Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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Why is Apple Pay struggling to get purchase in Korea?
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Yoon's office denies considering liberal figures for key posts
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Today’s K-pop] BTS pop-up event to come to Seoul
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Kyobo Life products offer monthly annuity for life
Kyobo Life Insurance, Co., the nation’s third largest insurer, launched a product offering monthly annuities for those looking to secure a stable income stream until retirement. The product, dubbed the Kyobo Premier Variable Whole Life Insurance, differs from other whole life insurance in that it provides monthly annuities for the family even after the subscriber dies. It protects the family again
July 14, 2011
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Innovation and collaboration fuels Korea Post’s express service
Introduced in 1979, the volume of packages moved through Korea Post’s express mail service or EMS has grown rapidly fueled by increasing exchange with other nations.According to Korea Post, the number of EMS packages sent abroad in 1979 numbered 600, but the figure soared to over 6 million last year, with revenues generated from the service reaching 243.4 billion won ($230 million). Kim Myong-ryo
July 14, 2011
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Korea Post improving services in globalizing world
CEOs of global 10 postal services discuss strategies to strengthen cooperation in BarcelonaKorea Post is stepping up efforts to improve the quality of international delivery services in collaboration with other national postal service providers.On Wednesday, the Kahala Posts Group ― an association of 10 postal services ― held a strategy meeting in Barcelona, where the attending chief executives of
July 14, 2011
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Market needs still more oil in Q3: IEA
PARIS (AFP) ― The oil market still needs more supplies for the third quarter of the year, the International Energy Agency warned on Wednesday, despite an official stock release and increased OPEC production.“Major producers have recognized that demand for their oil is rising ... as economic growth and short-term fuel substitution keep global and emerging market demand growth robust,” the IEA said
July 14, 2011
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Amazon planning iPad rival by October: WSJ
Online retail giant Amazon plans to unveil a tablet computer before October in a bid to carve out a slice of a growing market dominated by Apple's iPad, The Wall Street Journal reported Wednesday.The newspaper, citing "people familiar with the matter," also said Amazon plans to release two updated versions of its Kindle electronic reader in the third quarter of the year.The Journal said the tablet
July 14, 2011
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Hyundai, Kia ranked as top passenger car brands in Canada
South Korea's Hyundai Motor Co. and its sister company Kia Motors Corp. ranked as the best-selling passenger carmakers in Canada in the first half of this year, industry sources said Thursday.The two leading automobile makers in South Korea sold a combined 64,671 passenger cars in the North American country in the January-June period for a market share of 18.2 percent, according to the sources.The
July 14, 2011
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New rules devised to prevent fraud by bloggers
Online users, mostly so-called “power-bloggers” who post product reviews in return for benefit will be obligated to disclose their contract details starting July 14, the state-run antitrust regulator said Wednesday. In short, the users must reveal that their reviews were a part of a business deal with specific companies. If they fail to disclose such facts, the firms they signed on to issue the re
July 13, 2011
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GM Korea agrees on record bonus to settle labor strike
GM Korea, the third-largest carmaker in Korea, said it agreed Tuesday to give out a record bonus of 7 million won ($6,616) in additon to a 4.7 percent salary raise for its workers.“Management and the union were able to reach a compromise on Monday. But this is a tentative agreement which will be finalized tomorrow,” Kim Sung-soo, a spokesperson at the company said. “We need the majority (of the un
July 13, 2011
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Samsung paying the price with Apple feud: Ahn
Samsung is no match for Apple, IT guru Ahn Cheol-soo said in a recent interview with The Korea Herald, stressing that Samsung is paying the price for failing to create and encourage original platforms. “The vibes we are getting from abroad on the situation are quite different from what we are feeling in Korea,” Ahn said. Apple and Samsung are currently embroiled in a bitter legal dispute over lice
July 13, 2011
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Kimberly-Clark plans innovation center here
U.S. company says Korea is at the forefront of technologies and inventionsKimberly-Clark Corporation said Wednesday that it will establish its first overseas global innovation center in Korea as early as January.The U.S. households and personal care products manufacturer has already been operating its only Innovation Center Asia in Giheung, Gyeonggi Province, since 2007. While the current center w
July 13, 2011
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Woori’s global ranking highest among lenders
Woori Finance Holdings Co., South Korea’s No. 2 banking group, ranked 72nd last year on the list of the world’s 1,000 largest lenders by core capital, the highest spot among local lenders, the central bank said Wednesday.A total of nine South Korean banks made the list last year, the same number as the year before, the Bank of Korea said in a report based on the July edition of The Banker magazine
July 13, 2011
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CJ O launches channel in China
CJ O Shopping said Wednesday that its Chinese joint venture launched its second home shopping channel in China and started digital broadcasts.Dongbang CJ, the joint venture with Shanghai Media Group in China, has acquired channel number 20 and broadcasts its home shopping programs digitally around the clock to 2.5 million digital cable TV viewers in Shanghai, according to CJ O Shopping, formerly C
July 13, 2011
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Trade pact to give Korean drinkers more choices for less
European distilleries and wineries set out to aggressively tap the local market as a free trade agreement with Korea began scrapping tariffs on alcoholic beverages.Although the markets for wine and whisky have been booming in recent years here, heavy duties on imported bottles have limited choices of local drinkers. Under the deal, 15 percent tariffs on wine were removed on July 1, the first day o
July 13, 2011
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N.Y. college Incheon campus OK’d
SUNY at Stony Brook plans to open school in Songdo next Feb.The State University of New York at Stony Brook received the nod from the Incheon Free Economic Zone Authority for its plan to set up a campus in Songdo next year, the Ministry of Knowledge Economy said Wednesday.The U.S. institution plans to open graduate school classes at the Songdo Global University Campus in the Incheon FEZ starting i
July 13, 2011
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SK Innovation given green light to sell Brazil venture
The Brazilian government approved the sale of SK Innovation’s Brazilian subsidiary to Denmark’s Maersk Oil, the Korean refiner announced Wednesday.The deal, which the company plans to close within one month, was first signed with the Danish firm in December and will see SK Innovation handing over its Brazilian subsidiary, SK do Brasil, to Maersk Oil for $2.4 billion.SK do Brasil was established in
July 13, 2011
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OPEC sees slower growth in 2012 oil demand
July 13, 2011
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China’s economic growth slows to 9.5%
China’s economy grew at a slower pace last quarter, a moderation that may ease inflation pressures in the world’s second-biggest economy. Gross domestic product expanded 9.5 percent from a year earlier, the statistics bureau said in Beijing Wednesday, after a 9.7 percent gain in the first quarter. That compared with the median 9.3 percent estimate in a Bloomberg News survey of 18 economists. Indus
July 13, 2011
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IMF urges Italy to take ‘decisive’ action on deficit
WASHINGTON (AFP) ― The International Monetary Fund urged Rome to be decisive on cutting its deficit Tuesday as investors dumped Italian bonds and the country’s leaders rushed to pass a massive austerity plan.Amid worries that Italy could follow Greece and Portugal into a financial maelstrom and require a bailout, the IMF praised Italy’s reform program that has already cut its current deficit to 4.
July 13, 2011
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Chinese secure first top post at IMF
July 13, 2011
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Korea unveils action plans to cut emissions
Government aims to slash transportation emissions to 34 percent below projected levelsKorea outlined action plans to tackle climate change on Tuesday, breaking down reduction targets for high-emitting sectors in the medium term.The pan-governmental plan was devised to put the country’s low-carbon, green growth initiatives in motion, which President Lee Myung-bak launched in 2009 with a goal of cut
July 12, 2011