Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Investment banks expect BOK to hike key rate in May
Most global investment banks forecast South Korea's central bank to raise its key interest rate this month in a bid to rein in rising consumer prices, a report showed Monday. According to the report by the Korea Center for International Finance, the investment banks, including Goldman Sachs, predict the Bank of Korea (BOK) will hike the benchmark seven-day repo rate at a rate-setting session s
May 9, 2011
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Apple brand value overtakes Google for top spot
Apple Inc., maker of the iPhone, iPad and iMac, overtook search-engine giant Google Inc. to become the world’s most valuable brand, WPP Plc said in a report.Apple’s brand value climbed 84 percent in the past year to $153.3 billion, WPP’s Millward Brown unit said. Google’s brand lost 2 percent to $111.5 billion, ending four years atop the rankings, while International Business Machines Corp. climbe
TechnologyMay 9, 2011
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LCD panel prices rebound in 20 months
Prices of liquid crystal display (LCD) panels bounced back for the first time in 20 months earlier this month, industry data showed Sunday, signaling that the flat-screen panel industry is set to buck a downturn. The price of 40- to 42-inch LCD panels for TVs stood at US$235 in early May, up $3 from late last month, according to market research firm DisplaySearch. Since peaking at $360 in Septem
IndustryMay 8, 2011
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P.M.’s office soon to unveil plans to overhaul FSS
The Prime Minister’s Office is set to unveil a road map to reforming the nation’s financial regulatory body, which has been tarnished by a series of corruption scandals involving its staff and distressed savings banks.The reform plan, to be unveiled this week, will aims to reestablish public confidence in the embattled Financial Supervisory Service, which has been harshly criticized for failing to
May 8, 2011
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‘Jeonse’ system loses favor with landlords
Apartment buildings under construction in Seoul. (Bloomberg)Ahn Ji-eun, 34, lives in a two-bedroom flat in Hwagok-dong in western Seoul with her husband and twin daughters. She moved into the 70-square-meter unit (about 22-pyeong) a year ago as a tenant on a one-year contract and now she is desperate to renew it.“We are told to top up our key money by 30 percent or move out. I’ve been looking for
May 8, 2011
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Mega Mini is fun in traffic, seriously cool
The 2011 Mini Cooper S Countryman is a big Mini. Big, of course, is relative in this case, but this new four-door’s size rankles purists, who point to the name of the brand itself. You can’t have a super-size Mini.Yes, BMW says, you can.The Mini family, owned by BMW, now includes the various Cooper models, the larger Clubman and the all-new Countryman, which has been described as Mini’s SUV. The b
MobilityMay 8, 2011
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POSCO seeks opportunity in South America
POSCO, the world’s fourth-largest steelmaker, is stepping up efforts to expand into South America’s infrastructure and natural resource development projects.On Saturday, POSCO chief executive Chung Joon-yang, who was on a four-day tour of Chile, Ecuador and Honduras, signed a memorandum of understanding with Li3Energy to provide technological and financial collaboration. POSCO chief executive Chun
IndustryMay 8, 2011
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Yeosu begins 365-day countdown to Expo
A series of colorful events concerning the International Exposition Yeosu Korea 2012 will begin in Yeosu, South Jeolla Province on Tuesday.The three-month long event will be held at the southern port city from May 12, 2012 until Aug. 12.According to the provincial and city governments, and the event’s organizing committee, a celebratory event will be held at a sports stadium in the southern city o
IndustryMay 8, 2011
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Ministry begins new project for energy experts
The Ministry of Knowledge Economy said Sunday that it will inject 13.6 billion won ($12.5 million) into securing human resources pool for energy-related fields.Under the program, the ministry said it will support higher education institutions to train energy professionals, and help their research efforts.Overall, the ministry estimates that the projects will produce 3,600 energy professionals on a
IndustryMay 8, 2011
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Chrysler to release New Compass
Chrysler Korea will launch special editions of the New Compass in celebration of its 70-year-old Jeep. All Jeep models will be rolled out as new editions to celebrate 70 years of the brand, including the 2011 Jeep Compass 70th Anniversary Edition, Jeep Grand Cherokee, Jeep Liberty, Jeep Patriot and Jeep Wrangler. They will come in three exterior colors ― bronze Star, bright silver and black. “The
MobilityMay 8, 2011
