Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Korea added to key bond index
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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North Korea notifies UN Command of plans to fortify border with South
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Taking away phones during school hours not a human rights violation: watchdog
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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Quarantine checks on farm imports increase
Korea’s quarantine inspections of imported farm produce rose 10 percent on-year in the first quarter mainly due to greater local demand for vegetables and fruits, the government said Tuesday.The Ministry for Food, Agriculture, Forestry and Fisheries said import inspections were carried out on 43,793 shipments in the January-March period, compared to 39,746 during the same period a year earlier.“Un
April 12, 2011
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POSCO operating income forecast to fall
Korea’s leading steelmaker POSCO is expected to report an operating income of less than 1 trillion won ($917 million) for the January-March period due to a price freeze amid soaring raw materials costs, analysts said Tuesday.POSCO, the world’s third-largest steelmaker, is set to report its first-quarter earnings next Friday. The steelmaker has been reporting a quarterly operating profit of more th
April 12, 2011
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Finance minister to attend G20 meeting
Korea’s Finance Minister Yoon Jeung-hyun will leave for the United States this week to attend a Group of 20 (G20) meeting, which will focus on pending global economic and financial issues, officials said Tuesday.The G20 finance ministers’ meeting will kick off in Washington on Thursday for a two-day run, according to the Ministry of Strategy and Finance. Yoon will leave for the meeting on Wednesda
April 12, 2011
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3-D industry waiting for cue on adult content
The success of “Sex and Zen” is most likely to mark a watershed moment in the 3-D industry as the fate of adult movies seems to be hinging on the movie’s performance.“It’s a matter of time, but we are in dire need of some concrete evidence to accept that 3-D adult entertainment will take off in earnest,” said Han Dong-hoon, a spokesperson for N’tree Media, an adult-image content provider. “Sex and
IndustryApril 11, 2011
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Public firms’ debts surge W34tr in 2010
Debts owed by Korea’s public corporations surged by 34.2 trillion won ($31.6 billion) in 2010 mainly due to outlays in large development projects, the government said Monday.The finance ministry said the combined debt of 27 leading public corporations rose 14.4 percent on-year to 271.9 trillion won last year, with their debt-to-equity ratio hitting 157 percent, up from 144 percent in 2009.Their de
April 11, 2011
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Hyundai Capital under full-scale probe
FSS sends investigators to largest auto loan firm over customers’ information leakThe Financial Supervisory Service on Monday dispatched a group of inspectors to Hyundai Capital where the personal information of about 420,000 customers and passwords of 13,000 customers have been stolen by hackers.The hacking allegedly went on for about two months without detection by staff of Hyundai Capital, whic
April 11, 2011
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Korea, Indonesia to discuss economic ties
Korea and Indonesia will hold a working-level meeting next month on ways to further boost bilateral economic cooperation, Seoul’s finance ministry said Monday.The meeting is a follow-up on a December summit between Korean President Lee Myung-bak and Indonesian President Susilo Bambang Yudhoyono, in which they agreed to boost bilateral cooperation on weaponry development, energy, infrastructure and
April 11, 2011
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Foreigners make robust property gains
Foreign funds reap better returns than locals on real estate investmentsForeign funds have outperformed domestic institutions in terms of capital gains on real estate investments in Korea over the past decade, market researcher JUSTR said Monday. Foreign investment groups such as Lone Star Funds, Goldman Sachs and Government of Singapore Investment Corp. have recorded an average capital gain of 48
IndustryApril 11, 2011
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IMF to host job fair in Seoul next week
The International Monetary Fund is hosting a recruitment drive in Seoul next week for positions in its Technology and General Services Department, it said Monday.The all-day event slated for April 19 is part of the lender’s regional job fair to recruit East Asian candidates. The event will take place at Grand Interncontinental Hotel and may include on-cite interviews. Positions are open for facili
April 11, 2011
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Korea, China trade ministers discuss FTA
Korea Trade Minister Kim Jong-hoon discussed the stalled free trade negotiations with his Chinese counterpart Chen Deming during their meeting in Beijing on Monday, the Ministry of Foreign Affairs and Trade said. The meeting raised expectations for the two governments to put their FTA negotiations on a fast track. Seoul and Beijing began preliminary government-level talks in September but made lit
