Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Why is Apple Pay struggling to get purchase in Korea?
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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Yoon's approval rating plunges to all-time low
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[Today’s K-pop] BTS pop-up event to come to Seoul
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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EU Gateway Program in Korea 2012 opens in Seoul
A group of European companies will hold one-on-one business meetings with potential Korean clients at the InterContinental Seoul COEX on Tuesday and Wednesday, organizers said.Called the “EU Gateway Program in Korea,” the project promotes business relations between small and medium sized enterprises, or SMEs, from European Union member countries and Korean companies. The program is now in its fourth year. This year’s agenda focuses on environment and energy-related technologies, and health care
June 11, 2012
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‘Policy creation key to helping startups grow’
A U.S. senior researcher said Monday that young entrepreneurial communities are the driving force behind net new job growth, and world governments should focus on creating start up-friendly policies in the future. Speaking on the sidelines of the APEC Start-up Conference 2012, which opened at the COEX center in southern Seoul on Monday, senior fellow for the Kauffman Foundation Jonathan Ortmans stressed the importance of governments taking a more collaborative role in helping these new and young
June 11, 2012
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Air France-KLM sees Asia as source of growth
Understanding local audience key to growth in Korean market, executive in Seoul saysDespite the eurozone fiscal crisis, European airliners are continuing their expansion into the Asia-Pacific region, where it is still seeing some growth. China was the second largest airline market in the world last year, with an estimated 300 million travelers and revenues of approximately $57.6 billion, according to the International Air Transport Association. So it makes sense that Air France-KLM is looking to
June 11, 2012
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AustCham Korea to hold rugby viewing party
The Australian Chamber of Commerce in Korea, or AustCham, will hold a rugby viewing party on Wednesday.It will take place at Itaewon’s 3 Alley Pub. Visitors will be able to watch the second game in the “State of Origin” series, or an annual best-of-three series between two of Australia’s rugby rivals, the Blues and the Maroons.Guests can also enjoy drinks and free food, and take part in sweepstakes. There will also be other chances to win prizes.For more information, please visit www.austchamkor
June 11, 2012
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Linked Seoul organizes rooftop BBQ party
The networking organization Linked Seoul is offering its second annual summer rooftop barbecue party this month.On Friday, members can network and mingle with other business professionals at the Fraser Place in Uijuro, dowtown Seoul. A barbecue buffet as well as unlimited beer and wine will be offered. The event is members-only, but basic membership is free. To sign up, please visit www.linkedseoul.org.
June 11, 2012
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POSCO launches panel for Park T.J. commemoration
POSCO said on Sunday that it has organized a committee to implement a series of commemorative works for its founder Park Tae-joon. The committee consists of 20 prominent figures including POSCO CEO Chung Joon-yang, chairwoman Lee Bae-yong of the Presidential Council on National Branding and Pohang-born author Lee Dae-hwan. The panel plans to convene a quarterly meeting to direct the commemoration-related works from 2013, after the organization changes its official title to “The POSCO Cheongam F
June 11, 2012
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Korea, U.S. conclude preliminary FTA talks
South Korea and the United States concluded two days of preliminary talks in Washington aimed at fueling trade following the implementation of the bilateral free trade pact, the foreign ministry said Saturday.Seoul and Washington established the minister-level Joint Committee and 19 subcommittees and working groups to oversee the implementation of the landmark free trade agreement that went into force on March 15.During the two days of talks, committees on trade in goods, trade remedy, service a
June 10, 2012
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Echo boomers face unemployment, credit, housing crisis: report
The echo-boomer generation, or the children of baby boomers, is facing a crisis in unemployment, credit and housing amid the economic slump, a local think tank said in a report released Sunday. Echo boomers are experiencing a painful entry into society under an economic environment that is distinctly different from the one their parents went through, Hyundai Economic Research Institute said.The population of echo boomers, born between 1979 and 1985, was around 5.1 million in 2010. Despite their
June 10, 2012
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Listed firms’ debt-repaying ability worsens: data
South Korean listed companies’ ability to pay back their debt deteriorated in the first quarter as their earnings declined amid increased bond issues, data showed Thursday.The average interest coverage ratio of 635 firms listed on the main bourse came to 4.33 in the three-month period, down from 5.58 a year earlier, according to the data by the Korea Exchange and the Korea Listed Companies Association.The ratio, a firm’s operating profit divided by its interest costs, measures the company’s abil
June 7, 2012
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GNI growth slows in Q1: central bank
