Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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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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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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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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Seoul shares open higher on carmakers, financials
South Korean stocks opened higher Monday due mainly to gains by carmakers and financial firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) added 2.38 points, or 0.12 percent, to 2,047.25 in the first 15 minutes of trading.Carmakers gathered ground, with No. 1 Hyundai Motor rising 0.6 percent and its smaller affiliate Kia Motors adding 0.17 percent. Auto parts maker Hyundai Mobis rose 0.98 percent.Financial firms also traded bullish, with Shinhan Financial moving up 2.13
Dec. 2, 2013
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[Graphic News] Economic scale of the TPP
The Trans-Pacific Partnership currently involves 38 percent of the world’s total gross domestic product and 27.8 percent of total trade, though it only covers 11.2 percent of the world’s population. The Korean government on Friday said it would carefully review its participation in the U.S.-led multilateral trade bloc.
Dec. 1, 2013
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Korean consumers join Black Friday fever
As Black Friday kicked off the Christmas shopping season in the U.S., consumers in South Korea joined the retail frenzy through online stores. A growing number of consumers here recognize and show interest in Black Friday, the day after Thanksgiving in the U.S. that kicks off a sale season that lasts until January. A survey of 1,400 consumers by local online shopping mall 11street found that 40 percent of respondents had purchased products in previous years’ Black Friday sales. Some consumers di
Dec. 1, 2013
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Korean American elected to lead American Chamber of Commerce
A Korean-American has been elected as the new leader of the American Chamber of Commerce in Korea for the first time in the organization’s 60-year history.James Kim, the general manager and CEO of Microsoft Korea, is to replace the incumbent chairperson Pat Gaines in January for a one-year term.Kim was picked to lead the influential group in a one-month election process in November. Kim ran as a sole candidate. Observers expressed hopes that along with U.S. Ambassador to Seoul Sung Kim of Korea
IndustryDec. 1, 2013
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Samsung braces for annual reshuffle
Korea’s largest conglomerate Samsung Group is expected to conduct its year-end personnel reshuffle starting Monday, a move that is widely expected to have huge repercussions as the Samsung Electronics chairman prepares to delegate more authority to his children.Much of the scrutiny is on Seo-hyun and Boo-jin, chairman Lee Kun-hee’s two daughters, who reportedly will receive promotions in the upcoming reshuffle, industry sources said. The sources predicted that Lee’s eldest daughter Boo-jin, curr
BusinessDec. 1, 2013
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Russian oil firm eyes DSME
A Russian company is steps away from winning management control over Daewoo Shipbuilding & Marine Engineering, one of Korea’s top three shipbuilders and the leading military ship manufacturer.A ranking Russian government official confirmed that Korea and Russia are discussing the potential for Russia’s state-run oil company Rosneft to acquire DSME’s stocks.“We are currently in discussion,” said Natalia Burykina, chairperson of Russia’s State Duma Committee on Financial Market.Burkykina visited K
IndustryDec. 1, 2013
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Korea to crack down on state firms’ debt
Lawmakers of the Strategy and Finance Committee of the National Assembly have called for tougher measures against 12 state-run enterprises whose debt has nearly doubled over the last five years.In a report by the Ministry of Strategy and Finance submitted to the committee, the aggregate debt of 12 state-owned enterprises reached about 305.2 trillion won ($288.4 billion) at the end of last year, up from 158.6 trillion won in 2008.Korea Land & Housing Corp. had the highest debt of about 100 trilli
Dec. 1, 2013
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American Express deal lets Shinhan expand card business
Shinhan Card, Korea’s top credit card issuer, said it would offer more cards and services through its expanded relations with American Express.This comes as the two sides agreed to boost their relationship, paving the way for Shinhan Card to tap a greater number of consumers via American Express’ global networks.Shinhan Card said its new U.S. partner would help it provide more diverse services and product choices for Korean consumers.“By partnering with American Express, we expect to provide mor
Dec. 1, 2013
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Kia achieves biggest ranking hike in satisfaction in U.S.
