Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Korea’s GDP growth slows to 0.8% in Q2
Export growth eases, inventory tumbles amid rising pricesSouth Korea’s economic growth slowed down in the second quarter, hurt by lower-than-expected exports and a steep decline in inventory amid intensifying worries over rising prices at home and the sovereign debt crisis in Europe. Korea’s economy grew 0.8 percent in the April-June period, down from a 1.3 percent expansion in the previous quarte
July 27, 2011
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Air France-KLM in ‘long-term relationship’ with Korea
Air France, the first European carrier to enter the Korean market almost three decades ago, weathered a fair amount of storms here, but it never once thought to cut its services.Instead, it bet even bigger and pledged to stay for the long-term.This unwavering sense of commitment became the driving force behind the company’s fast and steady growth in Korea and Asia, said Erik Varwijk, executive vic
IndustryJuly 27, 2011
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LGE posts 2nd straight quarterly profit
LG Electronics posted a second consecutive quarter of operating profit meeting market expectations and fueling anticipation for a much-awaited turnaround, the Seoul-based company said Wednesday. The electronics maker’s quarterly operating profit reached 158.2 billion won ($145.8 million), up 20.9 percent from the previous quarter, while sales stood at 14.4 trillion won ($13.3 billion) to rise 9.3
IndustryJuly 27, 2011
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Hanwha to focus on solar, biosimilars
Hanwha Group, one of the nation’s top conglomerates, will focus its resources on solar power and biosimilar business over the remainder of the year, the group said Wednesday.According to the plans, the conglomerate will direct much of its investment budget for the period into polysilicon production facilities, expanding solar cell and module production lines, biosimilars and other new business are
IndustryJuly 27, 2011
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Korea-Peru FTA to take effect in Aug.
The free trade accord between South Korea and Peru will take effect on Aug. 1, paving the way for the two countries’ trade and investment to increase sharply, the trade Ministry in Seoul said Wednesday.“The free trade deal with Peru will contribute to bolstering trade and investment and promoting cooperation in resources development. We expect that the trade pact will help South Korea expand into
July 27, 2011
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KDB’s H1 earnings more than double
South Korea’s state-run Korea Development Bank (KDB) said Wednesday its first-half earnings more than doubled from a year earlier on commission income from its investment banking business.Net income came to 1.02 trillion won ($972.7 million) in the January-June period, up 148.6 percent from the previous year, said the bank, an affiliate of KDB Financial Group Inc. Its operating profit jumped 106.3
IndustryJuly 27, 2011
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GS Engineering wins W402b order
GS Engineering & Construction Corp., South Korea’s third-largest builder, said Wednesday that it has won a 402 billion won ($383 million) contract to build subway sections in downtown Singapore.Under the deal with Singapore’s Land Transport Authority, GS Engineering will complete the project by the end of 2016, after starting work next month.GS Engineering said that it expects to post 74.5 billion
IndustryJuly 27, 2011
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Starbucks to introduce instant coffee
Starbucks Korea is considering launching its instant coffee mixes here soon, the president said Wednesday marking the 12th anniversary of the Seattle-based company’s Korean business.“The instant coffee brand, which was launched last year in Japan following the U.S., Canada, and the U.K., would be introduced to Korean consumers,” Lee Suk-koo, the head of Starbucks Korea, said in a press conference
IndustryJuly 27, 2011
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Adobe keen on tie-ups with Korean tech firms
Eager to ride the wave of mobile revolution that has swept Korea, the chief of Adobe Systems said he aims to double the firm’s revenues here through strong partnerships with local firms.“The goal (of my visit) is to visit significant partners as well as customers because business in Korea continues to grow quite significantly,” Shantanu Narayen, president and chief executive officer of Adobe Syste
IndustryJuly 27, 2011
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KEB faces penalties for irregular lending
