Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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Legoland Korea Resort to open until 9 p.m.
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‘China faces 60% risk of bank crisis by 2013’
China faces a 60 percent risk of a banking crisis by mid-2013 in the aftermath of record lending and surging property prices, according to a Fitch Ratings gauge. Fitch sees the risk of “holes in bank balance sheets” should a property bubble burst, Richard Fox, a London-based senior director, said in a phone interview on March 4. The risk assessment is from a macro-prudential monitor used by the ra
IndustryMarch 8, 2011
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Volkswagen launches new Volkswagen CC in S. Korea
Volkswagen Korea, the local importer of German automaker Volkswagen, introduced the latest version of the Volkswagen CC sedan in South Korea Tuesday. The new Volkswagen CC is Volkswagen's second vehicle introduced in South Korea with the BlueMotion technology, which automatically shuts down the engine when the vehicle is idling and restarts it when the car is ready to move again, significantly i
MobilityMarch 8, 2011
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Seoul shares open higher on shipbuilders
South Korean stocks started higher on Tuesday as retail and institutional investors picked up shares of shipyards, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 4.13 points, or 0.21 percent, to 1,984.4 in the first 15 minutes of trading. The world's largest shipbuilder Hyundai Heavy Industries rose about 1.5 percent, helping the key index bounce back from a sharp
March 8, 2011
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Korea’s savings rate far below OECD average
Korea’s household savings rate stayed far below the average for major economies in the world, a report showed Monday, apparently indicating that the latest economic crisis resulted in a decline in income reserved for bank savings. According to the report by the Organization for Economic Cooperation and Development, Korea’s household savings rate ― the ratio of savings to total disposable income ―
March 7, 2011
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Trade group urges swift Korea-EU FTA approval
The head of Korea’s largest trade organization urged the country’s National Assembly Monday to quickly ratify the free trade agreement with the European Union.SaKong Il, chairman of the Korea International Trade Association, said the Korea-EU FTA is the key to boosting the country’s annual trade volume to over $1 trillion for the first time in its history. SaKong Il“The Korea-EU FTA is expected to
March 7, 2011
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Car output rise in February
Output of five automakers in Korea rose 6.4 percent on-year in February with strong demand at home and abroad also keeping their sales humming, an industry group said Monday.Led by industry leader Hyundai Motor Co. and its affiliate Kia Motors Corp., the automakers produced 297,350 vehicles last month, compared with 279,368 units a year earlier, according to the Korea Automobile Manufacturers Asso
IndustryMarch 7, 2011
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Asian economies in danger of ‘overheating’
Experts warn subsidy spree may store up trouble for the futureKUALA LUMPUR (AFP) ― As prices of food and fuel reach historic highs, Asian nations with a wary eye on Middle East uprisings are doling out subsidies that experts warn are storing up trouble for the future.Robust Asian economies largely escaped the global downturn, and are now in danger of overheating, stoked by low interest rates, dema
IndustryMarch 7, 2011
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NASA scientist claim of 'alien life' draws scrutiny
WASHINGTON, (AFP) - A NASA scientist's claim that he found tiny fossils of alien life in the remnants of a meteorite has stirred both excitement and skepticism, and is being closely reviewed by 100 experts.Richard Hoover's paper, along with pictures of the microscopic earthworm-like creatures, were published late Friday in the peer-reviewed Journal of Cosmology, which is available free online.Hoov
TechnologyMarch 7, 2011
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Social commerce giant Groupon to launch here
Groupon, a U.S.-based social commerce firm, announced Monday that it will launch here next Monday further fanning competition over the increasingly popular form of cyber-shopping.Ahead of its official launch, it said it would organize a pre-launching event through its website (www.groupon.kr) which offers 1,000 won of Groupon cash to its e-mail subscribers. The figure of subscribers, however, must
IndustryMarch 7, 2011
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FSS warns of credit card woes
Financial Supervisory Service Gov. Kim Jong-chang speaks during a meeting with chief executives of credit card companies on Monday. (Kim Myung-sub/The Korea Herald)The nation’s chief financial regulator on Monday expressed his strong resolve to tighten supervision of credit card issuers, warning their excessive competition could bring the industry to a new crisis. In his breakfast meeting with CE
