Most Popular
-
1
Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
-
2
Yoon urges municipalities to embrace foreigners
-
3
What is happening at Hybe?
-
4
S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
-
5
Korea unveils tax reform bill to spur economy
-
6
Actor’s excessive airport security sparks probe into human rights violations
-
7
Man who let his father die due to financial difficulties to be released on parole
-
8
Actor Yoo Ah-in accused of sexual attack
-
9
S. Korea, China shifting from tensions to cooperation: Seoul
-
10
LG Electronics achieves record earnings in Q2
-
3 state firms’ CEOs face dismissal
Three are among 11 who received lowest grades in evaluationA government’s evaluation committee has called for the dismissal of the chiefs of three public corporations and institutions over their poor performance.Announcing the results of its assessment on Friday, the panel under the Finance Ministry also said the chiefs of local state-run corporations and institutions were better managers and ramp
June 17, 2011
-
LGE globally launches Optimus 3-D phone
LG Electronics on Friday marked the global launch of its “Optimus 3-D” smartphone, starting with the European markets. The Seoul-based company held a ceremony in Spain to mark the launch and plans to release its phones in 60 countries in Europe. The Optimus 3-D is a smartphone with third-dimensional functions. The phone features a 4.3-inch glasses-free 3-D display that gives users the third-dimens
IndustryJune 17, 2011
-
Seoul to expand ‘differentiated rate system’ for public services
Korea will expand the “differentiated rate system” for public services as part of its ongoing efforts to tame inflation, a senior Finance Ministry official said Friday.The differentiated rate system will be applied to such services as electricity and highway toll fees by offering diverse rates based on time, amount of usage and other factors, Vice Finance Minister Yim Jong-yong said at a weekly an
June 17, 2011
-
Scientists ID mysterious flash in distant galaxy
This artist's image provided by the University of Warwick shows a star being distorted by its close passage to a supermassive black hole at the center of a galaxy. (AP-Yonhap News)LOS ANGELES (AP) _ Astronomers think they have solved the mystery of an extraordinary flash spied in a faraway galaxy, saying it came from a massive black hole that devoured a star after it wandered too close.The awesom
TechnologyJune 17, 2011
-
Facebook users more trusting, engaged
NEW YORK (AP) -- Facebook, it turns out, isn't just a waste of time. People who use it have more close friends, get more social support and report being more politically engaged than those who don't, according to a new national study on Americans and social networks. (Bloomberg)The report comes as Facebook, Twitter and even the buttoned-up, career-oriented LinkedIn continue to engrain themselves i
TechnologyJune 17, 2011
-
Lone Star retrial delayed
The Seoul High Court delayed the trial in the case of alleged stock manipulation of the Korean unit of Lone Star Funds, the biggest shareholder of Korea Exchange Bank, to July 21.While the court held the trial on Thursday, it accepted the proposal for a delay from lawyers for Paul Yoo, former CEO of the now-defunct Lone Star Korea.In March, the Supreme Court hinted that former Lone Star Korea CEO
June 16, 2011
-
Seoul pushes for access to Swiss bank accounts
Tax agency finds 1.8 trillion won of foreign funds invested in local stocksThe National Tax Service is pushing for a discussion with Swiss tax authorities to widen the scope of information sharing needed to crack down on alleged tax dodging by overseas Koreans with bank accounts there.The agency was confirmed to have found more than 1.8 trillion won ($1.64 billion) of foreign funds invested in loc
June 16, 2011
-
Korea, China agree on efforts for FTA
Korea and China have agreed to make efforts for a bilateral free trade agreement to boost trade and further deepen economic ties, the Trade Ministry in Seoul said Thursday.The agreement came at Wednesday’s high-level talks held on Korea’s southernmost resort island of Jeju, in which both sides shared views that a bilateral free trade pact will solidify their economic and trade relations, according
June 16, 2011
-
POSCO to set up processing joint venture in China
POSCO will set up a joint venture with the Chinese steelmaker Tonghua Iron and Steel Group.According to the Korean steelmaker, it has formed an agreement with the Chinese firm to establish an automotive plate processing joint venture with an annual processing capacity of 200,000 tons.The plant will be located in a special economic development zone in Huinan Country in Jilin Province. POSCO will ho
IndustryJune 16, 2011
-
Firms’ image biggest factor in buyers’ minds
