Most Popular
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Allies face test with return of Trump’s transactional diplomacy
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Korea on alert over reshaped global economy during Trump's 2nd term
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‘Trump may seek surprise NK deal at expense of Seoul’
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Yoon apologizes but denies wife's role in state affairs
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Sought by prosecutors: Key man in Yoon presidential couple’s political drama
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Poster of Kim Jong-un behind bars launches S. Korean groups' anti-NK campaign in Geneva
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Police clear Jessi of charges in fan assault case
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Korean auto, battery firms buckle up for second Trump term
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First lady to keep low profile as Yoon’s ratings hit new low
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Yoon, Trump, in phone call, agree to hold meeting at early date
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Asians target U.S. hotels as wealthy travel
High-end hotels in large U.S. cities are attracting buyers from Hong Kong, China and Singapore seeking to cater to a growing number of affluent Asians traveling abroad. Acquisitions by Asian investors probably will climb to the “low double digits” of all U.S. hotel deals this year, said John Strauss
IndustryAug. 2, 2011
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U.S. factory growth weakest in 2 years
Manufacturing activity barely grew in July; slump could extend through summerWASHINGTON (AP) ― Manufacturers had their weakest growth in two years in July, a sign that the economy could weaken this summer.The Institute for Supply Management, a trade group of purchasing executives, said Monday that i
IndustryAug. 2, 2011
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ADB warns of bumpy road into ‘Asian century’
TOKYO (AFP) ― Asia could be as wealthy as Europe by mid-century, but only if it tackles key challenges from inequality and corruption to climate change, an Asian Development Bank study said Tuesday.On current trends, Asia will make up half the world’s economic output by 2050, and another three billi
IndustryAug. 2, 2011
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U.S. deal would have little impact till 2014
Budget deal’s initial spending cuts too small to hurt economy in short runWASHINGTON (AP) ― The deal reached by Congress to raise the debt ceiling and cut more than $2 trillion in public spending should have only a minor impact on the economy for the next two years.Almost all the cuts would be made
IndustryAug. 2, 2011
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LivingSocial of U.S. to acquire TicketMonster
LivingSocial, the No. 2 social commerce provider in the U.S. after Groupon, has acquired South Korea’s biggest player Ticket Monster (TMon), underscoring the popularity of discount deals through social network services amid the dearth of mergers and acquisitions in other sectors. TMon said on Tuesda
TechnologyAug. 2, 2011
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Apple suit puts Samsung tablet on hold in Australia
Apple Inc. won an agreement from Samsung Electronics Co. that the South Korean company won’t sell the newest version of its tablet computer in Australia until a patent lawsuit in the country is resolved. The Samsung Galaxy Tab 10.1 infringes 10 Apple patents, including the “look and feel,” and touch
TechnologyAug. 2, 2011
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Foreign bank branches' H1 net halves
Foreign bank branches in South Korea saw their earnings almost halve in the first six months of this year from a year earlier due to losses from securities investments, the financial regulator said Tuesday.The combined net income of foreign banks' 37 local branches came to 538.5 billion won (US$512.
Aug. 2, 2011
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'Human brain cannot get smarter'
The human brain may have hit its limit because of a lack of energy and oxygen required for mankind to become any smarter, research indicates. The Daily Mail reported research by Cambridge University on the structure of brain and how much energy its cells consume. The neurobiologists said brain capac
TechnologyAug. 2, 2011
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S. Korea's large biz CEOs earn average 1.67 bln won in 2010
Chief executive officers (CEOs) working for South Korea's 100 largest businesses earned an average of just under 1.67 billion won (US$1.59 million) in 2010, a report showed Tuesday.According to Chaebol.com, their earnings include salaries, dividends and stock options, with top executives of Samsung
IndustryAug. 2, 2011
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S. Korea's foreign reserves hit new high in July
South Korea's foreign exchange reserves climbed to a fresh high in July as a stronger British pound and Japanese yen boosted the dollar conversion value, the central bank said Tuesday.The country's foreign reserves reached US$311.03 billion as of the end of July, up $6.55 billion from June, accordin
Aug. 2, 2011
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No credit impact on Korea's securities from floods: Moody's
Moody's Investors Service said Monday that the recent deadly floods and landslides in South Korea will have no credit-ratings impact on the country's residential mortgage-backed security (RMBS) and asset-backed security (ABS).Last week's downpour-caused floods and landslides in Seoul, nearby Gyeongg
Aug. 2, 2011
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Class action suit may cost Apple up to W27b
More than 27,800 Koreans have signed up to file a class action lawsuit against Apple Korea for breach of privacy to pave the way for a legal battle that may cost the company as much as 27 billion won ($25.5 million). Miraelaw law firm, which will be representing the plaintiffs, said the official fig
IndustryAug. 1, 2011
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Trade surplus widens to $7.2 billion in July
‘FTA effect’ may be felt in the second half of the year, customs agency saysSouth Korea’s trade surplus widened sharply in July from the previous month as exports grew at a faster pace than imports, the government said Monday.The country’s trade surplus reached $7.2 billion last month, compared with
Aug. 1, 2011
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SK E&S absorbs LNG affiliate
SK E&S Co., Korea’s top city gas provider, said on Monday it has absorbed and merged with K-Power, its power-generation affiliate, to boost their liquefied natural gas business. The merger took effect on Monday. Parent company SK Holdings, the country’s No. 3 conglomerate, now holds a 94.13-percent
IndustryAug. 1, 2011
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LG Display may try to increase capital
Despite its recent decision to drastically cut investment, LG Display, the world’s leading LCD-maker, will have a hard time fending off a paid-in-capital increase, according to industry sources.“Everything will weigh on how the company finishes the year, because at the end of the year, the chances a
IndustryAug. 1, 2011
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Doosan chairman emphasizes quality over quantity
Doosan Group chairman Park Yong-hyun on Monday said the company must focus on qualitative growth.In a message posted on the company’s intranet to mark its 115th anniversary, Park said that the company should now focus on qualitative growth and that it should continue trying harder despite its achiev
IndustryAug. 1, 2011
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Hana Financial, bank unit under tough probe
FSS says scrutiny includes banking unit’s lending to Lone StarThe Financial Supervisory Service is probing Hana Financial Group and Hana Bank over several key issues including their loans totaling 1.5 trillion won ($1.42 billion) to U.S.-based Lone Star Funds, officials said on Monday.The other issu
Aug. 1, 2011
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Hyundai-Kia, Ssangyong sales jump in July
Ssangyong Motor Co., South Korea’s smallest automaker, said Monday its sales surged 46.1 percent to a monthly high in July, fueled by strong exports and domestic demand.The company sold a record 10,763 vehicles last month, compared with 7,369 units a year earlier. Domestic sales rose 28 percent on-y
IndustryAug. 1, 2011
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Tax revenues hit record high last year
Tax revenues hit a record high last year as income and corporate taxes increased amid improving economic conditions, government data showed Monday. The National Tax Service said that it collected a total of 166.15 trillion won ($157.9 billion) last year, compared with 154.33 trillion won tallied a y
Aug. 1, 2011
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Consumer prices jump 4.7% in July amid inflation concerns
South Korea’s consumer prices jumped 4.7 percent in July from a year earlier, staying above the government’s target inflation rate of 4 percent for the seventh month in a row amid growing worries over its impact on the overall economy.The year-on-year figure in July marked a bigger jump than the 4.4
Aug. 1, 2011