Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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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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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Court upholds jail term for man who attempted to murder ex-girlfriend
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S. Korea to boost support for single-parent families
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Research unit considered to support emerging market entry
The government is mulling a research institution to provide the groundwork to help local companies advance into emerging markets, Finance Minister Yoon Jeung-hyun said Monday.“In order to attain sustainable growth, it is important to consolidate ties with emerging countries by establishing cooperative channels and expanding free trade agreements,” Yoon said at a policy meeting. He said there is a
April 19, 2011
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SKT claims success in tests of new telecoms technology
BUNDANG, Gyeonggi Province ― SK Telecom, the country’s top mobile carrier, tested the fourth generation telecommunications technology Long Term Evolution for the first time at its Bundang office on Tuesday.Aiming to commercialize the LTE technology in Seoul by July, the company will offer next generation telecommunications services which come with upgraded speed and picture quality.It will then ma
IndustryApril 19, 2011
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LG Display chief eyes 3-D supremacy
Kwon shows confidence in company’s 70 percent market share by year-endLG Display’s chief executive Kwon Young-soo was unperturbed by the company’s lackluster first quarter performance, saying he was certain of the global dominance by year’s end of his firm’s new 3-D panel technology, the film-type patterned retarder. “I don’t believe our goal to achieve as much as 70 percent market share in the gl
IndustryApril 19, 2011
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Samsung Engineering Q1 net jumps 74.3 pct
Samsung Engineering Co., South Korea's largest industrial plant builder, said Tuesday that its net profit jumped 74.3 percent in the first quarter from a year ago on reduced costs. Net profit came to 121.4 billion won (US$110.7 million) in the January-March period, compared with 69.6 billion won during the same period in 2010, Samsung Engineering said in a regulatory filing. Sales rose 67.1 percen
IndustryApril 19, 2011
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Samsung vows legal action over Apple's patent-infringement claim
Samsung Electronics Co. said Tuesday that it will seek legal action against Apple Inc. over the U.S. company's accusation that the maker of the Galaxy S smartphone infringed upon Apple's patents. Samsung's response comes on the heels of Apple's allegation in a complaint with a U.S. court that the Galaxy S phone and the Galaxy Tab tablet computers copied design, mobile software and other patents o
TechnologyApril 19, 2011
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S. Korea considering lowering oil taxes: minister
South Korea is considering lowering taxes on oil consumption to help ease financial burdens on low- and mid-income people from sky-high oil prices, the nation's finance minister hinted Monday."The government does not deny the need for lowering oil taxes,"Finance Minister Yoon Jeung-hyun told lawmakers. "It is taking a close look at when and how much the government should push for (tax reduction)."
April 19, 2011
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World-OKTA pledges to offer 10,000 internships in foreign countries
The largest association of overseas-based Korean business leaders put forward an ambitious vision Monday to offer overseas internship positions for 10,000 young Korean adults as it celebrated its 30th anniversary with a pledge to expand the "business territory" of their homeland. The World Federation of Overseas Korean Traders Association, or World-OKTA, also vowed to take advantage of its deep-
IndustryApril 18, 2011
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Franchisers to get leg-up in overseas expansion
South Korea is poised to lend greater support for the overseas expansion of 10 local franchise chains, including well-known names such as Mr. Pizza and Cafe Bene to help bolster service-related exports, the Ministry of Knowledge Economy said Monday. “Due to their standardized quality of products, service and stores, franchises are easy to globalize. Also, they are highly prospective exports driver
IndustryApril 18, 2011
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Bad bank may absorb toxic loans
The financial industry is expected to set up a bad bank which would specialize in disposing of toxic assets held by financial companies, amid a soaring number of bad loans caused by the prolonged property marker slump.Financial regulators reportedly called for chiefs of five major financial groups to take the initiative in dealing with bad assets in the market by holding a meeting Monday.Though th
April 18, 2011
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Nonghyup says will compensate for all losses
