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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From fake prostitution ring to nonexistent robber, prank calls hamper police
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Top prosecutor orders speedy investigation into first lady's alleged acceptance of luxury handbag
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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Livestock farmers to get cash subsidies over FTA
Livestock and dairy farmers who are hurt by free trade pacts will be eligible to receive direct cash assistance from the government, the Farm Ministry said Wednesday.The ministry said it has set up an evaluation system to measure fallout in the livestock sector caused by opening the domestic market to cheaper meat and dairy products from abroad.It said cash assistance will be given if prices of locally produced farm products such as meat, milk and eggs fall noticeably after a free trade agreemen
Feb. 29, 2012
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KCCI advises companies to cut prices in U.S. market
The Korea Chamber of Commerce and Industry advised Korean businesses to preemptively lower prices in the U.S. market to make good use of the free trade agreement with the world’s largest economy, which goes into effect on March 15.“The United States is our second largest export market after China, but it is actually the most important strategic point for exports,” the KCCI said in report released Tuesday.“Korean businesses should take the FTA as an opportunity to raise their U.S. market share ―
Feb. 28, 2012
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Conglomerates encroach on SME biz areas: report
Korea’s large family-owned conglomerates encroached on business areas fit for small and medium enterprises, a report by the country’s corporate watchdog said Tuesday.The Fair Trade Commission report showed 74 affiliates of 22 conglomerates doing business in such areas as retails, import and distribution, and so-called maintenance, repair and operations.It said of these companies, 17 were owned or managed by the children of the business groups such as Samsung, Lotte and Shinsegae.The antitrust co
Feb. 28, 2012
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S. Korea posts current account deficit of $770 mln in January
South Korea posted a current account deficit in January for the first time in two years as exports slumped amid the eurozone debt crisis, the central bank said Tuesday.The current account deficit reached $770 million last month, shifting from a surplus of $2.81 billion the previous month, according
Feb. 28, 2012
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Korea, China, Japan to meet on investment
Korea, China and Japan will hold a meeting this week for a three-way accord aimed at promoting corporate direct investment, Seoul’s Trade Ministry said Monday.The gathering will be held in Tokyo from Tuesday to Thursday, the ministry said.The three nations have been negotiating the trilateral investment treaty since 2007 and the upcoming round of talks may be the last one to finalize the terms of the accord, officials said.The pact may be signed by the leaders of the three nations in May when th
Feb. 27, 2012
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Linked workshop for sales professionals
Linked Seoul, a business networking community, plans to hold a hands-on workshop in Seoul on March 6 for salespeople.The seminar is designed to help salespeople apply a variety of tools and techniques by using practical skill-building exercises.The workshop will be at the Renaissance Hotel’s Orchid Room in southern Seoul from 7-9 p.m. Attendance is 25,000 won and it will start with a networking session before the workshop. More information can be found at www.linkedseoul.org.
Feb. 27, 2012
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KFDA commissioner to discuss policy direction
Commissioner Lee Hee-sung of the Korea Food and Drug Administration will speak about the government’s new policy at a luncheon meeting on Feb. 29 organized by the European Union Chamber of Commerce in Korea.The KFDA is out to enhance preventive risk management systems, tighten safety management from raw materials to the final product, support competitive new industries, and reform regulations to promote autonomy and fairness.Cost for the luncheon is 100,000 won. To reserve a seat, contact Jeon H
Feb. 27, 2012
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AMCHAM to examine IPR during luncheon
The American Chamber of Commerce will hold a luncheon meeting on March 7 to discuss the new intellectual property rights in a free trade era.Lim Won-sun, director general for Korea Intellectual Property Office, is scheduled to speak at AMCHAM’s IPR committee meeting regarding new changes to the copyright law. He was in charge of the copyright law amendments for the implementation of the Korea-U.S. and EU free trade agreements.Enquiries or to register, contact AMCHAM at (02) 6201-2200, e-mail amc
Feb. 27, 2012
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Lecture on digital marketing in China
The China Europe International Business School’s Seoul office is hosting CEIBS dean professor John Quelch to deliver his newly crafted presentation on his latest passion, digital marketing in China, this week.Drawing upon his quarter of a century of experience at Harvard Business School and three years as Dean of the London Business School, Quelch will touch on the impact of such revolutionary trends as China’s growing hunger for online gaming, micro-blogging, Weibo (Chinese Twitter) and virtual
Feb. 27, 2012
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ING art exhibition displays nature’s elements
The ING N.V. Seoul branch is running their annual in-house art exhibition project with the goal to enrich the cultural experience of their clients and employees and to promote young local talent.The project introduces artists whose works reflect a modern take on the traditional Korean art forms and concepts.This year’s program is titled “Naturally Beautiful: Earth, Wind, Fire and Water,” the three elements that is represented on the Korean flag.The works are on display at the ING Seoul Branch of
