Most Popular
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Ador CEO's dismissal to be decided on last day of May
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[Graphic News] Beer the most favored alcoholic drink by Koreans
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Science Ministry expresses regret over Japan’s pressure on Naver
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Haeundae Beach to become sand art museum in late May
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Hostilities get out of hand as YouTuber murders another outside courthouse
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Medical professors set to take day off amid protracted walkouts by junior doctors
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Police officer jumps barefoot into drainage tunnel to save man
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Lee Sun-kyun's posthumuous film to hit theaters in August
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State-led adoption system to be established to ensure adoptees' well-being, minimize overseas adoption
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S. Korea's Iranian oil imports nearly halve in May
South Korea's imports of Iranian oil fell nearly half in May from the previous month as local refiners moved to switch their suppliers in the face of international sanctions against Tehran, industry data showed Sunday.South Korea imported 3.96 million barrels of Iranian crude in May, down 47.3 percent from 7.52 million barrels in April, according to the data compiled by the Korea National Oil Corp
July 1, 2012
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Seoul shares rally 1.91 percent on EU summit progress
South Korean stocks rallied 1.91 percent on Friday as European leaders reportedly decided to ease bailout rules for debt-ridden governments, analysts said. The local currency gathered ground against the U.S. dollar.The Korea Composite Stock Price Index (KOSPI) climbed 34.83 points to finish at 1,854.01. Trading volume was moderate at 309.8 million shares worth 4.29 trillion won (US$3.73 billion) w
June 29, 2012
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Seoul shares open lower on EU summit concern
South Korean stocks got off to a weak start Friday as investors avoided risky bets pending the outcome of a European summit aimed at addressing the region's fiscal crisis, analysts said.The Korea Composite Stock Price Index (KOSPI) lost 9.37 points, or 0.52 percent, to 1,809.81 in the first 15 minutes of trading.Tech blue-chips and chemical issues led the decline, with market bellwether Samsung El
June 29, 2012
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S. Korea's industrial output grows 2.6 pct on-year in May
South Korea's industrial output grew in May from a year earlier despite persistent eurozone debt problems and market uncertainties, a government report showed Friday.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 2.6 percent last month from a year earlier. In April, the output remained unchanged from the same month in 2011.Industrial pro
June 29, 2012
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Korea-EU FTA effect limited by eurozone crisis
Since it took effect one year ago, FTA helps attract foreign investment, but product price cuts imperceptibleThe effect of the free trade agreement between Korea and the European Union has been meager in its first year as the eurozone fiscal crisis dampened the region’s demand for imports. The FTA, however, appears to have helped attract foreign investment to Korea.Korea’s exports to the EU since the FTA took effect in July 1 last year through June 15 dropped 12.1 percent from the year before la
June 28, 2012
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EU FTA has silver lining for big firms
One year has passed since the much-lauded Korea-EU Free Trade Agreement went into effect on July 1 last year.However, high expectations that the tariff-cutting pact would give Korea’s exporters a boost into the European market have been lowered over the year as the sovereign debt crisis in the eurozone continues to weaken the region’s overall demand, said an economist.While 13.8 percent of Korea’s exports were sent to the EU in 2008, that share actually slid to 9.4 percent this year amid the eur
June 28, 2012
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Chinese vice premier vows support for Hyundai Motor operations
Chinese Vice Premier Wang Qishan promised to provide support to Hyundai Motor when he met with group chairman Chung Mong-koo on Thursday, company officials said. The Chinese leader had a meeting with chairman Chung at the Hyundai Pavilion at the Expo 2012 Yeosu. The Chinese official visited the Expo site to celebrate the Chinese national day, 48 days after the exposition opened.“As this year marks the 20th anniversary of the diplomatic relations between China and Korea, we expect Hyundai Motor G
June 28, 2012
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The subtle art of brand management
When we examine the original meaning behind the term “brand,” it often refers to a company’s collective efforts in distinguishing a new product from its competitors, via methods such as naming, symbolism and design. But its use nowadays is not limited solely to the business world. Rather, it’s become a catchphrase, used in all walks of society. A local university in Seoul, for example, has adopted a motto which roughly translates to, “A factory where I can develop my brand.” The term is used dur
June 28, 2012
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Singapore Airlines: Innovation trendsetter
Winning the most airline industry awards worldwide, Singapore Airlines’ reputation as the industry trendsetter and innovative market leader is built on firm ground. Besides global master chefs’ selection of gourmet in-flight meals, the company offers business applications, enabling passengers to do office work on board ― even without a laptop ― by accessing files from a USB flash drive and using a remote control equipped with a QWERTY keyboard.Singapore Airlines boasts high efficiency and safety
