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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LG CNS picked as provider of system to integrate Colombian transport network
Korea’s cutting-edge transportation IT infrastructure will be introduced in Colombia as LG CNS, Korea’s tech firm, won the $300 million project to set up an intelligent transport system in Bogota, the company said on Tuesday.Bogota, Colombia’s capital, is one of the three biggest cities in Central and South America. Under the deal, LG CNS will establish systems for bus management, as well as issua
IndustryJuly 19, 2011
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Louis Vuitton to pull out of Lotte duty free shop in COEX
Louis Vuitton has decided to close a store at Lotte Duty Free Shop in COEX, citing recent slowing sales there. According to industry sources on Tuesday, the French brand will not renew its contract with Lotte, set to expire in December, and will withdraw the store.“We have informed Lotte about the withdrawal because of poor sales,” a Louis Vuitton official said in an interview. A pedestrian looks
IndustryJuly 19, 2011
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Korean robotics industry bursting into bloom
Market for robots nearly doubles to 1.93tr won in 2010Korea’s robotics industry is making rapid headway as local developers chalked up record growth in output, sales and exports last year on the back of surging investment in factories, a government study showed Tuesday.According to the survey by the Korea Association of Robot Industry of 395 firms, their combined sales nearly doubled to 1.93 trill
IndustryJuly 19, 2011
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Foxconn-Sharp ties aimed at countering Samsung, LG
HONG KONG (Yonhap News) ― The recent alliance between Taiwanese manufacturer Foxconn Technology Group and Japan’s Sharp Corp. will likely present a counterweight to South Korean liquid crystal display makers that have been dominant players in the global LCD market, an expert said Tuesday.Foxconn, the world’s largest contract electronics maker, agreed with the Japanese electronics giant last week t
IndustryJuly 19, 2011
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New mobile carrier unlikely to bring much change to market
The Korea Federation of Small and Medium Business is looking to set up a fourth mobile telecom services provider, but the market divided among three long-established giants is likely to hinder the would-be telecom operator.At present SK Group’s SK Telecom is the market leader with over 50 percent market share, followed by KT Corp., which accounts for about 35 percent of the market.LG Uplus, which
IndustryJuly 19, 2011
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Top regulator criticizes banks for high dividends
The nation’s chief financial regulator has expressed his skepticism toward major financial groups’ plan to offer its shareholders generous dividends.“Though it is important to maximize shareholder rights, it is also important for financial companies to protect customer rights,” Financial Supervisory Service Gov. Kwon Hyouk-se told reporters on Tuesday.It would be desirable for major financial grou
July 19, 2011
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Spanish bank to tap Korean market
European banks expected to expand presence in Korea under Korea-EU FTAEuropean banks are expected to expand their presence in the local market following the implementation of the Korea-EU Free Trade Agreement.Those aiming to making inroads into Korea include Banco Bilbao Vizcaya Argentaria S.A., a lender headquartered in Spain and the third-largest lender in the EU.Korea’s regulatory officials are
July 19, 2011
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Employment rate for women in their 50s highest in decades
The employment rate among Korean women in their 50s hit the highest level in decades in the second quarter, as many females joined the workforce to meet growing education and living costs, data showed Tuesday.According to the data by Statistics Korea, the employment rate among the cited age group stood at 59.3 percent in the April-June period, the highest level since the third quarter of 1992, whe
July 19, 2011
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Korean consumers aim to take a bite out of Apple
Class action suit against U.S. giant set to be filed next month over location trackingKorea’s class action suit against Apple Inc. is taking shape as a team of lawyers from the Miraelaw law firm are gearing up to file thousands of suits together next month.So far, more than 23,000 people have taken part in the class action spearheaded by the law firm’s 36-year-old lawyer Kim Hyeong-seok.Kim was th
TechnologyJuly 19, 2011
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BMW biggest 1-Series seen catching Audi in luxury market: Cars
Bayerische Motoren Werke AG is rolling out a bigger 1-Series compact car to surpass Audi in the competition for younger customers purchasing entry-level luxury autos. BMW’s smallest model will add more than 3 inches in length and about 1 inch in width, allowing for a roomier interior and more trunk space, the carmaker said. The vehicle’s starting price will be 23,850 euros ($33,480) in Germany, 90
IndustryJuly 19, 2011
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IBM’s services signings surge, stock rises
IndustryJuly 19, 2011
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Samsung Electronics Co. issued another apology Tuesday over malfunctions of its air conditioners as consumer complaints escalated despite its decision to recall affected products. Earlier this month, Samsung said that it will recall four air conditioner models sold in South Korea between January and June of this year, as the software program caused air conditioners to malfunction. (Samsung Electronics Co.)
