Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Court upholds jail term for man who attempted to murder ex-girlfriend
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S. Korea to boost support for single-parent families
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Yellow dust engulfs S. Korea, advisory alert issued
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Lee Jong-sup resigns as envoy to Australia
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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SK E&S absorbs LNG affiliate
SK E&S Co., Korea’s top city gas provider, said on Monday it has absorbed and merged with K-Power, its power-generation affiliate, to boost their liquefied natural gas business. The merger took effect on Monday. Parent company SK Holdings, the country’s No. 3 conglomerate, now holds a 94.13-percent
Aug. 1, 2011
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LG Display may try to increase capital
Despite its recent decision to drastically cut investment, LG Display, the world’s leading LCD-maker, will have a hard time fending off a paid-in-capital increase, according to industry sources.“Everything will weigh on how the company finishes the year, because at the end of the year, the chances a
Aug. 1, 2011
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Doosan chairman emphasizes quality over quantity
Doosan Group chairman Park Yong-hyun on Monday said the company must focus on qualitative growth.In a message posted on the company’s intranet to mark its 115th anniversary, Park said that the company should now focus on qualitative growth and that it should continue trying harder despite its achiev
Aug. 1, 2011
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Hyundai-Kia, Ssangyong sales jump in July
Ssangyong Motor Co., South Korea’s smallest automaker, said Monday its sales surged 46.1 percent to a monthly high in July, fueled by strong exports and domestic demand.The company sold a record 10,763 vehicles last month, compared with 7,369 units a year earlier. Domestic sales rose 28 percent on-y
Aug. 1, 2011
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Big companies join power-saving drive
Corporations seek consulting services to conserve energy, cut costsThese days, SK Group’s headquarters in downtown Seoul starts making ice at 11 p.m. The ice produced overnight cools the building the next day. The “thermal energy storage” system helps the group reduce its peak electricity costs for
Aug. 1, 2011
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Radiation-free food bolsters Korea’s exports to Japan
South Korean food exports to Japan are climbing at the fastest pace on record after radioactive contamination and supply disruptions prompted consumers to switch to overseas producers.Sales of watermelons, tuna and noodles led a 38 percent jump in South Korea’s shipments of food to its Asian neighbo
Aug. 1, 2011
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Gas engines at center of fuel efficiency drive
Aug. 1, 2011
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Auto industry could lead U.S. recovery
Aug. 1, 2011
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China manufacturing exceeds estimates
A Chinese manufacturing index was higher than economists estimated in July, signaling the world’s second-biggest economy is withstanding higher interest rates and tightened credit. The Purchasing Managers’ Index was at 50.7 for July compared with 50.9 in June, the China Federation of Logistics and P
Aug. 1, 2011
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HSBC to sell 195 branches for $1b
Aug. 1, 2011
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Bangkok property boom on the rise
A 77-storey skyscraper is set to become the latest, and tallest, addition to Bangkok’s ever-changing skyline, already transformed by a construction boom that has raised fears of a property bubble.Variously described on Internet forums as looking “like it has been eaten by giant termites” and reflect
Aug. 1, 2011
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Change expected at Samsung to beat Apple, other rivals
Samsung is not a company used to being No. 2 in anything it does, but it appears to be falling behind in preparing for changing business surroundings. At least, this is the case according to Samsung owner Lee Kun-hee who last week publicly castigated his company ― albeit indirectly ― by saying Samsung needs to get going in terms of attaining “soft (ware) power, first-caliber human resources and pa
July 31, 2011
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Yeosu Expo courts more than 45,000 volunteers
Public participation in the upcoming expo in Yeosu is picking up steam as more than 45,000 have applied to volunteer, its steering committee said Sunday.The committee said it had accepted applications between April 1 and July 10 for volunteer work at the event, which will kick off May 12 in Korea’s southern port. Only 13,000 will be selected in April after document examinations, interviews and onl
July 31, 2011
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Choco-Pie building ‘Pie Road’
This is the first installment in a series that spotlights Korean products enjoyed by people abroad. ― Ed. Choco-Pie, the flagship brand of local snack maker Orion Corp., is often called a “little giant” here.It is a small round chocolate pie with a marshmallow center, which is 7 centimeters in diameter and weighs about 35 grams.Since 1974, the Choco-Pie has been enjoyed by every age group of Korea
July 31, 2011
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Joint venture lifts Korea’s Bolivian lithium bid
A Korean consortium forged an agreement with Bolivia’s state-run miner Comibol on Saturday to set up a joint venture to manufacture lithium-ion battery parts, boosting Korea’s bid to preemptively tap the vast Latin American mineral deposits.Under the deal, the Korea Resources Corp., POSCO and Comibol will form a task force next month or so to discuss details, a KORES official said. The scale of in
July 31, 2011
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HSBC to cut more than 10,000 jobs
LONDON (AFP) ― Global banking giant HSBC will announce this week plans to axe between 10,000 and 15,000 jobs in the coming year as part of a drastic cost-cutting drive, a report said Saturday.The bank, headquartered in London but with a major focus on Asia, will unveil the job cuts on Monday as it posts its half-year results, Britain’s Sky News television reported, without citing its sources. The
July 31, 2011
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Israelis protest high cost of living
JERUSALEM (AP) ― Tens of thousands of Israelis took to the streets nationwide on Saturday to protest rising housing prices in the largest turnout in a grass-roots movement that began two weeks ago and is demanding steps from the government to ease the burden.The protests over housing costs have tapped into wider discontent among Israelis over the high cost of living and the growing gaps between ri
July 31, 2011
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GM, Ford, Toyota accept Obama’s efficiency standard
Automakers agreed to double the fuel economy of the vehicles they sell in the U.S. to a fleetwide average of 54.5 miles per gallon by 2025, President Barack Obama said. The White House negotiated the proposal, which will take effect in 2017, with automakers including General Motors Co., Ford Motor Co. and Toyota Motor Corp. The administration proposed a 56.2 mpg requirement last month, up from a f
July 31, 2011
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Moody’s says U.S. should retain top rating
Moody’s says it now thinks U.S. will be able to keep ‘AAA’ ratingWASHINGTON (AP) ― Moody’s Investors Service said late Friday that the United States should be able to keep its “AAA” credit rating as long as Washington works out a deal that lets it continue to pay bondholders.The credit rating agency said it thinks that even if the nation’s $14.3 trillion borrowing limit isn’t raised by Tuesday’s d
July 31, 2011
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Missing pilot took out huge insurance policies before crash
Asiana Airlines Co. remained tight-lipped as it was revealed on Saturday that one of the two still-missing pilots of its crashed cargo plane had taken out a number of different life and property insurance policies a month before the accident.The Boeing-747 aircraft, operated by South Korea's second-largest air carrier, crashed into waters about 107 kilometers west of the southern resort island of
July 31, 2011