Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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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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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Overseas investment fair kicks off
The Korea Overseas Investment Fair 2011 kicked off Thursday in Seoul to provide Korean companies with comprehensive information on foreign investment, according to the Korea Trade-Investment Promotion Agency, its organizer. In the two-day event at COEX in southern Seoul, officials from 29 countries in Europe, Asia, Africa, the Middle East and Latin America had one-on-one meetings and discussed bus
May 19, 2011
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LS Cable and System develops power cable for airplanes
LS Cable and System, the country’s largest producer of cables and wires, announced Thursday that it has developed a cable for supplying power to airplanes, a first time for Korea. The cable was supplied to Incheon International Airport Corp. According to the company, the new cable is capable of carrying electrical currents of up to 400 hertz frequency, making the new product compatible with electr
May 19, 2011
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NHN posts solid figures in Q1
NHN Corp., an Internet content service operator, announced Thursday it recorded 517.3 billion won ($4.76 million) in operating revenue and 168.5 billion won in operating profit for the first quarter, both figures profiting from an increase in search advertisements.The company, well-known for its search engine Naver and online game site Hangame, said its operating revenue and operating profit surge
May 19, 2011
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Neowiz Games records highest quarterly earnings
Neowiz Games Corp., a Korean online game publisher, said Wednesday it reached 147.7 billion won ($136 million) in sales and 33.8 billion won in operating profit in the first quarter, breaking its quarterly record due to sharply rising overseas sales.The company, well-known for its game portal Pmang, expanded overseas sales by 141 percent ― taking up 48 percent of its overall sales ― compared to th
May 18, 2011
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KEPCO wins $46m power cable project in Dominican Republic
Korea Electric Power Corp., the state-run energy company, said Wednesday that it has won a $46 million order from the Dominican Republic to install power transmission lines in the Caribbean island nation.KEPCO said it signed the deal with the Dominican government on Tuesday in Santo Domingo, the country’s capital, to replace 400 kilometers of old power cables in three major cities there by May 201
May 18, 2011
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GS chairman Huh highlights challenge, innovation and practice
GS Group chairman Huh Chang-soo emphasized the value of challenge, innovation and practice at a forum with executives of the conglomerate’s affiliates Wednesday. The Value Creation Forum was created last year to “uplift and settle the significance of innovation and change” in the corporate culture by sharing successful cases of innovation management among affiliates, GS said. About 400 officials f
May 18, 2011
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Seoul-Busan KTX line cuts air travel to Gyeongsang
The number of people traveling the Seoul-Ulsan air route fell 39.4 percent since the last section of the Seoul-Busan high-speed railway was opened, the Ministry of Land, Transport and Maritime Affairs said Wednesday.The Seoul-Busan line connected the East Daegu-Busan line to the Seoul-East Daegu line that was completed earlier, and KTX high-speed trains began operating on the route on Nov. 1.Accor
May 18, 2011
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[Meet the CEO] Fuji Xerox aims to sell 100,000 printers
Company increases Korean sales target for this year to 80 billion wonWith a goal of selling 1 million printers in the Asia-Pacific region, Fuji Xerox Printers Korea plans on introducing its products to 100,000 people here this year.Hwang Yoo-chun, chief executive officer of the company, said that it has fixed its target at 100,000 printers in Korea alone, as well as 500,000 printers in China.“We’v
May 18, 2011
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Businesses fire up anti-smoking efforts
Companies use incentives, anti-smoking aids and negative evaluation to help smokers quitKeeping abreast with growing anti-smoking campaigns, major companies are stepping up efforts to drive cigarette smoke from the workplace. Some big companies use a “carrot and stick” policy, such as offering incentives, anti-smoking aids and even negative evaluation, to help employees quit smoking.The world’s fo
May 18, 2011
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Korea grants permanent residency to seven European businessmen
Korea granted permanent residency to seven European entrepreneurs on Tuesday, acknowledging their contribution to the country’s economic growth. The recipients have lived here for two to 13 years largely working for European investment firms and were recommended by the European Union Chamber of Commerce in Korea. The list includes Friedrich Stockinger, president of Trumpf Korea; Holger R. Doerre,
