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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DP leader says he will meet Yoon without conditions
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Samsung tops China’s smartphone market
HONG KONG (Yonhap news) ― Samsung Electronics Co. took the No. 1 spot in China’s smartphone market, beating Apple Inc., the maker of the hit seller iPhone, a market researcher said Monday.According to technology research firm Gartner Inc., Samsung Electronics Co. has risen as the top smartphone vendor in the world’s largest mobile phone market, grabbing a 24.3 percent market share in the fourth quarter of last year.Apple slipped to fifth place in terms of smartphones sold in China, with a 7.5 pe
March 12, 2012
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Auto exports to EU rise despite shrinking market
Korea-EU FTA helps boost car exports to Europe: ministryKorea’s auto exports to the European Union last year surged 42.8 percent from the previous year thanks to the bilateral free trade agreement, the Ministry of Knowledge Economy said Monday.Korean carmakers’ exports to the EU had declined between 2005 and 2010 as they increased overseas production and diversified export destinations. The EU passenger car market also shrank for four years in a row amid growing fiscal uncertainties in the eur
IndustryMarch 12, 2012
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Woori Financial in dilemma over whether to adopt ‘matrix’
Woori Financial Group seems to be in a dilemma over whether to introduce the “matrix” system, which connects units such as banks and brokerages.The nation’s largest financial group, which launched a study on the fresh business concept in the second half of 2011, has already completed working-level reviews.But the group has not fixed the details or timing due to strong opposition from its flagship unit Woori Bank.“There is stern criticism from the union of the bank unit toward the introduction of
March 12, 2012
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Shares sink on lingering Greece woes
Korean stocks slipped 0.78 percent Monday, as foreign investors opted to offload local shares on concerns that Greece still has a long way before coming to a resolution credible enough to stabilize the country’s debt turmoil, analysts said. The local currency lost ground against the U.S. dollar. Moving in a tight range, the benchmark Korea Composite Stock Price Index retreated 15.80 points to finish at 2,002.50.Trading volume was moderate at 362.5 million shares worth 4.54 trillion won ($ 4.05 b
March 12, 2012
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FTAs to create jobs and accelerate growth: minister
Korea should actively pursue free trade agreements with other countries to help create more jobs and spur growth as its domestic market remains relatively small, the country’s top economic policymaker said Monday.“As Korea’s domestic market size is limited, we must make the most of free trade. This is the solution to generating jobs and income,” Finance Minister Bahk Jae-wan told an international forum held in central Seoul.“The Korea-U.S. and Korea-EU FTAs can play an instrumental role in creat
March 12, 2012
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Bank dividends to foreigners top W1.4tr in 2011
Korean bank holding firms’ dividend payments to foreign shareholders surpassed 1.4 trillion won ($1.25 billion) in 2011 due largely to their strong performances, data showed Monday.Four bank holding companies and two banks listed on the main bourse paid out a combined 1.44 trillion won in dividends to foreigners last year, up 7.6 percent from a year ago, according to the data by Chaebol.com, a local tracker of large conglomerates known as chaebol here.Local lenders’ record earnings last year lar
March 12, 2012
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Income spent on food, rent at six-year high for poor
The portion of monthly expenditure that low-income households spend on food and housing hit a six-year high last year, Statistics Korea said. The Engels coefficient, which measure the portion of spending taken up by food and beverages, reached 20.7 percent last year, the highest level since 2005. The state-run agency also said that those in the lowest-income bracket devoted another 18.8 percent of their income to rent and mortgage payments last year.“Poor people are increasingly burdened by basi
March 12, 2012
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Austcham’s Sundowners looks to future
This month’s Sundowners get-together from the Australian Chamber of Commerce will double as a town hall meeting.The social gathering on Friday will offer members a chance to understand what the chamber does and how it delivers its services.Questions to be examined will be identifying the issues facing business, how the chamber can improve its services and what kind of events, forums, speakers and services should the chamber organize.The event will be held at Dominic in Itaewon from 6:30 p.m. and
March 12, 2012
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SMEs role in economy examined by KGCCI
The German chamber of commerce will discuss the role of small and medium-size businesses in the Korean economy in a dinner meeting. The speaker for the event on Thursday, Kim Ki-mun, chairman of Korea Federation of Small and Medium Business, will offer his insight on “Growth of the Korean Economy and the Role of Small and Medium Business.”To be held at the Millennium Seoul Hilton, Kim’s speech will be followed by a question and answer session. To register or for more information, contact Hana Ch
March 12, 2012
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Shindig to warm up Hong Kong 7s
