BC Card Co. and its 11 partner banks have agreed to join hands in protest against the “anti-market policy” of Visa, the Korean company said Tuesday. A consultative body, headed by a BC executive, expressed deep regret in a statement that Visa has fined BC unilaterally for refusing to use its global fee payment system. “The measure was an anti-market policy aimed at blocking consumers from using...

Cars made by Hyundai Motor Co. and its affiliate Kia Motors Corp. have been rated as the best low-cost ownership models in Australia, raising hopes for stronger sales down the road, industry sources said Tuesday. Hyundai’s i30 hatchback family car and Starex van and Kia’s Sportage R compact sport utility vehicle and Sorento mid-sized SUV ranked first among cars checked in their respective segmen...

The number of small and medium sized enterprises positively rating the government-led shared growth drive has almost doubled since the introduction of a comprehensive plan last year, the Ministry of Knowledge Economy said Monday. The government implemented a comprehensive plan for supporting shared growth activities on Sept. 29, 2010, and added follow up measures including tax breaks for large f...

LG Electronics has shipped a record amount of smartphones in the second quarter of this year to step closer to its goal of rejoining the ranks of top-tier phone makers, sources said on Monday. The world’s third-largest handset maker showed a 590 percent increase in its shipment of smartphones in the second quarter of this year, which was five times more than the same period last year, according ...

Program invites university students to software research projects LG Electronics on Sunday said it will be working jointly with the government to help nurture software personnel. Until Aug. 26 the Seoul-based electronics company will receive applications for an IT software research study project in tandem with the National IT Industry Promotion Agency under the Ministry of Knowledge Economy. T...

Korean courts to face tough call caught between two rivals As Samsung Electronics is poised to appeal the latest decision from a German court to ban the sale of its Galaxy Tab 10.1 in the European Union, all eyes are on the next phase of the patent battle. How the Seoul courts rule will be key in the legal drama between Samsung and Apple, according to industry watchers. “The Korean court has i...

Surge may have been caused by Korea-EU FTA taking effect The number of travelers purchasing luxury goods in Europe sharply increased after the Korea-EU free trade agreement took effect in July, the customs agency said Sunday. A total of 1,056 people were stopped by customs officials last month as they were found to have purchased items worth more than the $400 duty-free allowance, according to ...