State-run power firm strives to reduce deficit during CEO Kim’s first year via exports Korea Electric Power Co. has vowed to achieve financial soundness by making greater profits from the global power market while keeping power rates affordable. To meet its vision for 2025, the state-run power company is pushing to increase sales to 150 trillion won ($134 billion) and its overseas business to u...

Experts and government officials hailed the Seoul meeting of forestry ministers from Asia as a milestone in cooperating on forestry in the region. Forestry ministers from Korea and member countries of the Association of Southeast Asian Nation, or ASEAN, congregated in Seoul to participate in the Special Korea-ASEAN Ministerial Meeting on Forestry, where the Seoul Declaration was adopted last wee...

Family-friendly foreign companies help employees ‘connect the dots’ in child care Koreans have associated foreign companies with a public image of workplaces with a democratic decision-making process and advanced welfare policies. Different foreign companies offer different degrees of financial support for children’s education. But they have similar parent-friendly welfare policies, particularl...

2NE1 Adidas Korea announced Tuesday it will hire Korean girl group 2NE1 as new models for its “All Originals Represent” advertisement campaign in Asia. In addition to the four-member K-pop group, hip-hop artists Nicki Minaj and Big Sean, NBA player Derrick Rose and Adidas fashion designer Jeremy Scott will show up in the advertisement. Scheduled to be first aired on YouTube, the advertisement ...

Following is the fifth in a series of articles about major companies’ social contribution activities at home and abroad. ― Ed. For Daewoo Engineering and Construction Co., its corporate social responsibility activities in Africa are all about sharing with humanity beyond race and nationality. Having proceeded with construction deals in local communities of multiple continents for decades, the c...

Dokdo The Land Ministry estimated the asset value of Dokdo at 7.4 billion won and the refurbished four rivers at 51 trillion won, according to a report the ministry submitted to the National Assembly. Land Ministry officials said that the government reevaluated all state-owned land assets including Dokdo and the nation’s major four rivers. The report calculates the total properties under the s...

Forestry officials from Korea and Vietnam pose after attending a meeting in Seoul on Monday to discuss cooperation between the two countries and the launch of the Asian Forest Cooperation Organization. (KFS) The Korea Forest Service met with its Vietnamese counterparts on Monday for the seventh Korea-Vietnam forest partnership conference held at the Korea Forest Research Institute in Seoul. Off...

Senior official expects exports of products of high-quality teak to Korea will increase Born and raised in attachment to forest by culture and history, Koreans have remained in active partnership with multiple Asian countries such as Indonesia and Vietnam to acquire beautiful wooden products. Myanmar has emerged as Korea’s next overseas investment partner, Korean government officials said, and ...

Hyundai Heavy Industries workers (from left) Kim Geum-man, Heu Tae-young and Kim Choon-jin pose at their workplace after winning the 2012 Korea Master Artisan’s Award. (HHI) Hyundai Heavy Industries Co., announced Tuesday that three of its employees were honored with the nation’s most prestigious award presented to artisans and technicians. The company said that it has had 26 award recipients s...

The IFC Seoul Office Tower buildings in Yeouido will open this week amid attention from the real estate industry over whether it will serve as a landmark in the financial district in Seoul. The IFC compex is composed of four buildings. They are the 32-story One IFC Seoul Office Tower, the 29-story Two IFC Seoul Office Tower, the 55-story Three IFC Seoul Office Tower and the 38-story hotel Conrad...

Higher salaries, less male-dominant corporate culture lure career women More women jobseekers prefer to look for employment at foreign-invested companies, hoping to avoid some of the barriers at Korean firms and seek a larger pool of opportunities. More women candidates are emerging in the high-end human resources market, according to one executive recruitment firm. “Now Korean conglomerates a...

S-Oil Corp. CEO Nasser Al-Mahasher (fifth from right) poses with the children of 102 firefighters who died on duty at the company’s headquarters in Gongdeok-dong on Friday. The oil company has supported firefighters and their families since 2006. (S-Oil) S-Oil Corp. held its annual ceremony on Friday to deliver scholarships to the children of Korean firefighters killed in the line of duty. With...