Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Samsung pushes for global competitiveness
Chief executives of Samsung Electronics plan to work at the company’s overseas offices including those in Silicon Valley and New York on a regular basis, aiming to transform the Seoul-based tech giant into a truly global company.“The tech giant’s CEOs from next month will start working at one of the company’s overseas offices once every two or three months to better understand the global market trends,” a senior Samsung official was quoted as saying.Samsung Electronics, the world’s largest smart
TechnologyMay 11, 2015
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Hyosung Group’s cash cow running on shaky legs
Hyosung Corp., the flagship firm and cash cow of Hyosung Group, is suffering from a continued profit slump, data suggested. Hyosung’s net profit for 2014 came in at 184.9 billion won ($169.3 million), down 31.9 percent compared to 2010, according to data released Monday by the corporate assessment website CEO Score.Analysts attributed Hyosung’s profit decline to the slowdown experienced across the company’s portfolio with the exception of its textiles business. The data said Hyosung’s industrial
IndustryMay 11, 2015
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Stokke to offer free stroller repairs due to fall hazard
Norwegian baby product manufacturer Stokke decided to offer free repairs to Korean consumers who purchased its stroller model Trailz after a fall hazard prompted its recall in other countries, the company said on Sunday. “The model is not officially distributed in Korea but we will provide free repair service to Korean consumers,” a Stokke Korea official said. The move comes after the Korea Consumer Agency advised Stokke Korea to take appropriate measures for those who bought the high-end stroll
IndustryMay 11, 2015
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Banks focus on floating-rate loans
Weighed down by the government-led loan transfer program last month, local banks are increasing the interest charges for their fixed-rate mortgages and placing more focus on floating-rate products.Borrowers now have either to bear a higher fixed rate or take the risk of future rate hikes, which has led to complaints that banks are attempting to shift their financial burden onto consumers.According to industry officials on Monday, major banks here upped their housing mortgage fixed rate by up to
May 11, 2015
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E-Mart’s clothing sales rise for first time in 42 months
Monthly clothing sales for South Korean supermarket chain E-Mart have risen in April for the first time in 3 1/2 years, the company said Monday.The retailer saw a 1.4 percent on-year rise in clothing sales in April, putting an end to 14 straight quarters of decline.“While E-Mart’s sales index is showing an upward trend during the first quarter, fashion sales grew for the first time in 42 months as well,” an E-Mart official said. The performance was lifted by the growth of E-Mart’s fashion label
IndustryMay 11, 2015
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KT to build electricity metering system in Uzbekistan
KT, South Korea’s No. 2 telecom network carrier, said Monday it has secured a $110 million deal with the Uzbekistani government to build the nation’s advanced electricity metering system.As part of a joint project with Asian Development Bank, KT plans to install smart electric readers at some 1 million houses in Uzbekistan’s three big cities by 2017. The company said other related systems for data management and charging will be developed along with the readers that can be remotely controlled. “
IndustryMay 11, 2015
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All-new Carnival dominates Korea’s camping van market
Koreans work hard, but also play hard. Highways nationwide are packed with vehicles from the early morning every weekend in May, nicknamed the “month of family” with Children’s Day and Parents’ Day. “A surge in family trips is one of the key reasons the highways are jam-packed every weekend, regardless of the season,” an industry watcher said.With household income increasing and family-oriented lifestyle gaining mainstream, the leisure travel boom has swept Korea over the past few years. Camping
MobilityMay 11, 2015
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Audi sports car race to open in Yeongam this weekend
South Korea will host the third and fourth rounds of the Audi R8 Le Mans Series 2015 this weekend at the Korea International Circuit in Yeongam, South Jeolla Province, according to Audi Korea Monday.The Audi R8 LMS Cup is an international sports car race based in Asia, in which drivers can only use cars from Audi’s R8 LMS lineup ― specially designed GT3 racing cars based on Audi’s high performance sports car the R8.Team Audi Korea You Kyoung-ouk’s vehicle. (Audi Korea)This year’s edition of Audi
MobilityMay 11, 2015
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Mercedes-Benz beats BMW again in April domestic sales
The neck-and-neck competition between BMW and Mercedes-Benz has been a buzzword in the foreign car community since the beginning of this year.In April, Mercedes-Benz retook the top position in monthly sales of foreign car brands, pushing BMW down to the second spot ― with its market share reaching 19.69 percent. The results are based on the April survey of newly registered foreign cars by Korea Automobile Importers and Distributors Association, an indicator of foreign car sales.According to the