June 28, 2012
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Seoul shares end almost flat despite upbeat U.S. data
South Korean stocks closed almost unchanged Thursday as nagging eurozone concerns offset improved U.S. economic data, analysts said. The local currency rose against the U.S. dollar.The Korea Composite Stock Price Index (KOSPI) gained 1.53 points, or 0.08 percent, to finish at 1,819.18. Trading volume was light at 305 million shares worth 3.10 trillion won (US$2.68 billion) with losers just outpaci
June 28, 2012
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Seoul shares open higher on upbeat U.S. data
South Korean stocks got off to a strong start Thursday, tracking overnight gains in U.S. markets buoyed by improved economic data, analysts said.The Korea Composite Stock Price Index (KOSPI) rose 3.46 points, or 0.19 percent to 1,821.11 in the first 15 minutes of trading.Shares gathered ground across the board, with memory chipmaker SK hynix and leading carmaker Hyundai Motor rising nearly 1 perce
June 28, 2012
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S. Korea's current account surplus hits 6-month high in May
South Korea's current account surplus hit a six-month high in May due mainly to a fall in dividend payouts to foreign investors, the central bank said Thursday.The current account surplus reached $3.61 billion in May, up from a revised $1.73 billion the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.The May data marked the la
June 28, 2012
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Seoul shares inch down on lingering eurozone woes
South Korean stocks closed marginally lower Wednesday as lingering concerns over the eurozone debt crisis kept investors reluctant to make risky bets, analysts said. The local currency rose against the U.S. dollar.The Korea Composite Stock Price Index (KOSPI) edged down 0.15 points, or 0.01 percent, to finish at 1,817.66. Trading volume was moderate at 315.3 million shares worth 4.26 trillion won
June 27, 2012
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Seoul shares open lower on Spain woes
South Korean stocks got off to a weak start Wednesday, as low demand on Spanish bonds last night sapped hopes for a smooth bailout of the debt-mired region, analysts said.The Korea Composite Stock Price Index (KOSPI) slipped 14.31 points, or 0.79 percent to 1,803.50 in the first 15 minutes of trading.Shares fell across the board, with market behemoth Samsung Electronics dipping 0.53 percent.The lo
June 27, 2012
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Iran warns of possible embargo on S. Korean imports
Iran may halt all South Korean imports in protest against Seoul's decision to ban Iranian oil following European Union sanctions against the Middle East nation, Iran's top envoy here warned Wednesday.Iranian Ambassador Ahmad Masumifar said in an interview with Yonhap News Agency that his country "may decide to fully stop importing Korean goods" if Seoul imposes the import ban on Iranian oil.He als
June 27, 2012
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EU sanctions on Iran raise fears over oil supply
The European Union decided to impose the embargo on Iranian crude oil starting this Sunday as planned, signaling setbacks in crude supply to Korea and a rise in petroleum product prices. The EU said in a statement on Monday after a meeting of the foreign ministers of the 27 member countries that all contracts for importing Iranian oil will have to be terminated from July 1. European companies will also be prohibited from insuring shipping companies that transport Iranian oil as part of the sanct
June 26, 2012
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Unionized construction workers to go on strike
Unionized construction workers will go on strike Wednesday to demand a better guarantee of labor rights, including due payment of wages, the nationwide union of construction workers said.About 29,000 union members as well as non-members are expected to take part in the indefinite strike, with a massive rally in Seoul planned for Thursday, the union said.The planned walkout comes after unionized truckers launched a separate strike Monday to demand higher trucking fees and a cut in fuel costs, amo
June 26, 2012
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LGE’s Spain unit chief to head Hermes Korea
Hermes Korea has appointed the current head of LG Electronics’ Spanish division, Han Sung-hun, to fill the company’s vacant CEO post. The 51-year-old Han will assume his new duties as managing director of the French luxury brand’s Korean division on July 1. Han started his career at the multinational consumer company Proctor & Gamble, and has also worked at the Coca-Cola Co., and NHN Corp. He later made a career move to LG Electronics, entering the company as a brand communication team leader in
June 26, 2012
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FTA to boost Korea’s auto exports to Colombia
The bilateral free trade agreement with Colombia is expected to boost Korea’s exports of autos, auto parts and petrochemicals to the South American country.The trade pact with the third-largest market in Latin America, which has inked FTAs with nine countries and is in talks for four more, will also help Korean companies expand business to other nations in the region, the Seoul government said. Korea and Colombia announced Monday during President Lee Myung-bak’s visit to Bogota that they have co
June 26, 2012
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Business sentiment drops sharply on eurozone worries
South Korea’s business sentiment for July fell sharply from a month earlier due to persistent eurozone concerns and a slowdown in global economic growth, a poll showed Tuesday.The monthly business survey index for the upcoming month came in at 89.7, down from 98.3 tallied for June, according to the poll by the Federation of Korean Industries, the lobbying group of the country’s large businesses.The drop also marks the lowest BSI reading this year since 91 tallied for February.A BSI reading below
June 26, 2012