Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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KT to deliver K-pop content via Ustream
KT, the nation’s major telecom services provider, said Wednesday that it has agreed with U.S.-based live video streaming site Ustream to set up a joint venture to spread K-pop content around the world. The tentatively named “Ustream Korea” will support the distribution of Korea’s diverse cultural contents into the global market and offer business opportunities for smaller producers, KT said.KT said that the joint company will be established within the year and start providing Korean services via
Oct. 26, 2011
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LG Electronics swings to Q3 loss on smartphone woes
SEOUL, Oct. 26 (Yonhap) -- LG Electronics Inc., the world's third-largest mobile phone maker, said Wednesday that it swung to a net loss in the third quarter of this year due to its struggling smartphone business.Net loss amounted to 413.9 billion won (US$366.7 million) in the July-September period,
Oct. 26, 2011
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IBM names its first female CEO
SAN FRANCISCO (AP) — IBM Corp. ushered in Virginia Rometty as the company's first-ever female CEO on Tuesday, as Sam Palmisano stepped down from the position.Palmisano, who turned 60 this year, has been CEO for nearly a decade. He will stay on as chairman. Virginia "Ginni" Rometty, 54, is in c
Oct. 26, 2011
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Samsung, LG showcase new products in Iraq show
Two local electronics giants said Tuesday they are taking part in the four-day trade show in Iraq until Thursday to display their cutting-edge technologies in the Middle East.Samsung Electronics and LG Electronics said they have set up booths at the Erbil International Fair, which is the largest trade show in Iraq, participated by about 850 global firms. Their lineup of smartphones, 3D televisions and home appliances will be displayed throughout the show, according to companies’ officials. With
Oct. 25, 2011
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Department stores charge small vendors double
The Fair Trade Commission said Tuesday that smaller vendors pay almost 32 percent of their profits as commission fees for using the floor space of three major department stores. The antitrust regulator over the past two weeks surveyed 73 small- and medium-sized companies that supply products to Lotte, Shinsegae and Hyundai department stores. Shirt and tie vendors were found to have paid the highest rate of 37 percent, followed by those selling children’s clothes with 36.7 percent, men’s clothes
Oct. 25, 2011
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AmorePacific eyes gain in China market share
HONG KONG (Yonhap News) ― AmorePacific Corp., South Korea’s No. 1 cosmetics manufacturer, will likely see its share of the Chinese market rise this year from a year ago, company officials said Tuesday. The market share is expected to rise to 2 percent in 2011 from 1.6 percent last year, the officials said, adding that the 0.4 percentage point rise in a year is quite an advancement for a cosmetics firm in China.They attributed the rise to growing confidence among the Chinese consumers in South Ko
Oct. 25, 2011
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World Ocean Forum opens in Busan
The fifth World Ocean Forum kicks off in Busan on Wednesday.The three-day forum will focus on the spread of “smart” technologies and the changes these developments have had on marine industries. The event, organized by the Ministry of Land, Transport and Maritime Affairs, Busan city government and the Korea Association of Marine Industry, will bring together 3,000 academics, business people and marine industry experts from across the world. The forum will be divided into five sessions ― smart sh
Oct. 25, 2011
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E-Mart launches ultra-cheap LED TV
Retail giant threatens Samsung and LG with half-priced setsE-Mart will launch an ultra-cheap TV set on Thursday in a bold move to enter the electronics market that has long been dominated by Samsung and LG. E-Mart said its Dream View is a 32-inch full HD LED TV priced at 499,000 won ($443), up to 42 percent cheaper than those with similar specifications produced by local electronics giants.Even when compared to Chinese brands, the price is about 28 percent cheaper, the company said. “We have red
Oct. 25, 2011
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LG likely to ink patent agreement with Microsoft next month
Vice chairman Koo may meet Microsoft counterpart at APEC CEO SummitLG Electronics will likely ink an agreement on patent loyalties with U.S. software giant Microsoft as early as next month, industry sources said Tuesday.The move is expected to further burden the Korean firm which is currently suffering from a sparse smartphone line-up. It could incur losses that amount to millions of dollars as the source noted that the firm is most likely to offer $3 per every Android device to Microsoft. A big
Oct. 25, 2011
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Oil prices expected to slip 8 percent next year: report