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Volvo Korea offers free check-ups
Volvo Cars Korea is offering free check-ups on air conditioners and engine oil as part of its spring promotion. Available until June 11, the service will run at 12 Volvo Cars Korea service centers across the country where Volvo drivers can receive free filters on engine oil replacement on top of the free check-up.“We’re offering the service so that drivers can ready themselves for more family outi
MobilityMay 8, 2011
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GM reveals lightweight Chevrolet Aveo sedan
GM Korea Co. on Tuesday revealed a Chevrolet Aveo sedan, expanding its product lines for sporty compact models.The four-door saloon version kept the same front-end design with twin headlamps and 53-centimeter alloy wheels. The compact sedan offers segment-best trunk capacity that is reportedly is biggest in size among subcompact models out in the market. The vehicle has a price range of 11.09 mill
MobilityMay 8, 2011
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Ssangyong takes H New Classic reservations
Ssangyong Motors began taking reservations Wednesday for the Chairman H New Classic first unveiled at the Seoul Motor Show 2011.The third generation sedan is available for reservations at 140 Ssangyong Motors branches across the country, with 3 percent discount on car insurances for those finalizes their booking by the end of July.A 1 million won ($924) discount is available for returning customer
MobilityMay 8, 2011
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Small cars lead U.S. auto sales higher in April
DETROIT (AP) ― Small cars sold briskly in the U.S. last month, as gasoline prices rose and some buyers worried about shortages of Japanese-made vehicles after the March earthquake there.Analysts expected overall industry sales in the U.S. to increase 19 percent from April of last year.Don Johnson, GM’s vice president of sales and marketing, said consumers shifted into smaller cars starting in Marc
MobilityMay 8, 2011
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Bigger now better in fuel efficiency race
With Hyundai and Kia releasing gasoline-hybrid electric vehicles, you might want to consider something bigger than a compact model. Mid-sized cars can be just as fuel efficient.No compact cars were included in the list of top 10 most fuel efficient models for the first time after Hyundai Motor Group’s Sonata, K5, and Volkswagen’s Jetta BlueMotion joined the race this month ― your bigger and more p
MobilityMay 8, 2011
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Android smartphones widen lead in U.S. market
SAN FRANCISCO (AFP) ― Smartphones powered by Google software widened their lead on BlackBerry handsets in the U.S. market during the first three months of the year, industry tracker comScore reported on Friday.Android smartphones dethroned BlackBerry in January by capturing 31.2 percent of the U.S. market and that share grew to 34.7 percent by the end of March, according to comScore. A Samsung Ele
IndustryMay 8, 2011
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Russian-American buys Warner Music
NEW YORK (AFP) ― Russian-American billionaire Len Blavatnik’s Access Industries won a bidding war on Friday for Warner Music Group, buying the storied music company for $3.3 billion in an all-cash transaction.The sale of Warner Music, whose artists range from current stars such as Eric Clapton and Kid Rock to legends such as Frank Sinatra and Ray Charles, comes at a challenging time for the music
IndustryMay 8, 2011
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Satisfaction depends on length of “happiness gene”
A person’s happiness and satisfaction in life depends on the form of a specific gene they have, a research conducted by a behavioral economist of the London School of Economics and Political Science showed. The research reported on by the U.K.’s Press Association found out a strong link between the “5-HTT” gene and happiness by analyzing genetic data from more than 2,500 participants. They were as
TechnologyMay 8, 2011
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Korea to cut collusion in financial sector
The administration and the National Assembly have begun in earnest to reform the nation’s top financial watchdog, to cut its long-held collusive ties with financial companies it supervises.Assessing that the Financial Supervisory Service, hit by a series of corruption scandals involving its former and incumbent staff, cannot complete a self-purification drive, the Prime Minister’s Office is pushin
May 6, 2011
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1.5 trillion won flees from savings banks
The total amount of deposits at local savings banks plunged by 1.5 trillion won ($1.4 billion) during the past four months due to concerns over their security, according to a report released by the Korea Deposit Insurance Corp. on Friday. The tota of deposits held at 96 savings banks nationwide stood at 64.8 trillion won at the end of April, according to the staterun deposit insurer. The figureexc
May 6, 2011