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Metal piece found at Seoul-Pyongyang joint excavation site

CultureNov 30, 2015

South and North Korea have unearthed a piece of metal type at an ancient palace in the North's border city of Kaesong as they wrapped up a joint excavation project, a group of historians said Monday. The block of movable metal type was one of about 3,500 relics that have been excavated at the site of Manwoldae, a Goryeo Dynasty (918-1392) palace in Kaesong, during the six-month project, accordin...
S. Korea ranked 1st in ICT development

TechnologyNov 30, 2015

South Korea was No. 1 in development of its information and communications technologies (ICT), a U.N. agency said Monday, relegating Denmark to second place. On its Website, the International Telecommunications Union (ITU) said Asia's fourth-largest economy ranked first among 167 countries surveyed. Last year, South Korea lost its top spot to Denmark for the first time since 2010. Iceland came ...
FTC probes VW ads’ claims to ‘clean diesel’

TransportNov 30, 2015

Korea’s Fair Trade Commission has launched an investigation into allegations that the scandal-ridden Volkswagen Group misled Korean customers about its vehicles being overly eco-friendly and fuel-efficient, it was revealed Monday. If proved, the German carmaker may face fines of up to 2 percent of its sales in the country, the authorities said. The Korean government last week had slapped a reca...
Ex-President Kim Young-sam’s relations with superrich

IndustryNov 24, 2015

The death of former President Kim Young-sam (1927-2015) evoked memories of Korea’s rapid industrialization in the ’90s and the business magnates who led the glory. “The late Kim was reportedly the first president who did not take kickbacks from the conglomerates. Through various policies including the Real Name Financial Transactions and Confidentiality, he is recognized for having upgraded the ...
VW CEO says compensation will happen, but slowly

TransportNov 19, 2015

LOS ANGELES -- Volkswagen America CEO Michael Horn on Wednesday made a public apology over its emissions scandal, but said that full compensation will take time. “We will take the responsibility, but it will take time,” Horn said at the Volkswagen’s press briefing for the 2015 Los Angeles Auto Show, explaining that the company is still in talks with the U.S. environment authorities about the cas...
Hyundai, Kia debut new Elantra, Sportage in U.S.

TransportNov 19, 2015

Peter Schreyer, president and chief design officer of Kia Motor Corporation, introduces the 2017 Elantra during the press briefing for the 2015 Los Angeles Auto Show at the L.A. Convention Center on Wednesday. Hyundai Motor Company LOS ANGELES -- Hyundai Motor America unveiled the All-New 2017 Elantra during the 2015 Los Angeles Auto Show on Wednesday in the carmaker’s push to boost U.S. sales....
DK2015 to highlight industrial design

IndustryNov 11, 2015

DK2015, a design festival, kicked off at KINTEX in Ilsan, Gyeonggi Province, on Wednesday to discuss industrial design for five days. More than 190 design firms from 13 countries around the world, including China, gathered for the forum that will highlight the artistic world of design and its commercialization, organizers said. “Design is the soft power of the manufacturing industry. It adds gr...
Kumho Tire to hold homecoming for Korean-Vietnamese families

IndustryNov 11, 2015

Kumho Tire is receiving applications from Vietnamese nationals who have a multicultural family in Korea and want to visit their home country next January as part of the company’s “Korean-Vietnamese Multicultural Family Homecoming” program. Since 2013, the tire maker has supported Vietnamese people who have settled in Korea through international marriage in visiting their home country with childr...
Hyundai Motor unveils first Genesis model

TransportNov 10, 2015

Artist`s rendering image of the Genesis EQ900 Hyundai Motor on Tuesday unveiled the EQ900, the first flagship sedan under its newly launched luxury brand “Genesis.” It is expected to help Korea’s largest carmaker spearhead into the global luxury segment -- a relatively new territory for it -- and comes less than a week after Hyundai Motor Group vice chairman Chung Eui-sun on Nov. 4 declared the...
[SUPER RICH] Shinsegae chairwoman caught with borrowed-name stocks again

IndustryNov 10, 2015

Shinsegae chairwoman Lee Myung-hee Shinsegae vice chairman Chung Yong-jin Shinsegae Group, the country’s second-largest retailer, declared Friday its founder and chairwoman Lee Myung-hee owned 380,000 company shares worth around 80 billion won ($69 million) under borrowed names and that she would convert them to her own name on the day. The problematic stocks were 258,449 shares of large disco...
Two Shin-Wolsong nuclear power plants dedicated

IndustryNov 9, 2015

The Shin-Wolsong Nuclear Power Plant No.1 (right) and No. 2 in Gyeongju, North Gyeongsang Province. The construction of Shin-Wolsong Nuclear Power Plant No. 1 and No. 2 in Gyeongju, North Gyeongsang Province, was completed Monday, making them the nation’s 23rd and 24th nuclear reactors. The two plants will generate a combined 15.8 billion kilowatt-hours of electricity a year, which would curren...
Buddhists from two Koreas meet in North

North KoreaNov 3, 2015

Buddhist leaders of the two Koreas gathered in the North Korean border town of Kaesong, joining voices for reconciliation and peaceful reunification. The representatives from South Korea's Cheontae Order and the North's Buddhist federation held a joint ceremony in Kaeseong to commemorate the 10th anniversary of the reconstruction of Ryongtong Temple. Believed to have been the first Cheontae tem...
[Design Forum] Janne Kyttanen reckons world of 3-D design

IndustryOct 29, 2015

Janne Kyttanen is arguably one of the pioneers of three-dimensional design. Since his firm 3D Systems acquired Freedom of Creation in 2011, he has been delving into the world of 3-D printable high-end consumer design. From fluidic-shaped stools to high-rising killer heels, Kyttanen drew global attention by infusing the 3-D techniques to the aesthetic but practical world of 3-D design. And at th...
Major hotels probed for price-fixing

IndustryOct 25, 2015

Korea’s state watchdog launched an investigation into an alleged price-fixing practice by the country’s high-end hotels, suspecting that it resulted in hikes in their room prices despite a stall in demand. Fair Trade Commission building in Sejong city. (Yonhap) According to news reports, the Fair Trade Commission recently requested the country’s so-called five-star hotels to report on their pri...
Lotte brothers open new round of blame game

IndustryOct 22, 2015

SDJ Corporation chairman Shin Dong-joo on Thursday rebutted Lotte Group chairman Shin Dong-bin’s claim that he had inflicted billions of won in damages to Lotte while he served as the vice chairman of Lotte Holdings in Japan. The eldest son of Lotte founder Shin Kyuk-ho and his younger brother Shin Dong-bin have been locking horns over the helm of the 90 trillion-won ($79 billion) Lotte Group fo...