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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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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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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Xperia Arc hits stores
Xperia Arc, the newest model in Sony Ericsson’s smartphone lineup, on Friday hit nationwide SK Telecom stores at a retail price of 803,000 won ($737).Prices will vary depending on the type of call plan customers decide on, Sony Ericsson representatives said.The latest in the Xperia series was priced slightly cheaper than other smartphones released here, such as Samsung’s Galaxy S and Apple’s iPhon
IndustryApril 15, 2011
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Korean exports dominate Chile’s import market
South Korea has more best-selling products in Chile than any other country thanks mainly to a free trade agreement with the South American nation implemented seven years ago, a local trade agency said Friday.According to the state-run Korea Trade-Investment Promotion Agency, South Korea currently has 40 best-selling products out of 150 key import items of Chile. Seoul also has 29 second best-selli
April 15, 2011
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NHN, Daum accuse Google of antitrust
South Korea’s top two Internet companies asked the country’s antitrust watchdog Friday to investigate Google Inc.’s alleged practice of stifling competition in the country’s mobile search market.NHN Corp., the operator of Naver, South Korea’s most-visited Web search engine and Daum Communications Corp., the Web search runner-up, separately filed complaints against Google with the Fair Trade Commis
IndustryApril 15, 2011
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Korea to boost mineral recycling
Rising costs, demand call for nation to be self-reliant by reusing wasteSouth Korea is preparing to step up efforts to recycle minerals from used electronics and industrial waste in a bid to secure self-reliant sources of minerals on growing demand, the Ministry of Knowledge Economy said Friday.The process, termed “urban mining,” refers to reclaiming compounds and elements from products and waste
IndustryApril 15, 2011
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SMC draws patients from more nations
Its international clinic aims to be the top in world for expertise, servicesThis article the first part of a series of articles on international clinics for foreigners at medical centers in Korea. ― Ed.Samsung Medical Center’s international clinic has been praised for its latest medical techniques and for having some of the most sophisticated services. Located on the second floor of the annex buil
TechnologyApril 15, 2011
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Burger King introduces the 1,160 calorie ‘Meat Monster’ burger
(Burger King)The race to offer high calorie, gut-busting burgers continues as Burger King introduces the 1,160-calorie ‘Meat Monster’ burger in Japan, Daily Mail reported. The burger consists of two hamburgers, a chicken breast fillet, two slices of processed cheese and three slices of bacon. If the original combination isn’t enough diners can add teriyaki sauce, an egg patty and even a fish patty
April 15, 2011
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Subpanel votes down Korea-EU FTA ratification bill
South Korea's parliament subcommittee on Friday voted down the nation's free trade pact with the European Union, frustrating the ruling Grand National Party, which had hoped to get the bill through this month in order to ratify it by July as agreed upon by the two sides. After a government briefing on protective measures for local industries, the six-member legislation subcommittee of the Assembly's foreign affairs and trade committee put the trade bill to a standing vote, officials said.But th
April 15, 2011
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‘Makgeolli beats beer, wine for cancer fighting compound’
Makgeolli, Korean rice wine, contains up to 25 times more farnesol, a compound with anti-tumor properties, research showed Thursday.Farnesol is an alcohol found in a number of substances including essential oils. Research has shown that farnesol has potent anti-tumor properties even in concentrations as low as 5 milligrams per liter.In the latest research, a team led by Korea Food Research Institu
IndustryApril 14, 2011
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Daum, SK team up against Naver’s dominance
Nation’s smaller portal operators to offer combined servicesOperators of the nation’s smaller two portals Daum and Nate on Thursday signed a strategic pact to offer a seamless combination of their services.“We have decided on this strategic partnership to provide the best available services to our customers,” said Joo Hyung-chul, the chief executive of SK Communications, the operator of Nate. But
IndustryApril 14, 2011
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Korea to provide W6.5tr support for key sectors
Seoul unveils plans to foster green, high-tech industriesThe government on Thursday pledged to provide 6.5 trillion won ($5.98 billion) this year in financial support for developing new growth engine businesses. Finance, economy and industry affairs ministries reported the plan to President Lee Myung-bak. “The government will boost financial support tailored to new growth engine sectors which tend