Kia Motors Corp., South Korea’s second-largest carmaker, has become the most-improved nameplate among mass market brands in satisfaction among new-vehicle buyers in the United States, a recent U.S. survey showed.The maker of flagship K9 luxury sedan saw its score jump by 33 points to 661 points on a 1,000-point scale, and ranked 11th, up from 16th in 2012, according to the J.D. Power 2013 U.S. Sales Satisfaction Index Study released last month.Meanwhile, Kia’s bigger sister company, Hyundai Moto
IndustryDec. 1, 2013
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Korean Air offers early retirements
Korean Air said that it would offer an early retirement program to its employees from Dec. 2-17 amid an industry downturn.The airline will continue to provide welfare benefits, including scholarships for employees’ children and discounted airline tickets to those who apply for the program.Employees aged over 40 who have worked for the airliner for over 10 years will be eligible for the program.Company officials said it would aim to help its employees find new opportunities through the program un
IndustryDec. 1, 2013
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Dongbu Daewoo adds R&D team in China
Dongbu Daewoo Electronics has for the first time established an overseas research and development team at its Tianjin production facility in China, the company said Sunday.The team will focus on R&D for kitchen appliances, and will serve as a subunit for Dongbu Daewoo’s existing main R&D center in Bupyeong, Incheon.The company hopes to continue expanding its overseas R&D reach based on the new team in China. “The establishment of the new research team has strengthened our communication with the
IndustryDec. 1, 2013
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POSCO E&C wins $48m order in Vietnam
POSCO Engineering & Construction, a construction arm of South Korea’s largest steelmaker POSCO, said Sunday it has won a $48.6 million order to build an expressway in Vietnam.POSCO E&C said it plans to complete the 13.9-kilometer section of the Ho Chi Minh City Long Thanh Dau Giay Expressway in 24 months after starting construction under a deal with the state-run Vietnam Expressway Corporation.The company did not elaborate on when the construction would start for the latest Vietnam project. (Yon
IndustryDec. 1, 2013
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Seoul shares to trade higher amid eased U.S. woes
The South Korean stock market is expected to trade higher next week amid abated uncertainty over the U.S.’ tapering of quantitative easing, analysts said Saturday.The benchmark KOSPI gained 2 percent Friday from a week earlier to close at 2,044.87.Earlier this week, Seoul shares gathered ground on the back of a foreign-led buying rally amid abated concerns over a tapering of economic stimulus moves by the U.S. Federal Reserve.The local stock market also remained bullish later in the week on the
Dec. 1, 2013
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Panamera 4S, an upscale family car
Just one ride in the Panamera 4S demonstrates that the Porsche model was made to compete with most of today’s top luxury saloons, including brands like Maserati and Aston Martin.The experience was even more satisfactory as I had been given this year’s facelift model, the Panamera II with all-wheel drive and a 3.0-liter V6 twin turbo engine promising 420 horsepower. The most notable feature of the Panamera 4S was, as many had told me before the test-drive, is that it’s a sports car designed to dr
MobilityDec. 1, 2013
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Ssangyong Motors launches premium ‘W Experience’
Ssangyong Motors last week launched a new marketing campaign, “The W Experience,” in a move to offer premium VIP services to the owners of its best-selling flagship sedan Chairman W.Cultural and other events, such as gallery visits and driving schools, will be provided under the campaign, the carmaker said Sunday.The “Flower Art in Gallery” is one such program provided exclusively for the spouses of drivers who own Chairman W models produced before this month.The event, which will be held at Gan
MobilityDec. 1, 2013
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Kia to accept pre-orders for new K5, K7 hybrids
Kia Motors has announced it would begin taking preorders Monday of its new K5 and K7 hybrids that are set to launch on Dec. 16.The remodeled vehicles ― newly named the K5 Hybrid 500h and K7 Hybrid 700h ― lead the lineup of the company’s midsize and large hybrids and mark the official kickoff of its full-scale entry into the market, the company said.Kia Motors expects its new release to give consumers a bigger choice and ultimately widen the local market for hybrids, which currently stands at 2,4
MobilityDec. 1, 2013
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[Photo News] Ford expansion
MobilityDec. 1, 2013
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China set for moon rover launch
BEIJING (AFP) ― China will launch its first ever moon rover mission on Monday, state media said, as Beijing embarks on the latest stage in its ambitious space program.“The Chang’e 3 is set to be launched for its moon mission from the Xichang Satellite Launch Center on Dec. 2,” state broadcaster CCTV said on its verified Twitter account on Saturday.Official news agency Xinhua also confirmed the launch date, citing officials at the satellite launch centre in Sichuan province.If successful, the lau
TechnologyDec. 1, 2013
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India says its Mars spacecraft on course
NEW DELHI (AP) ― India’s Mars orbiter mission ventured out of Earth’s sphere of influence early Sunday in an attempt to reach the red planet’s orbit after a critical maneuver.The Bangalore-based Indian Space Research Organization said the spacecraft fired its main engine for more than 20 minutes, giving it the correct velocity to leave the Earth’s orbit.“The Earth orbiting phase of the spacecraft ended. The spacecraft is now on a course to encounter Mars after a journey of about 10 months around
TechnologyDec. 1, 2013
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Smartphone app to give earthquake warning
RIO DE JANEIRO (AFP) ― A smartphone app designed to give early warning of earthquakes could be ready as early as next year, according to scientists at the World Science Forum in Rio de Janeiro. Researchers from the University of California showed off the project this week at a conference on how to use technology to ward off natural disasters. The app is based on technology used in an early warning system prepared by a team under professor Richard Allen, director of the UC Berkeley Seismological
TechnologyDec. 1, 2013