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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Official campaigning kicks off for April 10 elections
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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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Yellow dust engulfs S. Korea, advisory alert issued
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Kia EV9 wins world car of year
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Lee Jong-sup resigns as envoy to Australia
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Korea misses out on global bond index boost
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LG Electronics accused of breaching Sony TV patents
LG Electronics Inc. was accused in two lawsuits by Sony Corp. of infringing eight patents for technology used in liquid-crystal display televisions and monitors.Sony filed two new complaints, each listing four patents, yesterday in federal court in Los Angeles. The Tokyo-based electronics maker said LG’s 32LD350 LCD television and E2360V LCD monitor are among the products that infringe its technol
IndustryFeb. 10, 2011
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Refiners’ profit margins not small: minister
New Minister of Knowledge Economy Choi Joong-kyung Thursday reaffirmed the government’s intent to intervene in the local refining market to contain the recent petrol price hike.“The profit margins of local oil companies are 3 percent, even after giving out salaries. Considering that they do not have many other costs, the figure is not at all small compared to those of other manufacture industries,
Feb. 10, 2011
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Home appliances getting darker
Black, colored appliances in vogue as customers get style-consciousKim Hye-in, a soon-to-be bride, still faces a myriad of decisions as she prepares for her upcoming wedding, but she is quite firm on one point: no white or pastel appliances. “That’s why I chose black as my color scheme for the appliances I will be buying for our place,” said Kim, who was browsing Hi-Mart, a local electronics retai
IndustryFeb. 10, 2011
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Obama to send South Korea trade deal to Congress
President Barack Obama plans to send the U.S.-South Korea free trade agreement to Congress in the next few weeks, but ``serious issues'' are holding up deals with Colombia and Panama, his top trade official said Wednesday.U.S. Trade Representative Ron Kirk told the House Ways and Means Committee that Obama hopes Congress will approve the South Korean pact this spring. The administration says that
Feb. 10, 2011
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Woori draws 4 candidates for chairmanship
Woori Finance Holdings Co., Korea's top financial group, drew four candidates for its chairmanship, including the current chairman deemed highly likely to serve another term, financial sources said Wednesday.Woori Finance Chairman Lee Pal-seung applied for the top post and is seen as the most powerful candidate for the chairmanship amid ongoing government efforts to put the company in private hand
Feb. 9, 2011
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Deutsche Bank brokerage unit faces suspension
The financial authority is poised to ask the prosecution to investigate Deutsche Bank AG and suspend part of businesses of the investment bank’s securities unit in Seoul for their alleged manipulation of stock prices, sources said Wednesday.According to several regulatory officials, Deutsche Bank’s brokerage unit in Seoul may face business suspension for “six months” ― the highest administrative s
Feb. 9, 2011
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Extraordinary eurozone summit in March
BRUSSELS (AFP) ― Leaders of the 17-nation eurozone are to hold a special summit in mid-March to draft a plan of action to avoid a replay of the debt crises that shook the single currency last year.The 17 heads of state and government will meet in “mid-March,” the president of the European Union, Herman Van Rompuy, said in a speech to the European parliament.Earlier a source close to the talks told AFP that the eurozone summit had been agreed for Sunday, March 13. But a major member state later i
IndustryFeb. 9, 2011
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FSC to be tougher on credit card firms
The Financial Services Commission unveiled a comprehensive package to curb excessive competition among credit card companies on Wednesday, a precautionary measure to prevent another liquidity crunch amid growing risks of reckless card and loan issuance. The financial regulator said it plans to induce issuers to offer reasonable supplementary services that would not harm their profitability and con
Feb. 9, 2011
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Samsung may supply ...display panels for iPad 2
Samsung Mobile Display is reportedly poised to supply liquid-crystal display panels for the next version of Apple’s iPad, industry sources said on Wednesday.According to sources, the company, established in January 2009, is in the final stage of talks on supplying its latest LCD panels for Apple’s iPad 2, which is expected to be released later this year.In response to such reports, a spokesman at
IndustryFeb. 9, 2011
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GM Daewoo unveils first Chevy model
GM Daewoo Auto and Technology Co. unveiled the Orlando multipurpose vehicle Wednesday. The vehicle will go on sale here on March 2.Out of the eight new models the automaker plans to launch in the local market this year, the Orlando will be the first model produced by GM Daewoo to be sold under the Chevrolet brand in Korea. In January, the company announced plans to change its name to GM Korea Co.
