HONG KONG (AFP) ― The world’s highest hotel opened its doors in Hong Kong on Tuesday, housed in the city’s tallest skyscraper and offering unrivalled panoramic views of the world famous Victoria Harbor. Towering some 490 meters above the bustling, chaotic streets of the Southern Chinese city, the Ritz-Carlton Hotel is making a grand comeback after temporarily closing in 2008. Visitors peered ou...

The government, telecom operators, handset makers and credit card companies are teaming up to expedite the development of a new mobile payment technology. The Korea Communications Commission announced Tuesday the launch of a coalition to foster near-field communication technology, which allows shoppers to apply their mobile devices to an electronic reader at the check-out to pay for goods and se...

Telecom industry giant and world’s No. 2 phonemaker struggling to shirk blame for high call fees SK Telecom and Samsung Electronics, known for their airtight alliance on phone marketing and sales, are showing signs of a major rift with both parties attempting to shift blame for spiking call fees, according to industry watchers. On the government’s mounting demands on telecom companies to slash ...

The Trade Ministry is to again revise the Korean-language version of the Korea-EU free trade agreement, and resubmit the bill for ratification to the National Assembly for the third time. “The government was recently informed that several errors were found while reviewing the Korea-EU FTA’s Korean translation,” Rep. Nam Kyung-pil, National Assembly’s Foreign Affairs, Trade and Unification Commit...

Creditors of Korea Express Co. have accepted preliminary bids from three local conglomerates, including steel giant POSCO, to buy Korea‘s largest logistics firm, sources said Monday. Co-sales managers Nomura Securities and the state-run Korea Development Bank (KDB) accepted letters of intent in early March from POSCO, retail giant Lotte Group and leading food conglomerate CJ Group to buy a 37.6 ...

The Fair Trade Commission said Monday it is looking into whether Homeplus broke the law with an allegedly misleading advertisement for discount LED monitors sold at its stores last week. Homeplus, the country’s No. 2 retail chain, was offering the LED monitors for as low as 199,000 won ($178.56) at its 122 stores nationwide. Some buyers, however, were angry to discover that the monitors were no...

The state-run Korea Trade-Investment Promotion Agency said Monday that it will start assisting local firm’ overseas marketing through online social media. The trade body’s latest move comes as the world’s e-commerce market has been growing rapidly in recent years to reach a size of $9 trillion as of last year, KOTRA said. KOTRA will promote local information technology companies through social ...