Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Korea enters full election mode
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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Credit card firms’ 2010 earnings up
Korean credit card companies saw earnings surge 46.1 percent last year from a year earlier due mainly to one-off gains, the financial regulator said Thursday.The combined net profit of six local credit card-only companies reached 2.72 trillion won ($2.4 billion) in 2010, compared with 1.86 trillion won in 2009, the Financial Supervisory Service (FSS) said in a report.The stronger bottom line came
March 10, 2011
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LGD says Sony mulling use of its 3-D tech
The head of LG Display Co., the world’s No. 2 maker of liquid crystal display (LCD) panels, said Thursday electronics giant Sony Corp. is mulling using its proprietary 3-D panels for the Japanese company’s 3-D TVs.Kwon Young-soo made the remark amid its on-going battle with Samsung Electronics Co. to win the 3-D TV industry standard. LG Display developed the proprietary film patterned retarder (FP
IndustryMarch 10, 2011
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Samsung sets sights on Africa for growth
Samsung Electronics Co., the world’s largest maker of flat-screen TVs by shipments, is pinning its hopes on African countries to fuel sales growth of flat-screen TVs, a company executive said Thursday.“Africa has huge growth potential,” Yoon Boo-keun, president of Samsung’s visual display division, told reporters ahead of his departure to the continent. “Cathode ray tube (CRT) TVs have been mainst
IndustryMarch 10, 2011
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Korea vulnerable to oil price hikes: Goldman
Higher oil prices will have a greater impact on Korea than other Asian economies, Goldman Sachs said, indicating its economic growth is more exposed to oil price risks.Goldman Sachs said Korea’s economic growth, along with that of Taiwan, Thailand and Singapore, will be reduced by 30 basis points in proportion to a 10 percentage point rise in global crude oil prices.Countries in Asia, with the exc
March 10, 2011
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Kim to remain as Hana chairman
Hana Financial Group Inc. has nominated its current chairman to continue leading the country’s fourth-largest financial holding company for another year.The group’s board of directors made the decision on Wednesday in a bid to successfully finalize its takeover of Korea Exchange Bank, which started under the leadership of Chairman Kim Seung-yu, according to Hana Financial. Kim Seung-yuThe finaliza
March 10, 2011
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Hyundai unveils new 3-door compact car
Korea’s top automaker Hyundai Motor on Thursday unveiled a three-door compact car aimed at younger customers, after a 40-month development program costing 270 billion won ($242 million).The Veloster is the company’s first vehicle with an odd number of side doors ― one on the driver’s side and two on the passenger side. Hyundai Motor Co. launches its new compact passenger vehicle, the Veloster, in
MobilityMarch 10, 2011
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U.S. lawmakers threaten to stall Korea trade pact
WASHINGTON (AFP) ― U.S. lawmakers on Wednesday threatened to hold up a trade pact with Korea unless President Barack Obama’s administration moves ahead on separate deals with Colombia and Panama.Obama, who faces skepticism on free trade from part of his Democratic Party’s base, has publicly called for approval of deals with all three nations this year but wants time to fine-tune the packages with
March 10, 2011
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Producer inflation hits 2-year high
Korea’s producer prices rose at the fastest pace in more than two years in February due to a hike in international oil and commodity prices, the central bank said Thursday.The producer price index (PPI), a barometer of future consumer inflation, climbed 6.6 percent in February from a year earlier, up from 6.2 percent the previous month, according to the Bank of Korea.It marked the fastest expansio
March 10, 2011
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Ministry to review FTA documents, translations
The Ministry of Foreign Affairs and Trade will review the entire text of the Korean-language version of the Korea-EU Free Trade Agreement, and correct any errors found before the provisional session of the National Assembly scheduled to begin in April.“Review will take place over the next three weeks from today until the end of March,” Deputy Trade Minister Choi Seok-young said. “A temporary taskf
IndustryMarch 10, 2011
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FTC OKs Hana’s purchase of KEB
The Fair Trade Commission ruled on Thursday Hana Financial Group’s takeover of Korea Exchange Bank does not violate competition rules, bringing the nation’s fourth largest banking group a step closer to winning regulatory approval due next Wednesday.The watchdog notified the Financial Supervisory Commission that the planned purchase does not necessarily reduce competition in the industry as the nu