IndustryJuly 19, 2011
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Hacker group launches online social network
SAN FRANCISCO (AFP) -- Infamous hacker group Anonymous launched Monday its own social network after being rejected by Google's freshly-launched online community."Today we welcome you to begin anew," the hacker alliance said at the website anonplus.com, which it described as a platform to distribute information."Welcome to the Revolution -- a new social network where there is no fear... of censorsh
TechnologyJuly 19, 2011
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Personality affects body weight
People with personality traits of high neuroticism and low conscientiousness are likely to go through cycles of gaining and losing weight throughout their lives, according to an examination of 50 years of data in a study published by the American Psychological Association.Impulsivity was the strongest predictor of who would be overweight, researchers found. Study participants who scored in the top
TechnologyJuly 19, 2011
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Employment rate for women in their 50s at highest in decades
The employment rate among South Korean women in their 50s hit the highest level in decades in the second quarter, as many females joined the workforce to meet growing education and living costs, data showed Tuesday.According to the data by Statistics Korea, the employment rate among the cited age group stood at 59.3 percent in the April-June period, the highest level since the third quarter of 199
July 19, 2011
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S. Korea to restrict banks' handling of kimchi bonds
South Korea plans to restrict domestic and foreign banks from investing in foreign currency bonds sold within the country for the purpose of won conversion, in a bid to curb short-term foreign debt, the central bank said Tuesday.Since May, the Bank of Korea (BOK) and the financial watchdog have been inspecting banks' handling of so-called "kimchi bonds,"foreign-currency debt sold by local and fore
July 19, 2011
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S. Korea's state auditor to probe KTX breakdowns
South Korea's state auditor is expected to conduct a special probe as early as later this month to determine the cause behind the frequent malfunctions involving the country's high-speed trains, an official source said Monday.The source said Board of Audit and Inspection (BAI) chairman Yang Kun stressed at a meeting of senior officials that there is a need for a full and detailed examination into
IndustryJuly 19, 2011
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Foreign investors likely to get half of dividends at financial holdings
Foreign investors are expected to scoop more than half of the coming dividends at Korea’s four major financial holdings companies this year, spurring concerns about capital flight in the industry increasingly tapped by foreign investors.A study by Daishin Securities Co. said Monday that 53 percent, or 1.24 trillion won ($1.17 billion), of the total net profit set aside as dividends at the four maj
July 18, 2011
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Samsung Everland fires union leader for leaking corporate information
Samsung Everland Inc. said Monday that it has fired a worker for leaking sensitive corporate information less than a week after employees set up a trade union. The company, which is an affiliate of Samsung Group, South Korea's largest family-owned conglomerate, said Cho Jang-hee, the vice chairman of the union, has been dismissed for wrongful conduct and that its in-house disciplinary committ
July 18, 2011
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Korea's SME federation seeks to set up 4th mobile carrier
South Korea's umbrella federation of small and medium-sized enterprises on Monday said it will seek to set up the country's fourth mobile carrier as part of an ongoing effort to boost growth of local venture firms. The Korea Federation of Small and Medium Business said after holding a board meeting that it plans to invest less than 100 billion won ($94.2 million) in the proposed consortium made
July 18, 2011