Most Popular
-
1
Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
-
2
Doctors' group picks new leader amid tense standoff over increased enrollment quota
-
3
Seoul bus drivers go on general strike, cause morning rush hour delays
-
4
Official campaigning kicks off for April 10 elections
-
5
Dialogue hopes fade as doctors pick hard-liner as new head
-
6
Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
-
7
[Election Battlefield] Political novice to face off star politician in ‘swing district’
-
8
[Kim Seong-kon] The April 2024 election will decide our future
-
9
[Hello India] Corporate Korea sees new growth drivers in India
-
10
Seoul’s bus union prepares for strike
-
Customer service key for market competitiveness
Due to the high amount of choice customers now, delivering an ordinary customer experience is not enough to ensure customer loyalty. Companies that provide exceptional service have a strong competitive advantage. Customers are prepared to pay higher prices, make additional purchases, are more loyal and recommend the business to others. In Korea, expectations are particularly high as customers are exposed to good service in different fields. Landing in Incheon airport, for instance, has always be
MobilityApril 21, 2013
-
Toyota to make Lexus in U.S. amid localization push
Toyota Motor Corp. plans to build Lexus ES 350 sedans at an existing Kentucky plant, the first U.S. production for its luxury brand, as Chief Executive Officer Akio Toyoda pushes to localize output in its biggest markets. Toyoda and Jim Lentz, Toyota’s North American chief, said on Saturday in New York that production of the ES, the top-selling Lexus car in the U.S., starts at its Georgetown, Kentucky, complex in 2015. The company said it’s investing $360 million to add a Lexus line, expanding G
MobilityApril 21, 2013
-
Porsche rides high in China
SHANGHAI, China ― About 10,000 journalists and visitors packed the exhibition halls of the Shanghai motor show during the media preview on Saturday. And their final destination seemed to be the same building, the N1, which housed the world’s most prestigious car brands such as Porsche, Ferrari, Lamborghini and Rolls-Royce. China’s market for “premium” cars costing up to $190,000 was 1.25 million vehicles last year, second only to the United States, according to consultancy McKinsey. Even though
MobilityApril 21, 2013
-
Chinese brands hope to emulate Hyundai’s success
SHANGHAI, China ― No carmaker can afford to ignore China, which became the world’s largest car market in 2009. Brushing off fears of an economic slowdown, its auto sales set an all-time high of 19.31 million vehicles last year. And that was more than evident during the media preview day Saturday at the Shanghai auto show, which features 1,300 vehicles in 17 exhibition halls spanning 280,000 square meters. Korean carmakers also plan to showcase their new models, with which they hope to expand the
MobilityApril 21, 2013
-
Twitter rolls out app to link users with trending tunes
The micro-blogging social network site Twitter launched a service Thursday that recommends songs to users based on the artists they follow and tunes that are trending on the social network.The new service will change the way people find music,” Stephen Phillip, an official at Twitter, said in an official blog post.The application “Twitter #music” is the social media company’s first step into the music industry which provides the users with an easy-to-navigate design consisting of four different
TechnologyApril 21, 2013
-
Seoul shares likely to move in tight range next week
South Korean stocks are expected to move in a narrow range in the coming week amid concerns on poor quarterly earnings and the global economic slowdown, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed on Friday at 1,906.75, down 0.88 percent, or 17.48 points, from one week ago. Analysts anticipate that the benchmark index may move around the 1,900 level next week. They said investor sentiment could be weighed down by concerns on quarterly earnings of So
April 21, 2013
-
Kumho to make tires for electric SM3 compact
Kumho Tires said Wednesday that it will provide the nation’s first electric car-only tires for Renault Samsung Motors’ new all-electric compact SM3 Z.E. from October this year until 2018. The tire maker recently signed an agreement with the Korean unit of the France-based Renault Group to supply the SM3 Z.E. with its low-resistance tires exclusively developed for electric vehicles.Kumho also launched an electric-car tire brand, WATTRUN, pledging to ramp up efforts to take an early edge in the em
IndustryApril 20, 2013
-
Seoul shares likely to move in tight range next week
South Korean stocks are expected to move in a narrow range in the coming week amid concerns on poor quarterly earnings and the global economic slowdown, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed on Friday at 1,906.75, down 0.88 percent, or 17.48 points, from one week ago. Analysts anticipate that the benchmark index may move around the 1,900 level next week. They said investor sentiment could be weighed down by concerns on quarterly earnings of
April 20, 2013
-
It’s the journey that matters
To Koreans, Baekdu-daegan, nicknamed the “spine of the Korean Peninsula,” is not just a chain of mountains running across the country. It is also a symbol of the peninsula’s history, culture and scenery.In the early 20th century, the mountain range and the surrounding regions not only offered splendid landscapes but also supported the nation’s economic growth, with its rich volume of natural resources.However, with the decline of the timber and coal industries over the years, the area faded from
IndustryApril 19, 2013
-
Traveling down memory lane
To lure tourists to the hidden spots of the central inland regions, KORAIL launched exclusive sightseeing trains ― the “O-train,” which loops around major cities, and the “V-train” which cuts through the mountainous area of the Baekdu-daegan valleys.The O-train, which runs from Seoul through Jecheon, Yeongju and Taebaeksan Mountain, has been designed to show Korea’s seasonal landscape. The “O” refers to the train’s circular route. It allows passengers to view the landscape through a camera mount
IndustryApril 19, 2013
-
Finance chief says yen bigger issue than N.K.
