Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Greece’s deficit bigger than forecast
Government deficit reaches 10.5% of GDP in 2010, above 9.6% predicted by EUBRUSSELS (AP) ― Greece’s government deficit was significantly bigger than forecast last year, European Union data showed Tuesday, underlining the difficulties the debt-ridden country is having to get its finances under control.Greece’s deficit hit 10.5 percent of economic output in 2010, well above the 9.6 percent the Europ
April 27, 2011
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8 out of 10 employees work late: survey
(MCT)Eight out of ten employees work overtime, half of them without any reward, a study showed Tuesday.In a survey conducted by Saramin, an online recruitment website in Korea, about 75.9 percent of respondents worked overtime, with 45.8 percent of them doing so without proper compensation.More than 54 percent of respondents who worked overtime said they were considering quitting their jobs. Most
April 27, 2011
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World’s largest oil firm to hold board meeting here
The world’s largest crude oil producer Saudi Aramco will hold its annual board of directors meeting in Seoul on Thursday.According to S-Oil, Saudi Aramco chief executive Khalid A. Al-Falih came to Korea on a five-day trip on Monday, during which he will attend the board meeting.The Saudi state-owned firm produces about 3.4 billion barrels of oil on an annual basis, and supplies about 30 percent of
April 26, 2011
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Sakha Republic seeks Korean involvement in resources development
Sakha Republic’s delegation, led by President Egor Borisov, wrapped up its three-day trip to South Korea on Tuesday.Accompanied by 40 government and industry officials, Borisov came to Korea on Sunday to promote Sakha Republic’s economic projects including those involving natural resources development.Taking up about half of Russia’s Far Eastern Federal District, Sakha Republic is the world’s larg
April 26, 2011
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Anti-counterfeit device added to Windsor whisky
The country’s largest spirits distributor Diageo Korea launched a new anti-counterfeiting device Tuesday.The new device, Windsor Protect, is designed so that a 2-millimeter gap is left between the cap and neck of the bottle once it is opened, preventing the bottle from being resealed once the original seal is broken.The device, which according to the company is the most efficient of its kind, will
April 26, 2011
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S. Korea’s biggest food expo opens
South Korea’s largest-ever international food exposition kicked off Tuesday for a four-day run, bringing together more than 1,100 companies from 45 countries.The 2011 Seoul Food Expo will run until Friday at the Korea International Exhibition Center in Goyang, northwest of Seoul, according to its organizer, the Korea Trade-Investment Promotion Agency (KOTRA).The 29th Seoul Food Expo comes as Seoul
April 26, 2011
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KT chairman cool on fee cuts
KT Chairman Lee Suk-chae responded coolly to the government’s demand to lower telecom costs, claiming that companies should be noted for making network investments.In a meeting with reporters in Jeju, Lee said he would discuss multiple measures with the government considering there is a financial burden involved.“Consumers’ money spending pattern has changed and increased in sum with the economic
April 26, 2011
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Will KCC have any teeth against Apple?
