Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Household loan growth quickened in February
The growth of household loans extended by South Korean financial firms accelerated in February from the previous month on the back of gains in home-backed lending, the central bank said Friday.Household lending handled by local banks and non-bank institutions totaled an outstanding 599.2 trillion won ($551.3 billion) as of the end of February, up 3.2 trillion won from the previous month, according
April 15, 2011
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Burger King introduces the 1,160 calorie ‘Meat Monster’ burger
(Burger King)The race to offer high calorie, gut-busting burgers continues as Burger King introduces the 1,160-calorie ‘Meat Monster’ burger in Japan, Daily Mail reported. The burger consists of two hamburgers, a chicken breast fillet, two slices of processed cheese and three slices of bacon. If the original combination isn’t enough diners can add teriyaki sauce, an egg patty and even a fish patty
April 15, 2011
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Subpanel votes down Korea-EU FTA ratification bill
South Korea's parliament subcommittee on Friday voted down the nation's free trade pact with the European Union, frustrating the ruling Grand National Party, which had hoped to get the bill through this month in order to ratify it by July as agreed upon by the two sides. After a government briefing on protective measures for local industries, the six-member legislation subcommittee of the Assembly's foreign affairs and trade committee put the trade bill to a standing vote, officials said.But th
April 15, 2011
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Korea to provide W6.5tr support for key sectors
Seoul unveils plans to foster green, high-tech industriesThe government on Thursday pledged to provide 6.5 trillion won ($5.98 billion) this year in financial support for developing new growth engine businesses. Finance, economy and industry affairs ministries reported the plan to President Lee Myung-bak. “The government will boost financial support tailored to new growth engine sectors which tend
April 14, 2011
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Korea eyes Africa as new export market
Korea is seeking to boost its business presence in Africa by establishing three new business centers to support Korean businesses and African importers there, a state-run trade agency said Wednesday.The Korea Trade-Investment Promotion Agency said it had opened one of the new Korea Business Centers in the Ethiopian capital of Addis Ababa on Tuesday.The agency is also set to open a KBC in Accra, th
April 13, 2011
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Hyundai Motor sets up research center in Beijing
HONG KONG (Yonhap News) ― Hyundai Motor Co., Korea’s No. 1 auto maker, has established a research center in Beijing in an effort to expand its business in China, company officials said Wednesday.The recent launch of the “Hyundai Motor Research Institute for the China Management” comes after China replaced Korea as the largest market for Hyundai Motor last year. The Korean company sold 700,000 cars
April 13, 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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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
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Finance minister to attend G20 meeting
Korea’s Finance Minister Yoon Jeung-hyun will leave for the United States this week to attend a Group of 20 (G20) meeting, which will focus on pending global economic and financial issues, officials said Tuesday.The G20 finance ministers’ meeting will kick off in Washington on Thursday for a two-day run, according to the Ministry of Strategy and Finance. Yoon will leave for the meeting on Wednesda
April 12, 2011
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Public firms’ debts surge W34tr in 2010
Debts owed by Korea’s public corporations surged by 34.2 trillion won ($31.6 billion) in 2010 mainly due to outlays in large development projects, the government said Monday.The finance ministry said the combined debt of 27 leading public corporations rose 14.4 percent on-year to 271.9 trillion won last year, with their debt-to-equity ratio hitting 157 percent, up from 144 percent in 2009.Their de
April 11, 2011
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Korea, Indonesia to discuss economic ties
Korea and Indonesia will hold a working-level meeting next month on ways to further boost bilateral economic cooperation, Seoul’s finance ministry said Monday.The meeting is a follow-up on a December summit between Korean President Lee Myung-bak and Indonesian President Susilo Bambang Yudhoyono, in which they agreed to boost bilateral cooperation on weaponry development, energy, infrastructure and
April 11, 2011
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Korea, China trade ministers discuss FTA
Korea Trade Minister Kim Jong-hoon discussed the stalled free trade negotiations with his Chinese counterpart Chen Deming during their meeting in Beijing on Monday, the Ministry of Foreign Affairs and Trade said. The meeting raised expectations for the two governments to put their FTA negotiations on a fast track. Seoul and Beijing began preliminary government-level talks in September but made lit
April 11, 2011
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SK Telecom taps into China mobile game market
SK Telecom joined hands with China’s No. 1 wireless carrier to tap into one of the world’s fastest growing mobile game markets.ST Telecom and China Mobile’s game business unit signed a memorandum of understanding on Friday in China for cooperation in content, platform and networking technologies.China’s mobile game market has grown 100 percent annually for the past three years with the number of u
April 10, 2011
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Seoul stocks expected to see moderate gains
Korean stocks will continue to rise this week but the gains will likely be limited by rising oil prices and other economic woes stemming from Japan’s earthquake and continuing war in Libya, analysts said.The benchmark KOSPI ended last week at 2,127.97, up 6.96 points or 0.32 percent from a week earlier, extending its rally of weekly gains to a fourth consecutive week.The total market cap also reac
April 10, 2011
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China FTA to boost Korea’s economy by nearly 3%: SERI
A free trade deal with China would help Korea expand its gross domestic product by nearly 3 percent, a think tank said Sunday, citing more exports to the fast-growing market through lowered trade barriers.According to a report by the Samsung Economic Research Institute, Korea’s GDP is expected to grow 2.72 percent more if Seoul and Beijing complete a free trade agreement intended to cut or remove
April 10, 2011
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Quake’s harm to Korean economy limited
Steelmakers, oil refiners benefit from damaged production in JapanThe March 11 earthquake and tsunami in Japan is seen as having a limited, short-term impact on the Korean economy despite having disrupted parts supplies for automobile and electronics makers, experts said Sunday. In fact, some sectors including steel and oil refining are benefiting from the damaged production in the neighboring cou
April 10, 2011
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Seven out of 10 workers regret changing jobs
(MCT)Seven out of 10 people who have changed their jobs regret their decision, research showed Friday.Job site Saramin (http://saramin.co.kr) said that 67 percent of respondents were not satisified with their new jobs in a survey conducted on 1,409 Koreans who have sought new opportunities in different companies.In the survey, 34.3 percent of those answered said they regret their decision because
April 10, 2011
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[News focus] Seoul faced with calls to slash oil taxes
Government twists refiners’ arms but under fire for failing to share responsibilityThe heat is increasingly being turned on the government for failing to curb the soaring gas prices, especially as critics are pounding Seoul for failing to address a more direct cause of the price increase ― the high taxes slapped onto gas. Instead, the government has turned to twisting the arms of local refiners to
April 8, 2011