Most Popular
-
1
Yoon sorry for shortcomings but insists policies were right
-
2
1 in 3 Koreans live alone, family types becoming diverse
-
3
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
4
US 'incredibly concerned' about suspected NK-Iran military ties
-
5
Korean won weakens amid heightened uncertainty
-
6
Sewol victims commemorated on tragedy's 10th anniversary
-
7
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
8
Chanel, Louis Vuitton see muted growth in Korea
-
9
K-pop singer lost consciousness after being hit by foul ball, cancels show
-
10
Conservative bloc divided over Han’s role in election defeat
-
Controversy to elevate on location-based service bill
By Cho Ji-hyunThe government has approved a plan to relax the regulations on cellphone location-based services amid rising public calls for better state privacy protection measures.The Cabinet endorsed Tuesday a revised regulation on protection and use of location information, which aims to give more room and flexibility for location-based service operators. According to the bill, service provider
April 27, 2011
-
POSCO expands fair trade, shared growth programs
Industry and goverment officials including POSCO chief executive Chung Joon-yang (fourth from left, front row), Fair Trade Commission Chairman Kim Dong-soo (fifth from left, front row) and head of the Commission on Shared Growth for Large and Small Companies Chung Un-chan (sixth from left, front row) at POSCO’s office in Seoul after the steelmaker and subsidiaries signed an agreement to promote fa
IndustryApril 27, 2011
-
Buying power weakens despite GDP growth
By Kim Yon-seKorean consumers’ purchasing power has weakened on average even though the economy sustained its pace of growth during the first quarter, a Bank of Korea report showed Wednesday.The central bank said the country saw its growth rate of gross domestic product post 4.2 percent in the first quarter on a year-on-year basis and 1.4 percent on a quarter-to-quarter basis.But the gross domesti
April 27, 2011
-
Korean Air introduces premium services
Korean Air, the country’s top air carrier, introduced a number of new services on Wednesday, including an upgraded menu on some routes and a new cosmetic skin care set, in a bid to enhance its in-flight services. Heather Cho (fourth from left), senior vice president at Korean Air and DAVI’s chairman Carlo Mondavi (third from left) after featuring a new amenity cosmetic skin care set for business a
IndustryApril 27, 2011
-
Prices of DRAM chips remain below $1: report
Prices of dynamic random access memory (DRAM) devices rose marginally in the second half of this month but stayed below the $1 level, an industry report showed Wednesday, casting doubts on the prospect for their quick recovery.The contract price of the benchmark DDR3 1-gigabit 128Mx8 1066-megahertz device rose 1.03 percent from the first half of this month to $0.98 in the second half, according to
IndustryApril 27, 2011
-
Foreign life insurers take up 17% of Korean market
Foreign life insurance companies operating in South Korea claimed 16.9 percent of the local market in terms of assets last year, industry data showed Wednesday.The combined assets of the nine foreign life insurers reached 68.9 trillion won ($63.8 billion) as of the end of 2010, according to the data. However, the figure is dwarfed by the 408.4 trillion won in total assets held by the three leading
April 27, 2011
-
Q1 auto exports to Eastern Europe surge
South Korea’s automobile exports to Eastern Europe rose sharply in the first three months of this year thanks to an economic recovery in the region, a local automobile association said Wednesday. During the January-March period, South Korean car makers’ auto exports to Eastern Europe, including Russia, reached 72,393 units, compared with 37,670 units a year earlier, according to the Korea Automobi
IndustryApril 27, 2011
-
May manufacturing sentiment at 8-month high
South Korean manufacturers’ business confidence for May rose to the highest level in eight months due to optimism about the economic recovery, the central bank said Wednesday.The index of manufacturers’ outlook on business conditions reached 100 for May, up from 95 for April, according to the Bank of Korea (BOK). The index measures manufacturers’ outlook on business conditions for the coming month
April 27, 2011
-
Lone Star haunts FSC chief for 8 years
Ruling on Lone Star’s eligibility as KEB owner postponedThe Financial Services Commission decided to delay its ruling on the issue of Lone Star Funds’ eligibility as the majority shareholder of KEB.The decision marks a shift from its earlier stance to rule on whether the U.S. fund was a financial investor in 2003 in its scheduled panel meeting Wednesday.Though the issue has come into the spotlight
