Most Popular
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korean language teaching expert says demand has outstripped supply
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Conscripting women to lead to 'more babies,' claims military think tank
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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Taking away phones during school hours not a human rights violation: watchdog
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Korea launches antidumping probe into Chinese steel
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[Grace Kao] Why K-pop lip-syncing doesn’t bother me
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Hyundai begins work on 3rd blast furnace
Hyundai Motor Group’s steelmaker Hyundai Steel broke ground for the third blast furnace at its integrated steelworks in Dangjin, South Chungcheong Province on Tuesday.The company is injecting 3.26 trillion won ($2.89 billion) into the project, which is scheduled for completion in September 2013.The furnace will have an annual production capacity of 4 million metric tons, pushing the facility’s out
IndustryApril 12, 2011
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Hacked data probe may spread to Hyundai Card
The recent hacking at Hyundai Capital raises the possibility that customer information at Hyundai Card could also have been stolen or be vulnerable to intrusion.Hyundai Capital recently suffered a cyber attack in which personal information of about 420,000 customers and passwords of 13,000 have been hacked.While the automobile loan-oriented firm has been under an intensive probe from the FSS, regu
April 12, 2011
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BOK holds rates, but hike seen in Q2
April 12, 2011
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Korean economy to suffer big from oil price surge
Korea is likely to see its economic growth rate fall more than 2 percentage points if international oil prices top the $200 level, a report showed Tuesday.The report comes amid worries that the shortfall of oil production in Libya and continued unrest in the region may send crude prices even higher and dent the growth of economies around the world. According to the report by Britain-based Standard
April 12, 2011
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First Korean 3-D animation to be released in Canada
Korea’s first 3-D animation movie “Bolts & Blip” will be released on DVD in Canada later this year, its producer Redrover said.The company signed a copyright deal with Canadian home entertainment group Nelvana last week at MIPTV 2011, the world’s largest entertainment content market in Cannes, France. Set on the moon in 2080, the comedy follows the adventures of two misfit robots, Bolts and Blip.I
IndustryApril 12, 2011
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‘Asia faces destabilizing capital inflows’
Credit Suisse regional chief says inflationary pressure won’t continueInflationary pressure from soaring food prices is not likely to continue in Asia but a new round of capital inflows from May could destabilize regional economies, said Osama Abbasi, CEO of Credit Suisse Asia-Pacific.“It is in our view that food price is pretty much capped out. Further acceleration of food price is unlikely,” Abb
April 12, 2011
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Apple to stay ahead in tablet boom: Gartner
IndustryApril 12, 2011
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Mobile advertising rises with smartphone use
Details of mobile advertising are unveiling as the number of smartphone owners has surpassed the 10 million mark and is expected to reach 20 million by the end of this year.Google Korea is currently considered a leader in mobile advertising business, moving ahead with its global platform, followed by the country’s telecoms ― SK Telecom, LG Uplus and KT ― which all declared to play a role in the ma
TechnologyApril 12, 2011
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Cyworld back in the game with robust profit
Korea’s SNS pioneer plans to regain lost glory with mobile apps, acornsCyworld, in many ways a Korean pioneer in social networking services, is back with a vengeance this year on the back of robust “acorn” sales and closer collaboration with up-and-coming technology. Acorn ― “dotori” in Korean ― is the unit of virtual money that Cyworld users spend on all sorts of items for decorating and personal
IndustryApril 12, 2011
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U.S. fast-food chains bet on India to drive growth
IndustryApril 12, 2011
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Toyota: Summer car shortage possible
IndustryApril 12, 2011
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Fed to stick with low rates, despite oil rise
IndustryApril 12, 2011
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Koreans’ overseas spending hits record high
Koreans’ overseas spending exceeded a record high 20 trillion won ($18.4 billion) in 2010, as more travelers and students abroad took advantage of the strong won, the Bank of Korea said Monday.The country’s nominal overseas spending reached 20.3 trillion won last year, up 15.4 percent from 2009. It is the highest level of annual spending from overseas since 1970 when officials began collecting dat
April 12, 2011
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Criminal probe set for stock trading of Deutsche Bank
Regulator suspends parts of brokerage unit’s operationsFinancial regulators on Wednesday requested that the prosecution investigate Deutsche Bank AG and its staffers for allegedly manipulating stock prices last November.In addition, they suspended some operations of Deutsche Securities Korea, a brokerage unit of the Germany-based investment bank. The securities firm is banned from selling a certai
April 12, 2011
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[Meet the CEO] Nespresso shapes Korean espresso culture
Nespresso is confident that booming enthusiasm for coffee among Koreans and the surging popularity of homemade espressos will continue to shore up its brisk sales growth in the market, the chief of Korean operations said.Since the coffee business unit of Swiss food giant Nestle launched its single-serve “coffee capsules” in December 2007, it has led the local portion coffee market which has been e
IndustryApril 12, 2011
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Kakao Talk looks to overseas expansion
Popular mobile messenger service breaks threshold of 10 million downloadsKakao, a venture firm that invented the popular mobile messenger app Kakao Talk last year, announced Monday that it will branch out to overseas markets this year with the aim of garnering 100 million downloads.In a press conference celebrating more than 10 million registered Kakao Talk users, its founder Kim Beom-su said the
IndustryApril 12, 2011
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BOK freezes key rate at 3 pct for April
BOK freezes key rate at 3 pct for AprilSouth Korea's central bank froze the key interest rate on Tuesday, a sign that it needs more time to assess the impact of a rate hike in March amid lingering economic uncertainties like the fallout from Japan's quake. Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers froze the benchmark seven-day repo rate, dubbed the base rate, at 3 perce
April 12, 2011
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Builders’ domestic orders tumble in Feb.
Domestic orders of Korean builders plunged 17 percent in February from a year earlier due to a prolonged slump in the local property market and a drop in orders from the public sector, a trade association said Monday. The local builders’ domestic orders came to 5.09 trillion won ($4.69 billion) in February, compared with 6.15 trillion won tallied a year earlier, the Construction Association of Kor
IndustryApril 12, 2011
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Quarantine checks on farm imports increase
Korea’s quarantine inspections of imported farm produce rose 10 percent on-year in the first quarter mainly due to greater local demand for vegetables and fruits, the government said Tuesday.The Ministry for Food, Agriculture, Forestry and Fisheries said import inspections were carried out on 43,793 shipments in the January-March period, compared to 39,746 during the same period a year earlier.“Un
April 12, 2011
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POSCO operating income forecast to fall
Korea’s leading steelmaker POSCO is expected to report an operating income of less than 1 trillion won ($917 million) for the January-March period due to a price freeze amid soaring raw materials costs, analysts said Tuesday.POSCO, the world’s third-largest steelmaker, is set to report its first-quarter earnings next Friday. The steelmaker has been reporting a quarterly operating profit of more th
April 12, 2011