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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Seoul shares edge up 0.1 pct in late-morning trade
South Korean stocks traded 0.1 percent higher late Wednesday morning, buoyed by gains in mobile carriers and technology firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) inched up 1.94 points to 1,940.12 as of 11:20 a.m.Mobile carriers led the market gain, with leading SK Telecom increasing 3.44 percent and No. 2 player KT moving up 2.11 percent.No. 3 player LG Uplus climbed 2.87 percent.Tech blue chips also continued to trade higher, with market behemoth Samsung Elect
Feb. 6, 2013
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Seoul shares open higher on U.S. gains
South Korean stocks began higher Wednesday as investor sentiment got a boost from overnight gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.22 percent, or 4.28 points, to 1942.46 in the first 15 minutes of trading.Tech blue chips drove up the shares, with top chipmaker SK hynix increasing 0.84 percent and handset maker LG Electronics climbing 0.58 percent. Flat panel giant LG Display moved up 1.63 percent.Construction firms also traded higher, w
Feb. 6, 2013
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S. Korean won hits 18-month high to U.S. dollar in Jan.
The South Korean currency hit an 18-month high against the U.S. dollar last month following monetary easing by economic powerhouses, data showed Wednesday, sparking concern over exporters' profitability.The local currency changed hands at an average of 1,066.54 won against the greenback in January, the highest since July 2011, according to the data by the Korea Center for International Finance. Its previous monthly high against the dollar was 1,047.11 won quoted in August 2008. The won gained 8.
Feb. 6, 2013
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Samsung tops Apple in U.S. customer loyalty
A U.S. study found Wednesday that Samsung Electronics has taken the top spot from Apple in smartphones in customer loyalty and engagement. According to the Brand Keys Customer Loyalty Engagement Index, Samsung was ranked No.1 in the smartphone category recording the highest emotional engagement level with its customers.Apple came in second, followed by LG Electronics in third, Nokia and Sony tied for fourth and Motorola in fifth place, it said. Taiwanese HTC and BlackBerry maker RIM were also ne
IndustryFeb. 6, 2013
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‘Bionic man’ goes on show at British musuem
A “bionic man” costing one million dollars went on display on Tuesday at Britain’s Science Museum, complete with artificial organs, synthetic blood and robot limbs.Named Rex, which is short for “Robotic Exoskeleton,” the six foot six inch (two metre) humanoid with its uncannily life-like face was assembled by leading roboticists for a television programme.Although cheaper than the “Six Million Dollar Man” made famous by the cult 1970s television series starring Lee Majors, the technology is far
TechnologyFeb. 6, 2013
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Foreign IBs cut 2013 growth outlook for S. Korea
Major foreign investment banks' average growth outlook for the South Korean economy has been downgraded to the 2 percent range for 2013 as growth momentum remains weak amid the global downturn, a report showed Wednesday.A total of 10 investment banks forecast that Asia's fourth-largest economy will grow an average of 2.9 percent as of the end of January, down from a 3 percent estimate made in the previous month, according to a report by the Korea Center for International Finance.Their outlooks c
Feb. 6, 2013
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K-water closer to winning Thai water control project
K-water closer to winning Thai water control projectBy Seo Jee-yeonA South Korean consortium led by Korea Water Resources Corp. neared Tuesday to win Thailand’s mammoth water management project estimated to be worth around 12 trillion won (about $11 billion). K-water officials said the consortium was chosen as a priority negotiation partner for all 10 major projects to improve water resources infrastructure and to prevent flooding. Another preferred bidder for the Thai projects is ITD-Power Chin
Feb. 5, 2013
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Visitors from China overtake Japanese
Visitors from mainland China, Taiwan and Hong Kong topped tourist numbers to Korea last year, surpassing Japanese tourists for the first time, Ministry of Culture, Tourism and Sports officials said Tuesday. The number of Chinese visitors rose 27.8 percent to 3.75 million in 2012 from the previous year, while the number of Japanese visitors grew just 7 percent to 2.84 million in the same period due to the weak yen. Chinese visitors took 33.6 percent of the nation’s inbound tourism market, followe
Feb. 5, 2013
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FSS looks into big firms-suppliers trading
The nation’s financial regulator has bolstered its monitoring on conglomerates’ transactions with subcontractors amid the Korean won’s strong position against the Japanese yen.The policy of the Financial Supervisory Service reflects worries over the possibility that big firms could hand over their losses from declining exports amid weaker price competitiveness to subcontractors.In the past, conglomerates changed their settlement currency from the won to the dollar in paying for subcontractors’ p
Feb. 5, 2013
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Shares fall on nuke test woes
South Korean stocks ended 0.77 percent lower on Tuesday as investor sentiment was dented by rising concern over North Korea’s nuclear test, analysts said Tuesday. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 15.03 points to 1,938.18. Trading volume was moderate at 361.3 million shares worth 3.7 trillion won ($3.4 billion), with decliners far outpacing gainers 602 to 215. )“Rising geopolitical risks stemming from North Korea’s pledge to carr
Feb. 5, 2013
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SK Telecom net doubles in Q4
