Most Popular
-
1
Exports to US reach all-time high, widen gap with China
-
2
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
3
[Music in drama] Rekindle a love that slipped through your fingers
-
4
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
5
Inflation eases in April, continues bumpy ride
-
6
Seoul Metro to seek legal action against malicious complaints
-
7
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
8
Golden chance to liquidate babies’ gold rings?
-
9
Illit, mired in controversy, remains on Billboard charts for 5th week
-
10
On May Day, labor unions blast Yoon's foreign nanny proposal
-
Korea to transfer oil plant tech to Mexico
South Korea will transfer its technology for offshore drilling facilities to Mexico, a move that could open new opportunities for Seoul to take part in the latter’s future oil development projects, a state think tank said Wednesday.Under an agreement signed between the Korea Ocean Research & Development Institute and Mexico’s national petroleum institute IMP, KORDI will transfer its technology, including for floating drilling facilities, to the Mexican research center in the next three years.The
IndustryNov. 30, 2011
-
Petroleum product exports surge 36.4%
South Korean exports of gasoline, diesel and other petroleum products jumped 36.4 percent on-year last month on higher prices and growing overseas demand, the government said Wednesday.The country’s exports of petroleum products, in terms of volume, grew only 1.6 percent to 38.35 million barrels, but the value of its shipments jumped to $4.54 billion from $3.33 billion in the same month last year, according to the Ministry of Knowledge Economy.“Exports to other Asian countries increased with shi
IndustryNov. 30, 2011
-
STX Offshore wins W229b frigate deal
STX Offshore & Shipbuilding Co., a South Korean shipbuilder, said Wednesday that it has won a 229 billion won ($201 million) order to build two frigates.Under the deal with the Defense Acquisition Program Administration, the country’s defense procurement agency, STX Offshore will deliver the vessels by the end of 2015.South Korea is planning to build 20 new frigates by 2020 under a naval buildup project code-named “FFX.” (Yonhap News)
IndustryNov. 30, 2011
-
Korea to transfer oil plant tech to Mexico
South Korea will transfer its technology for offshore drilling facilities to Mexico, a move that could open new opportunities for Seoul to take part in the latter’s future oil development projects, a state think tank said Wednesday.Under an agreement signed between the Korea Ocean Research & Development Institute and Mexico’s national petroleum institute IMP, KORDI will transfer its technology, including for floating drilling facilities, to the Mexican research center in the next three years.The
IndustryNov. 30, 2011
-
Korea to host OECD economic forum
South Korea will host a global forum of the Organization for Economic Cooperation and Development in 2012 that will discuss ways to improve the world economy, officials said Wednesday.The OECD Forum on Knowledge Economy will be held in September 2012, involving some 300 government officials, experts and business representatives from around the world, according to the country’s Ministry of Knowledge Economy.“The 2012 forum to be held in the country will focus on industrial development of Asian co
IndustryNov. 30, 2011
-
Google's maps go indoors with new mobile feature
SAN FRANCISCO (AP) _ Google's next frontier in digital mapping will span the world's shopping malls and airports.An upgrade of Google's mobile mapping service released Tuesday includes directions within stores, malls, airports and transit centers in the U.S. and Japan.The initial index only covers a
TechnologyNov. 30, 2011
-
Prada defies financial crisis, sales up thanks to Asia
MILAN, Nov 29, 2011 (AFP) - Italy's fashion brand Prada saw sales increase 25 percent over the first nine months of the year, with Asia reconfirming itself as the main market for luxury goods, the group said Tuesday.Prada Spa, which floated on the Hong Kong stock exchange in June, announced net prof
IndustryNov. 30, 2011
-
Samsung defeats Apple-sought ban on Australia Galaxy Tab sales
Samsung Electronics won its appeal against Apple’s temporary ban on its sales of tablet PCs in Australia, increasing the possibility of a turnaround in the ongoing patent battle between the two.People walk by a Samsung store in Sydney. (AP-Yonhap News)The Federation Court of Australia on Wednesday o
TechnologyNov. 30, 2011
-
STX chief champions stability
STX Group chairman Kang Duk-soo vowed to focus on profits and stable growth to keep the conglomerate afloat amid a somber outlook for the global economy, company officials said Tuesday.Kang, who built the nation’s 12th-largest business group in terms of asset value through aggressive mergers and acquisitions of shipbuilding, shipping and heavy industries companies, announced last month that STX will not push for any large M&As after dropping its bid to buy Hynix Semiconductor. STX affiliates rec
IndustryNov. 29, 2011
-
LG chairman focuses on future growth projects
LG Group chairman Koo Bon-moo is leading the drive to nurture future growth projects as he made his trip to LG Chem’s liquid-crystal display plant in Paju, Gyeonggi Province, on Tuesday.The visit was Koo’s seventh to the group’s part-supplying affiliates’ plants as the chairman is continuing with LG’s efforts to take the lead in the global market. He visited the battery plant for electric vehicles in February, the solar wafer factory in April and the film-patterned retarder 3-D film plant in May
IndustryNov. 29, 2011
-
LGE targets 50% cut in carbon emissions in U.S.
