Most Popular
-
1
Over 80,000 millionaires, 20 billionaires in Seoul: report
-
2
Korean battery makers heave sigh of relief over 2-year IRA reprieve
-
3
Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
-
4
Young Korean doctors seek plan B: cosmetic dermatology or overseas
-
5
South Korea open to Indonesian proposal to cut KF-21 payments
-
6
Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
-
7
Coupang earnings hit hard by losses from ailing Farfetch
-
8
[K-pop’s dilemma] Time, profit pressures work against originality
-
9
Why femicide and dating violence are growing issues in S. Korea
-
10
Arrest warrant issued for medical student for allegedly killing girlfriend after breakup
-
Asiana cargo flight crashes off Jeju coast
An Asiana Airlines cargo flight bound for Shanghai Pudong International Airport crashed off the coast of Jeju early Thursday while diverting to the island due to a fire in the cargo hold.“The cargo plane said in its last communication with the control center in Shanghai that there was a fire in the cargo hold,” Kim Han-young, Director General of Ministry of Land, Transport and Maritime Affairs’ Of
July 28, 2011
-
Samsung Electronics under tax probe
National Tax Service launches regular investigation on Samsung flagshipSamsung Electronics, which had been putting off a regular tax investigation for almost half a year, is now in the midst of the probe launched by the local tax authorities. About 30 officials of the National Tax Service were dispatched to Samsung Group’s flagship unit earlier this week, according to government and industry sourc
July 28, 2011
-
LG Innotek sues Osram in Chinese court
LG Innotek on Thursday said it has filed a lawsuit against Osram’s Chinese corporation and another company called Hella for infringing patent rights for light-emitting diode technology.LG Innotek filed the suit at a court in Beijing, demanding Osram cease selling its LED products and also seeking compensation for damages.Osram is a light-manufacturing unit of Siemens AG, while Hella is a global ma
July 28, 2011
-
Chaebol slow to promote reform of ownership
Heads of family-run conglomerates continue to control empires with little stakesOwners of Korea’s leading family-run conglomerates, or chaebol, are still opting to employ circular intra-group shareholding practices to run a large number of affiliates with little or no stake ownership, the state-run antitrust regulator said Thursday.According to the Fair Trade Commission, each chairperson of the c
July 28, 2011
-
Equus tops U.S. customer satisfaction ratings
South Korea’s top automaker Hyundai Motor Co. said Thursday that its large passenger car Equus has received the highest marks in a U.S. customer satisfaction survey, outshining BMW, Audi and Mercedes-Benz.The luxury sedan received 904 points out of a maximum 1,000 in the Associates Automotive Performance Execution and Layout survey by J.D. Power and Associates on new car owners from February throu
July 28, 2011
-
SK China enters car rental business
HONG KONG (Yonhap News) ― The Chinese subsidiary of South Korean conglomerate SK Group said Thursday it has entered the car rental business in a bid to tap into the world’s most populous country.SK China Co. said it started renting automobiles this month in nine cities, including Beijing, Hangzhou and Shenyang.It currently has 1,200 vehicles, including sedans and sport utility vehicles manufacture
July 28, 2011
-
Lotte Chilsung absorbs liquor affiliate
South Korea’s top soft drink maker Lotte Chilsung Beverage Co. said Thursday that it decided to absorb and merge with Lotte Liquor BG Co., its alcoholic beverage affiliate, to boost shareholder value.Lotte Chilsung said the merger will take effect on Oct. 1, and the merger ratio will be 1:0. Lotte Chilsung holds a 100 percent stake in Lotte Liquor.“The merger is aimed at maximizing shareholder val
July 28, 2011
-
Daewoo Shipbuilding Q2 net slips 3.6 pct
Daewoo Shipbuilding & Marine Engineering Co. said Thursday that its second-quarter earnings fell 3.6 percent from a year earlier as it filled more orders for low-priced ships that were won following the global economic downturn.Net income reached 170 billion won ($162 million) in the April-June period, compared with a profit of 177 billion won a year earlier, the company said in a regulatory filin
July 28, 2011
-
S-Oil Q2 net profit more than quadruples
