Kim Dae-hoon, CEO of LG CNS, a Korean IT services provider, urged his executives and employees to zero in on expanding overseas by aggressively bidding for and securing projects this year.Some 600 executives, team managers and employees from headquarters and overseas offices of Korea’s biggest system integrator gathered in Seoul last Friday with CEO Kim, who asked them to accelerate their global efforts and achieve success.“Let us make new history this year,” Kim told his employees.He added that

Technology Jan. 12, 2014

Kim Yoon-jeong makes her son study with his teacher who visits her home from a language institution for one-on-one tutoring once a week, and allocates an hour every other day of the week to studying the language online.This is “the least” she says she can do for her son, when compared with other fourth-graders whose parents commonly send them to institutions or have them study at home with a tutor every day.Anything more than once-a-week home tutoring would cost extra and would be further burden

Industry Jan. 8, 2014

International schools have long been favored by the nation’s affluent students as an alternative to studying overseas and as a means to enter top U.S. colleges.International schools in Korea were originally set up to educate the children of foreign employees or Korean students who had studied overseas due to their parents’ jobs. Thus, the applicants must have foreign nationality or have lived overseas for at least three years. Annual tuition fees are generally more than 20 million won ($19,000)

Industry Jan. 8, 2014

The success of Kakao Talk, the most used mobile instant messaging service in Korea, has brought forth fast imitators as well as new players offering their own set of features for tech-savvy consumers.As Kakao Talk and Internet giant Naver’s Line grabbed a large share of the mass market, there has been no room for others to squeeze in and steal their thunder. A number of followers including Joyn, created by the country’s three telecom operators, have quickly lost their potential.Madsmart’s Tic To

Technology Jan. 8, 2014

LAS VEGAS ― Samsung Electronics and LG Electronics, the world’s top two TV makers, heralded the dawn of a truly flexible TV era as they unveiled the world’s first bendable television displays at the 2014 International CES in Las Vegas on Monday.Samsung’s bendable TV, featuring an 85-inch display that can curve simply with the use of a remote control, took the center stage of its press conference held at the Mandalay Bay Convention Center, a venue for the CES. The company expects the bendable TV

Technology Jan. 7, 2014

The Korean stock market closed bearish on the first trading day of the year, with major blue chips performing poorly as investors shifted to net-selling mode due to a bleak earnings outlook for Korean exporters, analysts said.The won-dollar exchange also fell below the 1,050 won threshold in Thursday trading to 1,048.3 won, the lowest since Aug. 2, 2011. The KOSPI also slid below the 1,970 mark during intraday trading.The benchmark KOSPI closed at 1,967.19, down 2.2 percent, while the won-dollar

Jan. 2, 2014

Korea’s Fair Trade Commission has tentatively approved self-corrective measures drawn up by the country’s two largest Internet portal operators, according to the antitrust agency Wednesday. Naver and Daum, which had been accused of abusing their power and hindering fair market competition, will commit about 104 billion won ($98 million) to supporting small businesses and promoting consumer protection.Naver proposed that it would spend and invest 100 billion won, while Daum planned to spend 4 bil

Industry Jan. 1, 2014

South Korea and China agreed to expand bilateral investments and jointly counter any negative effects of the U.S. exit from quantitative easing, the Ministry of Strategy and Finance said Monday.In a meeting between economic chiefs of the two countries in Seoul on Monday, Korea’s Deputy Prime Minister and Finance Minister Hyun Oh-seok and China’s National Development and Reform Commission chairman Xu Shaoshi agreed to build the so-called China Valley in Saemangeum.The Valley in the reclaimed area

Dec. 30, 2013

  In a year when Korea’s first female president took the helm, the appointment of female executives has also gained momentum, apparently ushering in a new era for the country’s conservative, male-dominated work culture.Citing the new appointees’ exceptional skills and lucrative experience in communication, risk management, sales and other business operations, state-run and private financial companies alike have been breaking the glass ceiling.Quasi-sovereign institutions such as the Bank of Kore

Dec. 29, 2013

The Export-Import Bank of Korea said Tuesday that it held a ceremony honoring its first group of student volunteers from local universities for completing their seven-month services for multicultural families, North Korean defectors and the socially disadvantaged.Korea Eximbank chairman and CEO Kim Yong-hwan congratulated the volunteers for their contributions to society as he welcomed them and handed out awards.“We sincerely welcome everyone who has achieved more than the expected in social con

Dec. 25, 2013