Financial regulators have issued a caution against Korea Exchange Bank for unauthorized lending practices and are poised to levy a fine on the lender.The Financial Supervisory Service said Wednesday that it has cautioned the bank for breaching banking laws.The Financial Services Commission is also considering imposing fines of an unspecified value on the bank. It will be holding a panel discussion
July 27, 2011
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Korean currency could grow stronger
Won hits fresh 3-year high on U.S. debt crisis, recording 1,050 against dollarThe won hit a near 3-year high Wednesday, one of a basket of currencies strengthening against the U.S. dollar on jitters Washington may fail to agree on raising its debt ceiling.Investors unloaded dollars on fears of a possible U.S. debt default and sent the won to 1,049.10 by mid-day, its strongest level since September
July 27, 2011
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Major firms to increase payrolls in H2: poll
Major South Korean companies are set to recruit more employees in the second half of the year than a year earlier as the economy is on a solid growth path, a poll said Wednesday.According to the joint survey by the Korea Chamber of Commerce and Industry and Incruit, a local online job placement portal, 338 companies plan to hire a combined 17,361 employees in the July-December period, up 1.7 perce
July 27, 2011
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Banks face harsher stress tests on forex liquidity
South Korea’s top regulator said Wednesday that the watchdog plans to conduct stricter stress tests on local banks’ foreign currency liquidity conditions in a bid to shield the country from a potential financial crisis.Financial Supervisory Service Gov. Kwon Hyouk-se said the financial watchdog plans to make stress tests based on the second-quarter FX liquidity data by taking into account various
July 27, 2011
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Sulwhasoo targets Chinese women
Amore Pacific, Korea’ top cosmetics maker, is now targeting the fast-growing Chinese market, devising a premium positioning strategy with its high-end herbal medicine cosmetics brand Sulwhasoo.After successfully entering the markets in Hong Kong in 2004 and the U.S. in 2010, the brand Sulwhasoo made its Chinese debut this year. An advertisement for Sulwhasoo at Shin Kong Palace, a Beijing departm
IndustryJuly 27, 2011
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Amore Pacific creates beauty with herbal medicine
Premium brand Sulwhasoo realizes 66 years of research effortsAmore Pacific, Korea’s top beauty company, officially launched its high-end herbal medicine cosmetics brand Sulwhasoo in Beijing on June 22. With about 100 journalists and industry people in China and Hong Kong in attendance, CEO and president Suh Kyung-bae expressed strong confidence about the brand’s success in Asia as well as in China
IndustryJuly 27, 2011
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WTO’s Lamy sees paralysis in global trade talks
IndustryJuly 27, 2011
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Ford, Chrysler take Q2 hit to position for growth
DEARBORN, Michigan (AP) ― Ford’s ambitious plans to grow in Asia took a toll on its second-quarter profit, with higher costs to design and sell cars offsetting rising sales.The company’s net income fell 8 percent to $2.4 billion for the April-June period. Ford blamed higher prices for steel and other commodities, but also said that after years of restructuring, the company is strong enough to spen
IndustryJuly 27, 2011
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S&P sees second Greek debt haircut: report
IndustryJuly 27, 2011
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Watchdog panelist slammed for blog photos of genitals
By Cho Ji-hyunControversy is escalating over whether it was appropriate for a member of a media watchdog to post photos that some argue are “sexually offensive” on his personal blog.Last Wednesday, Park Kyung-sin, one of the nine commissioners at the Korea Communications Standards Commission, posted screen-grabs of photos of multiple male genitals published on other blogs on his own site, asking v
July 27, 2011
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LG Electronics narrows handsets loss in Q2
LG Electronics Inc., the world's third-largest mobile phone makers, said Wednesday that its second-quarter operating profit rose 25 percent from one year earlier, as its newly released smartphones helped the company narrow losses in the mobile business. Operating profit reached 158.2 billion won (US$150.9 million) in the April-June period, compared with an operating profit of126.2 billion won a ye
IndustryJuly 27, 2011