Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
[Music in drama] Rekindle a love that slipped through your fingers
-
4
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
5
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
6
On May Day, labor unions blast Yoon's foreign nanny proposal
-
7
Seoul Metro to seek legal action against malicious complaints
-
8
Illit, mired in controversy, remains on Billboard charts for 5th week
-
9
[KH Explains] Will alternative trading platform shake up Korean stock market?
-
10
S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
-
Class action suits over data leak may cost 3 card firms 170 bln won
The three credit card firms hit by recent massive data leaks may have to pay up to 170 billion won ($158 million) in compensation to their clients to settle class action lawsuits, data showed on Monday.Last month, the Financial Supervisory Service, the country's financial watchdog, revealed that some 20 million clients' personal data, including bank account numbers, addresses and credit ratings, have been leaked from the three card issuers -- KB Kookmin Card Co., NH Nonghyup Card Co. and Lotte C
Feb. 3, 2014
-
Gov't to enforce 'indefinite crackdown' on illegal circulation of client data
The government on Sunday announced a plan to launch an intensive crackdown on the illegal distributors of personal data to prevent further damage from the latest massive leak of customer data from three leading credit card firms.Law enforcement authorities will begin an indefinite crackdown on those who illegally circulate or use the leaked data, the prime minister's office said after a meeting of related Cabinet ministers.It was the first regular weekend meeting presided over by Prime Minister
Feb. 2, 2014
-
[Graphic News] World’s most expensive cities
London is the most expensive city to live in, followed by Oslo, the capital of Norway, according to a survey by expatistan.com. Seoul of ranked at 37th in the survey to place fourth among Asian capital cities. The survey involved a price index for 5,190 commodities across 1,617 international cities. Three of Switzerland’s cities placed within the top 10.
Feb. 2, 2014
-
Seoul shares may gain ground this week: analysts
The South Korean stock market may gain ground this week on investors’ belief that concerns about financial jitters in emerging countries may have limited impact on Korea, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,941.15 this week, down 0.6 percent from a week earlier.The KOSPI lost ground this week as investors were rattled by market uneasiness in Argentina over tapering of U.S. quantitative easing. Foreign investors sold a net 860 billion won ($803 mil
Feb. 2, 2014
-
Global ICT leaders to discuss Internet governance
It has been a long time since the Internet took on a life of its own, and these days, how to govern and regulate cyberspace is a central issue.There is now a silent but potent power struggle going on between developed and developing countries over who should call the shots on Internet governance. Min Won-ki, the chairman designate of ITU-PP. (ICT ministry)The issue will most likely turn up at the upcoming International Telecommunications Union Plenipotentiary Conference in Busan from Oct. 20-N
TechnologyFeb. 2, 2014
-
Seoul sweats over U.S. tapering
The nation’s chief financial supervisor on Sunday raised the possibility of Korea becoming susceptible to aftershocks from U.S. tapering policies that has served a heavy blow to the world’s emerging economies. “Korea could be infected by a second round of woes in the wake of the (latest) financial crisis seen to be rising in some of the world’s more vulnerable emerging countries,” said Financial Services Commission Chairman Shin Je-yoon during a meeting of senior policymakers.Shin presided over
Feb. 2, 2014
-
Lenovo-Motorola out to overtake Apple, Samsung in smartphones
Lenovo, the world’s largest personal computer maker, is ready to beef up its smartphone business with the aim of selling more than 100 million units globally in two years as soon as the U.S. approves its acquisition of Google’s Motorola Mobility.Its goal is to gain hard on the heels of Samsung Electronics and Apple, the world’s top smartphone makers, following its $2.9 billion acquisition, which marks the fourth-biggest by a Chinese company.This has enabled the Chinese PC maker to further boost
TechnologyFeb. 2, 2014
-
Lotte Beverage enters Myanmar
Lotte has entered Myanmar’s beverage market as a bottler for PepsiCo, the company said last week. Lotte Chilsung Beverage, the beverage division of the country’s fifth largest business conglomerate, launched LOTTE-MGS Beverage at the Traders Hotel in Yangon on Jan. 29. A total of 150 high-ranking officials from Lotte and MGS as well as Myanmar political figures were present, the company said. “Myanmar has great potential and will be a strategic location in Southeast Asia. I hope Lotte will lead
IndustryFeb. 2, 2014
-
Less than half of foreign-owned firms pay corporate taxes
Less than half of the foreign-owned firms operating in Korea but based overseas paid corporate taxes in Korea last year, mostly on account of lackluster business performances, data showed Sunday.The National Tax Service said that as of the end of 2012, there were 1,646 foreign companies operating in Korea, among which 1,513 registered to pay corporate taxes. Out of this number, 734 ― or 44.6 percent ― were actually subject to taxes totaling 769.4 billion won ($707.3 million). This is because out
IndustryFeb. 2, 2014
-
Air Busan aims to double sales to W700b by 2018
