Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Are hot dogs as bad as cigarettes?
Eating hot dogs may be as hazardous to one’s health as smoking cigarettes, according to civil activists in the United States.Sonya "The Black Widow" Thomas, center right, wins the first Nathan's Famous Women's Hot Dog Eating World Championship after consuming 40 hot dogs and buns, Monday, July 4, 2011, Monday, July 4, 2011, at Coney Island, in the Brooklyn borough of New York. (AP-Yonhap News)The
TechnologyJuly 29, 2011
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Samsung Electronics logs 18 pct drop in Q2 net
Samsung Electronics Co., the world's top memory chipmaker, said Friday that its second-quarter earnings declined 18 percent from a year ago as feeble demand for TVs and personal computers drove down chip and display prices. Net profit reached 3.51 trillion won ($3.33 billion) in the April-June period, compared with 4.28 trillion won a year earlier, it said in a regulatory filing.The bottom line wa
IndustryJuly 29, 2011
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Asiana cargo flight crashes off Jeju coast
An Asiana Airlines cargo flight bound for Shanghai Pudong International Airport crashed off the coast of Jeju early Thursday while diverting to the island due to a fire in the cargo hold.“The cargo plane said in its last communication with the control center in Shanghai that there was a fire in the cargo hold,” Kim Han-young, Director General of Ministry of Land, Transport and Maritime Affairs’ Of
IndustryJuly 28, 2011
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Samsung Electronics under tax probe
National Tax Service launches regular investigation on Samsung flagshipSamsung Electronics, which had been putting off a regular tax investigation for almost half a year, is now in the midst of the probe launched by the local tax authorities. About 30 officials of the National Tax Service were dispatched to Samsung Group’s flagship unit earlier this week, according to government and industry sourc
IndustryJuly 28, 2011
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LG Innotek sues Osram in Chinese court
LG Innotek on Thursday said it has filed a lawsuit against Osram’s Chinese corporation and another company called Hella for infringing patent rights for light-emitting diode technology.LG Innotek filed the suit at a court in Beijing, demanding Osram cease selling its LED products and also seeking compensation for damages.Osram is a light-manufacturing unit of Siemens AG, while Hella is a global ma
IndustryJuly 28, 2011
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Auto insurers face claims from rain damage
Auto insurers face a sharp increase in claims from rain damage that has caused at least 41 deaths in the capital area since Tuesday.More than 400 millimeters of precipitation was recorded in Seoul between Tuesday and Wednesday, causing a landslide at Mount Woomyeon and at least 16 deaths in the city’s south.Car insurers are expected to see a major decline in profits for the month as they were alre
July 28, 2011
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Chaebol slow to promote reform of ownership
Heads of family-run conglomerates continue to control empires with little stakesOwners of Korea’s leading family-run conglomerates, or chaebol, are still opting to employ circular intra-group shareholding practices to run a large number of affiliates with little or no stake ownership, the state-run antitrust regulator said Thursday.According to the Fair Trade Commission, each chairperson of the c
IndustryJuly 28, 2011
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Equus tops U.S. customer satisfaction ratings
South Korea’s top automaker Hyundai Motor Co. said Thursday that its large passenger car Equus has received the highest marks in a U.S. customer satisfaction survey, outshining BMW, Audi and Mercedes-Benz.The luxury sedan received 904 points out of a maximum 1,000 in the Associates Automotive Performance Execution and Layout survey by J.D. Power and Associates on new car owners from February throu
IndustryJuly 28, 2011
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SK China enters car rental business
HONG KONG (Yonhap News) ― The Chinese subsidiary of South Korean conglomerate SK Group said Thursday it has entered the car rental business in a bid to tap into the world’s most populous country.SK China Co. said it started renting automobiles this month in nine cities, including Beijing, Hangzhou and Shenyang.It currently has 1,200 vehicles, including sedans and sport utility vehicles manufacture
IndustryJuly 28, 2011
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Lotte Chilsung absorbs liquor affiliate
South Korea’s top soft drink maker Lotte Chilsung Beverage Co. said Thursday that it decided to absorb and merge with Lotte Liquor BG Co., its alcoholic beverage affiliate, to boost shareholder value.Lotte Chilsung said the merger will take effect on Oct. 1, and the merger ratio will be 1:0. Lotte Chilsung holds a 100 percent stake in Lotte Liquor.“The merger is aimed at maximizing shareholder val
IndustryJuly 28, 2011
