Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Will tug-of-war between doctors, government end soon?
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Yoon's approval rating plunges to all-time low
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Business tycoons likely to miss FKI meeting
The buzz about the May 19 meeting of the Federation of Korean Industries’ executives has begun to fizzle as industry sources said chiefs of the nation’s top conglomerates are unlikely to attend. Samsung Electronics Chairman Lee Kun-hee, LG Group Chairman Koo Bon-moo, SK Group Chairman Chey Tae-won and Hyundai Motor Chairman Chung Mong-koo have all tentatively notified the FKI that they will not be
IndustryMay 9, 2011
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SK Chemicals aims for W3tr sales by 2015
Company aims to earn W2tr from green chemicals businessSK Chemicals will aim to make 3 trillion won ($2.8 billion) in sales in 2015, chief executive Kim Chang-geun recently told his company, SK Chemicals said Monday.SK Chemicals is a pharmaceuticals and chemicals maker affiliated to the country’s third largest conglomerate, SK Group. The company currently holds the largest share of Korea’s market
IndustryMay 9, 2011
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Four financial groups may see 10 trillion won in profit
Four major financial groups are expected to reap more than 10 trillion won ($9.3 billion) in combined net profit this year, mainly buoyed by revised accounting standards.The market is focusing on the growing feasibility of their all-time high earnings as they reported remarkable earnings during the first quarter.Profits posted by the four groups ― KB, Woori, Shinhan and Hana ― reached 2.6 trillion
May 9, 2011
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Ex-FSS, BOK officials on troubled banks’ payrolls
Data shows practice leads to collusion between lenders and watchdogOne in three savings banks suspended in the last decade had hired former officials from the financial watchdog or the central bank as auditors, a report said.Analysts said the data demonstrates long-held collusive ties that public agencies have had with the lenders they supervise.The findings by the Korea Federation of Savings Bank
May 9, 2011
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LVMH gains, Gucci declines in brand value
Louis Vuitton, the French maker of laminated canvas handbags, is the world’s most valuable luxury brand for the sixth consecutive year, a research group said. The brand, owned by Paris-based LVMH Moet Hennessy Louis Vuitton SA, has a value of $24.3 billion, an increase of 23 percent from 2010, according to Millward Brown Optimor’s 2011 BrandZ study published Monday. That’s almost as much as the co
IndustryMay 9, 2011
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Darwin's travels may have led to illness, death
Charles Darwin (AP-Yonhap News) BALTIMORE (AP) -- The very travels that inspired Charles Darwin's theory of evolution and shaped modern biology may have led to one of the illnesses that plagued the British naturalist for decades and ultimately led to his death, modern researchers say. Darwin's ailments are the topic of an annual conference in Baltimore on Friday that offers modern medical diag
TechnologyMay 9, 2011
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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