Renault Samsung Motors Co. and the Road Traffic Authority formed a partnership to collaborate on promoting road safety for children on Monday. Under the agreement, the carmaker and the state-run organization will collaborate in educating children about traffic safety, and establish a system for cooperation and mutual support in reducing traffic accidents involving children, Renault Samsung said....

Hyundai Motor Co. is hiring interns for the summer. The internship is open to university students who are scheduled to graduate in February 2012. The company is receiving applications through its public relations homepage at pr.hyundai.com from Tuesday until May 2. Successful applicants will work for five weeks at the company’s local and overseas operations during the summer vacation. The com...

Hyundai Heavy Industries, the world’s largest shipyard, announced Monday that it won contracts for five vessels, worth 900 billion won ($826 million), pushing up the value of contracts won, including those awarded to its subsidiary Hyundai Samho Heavy Industries Co., this year to $9.2 billion. The figure accumulated so far this year is about 46 percent of the $19.8 billion target the company has...

Samsung Electronics Co. said Monday that it will roll out new refrigerators in the U.S. market this month with a flat screen that displays services from Twitter Inc., Google Inc. and the latest news from The Associated Press. The company will release two new side-by-side fridges with an 8-inch touchscreen that displays short-message updates from Twitter and Google as well as news and weather inf...

State-run Korea Electric Power Corp. said Monday that it will launch a 200 million won ($180,000)-prize to acknowledge distinguished energy-related research. The biennial KEPCO Research Grand Prix, being introduced to mark the firm’s 50th anniversary this year, is aimed at encouraging and supporting the works of local researchers and academics, KEPCO officials said. Full university professors a...

The authorities may introduce measures to limit underage smartphone users’ access to applications stores, sources said Monday. The Korea Communications Standards Commission is considering adding software to smartphones to limit access to adult content available in application stores, or setting up separate applications stores according to the content provided. While smartphone applications have...

South Korea's listed companies paid out 33 percent more in dividends to foreign shareholders in 2010 than a year earlier, helped by an increase in earnings, data showed Monday. A total of 4.97 trillion won ($4.6 billion) in dividends were paid to foreigners last year, compared with 3.73 trillion won in the previous year, according to the data by the Korea Exchange (KRX). Last year's dividend pa...

South Korean banks' mid to long-term foreign borrowing jumped in March from the previous month as they braced for rising global uncertainties, the financial regulator said Monday. Twelve local banks borrowed a total of $3.49 billion last month through overseas bond issuance and loans with a maturity over one year, $1.68 billion more than in February, according to the Financial Supervisory Servic...

South Korean stocks lost ground on Monday after a strong start as investors unloaded tech blue chips and bank shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.29 points, or 0.06 percent, to trade at 2,139.21 in the first 15 minutes of trading. The KOSPI touched a record high of 2,149.45 as soon as the market opened, but tech and financial shares increased th...

Kwon Hyuk, a reclusive shipping tycoon, shows how to get around paying taxes in and out of more than five trading borders while keeping over 10 trillion won ($9 billion) in assets. Register your business at a tax haven, stash all your profits there, and pretend you live abroad. Minimize paperwork. Even better if you can avoid the press. Kwon has been the main target of the Korean government’s l...

Prosecutors said Saturday they plan to summon witnesses to determine why the banking network of the country’s farm cooperative crashed. The Seoul Supreme Prosecutors’ Office said about 20 National Agricultural Cooperative Federation (Nonghyup) and IBM Korea employees will be questioned in relation to the network glitch that has affected services since late Tuesday. People have not been able to ...