Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Aging population to drive down Korea's housing prices from 2040: experts
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North Korea holds drills simulating nuclear counterattack against enemy
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KOTRA to support firms’ online marketing
The state-run Korea Trade-Investment Promotion Agency said Monday that it will start assisting local firm’ overseas marketing through online social media. The trade body’s latest move comes as the world’s e-commerce market has been growing rapidly in recent years to reach a size of $9 trillion as of last year, KOTRA said.KOTRA will promote local information technology companies through social netw
March 28, 2011
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Venture aims at billion-seller apps
Podotree, a recently-launched local mobile application venture firm, announced Monday that it aims at 1 billion downloads and 1 trillion won in sales within the next five years.In a press conference held in downtown Seoul, it unveiled its lineup of four applications in three different genres ― story of mankind, inspiring toy and study 101.“The role of podotree is meaningful in that it is not fight
March 28, 2011
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Samsung, Sumitomo Chemical to align on key LED component
Samsung LED Co. on Monday said that it has agreed with Japan’s Sumitomo Chemical Co. to form a joint venture to produce sapphire wafers that are necessary components of light-emitting diode, a semiconductor light source.The LED manufacturer said the 50-50 venture will be capitalized at 80 billion won ($72 million), with production of sapphire ingots and wafers scheduled to begin early next year.Th
March 28, 2011
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Sony Ericsson smartphone to debut in Korea in April
Sony Ericsson on Monday said it will be releasing its new smartphone, “Xperia Arc” in South Korea next month through SK Telecom. South Korea will be the second nation to see the launch of Xperia Arc, following the firm’s home turf of Japan.“We want Xperia Arc to be known not only for its design, but as a phone defining new smartphone standards,” said Han Youn-hee, head of the firm’s South Korean m
March 28, 2011
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Renault Samsung exports top 400,000
Carmaker bounces back from 2009 slump with bumper year for overseas shipmentsRenault Samsung Motors Co. announced Monday that its exports since 2000 broke the 400,000 mark on March 25.According to the company, with a Kuwait-bound ship carrying 1,023 cars leaving Busan port, its cumulative exports since September 2000 rose to 400,250 units. Renault Samsung Motors Co. vehicles wait to be loaded on
March 28, 2011
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Japan Airlines focuses on tie-ups as it exits court protection
Japan Airlines Corp., once the world’s largest international carrier, is set to emerge from bankruptcy administration this week as a smaller company more reliant on Asian routes and global partners. JAL has scaled back its global network, chopping 49 routes, including Sao Paulo, Amsterdam and Milan, and grounding the last remnants of what was the world’s largest Boeing Co. 747 fleet as it cuts 103
March 28, 2011
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Porsche to start $7b share sale to cut debt burden
Porsche SE, the sports-car maker that plans to merge with Volkswagen AG, will start 5 billion euros ($7 billion) share sale March 30 to reduce debt. The carmaker’s supervisory and executive boards signed off on the plan to sell shares at 38 euros apiece to current owners, Stuttgart, Germany-based Porsche said in a statement late Sunday. One existing share carries the right to subscribe to 0.75 new
March 28, 2011
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Tepco chief pressured to quit on reactor crisis
Tokyo Electric Power Co. President Masataka Shimizu is facing calls to quit after the crisis at the utility’s Fukushima Dai-Ichi nuclear plant capped a tenure that has seen $26 billion wiped off the company’s market value. The share price decline since Shimizu took charge in June 2008 at Tepco, as the company is known, has deepened to 67 percent in the aftermath of the nuclear disaster, as of the
March 28, 2011
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Sinopec to cut costs, expand overseas
China Petroleum & Chemical Corp., Asia’s biggest refiner, will cut costs and accelerate its expansion overseas as government controls prevent the company from passing on higher crude-oil prices to customers.Profit rose 14 percent to a record 71.8 billion yuan ($11 billion) last year, the company known as Sinopec said Sunday. Net income missed analysts’ estimates and trailed Cnooc Ltd.’s 85 percent
March 28, 2011
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Air China raises fuel surcharge: Xinhua
surcharge on flights from China to Europe, excluding Russia and Turkey, to 1,000 yuan from 950 yuan per passenger, the official Xinhua News Agency reported. The increase is effective from April 1, according to the report.Hong Kong Dragon Airlines Ltd. raised its fuel surcharge from April 1 for flights from China to Hong Kong to $24.90 per passenger, Xinhua reported, without saying what the previou
