Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Yoon, Lee end first talks with differences, agree to meet more
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Woman gets suspended term for injuring boyfriend with knife
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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What is Hybe’s next move?
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Samsung chief bolsters ties with Germany’s Zeiss
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Busan to hold international population conference
More than 2,500 scholars and experts from around the world will gather in Busan on Aug. 26 to share ideas and visions for the changing population and its subsequent impact on societies and economies.The event hosted by the Paris-based International Union for the Scientific Study of Population will take place at BEXCO for six days, according to organizers. More than 1,000 studies and research on emerging population issues will be presented through various sessions.“This conference is expected to
TechnologySept. 1, 2013
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S. Korea's exports grow 7.7 pct in Aug.
South Korea's trade surplus widened from a year earlier last month as the growth of its exports significantly outpaced that of its imports, the government said Sunday.In August, the country's outbound shipments came to about US$46.36 billion, up 7.7 percent from the same month last year, while its imports only inched up 0.8 percent on-year to some $41.45 billion, according to the Ministry of Trade, Industry and Energy.The country's trade surplus reached $4.91 billion, up from $2.75 billion in Au
Sept. 1, 2013
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Kumho Tire seeks to complete building suspended plant in U.S.
The head of Kumho Tire Co. has said his company is seeking to complete construction of its suspended plant in the United States, a move that could give South Korea's second-biggest tire maker a foothold in the world's second-largest auto market.Kumho Tire broke ground for its first plant in the U.S. state of Georgia in 2009, but the construction has since been stalled as creditors placed the key affiliate of Kumho Asiana Group under a debt workout scheme to help the country's 14th-biggest busine
CompaniesSept. 1, 2013
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Train collision disrupts Seoul-Busan rail traffic
Two passenger trains collided Saturday near Daegu Station disrupting rail traffic between Seoul and Busan, authorities said. The accident, which took place some 300 kilometers southeast of Seoul at 7:15 a.m., involved a KTX bullet train and a Mugungwha passenger train, Korea Railroad Corp. said, adding that no one was seriously injured or killed although some passengers suffered abrasions. All passengers were safely removed from the trains and taken by bus or taxi to nearby East Daegu Station.
IndustryAug. 31, 2013
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Decisive role for Premier Nguyen Tan Dung
As seen in recent regular press conferences in the first eight months of 2013, the Vietnamese government has pointed out that the economy is showing positive signs. A fairly stable macro economy has been achieved, inflation is under control, bank interest rates have declined, credit growth has been on a good trend, challenges in production and trading sectors have been partly resolved, industrial outputs -- particularly in the processing and manufacturing industries -- have steadily improved, e
Aug. 31, 2013
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KT secures key bandwidth for W900b
KT, Korea’s second largest mobile carrier, won the right Friday to use a key mobile bandwidth that will allow it to expand services at relatively low costs.But its success in bidding for the D2 bandwidth came at a premium, as it agreeing to pay 900 billion won ($812 million) for its use, more than three times the minimum asking price.Korea’s three major mobile carriers on Friday bid for four newly opened bandwidths – A2 and B2 in the 2.6 GHz band and C2 and D2 in the 1.8 GHz band.SK Telecom Co.
TechnologyAug. 30, 2013
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Hyundai Heavy wins $1.4b container ship order
Hyundai Heavy Industries, the world’s largest shipbuilder, on Friday signed a $1.4 billion contract with a United Arab Emirates company to build 10 mega-sized container ships, officials said.The order, which was signed in Dubai on Friday, involves the construction of 10 container ships, among which five are to be in 18,000 TEU, or 20-foot equivalent unit, sizes.The ships, once completed, will be delivered to the United Arab Shipping Company consecutively, starting from the end of next year.“With
IndustryAug. 30, 2013
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LGE signs sponsorship deal with German football club
South Korean tech giant LG Electronics Inc. said Friday that it has clinched a three-year sponsorship deal with German football club Bayer Leverkusen as part of its efforts to strengthen its sports marketing in Europe.Under the agreement, LG Electronics will be allowed to attach its corporate logos to the players’ jerseys and display its brand images on the walls of the team’s home stadium, the BayArena, said the company. The Leverkusen-based football club is one of the strongest teams in the Bu
Aug. 30, 2013
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Hyundai Motor launches new CSR program
Hyundai Motor Group said Friday that it would launch a new social contribution program called “H-Jump School” aimed at fostering creative talent and bridging the educational divide.Group officials said under the new CSR program, the conglomerate selects a group of college students and provides them with resources development education to grow into global talents. In return for receiving such benefits, the selected students are required to help poor teens study, the officials said. The conglomera
IndustryAug. 30, 2013
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Samsung SDS eyes Saudi ‘smart town’
