Most Popular
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Yoon's approval rating plunges to all-time low
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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S. Korea votes in favor of Palestinian bid for UN membership
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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[Graphic News] French bulldog most popular breed in US, Maltese most popular in Korea
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Japan ends analog TV broadcasts after 58 years
Japan ended a 58-year era of analog television broadcast Sunday, becoming the first Asian nation to complete the transition to digital transmission. Cathode-ray tube TVs, usually with a curved screen and a protruding box at the back, could no longer display programs without adding a special tuner after the switchover Sunday afternoon. Public broadcaster NHK news and Pocket Monsters cartoon series
July 25, 2011
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Greeks struggle to shed old ways of thinking
A few entrepreneurs think positively in forbidding landscape of anger and entitlementATHENS (AP) ― A few Greek entrepreneurs perch in front of laptops in bare offices above a ground-floor supermarket, five minutes’ walk from the Athens square convulsed by riots last month over the country’s economic crisis.“Innovate,” a wall slogan exhorts. “Originate.” A bowl of fist-sized plastic balls sits on a
July 25, 2011
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Supermarkets see slower growth on rising competition
Supermarkets saw the smallest sales increase among retailers during the first quarter of the year affected by rising consumer prices and the increase in the number of other forms of retailers.According to Statistics Korea, the combined first quarter sales of supermarkets in the country rose 3.4 percent to about 5.9 trillion won ($5.6 billion), while other types of retailers saw double-digit growth
July 24, 2011
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TV makers wrestle with flimsy sales
Korea’s electronics giants Samsung and LG are grappling with faltering television businesses as slack demand in wealthy countries and nose-diving display prices combined to dent their second-quarter earnings.Samsung Electronics, the world’s top TV producer, estimated its operating profit at 3.7 trillion won ($3.5 billion) in the three months to June, down nearly 27 percent year-on-year. LG Display
July 24, 2011
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Kakao Talk moving to launch Internet call services
Competition is heating up between mobile messenger operators in Korea as Kakao Talk, the formidable smartphone application, appears to be developing its internet phone call services. Industry watchers said Sunday the venture firm has been recruiting engineers who have experience in mobile voiceover Internet protocol, technology that enables voice and multimedia communications between users via bro
July 24, 2011
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Prada Korea shuns good causes
Prada Korea transferred most of its net profits for 2009 to its parent firm, while providing nothing in the way of social contributions to Korea, placing the company among foreign firms accused of turning a blind eye to social causes.The Korean vendor of the Italian fashion brand is wholly owned by Prada Far East, based in the Netherlands. According to Prada Korea’s regulatory filings, more than 1
July 24, 2011
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Prada Korea sends most of earnings to overseas parent
Prada Korea transferred most of its net profits for 2009 to its parent firm, while providing little in the way of social contributions to Korea, placing the company among foreign firms accused of turning a blind eye to social causes.The Korean vendor of the Italian fashion brand is wholly owned by Prada Far East, based in the Netherlands. According to Prada Korea’s regulatory filings, more than 15
July 24, 2011
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Fake Kia ad stripped of Cannes award
Creatives of a Brazilian campaign agency, Moma Propoganda, have been banned from next year’s Cannes Lions International Festival of Creativity after they used fake Kia Motors ads to win two awards at the Cannes awards.Intended to promote the Kia Sportage’s dual-zone hot-and-cold climate control feature, the agency creatives illustrated family-friendly images on one side, juxtaposed with adult fant
July 24, 2011
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Milk shortage continues due to heat wave
On Thursday afternoon, Jeong Hyun-sook, a 55-year-old housewife, belatedly realized she did not have enough milk for breakfast. She rushed to a nearby supermarket but all she could find was organic milk, which was almost twice the price of ordinary milk. “A clerk said that the milk shelf often becomes empty earlier than usual recently. I was just stunned,” she said.Jeong eventually bought two 200-
July 22, 2011
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‘Carmakers to see reduced surplus from revised FTA’
