Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Sales of midsize cars in U.S. shrink as buyers go smaller
DETROIT (AP) — You can‘t drive far in the U.S. without seeing a Toyota Camry, Honda Accord or Ford Fusion.Midsize sedans have been America’s favorite cars for decades. That‘s changing. More people are choosing small cars like the Chevrolet Cruze and even smaller ones like the Honda Fit because they’re worried about gas prices and car payments. There‘s another reason, too: Small cars are no longer the cramped econoboxes of the 1980s and 1990s, and they have many of the same features as larger car
MobilityNov. 27, 2011
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S. Korean futures firms‘ earnings up 14 pct in H1
South Korean futures companies saw their earnings rise 14 percent in the first half from a year earlier, helped by increased commission income and returns from derivatives investments, the financial watchdog said Sunday.The combined net profit of seven local futures firms came to 27.7 billion won ($23.8 billion) in the April-September period, compared with 24.3 billion won in the previous year, according to the Financial Supervisory Service (FSS). The companies closed their books on March 31.The
Nov. 27, 2011
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Lexus cars recalled for faulty steering
Toyota Motor Korea Co. has recalled 3,357 Lexus ES330 and RX330 vehicles for faulty power steering pulleys that can cause safety problems for drivers, the transportation ministry said Sunday.According to the Ministry of Land, Transport and Maritime Affairs, the problems in the two models can cause the power steering system to fail or suddenly make it hard to control the handling of the car.Vehicles subject to the recall were cars made by Toyota in Japan between June 1, 2004 and March 31, 2011.Fr
MobilityNov. 27, 2011
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Daewoo E&C wins deal to build thermal power plant in Nigeria
Daewoo Engineering & Construction Co., South Korea‘s fourth-largest builder, said Sunday that it has signed a $723 million deal to set up a thermal power plant in Nigeria.The builder said the new plant will be located 65 kilometers northwest of Port Harcourt, the largest city in the West African country, and near the large OML 58 gas treatment plant. The plant will have a power generation output of 420 megawatts with construction to be completed in 34 months.Daewoo E&C will be in charge of the e
IndustryNov. 27, 2011
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POSCO outside directors join donation campaign
POSCO said Sunday its outside directors have agreed to join the steelmaker’s donation campaign to give 1 percent of their salaries to charity.Starting with POSCO executives last month, the “sharing” campaign has expanded to senior managers, executives and senior managers of its affiliates.The steelmaker decided to make donations matching the amount offered by its employees in its board meeting last month. Seven of the 12 board directors are from outside. Of the six expert panels run under the bo
IndustryNov. 27, 2011
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LG Uplus pins hopes on LTE
Telecom carrier to commercialize world’s first all-IP based networkJEJU ― LG Uplus, the nation’s third-largest telecom carrier, on Friday unveiled a plan to introduce a new high-speed network integrating voice, data and other media.“We will open a new era of telecom service, which has never been experienced thus far,” LG Uplus CEO Lee Sang-chul said during a news conference at the Ramada Plaza Jeju Hotel. The First All-IP Seamless Total Network, or FAST, enables the multiple use of telecom servi
TechnologyNov. 27, 2011
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Merger of think tanks drags on
A plan to reform the governance of state-funded research institutions by integrating 20 of them is dragging on due to opposition from the Ministry of Knowledge Economy. Under a plan by the Finance Ministry, 20 of the 27 state-funded think tanks would be merged into a single institution under the control of the National Science and Technology Commission, which allocates most of the government’s research and development budget. The rest would remain under direct control of the ministries of knowle
IndustryNov. 27, 2011
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Korean Air wraps aircraft with children’s painting
A Korean Air plane wrapped with children’s drawing depicting the country’s cultural heritage began service Saturday to promote the 2010-2012 Visit Korea Year, the flag carrier said.Two elementary school students who won first place in Korean Air’s third drawing contest had their painting wrapped around a Boeing 747-400 that operates between Gimpo and Busan.Starting with the Gimpo-Busan route, the specially decorated aircraft will promote Korean culture abroad in international routes, Korean Air
IndustryNov. 27, 2011
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Hyundai-Kia reshuffles Europe posts
Korean automaker’s move aimed at staging aggressive marketing and tackling the eurozone problemThe Hyundai Motor Group promoted division chiefs of the U.K and Middle East to country and regional head, in an HR strategy aimed at countering declining demand amid economic uncertainty in Europe. Hyundai U.K.’s managing director Tony Whitehorn on Friday was made the president and CEO of Hyundai Motor U.K., making him the first chief of the country to advance to a head-position in the history of Hyund
MobilityNov. 27, 2011
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Chae Kyoo-joo to head MTU Aero Engines Seoul office
