Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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LG to help nurture bilingual specialists
LG Group said Monday that it would provide bilingual education to 400 children from multicultural backgrounds.In a joint effort with Hankuk University of Foreign Studies, the country’s fourth-largest conglomerate said that it would offer online bilingual education programs to 300 Chinese and 100 Vietnamese elementary school students this year.The group supported about 70 children from multicultura
IndustryFeb. 14, 2011
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Hanjin Heavy to close over labor dispute
Shares in Hanjin Heavy Industries & Construction tumbled on Monday after the Korean shipbuilder said it decided to shut down three operations in Korea due to labor strife. Hanjin said in a statement that it had submitted reports to local governments that it would close one shipyard and two plants, saying ongoing strike activity since 2009 had hampered its production.Hanjin, the only unprofitable s
IndustryFeb. 14, 2011
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Korea’s foreign sell-off heaviest in Asia
Overseas investors sell stock in response to inflation fears but not thought as part of long-term trendForeign investors pulled out the biggest amount of capital from Seoul stocks in Asia this month, reversing earlier snap ups on inflation fears.The selling spree was part of a regional outflow as investors fled to rebounding advanced economies, away from continued monetary tightening in emerging e
Feb. 14, 2011
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Global telecoms closer to offering open mobile app platform
Major telecoms, including Korea’s KT Corp. and SK Telecom, have moved a step closer to commercializing an open mobile applications platform established by a multinational alliance of telecoms and device manufacturers.At the global mobile industry show which launched in Barcelona Monday, local mobile carriers KT and SKT demonstrated some of their to-be-commercialized applications that follow the gl
IndustryFeb. 14, 2011
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Kolon to merge with subsidiary
Kolon Industries Co., a Korean textile maker, plans to buy the shares in subsidiary Cambridge Kolon Co. on the market that it doesn’t own.Cambridge Kolon owners will get 782,580 shares of the merged company, or 0.16 share for every one of the existing securities, on May 16, Kolon said in a regulatory filing on Monday. (Bloomberg)
IndustryFeb. 14, 2011
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China profits from solar-power plan
China, the world’s biggest electricity consumer, is figuring out how to capture a larger share of the solar-energy market without losing money. The government will spend at least a year studying Europe’s system of paying above-market prices for solar power before deciding if there’s a better way to spur clean-energy plants across China, said Wu Dacheng, an adviser to national power regulators. The
IndustryFeb. 14, 2011
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Pre-launch orders for Hyundai Veloster
Hyundai Motor Co. will begin receiving pre-launch orders for the Veloster from Monday. The vehicle will be launched on the local market later this month. The vehicle, which the company has termed PUV (premium unique vehicle) has three doors ― one on the driver’s side and two on the passenger side ― and comes with a 1.6-liter gasoline direct injection engine that puts out 140 brake horsepower.The c
MobilityFeb. 13, 2011
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Samsung unveils upgraded Galaxy S, Galaxy Tab
Samsung Electronics unveiled the upgraded versions of its flagship smartphone Galaxy S and its tablet PC Galaxy Tab in an event one day before the launch of the global mobile industry show in Barcelona on Sunday.In an event called the “Samsung Mobile Unpack,” the world’s second-largest handset maker presented Galaxy S 2 and Galaxy Tab 10.1, while designating 2011 as the year of smart mobile device
IndustryFeb. 13, 2011
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Milk shortage from FMD affecting local industries
A nationwide milk shortage caused by the severest foot-and-mouth disease outbreak in Korea’s history is affecting local confectionery and dairy industries, corporate sources said Sunday.Sources from Seoul Milk, Namyang Dairy Product Co. and the Korea Bakers Association said that as of December, the reserves of powdered skim milk stood at just 938 tons or a 77.3 percent drop from 4,137 tons reporte
IndustryFeb. 13, 2011
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Underground economy shrinks to 17% of GDP
The size of the so-called underground economy in Korea has been shrinking steadily since the early 1990s due to increased transparency of financial transactions, a report showed.According to the report by the Korea Institute of Public Finance, the size of the untaxed portion of the Korean economy was estimated at 17.1 percent of the gross domestic product in 2008, lower than 28.7 percent in the 19