SEOUL, Oct. 25 (Yonhap) -- International crude oil prices are expected to fall up to 8 percent in 2012 from this year's levels as demand for oil products decline in line with the global economic slump, a report showed Tuesday.The price of Dubai crude, South Korea's benchmark, would trade at a range
Oct. 25, 2011
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63 Building to undergo major renovation
The 63 City Building, the nation’s second-tallest building, will undergo a five-year renovation including the replacement of its 13,400 gold-tinted windows, industry sources said Monday. The 249-meter-high skyscraper in Yeouido, Seoul’s financial district, is currently home to more than 10,000 employees of Korea Life Insurance and other companies. The landmark building also houses a number of foreign companies operating in Korea.The large-scale renovation, including the remodeling of vacant offi
Oct. 24, 2011
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Asiana teams up with KOICA for development aid program
Asiana Airlines signed up to the Korea International Cooperation Agency’s public-private partnership program on Monday.Companies taking part in the program collaborate with KOICA to carry out development aid projects in developing countries. The partner from the private sector is signed on for one year.The carrier said the KOICA selected the company for partnership in recognition of its corporate social responsibility programs. Asiana Airlines has been working on social contribution projects in
Oct. 24, 2011
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LSIS completes plant for high voltage valves
LSIS Co.’s plant for the production of high voltage direct current transmission systems was completed on Monday.Located within Busan-Jinhae Free Economic Zone, the facility is the country’s first plant for producing high-voltage direct current transmission equipment.The 110 billion won plant ($97 million) is equipped with facilities for assembling and testing all related equipment, and a production line for thyristor valves, which is an essential component of the transmission system, the company
Oct. 24, 2011
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KT, BC Card seek convergence to lead mobile payment market
Mobile payment services can be an answer to the current controversy over high commission fees for credit card payment, KT chairman Lee Suk-chae said Monday. KT Corp., which became the largest shareholder of BC Card in February, announced in the day the company’s new vision to expand business into mobile payment services. “We would not try to compete with other credit card or communications companies but will offer payment services for them to further grow,” Lee told reporters at KT’s headquarter
Oct. 24, 2011
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Local franchise chains enjoy royalty sales abroad
Tous les Jours on Thursday signed a royalty deal with CBM Corporation Co., a Cambodia-based franchise company, to allow its brand name to be used in the Southeast Asian country. Following the first deal with a Philippine retailer in December, the local bakery chain, operated by CJ Foodville, aims to
Oct. 23, 2011
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Game curfew law one month away, still confuses industry
Range of games, government guideline still not finalizedThe online game industry is still confused about the government’s ban on teenagers accessing online games at night, with it set to take effect in less than a month.Beginning Nov. 20, those under 16 will be prohibited by law from logging onto on
Oct. 23, 2011
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GSK fined for colluding to block sale of generics
GlaxoSmithKline has been fined for colluding with a local drug maker to hinder the generic sale of its anti-emetic Zofran for the past 12 years, antitrust authorities said Sunday. It is the first time that a multinational drug company has been found to offer financial benefits in return for the with
Oct. 23, 2011
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Samsung ahead of Apple in Q3 smartphone sales
Samsung Electronics Co. outpaced Apple Inc. in the global smartphone market by more than 10 million handsets during the third quarter of the year, industry data showed Friday.According to the data, Samsung Electronics sold about 27 million smartphones during the July-to-Sept. period, while Apple’s f
Oct. 21, 2011
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POSCO Q3 sales, profits increase
POSCO’s consolidated net profits for the third quarter of the year fell 78.4 percent from a year to 233 billion won ($203 million), the steelmaker said Friday.Over the same period, POSCO’s consolidated sales and operating profits respectively increased by 51.5 percent and 5.2 percent.The company att
Oct. 21, 2011
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Hyundai Motor buys local life insurer
Hyundai Motor Group, South Korea's second-largest family-owned conglomerate, bought a local life insurer as it moves to expand in financial sector portfolio, business sources said Friday.Financial sources said that Hyundai secured Green Cross Life Insurance for 228.3 billion won ($198.3 million) fro
Oct. 21, 2011