MTU Aero Engines said it has opened a new sales office in Seoul and appointed Chae Kyoo-joo as representative for the unit. As chief of the MTU Aero Engines Seoul Representative Office, Chae will market the leading German engine manufacturer’s high-tech repair procedures. “We are excited to have attracted someone of Chae Kyoo-joo’s background and in-depth knowledge of the industry to this position. He worked as head of engineering for Korean Airlines for many years,” said Stefan Weingartner, pre
IndustryNov. 27, 2011
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‘Smart’ society the norm two years after iPhone’s arrival
“Smart” is no longer an unfamiliar word in Korea especially two years after the iPhone was introduced in the country.Since the iPhone was released on Nov. 28, 2009, unveiling what we call the smartphone for the first time, a series of smart devices ― such as tablet PCs, televisions, refrigerators and vehicles ― have been released.A number of smartphones developed by local companies Samsung Electronics and LG Electronics have also been rolling in and out of the country following the popularity of
IndustryNov. 27, 2011
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Firms’ earnings forecasts lowered
Estimated profits for local companies pushed down with deepening fiscal crises in Europe Major Korean companies’ earnings forecasts for next year are falling on rising economic uncertainties as fiscal crises deepen in Europe, with lowered credit ratings for Italy, Spain, Portugal and Belgium.France may be next as its debt ratio and government bond yields have reached alerting levels. The combined operating profit estimates of 132 listed companies dropped 8.89 percent from 134.8 trillion won ($11
IndustryNov. 27, 2011
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All eyes on Samsung’s yearend reshuffle
Speculation mounts over promotions of Lee’s childrenEyes are turning to Samsung Group’s new management lineup as the announcement is expected to take place as early as this Friday.A number of Samsung officials said the company’s reshuffling is most likely to be conducted this week, considering that the country’s top conglomerate unveiled its new lineup on Dec. 3 following its annual award ceremony last year.This year, the group plans to hold an event to name the honorary Samsung fellows on Thurs
Nov. 27, 2011
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S. Korea’s CDS premium jumps sharply on global financial woes
The cost of insuring South Korea's sovereign debt against default climbed sharply in the face of global financial sector woes, data showed Sunday.The credit default swap (CDS) premium on South Korea's foreign currency bonds with five-year maturities reached 177 basis points as of Friday on the New Y
Nov. 27, 2011
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How much crazier can Black Friday shopping get?
NEW YORK (AP) -- Pepper-sprayed customers, smash-and-grab looters and bloody scenes in the shopping aisles. How did Black Friday devolve into this?As reports of shopping-related violence rolled in this week from Los Angeles to New York, experts say a volatile mix of desperate retailers and cutthroat
Nov. 27, 2011
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NASA launches super-size rover to Mars
CAPE CANAVERAL, Florida (AP) -- A super-size rover zoomed toward Mars on an 8{-month, 354 million-mile (570 million-kilometer) journey Saturday, the biggest, best equipped robot ever sent to explore another planet.NASA's six-wheeled, one-armed wonder, Curiosity, will reach Mars next summer and use i
TechnologyNov. 27, 2011
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Seoul shares expected to move in tight range next week
South Korean shares are expected to move in a tight range next week as fiscal debt problems in Europe and the United States will continue to weigh on investor sentiment, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 1,776.40, down 3.3 percent from last week. This w
Nov. 26, 2011
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Hyundai Motor expands ties with Chinese car dealers
Hyundai Motor is broadening its ties with Chinese dealerships in an apparent judgment that China’s rapidly growing car market could decide the fate of the Korean automaker.The company has invited more than 50 dealers from China to introduce the Korean headquarters’ management philosophy and future development strategies in detail.The dealers from Beijing Hyundai Corp. are scheduled to visit a Hyundai Steel factory, an affiliate of the carmaker and participate in Korean cultural events until this
MobilityNov. 25, 2011
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Seoul moves to slap new sanctions on Iran
Ministries are in talks on putting new sanctions on Iran for its nuclear development program, likely to include a ban on petrochemicals trade. The ministries of foreign affairs, finance, and commerce, and the Financial Supervisory Commission are reviewing the level of additional sanctions on Tehran, an official said Friday. South Korean Foreign Minister Kim Sung-hwan and U.S. Secretary of State Hillary Clinton are expected to discuss the sanctions when they meet in Busan on Wednesday. “Several g
Nov. 25, 2011
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Korea downsizes Yellow Sea FEZ
The government on Friday announced a 70 percent cut in the size of the Yellow Sea Free Economic Zone as it unveils measures to rejuvenate the region’s stagnant project to court foreign investment and boost local economy.Designated in 2008, the Yellow Sea FEZ is one of the country’s six tariff-free industrial areas but has been regarded as the most infeasible. Its five districts cover 55 square kilometers in Gyeonggi Province and South Chungcheong Province.Under the plan, the government said it h
Nov. 25, 2011