Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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Korea unveils tax reform bill to spur economy
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Actor’s excessive airport security sparks probe into human rights violations
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Crowded public transport, long commutes top stressors for Seoul, Gyeonggi workers: survey
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Man who let his father die due to financial difficulties to be released on parole
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Actor Yoo Ah-in accused of sexual attack
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S. Korea, China shifting from tensions to cooperation: Seoul
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Retailers upbeat over Q3 business: poll
A majority of Korean retailers are optimistic about business conditions in the third quarter of the year on hopes of a rise in their sales during the summer holiday season, a poll showed Tuesday. The Korea Chamber of Commerce and Industry said its retail business index fell slightly to 119 for the July-September period from 125 for the second quarter, but it was well above the benchmark level. A r
IndustryJune 21, 2011
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Number of air passengers rises
The number of air passengers taking international flights in and out of South Korea grew about 2 percent in May from a year earlier as more holidays bolstered overseas travel, the Transportation Ministry said Tuesday.Air passengers on international flights totaled 3.32 million last month, up 2.1 percent from a year earlier, according to the data by the Ministry of Land, Transport and Maritime Affa
IndustryJune 21, 2011
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SK Group says securities unit’s fate undecided
Conglomerate denies reports on selling SK Securities to SK C&CSK Group remains undecided despite the fast-approaching deadline for complying with fair trade laws dictating that the group divest itself of stakes in SK Securities Co.On Tuesday, the group denied a Yonhap News Agency report that it had decided to sell SK Securities shares to the IT services provider SK C&C if the revised bill is not p
IndustryJune 21, 2011
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LG rolls out world’s fastest color printer
LG Electronics said on Tuesday it would roll out the world’s fastest A4 color desktop printer, able to print up to 60 pages per minute, this month.In a press conference held in downtown Seoul, the global electronics giant said it joined hands with global player Memjet to release the product “Machjet LPP6010N” in the local market.The event comes as LG Electronics is putting more weight on the print
IndustryJune 21, 2011
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Everland named one of top 10 theme parks
Samsung Everland Inc. on Tuesday said its theme park “Everland” was ranked among the global top 10 of such facilities for a fifth straight year in 2010. Everland stood at 10th place, with 6.88 million visitors according to recent figures from the Themed Entertainment Association. Everland has been included in the list of top 10 theme parks since 2006, the Seoul-based company said. In the category
IndustryJune 21, 2011
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Hyundai Motor’s sales soar in India
Hyundai Motor is enjoying rapid sales growth in India, capturing nearly 20 percent of the emerging market in May. The automaker sold 31,123 vehicles last month, up 14.6 percent from a year ago. Its market in India has reached 19.5 percent, raising the possibility of sales growth for 13 consecutive years.The figure is the highest monthly market share for this year, rising 0.2 percentage points from
June 21, 2011
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FKI chief opposes scrapping tax cut plan
Huh had secret meeting with ex-P.M. Chung over ‘profit-sharing’The head of the Federation of Korean Industries has expressed his opposition to a ruling party move to scrap the tax reduction plan.Speaking at a press conference Tuesday, FKI chairman Huh Chang-soo, who is also GS Group chairman, said he opposes the plan because he believes companies can invest more when they have the means to do so.B
June 21, 2011
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Korea, Japan bourses mull cross-trading
Korea and Japan’s bourse operators are considering cross-trading as part of efforts to strengthen their footing amid rising competition among global exchanges, an official said Tuesday.The Korea Exchange and the Tokyo Stock Exchange held the first round of working-level talks on the issue late last month, according to a ranking official at the Korea Exchange.“No concrete plan has materialized yet,
June 21, 2011
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New chief for KDB asset management
Lim Hong-yongLim Hong-yong has become the new president at KDB Asset Management Co., Ltd. Lim was selected at the annual shareholders meeting on Tuesday. Former vice president of the company Lim studied business administration at Korea University. He was previously the executive director at KDB Asset Management, an affiliate of the state-run KDB Financial Group. He also served as manager of the Pl
IndustryJune 21, 2011
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Fate of Hyundai Capital CEO depends on sanction level
