Most Popular
-
1
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
2
S. Korea, Japan could consider simplified entry agreement: Seoul official
-
3
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
-
4
[Weekender] How DDP emerged as an icon of Seoul
-
5
Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
-
6
Tensions heighten ahead of first president-opposition chief meeting
-
7
[Music in drama] An ode to childhood trauma
-
8
'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
-
9
New head of doctors' association vows war in case of disadvantage to medical professors
-
10
EU toughens safety rules for online retailer Shein
-
Auto, department store sales falter amid economic woes
Persistent economic uncertainties in Europe may be putting a brake on Korean consumer spending as car and department store sales tumble, data showed Sunday.Combined revenues of three major department stores slipped 1.1 percent last month from a year ago, the first drop since February 2009, according to the Finance Ministry. Their year-on-year sales growth slowed from 8.3 percent in August to 6.5 percent in September, then to 3.1 percent in October. Sales of discount stores remained flat last mon
IndustryDec. 11, 2011
-
Asiana marks 10m passenger record
Asiana Airlines, Korea’s second-largest air carrier, marked an annual record for the second consecutive year with more than 10 million international passengers, the company announced Sunday. Asiana expects the number to reach 10.64 million by the end of December, a 2.3 percent increase from the last year’s record.Passenger traffic has been showing a fast recovery after the global financial crisis in 2008-2009. After two years of passenger number decreases, the number of passengers rose 21.5 perc
IndustryDec. 11, 2011
-
Public firms’ bond sales nearly double
South Korean public corporations’ bond sales have nearly doubled in three years as they increasingly resort to debt issuance to help finance state development projects, financial sources said Sunday.The value of outstanding bonds issued by state land developer LH Corp. and other public corporations under the central and provincial governments came to 283 trillion won ($247 billion) as of Friday, according to the sources.The figure is up 89 percent from 150 trillion won at the end of 2008 and amo
Dec. 11, 2011
-
Online portal news appeals most to white-collar male workers in their 30s
Male white-collar workers in their 30s with a college degree are the biggest users of online portals’ news services, a report showed on Sunday. According to the report issued by the Korea Press Foundation, male users make up 55.2 percent of news consumers at Korea’s top three portals. The survey, based on users who regularly browse news at Naver, Daum and Nate, showed that those aged 30-39 account for a 26.4 percent share, followed by those in their 40s (23.8 percent), 19-29-year-olds (21.4 perc
TechnologyDec. 11, 2011
-
Seoul shares to rebound on European crisis deal
South Korean shares are expected to rebound this week, as European leaders agreed last week on a series of fiscal measures to stem the ongoing debt crisis, analysts said Saturday.At their two-day summit that ended Friday, European leaders agreed to tighten anti-deficit rules and funnel money to the International Monetary Fund, thus preventing future debt run-ups.“The outcomes were roughly in line with market expectations,” said Kang Hyun-chul, an analyst at Woori Investment & Securities. “Now, i
Dec. 11, 2011
-
Winds of change blowing at SC First Bank
Lender pushes reform of compensation system, name change, manpower restructuringSC First Bank, the Korean unit of the London-based financial group Standard Chartered, will drop the “First” from its name starting next year. The bank’s name was a result of the British firm’s 2005 acquisition of Korea First Bank, established in 1929.Last week, a new signboard reading “Standard Chartered” appeared on its head office in Jongno, Seoul. Its nationwide branches are also replacing their signboards.For S
Dec. 11, 2011
-
Video games sales forecast to reach 17.8 trillion won in 2011
South Korea’s gaming industry will likely see its sales reach nearly 18 trillion won ($15.6 billion) by the end of this year, mainly due to an increase in lottery sales, industry data showed Sunday.Sales of six legal gaming sectors including lottery, casino and horse-racing are expected to reach 17.8 trillion won this year, equivalent to more than 1.5 percent of the country’s gross domestic product, according to the data compiled by the National Gaming Control Commission. The figure would likely
TechnologyDec. 11, 2011
-
Watchdog fines cartel of 4 tube glass makers
South Korea’s antitrust watchdog said Sunday that it has fined four South Korean and Japanese makers of cathode-ray tube glass a combined 54.5 billion won ($47.5 million) for colluding to fix prices.Samsung Corning Precision Materials Co. was slapped with the largest fine of 32.4 billion won, with Hankook Electric Glass Co., the local subsidiary of Japan’s Asahi Glass Co. receiving a fine of 18.3 billion won, according to the Fair Trade Commission.The regulator also imposed a combined penalty of
IndustryDec. 11, 2011
-
Korea, China, Japan set to conclude study on three-way FTA
Korea, Japan and China are scheduled to wrap up their joint study on a three-way free trade agreement Friday, portending the beginning of negotiations early next year.A free trade deal binding the three nations that account for a fifth of the world’s economic output and a sixth of the global trade volume could help resolve geopolitical uncertainties in the region and advance reunification of the Korean Peninsula.A trade pact removing the tariffs among the three economies, with a combined populat
Dec. 11, 2011
-
LG home theater gets high marks in European reviews