SK Telecom Co., the country’s top mobile operator, on Tuesday reported a two-fold growth in its fourth-quarter profit from a year earlier due to a decrease in marketing costs.Net profit came to 519.1 billion won ($477.5 million) in the October-December period, compared with a profit of 195.5 billion won a year earlier, SK Telecom said in a regulatory filing.Revenue rose 6 percent on-year to 4.2 trillion won, and operating profit jumped 37.6 percent to 544.6 billion won. The stronger bottom line
TechnologyFeb. 5, 2013
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French chamber to elect board members
The French-Korean Chamber of Commerce and Industry is holding an extraordinary general meeting with the new French ambassador Wednesday to elect six new members for its board of directors.The election will replace or renew the board members whose appointment terms have recently ended, the FKCCI said.It is the second time for the new French Ambassador to Korea, Jerome Pasquier, to serve at the embassy in Korea. He served as the Cultural Counselor between 1988 and 1992. Pasquier left his latest po
IndustryFeb. 5, 2013
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POSCO picked world’s most competitive steelmaker
POSCO, the nation’s top steelmaker, said Tuesday it is listed as the world’s most competitive steelmaker for 2013 in a survey of 34 world-class steelmakers, conducted by the U.S.-based steel industry analysis firm World Steel Dynamics.It is the fourth consecutive year for POSCO to be ranked first in the annual survey. The surveyor rated the companies in 23 categories, including profitability, production capability, technological innovation, financial soundless and access to raw materials. POSCO
IndustryFeb. 5, 2013
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LS Cable & System wins Danish sub cable order
LS Cable & System said Tuesday it won an order for submarine cables worth 23 billion won ($21 million) from DONG Energy, a state-run Danish wind power generation company. The company’s submarine cables will be used in an offshore wind power generation complex to be built in Westermost Rough off the southeastern coast of the U.K. by DONG Energy.It is the first time for the local cable maker to enter the European offshore wind power generation market, which is forecast to become a $30 billion indu
IndustryFeb. 5, 2013
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Fiat reenters Korea with mini car
Italy’s Fiat on Tuesday announced its reentry into the Korean market after a decade-long hiatus. And the first car to hit, of course, is the iconic mini car Fiat 500. “The wait has been too long,” said Pablo Rosso, the Korean president of Fiat-Chrysler APAC, as he opened the launching event at a Seoul hotel. “We offer a unique combination of Italian style, practical and emotional products.”The 113-year-old carmaker based in Turin, Italy, had to withdraw from the Korean market when its local manu
IndustryFeb. 5, 2013
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Services sector growth outperforms manufacturing
Korea’s services sector growth outpaced the manufacturing sector last year, another sign of a sluggish economy continuing.The manufacturing sector expanded 2.2 percent in 2012, slower than the 2.4 percent growth in the services sector, according to the Bank of Korea.This is the first time in 11 years that the services sector has grown more than manufacturing, which has traditionally been the main driver of exports, Korea’s main source of growth.Data also showed that the services sector contribut
Feb. 5, 2013
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Uniqlo faces eviction in Myeong-dong
Uniqlo, a casual apparel designer and manufacturer based in Japan, is at risk of being evicted from its Myeong-dong location, the largest site yet for the company in Asia. The Seoul District Central Court recently ruled in favor of 14 plaintiffs who have ownership over the space of Uniqlo’s Korean operations run by Fast Retailing Korea. The judge said that the building managers were found to have rented out the building to Uniqlo without consulting or notifying the plaintiffs, and therefore, the
IndustryFeb. 5, 2013
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‘Political dispute makes Mahindra balk at investment in Ssangyong’
The head of Ssangyong Motor Co. said Tuesday the automaker’s parent company Mahindra and Mahindra Ltd. balked at investing in his company due to a political dispute over labor troubles at South Korea’s smallest automaker.Lee Yoo-il, Ssangyong’s chief executive officer, told reporters that his company will hold a board of directors meeting later this month to discuss an investment decision meant to develop new vehicle models.Lee did not disclose details of the planned investment.His comment came
MobilityFeb. 5, 2013
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Things we need to be aware of when investing in Myanmar
South Korea’s National Assembly Speaker Kang Chang-hee paid a courtesy visit to the President of Myanmar, Thein Sein, recently. The two sides discussed ways to deepen the two countries’ ties, and agreed to boost a wide range of areas including cooperation in trade and politics. The visit reinforces how much South Korea values Myanmar as a strategic center for increasing opportunities for South Korean businesses. Presently, more and more Korean companies are looking to establish a presence in My
Feb. 5, 2013
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Offshore projects and trust, DSME’s key to survival
OKPO, South Gyeongsang Province ― The Daewoo Shipbuilding and Marine Engineering’s Okpo shipyard here seemed alien to the persistent global economic stagnation.The 4.3-square-kilometer yard, symbolized by its landmark goliath 900-ton crane and the world’s largest shipbuilding dock, is buzzing with ongoing construction, varying from carrier ships to ocean production and storage units.“Despite the decrease in commercial ship orders, our docks are far from being inactive,” said Park Young-kwan, bus
IndustryFeb. 5, 2013