NEWS(232,865 results)
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Korea likely to weather financial turmoil: Morgan StanleyAug 10, 2011...South Korea is expected to tide over the ongoing financial turmoil stemming from jitters over the U.S. economy and the European debt crisis, thanks to its solid exports and improved financial indicato...uth Korea’s financial system is now better prepared for financial crises compared with 2008, when U.S. investment giant Lehman Brothers’ insolvency crashed global financial markets. “Korea’s financia...
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Firms may rethink U.S. biz strategiesAug 10, 2011Companies looking for signs of prolonged recession in Europe, U.S. Large Korean companies struggled to appear unfazed but many, especially those dependent on overseas sales, seemed to be rethinking ...entified. In addition to the fact that the two areas make up a significant portion of the carmaker’s clientele ― Hyundai cars take up more than 10 percent of the U.S. market ― a rise in U.S. governme... -
Hyundai to develop compact battery powered cars in 2014IndustryAug 10, 2011...co-friendly and better-performing cars in 2014. A consortium led by Hyundai Motor Co., the country’s top car manufacturer, has signed a deal with the Ministry of Knowledge Economy to establish produc...electric vehicles. If successful the project would deliver a better product than the LEAF by Japan’s Nissan, the ministry added. Last year, Hyundai developed the country’s first compact electric veh...
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Milk crisis looms amid stalled price talksIndustryAug 10, 2011...alled, farms nationwide again started to halt supply of raw milk. Some farmers blocked trucks of milk products from entering their regions from Tuesday night. Milk manufacturers usually hold one day’s-worth of raw milk reserves. When farmers first stopped collecting raw milk for one day on Aug. 3, manufacturers and retailers survived the situation with these reserves. “A one-day suspension would...
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Neowiz Games’ earnings hit recordIndustryAug 10, 2011...d to the first quarter of this year, according to company officials. A.V.A, which is dubbed Neowiz’s next-generation online first person shooter game, is gaining fast popularity in Japan and Cross Fi...ts in the second quarter as well in overseas sales figures as a global gaming company,” said Neowiz’s chief executive officer Yoon Sang-kyu. “In the latter half, we plan to feature a variety of new o...
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Shinhan targets younger customersAug 10, 2011Shinhan Bank, under the customer-oriented management policies of CEO Suh Jin-won, has been diversifying its financial products. The commercial bank’s couple-customized products offer higher interest rates to those who register as couples through the lender’s smartphone application. Shinhan has released the “Couple Savings Account” and the “Couple Installment Account” to better cope with the you... -
Online associations protest Apple’s in-app purchase feesIndustryAug 10, 2011Industrial action has been taken against Apple Inc.’s in-app purchase policy, with groups in Korea protesting the procedure which mandates customers and mobile app developers use its payment tool at ...st, people were able to use Web-linked tools to make their payments for the mobile apps, but now it’s a must to go with Apple’s payment tool, which it takes away 30 percent of the developers’ profit,”...
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KEB’s Q2 net jumps more than eightfoldAug 10, 2011Korea Exchange Bank, South Korea’s No. 5 lender, said Wednesday that its second-quarter earnings jumped more than eight times from a year earlier on a one-off profit from the sale of a stake in a loc...een on the rise mainly because they can charge more interest on their lending amid the central bank’s tightening cycle. Hana Financial Group agreed with U.S. buyout fund Lone Star Funds last month to...
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Money supply growth hits 7-year lowAug 10, 2011South Korea’s money supply grew at the slowest pace in more than seven years in June as liquidity offered by the government decreased despite brisk bank lending, the central bank said Wednesday. The country’s M2, a narrow measure of its money supply, reached 1,697.2 trillion won ($1.57 trillion) in June, up 3 percent from a year earlier, according to the Bank of Korea. The June reading eased fr... -
Baby boomers reliant on state pension planIndustryAug 10, 2011... The financial difficulties of baby boomers will pose arguably the biggest challenge for the state’s limited welfare budget for the growing number of retirees, experts said. Unfortunately for those ...those in their 30s, 72.29 percent. The employment rate is usually the highest for those in their 40s, followed by those in their 30s and 50s. But older baby boomers topped people in their 30s for mor... -
Baby boomers looking to diversify real estate-heavy retirement savingsAug 10, 2011For Korea’s baby boomer generation, post-retirement plans usually revolve around real estate investments. But this longstanding strategy, which relied solely on a continuously booming housing market,...ally takes care of their parents and also forks out big checks for their children. Statistics Korea’s household finance data showed that the baby boomer’s average financial assets amount to 73 million... -
China’s trade surplus surges to $31.5bIndustryAug 10, 2011China’s trade surplus surged to $31.5 billion in July, the highest level in more than two years, as exports rose to a record level. Outbound shipments climbed 20.4 percent from a year earlier, compa...est exporting nation faces the threat of weakening demand as developed nations from Europe to the U.S. and Japan struggle to rein in their debt burdens. The U.S. Federal Reserve countered a global rou... -
Apple world’s most valuable U.S. firmIndustryAug 10, 2011NEW YORK (AP) ― Apple briefly surpassed Exxon Mobil on Tuesday as the nation’s most valuable company. The iPhone and iPad maker had the lead for much of the afternoon before its stock closed just be...e for the most valuable spot in the world include PetroChina Co., the publicly traded unit of China’s biggest oil and gas company, and Petrobras, Brazil’s state-controlled energy company. In the U.S.... -
Regulator sues Goldman over risky mortgagesWorld BusinessAug 10, 2011LOS ANGELES (AP) ― The U.S. regulator of credit unions on Tuesday sued Goldman Sachs & Co. for more than $491 million in damages over losses incurred by two failed credit unions that purchased mortga...itten by the investment bank. The complaint filed by the National Credit Union Administration in U.S. District Court in Los Angeles is the latest lawsuit brought by the federal regulatory agency agai... -
Korea’s mark on an expectation-defying IranInternationalAug 10, 2011...ng most people here. Those in the political circles, however, apparently bear grudges against the U.S., which has long maintained economic sanctions against the country for pursuing nuclear technology...tion)?” Because of difficulty in getting U.S. visas or for some other reasons, Iranians feel the U.S. is still an “unreachable” country. “It is very hard for Iranians to obtain the U.S. visa unless ...
