The Ministry of Knowledge Economy said Sunday that it will inject 13.6 billion won ($12.5 million) into securing human resources pool for energy-related fields. Under the program, the ministry said it will support higher education institutions to train energy professionals, and help their research efforts. Overall, the ministry estimates that the projects will produce 3,600 energy professionals...

Volvo Cars Korea is offering free check-ups on air conditioners and engine oil as part of its spring promotion. Available until June 11, the service will run at 12 Volvo Cars Korea service centers across the country where Volvo drivers can receive free filters on engine oil replacement on top of the free check-up. “We’re offering the service so that drivers can ready themselves for more family ...

GM Korea Co. on Tuesday revealed a Chevrolet Aveo sedan, expanding its product lines for sporty compact models. The four-door saloon version kept the same front-end design with twin headlamps and 53-centimeter alloy wheels. The compact sedan offers segment-best trunk capacity that is reportedly is biggest in size among subcompact models out in the market. The vehicle has a price range of 11.09 ...

DETROIT (AP) ― Small cars sold briskly in the U.S. last month, as gasoline prices rose and some buyers worried about shortages of Japanese-made vehicles after the March earthquake there. Analysts expected overall industry sales in the U.S. to increase 19 percent from April of last year. Don Johnson, GM’s vice president of sales and marketing, said consumers shifted into smaller cars starting in...

NEW YORK (AFP) ― Russian-American billionaire Len Blavatnik’s Access Industries won a bidding war on Friday for Warner Music Group, buying the storied music company for $3.3 billion in an all-cash transaction. The sale of Warner Music, whose artists range from current stars such as Eric Clapton and Kid Rock to legends such as Frank Sinatra and Ray Charles, comes at a challenging time for the mus...

The administration and the National Assembly have begun in earnest to reform the nation’s top financial watchdog, to cut its long-held collusive ties with financial companies it supervises. Assessing that the Financial Supervisory Service, hit by a series of corruption scandals involving its former and incumbent staff, cannot complete a self-purification drive, the Prime Minister’s Office is pus...

Korean telecom giant decides to sell its stake in Russian affiliate NTC for $346m KT Corp. said Friday that it posted 5.3 trillion won ($4.88 billion) in sales and 726.3 billion won in operating profit for this first quarter, up 6.1 percent and 61.7 percent, respectively, from a year earlier. In its quarterly report, the country’s biggest fixed-line service operator said the solid performance w...

KT Corp., South Korea's largest telecom company, said Friday that its first-quarter earnings surged 84.7 percent from one year ago. Net profit reached 555.2 billion won (US$513.6 million) in the January-March period, compared with 300.6 billion won a year earlier, it said in a regulatory filing. Sales rose 6.1 percent from one year ago to 5.3 trillion won in the quarter and operating profit inc...