Most Popular
-
1
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
2
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
3
S. Korean children, teens grow taller, mature faster than before: study
-
4
Army takes group action against Hybe for neglecting BTS
-
5
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
6
Some junior doctors are returning: Health Ministry
-
7
Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
-
8
Naver will consider company benefits in deciding on selling Line shares: CEO
-
9
Woman dangling from power lines rescued by residents holding blanket
-
10
Debate rages over ‘overly fatty’ samgyeopsal
-
7 more savings banks suspended
Major players including Tomato, Jeil fail to meet capital adequacy ratioThe financial regulator on Sunday suspended the operation of seven more savings banks that failed to meet the capital adequacy ratio set by the International Bank of Settlements, including major players Tomato and Jeil. Sixteen
Sept. 18, 2011
-
Hyundai Heavy denies report on Nigerian shipyard plans
Hyundai Heavy Industries Co. on Sunday denied reports that it will be building a shipyard in Nigeria.On Friday, Reuters reported that Hyundai Heavy will be investing $7 billion to build a shipyard in the African country, quoting the company’s chief executive Lee Jai-seong.The company, however, said
IndustrySept. 18, 2011
-
Local industries brace for exchange rate impact
Local industries were seen bracing for the impact from the recent surge in the Korean won against the U.S. dollar exchange rate amid lingering concerns of a debt crisis in the European region.On Friday, the local currency ended at 1,112.5 won against the greenback, with the exchange rate stabilizing
Sept. 18, 2011
-
Dismal growth prospects abroad likely to squeeze Korean economy
The government has been pushed to lower growth projections for the Korean economy as debt in Europe and dismal growth prospects in the U.S. are expected to set back exports and consumer spending this year and next.The latest data shows that shrinking consumer demand and depressed business sentiment
Sept. 18, 2011
-
Loan defaults on the rise
The number of loan defaults in Korea reached 1.09 million as of June, up 19.5 percent from six months earlier, credit data showed on Sunday. According to Nice Information Service, the number of people who failed to pay back loans they got from local lenders and financial firms rose by 179,000 in the
Sept. 18, 2011
-
Sony eyes opportunities in smartphone boom
TOKYO ― The smart device craze is no stranger to IT companies, many of which are eager to replicate the success of Apple, and Sony Corp. is no exception in how acutely aware it is of the potential these new gadgets hold.“The penetration of smartphones and tablets in the market is driving the demand
IndustrySept. 18, 2011
-
Higher volatility spurs speculative trades
Hot money on currency market and risky bets on derivatives on the riseWith the local stock market riding a wave of volatility in recent weeks, speculative transactions have increased at an alarming pace, the country’s financial regulators warned on Sunday. Although it is often difficult to distingui
Sept. 18, 2011
-
Volkswagen, GM lead 7.8% growth in Aug. Europe car sales
Volkswagen AG, General Motors Co. and Ford Motor Co. led the first increase in European car sales in four months, helped by new models ordered earlier this year. Registrations rose 7.8 percent to 787,435 vehicles from 730,646 units a year earlier, the Brussels-based European Automobile Manufacturers
MobilitySept. 18, 2011
-
Ferrari is recession proof as ultra-luxury car sells out
Maserati SpA’s new sport-utility vehicle was one of the most sought-after models at the Frankfurt car show last week and Ferrari SpA predicted record sales as executives said ultra-luxury remains recession-proof.“If you go to the Ferrari stand, there aren’t any customers worried about the recession,
MobilitySept. 18, 2011
-
Volvo Korea disguising who owns it?
Volvo Cars Korea has been providing consumers with outdated information over the automaker’s ownership structure on its website for about a year.Though China-based Zhejiang Geely Holding Group completed acquisition of Swedish-founded Volvo Cars from U.S.-based Ford Motor in the third quarter of 2010
MobilitySept. 18, 2011
-
Government suspends 7 savings banks
The financial regulator on Sunday suspended operation of seven more savings banks that have failed to meet capital adequacy ratio set by the International Bank of Settlements, including major players Tomato and Jeil. A total of 16 savings banks have been suspended so far this year.“We decided t
Sept. 18, 2011
-
KT in talks to buy Enswers to bolster cloud computing
South Korean telecom titan KT Corp. is moving to buy Enswers Inc., a Seoul-based video search technology provider, to prop up its cloud computing business, industry sources said Sunday. The deal could fetch Enswers as much as 40 billion won ($36 million), the sources said, all speaking on the condit
TechnologySept. 18, 2011
-
Alleged renegade UBS trader had luxury lifestyle
LONDON (AP) — Educated at an exclusive school in a picturesque patch of English countryside, Ghana-born trader Kweku Adoboli was known to neighbors as a polite and well dressed young man who mixed grueling hours in London's financial district with a lavish social life in the capital's nightspo
Sept. 17, 2011
-
Sales of Europe luxury goods up after FTA
European fashion brands are enjoying increased demand here after a free trade pact between Korea and the EU took effect on July 1, industry sources said Friday.French brand Louis Vuitton logged 91.2 billion won ($82.6 million) between July 1 and Sept. 14, up 16.9 percent from 78 billion won a year e
IndustrySept. 16, 2011
-
Minister hints at blackout compensation
Disputes are rising over compensation after an unprecedented power failure swept the nation on Thursday. Seoul and many other parts of Korea suffered serial power cuts after a sudden hike in electricity consumption. Unlike large companies with an independent power operating system, smaller businesse
Sept. 16, 2011
-
Sony bets big on headphone market
TOKYO ― Sony Corp. on Thursday said it will be releasing in November a new range of headphones, predicting that sales will soar over the next few years on the back of the smartphone craze. “With this tiny headphone driver, Sony will make a big splash this autumn,” said Katsuya Nakagawa, senior gener
IndustrySept. 16, 2011
-
Seoul to unveil list of troubled savings banks
Senior regulatory officials are considering the timing of the announcement of the list of debt-saddled savings banks, which will face business suspension.In particular, the officials seem extremely cautious over choosing the date as the Financial Services Commission and the Financial Supervisory Ser
Sept. 16, 2011
-
Criticism rages over power cuts
Government vows to cap peak demand, boost reservesMillions of residents and industrial workers remain outraged on Friday even after the government apologized for massive power cuts that blasted the country on Thursday, vowing not to repeat the mistake.An unseasonable heat wave forced the Korea
IndustrySept. 16, 2011
-
Smokers don't make better lovers: study
TechnologySept. 16, 2011
-
European luxury brands see sales hike after FTA
European fashion brands are enjoying increased demand here after a free trade pact between Korea and the EU took effect on July 1, industry sources said Friday.French brand Louis Vuitton logged 91.2 billion won ($82.6 million) between July 1 and Sept. 14, up 16.9 percent from 78 billion won a year e
IndustrySept. 16, 2011