KB heads receive light punishment

Lim Young-rokThe nation’s financial watchdog on Friday imposed light punishments on the chairman of KB Financial Group and the head of its flagship Kookmin Bank over managerial errors. The Financial Supervisory Service’s discipl...

Hyundai fears output loss from partial strikes

Union workers at Hyundai Motor’s Ulsan plant staged four-hour partial strikes on Friday amid their stalled talks with management over considering bonuses part of regular wages. With the union planning to refuse overtime work on t...

KEPCO to lay Korea-Japan undersea power grid

South Korea’s state-run utility giant Korea Electric Power Corp. is pushing ahead with an undersea power grid project between South Korea and Japan in an effort to export electricity to the neighboring country, according to a loc...

Seoul shares close higher ahead of Fed speech

South Korean stocks closed 0.61 percent higher Friday as investor sentiment was lifted by upbeat U.S. data ahead of a key U.S. Federal Reserve event, analysts said.The local currency gained ground against the U.S. greenback. The b...