The Financial Supervisory Service is poised to decide whether to order stern disciplinary measures against the CEO of Hyundai Capital for incurring cyber attacks due to allegedly negligent internal controls.As officials of the regulatory body move to fine-tune the sanction level on Hyundai Capital CEO Ted Chung, he could be banned from holding a job in the financial industry for the next few years
June 21, 2011
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Number of centenarians almost doubles in 6 years
The number of Koreans aged 100 or more has almost doubled since 2005 under the country’s improved medical services, Statistics Korea said Tuesday.The number of centenarians numbered 1,836 in November, posting a 9.1 percent increase from 961 in 2005, the state agency reported in its census report compiled every five years.The number of females in the group, 1,580, exceeded their male counterparts,
June 21, 2011
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Creditors seek to sell Daewoo Electronics to Electrolux
Creditors of Daewoo Electronics Corp. are seeking to sell the third-largest electronics firm in Korea to a Swedish company following their failed sale efforts with the initial preferred bidder from Iran, sources said Tuesday.Creditors including Korea Asset Management Corp. sealed a contract in last November with Iranian electronics firm Entekhab Industrial Group to sell their combined 97.5 percent
June 21, 2011
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Local firms’ profitability dips in Q1
Korea’s overall corporate profitability worsened in the first quarter from a year ago as oil costs rose and the local currency’s gain dented prices of export goods, the central bank said Tuesday.The average ratio of operating profit to sales, a key barometer of profitability, reached 6.3 percent in the January-March period, down from 7.2 percent from a year earlier, the Bank of Korea said in a rep
June 21, 2011
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More tariffs cut in inflation fight
Charges on imports dropped on shortage items as prices soarThe government plans to extend tariff cuts for 35 out of 46 items due to expire this month and add 14 more items to the list to ease import cost burdens on local consumers, the Finance Ministry said Tuesday.Under the plan, items such as pork, garlic, mackerel, wheat, soybean oil, sugar, and coffee will continue to enjoy lower tariffs. The
June 21, 2011
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SK firm opens online site on scholarships
SK Communications said Tuesday it has launched a website that provides scholarship information involving 63 scholarship foundations and 110 different academic funding programs.The country’s online portal, which runs Cyworld, said it would also hold a briefing session in Seoul and Busan this week at two universities to explain how students could easily access information on various scholarships ava
TechnologyJune 21, 2011
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OECD urges Korea to address inequality
Korea should implement measures against social inequality to steer sustainable growth in the post-crisis era, the Organization for Economic Cooperation and Development said Tuesday.Though the country strongly rebounded from a global economic crisis, it still faces challenges such as unemployment, income and gender inequality, low birthrate and a lack of social protection, the organization wrote in
June 21, 2011
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IT stocks unlikely to rebound until Q3
Hard-hit Samsung, LG hoping for revival with smart devicesA prolonged underperformance of IT stocks, including Samsung Electronics, seems likely to continue right up until the third quarter.Experts were upbeat about the long-term resilience of the IT sector, but said the second quarter was not going to hold up as well as previously expected.“In general, second quarter earnings will show a decline,
IndustryJune 21, 2011
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Why is a Porsche like a peacock‘s tail? And who wants to date a guy in a Honda Civic?
A Porsche 911 Black Edition is seen at the Porsche SE annual shareholders meeting in Stuttgart, Germany, on Friday, June 17, 2011. (Bloomberg-Yonhap News)Everyone knows the racier the car, the racier the hormones.Now, researchers at the University of Minnesota have brought scientific precision to that age-old observation. To wit:Sexual signalling really works _ but not necessarily the way a young
TechnologyJune 21, 2011
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Aerosol reflectors in space proposed as climate change solution
Rajendra Kumar Pachauri, Chair of the Intergovernmental Panel on Climate Change IPCC speaks during the opening of the Nansen Conference on Climate Change and Displacement in the 21st Century in Oslo Monday June 6. 2011. (AP-Yonhap News)An U.N. body plans to develop a radical geo-engineering technology to blast aerosol "mirrors" in the space to tackle climate change, the Telegraph reported.The Int
TechnologyJune 21, 2011
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Hyundai-Kia top Asian carmaker in Europe
Hyundai Motor and its affiliate Kia Motors have secured the No. 1 position in sales among Asian carmakers in the European market, outstripping Toyota Motor.According to the European Automobile Manufacturers’ Association, Hyundai-Kia sold 58,585 vehicles in 28 European countries in May, grabbing 4.7 percent of the market.Though the two affiliated companies saw their market share inch down 0.5 perce
June 20, 2011