Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Korea enters full election mode
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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Koreans still favor instant coffee fix
Although the country’s thriving coffee market has stoked demand for espresso and drip coffee in recent years, instant coffee remains Korea’s preferred drink, a recent survey showed. Last year, Koreans consumed 22.8 billion cups of coffee collectively, according to the survey by Nielson Korea and Dongsuh Foods Corp., the top local instant coffee maker. That translates as 452 cups for every Korean o
June 6, 2011
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POSCO to begin work on magnesium smelting plant
POSCO will begin work on its first magnesium smelting plant on Friday.The plant, to be located within an industrial complex in Gangneung, Gangwon Province, is scheduled for completion in June 2012. Once complete, the plant will be capable of producing 10,000 metric tons of magnesium ingots on an annual basis, reducing imports by an estimated 35 billion won ($32 million) each year.According to indu
June 6, 2011
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More firms plow money into solar energy
Samsung SDI, LG Chem, Hanwha participate in solar power projectsAn increasing number of firms are betting on solar energy projects as solar power is figured to be one of the fastest-rising new growth engines in the country.Large businesses, such as Samsung SDI, LG Chemical, Hanwha and SK subsidiary SKC, are gearing up to increase production to prepare for the rising demand for solar energy.Accordi
June 6, 2011
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Nexon, Bluehole Studio set up at L.A. game trade show
The Electronic Entertainment Expo 2011, the world’s largest game trade show participated in by local players Nexon and Bluehole Studio, will take place at the Los Angeles Convention Center from June 7-9.Nexon and Bluehole Studio will set up their own booths throughout the exhibition to make public their line-up of online games.Nexon, which took part in the show for the first time last year, will f
June 6, 2011
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China shops for Latin American oil, food, minerals
CARACAS, Venezuela (AP) ― Latin America is blessed with a wealth of natural resources such as oil, copper and soy, and seeks investment and loans to capitalize on them. China needs the commodities to keep its economy growing and has about $3 trillion in reserves to burn.Those interests have come together in a burgeoning and unorthodox partnership, as China lends and invests tens of billions of dol
June 6, 2011
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FBI partner attacked by hackers, passwords taken
People walk by Sony Building in Tokyo's Ginza shopping district in Tokyo. Another massive data breach at Sony has left hackers exulting, customers steaming and security experts questioning why basic fixes haven't been made to the company's stricken cybersecurity program. (AP-Yonhap News)LONDON (AP) _ Nearly 180 passwords belonging to members of an Atlanta-based FBI partner organization have been s
June 6, 2011
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Chrysler under control of Fiat
NEW YORK (AFP) ― Iconic American carmaker Chrysler has officially come under the Italian flag with Fiat announcing it had obtained a majority share after buying out the U.S. government’s stake.The takeover comes two years after Fiat took a 20 percent stake in exchange for sharing its technology and providing trusted leadership as Chrysler emerged from a government-backed bankruptcy.President Barac
June 5, 2011
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Greek workers in new protest against cuts
ATHENS (AFP) ― Hundreds of people from Greece’s two main private and public sector unions protested in central Athens Saturday to condemn the government’s new bailout deal with international lenders.Around 1,500 people marched to the capital’s main Syntagma Square, in front of the Greek parliament, with banners proclaiming: “No to the new memorandum” and “Resist!”Protesters from a communist-backed
June 5, 2011
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IMF frees up $225m for Iceland
WASHINGTON (AFP) ― The International Monetary Fund said Friday it had okayed a sixth tranche of $225 million in financing for Iceland, citing Reykjavik’s “impressive progress” in post-crisis restructuring.The IMF said Iceland’s economy would likely return to growth this year, but still faced risks from inflationary pressures, delays in investment projects, joblessness and slow private sector debt
June 5, 2011
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Kia pushes U.S. expansion as market-share gain leads industry
Kia Motors Corp., South Korea’s second-largest automaker, announced plans this week to raise output at its Georgia plant by 20 percent, underscoring the U.S. industry’s biggest market-share gain this year.Kia, an affiliate of Hyundai Motor Co., raised its U.S. share 0.8 percentage point to 3.8 percent through May, topping gains of 0.7 point for General Motors Co. and 0.6 point for Hyundai, accordi