May 17, 2011
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Lotte Mart reignites pricing debate with W7,000 chicken
Lotte Mart has begun selling bargain chicken priced at 7,000 won ($6.42), reigniting controversy over fair competition between large retailers and smaller eateries.The black garlic flavored chicken has been on sale since Thursday at the retailer’s 88 stores across the country at a price 2,000 won cheaper than its earlier chicken release in December. As sales of its earlier product, dubbed ultra ch
May 17, 2011
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GS Caltex extends retirement, adopts peak salary system
The country’s second largest refiner GS Caltex Co. announced Tuesday that it will raise the retirement age by two years and apply peak salary system from next year.Under the agreement GS Caltex reached with its labor union last month, the retirement age will be raised from 58 to 60 years of age from Jan. 1, 2012. With the peak salary system taking effect on the same date, the base pay for workers
May 17, 2011
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The Macallan looks to revive chemistry with art
The Macallan premium single malt whisky from Speyside, Scotland, is returning to Korea with a new special edition, aiming to generate chemistry between whisky and the legendary photographer Albert Watson.For the biennial “Master of Photography” project, the Scottish distillery selects an artist to portray the craft of whisky-making through photography. Photographer Albert WatsonFollowing the firs
May 17, 2011
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What’s your favorite app?
Applications related to media, games, lifestyles most profitableChoi Hyun-young, a wedding planner by profession, says life has become so much easier since downloading Awesome Note on her smartphone. The application ― which is basically an online organizer and note-taker ― helps Choi keep her hectic schedule intact with customized folders for work and her personal life, under which she keeps and m
May 17, 2011
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EU clears Portugal bailout
Ministers sign off on $110b in rescue loans, continue to wrestle over GreeceBRUSSELS (AP) ― European governments insisted on handing out bailouts to fight the debt crisis on Monday, when they signed off on 78 billion euros ($110 billion) in loans to Portugal and debated giving Greece a second rescue package to avoid a disastrous default.Most of the terms for Portugal’s package had emerged over the
May 17, 2011
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Forbes ranks Lotte Shopping as world’s 6th largest retailer
Lotte Shopping, Korea’s leading retail group, said Monday that it has been ranked the sixth-largest retailer worldwide by Forbes Magazine, joining the ranks of global top sellers.The Korean company runs chains of Lotte Department Store, Lotte Mart and Lotte Super. Tied with Chile’s Falabella, it ranked higher than U.S. giants such as Sears and Nordstrom and Japan’s Isetan Mitsukoshi.Forbes has bee
May 16, 2011
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Regulator unveils support measures for new mobile service operators
The Korea Communications Commission unveiled support measures Monday for mobile virtual network operators so that they can release telecom services that are 20 percent cheaper than what is now available.The state telecom regulator said SK Telecom, the country’s top mobile carrier, will provide the MVNOs with mobile phones until June 2012.It also said SKT will also help the MVNOs, which plan to lau
May 16, 2011
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SMEs create more jobs than big firms
The number of people working at small- and medium-sized enterprises increased by 3.47 million between 1999 and 2009, industry data showed Sunday.Under local regulations, SMEs are defined as companies with less than 1,000 employees and total assets less than 500 billion won ($458 million), and companies that meet the requirements but are affiliated to large companies are excluded from the category.
May 16, 2011
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Samsung phones stay on top of U.S. market
Global mobile phone market gets significant boost by burgeoning demand for smartphonesSamsung Electronics, the world’s second-largest phone maker, has held the biggest U.S. market share for 11 straight quarters anchoring its position as a top seller in the region, according to market research data.Strategy Analytics on Monday said Samsung’s market share stood at 27.4 percent after selling 12.6 mil
May 16, 2011
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Six out of 10 happy to work longer for less: KCCI survey
Six out of 10 salaried workers are willing to apply for the salary peak system to stay employed longer, the Korea Chamber of Commerce and Industry said on Monday. The salary peak system provides older workers with an opportunity to work past their retirement age, but for a smaller salary once their “peak” has passed. A survey taken by the chamber showed that out of 353 salaried workers, almost 60
May 16, 2011