Most Popular
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Pyongyang erects blockades along inter-Korean railways
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Blackpink's Rose and Bruno Mars' 'APT' sparks surge in related stocks
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FT Island's Choi Min-hwan under investigation for allegedly soliciting prostitution
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[From the Scene] How robotics reflect shift in S. Korea's food industry
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Opposition slams Yoon's suggestion to send offensive weapons to Ukraine
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[Exclusive] Korean adoptee sisters meet for the first time in 39 years
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Yoon calls for measures to protect Koreans amid escalating Iran-Israel conflicts
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Korea to regulate cross-border trading of crypto
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N. Korea says troop dispatch to Russia, if true, falls in line with int'l law
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N. Korea slams Seoul-Washington joint air exercise
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Korean currency could grow stronger
Won hits fresh 3-year high on U.S. debt crisis, recording 1,050 against dollarThe won hit a near 3-year high Wednesday, one of a basket of currencies strengthening against the U.S. dollar on jitters Washington may fail to agree on raising its debt ceiling.Investors unloaded dollars on fears of a possible U.S. debt default and sent the won to 1,049.10 by mid-day, its strongest level since September
July 27, 2011
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Major firms to increase payrolls in H2: poll
Major South Korean companies are set to recruit more employees in the second half of the year than a year earlier as the economy is on a solid growth path, a poll said Wednesday.According to the joint survey by the Korea Chamber of Commerce and Industry and Incruit, a local online job placement portal, 338 companies plan to hire a combined 17,361 employees in the July-December period, up 1.7 perce
July 27, 2011
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Banks face harsher stress tests on forex liquidity
South Korea’s top regulator said Wednesday that the watchdog plans to conduct stricter stress tests on local banks’ foreign currency liquidity conditions in a bid to shield the country from a potential financial crisis.Financial Supervisory Service Gov. Kwon Hyouk-se said the financial watchdog plans to make stress tests based on the second-quarter FX liquidity data by taking into account various
July 27, 2011
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Sulwhasoo targets Chinese women
Amore Pacific, Korea’ top cosmetics maker, is now targeting the fast-growing Chinese market, devising a premium positioning strategy with its high-end herbal medicine cosmetics brand Sulwhasoo.After successfully entering the markets in Hong Kong in 2004 and the U.S. in 2010, the brand Sulwhasoo made its Chinese debut this year. An advertisement for Sulwhasoo at Shin Kong Palace, a Beijing departm
IndustryJuly 27, 2011
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Amore Pacific creates beauty with herbal medicine
Premium brand Sulwhasoo realizes 66 years of research effortsAmore Pacific, Korea’s top beauty company, officially launched its high-end herbal medicine cosmetics brand Sulwhasoo in Beijing on June 22. With about 100 journalists and industry people in China and Hong Kong in attendance, CEO and president Suh Kyung-bae expressed strong confidence about the brand’s success in Asia as well as in China
IndustryJuly 27, 2011
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WTO’s Lamy sees paralysis in global trade talks
IndustryJuly 27, 2011
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Ford, Chrysler take Q2 hit to position for growth
DEARBORN, Michigan (AP) ― Ford’s ambitious plans to grow in Asia took a toll on its second-quarter profit, with higher costs to design and sell cars offsetting rising sales.The company’s net income fell 8 percent to $2.4 billion for the April-June period. Ford blamed higher prices for steel and other commodities, but also said that after years of restructuring, the company is strong enough to spen
IndustryJuly 27, 2011
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S&P sees second Greek debt haircut: report
IndustryJuly 27, 2011
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Watchdog panelist slammed for blog photos of genitals
By Cho Ji-hyunControversy is escalating over whether it was appropriate for a member of a media watchdog to post photos that some argue are “sexually offensive” on his personal blog.Last Wednesday, Park Kyung-sin, one of the nine commissioners at the Korea Communications Standards Commission, posted screen-grabs of photos of multiple male genitals published on other blogs on his own site, asking v
July 27, 2011
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LG Electronics narrows handsets loss in Q2