April 11, 2011
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Female entrepreneurs see old challenges, new successes in Korea
When Shim Yeo-lynn was replaced by her colleague with better English-speaking skills for a meeting with foreign clients, she did not just set out to hone her English skills. She founded a start-up herself.After hopping from one English prep school to another and taking a series of one-on-one lessons from native speakers, she realized that there was no service that teaches how to communicate in the
IndustryApril 11, 2011
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Obama to announce new spending plan
WASHINGTON (AP) ― One budget deal down, President Barack Obama and Congress began to pivot Sunday from the painful standoff over this year’s spending to a pair of defining debates over the nation’s borrowing limit and the election-year budget.Much will be revealed at midweek, when the House and Senate are expected to vote on a budget for the remainder of this fiscal year and Obama reveals his plan
IndustryApril 11, 2011
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Iceland rejects debt deal to repay U.K., Dutch
REYKJAVIK, Iceland (AP) ― Voters in Iceland rejected a government-backed deal to repay Britain and the Netherlands for their citizens’ $5 billion worth of deposits in a failed online bank, referendum results showed Sunday ― sending the dispute to an international court and plunging the economically fragile country into new uncertainty.Final results showed the “no” side had just under 60 percent of
IndustryApril 11, 2011
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Will Microsoft-Nokia alliance work in Korea?
Just a week ago at the world mobile trade show in Barcelona, global software giant Microsoft stunned many by announcing its alliance with Nokia, the world’s No. 1 handset maker.Following the international event, Microsoft Korea told reporters in a media briefing in Seoul on Monday that the new Windows Phone 7 will be available here as early as October.“Internally, we’re happy about our new allianc
TechnologyApril 11, 2011
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Students report technology addiction similar to drug dependence: study
(MCT)College students worldwide admitted to being addicted to modern technology and suffered withdrawal symptoms similar to drug addiction when cut off, a study showed last Friday. The University of Maryland research followed college students aged between 17 and 23 at 12 campuses in 10 countries, including Britain, the U.S. and China on the effects of being unplugged from technology.The research o
TechnologyApril 11, 2011
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Hacker steals financial info of Hyundai Capital clients
Financial services provider Hyundai Capital admitted Sunday that financial information including the credit ratings of some customers had been accessed by a hacker.Those responsible for the incident are thought to have accessed the company’s auxiliary server since February and hacked data in small portions to avoid detection. In addition, passwords and other vital information about loans taken out
April 11, 2011
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SK Telecom taps into China mobile game market
SK Telecom joined hands with China’s No. 1 wireless carrier to tap into one of the world’s fastest growing mobile game markets.ST Telecom and China Mobile’s game business unit signed a memorandum of understanding on Friday in China for cooperation in content, platform and networking technologies.China’s mobile game market has grown 100 percent annually for the past three years with the number of u
April 10, 2011
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Hyundai Heavy completes world’s largest gas power plant
Hyundai Heavy Industries announced Sunday that it completed building the world’s largest gas-powered power station in Saudi Arabia.Located in Jubail in Eastern Saudi Arabia, the plant was built as part of a $2.7 billion contract for a power and desalination plant issued by the state-run utilities firm Marafiq in 2007. The contract was awarded to an international consortium composed of Hyundai Heav
IndustryApril 10, 2011
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Korean firms seek ‘optimum’ bid for Brazil bullet train project
The South Korean consortium bidding for Brazil’s $20-billion high-speed rail service downplayed the impact of its recent loss of construction partners.The group said it is in talks with big-name constructors in Korea such as Hyundai Engineering and Construction and POSCO Engineering and Construction to form a new lineup before submitting its proposal. It is also contacting some large Brazilian con
IndustryApril 10, 2011
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Korea, U.S. regulators differ on KEB status
FSC delays ruling on Lone Star’s shareholder eligibility to April 27Korea Exchange Bank has been barred from operating deposit businesses in the U.S. since Lone Star Funds took over the lender in 2003, in contrast to Korea where there have been no such restrictions, sources said Sunday.The restriction indicates that U.S. regulators regard Lone Star as a non-financial investor, they said.“It seems
April 10, 2011