Glam Media launches...Korean service

Global digital media firm Glam Media launched a website in Korean last week.As a network of sites targeting women, the website offers information ranging from beauty, fashion, style, celebrity and lifestyle, enabling its visitors to access a variety of information in a single visit.It also partnered with well-known global magazines such as Marie Claire and Luxury to provide content most frequently

IndustryApril 3, 2011

KT expands ‘smart working’ environment

KT Corp., the country’s biggest fixed-line service operator, said Sunday that 20,000 of its workforce will take part in the company’s “smart working” program starting this month.The company said it will encourage more people to participate in the flexible working system as it brought positive outcomes such as an increase in productivity in a group that has tested the system since last September.Ea

IndustryApril 3, 2011

Debt woes weigh on Korean economy

Debts owed by the government, individuals and companies in Korea reached a record high last year, data showed on Sunday, raising concerns that the high level of debts could derail the economy off the recovery track.According to data compiled by the Bank of Korea, their interest-bearing debts reached 2,586 trillion won ($2.37 trillion) at the end of last year, up 7.4 percent from 2,408 trillion won

April 3, 2011

Listed firms’ net jumps 73 percent in 2010

Korea’s listed companies saw their earnings surge 73 percent on-year in 2010 thanks to a recovery in domestic demand and robust exports, a report showed Sunday.The combined net profit of 573 firms listed on the main bourse came to 55.8 trillion won ($51 billion) last year, up from 32.2 trillion won the previous year, according to the report jointly compiled by the Korea Exchange and the Korea List

April 3, 2011

Stocks forecast to extend gains

Korean stocks are forecast to gather further momentum to set a new record high this week as the market brushes off global woes like Japan’s massive quake and Middle East political unrest, analysts said.The benchmark Korea Composite Stock Price Index ended this week 66.97 points, or 3.26 percent, higher to 2,121.01 on Friday from a week earlier, marking the highest closing ever for the local key in

April 3, 2011

Regulator sets April date for decision on Lone Star

Korea’s top financial regulator has said the watchdog will push to make a final decision this month over whether Lone Star Funds has the legal right to be the top shareholder of Korea Exchange Bank.Financial Services Commission Chairman Kim Seok-dong said in a meeting with reporters, “We are working to make a final decision on Lone Star’s eligibility in April.” The regulator is expected to deliber

April 3, 2011

Discount on Mercedes-Benz collection

Mercedes-Benz Korea is holding an online event offering 20 percent discount coupons to those who join the Mercedes-Benz Collection homepage to mark the German carmaker’s 125th anniversary. The Mercedes-Benz Collection consists of Mercedes-Benz memorabilia including clothing and accessories. The offer, available until April 20, is available to those joining the website for the first time. In additi

MobilityApril 3, 2011

Strong Q1 results seen for autos, refiners

Industry watchers predict earnings surprise for Kia, record profits for S-Oil, SK InnovationKorean carmakers and oil refineries are expected to report strong first-quarter performances this month on rising demand and favorable external conditions. The results for steel, electronics and construction sectors are likely to be disappointing, analysts say.Ahead of the April earnings season, market watc

IndustryApril 3, 2011

Fiat to up its Chrysler stake to 35 percent

TURIN, Italy (DPA) ― Fiat intends to increase by 10 percent its current 25 percent controlling interest in U.S. carmaker Chrysler, the chief executive of both companies, Sergio Marchionne, said Wednesday.“We will soon bring our stake in Chrysler to 35 percent, Marchionne said during a Fiat shareholders’ meeting at the Italian company’s Turin headquarters, indicating the move would happen soon.Figu

MobilityApril 3, 2011

Hyundai tops Asian car brands’ U.S. gains as quake impact looms

Hyundai Motor Co., Korea’s largest carmaker, posted a 32 percent gain in U.S. sales in March to lead Asia-based manufacturers while Toyota Motor Corp. reported a monthly decline. Deliveries dropped 5.7 percent for Toyota. Nissan Motor Co. said Friday it had a 27 percent gain and Honda Motor Co.’s sales rose 23 percent as the three biggest Japan-based brands braced for the full effect of the countr

MobilityApril 3, 2011

Korean carmakers record 10.8% sales rise in March

Sales of five automakers in Korea rose 10.8 percent in March from a year earlier on strong demands for new vehicles in both domestic and overseas markets, the companies said Friday.The combined sales of the automakers came to 649,994 units, compared with 586,561 units sold in March 2010. Domestic sales rose 8.1 percent on-year to 133,273 units in March with overseas sales also soaring 11.5 percent

MobilityApril 3, 2011

Yeosu Expo to hold preliminary meeting of participants

   YEOSU -- The organizing committee for the 2012 Yeosu Expo will hold a meeting with representatives from the participating countries to explain details on its preparation for the international exhibition, it said Sunday.    The meeting is expected to bring together Vicente Gonzalez Loscertales, secretary general of the Paris-based Bureau of International Exhibitions (BIE), and some 250 represent

April 3, 2011

S. Korea firms urged to prepare for increased competition in India

  South Korean companies should be prepared for fierce competition with Japanese rivals in India following New Delhi's signing of a free trade agreement with Tokyo, a local trade body said Sunday.   Japan and India signed a comprehensive economic partnership agreement (CEPA) in February, which, once implemented, will remove around 94 percent of import tariffs on both sides, according to a report b

IndustryApril 3, 2011

S. Korean exporters get $7.14 mln in orders at fisheries expo

   South Korean seafood exporters have won $7.14 million worth of export orders at North America's largest seafood event in the U.S. city of Boston, the government said Sunday.   The Ministry for Food, Agriculture, Forestry and Fisheries said eight companies attended the 2011 International Boston Seafood Show to highlight locally produced fresh, canned and ready-made products, and hold tasting eve

April 3, 2011