LG Electronics Inc., the world's third-largest mobile phone makers, said Wednesday that its second-quarter operating profit rose 25 percent from one year earlier, as its newly released smartphones helped the company narrow losses in the mobile business. Operating profit reached 158.2 billion won (US$150.9 million) in the April-June period, compared with an operating profit of126.2 billion won a ye
IndustryJuly 27, 2011
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US: Wealth gap widens between whites, minorities
WASHINGTON (AP) _ The wealth gaps between whites and minorities in the United States have grown to their widest levels since the U.S. government began tabulating them a quarter-century ago. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census da
July 27, 2011
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Belgium UFO that puzzled NASA was polystyrene fake
BRUSSELS (AFP)— An unidentified flying object photographed high in the Belgian sky that puzzled even NASA scientists turns out to have been a fake made out of foam, the man behind the hoax said Tuesday.Though scientists pored over the picture of a triangular-shaped flying saucer with four lights, allegedly photographed in April 1990 by a young worker, the mystery remained intact until the man's re
TechnologyJuly 27, 2011
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Monday blues: why we can’t smile on Monday
A new study suggests most people struggle to crack a smile until 11:16 a.m. on Mondays after a long weekend, the Telegraph reported.Due to Monday blues, people only manage to perform three and a half hours of productive work, according to the study by Marmite.Particularly, those aged between 45 and 54 are likely to suffer most and moan for around 12 minutes, the study said.Moreover, the experts po
TechnologyJuly 27, 2011
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Kirk confident of September passage of FTAs
The top U.S. trade official predicted confidently Tuesday that Congress will pass free trade agreements (FTAs) with South Korea, Colombia and Panama in September.In a speech at a Bretton Woods Committee meeting, U.S. Trade Representative Ron Kirk said a "framework" for a deal on the controversial Trade Adjustment Assistance (TAA) is already in place.President Barack Obama is pushing to renew the w
July 27, 2011
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S. Korean economy grows 0.8 pct on-quarter in Q2
The South Korean economy grew at the slowest pace in six months in the second quarter as export gains sharply eased amid global economic uncertainty, the central bank said Wednesday.Asia's fourth-largest economy grew 0.8 percent in the April-June period, down from a 1.3 percent on-quarter expansion tallied in the first quarter, according to an advance estimate of the Bank of Korea (BOK). The count
July 27, 2011
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August hike puts electricity prices up 4.9%
Tariff raise eases cost burden for KEPCO, complicates inflation fightThe government announced Tuesday it will raise electricity tariffs by an average 4.9 percent starting August to reflect rising energy costs even as inflation remains high.The Economy Ministry said electricity bills will rise 6.1 percent for industrial use but said the raise for home use will only be 2 percent. Finance Minister Ba
July 26, 2011
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U.S. unlikely to pass Korea FTA in August: minister
The Korea-U.S. Free Trade Agreement is unlikely to be passed by the U.S. Congress in August, Korean Trade Minister Kim Jong-hoon said Monday.Kim said that the negotiations for raising the U.S. government debt-ceiling, and difficulties surrounding the process, have taken center stage making it unlikely that the trade pact with Korea will be processed within the next month. Korean Trade Minister Kim
July 26, 2011
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Kumho Petrochemical to invest W880b in Yeosu
Korea Kumho Petrochemical Co. and its three subsidiaries plan to spend 880 billion won ($837 million) by 2014 to scale up their production lines in Yeosu, South Jeolla Province the companies said Tuesday.The deal reflects the firms’ efforts to meet surging demand for their materials, which are used in automobiles and consumer electronics. When completed, Kumho Petrochemical will be able to churn o
IndustryJuly 26, 2011
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LGE receives U.S. certification for slashing carbon emissions
LG Electronics has received certification from the U.S. for producing carbon-free goods. making headway in the field of environmentally friendly technology, said the Seoul-based company on Tuesday.The certification was from Carbon Fund, one of the leading institutes in the U.S. that provides certification for carbon-free products. LG Electronics is the first Korean company to receive the credentia
IndustryJuly 26, 2011
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Seoul to support M&As among brokerage firms
FSC to benchmark U.S. tolaunch another stock exchangeThe financial authorities have moved again to establish a Korean version of Goldman Sachs and launch another stock exchange in the local securities market.Though Korea had pushed ahead with the project to set up several big investment banks, the 2008 global financial crisis discouraged the nation from promoting mergers and acquisitions among bi
July 26, 2011