Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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40 flights canceled on Jeju Island due to bad weather
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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Korea to improve systems for KORUS FTA implementation
South Korea will step up efforts to streamline regulations, distribution structure and other systems that could hamper the successful implementation of the free trade agreement with the United States, the finance minister said Tuesday.“We will improve inefficient systems such as the complex distribution structure and other regulations that could pose a hindrance to the FTA with the U.S.,” Finance Minister Bahk Jae-wan said during a meeting with other policymakers. He vowed to provide more inform
March 13, 2012
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Korea, Qatar agree to seek joint overseas construction projects
Korea and Qatar have agreed to seek joint construction projects in third countries, by combining Korea’s building sector prowess with Qatar’s large national fund, the Land Ministry said Monday.The agreement was reached at a meeting in Doha between Yousef Kamal, Qatar’s minister of economy and finance, and South Korea’s Minister of Land, Transport and Maritime Affairs Kwon Do-youp.Under the agreement, Qatar will use its sovereign wealth fund to help finance overseas construction projects secured
March 12, 2012
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Manufacturers hit by high oil prices: poll
High international oil prices have undermined Korean manufacturers by raising their production costs sharply and eating into profits, a poll showed Monday.The survey of 300 companies nationwide conducted by the Korea Chamber of Commerce and Industry showed 81.6 percent of the respondents saying they were feeling the pinch of steeper oil prices.Prices of the benchmark Dubai crude that make up roughly 80 percent of the country’s oil imports surged to $123 per barrel last Thursday from an average o
March 12, 2012
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Korea reports first suspected case of avian influenza
A suspected case of avian influenza was reported for the first time in South Korea in nearly 10 months with test results of a more detailed examination due later in the day, the government said Monday.A suspected case was filed Sunday by a poultry farm in South Chungcheong Province where about 100 out of some 450 chickens are showing symptoms of AI, according to the Ministry for Food, Agriculture, Forestry and Fisheries.About 40 chickens at the farm have already died with an initial test on 10 c
March 12, 2012
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Samsung tops China’s smartphone market
HONG KONG (Yonhap news) ― Samsung Electronics Co. took the No. 1 spot in China’s smartphone market, beating Apple Inc., the maker of the hit seller iPhone, a market researcher said Monday.According to technology research firm Gartner Inc., Samsung Electronics Co. has risen as the top smartphone vendor in the world’s largest mobile phone market, grabbing a 24.3 percent market share in the fourth quarter of last year.Apple slipped to fifth place in terms of smartphones sold in China, with a 7.5 pe
March 12, 2012
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Austcham’s Sundowners looks to future
This month’s Sundowners get-together from the Australian Chamber of Commerce will double as a town hall meeting.The social gathering on Friday will offer members a chance to understand what the chamber does and how it delivers its services.Questions to be examined will be identifying the issues facing business, how the chamber can improve its services and what kind of events, forums, speakers and services should the chamber organize.The event will be held at Dominic in Itaewon from 6:30 p.m. and
March 12, 2012
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SMEs role in economy examined by KGCCI
The German chamber of commerce will discuss the role of small and medium-size businesses in the Korean economy in a dinner meeting. The speaker for the event on Thursday, Kim Ki-mun, chairman of Korea Federation of Small and Medium Business, will offer his insight on “Growth of the Korean Economy and the Role of Small and Medium Business.”To be held at the Millennium Seoul Hilton, Kim’s speech will be followed by a question and answer session. To register or for more information, contact Hana Ch
March 12, 2012
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Shindig to warm up Hong Kong 7s
The British Chamber of Commerce and HSBC Bank will hold a warm-up party ahead of the Hong Kong Sevens rugby tournament running later this month.The Hong Kong Sevens is considered the premier tournament in the International Rugby Union Sevens World Series.The local shindig will be held on Thursday at JJ Music room at the Grand Hyatt hotel. Tickets are 58,000 won for members and 68,000 won for non-members. A special discount of 10,000 won will be given to guests wearing a rugby shirt.Hong Kong Sev
March 12, 2012
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Digital marketing tools for local market
The Expert Training Club will present an overview of the nation’s digital marketing tools and usage.The aim of the event will be to explain how companies can effectively reach a target audience and build successful digital campaigns.In small groups, professional experts aim to offer insightful and practical solutions on critical topics. The event takes place on Thursday from 8:30 a.m. at the Grand Ambassador Hotel’s Board Room.The event is only open to French chamber of commerce members and cost
March 12, 2012
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EUCCK events in Seoul, Busan
