Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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FSC to auction off halted savings banks
Authorities say about half of 85 savings banks suffer from financial difficultiesFinancial authorities are set to put debt-ridden savings banks up for auction to find preferred bidders among bigger financial companies, following a former case during the first half.As an initial step, the Financial S
Sept. 28, 2011
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Korea plans to triple food exports by 2017
Korean Finance Minister Bahk Jae-wan (left) shakes hands with his Chinese counterpart Zhang Ping at the opening of the economic ministers’ meeting in Seoul on Wednesday. (Yonhap News)The Agriculture Ministry announced on Wednesday its six-year plan to strengthen the food industry to match the soarin
Sept. 28, 2011
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LG files to ban sales of BMW, Audi cars here
Two LG affiliates have filed a lawsuit to ban BWM and Audi’s local branches from selling cars fitted with Osram-made headlamps as part of their ongoing patent battle with the lightmaker, LG Electronics said on Wednesday. LG Electronics and LG Innotek said they are together seeking the sales injuncti
IndustrySept. 28, 2011
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Weak won a major obstacle to stock gains
With fears about the eurozone debt crisis and a slower recovery of the U.S. economy weighing down investor sentiment, a recovery of the KOSPI hinges on the stabilization of the local currency, analysts said on Wednesday. (Yonhap News)The Korean stock market in the past week went through gyrati
Sept. 28, 2011
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SKC completes EVA plant in United States
SKC Inc., a South Korean industrial film maker, said Wednesday that it has completed an ethylene vinyl acetate plant in Georgia in the United States.The plant will annually produce 12,000 tons of EVA, a key component in making solar cells, raising the company’s total annual capacity of EVA to 36,000
IndustrySept. 28, 2011
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FTC to examine firms’ shared-growth efforts
The Fair Trade Commission said on Wednesday that it will start a large-scale crackdown on unfair business practices next month, especially on high commission fees at major retail companies. The nation’s antitrust regulator revealed the plan on the first anniversary of the government’s shared-growth
IndustrySept. 28, 2011
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Korea, China agree to tighten policy cooperation
Finance chiefs of Korea and China agreed to tighten policy cooperation to boost regional developments and seek solutions to social problems they share, Korea’s Finance Ministry said Wednesday. The agreement was reached during a four-hour meeting between Korean Finance Minister Bahk Jae-wan and his C
Sept. 28, 2011
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Manufacturing sentiment for Oct. hits 21-month low
Faltering U.S. economic recovery dampens business sentimentKorean manufacturers’ business confidence for October stayed at a 21-month low as debt woes in Europe and a faltering U.S. economic recovery dampened sentiment. The index of manufacturers’ outlook on business conditions stood at 86, unchange
Sept. 28, 2011
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New hall doubles KINTEX’s floor space
The second exhibition hall of the Korea International Exhibition Center, or KINTEX, in Goyang, Gyeonggi Province opened Wednesday.Minister of Knowledge Economy Choi Joong-kyung attended the opening ceremony, which doubled as the opening event of an industrial exhibition that combines six events.With
IndustrySept. 28, 2011
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SK Telecom to offer 7 phones for 4G service
SK Telecom Co., South Korea’s largest mobile operator, said Wednesday that it will offer seven smartphones and one tablet PC that use its fourth-generation network this year, to meet surging demand for video and other data-guzzling services. By December, SK Telecom aims to lure 500,000 subscribers f
TechnologySept. 28, 2011
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Daewoo International makes inroad into Australian mining
NARRABRI, Australia -- Daewoo International Corp., Korea’s leading trading company, is making fast progress in resources development in Australia.The trading firm shipped 75,000 tons of coal extracted from Narrabri, 600 kilometers northeast of Sydney, to Japan on Thursday. It was the first time Daew
IndustrySept. 28, 2011
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STX Group looks to resources, energy to support future growth
Conglomerate focuses on overseas resources as it seeks No. 7 spot among Korean business groupsSTX Group is looking to develop its energy and resource development business into a major part of its portfolio that will generate a quarter of its revenue target set for 2020.Under the “Vision 2020” plans
IndustrySept. 28, 2011
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Yuhan-Kimberly seeks innovation through ‘smart work’
Employees of Yuhan-Kimberly work at a “smart office” installed in the company headquarters. (Yuhan-Kimberly)Yuhan-Kimberly, Korea’s leading hygiene-products maker, has recently announced its new corporate slogan “Smart Work,” which aims to maximize efficiency of workplaces so that employees can bett
IndustrySept. 28, 2011
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Kyobo’s life insurance offers stable income
Kyobo Premier Variable Whole Life Insurance offers monthly annuities for families wanting a stable income stream for retirement, and protection in case of a breadwinner’s death. Launched in May, the product guarantees up to 6 million won ($5,151) per month for the family even after the subscriber di
Sept. 28, 2011
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Scientists confirm cytotoxicity of nanoparticles
A group of South Korean scientists has identified the negative effects of magnetic nanoparticles on human cells, a finding that urges the development of new nanoparticles that are safe to humans, the science ministry said Wednesday.According to the study, led by Chae Kwon-seok and Jang Yong-min, bot
TechnologySept. 28, 2011
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Apple sends out invite for iPhone event
A customer looks at the specifications for the Apple Inc. iPhone 4 using an iPad tablet during the opening of the company's new store in Le Chesnay, near Paris, France, on Saturday, Sept. 24, 2011. (Bloomberg)NEW YORK (AP) -- Apple is inviting journalists to its Cupertino, California, headquarters n
TechnologySept. 28, 2011
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Budget targets jobs, welfare
The government has proposed increasing its spending next year by 5.5 percent to 326.1 trillion won ($286.2 billion), prioritizing job creation and fiscal soundness to protect the country’s economy from ongoing debt crises abroad.The Finance Ministry said the 2012 budget plan will cut the government
Sept. 27, 2011
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16 business items selected to restrict entry of large companies
A presidential panel on shared growth released Tuesday a list of 16 business items, to which entry of large companies will be restricted. The Commission on Shared Growth for Large and Small Companies has continued discussions on 45 items since May along with local conglomerates.According to the pane
IndustrySept. 27, 2011
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Hyundai-Kia to post record exports
Hyundai Motor and Kia Motors are about to see their yearly combined exports exceed 2 million units for the first time in 2011.In particular, the Korean won’s recent depreciation against major currencies such as the dollar and the yen will likely be a favorable factor for the automakers’ coming expor
MobilitySept. 27, 2011
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Minister resigns over power cuts
Minister of Knowledge Economy Choi Joong-kyung informed the president of his intention to step down on Tuesday, the ministry said.According to the Ministry of Knowledge Economy, Choi expressed his intention to step down to President Lee Myung-bak after the cabinet meeting Tuesday morning and hand in
Sept. 27, 2011