Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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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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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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September job figures pick up on holiday effect
Job figures for September rose by the biggest amount in over a decade thanks to a “holiday effect,” the government said Wednesday. The number of employees in September rose by 685,000 from the same period last year to reach slightly over 25 million. The previous record-high increase had been in March 2002, when it rose by 842,000 people. The holiday effect ― Chuseok thanksgiving holidays in September were excluded from the survey ― meant that there were more working days for the month. Temporary
Oct. 10, 2012
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POSCO E&C picked as most philanthropic builder
POSCO Engineering and Construction said Wednesday that it has been picked as the most socially responsible builder in a recent survey conducted by a local think tank. The company received high points for its active overseas volunteering activities, ranking fourth across industries next to Yuhan Kimberly, Samsung Electronics and its parent company POSCO.The survey, conducted by the Institute for Industrial Policy Studies, questioned some 300 respondents living in the Seoul Metropolitan Area for o
IndustryOct. 10, 2012
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Hanwha expands philanthropic activities
Hanwha Group has launched yearly voluntary assistance activities for the underprivileged to commemorate the 60th anniversary of its foundation.“About 5,000 executives and employees from a group of business units nationwide will participate in the social contribution activities until the end of October,” Hanwha said in a statement.Under group chairman Kim Seung-youn’s initiative for social benevolence, the conglomerate has been widening the scope of philanthropic activities since 2007, according
IndustryOct. 10, 2012
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Seoul reinforces plan to help restore N. Korean forests
Over 30 percent of North’s forests devastated, need urgent recovery: KFSThe South Korean government has drawn up a proposal to help reforest the North more systematically, as forests there continue to disappear.About 2.7 million hectares of forest in North Korea ― an area about the size of Pyongyang ― has disappeared in the past 20 years. According to the 2011 State of the World’s Forests report published by the Food and Agriculture Organization of the United Nations, only 47 percent of the lan
Oct. 10, 2012
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LS Cable completes U.S. power cable plant
LS Cable & System, the world’s No. 3 cable maker, said Wednesday it has completed a power cable plant in Tarboro, North Carolina, in a bid to boost its presence in the world’s largest economy.The move comes as the company beefs up efforts to bolster its global footing by focusing on the United States, the world’s leading producer and consumer of electric power.“The completion of the plant is one of the most important moments in the 50-year history of LS Cable & System,” chairman Koo Ja-yeol said
IndustryOct. 10, 2012
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Shares down 1.56% on foreign, institutional selling
South Korean stocks slumped 1.56 percent on Wednesday as foreigners and institutions scaled back their holdings amid nagging concerns over the global economy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 30.82 points to 1,948.22, declining for the third straight session.Trading volume was moderate at 442.6 million shares worth 4.66 trillion won ($4.18 billion), with decliners outnumbering gainers 595 to 223. “With foreigners
Oct. 10, 2012
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Consumers demand refund for ‘Downy’
South Korean consumers are demanding refunds for P&G’s fabric softener Downy in which a toxic substance was allegedly detected. Consumers Korea announced on Tuesday that its research conducted from May to August showed that Downy Berry Berry and Downy Vanilla Cream made in Vietnam contained 98 milligrams of glutaraldehyde per kilogram, which is classified as poisonous by the local harmful chemical substance management law. “The substance is highly toxic, has strong disinfectant properties, and m
IndustryOct. 10, 2012
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Samsung, Google prepare to launch Nexus tablet
Samsung Electronics and Google are boosting their alliance in preparation to launch a 10.1-inch Nexus tablet PC.The new tablet will boast a display screen with a pixel density higher than on Apple’s third-generation iPad, Richard Shim, an analyst at NPD DisplaySearch, told CNET.“It’s going to be a high-end device,” Shim said, in contrast to Google’s $199 Nexus 7 and upcoming $99 tablet.Although a Samsung official declined to confirm the report, local industry sources said the process is currentl
IndustryOct. 10, 2012
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Ex-French P.M. underscores ties with Asia
New opportunities abound for further political and economic cooperation between Europe and Asia, former French Prime Minister Jean-Pierre Raffarin said in an economic forum hosted by the French Korean Chamber of Commerce and Industry on Wednesday.About 90 French and Korean business and government leadership, including French ambassador to Korea Fabrice Legerri, FKCCI chairman David-Pierre Jalicon, Incheon Free Economic Zone high officials and leading French entrepreneurs attended the forum entit
IndustryOct. 10, 2012
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STX chief discusses shipbuilding with Myanmar president
STX Group chairman Kang Duk-soo discussed business cooperation in such areas as energy development, power generation and shipbuilding with visiting Myanmarese President Thein Sein on Wednesday, company officials said. “Myanmarese President Thein Sein, who is on a three-day state visit to Korea with his delegation from Monday, had a luncheon meeting with the group’s top management in Jinhae, South Gyeongsang Province, and took a field trip to the shipyard of STX Offshore & Shipbuilding,” the grou