South Korea’s gross national income grew at a slower pace in the first quarter due mainly to worsening terms of trade, the central bank said Thursday.According to the national income statistics report by the Bank of Korea, the country’s real GNI edged up 0.2 percent from the previous three-month period, while gaining 2.5 percent from the year before.The increase marks a slowdown from 1 percent on-quarter growth tallied in the fourth quarter and a 0.6 percent gain reported for the third quarter.“
June 7, 2012
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KCCI members vow action for economic recovery
Regional representatives of the Korea Chamber of Commerce and Industry gathered in Yeosu, South Jeolla Province, on Thursday, to discuss ways to revive the domestic economy and contribute to the success of the world exposition being held in the city.The meeting, held at the MVL Hotel Yeosu, was attended by 14,000 representatives from KCCI’s 71 regional chambers, as well as KCCI chairman Sohn Kyung-shik. “Sluggish exports and a stagnant economy are contributing to difficulties in the domestic ma
June 7, 2012
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South Korean banks’ household loans rise in May
South Korean banks' household loans rose in May from the previous month due to lowering of interest rates by some lenders and more purchases made with credit cards, the central bank said Thursday. Local banks' household loans, including home-backed loans and credit loans, reached 455.8 trillion won (US$389.1 billion) as of the end of May, up 2.2 trillion won from a month earlier, according to the
June 7, 2012
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AMCHAM CEOs serve as waiters for scholarships
By Renee Park Executives from some of the world’s top multinational companies donned waiters’ uniforms on Tuesday evening for the 8th AMCHAM CEO Servers’ Night, to serve a four-course dinner to their employees, friends and family members.Held at the Banyan Tree Club & Spa Seoul, the eleven executives, from companies such as Boeing Korea, Fidelity Worldwide Investment and Costco Wholesale Korea, raised about 30 million won to go toward scholarship assistance for Korean university students from di
June 6, 2012
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Container cargo tops record 2m TEU mark
The volume of container cargo handled at South Korea’s seaports surpassed the 2 million 20-foot-equivalent units mark for the first time in May on growth of transshipments, the government said Wednesday.The volume of container cargo handled at the country’s seaports is estimated to have reached more than 2.01 million TEUs last month, up 8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs.“This is the largest volume ever recorded on a monthly basis, wi
June 6, 2012
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Korea, U.S. to hold FTA committee meetings
Officials of South Korea and the United States will meet in Washington this week to check on the implementation of the free trade agreement between the two countries, the Trade Ministry said Wednesday.Seoul and Washington have established the minister-level Joint Committee and 19 subcommittees and working groups to oversee the implementation of the landmark trade pact that went into force in March.Of them, the committees on trade in goods, trade remedy, service and investment, and the working gr
June 6, 2012
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Korea’s economy unlikely to recover in H2: economists
South Korea’s economy may not be able to recover from its current slowdown in the second half of this year mainly due to unfavorable overseas developments, local economists said Tuesday.In an economic assessment gathering hosted by the Federation of Korean Industries, experts predicted the persistent eurozone fiscal woes are exerting negative influence on the country. They added slower than expected growth in China and the United States is weighing down growth that was originally expected to pic
June 6, 2012
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Trading volume in S. Korean stock market drops sharply amid
South Korea's stock market has seen trading volume and market capitalization plunge as investor sentiment worsened with the U.S. and Chinese economies showing signs of slowing down amid the eurozone financial crisis, market watchers said Wednesday.The benchmark KOSPI market's capitalization has dropped to 1,061 trillion won ($898 billion) as of May 31, a level similar to August last year. The seco
June 6, 2012
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Kiribati leader gets honorary doctorate
Pukyong National University on Tuesday awarded an honorary doctorate to Kiribati President Anote Tong in recognition of his contributions to maritime affairs and nature conservation. Tong, who is currently serving his third term in office, received an honorary doctorate of engineering at a ceremony held on campus grounds in Busan on Tuesday. Officials said that Tong has been active in promoting maritime affairs between Korea and the small Pacific island of Kiribati, and has also been a strong su
June 5, 2012
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Merck and LG Chem honored at SID Display Week 2012
Two of the world’s top liquid-crystal display producers, Merck and LG Chem, will receive a prestigious industry award on Wednesday for their joint development of a new cutting-edge display component called “3-D FPR.”The U.S.-based Society for Information Display, or SID, will award the companies with the silver in the display component category at the SID Display Week 2012, which opened last Sunday in Boston, Massachusetts. Also known the 3-D Film-Patterned Retarder, the device incorporates liqu
June 5, 2012
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Samsung Electronics opens Korea’s largest day care center in Suwon
Samsung Electronics said that it has opened Korea’s largest day care center in Suwon, about 30 km south of Seoul. The center, which opened Tuesday, measures about 9,240 square meters in total and has a maximum housing capacity of 600 people. As a large-scale expansion of a childcare center that first opened in 1996, this new building is about six times the size of the original and is expected to help ease the burden of childcare costs.Female company employees with children aged 1-5 are eligible
June 5, 2012