Air Busan, the nation’s second-largest low-cost carrier, announced Sunday it would seek to double its sales to 700 billion won ($652 million) by 2018 to become the top short-haul flight in Asia. When the company achieves this mid-term sales goal, its operating profit is forecast to grow to 40 billion won by 2018, the company added. “For this future growth goal, the company will increase the number of carriers to 19 from the current 9 over the next four years,” the company said in a press release
IndustryFeb. 2, 2014
-
Three card firms to be suspended as of Feb. 14
KB Kookmin Card, NH NongHyup Card, and Lotte Card are to be banned from recruiting new customers or issuing loans for the next three months, starting Feb. 14, according to the Financial Services Commission.The three-month suspension, which is the maximum sanction possible under the current law, is expected to take effect following a 10-day preparatory period starting Monday. This will be the first nationwide business suspension in the credit card sector since 2003.During the three months, the cr
Feb. 2, 2014
-
Korea’s trade deficit in kimchi widens in 2013
South Korea’s exports of kimchi decreased in 2013 from a year earlier due to the falling demand from Japan amid the weak yen, data showed Sunday, enlarging the trade deficit of the country’s staple side dish.According to the data by the World Institute of Kimchi, the country’s exports of kimchi decreased 16.3 percent to $89.2 million won on-year in 2013, while its imports climbed 5.9 percent to $117.4 million won.The gap has left South Korea with a trading deficit of $28.1 million in 2013, soari
Feb. 2, 2014
-
ETFs take up 20 percent of KOSPI trading volume
South Korea’s exchange-traded funds (ETFs) took up nearly 20 percent of the main bourse’s trading volume in 2013, data showed Sunday, apparently as investors sought after safer investment destinations.The average daily trading volume of ETFs came to 792.5 billion won ($739 million) last year, accounting for 19.3 percent of the 3.9 trillion won by the main bourse, according to the data compiled by the Korea Exchange (KRX).An ETF refers to an investment fund traded on stock exchanges and represent
Feb. 2, 2014
-
Carmakers in heritage battle
TOKYO ― A lavishly designed two-story building stands in Tokyo’s Aoyama district, a neighborhood crowded with architectural flagship stores of luxury brands like Prada, Dior and Comme des Garcons.But the new space, which was set up in August last year, is not dedicated to designer brand clothes or bags. Named “Intersect by Lexus,” it’s a boutique cafe and restaurant themed around the luxury brand owned by Toyota Motor.“It was a pleasant surprise and is a good fit for Aoyama,” said Sachiko Sai, w
MobilityFeb. 2, 2014
-
[Photo News] BMW gives back
IndustryFeb. 2, 2014
-
Genesis, Soul win iF awards ahead of European launches
Hyundai Motor Group, the world’s sixth-largest automotive conglomerate, said Wednesday its new Genesis premium sedan and the second generation Soul boxy compact received international design awards ahead of their European launch in the first half of 2014.The group said the Genesis made by Hyundai Motor Co. and Soul produced by sister company Kia Motors Corp. were named product design winners in the transportation segment at the 2014 International Forum Design Award (iF) event in Germany.“The iF
MobilityFeb. 2, 2014
-
AMG beats 2017 sales goal on Mercedes compacts
Mercedes-AMG brand beat an annual delivery target four years early in 2013 as the manufacturer of high-performance cars expanded into smaller models.AMG sold about 32,200 autos last year, the Affalterbach, Germany-based unit of Daimler AG said today in a statement. That exceeds a 30,000-vehicle goal set for 2017 that the company outlined in mid-2012, when it indicated that annual deliveries were averaging 20,000.The 47-year-old business, known for its hand-built performance engines and sporty ex
MobilityFeb. 2, 2014
-
Mexico surpassing Japan in exporting autos to U.S.
Blame it on NAFTA.Japan has ranked among the top two auto exporters to the U.S. since the 1970s, shipping Toyotas, Hondas and Nissans more than 8,000 kilometers across the Pacific.The Asian nation is poised to be eclipsed this year by Mexico, which as recently as 1990 sent fewer than a quarter of a million vehicles across its northern border. Mexico’s tally will reach 1.9 million in 2015, topping Canada as the biggest exporter of cars to the world’s largest economy, consultant IHS Automotive est
MobilityFeb. 2, 2014
-
Toyota labor union to request salary increase as profit surges
Toyota Motor Corp.’s labor union is seeking a raise in workers’ base salary for the first time in five years as analysts estimate profit at Japan’s biggest manufacturer rose to a record profit this fiscal year.The workers will ask at the annual spring labor negotiations for a net 4,000 yen ($39) average increase in monthly wages and annual bonuses valued at 6.8 months’ salary, according to a statement from the union yesterday.The demand from the workers of the world’s biggest automaker comes aft
MobilityFeb. 2, 2014
-
Fossils of Neanderthal DNA clump found in human genome
WASHINGTON (AP) ― Next time you call someone a Neanderthal, better look in a mirror. Many of the genes that help determine most people’s skin and hair are more Neanderthal than not, according to two new studies that look at the DNA fossils hidden in the modern human genome.About 50,000 years ago, modern day humans migrated out of Africa north to Europe and East Asia and met up with furrow-browed Neanderthals that had been in the colder climates for more than 100,000 years. Some of the two specie
TechnologyFeb. 2, 2014