Samsung SDS is pushing for a “smart town” project in Saudi Arabia after the Korean information technology service provider recently announced a plan to downsize its business in Korea to focus on the global market.The concept of a smart town is somewhere between a smart city and a smart building, as the buildings in the town are interconnected by information communications technology.“Samsung SDS is eyeing an ICT-based medical town in Saudi Arabia, as part of its new smart town project,” said an
IndustryAug. 30, 2013
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Overseas card spending hits record high
Korea’s total credit card spending overseas hit a record high in the second quarter of this year despite the nation’s economic slowdown, the central bank said Friday.The Bank of Korea reported that about 51 percent of total payments made between April and June were put on plastic including debit cards. Koreans spent about $2.5 billion with cards during that period. The amount increased about 1.6 percent from the first quarter. The high rate of credit card spending resulted from a change in Korea
Aug. 30, 2013
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127 cracks found in Lotte World 2 Tower: report
The 123-story Lotte World 2 Tower, a signature entertainment facility currently under construction in eastern Seoul, was found to have 127 cracks in its columns, but officials claimed that they will not affect its safety or stability.Concerns nevertheless persisted as reports submitted by the Architectural Institute of Korea and the Korea Infrastructure Safety Corporation were inconsistent with each other.SBS CNBC, a local cable broadcaster, reported Friday that the two organizations gave differ
IndustryAug. 30, 2013
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Korea requests WTO settlement of U.S. duties against washers
The South Korean government said Thursday that it has requested the World Trade Organization to begin a settlement process for the United States’ punitive duties on South Korean washing machines.“The government has relayed its request for bilateral consultation under WTO’s dispute settlement understanding clause to the U.S. side through the U.S. mission in Geneva and to the WTO Secretariat,” the Ministry of Trade, Industry and Energy said in a press release.The move came after a request from Sou
Aug. 30, 2013
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Korea’s fiscal deficit worsens in first half
Korea’s fiscal deficit widened to a record high in the first half of this year due to frontloaded spending and decreased tax revenue amid the economic slowdown, the Ministry of Strategy and Finance said Friday.The central government’s fiscal account, excluding social security funds such as pension and employment insurance, posted a deficit of 46.2 trillion won ($41.7 billion) in the first half of 2013, the worst on record.It had a deficit of about 30 trillion won a year ago, and 19.2 trillion wo
Aug. 30, 2013
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Shares hit nearly 3-month high on abating Syria woes
South Korean stocks soared to a nearly three-month high on Friday, as the prospect of a U.S.-led military attack on Syria has receded and the world’s No. 1 economy showed signs of recovery, analysts said. The local currency edged down against the U.S. dollar. The benchmark Korea Composite Stock Price Index shot up 18.82 points to finish at 1,926.36, the highest since June 10.Trading volume was moderate at 295.7 million shares worth 5.0 trillion won ($4.49 billion) with gainers outstripping decli
Aug. 30, 2013
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Samsung chief heads to Argentina for IOC meeting
Samsung Electronics chairman Lee Kun-hee left for Buenos Aires, Argentina, on Friday to attend the general meeting of the International Olympics Committee slated to open Sept. 7, company officials said. Lee is currently an IOC member.Sources said Lee would fly to the South American country after a stopover in the U.S. city of Portland.Lee’s wife Hong Ra-hee, the director of Leeum, Samsung Museum of Art, and his daughter and Hotel Shilla CEO Lee Boo-jin accompanied him on the trip.Lee was release
IndustryAug. 30, 2013
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S. Korea's industrial output shrinks 0.1 pct on-month in July
South Korea's industrial output shrank slightly on-month in July amid tough economic conditions at home and abroad, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries dropped 0.1 percent last month from a month earlier. This marked a turnaround from a revised 0.6 percent gain in June.Service sector production also contracted 0.2 percent on-month in July, but it expanded 0.8 percent compared with a
IndustryAug. 30, 2013
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Senior tax officials banned from dining, golfing with conglomerate executives
The National Tax Service announced Thursday that it would bar its senior officials from playing golf or dining out with executives of large businesses, starting later this year.Following a series of corruption scandals, tax authorities issued the ban on high-profile NTS officials on privately meeting with CEOs, executives and tax advisers of the nation’s 100 major conglomerates.The senior tax investigators that will be subject to the prohibition include officials holding positions of director ge
Aug. 29, 2013
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[Graphic News] Major countries’ financial funds and net assets
The number of Korean funds managed by local financial firms reached 9,193 as of March to become the world’s second after Luxembourg. But Korea remained far behind in net assets, taking up only 1 percent of the world’s combined value of $27.8 trillion.
Aug. 29, 2013
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KT denies rumors on chairman’s resignation
Telecom operator KT said Thursday that its chairman Lee Suk-chae has no plans to resign anytime soon, expressing concern that groundless rumors may hurt its business.A KT official denied a news report that President Park Geun-hye’s top economic adviser asked Lee, through a third party, to resign before his term ended. Lee’s tenure ends in March 2015. “Supposing this remark is true, it does not reflect KT’s view. The chairman has no plan of an early resignation,” the KT spokesman told The Korea H
IndustryAug. 29, 2013