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Prosecution raids KB over IT misconduct

Prosecutors on Tuesday raided KB Kookmin Bank’s computer center in Seoul over alleged irregularities in the bank’s introduction of a new computing system, according to KB officials Tuesday.Investiga...

Updated : 2014.09.16 21:37

[Graphic News] Hyundai, Kia came in third in global sales

Hyundai Motor and Kia Motors, the nation’s two largest auto companies, came in third among car manufacturers worldwide in reliance on global sales, according to Japanese automobile research firm Four...

Updated : 2014.09.16 21:35

KEPCO to wrap up bidding for main office property

South Korea’s state-run power provider Korea Electric Power Corp. said Tuesday that it will wrap up the bidding process for its main office property in southern Seoul this week and announce the new owner of the prime piece of real estate estimated to be worth over 3.33 trillion won ($3.22...

Updated : 2014.09.16 21:27

LG to roll out its first flip-style smartphone

LG Electronics, South Korea’s No. 2 maker of handsets, provided a teaser Tuesday of what looks to be its first flip-style smartphone. LG’s website showed a dim image of a flip-style handset dubbed the “LG Wine Smart.” If released, the Wine lineup will become the oldest existing handset...

Updated : 2014.09.16 21:27

Samsung chairman loses W1tr on sickbed

Samsung Group’s de-facto head Lee Kun-hee, who has been hospitalized due to a heart attack since May, saw the value of his share holdings in the conglomerate plunge 7.19 percent from four months earlier, data showed Tuesday, with the decline led by Samsung Electronics’ lackluster perform...

Updated : 2014.09.16 21:27

Galleria signs partnership deal with N.Y.’s Bergdorf Goodman

The Galleria, one of the poshest department stores in southern Seoul, signed a partnership agreement with the New York-based store Bergdorf Goodman on Monday, in an attempt to attract more foreign cus...

Updated : 2014.09.16 21:27

Conglomerate hiring to remain steady in 2014

Many South Korean conglomerates will likely add the same number of employees or boost their hiring slightly in 2014 compared to the year before, a poll carried out by the lobbying group of large businesses showed Tuesday. According to the Federation of Korean Industries survey carried out ...

Updated : 2014.09.16 21:27

Economic slowdown caused by complex structural problems

South Korea’s current economic slowdown is not a “temporary” phenomenon affected by cyclical factors but by complicated structural problems, the finance minister said Tuesday, worrying that the eco...

Updated : 2014.09.16 21:22

OB to invest W120b on quality improvement

South Korea’s top beer manufacturer Oriental Brewery said it would make product quality its top priority and invest 120 billion won ($115.8 million) to improve its quality control process.It also off...

Updated : 2014.09.16 21:20

Korea to establish pilot vehicle energy-saving system

The South Korean government is planning to adopt a pilot system called Vehicle-to-Grid, allowing plug-in electric vehicle owners to sell electricity saved in their car batteries to Korea Electric Powe...

Updated : 2014.09.16 21:19

BOK governor cautions against weakening yen

The chief of South Korea’s central bank on Tuesday raised worries that a weakening yen may hurt local exporters, reiterating the currency issue that he addressed earlier this month.BOK Gov. Lee Ju-ye...

Updated : 2014.09.16 21:19

Q3 corporate earnings outlook slashed

South Korean companies are expected to report weaker-than-expected earnings for the third quarter as Samsung Electronics, which wields enormous sway over the country’s overall corporate earnings chart, is likely to suffer another earnings shock and low oil prices hurt local refiners’ bot...

Updated : 2014.09.16 21:18

S. Korea's economic slowdown caused by complex, structural problems: minister

South Korea's current economic slowdown is not a "temporary" phenomenon affected by cyclical factors but by more complicated and structural problems, the finance minister said Tuesday, worrying that the economy might take the road of Japan's lost decades "if not responding in a timely mann...

Updated : 2014.09.16 13:30

Prosecutors raid Kookmin Bank over computer system change

Prosecutors searched the computer center of South Korea's No. 2 lender Kookmin Bank on Tuesday as part of a probe into suspicions surrounding the bank's introduction of a new computer system, prosecution sources said.During the raid on the computer center in western Seoul, prosecution inve...

Updated : 2014.09.16 10:53

KB board pressures chairman to quit

KB Financial Group’s board on Monday urged its chairman Lim Young-rok to voluntarily resign following the financial regulator’s decision to suspend the KB chief last week.During a two-hour board mee...

Updated : 2014.09.15 21:07