Regulator losing public confidence for failing to maintain momentum in queries With Apple yet to break its silence over location data, local authorities face an uphill battle in determining whether the situation warrants real concern. The Korea Communications Commission, the state-run communications regulator, has formally relayed its worries about personal information storage to Apple Inc., the m
April 26, 2011
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Destitution looms for millions of Asians as food prices soar
MANILA (AFP) ― Soaring global food prices threaten to push tens of millions of Asians into extreme poverty and cut the region’s economic growth this year, the Asian Development Bank warned in a report Tuesday.Coupled with skyrocketing oil prices, the spike poses a serious setback for developing Asia after having rebounded rapidly and strongly from the 2008 global economic crisis, said chief ADB ec
April 26, 2011
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Korea to boost energy ties with Latin America
A Korean delegation team led by Second Vice Minister of Knowledge Economy Park Young-june will visit South America from April 26 to May 5 in an effort to boost energy ties with the region, the ministry said Monday. The delegation, which includes officials and local developers, will tour Mexico, Colombia, Venezuela and Peru, the ministry said. Officials from state-run firms Korea Electric Power Cor
April 25, 2011
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Samsung, Sony LCD venture to cut capital
S-LCD Corp., a venture between Samsung Electronics Co. and Sony Corp., said Monday that it will reduce capital through a share cancellation as part of efforts to improve its capital structure.In a regulatory filing, the venture said the number of its shares will be reduced to 660 million from the current 780 million, with its capital base to be cut to 3.3 trillion won ($3.05 billion) from 3.9 tril
April 25, 2011
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LG Uplus launches app that locates local discounts
LG Uplus said Monday it recently launched a location-based social shopping service which enables people to save points or take part in events while they shop in its listed stores.Having launched the service named “Ding dong” last Monday, it is currently offering it in 1,000 locations in Seoul, including at The Face Shop, Beautiplex and some coffee shops and restaurants, said Ro Se-yong, senior vic
April 25, 2011
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Hyundai Motor Group basks in growth streak
Hyundai Motor, Kia, Mobis post record sales with share prices soaringThe share prices of Hyundai Motor Group’s three automotive companies have reached new highs on an almost daily basis in recent months, but experts say there is still room to grow. Share prices of the “Hyundai Three” ― Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. ― have risen at an unprecedented rate over the past yea
April 25, 2011
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Automakers unveil local China brands
Global carmakers adopt China-specific brands seen as tool to wrest technology from abroadSHANGHAI (AP) ― Some of the new Chinese cars unveiled at this week’s Shanghai Auto Show are affordable for millions of buyers ― a happy development for Beijing that might prove costly for the global automakers producing them.General Motors Co. unveiled the 630 sedan, the first model from its new Baojun badge d
April 25, 2011
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Sony ‘rebuilding’ PlayStation Network after outage
NEW YORK (AP) ― Sony Corp. said it is rebuilding its PlayStation Network to bring it back online after an “external intrusion” caused it to suspend the service.The company said it turned off the service, which lets gamers connect in live play, so that it could strengthen its network infrastructure. Qriocity ― the company’s online entertainment platform ― was also affected.“Though this task is time
April 25, 2011
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State regulator launches query on Apple
The state media regulator said Monday it launched an investigation against Apple Inc. over its collection of information of its smartphone users in Korea.The Korea Communications Commission said it requested Apple to promptly answer a questionnaire and return it by “the earliest date.”State authorities asked the company to clarify the duration and regularity of the location information storing on
April 25, 2011
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SK chairman suffers investment loss of over W100b
The chief of SK Group, a South Korean conglomerate, has suffered a loss of more than 100 billion won ($92.5 million) from futures investment, sources said Saturday.The National Tax Service, the country’s tax agency, found that Chey Tae-won had invested in the futures, but lost most of his money, according to the sources. The tax agency launched tax probes into the group’s key affiliates, such as S
April 24, 2011
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Hyundai Motor Group reaches new high in U.S. midsized market
Hyundai Motor Group’s share of the United States’ market for midsized sedans for the first quarter of the year rose to a record high, industry data showed Sunday.According to industry data, 66,554 units of Hyundai Motor Co.’s Sonata and Kia Motors Corp.’s K5, known as the Optima in overseas markets, were sold in the U.S. during the first three months of the year, giving the companies’ a combined m
April 24, 2011
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Struggling chaebol take out loans on stocks
Owners of top industrial companies took out loans against their own shareholdingsOwners of some of the nation’s top “chaebol” industrial groups have obtained loans from creditors by offering nearly all of their own company stocks as collateral, data from the Financial Supervisory Service and online corporate sources showed on Sunday.Almost 80 percent of Dongbu Group Chairman Kim Jun-ki’s 15.41 mil
April 24, 2011
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GM likely to retake No. 1 spot from Toyota
The auto giant’s sales are up in U.S. and China, coming back from bankruptcyDETROIT (AP) ― General Motors is almost certain to claim the title of world’s biggest automaker this year, retaking the top spot from Toyota, which has been hurt by production problems since the Japanese earthquake and still can’t escape the shadow of major safety recalls.The No. 1 title, a morale booster for the winner’s
April 24, 2011