IndustryOct. 10, 2012
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AirAsia CEO says no plan to buy T’way
AirAsia Berhad, the Malaysia-based low-cost carrier, has no plan to acquire Korea’s budget airline T’way Air, CEO Tony Fernandes said during a press conference in Seoul on Wednesday. “There is nothing going on right now,” he said, though he added that he would “never say never.”Speculation was rising among industry people here that Asia’s largest budget carrier was considering buying the financially struggling T’way through a consortium with Korea’s Cheongju International Airport. Local airlines
IndustryOct. 10, 2012
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Chung named to post of World Steel Association
POSCO CEO Chung Joon-yang was elected as vice chairman of the World Steel Association, the international trade body for the iron and steel industry, POSCO said on Wednesday. Chung’s appointment was made by members of the board in the 2012 WSA annual conference, which was held in New Delhi from Oct. 10-11.Under the association’s rules, Chung automatically joined the three-member WSA chair group, which is composed of one chairman and two vice chairmen. The members of the chair group, each with thr
IndustryOct. 10, 2012
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Hyundai-Kia’s U.S. sales to reach 1m units
Despite eurozone crisis, Korean automakers to reach milestone for second consecutive yearHyundai Motor and Kia Motors are set to achieve 1 million units in vehicle sales in the United States for the second consecutive year.For the first time in 2011, the affiliated automakers became the fourth non-American automotive group, with yearly vehicle sales exceeding 1 million units in the U.S.While Hyundai and Kia broke the 1 million-unit mark based on sales between January and November last year, they
IndustryOct. 10, 2012
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Next-generation OLED TVs, smart devices to be showcased at electronics show
The Korea Electronics Show 2012, which will run until Friday, is showcasing a wide array of electronics goods, from next-generation televisions using the organic light-emitting diode display technology to smart home appliances and gadgets.Under the theme “What IT Will Be,” the 43rd edition of the show, which kicked off on Tuesday, is taking place at the Korea International Exhibition Center, or KINTEX, in Ilsan, Gyeonggi Province.With 600 companies participating, including Samsung Electronics an
TechnologyOct. 10, 2012
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Korean TV to go all-digital by year’s end
Korea prepares to shut down analog broadcasts by DecemberUlsan resident Kim Min-yong is not an avid television watcher, but he was surprised to find his analog TV not working when he turned it on two months ago.“All it showed on the screen were black and white lines and I couldn’t get it to work although I tried struggling with the antenna and the remote control,” he said.This is what is most likely to happen to those who fail to follow the government’s announcement that it will cease analog TV
TechnologyOct. 10, 2012
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Samsung starts Jelly Bean update for Galaxy S3 phones
Samsung Electronics Co. said Tuesday it has kicked off Jelly Bean updates for its flagship Galaxy S3 smartphones that run on the third-generation (3G) network.Following the update for the 3G model, the company plans to expand the update for the latest Android operating system version to other locally-released products, such as the Galaxy Note and the Galaxy S3 that supports fourth-generation long term evolution connection, Samsung said in a press release. (Yonhap News)
IndustryOct. 10, 2012
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S. Korea's job creation quickens in Sept.
South Korea's jobless rate inched down in September from a month earlier and job creation also quickened, raising hopes that the labor market conditions are improving, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 2.9 percent last month, down from 3 percent tallied in the previous month. The number of jobs added to payrolls also acceler
Oct. 10, 2012
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IMF slashes Korea’s growth forecast on global outlook
The Korean economy is again expected to take a beating this year on account of bleak global economic conditions. The International Monetary Fund on Tuesday lowered its forecast for Korea’s economic growth this year to 2.7 percent, down from the 3 percent it previously predicted in September. The prolonged eurozone debt crisis and lackluster performance of the U.S. economy, the organization said, were the main causes behind the revision. The IMF also slashed its projections for Korea next year to
Oct. 9, 2012
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Korea, Japan to reduce size of currency swap
Seoul cites improved external resilience and financial stability for the lapseThe country will not be renewing an expanded currency swap contract with Japan, citing Korea’s improved financial market stability, the Finance Ministry said on Tuesday. “(The two countries) have decided to let the contract lapse as scheduled after considering Korea’s improved resilience to external risks and the increased stability in domestic and international financial markets,” said Deputy Finance Minister Choi Jon
Oct. 9, 2012
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Hyundai Heavy wins $3.2b Saudi order: report
South Korea’s Hyundai Heavy Industries has won a $3.2 billion order to build a thermal power plant in Saudi Arabia for state-run Saudi Electricity, a report said Tuesday.The world’s top shipbuilder by orders will build the 2.64-gigawatt power-generating plant over the next four years in Jeddah, Dow Jones Newswires said, citing a person with knowledge of the matter.A Hyundai spokesman declined to comment on the report.Hyundai, which builds ships, heavy machinery and plants, had set a target of $2
Oct. 9, 2012