Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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World Bank to open office in Korea
South Korea will sign a memorandum of understanding with the World Bank this week on the establishment of the global lending agency’s office in Seoul, the Finance Ministry said Sunday.The MOU will be signed between World Bank Group President Jim Yong Kim and Finance Minister Bahk Jae-wan during their breakfast meeting to be held in Seoul on Monday, the ministry said.Both sides will also ink a deal on the establishment of a bilateral cooperation fund and discuss ways to strengthen collaboration,
Oct. 14, 2012
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Eximbank obtains $100m from UAE
The Export-Import Bank of Korea announced Sunday that it had obtained $100 million from the National Bank of Abu Dhabi in the United Arab Emirates. Eximbank CEO Kim Yong-hwan and NBAD head Michael Tomalin signed the loan facility agreement on Friday in Tokyo, Japan. The contract was concluded in a favorable condition for Ex-Im Bank as international credit rating agencies including Moody’s and S&P recently upgraded their credit ratings for South Korea. “We were able to down the interest rate an a
Oct. 14, 2012
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Shares expected to rebound this week
South Korean stocks are expected to move upwards this week, with investors awaiting the result of the European Union’s summit scheduled for later in the week, analysts said.The benchmark Korea Composite Stock Price Index closed at 1,933.26 last week, down 3 percent from a week earlier.It sank into negative territory as the International Monetary Fund provided a gloomier outlook for South Korea, while a lackluster forecast on third-quarter performances of large caps in the U.S. weighed on investo
Oct. 14, 2012
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Woori Finance set to apply for card unit spinoff
South Korea’s top banking group Woori Finance Holdings Co. plans to apply for regulatory approval next week for the spinoff of its credit card unit, sources said Sunday.The state-run bank holding company will likely submit an application to the Financial Services Commission, the country’s financial watchdog, after next Tuesday to get the nod for the separation, according to the sources.“We have already completed preparations for the application,” said an official at Woori Finance Holdings. Once
IndustryOct. 14, 2012
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No. of credit card delinquents jumps by 30 percent
The number of delinquent card loan borrowers reached near 500,000 over the past three years in 2011 as the economic slowdown turned such lending sour, data showed Sunday.The number of credit card loan borrowers on default stood at 176,000 in 2011, up 29.2 percent from a year earlier, according to the Financial Supervisory Service.The total number of such people reached some 488,000 following the 2008 global financial crisis in 2011, leading the value of loans overdue to reach 2.51 trillion won (
Oct. 14, 2012
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Samsung Heavy to build 84 MW wind farm off coast of Jeju
Samsung Heavy Industries has won a construction order for an 84 megawatt offshore wind farm from Daejeong Offshore Wind Power Co., the company said Sunday. However, the company did not reveal the value of the deal. To build the wind farm, Samsung Heavy will construct 14 turbines with a capacity of 7 megawatts by the end of 2014 in shallow waters off the coast of the island’s Daejeong County. Commercial operations of those wind power plants will start in 2015.“The power farm on Jeju Island will b
Oct. 14, 2012
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SK Innovation targets W290tr sales by 2020
SK Innovation, the nation’s top oil refiner, has reaffirmed its goals toward becoming a technology-driven global energy company by pledging 290 trillion won ($260 billion) in sales and 14 trillion won ($12 billion) in operating profits by 2020. The company’s new growth vision was stressed by SK Group chairman Chey Tae-won in his congratulatory remarks to 2,700 employees and executives participating in a ceremony held in Daejeon on Friday. “SK Innovation, which started as the nation’s first oil
IndustryOct. 14, 2012
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SKT launches IT platform to enter ‘big data’ market
SK Telecom, one of the nation’s top three mobile communications operators, aims at penetrating the “big data market,” or numerous online responses on market products, with a new analytic platform.“Smart Insight 2.0,” the new analytic IT platform, analyzes online reviews and SNS postings such as tweets, blog postings and online news reviews, which are then processed into management information, SK Telecom said Sunday. “Online ‘big data’ gives helpful implications in numbers that are incomparable
TechnologyOct. 14, 2012
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Record wheat prices fan inflation
Starting December, Korea projected to face serious ‘agflation’Inflationary pressures are mounting in Korea amid spiking global agricultural product prices as the nation heavily depends on imports for its grain consumption.The rising possibility of “agflation,” where the rise in agricultural products leads to inflation, is due mainly to the spike in prices of wheat and corn from climate change effects in major exporters, according to the Korea Rural Economic Institute.The institute predicted that
IndustryOct. 14, 2012
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Ford board said to deliberate on Mulally successor