S-Oil Corp. said Thursday its second-quarter net profit more than quadrupled compared to a year earlier, driven by brisk sales of petrochemicals and lubricants.In a regulatory filing, Korea’s No. 3 refiner posted 239.7 billion won ($227.7 million) in net profit for the April-June period, up 346.4 percent year-on-year.Sales shot up 63.4 percent to top 8 trillion won for the same period, setting a r
July 28, 2011
-
Hyundai Steel posts record quarterly figures
Hyundai Steel said Thursday its earnings hit new highs in the April-June period, breaking the previous record set in the first three months of this year.The company posted sales of 4.05 trillion won ($3.8 billion) for the second quarter. This is the first time Hyundai Steel has posted quarterly sales of more than 4 trillion won. In comparison to the same period last year, Hyundai Steel’s sales hav
July 28, 2011
-
Hyundai Motor’s profit up 37% in 2nd quarter
Hyundai Motor Co., the nation’s largest carmaker, logged a 37 percent increase in net income for the second quarter, beating consensus forecast on record overseas sales benefited from the demand-drop for Japanese carmakers after the March earthquake.The company posted a net income of 2.3 trillion won ($2.2 billion) in the April-June period, posting a sharp increase from 1.68 trillion won in the sa
July 28, 2011
-
KT aims to change mobile phone distribution structure
KT Corp. announced Thursday that it is introducing a set of measures, including a fair price system, to revolutionize the mobile phone distribution process that has been untouched for 20 years.Pyo Hyun-myung, president of the mobile business group at KT, told reporters that it will publicize the price of the company’s mobile phones to its customers for them to purchase the gadgets at a fair price
July 28, 2011
-
SKT on road to mutual growth
Country’s top mobile carrier signs shared growth agreement with 360 partnersSK Telecom, the country’s top mobile carrier, is on the road to emphasizing mutual growth as it embarks on a number of projects with its smaller subcontractors.On Tuesday, SKT pledged mutual growth with its seven partners on establishing a nationwide network for fourth generation Long Term Evolution technology. The seven p
July 28, 2011
-
Japan’s retail sales rise for first time since quake
Japan’s retail sales rose in June, exceeding all economists’ forecasts, adding to signs that the economy is bouncing back from an initial post-disaster plunge. Sales rose 1.1 percent in June from a year earlier, the Trade Ministry said Thursday in Tokyo. The median estimate of 16 economists surveyed by Bloomberg News was for a 0.5 percent decline, with the highest estimate for a 0.6 percent gain.
July 28, 2011
-
Obama to set fuel standard goal
July 28, 2011
-
U.S. eyes debt compromise under deadline squeeze
July 28, 2011
-
Asia faces rising price pressures: ADB
Asian economies’ growth slowdown, inflation concerns remainAsian policy makers need to tackle rising inflationary pressures in their economies even as global growth weakens, the Asian Development Bank said. The region can use monetary and fiscal policies as well as exchange rates to ease price pressure, the Manila-based lender said in its Asia Economic Monitor report Thursday. Asian economies also
July 28, 2011
-
K-water head reappointed
Kim Kuen-ho, chief executive of the Korea Water Resources Corp., will retain the office for another year, the Ministry of Land, Transport and Maritime Affairs said Tuesday.The ministry said it received approval from President Lee Myung-bak for its request that Kim be reappointed for an additional year. His three-year term expired Wednesday. Kim Kuen-hoThe decision reflects the ministry’s efforts t
July 28, 2011
-
Air France-KLM in ‘long-term relationship’ with Korea
Air France, the first European carrier to enter the Korean market almost three decades ago, weathered a fair amount of storms here, but it never once thought to cut its services.Instead, it bet even bigger and pledged to stay for the long-term.This unwavering sense of commitment became the driving force behind the company’s fast and steady growth in Korea and Asia, said Erik Varwijk, executive vic
July 27, 2011
-
LGE posts 2nd straight quarterly profit
LG Electronics posted a second consecutive quarter of operating profit meeting market expectations and fueling anticipation for a much-awaited turnaround, the Seoul-based company said Wednesday. The electronics maker’s quarterly operating profit reached 158.2 billion won ($145.8 million), up 20.9 percent from the previous quarter, while sales stood at 14.4 trillion won ($13.3 billion) to rise 9.3
July 27, 2011