Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Golden chance to liquidate babies’ gold rings?
-
3
Inflation eases in April, continues bumpy ride
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
6
Seoul alerts overseas missions to NK terror threats
-
7
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
8
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
9
‘Inside Out 2’ adds four new emotions, explores teenage life
-
10
Questions raised over fair promotion of RM, NewJeans
-
Seoul shares to remain bearish on earnings, currency woes
The South Korean stock market is likely to continue its downward march this week as investors remain cautious over the volatile currency, downbeat corporate earnings, and foreign investors’ massive sell-offs, analysts said Saturday.The benchmark Korea Composite Stock Price Index lost some 2.5 percent to close at 1,976.16 last Thursday over the previous week, the lowest since June 23 when it closed at 1,974.92 points, as foreign investors dumped market heavyweights amid increased currency risks a
Oct. 5, 2014
-
KOGAS moves headquarters to Daegu
Daegu officials welcome the relocation of KOGAS’ head office to the city. (KOGAS)The state-run Korea Gas Corp. started operations at its new headquarters in Daegu on Oct. 1.Welcomed by city government officials and companies in Daegu after about two weeks of moving, KOGAS CEO Jang Seok-hyo wished the company and employees good luck and future prosperity.KOGAS’ 64,892-square-meter new building, on which construction began in March 2012, has 13 floors. The building is 50 percent more energy effici
Oct. 5, 2014
-
2nd Lotte World readies for partial opening in October
South Korean retail giant Lotte Group is getting ready to open three completed commercial retail buildings on the lower part of the second Lotte World complex under construction in Songpa district, southern Seoul, within this month.Preparation efforts were boosted after Seoul City last Thursday approved the partial opening of the complex, ending months of controversy over its safety and other concerns. A department store, shopping malls and other entertainment facilities fill the lower areas alo
IndustryOct. 5, 2014
-
Samsung, Hyundai fined for collusion
The nation’s antitrust watchdog said Sunday it had fined Samsung C&T and Hyundai Development Co., two of Korea’s top 10 builders, a combined 19 billion won ($17.7 million) for colluding in 2009 to fix the bidding price for the third stage of a construction project to build Seoul subway Line No. 9. The Fair Trade Commission slapped the construction arm of Samsung Group with a fine of 16.2 billion won, while Hyundai Development was fined with 2.7 billion. The watchdog added it would report irregul
Oct. 5, 2014
-
Korean economy to grow 3.6 percent in 2015
The South Korean economy is expected to expand 3.6 percent in 2015 from this year amid sluggish private consumption and low inflation, a private think tank forecast Sunday. The Hyundai Research Institute predicted Asia’s fourth-largest economy will likely grow 3.5 percent in the first half of next year and gain 3.6 percent in the second half.The think tank’s 2015 outlook is the same as its forecast of 3.6 percent for this year.HRI’s growth forecast for next year, however, is lower than a 4 perce
Oct. 5, 2014
-
New FDI to Korea soars 38 percent this year
New foreign direct investment pledged to South Korea jumped 38 percent on-year in the first nine months of this year despite slowing economic growth at home and abroad, the government said Sunday.In the January-September period, the amount of new FDI pledges to South Korea came to $14.82 billion, up 37.9 percent from a year earlier and the highest-ever figure for the nine-month period, according to the Ministry of Trade, Industry and Energy. The amount of new FDI that arrived here during the per
Oct. 5, 2014
-
Household loans to top W1 quadrillion mark this year
South Korea’s household loans extended by financial institutions are expected to surpass the 1 quadrillion won ($942.6 billion) mark this year, data showed Sunday.Outstanding household loans by financial institutions, including commercial lenders, insurers and financial agencies stood at 982.5 trillion won as of the end of the second quarter, according to data from the Bank of Korea. As of end-August, household loans reached 993 trillion won. If the trend keeps up, the country’s household loans
Oct. 5, 2014
-
Global carmakers beef up output in Hungary
BUDAPEST ― Hungarian officials were disappointed when Hyundai Motor decided to locate its European production base in the Czech Republic in 2006.In a highly publicized bidding war, the two countries closely contested for the lucrative deal. But Hungary, already home to Audi, Opel and Suzuki plants at the time, failed to defeat its regional rival.“We were very disappointed about the result,” said Gobor Simon, a director of the Hungarian Investment Promotion Agency based in Budapest, recalling the
MobilityOct. 5, 2014
-
Ferrari takes top off with 458 Speciale A
PARIS (AP) ― The top draw at Ferrari’s stand at the Paris Motor Show is its 458 Speciale A ― ‘A’ for Aperta, which means ‘open’ in Italian. It’s what’s otherwise known as a spider, with an open top to give drivers the ultimate Ferrari driving experience.Ferrari says the 458 is its most successful V8 sport Ferrari ever, and this limited edition version will no doubt add to that popularity.Inside: Carbon fiber and suede-like Alcantara materials are everywhere inside, and space is saved by clever p
MobilityOct. 5, 2014
-
AMG GT S to take on Porsche, Jaguar
PARIS (AP) ― If there’s one car that can challenge Lamborghini for drawing gaping crowds at this year’s Paris Motor Show, it’s the AMG GT S on display at Mercedes’ stand.The bright yellow sports car from Mercedes’ performance division screams speed. It’s also just the second sports car developed entirely in-house by AMG, which aims to compete in the same class as the Porsche 911 and the Jaguar F-Type. New Mercedes automobiles including the Mercedes-AMG GT (center), and Mercedes-AMG C63 automobil
