Most Popular
-
1
Medical profs at top hospitals suspend surgeries, clinics
-
2
Exports to US reach all-time high, widen gap with China
-
3
Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
-
4
Samsung chip business back on track, logs W1.9tr operating profit in Q1
-
5
Shinsegae faces showdown with investors over SSG.com's delayed IPO
-
6
[Music in drama] Rekindle a love that slipped through your fingers
-
7
Ex-pro baseball player who killed debtor appeals sentence
-
8
Hopes rise for possible Gaza truce deal
-
9
S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
-
10
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
Korea to log W20tr in fiscal deficit annually
South Korea will post about 20 trillion won ($18.2 billion) in fiscal deficit every year until 2016, a parliamentary office said Sunday, casting doubt over the government’s push to achieve a balanced budget in a couple of years.According to data provided by the National Assembly Budget Office, South Korea will post about 18.5 trillion won in fiscal deficit next year, far higher than the government’s deficit forecast of 4.8 trillion won.The larger-than-expected shortfalls come mainly from the off
Oct. 28, 2012
-
Korea’s pension system lags overseas versions
South Korea’s retirement income system is among the worst in the world, according to data released by an Australian research center on Sunday. The Australian Center for Financial Studies’ October 2012 Melbourne Mercer Global Pension Index showed that Korea ranks 16th among 18 researched countries in terms of the retirement income system, marking an overall index value of 44.7. Denmark topped the list with 82.9 points. China came in 15th with 45.4 points, Japan 17th with 44.4 points and India 18t
Oct. 28, 2012
-
Korea fears quarterly contraction in Q4
With the Korean economy continuing to grow less than 1 percent on-quarter since the second quarter of last year, there are increasing predictions of a quarterly contraction of gross domestic product.International trade volumes have diminished as the world’s major economies slowed, dealing a blow to Korea’s exports and industrial production, the pivotal driving forces of its economy.Several institutions at home and abroad say Korea could post negative on-quarter growth in the last three months of
Oct. 28, 2012
-
S. Korea needs 10 more yrs to achieve $30,000 income
South Korea might need 10 more years to see its per-capita income exceed US$30,000 as an elongated low growth trend and other economic structural problems are dimming the overall outlooks, a private think tank said Sunday.South Korea's per-capita income seems to be "trapped" in the $20,000 range five years after it surpassed the mark for the first time in 2007, as the growth rate has remained stagnant over the past years, according to a report by the Hyundai Research Institute.From 2007 to 2011,
Oct. 28, 2012
-
S. Korea to log 20 tril. won in fiscal deficit annually until 2016
South Korea will post about 20 trillion won ($18.2 billion) in fiscal deficit every year until 2016, a parliamentary office said Sunday, casting doubt over the government's push to achieve a balanced budget in a couple of years.According to data provided by the National Assembly Budget Office, South Korea will post about 18.5 trillion won in fiscal deficit next year, far higher than the government's deficit forecast of 4.8 trillion won.The larger-than-expected shortfalls come mainly from the off
Oct. 28, 2012
-
Seoul shares sink 1.72 percent on growth woes
South Korean stocks fell 1.72 percent Friday as the country’s weaker economic growth put a dent in investor sentiment amid a lack of market momentum, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 33.07 points to close at 1,891.43. Trading volume was moderate at 432.1 million shares worth 4.54 trillion won ($4.14 billion), with losers far outstripping gainers 680 to 171.“The market is taking the quarterly growth a li
Oct. 26, 2012
-
Korea's consumer sentiment hits 9-month low in Oct.
South Korean consumers' confidence fell to the lowest level in nine months in October as the economic outlook remained bleak amid the eurozone debt crisis, the central bank said Friday.The consumer sentiment index -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 98 for October, down from 99 tallied for September, according to a survey by the Bank of Korea (BOK).The October figure marked the lowest level since the index hit an identical 98 in
Oct. 26, 2012
-
Samsung Electronics breaks 8 trillion won mark in Q3
Samsung Electronics said Friday that it logged a record-breaking operating profit of 8.12 trillion won for the third quarter, boosted by its strong sales of mobile devices and display panels.The world’s top smartphone maker also achieved 52.18 trillion won in revenue, an increase of 26 percent year-on-year. Net profit also posted at 6.56 trillion won from July-September.The figures were similar to those released in its earnings guidance earlier this month which said the company’s consolidated re
Oct. 26, 2012
-
Korean Economy grows at slowest pace in almost 3 years
The South Korean economy grew at the slowest pace in nearly three years in the third quarter in the face of the global economic downturn, the central bank said Friday, giving weight to the bank‘s recent rate cut.Korea’s gross domestic product, the broadest measure of economic performance, grew 0.2 percent in the July-September period from three months earlier, slowing from a 0.3 percent on-quarter gain tallied in the second quarter, according to an advance estimate by the Bank of Korea.The third
Oct. 26, 2012
-
Hyundai Heavy Q3 net jumps 30%