Feb. 27, 2012
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Potential for Yeosu is in tourism: Italy
Italy’s commissioner for Yeosu seemed impressed with the environment around Yeosu, the site for Expo 2012, but expressed some concern that the region was not living up to its full potential.“Tourism can give a helping hand providing it is sustainable, that it is not this cynical utilization or cementification of the coast which sometimes occurs,” Claudio Moreno told The Korea Herald.Italy is a peninsular country, like Korea, with a highly developed northern region and a lesser developed southern
Feb. 27, 2012
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Childbirths in Korea rise in 2011
The number of children born in Korea increased for the second straight year in 2011, amid concerted efforts to bolster the country’s low birthrate, a government report showed Monday.According to the report by Statistics Korea, the number of newborns totaled 471,400 last year, a gain of 1,200, or 0.3 percent, from the 2010 tally. The gain was attributed mainly to more couples opting to have their first and third child last year.Reflecting this, the number of first and third-borns edged up 1.7 per
Feb. 27, 2012
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Korean or Western titles, that is the question
The Korean title system, the Western title system or a mix of both; the question is, which one is better? In the end, it depends on what the company wants to achieve.“Some people might say that one is better than the other, and the more we study it, the more we find that there is no system that supersedes any other,” said Zuellig Pharma Korea president Christophe Piganiol.The head of the pharmaceutical giant has been studying the different systems with the aim of better understanding what drives
Feb. 27, 2012
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Korea braces for oil price spike
With crude prices spiraling out of control amid tensions surrounding Iran, concerns are surfacing of a fresh oil shock. Korea’s benchmark Dubai crude jumped to $121.57 a barrel, the highest since August 2008, on Singapore’s spot market on Friday. Brent crude, a global yardstick, touched a nine-month high of $125 a barrel.Korea, the world’s fifth-largest crude buyer, imports almost of its oil needs.Runaway fuel costs are threatening to push up consumer prices and in turn jeopardize the central ba
Feb. 26, 2012
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Daewoo Shipbuilding taps new CEO
Daewoo Shipbuilding and Marine Engineering has decided to promote senior executive vice president Ko Jae-ho to its new chief executive.The decision was made when the firm’s CEO candidate recommendation committee on Friday picked Ko out of five candidates.The committee consists of three outside directors of DSME, two people from DSME’s major shareholder Korea Development Bank and one from Korea Assset Management Corp. Ko’s nomination will be finalized at the shareholder meeting late next month af
Feb. 26, 2012
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Household income disparity widened in 2011: report
The income disparity between the rich and the poor in Korea widened last year as the proportion of the middle class shrank, data showed Friday. According to the report by Statistics Korea, Gini’s coefficient, the indicator showing the income gap between the wealthy and the poor, stood at 0.311 in 2011, up from 0.310 a year earlier, suggesting the equality level for income distribution worsened. Another indicator ― the market income ratio that compares the upper 20 percent and the lower 20 percen
Feb. 24, 2012
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Sohn Kyung-shik reelected as Seoul chamber chief
CJ Group chairman Sohn Kyung-shik was reelected as the chairman of the Seoul Chamber of Commerce and Industry during its general assembly, its chamber officials said Friday.In a unanimous vote, Sohn’s term as chief of the Seoul chamber composed of the country’s largest businesses was extended by three years. Sohn began leading the SCCI in November 2005. “Due to the economic crisis in European countries, our economy is also going through tough times,” said Sohn. “I’ll give my utmost efforts to re
Feb. 24, 2012
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Korea targets $13b in foreign investment
The Seoul government said Friday it will step up investor relations and focus on attracting projects with major employment plans this year, targeting $13 billion in foreign investment.Foreign direct investment in Korea reached $13.67 billion last year.“The Korea-U.S. free trade agreement, which goes into effect on March 15, will be a good opportunity to not only raise the competitiveness of our exports to the U.S., but also to make Korea a more attractive place for foreign investment,” Knowledge
Feb. 24, 2012
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Nuclear industry leaders to discuss improving safety on summit sideline
Conference to discuss security of nuclear materials, reduction of HEU useKorea will host its biggest-ever international conference on nuclear power March 23-24 in conjunction with the Seoul Nuclear Security Summit to be held three days later.More than 200 chief executives of nuclear power companies and representatives of related international organizations are expected to attend the 2012 Seoul Nuclear Industry Summit to discuss the role of the nuclear industry in enhancing nuclear security and s
Feb. 23, 2012
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Korea’s economic growth outpaces OECD average
Korea outgrew the average economic output of Organization for Economic Co-operation and Development member countries in the final quarter of last year, data showed Thursday, showing the country’s relative resilience against external economic risks.The South Korean economy expanded 3.4 percent on-year in the October-December period, compared with an average growth of 1.3 percent of OECD member countries in the same period, data showed.The fourth-quarter average economic growth of OECD countries w
Feb. 23, 2012