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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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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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 Group to invest W10.5tr in 2011
Telecom, energy giant to focus on green energy, overseas resources, new mobile technologiesSK Group said Thursday it would increase investment 30 percent this year to a record high 10.5 trillion won ($9.4 billion) to power future growth in clean energy, overseas resources and advanced mobile technologies.Korea’s third-largest conglomerate also plans to hire about 3,000 new employees, 25 percent mo
Jan. 13, 2011
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Renault-Nissan ups cooperation with Korean parts makers
Renault-Nissan Alliance held its annual purchasing conference in Seoul this week, opening new opportunities for local parts makers, Renault Samsung Motors Co. said Thursday.The conference, held Monday and Tuesday by Renault-Nissan Purchasing Organization that oversees purchasing and quality control of parts for Renault and Nissan operations, is customarily held at the headquarters of Renault or Ni
Jan. 13, 2011
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Major retailers gear up for online shopping boom
Lotte, Shinsegae, Hyundai speed up expansion of Internet, mobile businessesKorea’s large retailers are gearing up for intensifying competition online as virtual marketplaces grow on the back of popular mobile computing and social media.Lotte Shopping, Shinsegae Group and Hyundai Department Store are strengthening their Internet and mobile business operations with plans to open new shops, broaden p
Jan. 13, 2011
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SK Telecom chief to spur network evolution
Ha focuses on speed, openness and collaborationSK Telecom Co., the nation’s top mobile carrier, will speed up its transition to the next-generation network and boost cooperation with application developers and suppliers, its new chief executive said on Wednesday.In his first news conference since taking office on Jan. 1, Ha Sung-min, 54, unveiled a new management strategy focused on speed, opennes
Jan. 13, 2011
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Hyundai Oilbank union renounces strikes
Workers entrust wage decision to management in return for job securityThe trade union of Hyundai Oilbank Co., the nation’s smallest oil refiner, pledged to refrain from labor strife this year to concentrate on boosting the firm’s competitiveness, the firm said Wednesday. In a ceremony held in Seoul, the refiner’s union members voluntarily entrusted the management with a full right to decide on the
Jan. 12, 2011
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Stem cell breakthrough may solve blood shortage
U.S.-based researchers have succeeded in developing blood platelets on a large scale using human embryonic stem cells, paving the way for the mass production of artificial blood.The research conducted by U.S. biotechnology firm Advanced Cell Technology and Korea’s Cha Medical Group’s U.S. unit reported the research in life sciences journal “Cell Research.“The development, which has been successful
Jan. 12, 2011
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LG Electronics aims for $10b air conditioner sales in 2013
LG Electronics Inc. said Wednesday it aims to post $10 billion in global air conditioner sales in 2013, a goal that is forecast to propel the consumer electronics giant’s growth in the international market.“LG Electronics hopes to post $10 billion in global air conditioner sales in 2013,” said Nho Hwan-yong, head of the air conditioner business, in a press conference.The company also aims to sell
Jan. 12, 2011
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Demand outpaces supply for Hyundai in U.S.: CEO
DETROIT (AFP) ― Hyundai is ramping up production in the face of growing U.S. demand but will likely not be able to build enough vehicles to satisfy all prospective buyers, the head of U.S. operations told AFP.“Our challenge is going to be can our plants supply what we think will be a remarkable consumer demand,” John Krafcik, president and chief executive officer of Hyundai Motor America, said Mon
Jan. 12, 2011
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MySpace cuts nearly half its global staff
LOS ANGELES (AP) ― Struggling entertainment site MySpace said Tuesday that it is cutting nearly half of its staff worldwide, or about 500 people, after an extensive revamp in October overhauled its look and allowed it to be run with fewer people. The cuts, part of a two-stage layoff plan, better position the site for a possible sale or spin-off by parent News Corp.Mike Jones, the chief executive o
Jan. 12, 2011
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Detroit auto show rebounding after recession
DETROIT (AP) ― The sunny yellow Ford C-Max minivan that greets visitors at this year’s Detroit auto show says it all. After taking a pounding during the recession, the U.S. auto industry is full of optimism, and a strong mix of new products will greet buyers as they return to dealerships.“Looking around at what’s at the show, we’ve never been happier,” said Mike Jackson, the CEO of AutoNation Inc.