IndustryFeb. 9, 2011
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Seoul petrol prices hit 30-month high
Policymakers, refiners argue over whether the cause is tax or profit marginsThe average price of regular unleaded gasoline in Seoul broke through the 2,000-won level for the first time in more than 30 months on Wednesday, despite the government’s recent efforts to control the country’s rising fuel prices.According to state-run Korea National Oil Corp., the price of regular unleaded gasoline on Tue
Feb. 9, 2011
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Prediction split on key rate setting
Analysts’ views were mixed on the prospect of an interest rate hike ahead of the monetary policy committee’s monthly meeting for benchmark interest rate-setting slated for Friday. This reflects the Bank of Korea’s dilemma of containing rising prices while keeping growth on track. Inflation driven by fresh food prices and commodities abroad is pressuring the central bank to raise the key rate for t
Feb. 9, 2011
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Hyundai Motor seeks cooperation from group steel unit for fuel-economy goal
Hyundai Motor Co., drawing on ties to Hyundai Steel Co., plans to more than double the proportion of high-strength steel used in its vehicles by 2015 as the carmaker seeks higher fuel efficiency and lower weight across its lineup. By using advanced forms of the metal that match or exceed other Korean and Japanese steelmakers’ alloys in cost and performance, Hyundai Motor will raise the ratio of hi
IndustryFeb. 9, 2011
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Manpower: World is entering ‘Human Age’
Manpower Inc., U.S.-based employment agency, said on Jan. 27 at the World Economic Forum in Davos, Switzerland, that the world had entered a new era: The Human Age. The concept was introduced by Manpower CEO Jeffrey Joerres in his presentation “Entering the Human Age –- unleashing and leveraging human potential in the new reality” at the forum. Manpower says this new age has significant implicatio
IndustryFeb. 9, 2011
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Banking groups brace for leadership change
Woori, Shinhan, KDB to select new heads in March amid looming industry consolidationVeteran bankers and former bureaucrats are jockeying in several races for top financial business posts dogged by alleged political pressure, in-house power struggles and procedural disputes.Woori Finance Holdings and Shinhan Financial Group plan to select their new heads next month. Hana and KDB groups are also set
Feb. 9, 2011
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New iPhone app helps with confession
(MCT)WASHINGTON, (AFP) - A new "Confession" application for Apple's iPhone, iPad and iPod Touch has received the blessing of a Catholic bishop."Confession: A Roman Catholic App," is the first program for the Apple devices created by a South Bend, Indiana-based company called "Little iApps."Its developer, Patrick Leinen, said the app was designed to be used in the confessional and was intended "for
IndustryFeb. 9, 2011
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GM Daewoo launches all-new Orlando in S. Korea
GM Daewoo Auto & Technology, the South Korean unit of General Motors Co., introduced Wednesday its new seven-seat, multi-purpose vehicle, the Chevrolet Orlando, in South Korea. "We are carving out a new segment in the market with the Orlando," said Mike Arcamone, president and CEO of GM Daewoo, defining the vehicle as South Korea's first Active Life Vehicle (ALV). The Chevrolet Orlando (Yonha
MobilityFeb. 9, 2011
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Volkswagen commercial crowned favorite Super Bowl ad
A Volkswagen commercial broadcast during the Super Bowl Sunday night in the United States has become a hit on TV as well as on YouTube, with hundreds of thousands of people having watched it so far. The commercial featured a child dressed as Darth Vader trying to use “the force” on everything around the house. Six-year-old actor Max Page played the mini-Darth Vader and became a star literally ove
MobilityFeb. 9, 2011
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IT exports post strong gain in Jan.
Korea’s exports of IT-related products jumped 16.3 percent in January from a year earlier on strong global demand for semiconductors, displays and mobile phones, the government said Tuesday.The country shipped $12.83 billion worth of IT products abroad, marking the 15th month in a row that exports grew at a double-digit rate, the Ministry of Knowledge Economy said in a monthly report.Exports of se
IndustryFeb. 8, 2011
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Toyota to recall Lexus for fuel pipes
Toyota Motor Corp., a Japanese carmaking giant, will recall 2,459 vehicles sold in Korea due to manufacturing defects that could lead to oil leakage, Seoul’s transportation ministry said Tuesday.Subject to the recall are the Lexus IS250 model produced and sold between Sept. 3, 2007 and Dec. 3, 2008, according to the Ministry of Land, Transport and Maritime Affairs. The luxury passenger cars were f
IndustryFeb. 8, 2011