LG Electronics, the world’s third-largest flat-screen TV producer, said on Sunday it received high marks from leading product review magazines in Europe. “What Hi-Fi Sound and Vision,” a leading consumer reviews magazine, gave a five-star rating to the LG Cinema 3D Home Theater in its November issue. The company received positive reviews for its home theater and related gadgets released this year, based on their outstanding design, balanced sound and user-friendly features. Other magazines in th
TechnologyDec. 11, 2011
-
Jobless rate to top 3.7% in 2012: think tanks
Korea’s unemployment rate is expected to slightly rise next year on the back of sluggish economic growth at home and abroad, leading private think tanks said Sunday.LG Economic Research Institute forecast the country’s jobless rate will be 3.7 percent next year, while Hyundai Research Institute predicted 3.6 percent. Both figures are up from this year’s estimated 3.5 percent.Samsung Economic Research Institute predicted a 3.4 percent rate. But it indicated a possible rise, citing lackluster job
Dec. 11, 2011
-
Canadian Chamber elects chief
The Canadian Chamber of Commerce in Korea announced that Don MacKenzie has been elected its new chairman for 2012. “I look forward to taking over the great work of Simon Bureau. His work and dedication over the last four years have helped establish a sound foundation upon which we can continue to build in the future,” said MacKenzie.MacKenzie joined A.T. Kearney Korea in 2010 as vice chairman, focusing primarily on the firm’s extensive financial services, mergers and acquisitions, and private eq
Dec. 11, 2011
-
Buffett tips his farmer son as next Berkshire chair
NEW YORK (AFP) -- Mega-billionaire Warren Buffett says his son, a corn farmer, would be a good replacement for him as chairman of his $245 billion investment giant Berkshire Hathaway.Warren Buffett (AP-Yonhap News)Buffett told CBS television that Howard Buffett, 56, would be a good "guardian of
Dec. 11, 2011
-
Samsung wins patent war for tablet PC in Australia
Samsung Electronics will be rolling out its Galaxy Tab 10.1 in Australia in time for the holiday season as its High Court rejected Apple’s request on Friday to extend the sales ban on Samsung’s tablet PCs.The three-judge High Court panel said that Apple failed to convince them that the firm could win on appeal and denied the company a hearing, according to news reports. Chief Justice Robert French, representing the panel, supported the decision reached earlier by the Federation Court to overturn
IndustryDec. 9, 2011
-
FSS chief stresses fair audit, accounting transparency
The nation’s top financial regulator on Friday urged accounting firms to commit to a rigorous audit of troubled savings banks to uproot accounting fraud.Financial Supervisory Service Gov. Kwon Hyouk-se pinpointed the lack of transparency in financial reports in the industry at a breakfast meeting with chiefs of the industry’s 13 biggest accounting firms.“Transparency is an essential element in a trusted relationship between banks and the public, and demand for honest reporting is growing,” Kwon
Dec. 9, 2011
-
Many brokerage houses to get new CEOs in 2012
More than half of securities company chiefs in Korea are about see the end of their terms, signaling a wave of management changes in the brokerage industry.According to the Korea Financial Investment Association, 29 out of 49 securities firms will see their tenures end next year.In particular, most of the 10 major securities firms are affected. Samsung Securities replaced its CEO on Dec. 7.The current figures include Daewoo Securities CEO Im Kee-young, Woori Investment and Securities CEO Hwang S
Dec. 9, 2011
-
Producer price growth hits 1-year low in Nov.
South Korea’s producer prices grew at the slowest clip in one year in November as prices of vegetables and fruits fell sharply, the central bank said Friday.The producer price index, a barometer of future consumer inflation, rose 5.1 percent in November from a year earlier, cooling from a 5.6 percent on-year gain in October, according to the Bank of Korea.Last month‘s data marked the slowest gain since a 4.9 percent gain tallied in November 2010, it added.Compared with the previous month, produc
Dec. 9, 2011
-
Samsung permitted to roll out Galaxy Tab in Australia
Samsung wins legal battle in Australia, but fails to ban sales of iPhone 4S in FranceSamsung Electronics will be rolling out its Galaxy Tab 10.1 in Australia in time for the holiday season as its High Court rejected Apple’s request on Friday to extend the sales ban on Samsung’s tablet PCs.The three-judge High Court panel said that Apple failed to convince them that the firm could win on appeal and denied the company a hearing, according to news reports. Chief Justice Robert French, representing
IndustryDec. 9, 2011
-
BOK cuts 2012 growth forecast to 3.7 percent
The Bank of Korea on Friday dimmed the country’s growth forecast for next year to 3.7 percent, down from its earlier estimate of 4.6 percent, citing uncertainty from Europe’s debt situation as lingering risks for the export-reliant economy.The downward revision narrowed gaps in the mid- to-high 3 percent range at private think tanks, in a sign that Asia’s fourth largest economy will grow at a slower pace than this year under sluggish global trade sentiment and weak domestic demand.The central ba
Dec. 9, 2011
-
Hyundai, Kia top Russian car market
1.6-liter Gamma engine selected for the ‘Best 10 Engines’ list by U.S. auto mediaHyundai Motor and its affiliate Kia Motors became the No. 1 and No. 2 foreign carmakers, respectively, in Russian markets in November, according to industrial data.Hyundai posted sales of 17,283 units in Russia last month, maintaining the No. 1 position for the third consecutive month, according to the Association of European Businesses.Kia ranked second with sales of 15,115 units, overtaking GM Chevrolet with sales
Dec. 9, 2011