Most Popular
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Court refuses injunction on medical school expansion
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Debate on 'no-seniors zones' heats up
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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S. Korea, Cambodia forge strategic partnership
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Is NewJeans headed for a long 'break'?
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[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
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Ministries to unveil plan to boost housing market
The government plans to announce its first set of measures aimed at reviving the sluggish real estate market on Monday.The comprehensive plan would likely include various tax cuts on housing transactions. The Finance Ministry and the Ministry of Land, Infrastructure and Transport have been drawing up the measures.The government had said that it would announce the housing plan before it devised an extra budget to secure funding for job creation and SMEs. The supplementary budget will likely take
March 31, 2013
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[Graphic News] Galaxy most valuable brand in Korea
Samsung Electronics’ Galaxy smartphone line was ranked first in a survey of Korea’s top 100 brands in the first quarter, a local brand equity evaluator said Sunday. According to the survey by Brand Stock, the nation’s most popular smartphone brand retained the top spot for the second consecutive year with the highest score of 938. E-mart, the nation’s largest discount franchise, came in second. Olleh, the flagship brand of KT, was named the third-most popular brand in Korea. KB Kookmin Bank and
March 31, 2013
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[Newsmaker] FTC nominee Noh to face uphill confirmation
Korea Fair Trade Commission nominee Noh Dae-lae is expected to face a tough grilling at confirmation hearings as opposition lawmakers have questions over his positions on issues concerning conglomerates and weapons procurement.The former bureaucrat for the Ministry of Strategy and Finance has been known to be against further stringent rules on the equity structures of conglomerates.When the antitrust watchdog set out to introduce tougher measures on big businesses’ web of complex cross-sharehold
IndustryMarch 31, 2013
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Overseas construction orders surge 56% in Q1
Overseas orders won by South Korean builders surged significantly in the first quarter from a year earlier, the construction ministry said Sunday, reflecting a possible recovery in the global construction market.According to the Ministry of Land, Infrastructure and Transport, overseas deals signed by South Korean construction companies totaled $12.5 billion in the January-March period, up 56 percent from the same period last year.The ministry noted the figure fell a little short of the five-year
March 31, 2013
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CJ Korea Express unveils W5tr investment plan
CJ Korea Express Corp., South Korea’s largest logistics firm, unveiled an ambitious plan Sunday to become the world’s fifth-largest logistics company by 2020, one day before its scheduled merger with its affiliate and the country’s second-largest logistics company CJ GLS Inc.Company officials said the merger will be completed Monday with Lee Chae-wook, a former chairman of GE Korea, tapped to lead the new CJ Korea Express.“Our country is producing many of the world’s No. 1 products in various in
March 31, 2013
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Unit price of Korean vehicles grows 4.4%
The average price of vehicles shipped overseas by South Korean automakers grew 4.4 percent from a year earlier in the first two months of the year, more than offsetting a drop in the volume of their shipments, an industry group said Sunday.According to the Korea Automobile Manufacturers Association, the number of cars shipped overseas by the country’s five automakers in the first two months of the year dropped 5 percent to 518,251 units from 545,796 units in the same period last year.The average
March 31, 2013
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Shares expected to trade higher on stimulus hope
South Korean stocks are expected to trade higher this week on the back of rising hopes for the government’s envisioned extra budget plan to bolster the local economy, analysts said.The benchmark Korea Composite Stock Price Index closed up 56.18 points, or 2.88 percent, to 2,004.89 on Friday from the previous week.Earlier last week, the KOSPI advanced on the eased concerns over the eurozone as Cyprus reached a final deal on Monday to receive a bailout worth 10 billion euros ($12.82 billion) to pr
March 31, 2013
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[Photo News] Joint marketing
IndustryMarch 31, 2013
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SNS stock scams face clampdown
Financial authorities plan to bolster supervision of unfair stock trading practices via social networking services.The regulatory policy comes amid groundless rumors that have been rampant lately on social networks including Facebook, Twitter and smartphone applications.To crack down on cyber-based stock manipulation, the Financial Supervisory Service plans to closely coordinate with the Financial Services Commission and the Korea Exchange.An official of the Korea Exchange said the main bourse o
March 31, 2013
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CEO resignations spawn speculation about motive
Four conglomerate chiefs have quit their posts as chief executive in the past month, raising speculation about the motives behind the series of apparently unrelated events.Doosan Infracore chairman Park Yong-maan, Hanjin Heavy Industries & Construction chairman Cho Nam-ho, Lotte Group chairman Shin Dong-bin and Shinsegae Group vice chairman Chung Yong-jin have stepped down from their posts, although they intend to retain their positions as “board members.”The business groups shared the view that
