Most Popular
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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[Today’s K-pop] Stray Kids go gold in US with ‘Maniac’
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Woman dangling from power lines rescued by residents holding blanket
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Naver Q1 net income soars 1,171.9% on growth of major businesses
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Irish senate passes bailout bill
DUBLIN (AFP) ― Ireland’s upper house of parliament passed Saturday a key finance bill needed to secure the country’s bailout package, paving the way for embattled Prime Minister Brian Cowen to call elections.The budget, which hikes taxes and slashes spending as part of the price for the 67.5 billion euro ($91 billion) European Union-International Monetary Fund bailout, had already passed the lower
Jan. 30, 2011
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Facebook’s value exceeds Amazon.com
Facebook Inc.’s valuation topped Amazon.com Inc., leaving the social-networking company behind only Google Inc. among U.S. Internet companies. Facebook is valued at $82.9 billion on secondary exchange SharesPost Inc. and has jumped by more than 40 percent since mid-December. Amazon shares dropped 7.2 percent Friday after a disappointing sales forecast, pushing its stock market value down to $77.2
Jan. 30, 2011
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Samsung posts highest sales of 154 trillion won in 2010
Samsung Electronics announced Friday that its total sales and operating profit for last year climbed to a record high, reaching more than 154 trillion won ($138.2 billion) and 17 trillion won, respectively, buoyed by increased sales of memory chips and mobiles.The country’s top electronics manufacturer said it posted 154.63 trillion won in total sales and 17.3 trillion won in operating profit, sur
Jan. 28, 2011
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Hynix to increase line-up of premium chips to 70%
Hynix Semiconductor Inc., the world’s second-biggest computer memory chipmaker, said it would focus more on producing premium products in the non-PC sector this year in a bid to widen the gap with other follow-up firms on the global stage.Kwon Oh-chul, chief executive of Hynix, said in a press conference late Thursday that the premium product line-up will account for about 70 percent of sales in 2
Jan. 28, 2011
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Kia posts record revenue, profit on sales
Kia Motors Corp. saw its sales and profits reach an all-time high in 2010, fueled by massive improvements in sales seen both at home and abroad.The carmaker Friday reported yearly sales of 23.26 trillion won ($20.88 billion) and operating profit of 1.68 trillion won, up respectively 26.3 percent and 46.8 percent from a year earlier.Over the corresponding period, the company’s net profits jumped 55
Jan. 28, 2011
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Samsung's Q4 operating profit down 12.4 pct
Samsung Electronics shares surpassed the 1,000,000 won mark on Jan. 19 in an intraday trading. (Yonhap News)Samsung Electronics Co., the world's largest maker of computer memory chips, said Friday that its fourth-quarter operating profit fell 12.4 percent from a year ago as weak demand for TVs battered flat-screen panel prices. Operating profit stood at 3.01 trillion won ($2.7 billion) in the
Jan. 28, 2011
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KT swings to profit in Q4 on iPhone sales
South Korea's biggest telecom company KT Corp. said Friday that it returned to the black in the fourth quarter of 2010 from a net loss a year earlier, helped by brisk sales of Apple Inc.'s iPhone. Net profit reached 105.1 billion won ($94.3 million) in the October-December period, compared with a net loss of 430.5 billion won one year earlier, it said in a regulatory filing. The loss in the
Jan. 28, 2011
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POSCO steps up resources development
Steelmaker boosts magnesium capabilities in its diversification driveAs magnesium alloys emerge as next-generation material for vehicles, POSCO, the world’s fourth-largest steelmaker, is betting on the metal to fuel the next stage of its drive to become an all-round materials developer.While the market for magnesium alloys remains relatively small, such materials have become key candidates for use
Jan. 27, 2011
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Kindle Singles debuts pithy digital works
SAN FRANCISCO (AFP) ― Amazon has released the first of a new line of short digital books pitched as quick, captivating works for its popular Kindle electronic readers.The launch of Kindle Singles included the debut of TED Books, written versions of inspirational 18-minute talks that are a trademark of renowned TED gatherings dedicated to cultivating “ideas worth spreading.”“This first set of Singl
Jan. 27, 2011
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China unveils new steps to cool property market
BEIJING (AP) ― China on Wednesday unveiled fresh measures to curb property prices, including requiring unruly local governments to set price controls, but made no mention of a widely expected property tax.City governments must set property price control targets in line with local income levels for 2011 and need to make the targets public in the first quarter, according to a state media report citi
