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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US 'incredibly concerned' about suspected NK-Iran military ties
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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Contentious grain bill put directly to plenary meeting for vote
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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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Seoul says Fu Bao loan 'not going to happen'
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Yuhan-Kimberly launches new diapers
Yuhan-Kimberly, Korea’s leading hygiene products manufacturer, launched Huggies Premier diapers on Monday, replacing its main diaper product line Huggies Gold after 13 years. Yuhan-Kimberly is a joint venture of Korea’s Yuhan Corp. and Kimberly-Clark Corp. established in 1970. The company has maintained its place at the top of Korea’s diaper market for 28 years with the Huggies brand. According to
April 20, 2011
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‘Auto market shifts to favor Korea, Europe’
Hyundai and Kia overseas sales rise as Japanese rivals suffer from worst disasterThe series of disasters that struck Japan in March could bring significant changes to the world’s automotive industry, including its direction for eco-friendly vehicles.In a recent report, the U.S.-based market research firm Frost and Sullivan projected that the earthquake could not only open opportunities for carmake
April 20, 2011
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Automakers plan expansion into China
Global carmakers unveil ambitious China expansion plans as they battle back from tsunamiSHANGHAI (AP) ― Global automakers unveiled ambitious expansion plans for China on Tuesday, targeting the country’s newly prosperous drivers as the industry struggles to recover from Japan’s tsunami.Nissan Motor Co. plans to raise sales by about 15 percent to 1.15 million vehicles this year, said CEO Carlos Ghos
April 20, 2011
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Samsung vs. Apple in copyright showdown
Two of the world’s most prominent IT giants Samsung Electronics and Apple Inc. are poised to fight it out over patent rights.Shortly after Apple said it had sued Samsung for “blatantly copying” its products, Samsung Electronics fired back Samsung would be filing a suit against Apple for copying its communications technology. “We are definitely considering a lawsuit,” said Kim Nam-yong, a spokesman
April 19, 2011
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S. Korea aims for top 10 in quality competitiveness by 2015: minister
South Korea aims to reach the top 10 in quality competitiveness in the world by 2015 as part of its ongoing effort to boost its growth potential, the government said Tuesday.The Ministry of Knowledge Economy said South Korea ranked 22nd among the 57 countries checked last year in terms of quality competitiveness in the manufacturing sector, mainly because the general corporate atmosphere was focus
April 19, 2011
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GS EPS to build ‘green’ LNG plant
GS Electric and Power Services, a power subsidiary under GS Group, said Tuesday that it will build a “green” high-efficiency liquefied natural gas combined cycle power plant in Dangjin, South Chungcheong Province. The firm spent 460 billion won ($420 million) for the plant which will be completed by August 2013. GS EPS currently operates two other power facilities there.The firm held a groundbreak
April 19, 2011
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Global firms launch new cars at Shanghai show
HONG KONG (Yonhap News) ― China’s largest international auto show kicked off on Tuesday with major product launches by global carmakers, showing the growing significance of the world’s most populous country for the auto industry.Auto Shanghai 2011 began its 10-day run with press days scheduled for the first two days in the booming metropolis. The event will be open to the public from Thursday to A
April 19, 2011
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LG Chem, Samsung Engineering post Q1 gains
LG Group’s chemicals and electronics components maker posted first quarter sales of nearly 5.5 trillion won, a 24.1 percent increase compared to the same period last year. According to LG Chem’s first quarter figures released Tuesday, the company’s operating profits rose 28 percent to 835.3 billion won ($765 million), while net profits came in at 656.6 billion won, rising 26.8 percent.Much of the
April 19, 2011
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SKT claims success in tests of new telecoms technology
BUNDANG, Gyeonggi Province ― SK Telecom, the country’s top mobile carrier, tested the fourth generation telecommunications technology Long Term Evolution for the first time at its Bundang office on Tuesday.Aiming to commercialize the LTE technology in Seoul by July, the company will offer next generation telecommunications services which come with upgraded speed and picture quality.It will then ma
April 19, 2011
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LG Display chief eyes 3-D supremacy