South Korean Finance Minister Hyun Oh-seok said Japan’s weakening yen is hurting his country’s economy more than North Korean threats, an example of a “spillover” that merits discussion. “Japan’s economic policies are doing their part to help the world economy recover,” Hyun said Wednesday in an interview in Washington before a meeting of Group of 20 finance chiefs. “But if this causes problems, and then the problems cause new responses from partnering nations, for example a currency war, the wo
April 19, 2013
-
Korean Air chosen as Boeing’s best supplier
Boeing named Korean Air as its best supplier in the “pathfinder” category for its notable progress in manufacturing aircraft components.The world’s largest aircraft manufacturer gave the top award to Korean Air at the annual “Supplier of the Year” award ceremony held in San Diego on Thursday.Starting with wing parts for Boeing 747 in 1986, Korean Air has been producing components for Boeing’s 717, 737, 767, 777, 787 and 747-8 aircraft.Korean Air also received the award in 2001 and 2007.Boeing aw
IndustryApril 19, 2013
-
FSC vows early privatization of Woori Financial Group
Financial Services Commission chief Shin Je-yoon said the FSC will consider disclosing data on short selling positions after a case involving the largest KOSDAQ-listed firm stirred controversy over short selling.Shin also said he will “put (his) neck on the line” for the privatization of Woori Financial Group to take place early during the Park Geun-hye administration.Celltrion CEO Seo Jung-jin said Tuesday he will sell off his entire controlling stake in the nation’s largest biotech company on
April 19, 2013
-
Balanced budget unlikely till 2016
The extra budget that the government recently drew up will likely delay achieving a fiscal balance until 2016 due to increased spending coupled with less-than-expected tax revenues, a government report showed Friday.The government earlier unveiled a 17.3 trillion won ($15.4 billion) extra budget aimed at boosting the country’s slowing economic growth. This was the second largest since 2009 when it announced 28.4 trillion won in extra spending in response to the fallout from the global financial
April 19, 2013
-
LG Chem’s Q1 operating profit falls 8.5 percent
LG Chem, a leading Korean chemicals and rechargeable battery maker, said Friday that its operating profit in the first quarter of this year fell 8.5 percent to 408.9 billion won ($366.4 million) compared with the same period a year ago due to the continued minus growth in its battery business. The company said its sales and net profit also dropped 0.6 percent to 5.7 trillion won ($5.1 billion) and 10.6 percent to 340.4 billion won ($350 million), respectively.Operating profit of two other busine
IndustryApril 19, 2013
-
KB board OKs stake hike in insurance unit
The board of KB Financial Group Inc. on Friday approved the group’s move to raise its stake in its life insurance unit, making it a fully-owned unit.The board of South Korea’s No. 2 banking group said it gave the green light to the motion earlier in the day to buy the remaining 49 percent stake in KB Life Insurance Co. held by ING Group, without dissenting votes, a deal estimated at around 170 billion won ($152 million).KB Life Insurance was established in 2004 as a joint venture between Kookmin
April 19, 2013
-
Shares edge up on metal, financial gains
South Korean stocks closed 0.35 percent higher Friday, as gains from non-ferrous metals and financial firms overshadowed concerns over worsening quarterly earnings, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index added 6.69 points to finish at 1,906.75. Trading volume was moderate at 324.8 million shares worth 4.37 trillion won ($3.91 billion), but decliners outnumbered gainers 422 to 379. “Those that have dipped in the past several
April 19, 2013
-
Korea to seek port-driven logistics hubs
The Ministry of Oceans and Fisheries unveiled Friday its road map aimed at making the nation surrounded by three seas into an ocean-powered country.Reporting her ministry’s policies to President Park Geun-hye at Cheong Wa Dae, Minister Yoon Jin-sook said the ministry will promote four policy initiatives including reinforcement of sovereignty over the nation’s marine territories.The ministry also plans to upgrade ocean-related industries, cultivate marine technology-driven industries, and foster
April 19, 2013
-
POSCO chief Chung named ‘Steelmaker of the Year’
POSCO CEO Chung Joon-yang was named “Steelmaker of the Year” by the Association for Iron & Steel Technology on Thursday, company officials said. Chung will receive the award at “AISTech 2013,” a steel manufacturing technology conference, from May 6-9 in Pittsburgh, Pennsylvania. According to POSCO, Chung was selected in recognition of his dedication to safety, securing raw materials and new technologies. He has also tried to expand POSCO’s foreign presence and promote mutual growth with steel an
April 19, 2013
-
Budget carriers flocking to Korea
Singapore Airlines’ Scoot has joined the heated competition among budget carriers in Korea, announcing Tuesday that it would start the first low-cost services connecting Incheon and Singapore from June 12. Even though the company didn’t disclose its detailed pricing policy, the round-trip fares to Singapore were expected to be as much as 40 percent cheaper than other full-service carriers. “Our exceptional value airfares offer the people of Korea even more reasons to visit Taiwan, Singapore or a
IndustryApril 19, 2013