Feb. 13, 2011
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Larger, faster, smarter devices to steal show
BARCELONA, Spain (Yonhap News) ― Larger, faster and smarter smartphones and tablets are expected to steal the show this week at the wireless industry’s biggest trade show in Spain, signaling a new round of competition among vendors in the sector’s fastest growing and the most vibrant segments. Among the mobile devices and wireless technologies that will be on display by some 1,360 companies at thi
TechnologyFeb. 13, 2011
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Greece blasts demand on asset sale
Athens slams debt inspectors after IMF and EU visit, accusing them of overstepping rolesATHENS (AP) ― An indignant Greece slammed EU and International Monetary Fund inspectors overseeing its efforts to reform its debt-crippled economy, accusing them Saturday of overstepping their role and interfering in Greece’s internal affairs.In an unusually harshly worded, pre-dawn statement, government spokes
Feb. 13, 2011
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Household debt rises in 2010
Korea’s household debt, a major economic risk factor, rose sharply last year, raising concerns about an increase in defaults, a private credit appraiser reported Sunday.At the end of December, financial institutions had 722.8 trillion won ($642 billion) in outstanding loans to the household sector, up 6.9 percent from a year earlier, according to the Korea Credit Bureau.Of the total, unsecured hou
Feb. 13, 2011
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Hyundai Motor recruits ...overseas talent
Hyundai Motor Group’s overseas recruitment drive will begin Monday, the company announced Sunday. The group’s three main automotive businesses ― Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. ― will receive applications from overseas-educated individuals with master’s or Ph.D. degrees with two or more years of work experience.The selection process will be conducted from Feb. 14 through
MobilityFeb. 13, 2011
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Local firms to show 4G tech at Barcelona
Local firms are moving quickly to present their fourth-generation mobile communication network technology Long Term Evolution at the global mobile industry show in Barcelona this week.Samsung Electronics and KT Corp. announced on Sunday that they will cooperate with global chipmaker Intel to test the new LTE technology at the 2011 Mobile World Congress from Feb. 14-17.The next generation mobile co
TechnologyFeb. 13, 2011
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BOK may raise rates in March over price pressures
The Bank of Korea may raise borrowing costs again as early as March to counter inflation pressures after unexpectedly leaving policy unchanged Friday. Governor Kim Choong-soo and his officials held the seven- day repurchase rate at 2.75 percent in a split decision, after economists had forecast a quarter-point increase. Goldman Sachs Group Inc. and HSBC Holdings Plc say the next move will be next
Feb. 13, 2011
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Foreigners turn net sellers of local shares
After spearheading last year’s bull run of the Korean market, foreigners have shifted to big net sellers of local shares this year due to concern over global inflation and other negative factors, industry sources said Sunday.As of Friday, foreign investors sold a net 2.06 trillion won ($1.83 billion) worth of Korean stocks, according to the Korea Financial Investment Association and Hana Daetoo Se
Feb. 13, 2011
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Baby Audi SUV to debut at Frankfurt
INGOLSTADT, Germany (DPA) ― Audi’s new baby sports utility vehicle, the Q3, is expected to debut at the Frankfurt Motor Show in September, adding spice to the small compact SUV sector in competing against the BMW X1 and the upcoming Mercedes BLK.Spy shots reveal design details from the A1 and Q5 with the technical platform coming from the VW Golf and VW Tiguan.The engine range is also likely to co
MobilityFeb. 13, 2011
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GM Daewoo receives orders for Orlando
GM Daewoo Auto and Technology Co. announced Sunday that it will receive orders for the Chevrolet Orlando minivan from Monday. Unveiled on Feb. 9, the vehicle is scheduled for launch on March. 2.The vehicle, which has been dubbed Active Life Vehicle by the company, is the first of the eight Chevrolet models the company will launch here this year. OrlandoThe car comes with a 2-liter turbocharged die
MobilityFeb. 13, 2011
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Hyundai tops U.S. customer loyalty survey
Hyundai Motor Co. announced Wednesday that it was ranked top among carmakers in a U.S. survey for customer loyalty for the second consecutive year in a survey conducted by the market research firm Brand Keys Inc.According to the carmaker, Brand Keys survey results carry significant weighting with U.S. consumers and can contribute to retaining and expanding the customer base. In addition, Hyundai a
MobilityFeb. 13, 2011