Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
Rapper jailed after public street fight with another rapper
-
4
[KH Explains] No more 'Michael' at Kakao Games
-
5
Yoon, Lee end first talks with differences, agree to meet more
-
6
Woman gets suspended term for injuring boyfriend with knife
-
7
China outpaces Korea in smaller OLED shipments for 1st time
-
8
[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
-
9
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
10
Samsung chief bolsters ties with Germany’s Zeiss
-
Most top conglomerates suffer tumble in stock market value
Nine out of South Korea's top 10 family-controlled conglomerates saw their stock market capitalizations plunge this year due to weak earnings stemming from a prolonged economic slump, data showed Sunday.The combined market value of the 90 listed companies belonging to the 10 biggest conglomerates, known as chaebol, came to 630.9 trillion won (US$567 billion) as of Friday, down 9.4 percent from the beginning of this year, according to the data by financial information provider FnGuide.During the
Aug. 25, 2013
-
Microsoft’s Steve Ballmer to step down
Microsoft CEO Steve Ballmer on Friday announced his retirement just a month after he directed a massive reorganization of the company.The 57-year-old executive said he was taking the step in “the best interest of the company I love,” according to Financial Times. He also said, “There is never a perfect time for this type of transition, but now is the right time.” The retirement is expected to be phased in over the next 12 months.Some saw the move as reflecting a fall-out between Ballmer and Micr
Aug. 24, 2013
-
Seoul shares to trade flat amid U.S. woes
Seoul shares are expected to trade almost flat next week as investors are expected to sit on the sidelines amid rising concerns over a cut in the Fed's quantitative easing, analysts said.The country's key stock index, the KOSPI, shed 2.6 percent this week to close at 1,880.71 on Friday.Earlier this week, the local stock market traded almost flat as investors awaited the July minutes of the U.S. Federal Reserve's monetary meeting, which were released on Thursday, U.S. time.The Fed's reduction of
Aug. 24, 2013
-
Hyundai Motor loses $130.3 mil. from Saturday strike
Ongoing strikes at Korea's largest carmaker is having a financial toll on the company.Hyundai Motor is estimated to have lost 145.2 billion won ($130.3 million)Saturday as its workers boycotted that day's overtime shifts, sources said.According to the sources, Hyundai Motor failed to produce 7,104 cars Saturday as its unionized workers did not show up to work for their weekend work shift.The move came after Hyundai's 46,000 union workers staged a partial strike Friday. Hyundai workers also launc
MobilityAug. 24, 2013
-
Radio communication confirms successful launch of new satellite
YASNY, Russia (Yonhap News) -- South Korea’s new multipurpose satellite made contact with a ground station in the Asian country early Friday, confirming its successful deployment into its target orbit, officials in Yasny said.The first communication contact was made at 2:35 a.m. (5:35 a.m. KST), according to the officials from the Korea Aerospace Research Institute (KARI).The Korea Multipurpose Satellite-5 (KOMPSAT-5) was launched Thursday from a launch base in Yasny, located some 1,800 kilomete
TechnologyAug. 23, 2013
-
Korea’s character market on fast growth track
Korea’s character industry is rapidly growing on the strength of the nation’s advanced information technology and rise of hallyu.The government is also promising support for the industry, mainly for the production of animated characters and their licensing.Market analysts say the character industry can be a model of future business as a company can create tremendous amounts of added value just with a popular character.There is a market consensus that the character industry will surpass 8 trillio
Aug. 23, 2013
-
More securities firms set to close down
Some stock brokerage firms have decided to close down amid a worsening business environment in the domestic market, according to financial industry sources.A few securities firms recently tendered applications for “returning their business license” to financial authorities, said a source.Citing the saturated market, the sources said the low profitability in the securities sector is somewhat attributable to the oversupply under which the number of brokerage houses comes to 62.“It is time to serio
Aug. 23, 2013
-
Breakthrough reported in flexible displays
A South Korean university research team has developed technology that could lead to mass-produced wearable computers or flexible displays. The research team, led by professor Noh Yong-young of Dongguk University, developed bar-coating technology that helps produce thin-film organic semiconductors more easily, according to a statement from the Ministry of Science, ICT & Future Planning.The technology is likely to be applied to flexible lighting and displays, as well as wearable computers such as
IndustryAug. 23, 2013
-
Korea seeks tax cut for home purchases
South Korea is expected to lower a taxation rate on home purchases regardless of multiple home ownership in a bid to boost the sagging property market, sources said Friday.The government is considering cutting the acquisition tax on houses valued at less than 600 million won ($537,100) by 1 percentage point to 1 percent, according to government sources.The tax levied on buying homes valued at more than 900 million won will also be lowered to 3 percent from the current 4 percent, while the acquis
Aug. 23, 2013
-
Korea losing ground in energy M&A market
Concerns are rising that Korea is downgrading to a minor player in the global energy M&A market as the government has yet to develop a roadmap for the nation’s overseas energy development.According to recent data by the Korea Export-Import Bank, the nation has failed to bear fruit in the global oil and gas M&A markets in the first half of this year. Not only the top two state-run energy giants ― Korea National Oil Corp. and Korea Gas Corp. ― but also leading overseas energy explorers in the priv