March 10, 2011
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NPS halts trading with Deutsche Bank Korea
Korea’s biggest investor the National Pension Service said Thursday that it would stop placing stock and derivative orders with the Korean branch of Deutsche Bank AG for six months following the regulator’s six-month suspension of the local unit. The pension fund will not trade through the German brokerage “to limit exposure to institutions that received regulatory penalties, in order to reduce th
March 10, 2011
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SK E&S, Kolon to build steam plant in Gimcheon
SK Energy & Service, a local provider of city gas and electricity, said Thursday it began the construction of a steam power generation plant in Gimcheon, South Gyeongsang Province, together with Kolon Engineering & Construction. The SK E&S and Kolon will jointly invest 250 billion won ($220 million) for the plant which has a capacity to produce 1.5 million tons of steam a year, the firm said. SK
IndustryMarch 10, 2011
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KORES drops bid for Australia coal producer
A consortium led by state-run Korea Resources Corp. has dropped a bid for an Australian coal producer to focus more on other businesses, KORES said Thursday.“Coal is no longer a priority when it comes to our business. We have been concentrating more on developing other minerals such as rare earth metals and lithium lately,” a KORES official told The Korea Herald. The consortium also includes local
IndustryMarch 10, 2011
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Hyundai firms mark founder’s memorial
Hyundai family groups Thursday began 11 days of commemoration for the 10th anniversary of the death of founder Chung Ju-yung.The former Hyundai Group chairman is widely respected for his contribution to Korea’s emergence from a war-torn basket case to an industrial powerhouse. He died from complications brought on by pneumonia on March 21, 2001 at the age of 85 leaving behind a colossal business e
IndustryMarch 10, 2011
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KOTRA to offer consultations to foreign firms
State-run Korea Trade-Investment Agency said Thursday that it will offer visiting consulting services for foreign firms in the country, aiming to boost their investments. “The consulting service is expected to raise the amount of foreign direct investments in the country, as we will visit foreign firms here and try to solve their difficulties from now on,” the trade agency said. The Investment Con
IndustryMarch 10, 2011
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Games industry to benefit from deregulation
But industry officials complain that multiple issues still have to be dealt withAttention is focusing on what impact the revised bill to open up the game market will have on the local gaming industry.The parliamentary legislation committee passed a revised bill on game industry promotions Wednesday, following a two-year delay.According to the revision, games that are designed to be released in an
IndustryMarch 10, 2011
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POSCO chief to head multicultural forum
POSCO chief executive Chung Joon-yang was appointed as the co-chief of the Ministry of Gender Equality and Family’s expert forum on multicultural families, the steelmaker announced Thursday.Chung will head the forum with Chung-Ang University honorary professor Kim Yang-hee. Chung Joon-yangPOSCO said that Chung was selected as the co-chief of the forum, which consists of experts from concerned fiel
IndustryMarch 10, 2011
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Could gene tests reveal future sports stars?
CHICAGO (AP) ― Was your kid born to be an elite athlete? Marketers of genetic tests claim the answer is in mail-order kits costing less than $200.Some customers say the test results help them steer their children to appropriate sports. But skeptical doctors and ethicists say the tests are putting profit before science and have a much greater price tag ― potentially robbing perfectly capable youngs
TechnologyMarch 10, 2011
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Daejeon Ye Dental gains JCI approval
Daejeon Ye Dental Clinic earned accreditation from Joint Commission International in January. This type of accreditation ― a first for a Korean clinic ― is widely used to evaluate the overall facilities as well as the techniques and services of a medical institute according to an international standard. “Earning accreditation from the JCI will be another step toward excellence,” said clinic chief
TechnologyMarch 10, 2011
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Constipation on rise among teens
The number of people suffering from constipation is on a steep rise, the National Health Insurance Corporation said Monday. According to its research on insurance payments between 2002 and 2009, 1.428 million people were treated for constipation in 2009, which is about a 50 percent jump from 2002’s 927,000.Women outnumbered men 800,000 to 630,000 and teenagers showed a significant increase of 7.65
TechnologyMarch 10, 2011