The European Union chamber of Commerce offices in Seoul and Busan will hold two events this week.The Seoul office will have their monthly luncheon with Korea Customs Service Commissioner Joo Yung-sup on Thursday at the Grand Hyatt hotel’s Regency Room. Joo will discuss the customs administration’s support for Korea-European Union cooperation.Registration for the luncheon begins at 11:30 a.m. To register or for more information, email eupr@eucck.org or call (02) 725-9880. Busan’s office will hold
March 12, 2012
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AmCham meets up this week
Members of the American Chamber of Commerce will start a series of committee meetings Tuesday.The pharmaceutical committee will meet at 11:30 a.m. at the Grand Hyatt hotel to listen to John Lechleiter, chairman president and CEO of Eli Lilly Company, as he gives a speech about medical innovation and how it can lead to not only good health, but economic growth in Korea and the region.The committee said that good health is a fundamental precondition for economic development. The legal affairs comm
March 12, 2012
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Diversifying British Columbia’s Seoul operations
Perched atop the Gangnam Finance Center, Canada’s Pacific gateway office headed by Kim Kyung-suk acts as a connecting point between business leaders from Korea and Canada.The Canadian west coast province of British Columbia offers the shortest transportation routes from Korea to North America, explained Managing Director Kim of the B.C. International Trade and Investment Office.Because of its 58-hour shipping transport lead over other west coast North American ports, British Columbia has positio
March 12, 2012
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FTAs to create jobs and accelerate growth: minister
South Korea should actively pursue free trade agreements (FTAs) with other countries to help create more jobs and spur growth as its domestic market remains relatively small, the country's top economic policymaker said Monday. "As Korea's domestic market size is limited, we must make the
March 12, 2012
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S. Korea's exports fall after FTA with EU: report
South Korea's exports to the European Union (EU) fell after the implementation of the Seoul-Brussels free trade deal due to the region's deepening debt crisis, a report showed Monday.According to the report by the Korea International Trade Association (KITA), South Korea's shipments to the EU in the
March 12, 2012
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Large firms set to scale back capital spending this year
Korea’s large firms are expected to spend less on their facility expansion than last year due mainly to continued economic uncertainties, a report showed on Sunday.According to the report compiled by the Hyundai Research Institute, the nation’s large companies are likely to reduce their capital spending by 2 percent this year.The nation’s 30 largest conglomerates earlier announced that they will invest a combined 150 trillion won ($134 billion) in 2012, up 12.3 percent from the previous year.Of
March 11, 2012
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Seoul to increase support for Middle East work experience
The government said Sunday it will support more than 1,200 young adults in finding work and volunteer opportunities in the Middle East on the back of the region’s construction and investment boom.Under the program aimed at raising “young global leaders,” a total of 1,247 individuals 18 or over will be able to land jobs, internships or volunteer work in the region in 2012, according to the Prime Minister’s Office.This year’s number is more than double last year’s 563, and about 10 percent of this
March 11, 2012
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Korea, Turkey strike deal on key issues in free-trade talks
Korea and Turkey agreed on key issues such as tariff concessions and dispute settlement schemes in their free trade talks, Seoul’s trade ministry said Sunday, raising the prospect of the two countries soon concluding their free trade negotiations.During the four-day meeting in Seoul that started on Wednesday, both countries reached an agreement on tariff concessions and other key issues, while negotiations for service and investment are going to continue, the ministry said.“The agreement at the
March 11, 2012
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Gasoline tax cut debate resurfaces
More Koreans demand tax cut, while policymakers see little benefit Sky-high oil prices are reigniting debate over a fuel tax break, pushing policymakers toward a tricky decision in a crucial election year.With petrol prices across the country setting new records by the day, low-income earners and professional drivers are increasingly blaming their hardships on taxes, which account for more than half of what they pay at the pump.The government, however, appears to be walking a tightrope between t
March 11, 2012
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Solo households change economy
One in four households has just one occupant; companies shiftattention to their potentialThe number of Korean households with only one occupant is on the rise, and local companies are taking increasing notice of their significant purchasing power. Compared with married people, those who live alone tend to eat out in restaurants, enjoy time at cafes, take various hobbyist classes and go to the gym. The demographic’s distinctive preferences for certain goods and services is now generating interest
March 9, 2012
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Watchdog approves Google-Motorola merger
Korea’s antitrust watchdog said Thursday that it has approved Google Inc.’s move to purchase Motorola Mobility “with no stings attached,” saying that it would not restrain competition in related industries.“Based on our reviews of opinions from stakeholders and global coordination (with foreign antitrust watchdogs), we have concluded that the deal would not limit market competition in related industries,” the Fair Trade Commission said in a press release.Google announced in August last year it w
March 8, 2012