Seoul to celebrate homegrown design

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[SUPER RICH] Kohler eyes affluent Koreans

BUSAN ― Kohler, a U.S. supplier of high-end plumbing products, is hoping to see a 300 percent sales growth in the South Korean market next year, said Kohler Novita executive Choi Jae-kwan. “Designer...

Updated : 2014.11.24 21:23

[SUPER RICH] Samseong-dong makes quantum leap

While Cheongdam-dong became famous for being a home to the superrich, Samseong-dong has gained a reputation as the premium office area for the nation’s leading companies. Firms preferring neighborhoo...

Updated : 2014.11.24 21:20

S-Oil grants awards to five Korean scientists

The S-Oil Science Prodigy and Culture Foundation, a nonprofit foundation established by S-Oil, conferred Monday “Dissertation of the Year Awards” to five Korean scientists to support their academic ...

Updated : 2014.11.24 21:13

Inconsistent energy policies give out mixed signals

As a country lacking in natural resources, energy security has been always one of the top agendas of every government in Korea. The problem is the lack of consistency in the nation’s energy policy th...

Updated : 2014.11.24 21:12

Hyosung to create carbon fiber R&D cluster

Hyosung Group said Monday that it would create a research and development cluster for carbon fiber, a highstrength, low-weight material, in partnership with North Jeolla Province.Through the new R&D c...

Updated : 2014.11.24 21:12

LS Group redoubles R&D efforts

LS Group chairman Christopher Koo (right) talks with the group’s CEO Lee Kwang-woo (center) and a participant of LS Partnership Day which was held in April at Silicon Valley in the U.S. (LS Group)LS ...

Updated : 2014.11.24 21:10

Fair Trade Commission to provide price information on IKEA

Korea’s corporate watchdog said Monday that it will provide detailed price information by February for IKEA products whose local prices became controversial for being more expensive than in other countries. “We plan to commission a consumer group to review prices (of IKEA products) for c...

Updated : 2014.11.24 21:09

Half of top 100 companies report lower profit this year

Over half of the top 100 South Korean companies saw their operating profit fall in the first nine months of this year as major exporters grappled with global economic slowdown and tougher competition in major markets, data showed Monday. The combined revenue of 100 companies listed on the ...

Updated : 2014.11.24 21:09

Public investor regrets Merrill Lynch investment

The state-run Korea Investment Corp. said that its $2 billion investment in Merrill Lynch was a mistake.“In 2008, KIC made the wrong decision to invest in Merrill Lynch,” said Ahn Hong-chul, chairma...

Updated : 2014.11.24 21:03

Samsung C&T wins $459.9m Malay LNG terminal order

Samsung C&T Corp., South Korea’s largest builder and trading company, said Monday that it has won a $459.9 million contract to build a liquefied natural gas terminal in Malaysia.The deal signed with Malaysia’s Petronas Gas Berhad calls for the company to take charge of the design as well...

Updated : 2014.11.24 21:01

More people forced to change jobs in 2013

The number of people who were forced to change jobs after being laid off or for other unwanted reasons jumped in 2013, reflecting tough economic conditions, data showed Monday.According to the data from Statistics Korea, the Financial Supervisory Service and the Bank of Korea, some 718,000...

Updated : 2014.11.24 21:01

UPS, Korea Post offer premium service for college applicants

UPS Korea said Monday that together with Korea Post, the country’s state-run postal service, it will offer a premium international mail service for those applying to overseas universities until Feb. 27 next year.UPS and Korea Post, which have provided a premium express mail service for co...

Updated : 2014.11.24 21:00

S. Korea to launch pilot shipment via N. Korea-Russia route this week

A ship carrying Russian coal will depart from the North Korean port of Rajin toward South Korea this week in a pilot shipment aimed at gauging the feasibility of a South Korean consortium's push for a logistics project linking the two Koreas with Russia, a government official said Monday. ...

Updated : 2014.11.24 16:00

Daewoo Shipbuilding wins order for Malaysian navy vessels

South Korea's Daewoo Shipbuilding & Marine Engineering Co. said Monday that it has obtained an order from the Royal Malaysian Navy to build six corvettes for deployment starting in 2018. The shipbuilder said the deal is subject to final approval by the Malaysian government. It did not dis...

Updated : 2014.11.24 15:52

Largest Korean-American bank to come to S. Korea

BBCN Bank, the largest Korean-American bank that has mostly focused on ethnic Korean customers in the United States, said Monday it is set to start business here to support Korean companies entering the U.S.    "BBCN Bank plans to officially open its Seoul office in November and prepar...

Updated : 2014.11.24 15:49