April 27, 2011
-
Tycoon families prefer to live in Gangnam: report
By Koh Young-aahSeoul’s Gangnam area, on the southern side of the Han River, has emerged as a popular residential area for families of the country’s top 30 tycoons over the years, a research firm said in a report Wednesday.Seongbuk-dong and Hannam-dong, located in Gangbuk, north of the river, have historically been considered wealthy areas where most local conglomerate owners reside.The trend, how
IndustryApril 27, 2011
-
LG Electronics post Q1 profit after two quarterly losses
By Cho Ji-hyunLG Electronics announced its comeback Wednesday by getting back into the black, posting 13.15 trillion won ($12.19 billion) in sales and 130 billion won in operating profit for the first quarter of this year.In its quarterly earnings report, the company said total sales maintained a similar level to the same period last year, down 0.4 percent. However, its net loss during the term wa
IndustryApril 27, 2011
-
‘Knowing market key for foreign retailers’ entry here
By Koh Young-aahForeign retailers seeking to enter the Korean market should consider its unique traits and cultural differences to succeed, according to Richard Hwang, managing director of global commercial real estate services firm Cushman & Wakefield’s Korean unit. “A lot of global retailers have experienced failure here because they had little understanding of the market before entering it. As
IndustryApril 27, 2011
-
KAIST develops robotic offshore docking system
South Korean engineers successfully tested the world’s first operational automatic docking system between two large ships off the country’s southeastern coast, a state-run science and technology university said Tuesday.The test carried out in Busan, 453 kilometers southeast of Seoul, is an integral part of the larger “mobile harbor” project that aims to make it possible to speed up the loading and
IndustryApril 27, 2011
-
Ford posts best Q1 profit in 13 years
DETROIT (AP) ― Ford posted its best first-quarter profit in 13 years, as its new, more fuel-efficient vehicles reached showrooms during a surge in gasoline prices.New arrivals such as the Ford Explorer and Fiesta small car are selling well. Company profits are growing around the world. And Ford is charging more for its cars, helping offset higher commodity costs.Ford Motor Co. on Tuesday said its
IndustryApril 27, 2011
-
Samsung to build green energy complex in reclaimed Saemangeum
Samsung Group, South Korea’s top conglomerate, will build green-energy industrial facilities from 2021 in a new town to be created on west coastal tidal flats, the Prime Minister’s Office (PMO) said Wednesday.Samsung signed a memorandum of understanding with the government to construct green-energy production facilities, a research institute and houses on a 11.5-square-kilometer plot in the Saeman
IndustryApril 27, 2011
-
Greece’s deficit bigger than forecast
Government deficit reaches 10.5% of GDP in 2010, above 9.6% predicted by EUBRUSSELS (AP) ― Greece’s government deficit was significantly bigger than forecast last year, European Union data showed Tuesday, underlining the difficulties the debt-ridden country is having to get its finances under control.Greece’s deficit hit 10.5 percent of economic output in 2010, well above the 9.6 percent the Europ
IndustryApril 27, 2011
-
Young students have high blood pressure: report
Elementary school kids are jumping rope for heart health in a physical activity session (Yonhap News)About 5.8 percent of elementary and secondary school students have high blood pressure, and six out of 10 have bad eyesight, a report showed Tuesday.The findings came from a regular checkup by schools in Gyeonggi Province from last March to February this year. The number of students with high blood
TechnologyApril 27, 2011
-
8 out of 10 employees work late: survey
(MCT)Eight out of ten employees work overtime, half of them without any reward, a study showed Tuesday.In a survey conducted by Saramin, an online recruitment website in Korea, about 75.9 percent of respondents worked overtime, with 45.8 percent of them doing so without proper compensation.More than 54 percent of respondents who worked overtime said they were considering quitting their jobs. Most
IndustryApril 27, 2011
-
Sony PlayStation suffers massive data breach
TechnologyApril 27, 2011
-
S. Korean economy grows 1.4 pct in Q1
The South Korean economy grew 1.4 percent in the first quarter from three months earlier on sustained exports and improving domestic demand, the central bank said Wednesday.The first-quarter growth accelerated from a 0.5 percent on-quarter expansion seen in the fourth quarter of last year, according to an advance estimate by the Bank of Korea (BOK). The country's gross domestic product (GDP), the
April 27, 2011