Jan. 27, 2011
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Hyundai Motor net soars to 5.27tr won
Hyundai Motor Co.’s net annual profits broke the 5 trillion won mark for the first time in 2010 buoyed by improving performances from overseas operations, the company announced Thursday.The company’s net profits for 2010 jumped 77.8 percent from the previous year to come in at 5.27 trillion won ($4.73 billion), while operating profits came in at 3.23 trillion won, up 44.4 percent from 2009.The com
Jan. 27, 2011
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Robots to teach, fight fire in pilot projects
Robots will be deployed for education, fire-fighting, sewage repairs and manufacturing this year in a series of pilot projects aimed at nurturing robotics as the country’s key growth industry.Next year will see robots patrol danger zones, remove mines in the DMZ and do farm work, according to government-led plans unveiled Thursday.Seven ministries involving industry, education and the environment
Jan. 27, 2011
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Hynix posts record W12tr sales in 2010
Hynix Semiconductor Inc. announced Thursday that its consolidated sales for last year reached record 12.09 trillion won ($10.86 billion), up by 53 percent from 2009, despite the fall in prices of DRAM and NAND Flash memory.The world’s second-biggest computer memory chipmaker said that its operating profit totaled 3.27 trillion won, an increase of 1,605 percent from 192 billion won recorded in 2009
Jan. 27, 2011
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S-Oil back into black
S-Oil Corp., Korea’s third- biggest oil refiner, posted a fourth-quarter profit that beat analysts’ estimates as a global economic recovery helped increase earnings from processing crude into gasoline and diesel. Net income was 322.7 billion won ($290 million) in the three months ended Dec. 31, compared with a loss of 87.4 billion won a year earlier, the Seoul-based company said in a regulatory fi
Jan. 27, 2011
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Korean Air targets record operating profit on A380s
Korean Air, the country’s largest carrier, forecast record operating profit this year as it seeks to lure more premium-class travelers and begins to operate Airbus SAS A380 superjumbos.Operating profit, or sales minus the cost of goods sold and administrative expenses, may rise 14 percent to 1.28 trillion won ($1.1 billion), the company said in an e-mailed statement Thursday. Sales may increase 8.
Jan. 27, 2011
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Retailers target luxury sales, expand overseas for growth
After a year of record revenues, Korean retailers are aggressively expanding at home and abroad, pinning hopes on booming luxury goods sales and the rise of deep-pocketed Asian consumers.Top department store chains, Lotte, Shinsegae and Hyundai, are sizing up their existing downtown branches and opening new stores in suburban centers, setting their sights on consumers of high-end products.Large di
Jan. 26, 2011
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KEPCO completes first offshore weather tower
Korea Electric Power Corp. has established the country’s first meteorological tower at sea as part of its offshore wind power generation. The 115-meter Herald of Meteorological and Oceanographic Special Unit-1 was built on the South Sea near the Busan-Yeonggwang area, the company said Wednesday.Its primary purpose is to obtain meteorological and oceanographic data for an offshore wind farm planned
Jan. 26, 2011
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Korea catches up in water technologies
Korea has significantly narrowed the gap with advanced countries in water-related technologies under a government initiative to nurture growth, officials said Wednesday.For the past decade, the level of Korea’s technological capabilities in related fields have risen to about 80 percent that of advanced nations from 40 percent, according to the Ministry of Land, Transport and Maritime Affairs. A to
Jan. 26, 2011
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Daewoo E&C to retain CEO Seo
Daewoo Engineering & Construction CEO Seo Jong-uk was reappointed to the post for a three-year term, the firm said Wednesday.The nation’s fourth-largest builder said it held general and board meetings Tuesday and made the decision, despite recent changes it has undergone. It was acquired by Industrial Bank of Korea late last year. IBK currently holds 50.8 percent of the firm’s share. Seo Jong-woo
Jan. 26, 2011
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Rice wine exports hit record high in 2010
Exports of Korea’s traditional rice wine makgeolli reached an all-time high last year thanks to high demand in Japan and a spike in shipments to China, a report showed Wednesday.Makgeolli exports reached $19.1 million in 2010, up from $6.3 million a year earlier, said the report by the Korea Agro-Fisheries Trade Corp.By country, Japan topped the list of importers with shipments totaling $15.6 mill
Jan. 26, 2011