The National Agricultural Cooperative Federation, or Nonghyup, on Monday said it would offer full compensation for losses incurred from its recent network crash.“Our compensation will fully cover any form of damage our clients suffered in the aftermath of our network problems,” Lee Jae-gwan, a Nonghyup executive said at a press conference.The scope of compensation will include not only interest co
April 18, 2011
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KT starts cloud computing service in U.S., Germany
South Korea’s telecom titan KT Corp. said Monday that it has started offering cloud services in three cities in the United States and Germany, aiming to attract game developers and other content providers. The telecom company rolled out remote storage services that allow streaming and downloading data from online servers in New York, Los Angeles and Frankfurt, it said in a statement. The company a
TechnologyApril 18, 2011
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LG Display registers quarterly loss
Flat-panel maker LG Display incurred a second-straight quarter operating loss during the January-March period on falling panel prices triggered by dormant demand, the company said in a regulatory filing Monday. Operating deficit for the first quarter of this year stood at 239.2 billion won ($219.2 million).The figure was narrowed from 387 billion won in the fourth quarter of 2010, but industry wat
IndustryApril 18, 2011
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S. Korea not to raise FMD alert level despite new outbreak
South Korea will not raise its present foot-and-mouth disease alert level despite a fresh outbreak in the southeastern part of the country over the weekend, a government official said Monday.Deputy Farm Minister Lee Sang-kil said animals at the small farm in Yeongcheon, 344 kilometers from Seoul, were affected by the “type O” FMD virus that had devastated South Korea since November.The farm owner
IndustryApril 18, 2011
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[News Focus] Shares headed for extended rally on capital inflow
The benchmark KOSPI was expected to experience an extended rally for the next few months on a new round of capital inflows forthcoming in May, analysts said Monday amid forecasts that local stock markets would hold up well despite unfavorable external conditions. “Foreigners are expected to continue their buying spree with renewed interest in the region. May is also the time when doubts about oil
April 18, 2011
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Renault, traffic body sign road safety pact
Renault Samsung Motors Co. and the Road Traffic Authority formed a partnership to collaborate on promoting road safety for children on Monday.Under the agreement, the carmaker and the state-run organization will collaborate in educating children about traffic safety, and establish a system for cooperation and mutual support in reducing traffic accidents involving children, Renault Samsung said.The
IndustryApril 18, 2011
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Summer internship at Hyundai Motor
Hyundai Motor Co. is hiring interns for the summer.The internship is open to university students who are scheduled to graduate in February 2012.The company is receiving applications through its public relations homepage at pr.hyundai.com from Tuesday until May 2. Successful applicants will work for five weeks at the company’s local and overseas operations during the summer vacation. The company wi
IndustryApril 18, 2011
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Hyundai Heavy’s deals rise to $9.2 billion
Hyundai Heavy Industries, the world’s largest shipyard, announced Monday that it won contracts for five vessels, worth 900 billion won ($826 million), pushing up the value of contracts won, including those awarded to its subsidiary Hyundai Samho Heavy Industries Co., this year to $9.2 billion.The figure accumulated so far this year is about 46 percent of the $19.8 billion target the company has se
IndustryApril 18, 2011
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GM Korea road tests Volt electric car
GM Korea Co., the South Korean arm of U.S.-based GM, began testing its electric vehicle the Chevrolet Volt in Korea on the road on Monday.The week-long test drive will be conducted by the U.S. Embassy to Korea, with a specialist engineer from GM Korea.The vehicle will be used by the U.S. Embassy for official functions for one week until April 24. The Volt being tested by the embassy will also be u
IndustryApril 18, 2011
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SK oil refiner unit seeks mutual growth overseas
Large-scale maintenance project in Vietnam involves three SK Energy Korean subcontractorsSK Energy, the refining unit under the nation’s largest oil refiner SK Innovation, said Monday that it helped its subcontractors launch an overseas project in Vietnam as part of its efforts for promoting “shared growth.” Three partner firms ― JCon Corp., UBEC Inc and Daechang HRSG Corp. ― will carry out the re
IndustryApril 18, 2011
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Google, Twitter on Samsung fridges
Samsung Electronics Co. said Monday that it will roll out new refrigerators in the U.S. market this month with a flat screen that displays services from Twitter Inc., Google Inc. and the latest news from The Associated Press. The company will release two new side-by-side fridges with an 8-inch touchscreen that displays short-message updates from Twitter and Google as well as news and weather infor
IndustryApril 18, 2011