Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Machinery orders drop in Japan
Japan’s machinery orders fell for the first time in four months in April, an indication that companies are reluctant to spend after the March 11 earthquake and tsunami. Factory orders declined 3.3 percent in April from March, when they rose 1 percent, the Cabinet Office said Monday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to increase 1.7 percent, ac
June 13, 2011
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SKT short of savvy in overseas markets
Unsuccessful ventures eat into mobile carrier’s valueSK Telecom, the nation’s No.1 wireless service provider, has proved to be far from savvy when it comes to overseas ventures. After unsuccessfully knocking on the doors of numerous overseas markets including the U.S. and China for six years, the company was forced to call it a day. The failure was such that former SKT chief executive Chung Man-wo
June 12, 2011
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Hyundai Heavy to build world’s 1st offshore LNG storage unit
Hyundai Heavy Industries announced Sunday that it would build the world’s first floating storage and re-gasification unit for liquefied natural gas.A floating storage and re-gasification unit or FSRU is a vessel for storing liquefied natural gas at sea. It is connected to facilities on land by pipelines, through which re-gasified LNG is transferred.According to the company, it was awarded a $500 m
June 12, 2011
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Hyundai family eyeing Hynix Semiconductor
Hyundai powerhouses are reportedly interested in acquiring the 15 percent stake in Hynix Semiconductor that will be put up for sale later this month, financial sources said on Sunday. Among them, Hyundai Heavy Industries is seen as one of the most viable candidates, industry sources said. The biggest motivation for the company is its undying desire to gather all the Hyundai affiliates under one ro
June 12, 2011
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Shares likely to be range-bound
South Korean stocks are expected to trade in a narrow range this as investors step to the sidelines amid a lack of upward momentum and signs of a slowdown in the U.S. economy, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed last week at 2,046.67, down 3.16 percent from a week earlier.The KOSPI got off to a weak start at the beginning of the weak, as downbeat j
June 12, 2011
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Korea to pull out all stops against inflation
The government plans to make all-out efforts to stem growing inflationary pressure as South Korea faces potential difficulties in taming inflation in the second half, officials said Sunday.Finance Minister Bahk Jae-wan presided over a meeting with ministers on Friday to discuss ways to stabilize consumer prices where he suggested 22 policy steps, including the stable management of macroeconomic fa
June 12, 2011
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Seoul mulls public funds to rescue savings banks
South Korea is mulling injecting public funds to rescue ailing local savings banks in an effort to overhaul the troubled sector in the second half, sources said Sunday.The government is seeking to put seven teetering savings banks up for sale this year, whose operations have been suspended since January due to a pile-up in soured construction loans and weak capital positions.The Financial Services
June 12, 2011
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Emirates passengers slam response to delay
Emirates Airlines is in hot water over its response to a delayed flight from Incheon to Dubai.While the flight was delayed due to unforeseen circumstances, passengers for the flight complained that the company’s response was inefficient and unprofessional. According to one passenger, the company did not make a public announcement explaining the situation, and the explanations provided at the airpo
June 12, 2011
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U.S. urges Korea to press on Iran sanctions
The United States urged South Korea to press on Iran sanctions during a meeting of senior financial officials from the two countries Friday, a Seoul official said.Undersecretary David Cohen of the U.S. Treasury Department met Deputy Minister Choi Jong-ku of the South Korean Finance Ministry at the ministry building in Gwacheon, south of Seoul.The United States, along with the International Atomic
June 10, 2011
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Korea strives to work ‘smarter’
Mobile devices, flextime, telecommuting boost workplace efficiency, flexibility“Work smarter, not harder.” This catchphrase has finally caught on in Korean companies as they pursue better ways of working to fit this all-connected world.An increasing number of businesses are embracing the “smart work” policy including flextime, telecommuting, remote work, virtual meetings and freer office environme
June 10, 2011