LG Electronics Inc. said Tuesday it aims to halve its greenhouse gas emissions in the U.S. from 2007 levels by 2020 in efforts to boost renewable energy and help combat climate change.The target, which translates to 7,000 metric tons, is the latest in a string of programs adopted by the world’s No. 2 television maker to enhance its environmental credentials amid tightening regulations at home and abroad.To that end, the Korean firm plans to scale up the use of green resources such as wind and bi
IndustryNov. 29, 2011
-
Hi Mart management feud escalates
Shareholders to cast crucial vote on replacing CEO on WednesdayThe management feud between Hi Mart, the nation’s largest electronics appliance retailer, and its major shareholder Eugene Corp. was escalating Tuesday, ahead of a shareholders’ meeting scheduled for Wednesday. Amid fierce resistance from 5,000 Hi Mart employees, shareholders plan to vote on a proposal to replace CEO Sun Jong-koo, the founder and second-largest shareholder of the company. An ad-hoc committee supporting Sun to stay sa
IndustryNov. 29, 2011
-
Shares spike 2.27% on foreign buying
South Korean stocks finished 2.27 percent higher on Tuesday as foreign investors picked up tech exporters and shipyards on eurozone optimism, analysts said. The local currency climbed against the U.S. dollar. The benchmark Korea Composite Stock Price Index advanced 41.24 points to 1,856.52. Trading volume was moderate at 323 million shares worth 6.21 trillion won ($5.41 billion) with 606 gainers leading 229 losers. “Reports that the International Monetary Fund would rescue Italy and the U.S. wou
Nov. 29, 2011
-
Land owned by foreigners increases 1.2 percent in Q3
The amount of land here owned by foreigners grew 1.2 percent in the third quarter, continuing its steady growth since the country opened its real estate market to foreign investors in 1998, the government said Tuesday.As of the end of September, foreigners owned a combined 229.29 square kilometers of land in South Korea, up from the 226.52 square kilometers owned by foreigners at the end of the second quarter, according to the Ministry of Land, Transport and Maritime Affairs.Foreigners’ land own
Nov. 29, 2011
-
New TV channel targets mobile viewers
A new broadcasting station has been set up here to air its original programs exclusively for smartphone users, the channel, Sonbadak TV, said Tuesday. Sonbadak TV, named after the Korean word for “palm,” is the world’s first channel to pump out programming on a regular basis only for mobile TV viewers, it claimed. The channel plans to air live programs for four hours a day from Friday, with well-known TV celebrities such as MBC anchorman Choi Il-koo and comedian Park Myung-soo joining as show ho
IndustryNov. 29, 2011
-
Current account surplus hits 1-year high in October
South Korea’s current account surplus rose to the highest level in one year in October as exports declined on-month at a slower pace than imports, the central bank said Tuesday.The current account surplus reached $4.23 billion October, up from a revised $2.83 billion the previous month, according to the Bank of Korea.The current account is the broadest measure of cross-border trade.The October reading marked the largest surplus since $5.49 billion tallied in October last year.The current account
Nov. 29, 2011
-
Volunteer work highlights KEPCO’s social services
Volunteering has been at the core of Korea Electric Power Corp.’s efforts to fulfill its social responsibility as the nation’s sole supplier of electricity.KEPCO launched its social volunteer corps in May 2004 under the slogan “Light to the World, Love to the Neighbors” for systematic and specialized volunteer services for the underprivileged. About 19,600 KEPCO employees in 272 volunteer groups across the nation take part in a variety of programs for social contribution.The focus of their lates
IndustryNov. 29, 2011
-
Daelim to upgrade refinery in Philippines
Daelim Industrial Co., Korea’s fifth-largest builder, said Tuesday it recently won a $2 billion contract to upgrade a crude refining plant in the Philippines.Under the deal with Petron Corp., the Southeast Asian country’s largest refiner, Daelim will be in charge of engineering, procurement and construction of the factory in Limay, 150 kilometers southwest of Manila, by early 2014.When completed, the facility will be able to churn out more profitable petrol products by converting heavy distillat
IndustryNov. 29, 2011
-
Global IT gurus search for Korean partnerships
Top executives of U.S. companies make successive visits for cooperationNovember has been an especially busy month for the local IT industry with a number of IT gurus from the U.S. visiting Korea, intending to devise business plans for next year.The visits started with Eric Schmidt, chairman of Google Inc., who arrived for the second time in Seoul since 2007, followed by Qualcomm chairman Paul Jacobs and Microsoft International’s president Jean-Philippe Courtois later in the month.The government,
TechnologyNov. 29, 2011
-
Kim nominated to head life insurers’ association
Kim Gyu-bok, a former chairman & CEO of the Korea Credit Guarantee Fund, has been nominated as the only candidate for chairman of Korea Life Insurance Association.The 60-year-old, who is expected to replace the current KLIA chairman Lee Woo-chul, will be appointed to the post on Dec. 5, according to the life insurance lobby.Born in 1951 in Gimhae, South Gyeongsang Province, Kim graduated from Seoul National University and University of Pennsylvania.He had mostly served in government as a public
Nov. 29, 2011