Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Asiana to open new Incheon-Istanbul route
Asiana Airlines, the country’s No. 2 air carrier, said Wednesday that it began accepting reservations for its new route Istanbul-Incheon which will operate from March 29.The carrier will offer the flight three times a week ― every Tuesday, Thursday and Saturday ― to the Turkish city and each plane will be able to accommodate 299 people.The flights that will fly from Incheon every Tuesday and Satur
March 9, 2011
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SKT’s iPhone reservations begin
SK Telecom said Wednesday that about 28,000 people had signed up for its to-be-released Apple iPhone 4 in the first seven hours of registration.A total of 28,000 people made their registrations by 2 p.m. and the number was expected to increase to up to 100,000 people by the end of the day, according to company officials.The country’s leading mobile carrier also said that the first group of 10,000
March 9, 2011
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KEPCO to spend $1.8b on smart grid by 2015
Korea Electric Power Corp., Korea’s biggest electricity producer, plans to invest 2 trillion won ($1.8 billion) over the next five years in a smart grid as part of the government’s efforts to reduce carbon emissions. Adding two-way communications and other enhancements to the nation’s current power-transmission grid nationwide by 2030 may cut about 10 percent of Korea’s annual power consumption, w
March 9, 2011
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Busan Jinhae gets $30m German investment
Germany-based industrial pump maker Wilo SE will invest $30 million in the Busan Jinhae Free Economic Zone, the BJFEZ Authority announced Wednesday.A memorandum of understanding for the investment was plan was signed by BJFEZ Authority commissioner Ha Myeng-keun and the German firm’s chief operating officer Holger Krasmann at Busan City Hall on Tuesday. Under the agreement, Wilo SE’s Korean arm Wi
March 9, 2011
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Japan machinery orders increase 4.2 percent
Japan’s machinery orders rose more than economists expected in January, signaling that companies will boost spending as economic recoveries abroad strengthen. Factory orders increased 4.2 percent from December, when they rose 1.7 percent, the Cabinet Office said Wednesday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to climb 3 percent, according to the
March 9, 2011
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Cathay Pacific triples annual profit
Cathay Pacific Airways Ltd. almost tripled annual profit after an increase in passenger numbers and a surge in cargo volumes that made it the world’s largest international air-freight carrier. Net income jumped to HK$14 billion ($1.8 billion) from HK$4.7 billion a year earlier, the Hong Kong-based carrier said in a statement to the city’s stock exchange Wednesday. The airline also said it had agre
March 9, 2011
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Roubini sees double dip if oil hits $140
Nouriel Roubini, the economist who predicted the global financial crisis, said an increase in oil prices to $140 a barrel will cause some advanced economies to slide back into recession. Underlying how fragile the global economic recovery is, Roubini said the European Central Bank may be making a mistake by raising interest rates “too soon” when debt-ridden countries on the euro region’s periphery
March 9, 2011
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Foreign Ministry under fire for FTA translation errors
The Ministry of Foreign Affairs and Trade came under fire for mistranslation of the free trade agreement with the European Union which was signed on Oct. 6, 2010.On Monday the ministry announced that it has agreed with the EU to correct yet more errors found in the Korean version of the agreement, less than two weeks after other mistakes were corrected.On Feb. 25, the ministry announced that mista
March 8, 2011
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Lee urges Samsung to ensure products are competitive
Lee Kun-hee, chairman of Samsung Electronics Co., said Tuesday that the electronics giant should produce more competitive products in order to dominate the global markets. Samsung Electronics is the world’s top maker of computer memory chips, liquid-crystal display panels and flat-screen TVs. It is also the runner-up in the semiconductor market after Intel Corp. and is the No. 2 mobile brand after
March 8, 2011
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Samsung cuts price for Galaxy Tab WiFi version
Samsung Electronics Co. will launch a WiFi-only version of the Galaxy Tab in the domestic market, which is one-third cheaper than its predecessor, the company said Tuesday. Samsung Electronics started to receive pre-orders for the WiFi-only Galaxy Tab at the price of 600,000 won ($536) this week through its online Web site and retail shops in Korea. It did not disclose the launch date.The WiFi-onl
March 8, 2011
