Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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Korea suffers massive outflow of foreign capital
Foreign investors are seen to have sold up to 2 trillion won ($1.8 billion) in the main bourse here this month, most likely affected by the default concerns in major emerging countries.Overseas investors net-sold local shares worth 314.6 billion won on the Korea Exchange on Tuesday, after net selling 524.5 billion won in Monday’s trading to post record-breaking sales for this month, according to industry data. So far this year, their combined net-selling came to 1.68 trillion won, and equity mar
Jan. 28, 2014
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[Graphic News] Rice losing dominance in Korean diet
Koreans are eating less rice, consuming other energy sources to sustain their health, data showed Tuesday. According to the Korea Centers for Disease Control and Prevention, rice accounted for 31.6 percent of major energy sources for Koreans in 2012, down nearly 10 percent from 2008. The average daily calories from rice consumption dropped to 629.41 calories per person, decreasing by 24.6 percent from 2008. This is about 170 grams, suggesting that one person consumes less than two bowls of rice
Jan. 28, 2014
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Seoul shares end higher on auto, telecom gains
South Korean stocks closed 0.34 percent higher Tuesday as automakers and telecommunications shares gained ground, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 6.59 points to 1,916.93. Trading volume was moderate at 267.3 million shares worth 4.13 trillion won ($3.82 billion) with gainers outpacing losers 436 to 363.“Weariness against emerging markets has risen. Korea is showing some differentiation from other markets, but
Jan. 28, 2014
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Lotte conducts major reshuffle
Lotte Group, the country’s fifth-largest business conglomerate, on Tuesday announced a personnel reshuffle of 214 executives in a bid to strengthen its overseas business and develop next-generation growth engines. The move was of the largest scale since group chairman Shin Dong-bin took office in 2012 to succeed his father and Lotte founder Shin Kyuk-ho. Eighty-two of the 214 executives were given promotions. It also came about a month earlier than Lotte’s annual reshuffle, which usually takes p
IndustryJan. 28, 2014
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POSCO finishes 2nd steel plant in Mexico
POSCO said Tuesday that it has completed its second automotive steel plant in Mexico, adding that it hopes to take advantage of the country’s burgeoning car industry with the new facility.POSCO also said the new plant would serve as a so-called “export base” for supplying the neighboring North American markets.The opening ceremony was held in the city of Altamira, Tamaulipas state, with its CEO Chung Joon-yang, Mexico’s Secretary of Economy Ildefonso Guajardo and other representatives from its k
IndustryJan. 28, 2014
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KT suffers first quarterly deficit in four years
KT, the nation’s second-largest telecom operator, on Tuesday reported a deficit in its quarterly operating profit for the first time in four years, mostly on account of its sluggish performance in its communications business, combined with its big spending on handset subsidies.The company’s fourth quarter operating loss stood at 149.4 billion won ($138 million), with a net loss of 300 billion won during the October-December period. For all of 2013, the mobile carrier reported 23.8 trillion won i
IndustryJan. 28, 2014
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Google fined W210m for data gathering
Korea’s communication regulator decided to fine Google Inc. Tuesday for collecting data of unspecified people by taking pictures for its Street View service. Holding a meeting to discuss the alleged data collection by Google, the Korea Communications Commission decided to impose a fine of 210 million won ($196,000) on the Internet giant. The commission has also ordered the California-based firm to delete all personal data it had gathered without consent, and to notify the progress on its Web-sit
TechnologyJan. 28, 2014
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SK Hynix achieves record earnings in 2013
SK Hynix, the world’s second-largest memory chip maker, said Tuesday it achieved record-high earnings last year.The chip manufacturer said it raked in 14.2 trillion won ($13.2 billion) of revenue, up 39 percent year-on-year, while recording 3.4 trillion won in operating profit, up by 24 percent compared to 2012. The company said the increases in sales and operating margin were driven by its flagship businesses including DRAM and NAND Flash. Efforts to beef up sales and price competitiveness also
TechnologyJan. 28, 2014
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Samsung’s smartphone sales fall in Q4
Samsung Electronics Co.’s smartphone shipments are estimated to have declined in the fourth quarter as competition intensified with its U.S. rival Apple Inc., market research data showed Tuesday.The world’s top smartphone maker sold 86 million smartphones around the globe in the October-December period, down from the 88 million units in the previous quarter, according to figures from Strategy Analytics.Samsung’s market share, which achieved a record high of 35.2 percent in the third quarter, fel
TechnologyJan. 28, 2014
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BMW recalls over 14,000 cars in Korea
BMW Group Korea, the local importer of German automaker BMW AG, is recalling over 14,000 vehicles sold here because of faulty wiring and a defective oil pump that could impair braking, the transportation ministry said Tuesday. The faulty wiring found in over 10,000 vehicles of 12 different types could cause a failure of various lights, including turn signals, according to the Ministry of Land, Infrastructure and Transport.The recall affects a total of 11,695 vehicles, including 9,822 units of th
MobilityJan. 28, 2014
