Most Popular
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Opposition head pleads for support in ‘fight against Yoon dictatorship’
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Koreans prefer cash in Chuseok gifting for parents
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Apple to launch iPhone15 series in S. Korea on Oct. 13
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S. Korea, US conduct underwater search operation for downed jet, Korean War remains
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[Well-curated] A weekend for fall-time festivities
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BTS' Suga begins military service
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[Jean Guerrero] What first-generation students need
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Surveillance cameras to be a must in hospital operating rooms
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Opposition party leader ends 24-day hunger strike for treatment
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U.S. finalizes national security 'guardrails' for CHIPS funding
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Korea aims to become mobile leader by 2015
Next-generation networks to be set up from this yearThe government said Wednesday that it will speed up the establishment of next-generation mobile communication systems, aiming to lead the global wireless market by 2015.The Korea Communications Commission and the Ministry of Knowledge Economy said they will secure key technologies, such as fourth-generation telecommunication technologies, and bui
Jan. 26, 2011
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Korea catches up in water technologies
Korea has significantly narrowed the gap with advanced countries in water-related technologies under a government initiative to nurture growth, officials said Wednesday.For the past decade, the level of Korea’s technological capabilities in related fields have risen to about 80 percent that of advanced nations from 40 percent, according to the Ministry of Land, Transport and Maritime Affairs. A to
IndustryJan. 26, 2011
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Inflation dampens consumer sentiment
Public optimistic but worried about future price increasesKorea’s consumer confidence declined in January as higher inflation is feared to hurt the livelihood of low- and middle-income households, the central bank said Wednesday.The outlook for inflation reinforced the widespread expectation for another interest rate increase as early as in March. The consumer sentiment index ― a gauge of consumer
Jan. 26, 2011
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Daewoo E&C to retain CEO Seo
Daewoo Engineering & Construction CEO Seo Jong-uk was reappointed to the post for a three-year term, the firm said Wednesday.The nation’s fourth-largest builder said it held general and board meetings Tuesday and made the decision, despite recent changes it has undergone. It was acquired by Industrial Bank of Korea late last year. IBK currently holds 50.8 percent of the firm’s share. Seo Jong-woo
IndustryJan. 26, 2011
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Finance sector braces for shake-up of key posts
Ex-minister Kang heads potential candidates for major private, public institutionsA number of highest-level personnel changes are expected in the financial market during the first quarter of this year, with attention focused on whether President Lee Myung-bak’s confidant Kang Man-soo and other senior bureaucrats land top industry posts. Woori Financial Group, Shinhan Financial Group, Hana Financi
Jan. 26, 2011
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Korea, U.S. to finalize FTA text soon
Korea and the U.S. will soon conclude work on the final text of their recently concluded free trade agreement, paving the way for the pact to be ratified in both countries, a high-ranking trade official said Wednesday.In December last year, both countries reached a final agreement focusing on U.S. demands that Korea soften its automotive safety and environmental standards.The Korea-U.S. free trade
Jan. 26, 2011
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Rice wine exports hit record high in 2010
Exports of Korea’s traditional rice wine makgeolli reached an all-time high last year thanks to high demand in Japan and a spike in shipments to China, a report showed Wednesday.Makgeolli exports reached $19.1 million in 2010, up from $6.3 million a year earlier, said the report by the Korea Agro-Fisheries Trade Corp.By country, Japan topped the list of importers with shipments totaling $15.6 mill
IndustryJan. 26, 2011
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Port cargo handling hits record high in ’10
Volume of cargo handled at Korea’s seaports hit a record high last year thanks to improving economic and business conditions, the transportation ministry said Wednesday.The nation’s seaports handled an all-time high of 1.2 billion tons of cargo last year, up 11.8 percent from a year earlier, according to a report by the ministry. In December, cargo handling also jumped to a monthly record of 110 m
Jan. 26, 2011
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Galaxy Tab sales top 2m in 3 months
Samsung Electronics Co., the world’s second-largest maker of mobile phones, said Wednesday that it has sold more than 2 million units of the Galaxy Tab tablet computer within three months of its global debut. Samsung achieved the sales figure this week as the company sells the 7-inch, Android-running tablet through some 200 mobile carriers in 94 countries, the company said. About 500,000 units of
IndustryJan. 26, 2011
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SK Telecom selects LTE networks suppliers
Korea’s largest mobile carrier SK Telecom Co. said Wednesday that it will hire three companies to supply equipment to build a long-term evolution network as the mobile operator braces for a surge in wireless data demand. Samsung Electronics Co., LG-Ericsson Co. and Nokia Siemens Networks B.V. will supply equipment for the LTE network, SK Telecom said in a statement. The mobile operator plans to st
IndustryJan. 26, 2011
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Woori, Shinhan, Hana bid for ailing savings bank
Three banking groups, including top financial firm Woori Finance Holdings Co., expressed their intention to buy an ailing savings bank Tuesday, a state insurance agency that arranges the deal and sources said.On Jan. 14, the financial regulator suspended mid-sized Samhwa Mutual Savings Bank for six months as it failed to meet regulatory capital requirements. State-run Korea Deposit Insurance Corp.