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Exports of used cars drop in 2010: KOTRA
Korea’s exports of used vehicles dropped in 2010 from a year earlier, a local trade body said Tuesday, despite a large boost in overseas sales of new Korean cars last year.The country shipped 239,556 pre-owned vehicles to overseas countries last year, down 9.4 percent from 264,742 units a year earlier, according to the Korea Trade-Investment Promotion Agency (KOTRA).Revenue from overseas sales of
March 8, 2011
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Citigroup cuts KOSPI mid-year target
Korea’s KOSPI Index, which posted its biggest monthly decline in two years last month, had its mid-year target cut at Citigroup Inc. on concern higher oil prices will hurt corporate profits.The mid-year estimate for the benchmark stock gauge was reduced to 2,050-2,150 from 2,200-2,300, Citigroup analysts led by Michael Chung wrote in a report dated yesterday. The brokerage increased its Brent crud
March 8, 2011
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Kia China venture to enhance research
Kia Motors Corp.’s China venture will invest about $150 million on a research and development center to produce its own brand of cars, according to the parent of the Chinese partner.The venture, Dongfeng Yueda Kia Motors Co., will start construction this year and will complete building the center by 2015, Jiangsu Yueda Group Co.’s Vice Chairman Shao Yong said in an interview in Beijing.Automakers
March 8, 2011
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GS head stresses technology, mutual growth
GS Group chairman Huh Chang-soo stressed the significance of original technology and mutual growth with suppliers on Tuesday during his visit to a GS Caltex lubricants plant in Incheon, Gyeonggi Province.“GS has been showing a strong performance overseas with its solid base in the domestic market. I believe we can become a leading global firm if we secure original technologies with which we can co
March 8, 2011
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Yuhan-Kimberly gets organic certification
The Anyday feminine hygiene product brand from Yuhan-Kimberly has received eco-friendly certification for five consecutive years. The Well-being Certification, granted by Korea Management Association Registrations & Assessments Inc., recognizes a domestic product’s functionality, safety and its environmental compatibility.As well as existing Anyday products, new Anyday Organic Cotton, made wholly
March 8, 2011
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‘China faces 60% risk of bank crisis by 2013’
China faces a 60 percent risk of a banking crisis by mid-2013 in the aftermath of record lending and surging property prices, according to a Fitch Ratings gauge. Fitch sees the risk of “holes in bank balance sheets” should a property bubble burst, Richard Fox, a London-based senior director, said in a phone interview on March 4. The risk assessment is from a macro-prudential monitor used by the ra
March 8, 2011
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Car output rise in February
Output of five automakers in Korea rose 6.4 percent on-year in February with strong demand at home and abroad also keeping their sales humming, an industry group said Monday.Led by industry leader Hyundai Motor Co. and its affiliate Kia Motors Corp., the automakers produced 297,350 vehicles last month, compared with 279,368 units a year earlier, according to the Korea Automobile Manufacturers Asso
March 7, 2011
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Asian economies in danger of ‘overheating’
Experts warn subsidy spree may store up trouble for the futureKUALA LUMPUR (AFP) ― As prices of food and fuel reach historic highs, Asian nations with a wary eye on Middle East uprisings are doling out subsidies that experts warn are storing up trouble for the future.Robust Asian economies largely escaped the global downturn, and are now in danger of overheating, stoked by low interest rates, dema
March 7, 2011
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Social commerce giant Groupon to launch here
Groupon, a U.S.-based social commerce firm, announced Monday that it will launch here next Monday further fanning competition over the increasingly popular form of cyber-shopping.Ahead of its official launch, it said it would organize a pre-launching event through its website (www.groupon.kr) which offers 1,000 won of Groupon cash to its e-mail subscribers. The figure of subscribers, however, must
March 7, 2011
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Korea ups rare earth reserve target
South Korea is to increase its rare earth reserves to around 1,500 tons by 2014 amid fierce global competition to ensure a stable supply.The new target for a group of 17 scarce metals key to mobile devices, electric vehicles and other high-tech products, would meet the local industrial demand for 100 days, the Ministry of Knowledge Economy said Monday.The government initially set the goal at 1,200
March 7, 2011