MobilityOct. 5, 2014
-
Hyundai, Kia sales in China hit 9m milestone
Hyundai Motor Group said Sunday that its cumulative sales of Hyundai and Kia cars in China have exceeded 9 million units since it entered one of the world’s largest automotive markets in 2002. Thanks to the rise in demand for sports utility vehicles and compact cars, the world’s fifth-largest carmaker sold more than 1.2 million units in the first nine months of this year.According to the figures, Beijing Hyundai sold 812,399 cars and Dong Feng Yueda Kia sold 459,759 units from January to Septemb
MobilityOct. 5, 2014
-
Carmakers look to better times
PARIS (AP) ― European carmakers are hoping to impress with new models at this week’s Paris Motor Show and prove they have come out stronger from years of economic trouble and cost-cutting.The glitz of Paris has been dimmed in recent editions of the world’s oldest car show, as cash-strapped customers shunned showrooms, corporate bosses begged for bailouts and workers fought for their jobs. The auto sector has long been one of Europe’s most troubled industries and is only now emerging from a painf
MobilityOct. 5, 2014
-
BOK expected to cut key rate in Oct. on slow recovery
South Korea's central bank is expected to slash its key interest rate in October in the wake of its August rate cut due to a slow recovery in the country's economy and volatile foreign exchange rates, market watchers said Sunday.In August, the Bank of Korea cut the base rate to 2.25 percent from 2.5 percent, the first rate reduction in 15 months, in an effort to lend support to the government's efforts to boost the economy. Last month, the central bank froze the rate as widely expected.The BOK i
Oct. 5, 2014
-
Household loans expected to top 1,000-tln won mark this year
South Korea's household loans extended by financial institutions are expected to surpass the 1,000-trillion won (US$942.6 billion) mark this year, data showed Sunday, escalating concerns over the number of indebted households seeing meager income growth compared to rises in prices, especially rents. Outstanding household loans by financial institutions including commercial lenders, insurers and financial agencies stood at 982.5 trillion won as of the end of the second quarter, according to the d
Oct. 5, 2014
-
New FDI to S. Korea soars 38 pct this year
New foreign direct investment (FDI) pledged to South Korea jumped 38 percent on-year in the first nine months of this year despite slowing economic growth at home and abroad, the government said Sunday.In the January-September period, the amount of new FDI pledges to South Korea came to US$14.82 billion, up 37.9 percent from a year earlier and the highest-ever figure for the nine-month period, according to the Ministry of Trade, Industry and Energy. The amount of new FDI that arrived here during
Oct. 5, 2014
-
Hyundai, Kia see cumulative sales in China top 9 mln units
South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. said Sunday their cumulative sales in China have exceeded 9 million units in 12 years since their entry into the fast-growing market.In the first nine months of this year, Hyundai and Kia sold a combined 1.28 million units in the Chinese market, up 9.5 percent from the same period a year earlier.The January-September figure raised the two companies' cumulative sales in China to more than 9 million vehicles,
IndustryOct. 5, 2014
-
Samsung Group mulls moving Lee home for treatment
Lee Kun-hee, the de facto head of Samsung Group who has been hospitalized since May after suffering a heart attack, might be transferred to his house for further medical treatment, group sources said Friday, amid media reports that his condition is improving. In preparation for home medical treatment, the sources said that Samsung Group is building an elevator inside Lee's house located in central Seoul. "It is right that we are building an elevator in case of his release from the hospital
Oct. 3, 2014
-
Samsung Electronics to invest $1.4b for appliance
South Korean tech giant Samsung Electronics Co. will spend $1.4 billion to build a consumer electronics production plant in Vietnam to meet global demand for home appliances, the company said Thursday.The tech giant confirmed its investment in the complex would cover production of TVs, air conditioners, washing machines, refrigerators and other home electronics as well as working capital.Formal written approval for the plant from the Vietnamese government, delivered to company vice chairman Lee
TechnologyOct. 2, 2014
-
South Korea's economy steadily recovering but pace remains
South Korea's economy is recovering steadily, but the pace still remains weak with business sentiment sharply deteriorating, the top economic policymaker said Thursday. "We are making a steady recovery, but its speed and strength remains weak," Finance Minister Choi Kyung-hwan said at a meeting with a journalists' group in Seoul. "In particular, business sales are declining and profitability is getting worse, a sign that corporate sentiment is sharply shrinking." Choi gave a bleak assessm
Oct. 2, 2014
-
Samsung Electronics to build appliance complex in Vietnam
South Korean tech giant Samsung Electronics Co. will build a US$560 million industrial complex in Vietnam to produce consumer electronics (CE) to meet growing global demand for home appliances, the company said Thursday. The complex will be built in the southern Vietnamese city of Ho Chi Minh on a plot of 700,000 square meters. The scheduled completion date of the plant was not specified. Nguyen Phu Trong, general secretary of the Communist Party of Vietnam, delivered a formal written approv
TechnologyOct. 2, 2014