend.New concepts and ideas, based on these research activities, will guarantee a basis of firmly rooted management, he stressed.Over the past few years, the GS
Industry Sept. 16, 2012
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FSS to probe firms that have frequent customer complaints
Financial companies which drew a relatively high number of complaints from customers will be subject to full-fledged investigations by regulators.The Financial Supervisory Service said Thursday that it has decided to conduct a large-scale probe into the overall sector including banks, brokerages, credit card firms, insurance firms and savings banks.This will mark the first time that the FSS will probe the overall financial sector simultaneously in terms of customer complaints over each company,
Sept. 13, 2012
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Shares close 1.56 percent up on U.S. optimism
Korean stocks jumped 1.56 percent Wednesday as investors scooped up local shares on hopes for U.S. stimulus measures and eased eurozone woes, analysts said. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 30.03 points to 1,950.03, snapping a two-session losing streak.Trading volume was heavy at 693.3 million shares worth 5.17 trillion won ($4.59 billion), with gainers far outstripping losers 541 to 278.“Led by optimism about a possible U.
Sept. 12, 2012
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Baby boomers account for 44 percent of small business bankruptcies
A growing number of the baby boomer generation, which refers to people born between 1955 and 1963 in Korea, is suffering bankruptcy of their small businesses, a financial data provider showed.According to the Korea Financial Telecommunications & Clearings Institute, the total number of micro-business owners with dishonored bills came to 237 for the first eight months of the year.The data showed that 104 individuals, or 44 percent, were baby boomers.This means the proportion of baby boomers out o
Industry Sept. 11, 2012
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Samsung goes past Apple in U.S. consumer preferences
Samsung Electronics recently overtook Apple in consumer preferences in the United States, regardless of the recent U.S. jury verdict in favor of Apple in the patent lawsuit between the two companies.According to a survey conducted by YouGov and Early Adopter on 5,000 consumers aged between 18 and 34, preference for Samsung Electronics has rapidly increased to surpass that for Apple over the past two weeks.Over a series of polls by the agencies, the survey showed that Samsung won 45 points on ave
Industry Sept. 11, 2012
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Shares edge lower on investor wariness
South Korean stocks closed 0.24 percent lower Tuesday as investors became wary ahead of key events at home and abroad, analysts said. The local currency declined against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 4.7 points to 1,920. Trading volume was heavy at 703.2 million shares worth 4.25 trillion won ($3.77 billion), with losers outpacing winners 457 to 339.“Investors sat on the sidelines to see what policymakers will decide regarding economy-boosting plans later t
Industry Sept. 11, 2012
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Hyundai’s hydrogen cars gain popularity in Europe
Hyundai Motor’s futuristic technology in the hydrogen fuel cell vehicle sector has highly been acknowledged in more and more European countries.Following its recent advancement into Scandinavian countries, Hyundai Motor has been picked as a business partner for German environmental organizations’ hydrogen automobile project.As the initial supply for the project, the Korean carmaker is poised to provide the country with dozens of the hydrogen fuel cell Tucson ix, a sport utility vehicle, in the c
Industry Sept. 10, 2012
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Lexus August sales rise 34%, push past Mercedes, BMW
Toyota Motor Corp.’s Lexus, which lost its crown as the top-selling luxury auto brand in the U.S. last year, boosted sales 34 percent last month to move past Daimler AG’s Mercedes-Benz and Bayerische Motoren Werke AG.It’s the first time the Japanese luxury brand beat both of its German competitors to be No. 1 in monthly sales since December 2010 before inventory was hurt by last year’s natural disasters in Asia. Lexus sold 24,237 vehicles in August, the Toyota City, Japan-based company said in a
Mobility Sept. 9, 2012
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