Jan. 26, 2011
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Koreans agonize over spiraling cost of rent
Hong Jun-ho is busy preparing to move out of the home his family has lived in for the past two years in southern Seoul. With the lease on his riverside apartment about to expire, the 34-year-old English teacher feels quite lucky to have found a new home in northern Seoul. It is affordable, located near his new school and also near his in-laws’ house.But without such luck, he could have been in ser
Jan. 26, 2011
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Samsung Electronics to hire more workers in China
HONG KONG (Yonhap News) -- Korean tech behemoth Samsung Electronics Co. is expected to hire more employees in China in an effort to enhance its display production there, company officials said Wednesday.Samsung Electronics plans to hire dozens of professionals for process manufacturing, quality management and production management of its liquid crystal display (LCD) production facilities in China,
IndustryJan. 26, 2011
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Bentley introduces new Series 51 models
Bentley Korea, the local importer of British automaker Bentley Motors Ltd., on Wednesday introduced the latest models of Bentley’s super luxury sedan, the Continental Flying Spur, in Korea.The new Flying Spur Series 51 come in two trims ― the Flying Spur and the Flying Spur Speed ― both equipped with a V12, 6.0-liter engine that produces a maximum horsepower of 600.The Continental Flying Spur has
IndustryJan. 26, 2011
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Yahoo’s earnings double despite ebbing revenue
SAN FRANCISCO (AP) ― Yahoo Inc.’s fourth-quarter earnings more than doubled, but the Internet company’s sagging revenue showed that it is still lagging in the high-stakes race for online advertising.The results announced Tuesday illuminated why many investors are wondering if Yahoo CEO Carol Bartz is the right person for the job as she enters the second half of a four-year contract she signed in
IndustryJan. 26, 2011
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S. Korea's labor productivity ranks low among OECD nations: report
South Korea's labor productivity ranked relatively low among the member nations of the Organization for Economic Cooperation and Development last year, a report showed Wednesday.Labor productivity per worker in South Korea totaled US$56,374 last year, ranking 23rd among 31 OECD member countries, according to the report offered by the Ministry of Knowledge and Economy.Labor productivity is measured
Jan. 26, 2011
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One-man biz start-ups rise on mobile boom: data
The number of one-man businesses in South Korea sharply expanded in 2010 on the back of the country's rapidly growing mobile content market, data showed Wednesday. The rise came on the heels of a smartphone boom that hit South Korea last year following the release of Apple Inc.'s iPhone and Samsung Electronics Co.'s Galaxy S smartphone. There are an estimated 7 million smartphone users in the c
Jan. 26, 2011
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Hyundai Capital bonds garner keen investor interest
Overseas investors have shown a keen interest in new bonds issued by Hyundai Capital Service Inc., a financial unit of South Korea's Hyundai Motor Group, financial sources here said Tuesday. Hyundai Capital Services successfully raised US$700 million byselling bonds maturing in five-and-a-half years. The bonds carry aninterest rate of 245 basis points above U.S. government debts. Bookr
IndustryJan. 25, 2011
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Three banking groups likely to bid for Samhwa
Three banking groups, including top financial firm Woori Finance Holdings Co., have expressed their intention to buy an ailing savings bank, a state insurance agency that arranges the deal and sources said Tuesday. On Jan. 14, the financial regulator suspended mid-sized SamhwaMutual Savings Bank for six months as it failed to meet regulatorycapital requirements. State-run Korea Deposit Insu
Jan. 25, 2011
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Korea develops most advanced wireless tech
Korean researchers Tuesday unveiled the most advanced wireless network technology, boosting potential for the country to lead the future telecommunications market.The state-run Electronics and Telecommunications Research Institute in Daejeon demonstrated the Long Term Evolution-Advanced technology which is 40 times faster than the current third-generation wireless network.“It is meaningful that we
TechnologyJan. 25, 2011