The British Chamber of Commerce and HSBC Bank will hold a warm-up party ahead of the Hong Kong Sevens rugby tournament running later this month.The Hong Kong Sevens is considered the premier tournament in the International Rugby Union Sevens World Series.The local shindig will be held on Thursday at JJ Music room at the Grand Hyatt hotel. Tickets are 58,000 won for members and 68,000 won for non-members. A special discount of 10,000 won will be given to guests wearing a rugby shirt.Hong Kong Sev
March 12, 2012
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Digital marketing tools for local market
The Expert Training Club will present an overview of the nation’s digital marketing tools and usage.The aim of the event will be to explain how companies can effectively reach a target audience and build successful digital campaigns.In small groups, professional experts aim to offer insightful and practical solutions on critical topics. The event takes place on Thursday from 8:30 a.m. at the Grand Ambassador Hotel’s Board Room.The event is only open to French chamber of commerce members and cost
March 12, 2012
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EUCCK events in Seoul, Busan
The European Union chamber of Commerce offices in Seoul and Busan will hold two events this week.The Seoul office will have their monthly luncheon with Korea Customs Service Commissioner Joo Yung-sup on Thursday at the Grand Hyatt hotel’s Regency Room. Joo will discuss the customs administration’s support for Korea-European Union cooperation.Registration for the luncheon begins at 11:30 a.m. To register or for more information, email eupr@eucck.org or call (02) 725-9880. Busan’s office will hold
March 12, 2012
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AmCham meets up this week
Members of the American Chamber of Commerce will start a series of committee meetings Tuesday.The pharmaceutical committee will meet at 11:30 a.m. at the Grand Hyatt hotel to listen to John Lechleiter, chairman president and CEO of Eli Lilly Company, as he gives a speech about medical innovation and how it can lead to not only good health, but economic growth in Korea and the region.The committee said that good health is a fundamental precondition for economic development. The legal affairs comm
March 12, 2012
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Diversifying British Columbia’s Seoul operations
Perched atop the Gangnam Finance Center, Canada’s Pacific gateway office headed by Kim Kyung-suk acts as a connecting point between business leaders from Korea and Canada.The Canadian west coast province of British Columbia offers the shortest transportation routes from Korea to North America, explained Managing Director Kim of the B.C. International Trade and Investment Office.Because of its 58-hour shipping transport lead over other west coast North American ports, British Columbia has positio
March 12, 2012
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Porsche looks to sell more 4-door cars
Korea rises to 3rd in terms of new car sales of the premium sports car makerPorsche enjoyed a record year in sales driven by their non-sports models.“The great thing that happened was the Cayenne, which was introduced here in Korea in June 2010, and that hit the sweet spot of the customers here,” said Porsche president in Korea Michael Vetter.The sports car company has been in Korea since 1986 but suffered tremendously during the financial crisis that hit the country from 1997-98.In 2000, Porsch
MobilityMarch 12, 2012
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KB chief to address IIF in Bangkok
KB Financial Group chairman Euh Yoon-dae will participate in a meeting of the Institute of International Finance as a board member to discuss Asian financial issues.This meeting of the IIF, the world’s largest industry group of financial institutions, will be held in Bangkok from March 13-15.As a speaker for the third session, Euh is scheduled to deliver a speech on the “changing environments of the financial industry and risk management of financial companies.”Euh, who has 30 years of experienc
March 12, 2012
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FTAs to create jobs and accelerate growth: minister
South Korea should actively pursue free trade agreements (FTAs) with other countries to help create more jobs and spur growth as its domestic market remains relatively small, the country's top economic policymaker said Monday. "As Korea's domestic market size is limited, we must make the
March 12, 2012
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S. Korea's exports fall after FTA with EU: report
South Korea's exports to the European Union (EU) fell after the implementation of the Seoul-Brussels free trade deal due to the region's deepening debt crisis, a report showed Monday.According to the report by the Korea International Trade Association (KITA), South Korea's shipments to the EU in the
March 12, 2012
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SK to acquire Australian coal producer
SK Group said it would acquire a 40-percent stake in Australian coal producer Cockatoo Coal Ltd. which has a bituminous coal reserve that amounts to 15 times Korea’s annual imports.SK Networks and other SK affiliates plan to complete the acquisition for at least 380 billion won (about 313 million Australian dollars) within the first half of this year, SK Group said in a press release. Cockatoo runs coal mines in 13 areas in Queensland and New South Wales, the total reserve of which is estimated
IndustryMarch 12, 2012
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Herald begins upgraded news messaging service
The Korea Herald is expanding its text message service that provides up-to-date news with English learning help. The nation’s largest-circulation English newspaper has been providing “Herald Topic” since 2010 using short message service technology. The daily on Monday introduced another version of the service based on the long message service to meet user demand for more detailed news and study materials.Herald Topic has been well received by its nearly 2000 subscribers for fast, up-to-date loca
TechnologyMarch 11, 2012