...onsequent fear among customers, which started with that of Samhwa Sanvings Bank on Jan 14, seems to have initiated the phenomenon,”a KDIC official said. The Financial Services Commission, the nation’s financial watchdog, halted the operations of seven other debt-saddled savings banks in February. They are Busan, Busan II, Jungang Busan, Daejeon, Jeonju, Bohae and Domin. The KDIC said the figure ...

... session late at night, in the absence of opposition lawmakers. “I have tried, as the ruling party’s communication leader, to communicate with the opposition camp,” said Kim Moo-sung. “Though the ra...first place.” Park, whose reputation was partly damaged by the FTA bill discord and the opposition’s boycott of the ballot session, also felt the same way as his counterpart. “I could have handed ov...

...ternoon, Hwang won 64 votes out of 159, closely beating his rival An Kyung-ryul, who won 55 votes. The two front runners were then put to a final vote, in which Hwang won 90 votes out of 159. Hwang’s electoral partner Lee Ju-young was elected as the party’s policy committee chairman. Hwang, a fourth-term lawmaker and former judge, is reputed for his non-factional political stance and profound legal insights, and is expected to win the support of those...

Samsung Electronics hired Cho Jun-hyung, a lawyer that defended the group in the independent counsel case over Samsung, as the flagship unit’s executive vice president earlier this month. Samsung Electronics confirmed Cho was employed to assist the company’s vice chairman Choi Gee-sung, according to a Samsung official. However, the official said Cho’s exact role at the company was undetermined a...

...ormer claimed that gas stations did not reflect the reduced supply price in their retail prices. Gas stations said the international oil price hike at the time of reduction offset the local price-cut’s impact. Starting with leading oil refiner SK Innovation, the nation’s oil refiners, also including GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Co., have slashed the price of gasoline and diesel by 100 won from April 7. The measure was adopted as local oil firms ...

Rapid spike in layoffs heightens concerns that pricier gas is slowing U.S. economy WASHINGTON (AP) ― A renewed rise in layoffs is the latest sign that higher fuel prices may be slowing the economy. ...h the decline was also influenced by the drop in oil prices. “The trend is clearly upward, so that’s disconcerting,” said Kurt Karl, chief U.S. economist for Swiss Re. “When you get three or four wee...