March 28, 2011
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Wal-Mart to reopen half of Japan stores
Wal-Mart Stores Inc., the world’s largest retailer, is resuming normal operations at half the stores hampered by Japan’s strongest earthquake as residents struggle to find water, food and other necessities. A dozen of Wal-Mart’s Seiyu stores in the quake-hit Sendai area are restarting full operations Monday after being limited mostly to relief efforts for two weeks, Scott Price, Wal-Mart’s Asia ch
March 28, 2011
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Nintendo ready to take 3-D gaming to mass market
NEW YORK (AP) ― With the Nintendo 3DS, the Japanese video game company is betting that it can once again nudge mass entertainment in a new direction, just as it did nearly five years ago when it launched the Wii with its innovative motion-based controller.This time, though, the competition from other devices is tougher.The handheld 3DS, which goes on sale in the U.S. on Sunday for $250, lets users
March 28, 2011
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Construction sector shrinkage steepest in over a decade
South Korea's construction sector contracted at the sharpest rate in more than a decade in the fourth quarter of last year due mainly to a protracted property market slump, data showed Monday. The construction sector shrank 5.3 percent in the fourth quarter from three months earlier, according to the data by the Bank of Korea and Statistics Korea. The on-quarter decline is the steepest since
March 28, 2011
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Hyundai Heavy provides power generators for Japan
Hyundai Heavy Industries Co.’s transportable power-generating equipment to be delivered to Japan is loaded onto a ship at a port in Ulsan on Saturday. (Hyundai Heavy Industries Co.)Hyundai Heavy Industries Co., the world’s top shipbuilder, said Sunday that it sent four power generators to Japan over the weekend in support of the disaster-stricken country’s efforts to ensure a stable electricity su
March 27, 2011
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SK head spurs resources development in Middle East
SK Group chairman Chey Tae-won has launched a business trip to countries in the Middle East including Saudi Arabia and Kuwait in a bid to boost his company’s resources development. During his trip from March 24-April 4, Chey is to discuss ways to bolster cooperation with the region’s leading oil firms including Saudi Arabia’s state-owned Aramco, Saudi Basic Industries Corp., and Kuwait Petroleum C
March 27, 2011
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Lotte balks at Homeplus chicken jibe
Retailer considers action against rival over using comparative advertisingTwo of Korea’s biggest supermarket chains are at loggerheads over advertisements for super-cheap chicken.Homeplus, the country’s second-biggest supermarket chain, began selling raw chicken for as low as 1,000 won ($0.89) Thursday. Securing a total of 200,000 raw chickens, its 122 branches nationwide are selling up to 250 chi
March 27, 2011
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Western DIY outlets retreat in China
At a near-empty B&Q home improvement outlet in Beijing, much of the foot traffic is due to the location of a public toilet next to the entrance ― not the store’s patio furniture or circular saws.It’s a sign of how foreign “do-it-yourself” big-box chains have struggled to attract customers in China, where homeowners have little experience in renovating apartments and prefer to pay low-wage decorators to do it for them.“Do-it-yourself is not popular in China,” Shaun Rein, managing director of Chin
March 27, 2011
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Baidu rises to record in U.S. on report of new products
Baidu Inc., owner of China’s most popular online search engine, rose to a record in U.S. trading after reports about new services the company is developing. The company said it is testing Web browsing software for personal computers, following a report earlier this week that it is planning to develop a mobile operating system. Sina Corp., which owns the Twitter-like Weibo in China, also jumped to
March 27, 2011
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Global automakers may lose 600,000 vehicles
Quake halts assembly lines and work at suppliers including paint pigment makerGlobal automakers may lose production of 600,000 vehicles by the end of the month as the earthquake in Japan halts assembly lines and work at suppliers including the maker of a paint pigment. About 320,000 vehicles may have been lost worldwide as of March 24, and manufacturing at plants in North America may be affected w
March 27, 2011
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Fed’s Bullard says ‘pretty good’ U.S. economy may allow early end to QE2
U.S. Federal Reserve policy makers should review whether to complete a second round of quantitative-easing purchasing due to end in June because of strong U.S. economic data, Federal Reserve Bank of St. Louis President James Bullard said. “The economy is looking pretty good,” Bullard told reporters in Marseille, France, Saturday. “It is still reasonable to review QE2 in the coming meetings, especi
March 27, 2011