POSCO, the world’s third-biggest steelmaker by output, and its units raised their cost-cutting target for this year by 20 percent to sustain profits amid rising iron ore and coal prices. The group a...SCO, said by phone today, confirming an earlier Korea Economic Daily report. “That’s part of POSCO’s efforts to sustain stable profits given that raw material costs are rising, while it’s not easy fo...

...ve-through wedding chapels married fewer people, it was 1993. The wedding industry hoped Valentine’s Day would provide some much needed sizzle, but they weren’t betting on it with the festival fallin... gambling halls of the Las Vegas Strip. While Nevada was 35th in America in population in 2009, it’s fifth in marriages, according to the U.S. Census Bureau Marriages peaked in the county in 2004, wh...

...up has thought about the necessity of an alternative school that teaches the children on (the South’s) ideology and other knowledge,” said Kim Myung-sung, director general of NKIS, which is composed o... so that they can attend a local school and better adapt to society finally,” Kim said. The school’s first principal is Chae Kyoung-hee, 41, former mathematics teachers at a middle school in North Ha...

...pse of Lehman Brothers in 2008. But the bill gained added importance following a Korean consortium’s winning of the $18.6 billion nuclear power plant project from the United Arab Emirates in December... from property transfers, their transaction costs will become too high. Hence the Finance Ministry’s bill calls for removing all taxes on sukuk. The ministry says this measure is exactly the same as ...

...orea a fairer and more transparent society. The action plans followed up on President Lee Myung-bak’s vision of a fair society unveiled in his Liberation Day speech on Aug. 15 last year. On Thursday,...s view their society as unfair. He ascribed the widespread negative perception partly to the nation’s rapid industrialization and democratization. One may add Lee’s strong favoritism in choosing peop...

..., to many Middle East watchers, but now is exactly the time to seize a rare opportunity. Last week’s developments didn’t just uproot an entrenched dictator in Egypt. They unleashed an unprecedented w...ment. Israeli leaders are understandably nervous about the implications of President Hosni Mubarak’s ouster in Egypt and how it could affect the 1979 Egyptian-Israeli peace treaty. Egypt’s ruling mil...

China’s economic output as measured in purchasing power parity (PPP) terms passed Japan’s in 2001, going by International Monetary Fund data. Measured in current exchange rate terms, China’s gross domestic product has just dislodged Japan’s from the No. 2 spot that Japan has held for 42 years ― China’s 2010 GDP of $5.88 trillion, against Japan’s $5.47 trillion. As GDP in PPP terms is regarded in ...

... sight of a wider constellation of hugely promising economies. Even Jim O’Neill, coiner of Goldman’s now-ubiquitous BRICs, says investors ought to concentrate on a broader basket of “growth economies...t’s widely perceived to offer greater potential than the Philippines. That gets us back to Goldman’s BRICs. Russia’s GDP is more than double Indonesia’s and yet it’s often seen as a less promising bu...

...d-October, put forward a proposal for the 12th Five-Year Plan for national economic and social development over the next five years, once again highlighting the importance of transforming the country’s economic development mode. It also called for governments at various levels to shift their economic focus to this task. The transformation of a country’s development mode becomes unavoidable when the previous development mode is no longer suitable to changing conditions. As a result, market participants are motivated to directly respond to the new ma...

While the resignation of Egypt’s authoritarian President Hosni Mubarak may have only set the course for the difficult transition to democracy for Egypt, Feb. 11 will be remembered as the day the peop...d strategies during the 18 days of Egypt’s uprising, it is crystal clear that they, including the U.S., were outsiders on the receiving end of the Egyptian people’s decision. The Egyptian revolution ...