Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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KORES bids for Mongolia coal mine
An international consortium led by Korea Resources Corp. recently submitted a bid to develop a coal mine lot in Mongolia, the state-run resources developer said Monday.The consortium of nine Korean, two Russian and four Japanese companies seeks to obtain the right to develop the Tavan Tolgoi mine. The region has one of the world’s largest untapped deposits of coal for making steel with around 1.2
Feb. 1, 2011
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Korean investors in Egypt begin exodus
Korean businesses and investors in Egypt are facing inevitable damage to their operations due to increasingly violent protests there, with many of them forced to stay indoors or have their family members leave the country in a hurry, a local trade body said Monday.Many companies, including Samsung, LG and Hyundai Motor, have decided to immediately bring home the families of their workers in the Ar
Jan. 31, 2011
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NPS plans to use W300b more to buy bad debts
Korea’s national pension fund plans to spend 300 billion won ($267.3 million) down the road in order to take over bad debts from distressed commercial banks, the fund’s top manager said Monday. “The National Pension Service has recently decided to invest an additional 300 billion won in funds to buy non-performing loans as part of our alternative investment expansion,” Chairman Jun Kwang-woo said
Jan. 31, 2011
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LG Uplus back to loss in Q4 on costs
Korea’s smallest mobile carrier, LG Uplus Corp. said Monday that it swung into the red in the fourth quarter of 2010 from one year ago, hurt by depreciation costs. Net loss stood at 49.2 billion won ($44.1 million) in the October-December period, compared with a 78.4 billion won net income a year earlier, the company said in a regulatory filing. The mobile operator said it had lost money in the th
Jan. 31, 2011
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Chip exports may reach $52.5b in 2011
Korea’s computer chip exports are expected to reach $52.5 billion in 2011, fueled by greater overseas demand for system semiconductors, the government said Monday.The total represents a growth of 3.5 percent compared to the previous year, with outbound shipments of system semiconductors used to make products like smartphones and tablet PCs expanding 18.7 percent on-year to $19.1 billion, the Minis
Jan. 31, 2011
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China seeks maximum fine for Carrefour
SHANGHAI (AFP) ― China price regulators are seeking to fine French retail giant Carrefour 2.5 million yuan ($380,000) ― the maximum fine for overcharging customers, state media reported Sunday.Municipal regulators fined three Carrefour stores in Shanghai and two in southwest China’s Yunnan province 500,000 yuan each on Saturday, the official Xinhua news agency reported.However, the final fine will
Jan. 31, 2011
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KEPCO narrows loss on higher prices, won
Korea Electric Power Corp., the country’s biggest electricity producer, posted a narrower fourth-quarter loss after the government allowed power prices to increase for the first time in more than a year and a stronger won cut the cost of its foreign-currency loans.The loss shrank to 18.2 billion won ($16.2 million) in the three months ended Dec. 31 from a deficit of 336.4 billion won a year earlie
Jan. 31, 2011
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S-Oil assists scientific research
S-Oil Corp., Korea’s third-largest oil refiner, established a scholarship foundation Monday to support science studies and research, the firm said. The S-Oil Science Prodigy and Culture Foundation will offer scholarships to outstanding science or engineering university students and fund research institutes’ projects. The firm will invest 2.1 billion won ($1.8 million) in the foundation this year,
Jan. 31, 2011
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Hyundai Heavy delivers a record 1,700th ship
Hyundai Heavy Industries Co. has delivered its 1,700th vessel, becoming the world’s first shipyard to pass the milestone figure, the firm announced Monday.The shipyard’s 1,700th vessel, a car carrier capable of loading 8,100 vehicles, was delivered to the Seoul-based EUKOR Car Carriers Inc. EUKOR Car Carriers is one of the world’s largest shipping firms specializing in automobile transportation, a
Jan. 31, 2011
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KT’s new broadcast satellite begins operation
Olleh-1 satellite allows high-definition images and 3-D programsKT Corp is to begin offering commercial high-definition digital images and 3-D programming services after its new broadcast satellite entered geostationary orbit earlier last month, the company said Monday.The Olleh-1 satellite has also successfully taken on the services formerly provided by broadcast and communication satellite Mugun
Jan. 31, 2011