Hyundai Heavy Industries Co., South Korea's leading shipbuilder, said Thursday its third-quarter earnings soared almost 30 percent from a year earlier on a one-time factor. Net profit reached 729 billion won ($666 million) on a consolidated basis in the July-September period, compared with a profit of 562 billion won a year earlier, the company said. Sales edged up 0.8 percent on-year to reach 13.1 trillion won, while operating income dropped 35 percent to 594 billion won over the cited perio
Oct. 25, 2012
-
U.S. accused of Apple protectionism
The U.S. International Trade Commission’s decision Thursday that Samsung infringed on four of Apple’s patents has led to accusations of protectionism.U.S. ITC Judge Thomas Pender said in a notice on the agency’s website that Samsung violated four patents, including a design patent and three other patents that include touch-screen technology.“We will immediately request a re-examination of the preliminary decision and we’re confident that our claim will be accepted in the final determination,” sa
Oct. 25, 2012
-
Seoul fumes after Google deletes ‘Dokdo’ from map
The Korean government refused to accept search engine Google’s new map policy under which it changed the name of Dokdo to “Liancourt Rocks,” and questions are rising over whether there was a way to coordinate a better alternative.“We heard that Google conveyed its new policy to our embassy in the United States, but we instantly informed the company that we could not accept (it) as Dokdo is Korean territory,” said Cho Tai-young, a Foreign Ministry spokesman. Google, however, pushed ahead, explain
Oct. 25, 2012
-
Number of holding companies in Korea rises to 115: report
The number of holding companies in South Korea increased over the past year as the government encouraged businesses to enhance their transparency in corporate governance, the country’s antitrust watchdog said Thursday.As of September, the number of holding companies stood at 115, up from the previous year’s 105, according to a report by the Fair Trade Commission. For large conglomerates, the number increased from 28 to 30 over the same period.A holding company refers to a firm that usually does
Oct. 25, 2012
-
Korea imports gasoline from China to curb pump prices
The Korean government took another step to curb soaring oil prices by importing gasoline through state-run Korea National Oil Corp., or KNOC.KNOC announced on Thursday that it purchased 100,000 barrels of gasoline from PetroChina, China’s largest oil company. KNOC-imported oil is expected to be distributed through the nation’s discount gas stations early next week. It is the first time for KNOC to import gasoline through international bidding to lower oil prices. The move was anticipated by Stra
Oct. 25, 2012
-
Korea ranks 108th in gender equality: WEF report
South Korea ranked among the lowest group in the world in gender equality, a report showed Wednesday, indicating that it needs to step up efforts to bolster women’s economic participation and their access to education.According to the report by the World Economic Forum, South Korea came in at 108th out of 135 countries it surveyed in terms of gender equality this year. The ranking was one notch lower than the previous year and it was also similar to countries such as the United Arab Emirates, Ku
Oct. 24, 2012
-
Ssangyong E&C wins $180m deal in Singapore
Ssangyong Engineering & Construction Co. said Tuesday that it has won a $180 million contract to build a new college campus in Singapore.The deal signed with the National University of Singapore on Monday, calls for the South Korean company to build facilities, including dormitories, a library and lecture halls for Yale-NUS College.Ssangyong E&C said the project will be completed 29 months after work begins later this month.The latest order comes weeks after Ssangyong E&C’s creditor banks announ
Oct. 23, 2012
-
POSCO Q3 net earnings more than triple
POSCO, South Korea’s leading steelmaker, said Tuesday that its third-quarter earnings more than tripled from a year earlier on cost-cutting efforts and a one-time factor.Net profit reached 723 billion won ($656 million) on a consolidated basis in the July-September period, compared with a profit of 229 billion won a year earlier, the company said.Sales, however, slipped 7.2 percent on-year to 15.74 trillion won, and operating income also dropped 17.6 percent to 1.06 trillion won over the cited p
Oct. 23, 2012
-
EU rejects France’s complaint against Korean carmakers
The European Union has dismissed France’s request to monitor imports of Korean cars more closely to restrict the soaring sales of them in the country.According to the Trade Ministry in Seoul, the European Commission officially decided on Monday to reject France’s demand to put Korean autos on a prior surveillance list.Trade officials said the executive body of the EU reviewed the French request made in July and decided not to accept it. France apparently made the request with the aim of driving
Oct. 23, 2012
-
Korea ranks 8th in business environment: World Bank
South Korea ranked eighth in terms of business environment this year partly thanks to its efforts to streamline regulations related to protecting investor rights and imposing taxes, the Finance Ministry said Tuesday.The ranking by the World Bank was unchanged from the previous year and marked the second consecutive year South Korea was listed on the global top 10 list, according to the ministryThe Washington-based lender analyzed 185 countries’ business environments by breaking them down into 10
Oct. 23, 2012
-
AIPPI’s policy recommendations
One of the missions of AIPPI is to achieve the harmonization and improvement of intellectual property laws worldwide by conducting comparative legal research and formulating recommendations to entities charged with developing, interpreting or enforcing IP laws. These recommendations are referred to as the resolutions, which, because of the representative nature of the membership of AIPPI, and its working methods, are intended to be a truly worldwide answer to an intellectual property issue of cu
Oct. 22, 2012