April 14, 2011
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Renault Samsung’s new marketing chief
Renault Samsung Motors Co. appointed senior executive managing director Frederic Artaud as the new head of its Sales and Marketing Division on Thursday. Frederic ArtaudBefore the appointment Artaud had been heading the company’s marketing activities since May 2008 within the Sales and Marketing Division.The company said that Artaud was given the new post as part of its reorganization measures aime
IndustryApril 14, 2011
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Luxury sales grow 27 percent in March
Sales of luxury fashion goods at leading department stores jumped 27 percent on-year in March on retailers’ aggressive expansion and boosted marketing, the Ministry of Knowledge Economy said Thursday. Foods sales at major discount outlets and department stores also rose due to their increased demand and inflation, the ministry said. The proportion of luxury products sales at top department store c
IndustryApril 14, 2011
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Stocks hit new high on earnings hopes
Korean stocks rose 0.9 percent to a fresh high on Thursday as auto and chemical shares got a boost from optimism over their first-quarter earnings, analysts said. The local currency edged up against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 19.14 points to a new record-high close of 2,141.06. The previous record was 2,130.43 set on April 5. Trading volume was
April 14, 2011
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Builders face industry-wide credit crunch
Construction companies fear ‘chain reaction’ of bankruptciesMore mid-sized construction firms are facing business failure as their financing environment deteriorates due to soured project finance loans.Their financing opportunities, such as issuing commercial papers or corporate bonds, are increasingly becoming difficult after industry leaders such as Chinhung International and LIG Engineering & C
IndustryApril 14, 2011
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Korea to beef up safety of KTX train service
The government will recruit more tech experts and personnel in a bid to beef up the safety of its high-speed train service that has suffered a series of accidents over the past few months, the Transportation Ministry said.The ministry added that the government will operate a safety-management unit independently for the KTX high-speed train service. It will also shorten the period of replacing majo
IndustryApril 14, 2011
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Financial firms’ derivatives trading jumps 36 percent
Korean financial companies’ derivatives trading jumped 36.2 percent on-year in 2010 on increased transactions of stock-linked investment products, the financial regulator said Thursday.The total trading volume of such derivatives as bond and stock futures and options at home and abroad came to 6.7 quadrillion won ($6.1 trillion) in 2010, compared with 4.9 quadrillion won in the previous year, the
April 14, 2011
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Electronic banking safety under scrutiny
Customers of the National Agricultural Cooperative Federation, Nonghyup, have been unable to withdraw cash or use online banking services after the shutdown of the bank's computer system began around 5 p.m. on Tuesday, April 12, 2011. (Yonhap News)Authorities launch investigation into network failure of NonghyupThe prosecution and financial regulators began their investigation into the unprecedent
April 14, 2011
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Hyun named honorary Brazil counselor
Hyundai Group Chairwoman Hyun Jeong-eun has been named honorary counselor for Brazil, the company said Thursday.As a civilian counselor, Hyun said she hopes to play a critical role in facilitating exchange between the two nations during the appointment ceremony at Brazilian Counselor Edmundo Sussumu Fujita’s home in Seoul. Hyun Jeong-eun“We are seeing a surge in all sectors of trade and exchange w
IndustryApril 14, 2011
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MBC cuts off SkyLife from HD content
The terrestrial broadcaster MBC stopped providing KT SkyLife with high-definition content Thursday, as the two failed to narrow differences over fees for re-broadcasting MBC programs.KT SkyLife is a satellite broadcaster affiliated to the country’s largest fixed-line telecom services provider KT Corp.Following MBC’s move, SkyLife is now broadcasting standard-definition MBC programs for its 620,000
IndustryApril 14, 2011
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Telecoms irked by free text plan
Regulator under fire for not consulting industry playersThe government’s latest hints that it might try to offer text messaging for free were met with fierce protests from local telecom operators, according to industry watchers. KT Corp., SK Telecom and LG Uplus all appeared to be upset by recent remarks from Choi See-joong, chairman of the Korea Communications Commission, who told lawmakers Wedne
IndustryApril 14, 2011