Jan. 12, 2011
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Kia hits the spot as first choice of new Samsung executives
Kia Motors Corp.’s sedans proved once again to be the most popular among Samsung Group’s executives this year.Among the 318 newly appointed executives, 78.6 percent picked Kia’s K7 and Opirus as their company cars. They joined the executive ranks for the first time in the latest reshuffle on Dec. 8.The Opirus held sway with nearly half, with 155 choosing the model. It maintained its status as the
Jan. 12, 2011
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3-D vision, smart devices sum up electronics show
CES dominated by new models of 3-D televisions, tablet PCs and upgraded smartphonesLAS VEGAS ― The world’s largest technology tradeshow bore witness to several major technology trends that can be summed up as: 3-D vision and “smart” devices.Top electronics firms showcased upgraded 3-D televisions that promised to become more comfortable living room features by becoming bigger, yet thinner, and mor
Jan. 12, 2011
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LG targets double-digit growth in home appliance sector: exec
LG Electronics said Tuesday it would seek to consolidate its status as one of the world’s largest home appliance makers by 2014 by taking advantage of “smart” technology.The firm said in a statement it would target double-digit sales growth from its home appliance business this year and was aiming for sales of $20 billion from the sector in 2014.“This year will be the beginning of a new era of hom
Jan. 11, 2011
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Intel to pay $1.5 billion to Nvidia
SAN FRANCISCO (AP) ― Intel Corp. is paying $1.5 billion to end a fight it started with Nvidia Corp. over a key computer technology.The legal battle centered Nvidia’s ability to make “chipsets” that are compatible with Intel’s latest processors ― a fight that has implications for many of the world’s computer users, since Intel and Nvidia’s chips are ubiquitous.Nvidia is a top maker of graphics chip
Jan. 11, 2011
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GM Daewoo aims to export 1.8 million units this year
GM Daewoo Auto and Technology Co. aims to export more than 1.8 million vehicles and knockdown kits under the Chevrolet brand this year, its president Mike Arcamone said Monday.The Korean unit of GM will also launch eight new vehicles to Korea, instead of the originally planned seven, this year. Four of the eight models will be those in segments the company does not currently compete in, he added.H
Jan. 11, 2011
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Hyundai prioritizes quality, image
Top Korean carmaker confident of raising U.S. market share to 5 percentHyundai Motor Co. will focus on boosting quality and brand image as it steps up its challenge for global automobile leadership, vice chairman Chung Eui-sun said Monday. “Hyundai’s biggest challenge is to secure competitiveness in terms of quality in order to improve the brand image,” Chung said at the North American Internation
Jan. 11, 2011
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Facebook eclipses Twitter in Korean Web traffic
After a year of fiery growth, micro-blogging site Twitter is seeing a sharp drop in traffic in Korea while social networking hotspot Facebook continues to grow, figures show. According to Internet market research firm KoreanClick on Monday, Twitter’s page views in the last week of 2010 fell to about 25 million from nearly 45 million three months ago. The number of unique visitors ― people who visi
Jan. 11, 2011
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Low-cost carriers fare well in 2010
Korea’s low-cost airlines showed improved performances last year thanks to a surge in demand for air travel and expanded routes, industry data showed Monday.The country’s biggest discount carrier Jeju Air Co. posted 158 billion won ($143 million) in sales last year, up 80 percent from a year earlier, data showed. It did not post its operating profit, but its operating loss came to a smaller-than-e
Jan. 10, 2011
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Eco-friendly crude ship built by Hyundai
Hyundai Heavy Industries has delivered the world’s first crude oil carrier fitted with equipment for treating ballast water, the firm announced Monday. Empty vessels are balanced by ballast water, which is then emptied out when cargo is loaded at ports. This practice can transport non-indigenous organisms to waters across the world, damaging foreign ecosystems.With the International Maritime Organ
Jan. 10, 2011
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GS Group to invest W2.2tr, aim for W55tr sales
Energy, retail giant plans to hire 2,800 new employeesGS Group plans to increase its investments 10 percent to more than 2.2 trillion won ($1.9 billion) this year to strengthen its core businesses of energy, retail and construction and expand overseas activities. Korea’s seventh largest business group said on Monday it aims to post 55 trillion won in sales, up 5.7 percent from last year. “While fo
Jan. 10, 2011