Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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S. Korean children, teens grow taller, mature faster than before: study
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Army takes group action against Hybe for neglecting BTS
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Some junior doctors are returning: Health Ministry
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Debate rages over ‘overly fatty’ samgyeopsal
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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[Weekender] Korean psyche untangled: Musok
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Woman dangling from power lines rescued by residents holding blanket
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Reservoirs, waterway to be open to public
The government is set to introduce new waterways as part of its project to refurbish the country’s four major rivers, hoping to calm much-heated controversy over wilderness protection. The Ministry of Land, Transport and Maritime Affairs said Wednesday it will open to the public the 16 restored rese
IndustrySept. 21, 2011
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SKT to reorganize divisions
SK Telecom announced on Wednesday that it will rearrange business divisions in time for the launch of SK Planet on Oct. 1. The company also said that it will carry out an executive reshuffle. SK Planet will be a new subsidiary created by spinning off SK Telecom’s platform business.Under the plans, S
IndustrySept. 21, 2011
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Seoul to provide W4tr in Nonghyup restructuring aid
The government has decided to provide 4 trillion won ($3.5 million), or 15.7 percent, of the total needed to restructure state-run National Agricultural Cooperative Federation, the Finance Ministry said Wednesday. The amount is 2 trillion won short of the 6 trillion won requested by Nonghyup, the co
Sept. 21, 2011
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Weaker won a mixed blessing for exporters
A rapid decline of the Korean won against the U.S. dollar is expected to boost sales of local exporters such as automakers and electronics manufacturers, analysts said on Wednesday. The depreciation of the local currency, or a drop in the value of the Korean won, is generally viewed as a factor that
Sept. 21, 2011
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NCsoft to give out signed baseballs
NCsoft, owner of the newly created baseball team, the “NC Dinos,” will give out official balls signed by Dinos coach Kim Kyung-moon and ace baseball player Na Sung-beom as a part of an event to promote a new application.In what can be translated into “A Fun Guide to Baseball,” NCsoft’s new applicati
IndustrySept. 21, 2011
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Amore Pacific to sponsor organic forum
Cosmetics maker Amore Pacific on Wednesday said it would be sponsoring the 17th conference of the International Federation of Organic Agricultural Movements to be held here next month.Several of Amore Pacific’s brands such as Osulloc will be participating as sponsors, the company said.The conference
IndustrySept. 21, 2011
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Customs seizes W42b of fake designer goods
Five suspected members of a South Korean smuggling ring have been arrested on suspicion of producing and selling counterfeit designer goods worth 42 billion won ($36.7 million), the country’s customs office said Wednesday.One person was held in custody and four booked without detention on charges of
Sept. 21, 2011
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Customs agency nabs W2.5tr of foreign currency violations
South Korea’s customs agency said Wednesday that it has clamped down on illegal foreign currency dealings worth 2.5 trillion won ($2.2 billion) so far this year.During the January-August period, the Korea Customs Service said in a report, it detected 1,145 cases of illegal foreign currency dealings
Sept. 21, 2011
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Two savings banks probed for irregularities
The Financial Supervisory Service said Wednesday that it has uncovered two savings banks ― Jeil and Ace ― which have issued irregular loans to ailing builders over the past few years.The regulator filed complaints the two lenders and nine other banks in the secondary banking industry with the prosec
Sept. 21, 2011
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Seoul sets W23tr for infrastructure
Next year’s national budget to focus on investment, welfare, job growthThe government plans to allocate 22.6 trillion won ($19.8 billion) for social infrastructure projects next year, emphasizing that the 2012 budget plan, unveiled next week will focus on upping investment in public works, welfare a
Sept. 21, 2011
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Firms at a crossroads in reinventing CSR
Businesses often view corporate social responsibility as a cost they have to bear in order to maximize profits. The assumption is that company’s core business, especially profits, and CSR projects are not directly related.Kang Joo-hyun, founder and executive president of Global Competitiveness Empow
Sept. 21, 2011
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Ssangyong aims at 20 percent of SUV market
Under new vision, automaker seeks to achieve yearly sales of 160,000 vehicles by 2013Ssangyong Motor has set the goal of pulling up its market share in the local sport utility vehicle industry to 20 percent within five years, from the current 14 percent.The automaker unveiled the local market share
MobilitySept. 21, 2011
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Hanwha’s major construction projects under way
With the aim of becoming one of the major global builders, Hanwha Engineering and Construction has successfully won large-scale construction projects nearly all over the world.One of the latest projects the company won is to build the world’s largest domed arena near Manila.In August, Hanwha began w
IndustrySept. 21, 2011
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Hanwha E&C looks to overseas markets for growth
Builder aims to become one of the world’s top 100 construction firms with sales of W5trHanwha Engineering and Construction is turning its attention to overseas markets to fuel its drive to become one of the world’s top 100 construction companies by 2015.Under the plans announced earlier this year, t
IndustrySept. 21, 2011
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Brain stroke on rise among aged population
SEOUL, Sept. 21 (Yonhap) -- The number of people suffering from cerebral infarction, a type of stroke caused by disturbance in blood vessels supplying blood to the brain, is rising among the aged population in South Korea, a report showed Wednesday.The number of cerebral infarction patients rose by
TechnologySept. 21, 2011
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Creditors to allow new bidders for Hynix stake
SEOUL, Sept. 21 (Yonhap) -- Shareholders of Hynix Semiconductor Inc. said Wednesday that they will open up the final bidding for the chipmaker in a move to secure the fairness and transparency of the sale process.Creditors-turned-shareholders of Hynix said on Tuesday that they will proceed to sell a
IndustrySept. 21, 2011
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S. Korea's jobless rate falls to 3 percent in August
SEOUL, Sept. 21 (Yonhap) -- South Korea's jobless rate declined in August from a year earlier as the number of newly created jobs in the country increased, a government report showed Wednesday.The jobless rate stood at 3 percent last month, down from 3.3 percent a year earlier, according to the repo
Sept. 21, 2011
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IMF cuts Korea growth outlook to 4%
The International Monetary Fund on Tuesday revised down its growth forecast for Korea this year to 4 percent from 4.5 percent in its latest World Economic Outlook, citing decreasing demand for exports. It projected Korea to grow 4.4 percent in 2012.The IMF lowered the global growth outlook by 0.3 pe
Sept. 20, 2011
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Italy downgrade to hit Korean market
In a surprise move, Standard & Poor’s has downgraded Italy’s sovereign debt rating, a development that analysts said could affect the Korean stock and foreign exchange markets negatively at least in the short term. The rating agency cut Italian debt one notch to “A/A-1” from a “A+/A-1+” grade, citin
Sept. 20, 2011
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EUCCK elects new president
Jean-Luc Valerio, chief of the European Aeronautic Defense and Space Company’s Korean operations, has been chosen as the new president of the European Union Chamber of Commerce in Korea, the chamber announced Tuesday.The 53-year-old Frenchman will replace Jean-Marie Hurtiger, chief executive of Rena
IndustrySept. 20, 2011