Ford Motor Co.’s board discussed a succession plan for chief executive officer Alan Mulally at its monthly meeting on Friday, according to a person familiar with the discussions. The board is preparing to promote Mark Fields to chief operating officer from president of the Americas as part of a plan to have him eventually succeed Mulally, said the person, who asked not to be named revealing board deliberations. Such a move would make clear the succession plan at the second-largest U.S. automaker
MobilityOct. 14, 2012
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Toyota learned of window defect before recall
Toyota Motor Corp. first learned in 2008 about a defect in power-window switches that last week prompted it to recall 7.43 million vehicles worldwide for fire hazards, according to documents filed with U.S. regulators. Toyota, based in Toyota City, Japan, received a report in September 2008 from the U.S. about “an unusual smell” from the power-window master switch and “thermal damage” to the switch, the company said in a report posted Friday on the U.S. National Highway Traffic Safety Administra
MobilityOct. 14, 2012
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Honda’s record sales led by new compacts in emerging markets
Honda Motor Co. president Takanobu Ito forecast growth over the next two to three years will be led by sales of its range of new Fit vehicles as Japan’s third- biggest automaker expands in emerging markets. “We will see the good uplifting effect from the Fit series,” Ito, 59, said Friday in an interview at his Tokyo office, where Honda’s spaceman-like Asimo robot greets visitors by name. “So around the world, I believe 2013, 2014, 2015 will be years of growth.” Ito’s focus on the Fit, a vehicle
MobilityOct. 14, 2012
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Avante challenged by new K3, SM3
Import brands set to fuel competition in compact car marketHyundai Motor’s flagship compact Avante has never lost its top-seller position in the nation’s small family car segment in the past 12 years.The Avante sold 81,256 units in the first nine months of this year, making up more than 60 percent of compact car sales here. However, the game seems to be changing in the second half of the year, as other carmakers are revving up the competition with their new models. For now, industry watchers say
MobilityOct. 14, 2012
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Scientists see volcanic eruption 'trigger'
(AP)British scientists say they have identified a repeating underground trigger for the largest explosive volcanic eruptions on Earth.Researchers from the University of Southampton have been studying the Las Canadas volcanic caldera on Tenerife in the Canary Islands, which has generated at least eight major eruptions during the last 700,000 years.These catastrophic events have created eruption col
TechnologyOct. 14, 2012
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Vitamin C may prevent bone loss
NEW YORK -- Vitamin C may protect against osteoporosis -- a disease in which the bones of the elderly become brittle and can fracture, U.S. researchers say. Dr. Mone Zaidi, director of the Mount Sinai School of Medicine Bone Program, and colleagues removed the ovaries of mice, a procedure -- ovariectomies -- known to reduce bone density, and compared them with control mice that had “sham” operati
TechnologyOct. 14, 2012
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Moriguchi's claims of iPS treatment baseless
The Yomiuri Shimbun concluded Friday that a Japanese researcher's claim that his team had successfully conducted the world's first clinical application of induced pluripotent stem cells was false and that its reports based on the man's accounts were incorrect.Hisashi Moriguchi, 48, who claimed to be a visiting lecturer at Harvard University, told The Yomiuri Shimbun that a Harvard University team
TechnologyOct. 14, 2012
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Mystery giant eyeball found on Fla. beach
(FWCC- UPI)A giant eyeball that washed up on a Florida beach this week is probably that of a large squid, wildlife experts said of the softball-size peeper.The mysterious eye washed up on Pompano Beach where it was found by a beachcomber who gave it to the Florida Fish and Wildlife Conservation Commission on Wednesday, National Geographic reported.FWCC scientists put the impressive eye on ice and
TechnologyOct. 14, 2012
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Samsung Electronics to invest $700 mln in Vietnam
Samsung Electronics Co. plans to invest $700 million into a new mobile phone factory soon to be built in Vietnam as part of efforts to expand its global production lines, company officials said Saturday.Samsung Electronics Vietnam Co. (SEV), a wholly-owned subsidiary of the world's top mobile phone maker by revenue, is weighing two locations in northern Vietnam -- a farming region of Thai Nguyen a
IndustryOct. 14, 2012
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BOK Gov. supports domestic consumption-oriented growth
TOKYO -- South Korea's top central banker said Saturday that emerging countries must beef up their domestic consumption via free trade agreements to maintain stable growth and help spur the global economy."Following the global financial crisis, the rapid growth rate in Asian and Latin American countries has played an important role in the recovery of the global economy," Bank of Korea (BOK) Gov. K
Oct. 13, 2012
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Reports: Smaller iPad to be revealed Oct. 23
Apple Inc. is set to reveal a smaller, cheaper version of the iPad at an event on Oct. 23, according to several reports published Friday.The reports from Bloomberg News, Reuters and the AllThingsD blog are based on unnamed sources with ``familiar with the plans.''Apple Inc. hasn't said anything about a smaller tablet, a concept company founder Steve Jobs derided two years ago. But company watchers
TechnologyOct. 13, 2012