IndustryAug. 23, 2013
-
Biz lobby proposes building super yacht with Australia
South Korea’s largest business organization proposed that South Korea and Australia join hands to build a super yacht, an official said Friday.Lee Seung-cheol, vice chairman of the Federation of Korean Industries, made the offer during an annual meeting with his Australian counterparts under way in Melbourne, said Chung Bong-ho, an official handling business affairs at FKI.Lee said the idea of both countries jointly making inroads into the super yacht market makes sense, citing that South Korea
Aug. 23, 2013
-
Inter-Korean trade hit by industrial park suspension
South Korea’s trade with North Korea declined almost 40 percent in the first half from a year earlier, hit by the suspension of operations at a joint industrial complex in the North, data showed Friday.The value of inter-Korean trade reached $559.1 million in the January-June period, compared with $930 million in the same period last year, according to data by Statistics Korea.The sharp decline was mainly attributable to the suspended operations of the Gaeseong industrial complex in the North’s
IndustryAug. 23, 2013
-
Monthly household income grows faster in Q2
Annual growth of South Korean households‘ monthly income picked up in the second quarter from three months earlier, but their spending still remained weak, a government report showed Friday.Households’ monthly income averaged 4.04 million won ($3,608) in the April-June period, up 2.5 percent from a year earlier, according to the report by Statistics Korea. In the first quarter, household income grew 1.7 percent on-year.Inflation-adjusted household income rose 1.3 percent last quarter, quickening
Aug. 23, 2013
-
Samsung chairman Lee released from hospital
Samsung Electronics chairman Lee Kun-hee, who had been hospitalized for pneumonia, was discharged on Friday, group officials said. According to Samsung Group, Lee was discharged from the hospital in the morning and went straight home. He has been hospitalized for light pneumonia for nearly 10 days in Samsung Medical Center in southern Seoul. “The chairman was scheduled to leave hospital by the weekend but he did earlier as he has made a good recovery,” said a spokesperson for Samsung. Rumors hav
IndustryAug. 23, 2013
-
Seoul shares up 1.14 pct on recovery hope
South Korean stocks added 1.14 percent Friday, as investor sentiment buoyed on signs of improvement in advanced economies, analysts said. The local currency sharply gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) closed up 21.04 points to 1,870.16. Trading volume was moderate at 368 million shares worth 3.82 trillion won (US$3.42 billion) with gainers outpacing losers 609 to 188.Market watchers said Seoul shares recouped losses made in the previous trading
Aug. 23, 2013
-
Hyundai to set up auto parts plant in U.S. amid labor strike
Hyundai Motor Group, the world's fifth-largest carmaker, has decided to set up an auto parts plant in the United States, an official said Friday, as its unionized workers staged another partial strike over demands for higher wages and more benefits.Hyundai Dymos Inc. plans to break ground on its US$35 million plant near its sister company Kia Motors' assembly plant in Georgia in October, a Hyundai official said.Hyundai Dymos, which makes transmissions and seats for passenger cars, plans to hire
IndustryAug. 23, 2013
-
Seoul shares up 1.21 pct in late-morning trade
South Korean stocks traded 1.21 percent higher late Friday morning, as an improved outlook over the global economy boosted investors' sentiment, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) added 22.33 points to 1,871.45 as of 11:20 a.m.Blue-chip shares continued to gather ground, with market behemoth Samsung Electronics rising 2.87 percent and Hyundai Motor adding 0.22 percent. Top steelmaker POSCO added 0.47 percent.Brokerage houses also traded higher, with KDB Daewoo
Aug. 23, 2013
-
Seoul shares open higher on improved global data
South Korean stocks opened higher Friday on the back of signs of an economic recovery in China, the United States and the eurozone, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) increased 6.11 points, or 0.33 percent, to 1,855.23 in the first 15 minutes of trading.Tech shares led the market gain, with No. 1 player Samsung Electronics adding 1.35 percent and its rival LG Electronics climbing 0.57 percent. Top chipmaker SK Hynix gained 1.07 percent.Carmakers also traded hig
Aug. 23, 2013
-
Radio communication confirms successful launch of S. Korea's new satellite
South Korea's new multipurpose satellite made contact with a ground station in the Asian country early Friday, confirming its successful deployment into its target orbit, officials in Yasny said.The first communication contact was made at 2:35 a.m. (5:35 a.m. KST), according to the officials from the Korea Aerospace Research Institute (KARI). The Korea Multipurpose Satellite-5 (KOMPSAT-5) was launched Thursday from a launch base in Yasny, located some 1,800 kilometers southeast of Moscow, using
TechnologyAug. 23, 2013
-
Hyundai union to stage partial strikes again
Unionized workers at South Korea's largest carmaker Hyundai Motor Co. vowed to stage partial strikes again after they failed to narrow differences with the management over the latest dispute over wages, union officials said Friday. Union spokesman Kwon Oh-il said the 46,000-strong labor union will put down tools for eight hours each on Friday and Monday to press its demand for higher wages and more fringe benefits."The management's proposals fell short of our union's expectations," Kwon said by
IndustryAug. 22, 2013