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Banks’ lending rates rise for second month in December
South Korean banks’ lending rates rose for the second straight month in December as demand for funds by larger firms increased, the central bank said Tuesday.The average rates for new loans to households and firms stood at 4.52 percent in December, up 0.02 of a percentage point from the previous month, according to the Bank of Korea.The central bank froze the key interest rate at 2.5 percent for the eighth straight month in January after making its first rate cut in seven months in May.The avera
Jan. 28, 2014
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SK Telecom net halves in Q4
SK Telecom Co., the country’s top mobile operator, said Tuesday its fourth-quarter net profit halved amid rising competition among local telecommunications firms.Net profit came to 293.6 billion won ($272 million) in the October-December period, compared with 519 billion won tallied a year earlier, SK Telecom said in a regulatory filing.Revenue rose 3.3 percent on-year to 4.2 trillion won, while operating profit edged down 5.4 percent to 509.7 billion won.For all of 2013, the company posted a ne
TechnologyJan. 28, 2014
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GE turns to Samsung for success strategy
The management know-how of General Electric, a leading U.S. conglomerate, has long been considered a model for executives of Samsung Electronics. The tables have turned, as GE now studies the success of the South Korean tech giant in areas such as mobile devices and semiconductors. In 2013, Samsung Electronics became the world’s top IT and electronics company in terms of sales and profitability to beat previous leaders such as Apple and HP. Reflecting the changing tides, the GE management at its
BusinessJan. 28, 2014
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Hanwha capitalizes on Davos forum for solar marketing
Hanwha Group, a family-owned Korean conglomerate, has spurred its drive to market its fledgling engine-solar power business, starting with the 2014 World Economic Forum as the first international venue for promoting its goods. Hanwha, together with other firms, sponsored the annual meeting ― better known as the Davos forum in Korea. The forum is a global gathering of world business and government leaders who meet in Davos, Switzerland, to discuss pressing global agenda and build worldwide networ
BusinessJan. 28, 2014
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Ancient DNA points to modern peril
PARIS (AFP) ― “In some cases death came immediately; in others, after many days,” the historian Procopius wrote as a terrifying disease scythed through Constantinople in 542.“With some, the body broke out with black pustules about as large as a lentil and these did not survive even one day, but all succumbed immediately. Vomiting of blood ensued in many, without visible cause, and immediately brought death.”What Procopius observed first hand was the Plague of Justinian, named after the Eastern R
TechnologyJan. 28, 2014
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Festive dishes high in calories: study
As the Lunar New Year holiday is fast approaching, the cardiovascular center at Ewha Womans University Mokdong Hospital disclosed a calorie chart of staple foods for the celebration. (Wikipedia)The festive dishes contain high levels of three major nutrients -- protein, fat and carbohydrates. They are also rich in vitamins and minerals, the research team suggested.However, the holiday foods can be poisonous for those who suffer from high blood pressure, hyperlipidemia, diabetes or arteriosclerosi
TechnologyJan. 28, 2014
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BMW recalls over 14,000 cars in S. Korea for faulty wiring, parts
BMW Group Korea, the local importer of German automaker BMW AG, is recalling over 14,000 vehicles sold here because of faulty wiring and a defective oil pump that could impair braking, the transportation ministry said Tuesday.The faulty wiring found in over 10,000 vehicles of 12 different types could cause a failure of various lights, including turn signals, according to the Ministry of Land, Infrastructure and Transport.The recall affects a total of 11,695 vehicles, including 9,822 units of the
IndustryJan. 28, 2014
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Seoul shares up 0.12 pct in late morning trade
South Korean stocks traded 0.12 percent higher late Tuesday morning following sharp falls in the previous day sparked by financial jitters in some emerging countries, analysts said.After starting lower, the benchmark Korea Composite Stock Price Index rose 2.24 points to 1,912.58 as of 11:10 a.m.Foreign investors remained net sellers of local stocks.Top automaker Hyundai Motor advanced 2.68 percent and chip giant SK hynix rose 2.4 percent.Defensive stocks such as telecommunication shares shot up.
Jan. 28, 2014
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SK Telecom net halves in Q4
SK Telecom Co., the country's top mobile operator, said Tuesday its fourth-quarter net profit halved amid rising competition among local telecommunications firms.Net profit came to 293.6 billion won ($272 million) in the October-December period, compared with 519 billion won tallied a year earlier, SK Telecom said in a regulatory filing.Revenue rose 3.3 percent on-year to 4.2 trillion won, while operating profit edged down 5.4 percent to 509.7 billion won.For all of 2013, the company posted a ne
TechnologyJan. 28, 2014
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Sales of industrial electricity rise 4.4 pct in Dec.
Electricity used by South Korea's industrial sector rose from a year earlier last month, partly reflecting a growth in exports, the government said Tuesday.Electricity consumed by the industrial sector amounted to 23.25 billion kilowatt-hours in December, up 4.4 percent from the same month last year, according to the Ministry of Trade, Industry and Energy."Use of industrial electricity rose 4.4 percent on-year on an increase in the number of working days in December and growing exports from an e
IndustryJan. 28, 2014