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Japan industrial output gains most in 11 months
Japan’s industrial production increased the most in 11 months in December, boosted by overseas demand that’s spurring the nation’s recovery. Factory output climbed 3.1 percent from November, when it rose 1 percent, the Trade Ministry said in Tokyo Monday. The median estimate of 29 economists surveyed by Bloomberg News was for a 2.8 percent gain. Honda Motor Co. and Nissan Motor Co. are among compa
Jan. 31, 2011
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Watchdog probing Korean Air for alleged price fixing
South Korea's anti-trust watchdog is investigating price-rigging allegations that Korean Air, the nation's flag carrier, colluded in fixing prices with a Mongolian airline company for flight services to the central Asian country, officials said Monday. The investigation by the Fair Trade Commission (FTC) focuses on relatively expensive flight ticket prices between Incheon and Ulan Bator offere
Jan. 31, 2011
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Zuckerberg 'friends' actor in Facebook movie
The Oscar-nominated movie "The Social Network" paints an unflattering portrait of Mark Zuckerberg but the Facebook founder apparently doesn't hold a grudge.Zuckerberg, 26, came face-to-face during a guest appearance on the popular NBC comedy show "Saturday Night Live" with Jesse Eisenberg, who received a "Best Actor" nomination for his portrayal of the Facebook creator. Jesse Eisenberg (left, MCT)
Jan. 31, 2011
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S. Korea's industrial output grows 9.8 pct in Dec.: govt report
South Korea's industrial output grew for the 18th straight month in December, suggesting the economic recovery remains on track, a government report showed Monday. According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 9.8 percent last month from the same month a year earlier. The output has expanded since July 2009. Production grew 2.8 p
Jan. 31, 2011
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S. Korea's manufacturing sentiment falls for Feb.
South Korean manufacturers' business confidence inched down for February on concerns that rising raw material prices could crimp their profitability, the central bank said Monday. The index of manufacturers' outlook on business conditions reached 91 for February, down from 92 for January, according to the Bank of Korea (BOK). The index measures manufacturers' outlook on business conditions for
Jan. 31, 2011
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S. Korea's semiconductor exports to reach $52.5 bln in 2011: gov't
South Korea's computer chip exports are expected to reach $52.5 billion in 2011, fueled by greater overseas demand for system semiconductors, the government said Monday. The total represents a growth of 3.5 percent compared to the previous year, with outbound shipments of system semiconductors used to make products like smartphones and tablet PCs expanding 18.7 percent on-year to $19.1 billion
Jan. 31, 2011
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LGE to showcase air conditioners at U.S. show
LG Electronics, Korea’s second-largest electronics maker, is to showcase its key air conditioning products at a trade fair in Las Vegas this week.Its highly efficient and environment-friendly commercial air conditioners will be displayed at a 200 square-meter booth at the AHR Expo, the world’s largest international tradeshow for heating, ventilation, air-conditioning and refrigeration industries,
Jan. 30, 2011
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SK chairman spurs overseas resources development
SK Group chairman Chey Tae-won will visit Brazil and Australia this week to speed up the group’s overseas resources development, SK officials said Sunday. The trip follows Chey’s participation in the Energy Summit session at the World Economic Forum in Davos, Switzerland, from Jan. 26-30. Chey will first visit Brazil to meet with Eike Batista, CEO of Brazil’s largest resources firm EBX. They will
Jan. 30, 2011
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POSCO secures Africa resources deals
POSCO has forged agreements with African partners to spur its move to develop natural resources in the region, the world’s No. 4 steel producer said Sunday.During a week-long visit that ended Saturday, chief executive Chung Joon-yang agreed to jointly develop an iron ore mine in Cameroon, a company statement said. The Mbalam mine is expected to annually produce about 35 million tons of high-qualit
Jan. 30, 2011
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Macworld shines without Apple
SAN FRANCISCO (AFP) ― From star-gazing iPad applications to crystal-encrusted iPhone cases, a universe of products spun off of Apple gadgets flourished at Macworld Expo despite the absence of the sun around which they revolve.Attendance was on track to hit 25,000 by the time the annual gathering of Apple faithful ends on Saturday.The crowd was down from the 40,000 to 50,000 people seen in years when Apple took part and chief executive Steve Jobs starred in presentations that included unveiling h
Jan. 30, 2011