MobilityMay 11, 2015
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[Photo News] New service center
MobilityMay 11, 2015
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[Photo News] Wooing young customers
MobilityMay 11, 2015
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[Photo News] Chevrolet anniversary
MobilityMay 11, 2015
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S. Korea may be 4th-biggest stakeholder in AIIB: minister
South Korea is expected to hold the fourth-largest stake in the new China-led regional infrastructure development bank in light of Seoul's economic power, the top economic policymaker said Monday.In late March, South Korea announced its decision to join the Asian Infrastructure Investment Bank as one of its founding members in a bid to further Seoul's own economic interests in the region.Almost all Asian countries, except for Japan, have applied for membership, along with major European countrie
May 11, 2015
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S. Korea to boost oversight of R&D projects: finance minister
South Korea will ratchet up oversight of state-funded research and development (R&D) projects and try to better utilize their outcomes to help fuel economic growth, the nation's economic czar said Monday.Faced with intensifying competition from China and other rivals, South Korea has been pouring money into R&D projects over the past years in an effort to provide tailwinds for Asia's fourth-largest economy.R&D spending has grown at an annual average rate of 12 percent over the last decade, with
TechnologyMay 11, 2015
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Seoul shares gain 0.57 pct on China's rate cut
South Korean stocks closed 0.57 percent higher Monday, as another rate cut in China and a strong U.S. job market whetted investor appetite, analysts said. The local currency lost ground against the U.S. dollar. The Korea Composite Stock Price Index rose 11.86 points to finish at 2,097.38, snapping a three-day losing streak. Trading volume was moderate at 326.9 million shares worth 4.97 trillion won ($4.57 billion) with gainers far outstripping decliners 564 to 232. Analysts said the additional r
May 11, 2015
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S. Korea to use big data for business opportunities
South Korean President Park Geun-hye announced a plan Monday to take advantage of big data to create new business opportunities as she launched a new innovation center."Big data is a new capital of the creative economy," Park said in the opening ceremony of the latest innovation center in Chuncheon, some 85 kilometers east of Seoul, in Gangwon Province.Park's signature creative economy vision calls for boosting the economy and creating jobs by turning creative ideas into real businesses through
May 11, 2015
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S. Korean banks' Q1 profit jumps 61.7 pct
South Korean banks' first-quarter earnings jumped 61.7 percent from a year earlier on increased non-interest income, the financial watchdog said Monday.The combined net profit of 18 local lenders stood at 2.1 trillion won ($1.9 billion) in the January-March period, compared with 1.3 trillion won the previous year, according to the Financial Supervisory Service.The strong bottom line came as their non-interest income more than tripled to 1.8 trillion won in the first quarter from 500 billion won
May 11, 2015
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BOK expected to hold key rate in May: poll
South Korea's central bank is expected to freeze its benchmark interest rate for a second month in May as it continues to monitor major indicators of Asia's fourth-largest economy, a poll showed Monday.A whopping 12 out of 13 analysts and economists surveyed by Yonhap Infomax, the financial news arm of Yonhap News Agency, forecast the Bank of Korea will hold the base rate steady at a record low of 1.75 percent at its policy meeting on Friday.Last month, the central bank left the key rate unchang
May 11, 2015
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S. Korea's ICT exports shrink in April
South Korea's exports of information and communication technology products dropped slightly from a year earlier in April, marking the third consecutive month of drop, the government said Monday.Outbound shipments of ICT products amounted to US$14.34 billion last month, down 2.7 percent from the same month last year, according to the Ministry of Trade, Industry and Energy. Imports gained 3.9 percent on-year to $7.57 billion.The country's trade surplus in the ICT sector dropped 9.1 percent on-year
IndustryMay 11, 2015
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S. Korea's auto exports drop 6 pct in April
South Korea's automobile exports shrank significantly from a year earlier in April amid a continued economic slowdown in most advanced and emerging markets, the government said Monday.In April, South Korea shipped 282,019 vehicles, down 6 percent from the same month last year, according to the Ministry of Trade, Industry and Energy."Despite a rise in shipments to the United States, one of the world's largest markets for automobiles, the country's exports dropped 6 percent in April amid a growing
MobilityMay 11, 2015