March 7, 2011
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China’s focus on stability to create opportunities for Korea
China’s new drive for sustainable growth raised expectations of bigger opportunities for Korean exporters, with some advising more aggressive investment to target mainland consumers.Chinese Prime Minister Wen Jiabao on Saturday pledged to make the country’s growth more sustainable over the next five years with a lower GDP target of 7 percent, a sign Beijing intends to fight inflation and strengthe
March 7, 2011
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Korea ups rare earth reserve target
South Korea is to increase its rare earth reserves to around 1,500 tons by 2014 amid fierce global competition to ensure a stable supply.The new target for a group of 17 scarce metals key to mobile devices, electric vehicles and other high-tech products, would meet the local industrial demand for 100 days, the Ministry of Knowledge Economy said Monday.The government initially set the goal at 1,200
IndustryMarch 7, 2011
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Team to combat offshore tax evasion
Tax, customs and financial authorities plan to set up a joint task force to better crack down on offshore tax evasion, sources said Monday.The new body will be established within this year with officials from the National Tax Service, Financial Supervisory Service and Korea Financial Intelligence Unit, they said.The government is seeking to strengthen its fight against tax offenders as a way of in
March 7, 2011
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POSCO picked as most admired firm
The world’s fourth largest steelmaker POSCO ranked highest among South Korean firms in the latest world’s most admired companies list from the U.S. business magazine Fortune.The rankings are based on an analysis of 667 companies from 32 nations that reviewed nine categories including financial stability, innovation and human resource management. With a score of 7.21, POSCO received the highest rat
IndustryMarch 7, 2011
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Korea targets wider Asia bond sales to cut crisis risk
Korea is seeking to sell bonds to a broader range of investors, especially within Asia, to limit the risk of large, swift investment outflows triggering a crisis, a finance ministry official said.“We would like to broaden our bond buyers overseas so that we can avoid a financial crisis caused by the sudden flight by a few,” Woo Hae-young, director of the Government Bond Policy Division at the Mini
March 7, 2011
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Former IBK CEO Yun to head KEB
Hana group nominates veteran financier ahead of acquisitionHana Financial Group chose Yun Yong-ro, former CEO of Industrial Bank of Korea, as president & CEO of Korea Exchange Bank, company officials said Monday.The nation’s fourth-largest financial group is poised to take over KEB and its executive recommendation committee proposed to the group’s board members that Yun head the new banking unit.T
March 7, 2011
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Korea seeks LED, vertical farming synergy
Korea has been bolstering the vertical farming industry since 2009 as a future growth engine and a measure to stabilize food supplies. The country is a latecomer to the scene but is pinning high hopes on its advanced technologies in electronics and communications to help it emerge as a competitive player in the field.The concept of integrating agriculture into a built environment was invented in a
TechnologyMarch 7, 2011
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Hyundai Heavy develops robot for joint surgery
Hyundai Heavy Industries and local venture firms have succeeded in localizing high-tech robotic equipment for artificial joint operations, the company said Monday.The country’s top builder developed bodies and controllers for the “Robodoc” in a joint project promoted by the Ministry of Knowledge Economy in July 2009.Made by local robotics venture Curexo Inc., the Robodoc is the only robotic system
IndustryMarch 7, 2011
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Toyota said to focus on emerging market growth plan
Toyota Motor Corp. which traditionally gets a majority of its profit in the U.S., will outline a strategy for growth in emerging markets in a 10-year plan the Japanese automaker is set to release this week, two people familiar with the plan said. Toyota also plans to cut two vice-chairman positions and shrink its board to 17 or fewer members as part of the biggest management shakeup in eight years
IndustryMarch 7, 2011
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Technology breathes new life into farming
Cities produce crops as Korea looks for green ways to boost food outputA farm in Yongin on the outskirts of Seoul is ripe with salad greens. But rows of lollo and romaine lettuces are not sprouting from the earth. The plants are thriving on plastic shelves inside a seven-story office building.The “vertical farm,” run by Insung Tech, cultivates indoor crops by artificially supplying air, water, lig
TechnologyMarch 7, 2011