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Daewoo Shipbuilding Q2 net slips 3.6 pct
Daewoo Shipbuilding & Marine Engineering Co. said Thursday that its second-quarter earnings fell 3.6 percent from a year earlier as it filled more orders for low-priced ships that were won following the global economic downturn.Net income reached 170 billion won ($162 million) in the April-June period, compared with a profit of 177 billion won a year earlier, the company said in a regulatory filin
IndustryJuly 28, 2011
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S-Oil Q2 net profit more than quadruples
S-Oil Corp. said Thursday its second-quarter net profit more than quadrupled compared to a year earlier, driven by brisk sales of petrochemicals and lubricants.In a regulatory filing, Korea’s No. 3 refiner posted 239.7 billion won ($227.7 million) in net profit for the April-June period, up 346.4 percent year-on-year.Sales shot up 63.4 percent to top 8 trillion won for the same period, setting a r
IndustryJuly 28, 2011
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Hyundai Steel posts record quarterly figures
Hyundai Steel said Thursday its earnings hit new highs in the April-June period, breaking the previous record set in the first three months of this year.The company posted sales of 4.05 trillion won ($3.8 billion) for the second quarter. This is the first time Hyundai Steel has posted quarterly sales of more than 4 trillion won. In comparison to the same period last year, Hyundai Steel’s sales hav
IndustryJuly 28, 2011
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Hyundai Motor’s profit up 37% in 2nd quarter
Hyundai Motor Co., the nation’s largest carmaker, logged a 37 percent increase in net income for the second quarter, beating consensus forecast on record overseas sales benefited from the demand-drop for Japanese carmakers after the March earthquake.The company posted a net income of 2.3 trillion won ($2.2 billion) in the April-June period, posting a sharp increase from 1.68 trillion won in the sa
IndustryJuly 28, 2011
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KT aims to change mobile phone distribution structure
KT Corp. announced Thursday that it is introducing a set of measures, including a fair price system, to revolutionize the mobile phone distribution process that has been untouched for 20 years.Pyo Hyun-myung, president of the mobile business group at KT, told reporters that it will publicize the price of the company’s mobile phones to its customers for them to purchase the gadgets at a fair price
IndustryJuly 28, 2011
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Brokerage firms set to increase equity capital
But they remain skeptical about M&As at present stageMajor securities firms are moving to meet the regulatory requirements in a bid to attain recognition as large-sized investment banks.The brokerages, such as Daewoo Securities and Samsung Securities, are poised to resort to increasing their equity capital as an initial step rather than pushing for mergers among them.Most of them plan to increase
July 28, 2011
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Ratio of exports to GDP hits new record in Q2
The weight of exports in the South Korean economy hit an all-time high in the second quarter, central bank data showed Thursday, underlining the country’s heavy dependence on overseas shipments for economic growth.Seasonally adjusted exports of goods and services amounted to 141.7 trillion won ($134.6 billion) in the April-June period, or 52.68 percent of the gross domestic product, according to t
July 28, 2011
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SKT on road to mutual growth
Country’s top mobile carrier signs shared growth agreement with 360 partnersSK Telecom, the country’s top mobile carrier, is on the road to emphasizing mutual growth as it embarks on a number of projects with its smaller subcontractors.On Tuesday, SKT pledged mutual growth with its seven partners on establishing a nationwide network for fourth generation Long Term Evolution technology. The seven p
IndustryJuly 28, 2011
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Sonata, K5 hybrids draw global attention
Hyundai-Kia gear up to catch up with Toyota hybridsHyundai Motor and Kia Motors had fallen behind Toyota Motor and Honda Motor in developing fuel-efficient and eco-friendly vehicles.But the nation’s two affiliated companies have plunged into keen competition to dominate the international green car markets by launching the hybrid version of popular sedans this year.“While we have joined the growing
MobilityJuly 28, 2011
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Japan’s retail sales rise for first time since quake
Japan’s retail sales rose in June, exceeding all economists’ forecasts, adding to signs that the economy is bouncing back from an initial post-disaster plunge. Sales rose 1.1 percent in June from a year earlier, the Trade Ministry said Thursday in Tokyo. The median estimate of 16 economists surveyed by Bloomberg News was for a 0.5 percent decline, with the highest estimate for a 0.6 percent gain.
IndustryJuly 28, 2011