Corporate image has a major influence on local consumers who said their purchases were largely based on the image companies cultivate, according to a survey by the Korea Chamber of Commerce and Industry.More than 80 percent of those surveyed said they were influenced by corporate image when purchasing products, while only about 15 percent said they were not. Consumers also were found to hold domes
IndustryJune 16, 2011
-
Woori bid to buy U.S. lender fails
Woori Finance Holdings Co.’s deal to buy a Los Angeles-based bank has fallen through due to regulatory hurdles, sources said Thursday, casting a shadow on its ambition to strengthen its footing in the United States.In May last year, Woori Finance, Korea’s No. 2 banking group, agreed to buy a controlling stake in Hanmi Bank, the flagship of Hanmi Financial Corp., for $240 million in a bid to expand
June 16, 2011
-
Seoul shares end 1.91% lower on Greece debt woes
Korean stocks ended 1.91 percent lower on Thursday as investor sentiment was frozen by concerns about the escalating Greece debt crisis and the pace of the global recovery, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI tumbled 39.9 points to 2,046.63. Trading volume was light at 231.1 million shares worth 5.76 trillion won ($5.28 billion) with losers outpacing
June 16, 2011
-
Household loans mark biggest increase in four months
Household loans extended by Korean financial firms grew by the largest amount in four months in April on a sustained increase in home-backed lending, the central bank said Thursday.Household lending handled by local banks and non-bank institutions totaled an outstanding 606.9 trillion won ($558.2 billion) as of the end of April, up 4.6 trillion won from the previous month, according to the Bank of
June 16, 2011
-
BC Card to take overseas fee issue with Visa to FTC
BC Card Co. is upping the ante in the dispute over an overseas fee system imposed by Visa.According to industry sources, BC Card has decided to file a report with the Fair Trade Commission about Visa over the U.S.-based company’s policy of charging fees on transactions taking place outside of Korea.Visa charges a fee equal to 1 percent of the transaction amount for every time a Visa card is used i
June 16, 2011
-
Sale of Woori Financial faces bumpy road again
The financial authorities have been in trouble again in realizing the project to recoup taxpayers’ money by selling the state-controlled Woori Financial Group.Though the Financial Services Commission had said it would accept letters of intent from potential bidders for Woori Financial by June 29, sales terms seem to be unattractive to local investors.Research analysts issue the possibility that th
June 16, 2011
-
Yuhan-Kimberly named one of best workplaces in Korea
Yuhan-Kimberly, Korea’s leading hygiene products maker, has been selected as one of the most favored workplaces in the local manufacturing industry for a third straight year, a survey showed.According to the Korean Management Association Consulting, which surveyed more than 5,200 industry workers and human resources specialists, Yuhan-Kimberly came in third on the list of the best 30 manufacturers
IndustryJune 16, 2011
-
[Herald Interview] Cushman and Wakefield opens frontiers with cross-border retail
With real estate being an essential element in any business that requires stores or offices, the industry ties in to most conventional businesses.Real estate services provider Cushman and Wakefield Korea is taking that natural tie-in a step further.Since last year, the company has been supporting retailers to cross borders. “It’s split into two major sections. We’re helping to export Korean retail
IndustryJune 16, 2011
-
Foreign entrepreneurs learn to thrive in Korea
Robert Taylor, an American entrepreneur living in Seoul, clearly remembers one of his earliest attempts to pitch his life coaching services to a marketing director at a big Korean firm. “For 45 minutes, we sat there while he told me why my business wouldn’t work,” said Taylor. “He assured me that cold calling simply couldn’t succeed in Korea, because everything is based on relationships.”Fortunate
June 16, 2011
-
Lotte enters China, E-Mart retreats
Lotte opens store in Tianjin; E-Mart looking to sell outletsLotte Shopping will open its first wholly invested department store on Friday in Tianjin, China, company officials said Thursday.The country’s top retail giant said the store in Tianjin will be the third establishment built overseas, but the first operated “Korean style.”The department store, located in one of the largest cities in China,
IndustryJune 16, 2011
-
U.S. inflation slows as gas prices fall
Falling energy costs temper price rises; Americans pay more for cars, clothing and hotelsWASHINGTON (AP) ― Falling energy prices cooled overall inflation in May, offering some relief to consumers who have been coping for months with high gas prices.Consumer prices rose 0.2 percent, the smallest increase in six months, the Labor Department said. It was the first drop in energy costs in nearly a yea
IndustryJune 16, 2011