June 4, 2011
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Kumho Petrochem chief grilled in slush fund case
Kumho Petrochemical Chairman Park Chan-koo was on Friday summoned by prosecutors over allegations that he created slush funds and gained illegal profit on the back of exclusive, internal information.The prosecution believes the slush funds may amount to up to 30 billion won ($27.7 million).Park, however, denied any wrongdoing, saying he would “clear everything” during the questioning session. Park
June 3, 2011
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Cabinet submits corrected U.S. FTA bill to parliament
The government approved an updated ratification bill for the Korea-U.S. free trade agreement after fixing translation errors and submitted it to the National Assembly to seek parliamentary approval.The agreement had been retracted in April over multiple translation errors in the Korean version. Prime Minister Kim Hwang-sik urged the early parliamentary approval of the deal.“The KORUS FTA is an ine
June 3, 2011
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Samsung's new Galaxy Tab to go on sale in U.S. next week
Samsung Electronics Co., the world's second-largest mobile phone maker, said Thursday that its new Galaxy Tab tablet computer will hit U.S. shelves next week, mounting a challenge on Apple Inc.'s iPad 2.The wireless-fidelity (Wi-Fi) version of the Galaxy Tab 10.1 will be launched on June 8 through the U.S. retailer Best Buy Co., Samsung said in a statement.The upcoming Android-based tablet, which
June 2, 2011
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CJ Group to bid for Japan’s Hayashibara
CJ Group, the country’s largest food company, is bidding to take over Japan’s biggest food-additive maker, Hayashibara, reportedly in consortium with Japanese private equity firm Unison Capital.CJ confirmed the bidding scheduled for July but declined to comment on its consortium with Unison capital.Acquiring Hayashibara is part of CJ Group’s plan to expand into amino acids and other biochemical fo
June 2, 2011
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Volvo recalls 192 cars for faulty fuel, steering systems
The Ministry of Land, Transport and Maritime Affairs announced Thursday that Volvo Cars Korea is recalling the S60 and XC90.The recall applies to 182 S60 vehicles produced between June 22, 2010 and May 18, 2011 that have faulty fuel pump controlling software that could cause the engine to be switched off while driving.Further six S60 vehicles produced between Jan. 20, 2010 and Jan. 28, 2011 found
June 2, 2011
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S-Oil to help fund child liver transplants
S-Oil Corp. said Thursday it has given funds to children in low-income families for their liver transplant surgeries.The country’s third-largest oil refiner has been supporting 26 children suffering biliary atresia since 2009 through company and employee donations. The rare symptom among infants means that bile ducts ― long tubes carrying bile for digestion ― between the liver and the small intest
June 2, 2011
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Airlines add new routes and planes
Asiana Airlines opened two new routes to Vietnam from Busan, while Korean Air announced that the Airbus A380 will go into service on June 17.On Thursday, Asiana Airlines began operating daily flights to Hanoi and Ho Chi Minh City in southern Vietnam from Busan. Asiana Airlines chief executive Yoon Young-doo (left) poses with pilots at the ceremony marking the opening of the Busan-Ho Chi Minh City
June 2, 2011
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Hyundai Heavy aims to be global top 3 robot maker
Hyundai Heavy Industries set sights Thursday on the top three spots in the booming global robot market with its new plant ready to enter full-swing production.The world’s top shipbuilder said it has remodeled and expanded existing production lines three times at its headquarter in Ulsan, a major industrial port city on the southeast coast of Korea, which began in September to meet surging demand f
June 2, 2011
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LG chief fosters creation, innovation
Koo tells staff to ceaselessly search for new opportunitiesLG Group chairman Koo Bon-moo touted the importance of creation and innovation, as the single most effective way to lead the market, the Seoul-based company said Thursday.“Constantly creating new things is the only way we can lead the markets,” Koo said at LG’s 19th session of the company’s gathering to spearhead innovative business held M
June 2, 2011
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BAT Korea sells superpremium Dunhill
British American Tobacco Korea announced Thursday that it will introduce “Dunhill SWITCH” cigarettes on the local market on June 7.The Dunhill SWITCH, which will be priced at 3,000 won ($2.8), comes in packaging with the “RELOC” inner wrapping, the company said.According to the company, which holds the patent on the inner wrapping method, RELOC is a re-sealable double cover that provides additiona
June 2, 2011