Kwon shows confidence in company’s 70 percent market share by year-endLG Display’s chief executive Kwon Young-soo was unperturbed by the company’s lackluster first quarter performance, saying he was certain of the global dominance by year’s end of his firm’s new 3-D panel technology, the film-type patterned retarder. “I don’t believe our goal to achieve as much as 70 percent market share in the gl
April 19, 2011
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Samsung Engineering Q1 net jumps 74.3 pct
Samsung Engineering Co., South Korea's largest industrial plant builder, said Tuesday that its net profit jumped 74.3 percent in the first quarter from a year ago on reduced costs. Net profit came to 121.4 billion won (US$110.7 million) in the January-March period, compared with 69.6 billion won during the same period in 2010, Samsung Engineering said in a regulatory filing. Sales rose 67.1 percen
April 19, 2011
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World-OKTA pledges to offer 10,000 internships in foreign countries
The largest association of overseas-based Korean business leaders put forward an ambitious vision Monday to offer overseas internship positions for 10,000 young Korean adults as it celebrated its 30th anniversary with a pledge to expand the "business territory" of their homeland. The World Federation of Overseas Korean Traders Association, or World-OKTA, also vowed to take advantage of its deep-
April 18, 2011
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Franchisers to get leg-up in overseas expansion
South Korea is poised to lend greater support for the overseas expansion of 10 local franchise chains, including well-known names such as Mr. Pizza and Cafe Bene to help bolster service-related exports, the Ministry of Knowledge Economy said Monday. “Due to their standardized quality of products, service and stores, franchises are easy to globalize. Also, they are highly prospective exports driver
April 18, 2011
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LG Display registers quarterly loss
Flat-panel maker LG Display incurred a second-straight quarter operating loss during the January-March period on falling panel prices triggered by dormant demand, the company said in a regulatory filing Monday. Operating deficit for the first quarter of this year stood at 239.2 billion won ($219.2 million).The figure was narrowed from 387 billion won in the fourth quarter of 2010, but industry wat
April 18, 2011
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S. Korea not to raise FMD alert level despite new outbreak
South Korea will not raise its present foot-and-mouth disease alert level despite a fresh outbreak in the southeastern part of the country over the weekend, a government official said Monday.Deputy Farm Minister Lee Sang-kil said animals at the small farm in Yeongcheon, 344 kilometers from Seoul, were affected by the “type O” FMD virus that had devastated South Korea since November.The farm owner
April 18, 2011
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Renault, traffic body sign road safety pact
Renault Samsung Motors Co. and the Road Traffic Authority formed a partnership to collaborate on promoting road safety for children on Monday.Under the agreement, the carmaker and the state-run organization will collaborate in educating children about traffic safety, and establish a system for cooperation and mutual support in reducing traffic accidents involving children, Renault Samsung said.The
April 18, 2011
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Summer internship at Hyundai Motor
Hyundai Motor Co. is hiring interns for the summer.The internship is open to university students who are scheduled to graduate in February 2012.The company is receiving applications through its public relations homepage at pr.hyundai.com from Tuesday until May 2. Successful applicants will work for five weeks at the company’s local and overseas operations during the summer vacation. The company wi
April 18, 2011
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Hyundai Heavy’s deals rise to $9.2 billion
Hyundai Heavy Industries, the world’s largest shipyard, announced Monday that it won contracts for five vessels, worth 900 billion won ($826 million), pushing up the value of contracts won, including those awarded to its subsidiary Hyundai Samho Heavy Industries Co., this year to $9.2 billion.The figure accumulated so far this year is about 46 percent of the $19.8 billion target the company has se
April 18, 2011
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GM Korea road tests Volt electric car
GM Korea Co., the South Korean arm of U.S.-based GM, began testing its electric vehicle the Chevrolet Volt in Korea on the road on Monday.The week-long test drive will be conducted by the U.S. Embassy to Korea, with a specialist engineer from GM Korea.The vehicle will be used by the U.S. Embassy for official functions for one week until April 24. The Volt being tested by the embassy will also be u
April 18, 2011
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SK oil refiner unit seeks mutual growth overseas
Large-scale maintenance project in Vietnam involves three SK Energy Korean subcontractorsSK Energy, the refining unit under the nation’s largest oil refiner SK Innovation, said Monday that it helped its subcontractors launch an overseas project in Vietnam as part of its efforts for promoting “shared growth.” Three partner firms ― JCon Corp., UBEC Inc and Daechang HRSG Corp. ― will carry out the re
April 18, 2011