IndustryMarch 31, 2013
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Local market for smartphones faces stagnation: report
The growth of the South Korean market for smartphones will begin slowing down this year and possibly post a negative growth in 2016 due to market saturation, a U.S. market research group said in a report released Sunday.According to the report from Strategy Analytics, the local market for smartphones is expected to grow 8 percent from a year earlier to around 33.1 million units this year.The growth rate will mark a significant slowdown from an explosive 717 percent on-year surge in 2010, as well
TechnologyMarch 31, 2013
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Korean exports to Japan tumble
Korea’s exports to Japan have tumbled since the second half of last year, according to data released Sunday, mainly because of a weak yen. Korean exports to the world’s third-largest economy plunged 17.4 percent to $2.89 billion in February from a year ago, the Korea International Trade Association said. Korean exports to Japan fell below the $3 billion mark again after nose-diving 23 percent to $2.75 billion last April compared to the same period in 2012. Sales of Korean goods to Japan saw a te
March 31, 2013
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Real hero
Porsche is likely to maintain a low profile at this year’s Seoul Motor Show, but the Korean debut of the new Cayman and Cayman S seem enough to captivate sports car fans here. The Porsche Cayman is a mid-engine layout rear-wheel-drive coupe derived from Porsche’s second- and third-generation Boxster roadster. The new, third-generation two-seat sports car has again undergone a complete redevelopment. It is lower and longer, lighter and faster, and more efficient and powerful then ever, the carmak
MobilityMarch 31, 2013
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Ssangyong Motor seeks new leap forward
Ssangyong Motor CEO Lee Yoo-il pledged to shake up the competition in the local luxury sedan market long dominated by Hyundai and foreign rivals at the unveiling of its newest Chairman at the Seoul Motor Show on Thursday.“In the large sedan segment where competition with imported carmakers is fierce, I believe the Chairman W Summit will become a game-changer,” he said, introducing the model. He set this year’s sales target for the new Chairman at about 500 vehicles. The Chairman W Summit, which
MobilityMarch 31, 2013
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Audi accelerates with R8 sports car
For Audi, the hottest-selling luxury car brand in Korea, the year 2012 was stunning, with its car sales almost doubling from a year ago. This year the carmaker aims higher, rolling out sportier, high-performance models. At the heart of the ambitious plan is the R8 sports car. At Seoul Motor Show that kicked off Thursday, Audi unveiled a total of 22 vehicles ― the most among foreign brands ― including two Korean debuts, the R8 V10 Coupe and Spyder.“Introducing more vehicles than other imported br
MobilityMarch 31, 2013
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Two debuts for Mercedes-Benz
Mercedes-Benz Korea made several debuts at Seoul Motor Show that kicked off Thursday. One was the long-anticipated A-Class, the smallest, cheapest Mercedes that will finally hit the Korean market in the latter half of this year. Even though the car debuted globally in 1997, the German luxury carmaker has delayed the launch of the 1,800 cc hatchback in Korea where its larger sedans are enjoying an unrivaled premium image. The other debut on the day was Britta Seeger, the Korean unit’s new and fir
MobilityMarch 31, 2013
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Jaguar Land Rover bets big on Korea
One of the highlights at this year’s Seoul Motor Show may be the presentation by Jaguar’s design director Ian Callum for the long-anticipated F-Type roadster. In his first visit to Korea, the legendary car designer, 59, personally unveiled the two-seat F-Type, the first sports car made by the British luxury brand since the 1970s. “It’s a true breakthrough product for Jaguar. It marks our return to the sports car market,” he said of the F-Type, which will go on sale globally this summer. In order
MobilityMarch 31, 2013
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Renault Samsung out to recapture Koreans’ hearts
Renault Samsung is out to recapture the hearts of Koreans, this time with a compact SUV crossover and the SM5 XE TCE that it rolled out at Seoul Motor Show this week. The cars were distinctively cool, and reflected the promise the carmaker, which has performed weakly over the past few years, is making anew to consumers all over the world and in Asia. The number of reporters who packed the Renault Samsung showroom was, if anything, testament that the company was ready for a comeback.“Featuring a
MobilityMarch 31, 2013
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KRX to step up cyber monitoring of stock rigging
SEOUL -- South Korea's bourse operator will keep closer tabs on stock price manipulation and other unfair trades conducted via the Internet and social networking services, officials said Sunday. To that end, the Korea Exchange (KRX) will establish a cyber supervision center to conduct a real-time check on rumors concerning stock price rigging and other unfair trading activities, the KRX officials said. "The KRX is preparing a system designed to filter rumors circulated online," a KRX offi
March 31, 2013
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US Patent Office denies ‘iPad Mini’ trademark
The US Patent and Trademark Office has denied Apple's application for a trademark to safeguard its widely popular iPad mini tablet, saying the case to own the phrase was too weak.Apple, however, has until July 24 to better explain how the iPad mini is different and unique from the larger-sized iPad to counter the rejection seen as largely a formality.The iPad mini mark "merely describes a feature or characteristic of applicant's good," said the rejection letter dated January 24 but that has only
TechnologyMarch 31, 2013