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Watchdog to toughen antitrust probe on 56 major conglomerates
The Fair Trade Commission plans to tighten its investigation of the country’s 56 largest companies to see whether they have engaged in anticompetitive practices, officials said Friday.The decision was made based on reports and tips the watchdog received on the conglomerates’ ongoing irregularities, such as forcing price cuts and signing unfair deals, they added.Subject to the government’s mutual g
June 10, 2011
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Hyundai joins European automakers association
Hyundai Motor Co., Korea’s top automaker, has become a full member of an industry lobby of European carmakers, a move which company officials said would help boost Hyundai’s image and sales in the region.Hyundai announced Friday that the company became the 17th member of the European Automobile Manufacturers’ Association, better known as the ACEA. A sales employee (left) explains car specification
June 10, 2011
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Short-term stagflation looms large: economists
Finance minister urges all-out efforts to curb pricesThe government’s inflation fight appears to be losing its grip on energy, service and staple food prices set to rise further on uncertainties abroad.The inter-ministerial efforts to fight food inflation such as cutting food tariff and increasing crop supplies in the past few months have largely been offset by increase in import costs.Public util
June 10, 2011
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Korea to support hydrogen steelmaking
The government will provide 150 billion won ($138 million) in support of developing the hydrogen reduction steel-making method, the Ministry of Knowledge Economy revealed Thursday.The funds, which the ministry estimates will cover 54 percent of development costs, will be provided from 2012 if the studies under way now show the project to be feasible, the ministry said. In hydrogen reduction steel
June 9, 2011
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Diageo to host bartending contest
Diageo Korea, the local unit of the U.K.-based drinks group, said it will hold the regional final of its international bartending competition in Seoul on June 21. Since January, about 200 Koreans have been vying for a ticket to the annual World Class 2011 slated for July 11-14 in New Delhi, India, the host said. The final will bring together 10 qualifiers from four heats. The local contestants wil
June 9, 2011
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KEPCO to honor scholars for research
Korea Electric Power Corp. said on Thursday it plans to award a prize to two Seoul National University scholars for their achievement in the local energy industry. Kim Tai-yoo and Park Jong-keun became the first winners for the KEPCO Research Grand Prix, which the state-run utility launched this year to commemorate the 50th anniversary of its foundation. Kim was selected for “his outstanding resea
June 9, 2011
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SKT ties up with Nautilus Hyosung
SK Telecom said Thursday it signed an agreement with Nautilus Hyosung Inc. to work together on the mobile carrier’s smart finance business project.The country’s leading mobile carrier said that it formed a partnership with Korea’ top automatic teller machine company to build smart branches.Smart branch is a mini branch service that uses SKT’s information and communication technology to offer vario
June 9, 2011
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Carriers move into mobile messenger business
Mobile carriers are moving into the mobile messenger field after wrestling with the surging popularity of existing mobile messengers which they claim have jammed networks and snatched away data fees.KT Corp., the country’s largest fixed-line service operator, released its own communication tool called “olleh talk” on Thursday.SK Telecom is also looking into introducing a mobile chat service as ear
June 9, 2011
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Samsung staff brace for corruption crackdown
Chairman Lee says scandal prevalent throughout conglomerateEmployees at Samsung, the nation’s largest industrial group, are expected to face a conglomerate-wide shakeup as owner Lee Kun-hee was unable to shake his fury over the latest corruption scandal at a Samsung affiliate. “It seems that corruption is prevalent in all parts of Samsung,” was what Lee said on Thursday, a day after he said the co
June 9, 2011
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POSCO launches campaign to become ‘loved company’
POSCO and its subsidiaries will aim to become “loved companies,” the companies announced in a ceremony Thursday.According to POSCO’s agenda, a loved company is one that satisfies all concerned parties including society, employees, clients, investors, suppliers and environment, while at the same time sharing cultural programs and company values with them. “The way forward for POSCO is (to become) a
June 9, 2011