The modified Korea-U.S. free trade agreement will bring in less surplus for domestic carmakers than had initially been forecast, a government report said Friday. The FTA, signed in 2007 and modified in November is expected to expand local carmakers’ trade surplus by $488 million annually, $53 million less than the equivalent figure under the earlier terms agreed. The two nations agreed to scale ba
July 22, 2011
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HTC may switch to Samsung chips
Smartphone manufacturer HTC Corp. is considering switching to Samsung’s mobile application processors in a move that may help the local electronics maker extend its market share, industry sources said. A man checks out items for his new HTC EVO smart phone at the Sprint store in Los Angeles, California (MCT)HTC currently uses Qualcomm processors. Qualcomm accounts for more than 40 percent of the g
July 22, 2011
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Red meat market widens for Australia, U.S., Canada
Red meat market widens for Australia, U.S., CanadaBy Cynthia J. KimImported red meat from Australia, the United States and Europe is enjoying a fast-increasing market share in Korea, benefiting from the huge loss of livestock here after the worst-ever foot-and-mouth disease outbreak in the past year.And competition in the imported beef market is set to become fiercer as Canada will soon resume its
July 21, 2011
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SKT sets up new social enterprise in Seoul
SK Telecom said Thursday it established a social enterprise called Happy ICT Foundation in southwestern Seoul, together with another social enterprise affiliated with the group.The new social enterprise will support the information technology infrastructure of other social enterprises that require assistance. Affordable IT service solutions and consulting services will be provided and shared with
July 21, 2011
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Amore in talks to buy French perfume brand
Amore Pacific Corp. is considering acquiring a French luxury perfume brand, Annick Goutal, in the hope of diversifying its global portfolio, company officials said Thursday. Amore Pacific CEOSuh Kyung-baeThe nation’s largest cosmetics manufacturer, however, made it clear that nothing had been decided regarding the potential takeover. “The possible takeover will pave the way for us to go global i
July 21, 2011
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LG Display fails to swing into black in Q2
LG Display failed to swing into the black in the second quarter of this year due to sluggish market conditions but narrowed its operating deficit to 48.3 billion won ($45.6 million) from 23.9 billion won in the previous quarter.Quarterly net profit reached 21.3 billion won, up from the 115.4 billion won deficit it recorded in the first quarter, the Seoul-based display-maker said on Thursday. “We f
July 21, 2011
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First Korean CEO hopes Siemens gets closer to local customers
Siemens Korea will become a “true Korean company” that contributes to the country’s economic growth and job creation, its new and first Korean chief executive said Thursday. “I’m the first Korean CEO in the 60-year-old history of Siemens Korea. The headquarters may have thought a native would know better about the local market and respond faster to it,” Kim Jong-kap, chairman and CEO of Siemens K
July 21, 2011
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Hynix’s sales edge down, but profit rises from Q1
Hynix Semiconductor, the world’s second-largest computer memory chip maker, announced Thursday it posted 2.76 trillion won in sales and 447 billion won in operating profit for the second quarter.The figures are down from the same period last year, 16 percent in sales and 56 percent in operating profit. Net income reached 473 billion won ($449 million).“The second quarter started off with demand gr
July 21, 2011
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Incheon airport to see record traffic
More trips abroad, Japan’s disaster recovery crowds transport hubA record number of people will go through Incheon International Airport on July 30, the airport’s operators said Thursday.According to the airport’s estimates, the number of people using international and domestic flights to and from the airport on July 30 will come in at 118,547. The figure is about 2 percent higher than the previou
July 21, 2011
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No sign of dispute-end at SC First Bank
SC First Bank and its labor union, staging the longest walkout in the industry, are increasingly under pressure to strike a deal to end the dispute after the fight resulted in its lowered credit rating and intense scrutiny from the regulator.About half of its 6,500 workforce has been on strike since June 27 to protest against the proposed introduction of a performance-based pay system. The bank wa
July 21, 2011
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Hyundai Steel looks to expand Japanese contracts
Hyundai Steel is pushing the drive to expand its presence in the Japanese market for steel plates for ships, with up to four new supply contracts looking likely to be closed during the second half of the year.The company, which began producing thick steel plates in April 2010, has been supplying thick plates to Japanese construction firms and machinery makers since September. According to the comp
July 21, 2011