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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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Luxury sales grow 27 percent in March
Sales of luxury fashion goods at leading department stores jumped 27 percent on-year in March on retailers’ aggressive expansion and boosted marketing, the Ministry of Knowledge Economy said Thursday. Foods sales at major discount outlets and department stores also rose due to their increased demand and inflation, the ministry said. The proportion of luxury products sales at top department store c
April 14, 2011
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Builders face industry-wide credit crunch
Construction companies fear ‘chain reaction’ of bankruptciesMore mid-sized construction firms are facing business failure as their financing environment deteriorates due to soured project finance loans.Their financing opportunities, such as issuing commercial papers or corporate bonds, are increasingly becoming difficult after industry leaders such as Chinhung International and LIG Engineering & C
April 14, 2011
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Korea to beef up safety of KTX train service
The government will recruit more tech experts and personnel in a bid to beef up the safety of its high-speed train service that has suffered a series of accidents over the past few months, the Transportation Ministry said.The ministry added that the government will operate a safety-management unit independently for the KTX high-speed train service. It will also shorten the period of replacing majo
April 14, 2011
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Hyun named honorary Brazil counselor
Hyundai Group Chairwoman Hyun Jeong-eun has been named honorary counselor for Brazil, the company said Thursday.As a civilian counselor, Hyun said she hopes to play a critical role in facilitating exchange between the two nations during the appointment ceremony at Brazilian Counselor Edmundo Sussumu Fujita’s home in Seoul. Hyun Jeong-eun“We are seeing a surge in all sectors of trade and exchange w
April 14, 2011
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MBC cuts off SkyLife from HD content
The terrestrial broadcaster MBC stopped providing KT SkyLife with high-definition content Thursday, as the two failed to narrow differences over fees for re-broadcasting MBC programs.KT SkyLife is a satellite broadcaster affiliated to the country’s largest fixed-line telecom services provider KT Corp.Following MBC’s move, SkyLife is now broadcasting standard-definition MBC programs for its 620,000
April 14, 2011
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Telecoms irked by free text plan
Regulator under fire for not consulting industry playersThe government’s latest hints that it might try to offer text messaging for free were met with fierce protests from local telecom operators, according to industry watchers. KT Corp., SK Telecom and LG Uplus all appeared to be upset by recent remarks from Choi See-joong, chairman of the Korea Communications Commission, who told lawmakers Wedne
April 14, 2011
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Apple’s white iPhone coming in ‘weeks’
Apple Inc. will begin selling a white model of the iPhone 4 in the next few weeks after a 10- month delay, according to three people familiar with the plans. The new version will be available from AT&T Inc. and Verizon Wireless by the end of April, said one of the people, who asked not to be identified because the plans aren’t public. The release was stalled as Apple resolved manufacturing challen
April 14, 2011
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Hyundai to offer auto finance in U.K., Brazil
Hyundai Motor Group chairman Chung Mong-koo (right) greets Banca Sandanter’s chairman Emilio Botin at the carmaker’s office in Seoul on Wednesday. (Hyundai Motor Group)Hyundai Motor Group will set up auto-financing firms in Brazil and the U.K. in collaboration with Spain-based Banco Santander.Banco Santader is Europe’s largest commercial bank with more than 86 million customers. Hyundai Motor chai
April 13, 2011
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Naver, Daum consider suing Google over mobile search
Korea’s leading portals Naver and Daum, said they would file a complaint to the Fair Trade Commission against Google as early as this week.“We’ve been on the same page on the issue and we’re currently considering asking state authorities to conduct an investigation against Google,” said Daum’s spokeswoman Jung Ji-eun. “We will make the final call (whether to submit the complaint) as early as this
April 13, 2011
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Foreign carmakers make paltry donations
Foreign carmakers made relatively small donations to social causes despite massive improvements in financial figures, data showed Wednesday.According to regulatory filings from the country’s top three foreign carmakers ― BMW Korea, Mercedes-Benz Korea and Audi Volkswagen Korea ― their sales and profits saw significant improvements from 2009.BMW Korea was the top-performing foreign carmaker last ye
April 13, 2011
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Online luxury shops challenge retail giants in growing market
The introduction of new online retail channels is expected to expand the size of the local luxury retail industry appealing to an increasing number of younger shoppers with affordable price and convenience, industry watchers said. Yet they face fierce competition from the market-dominant retail giants and are to overcome credibility concerns typically associated with e-commerce in the country. Wit
April 13, 2011
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Samsung to offer W610b support to vendors
Korea’s biggest conglomerate issues public pledge aiming to prop up partner firmsSamsung Group on Wednesday pledged a number of measures including a 610 billion won ($558.7 million) fund, patent rights and improved payment systems to help promote growth in its smaller vendors and suppliers. Samsung signed an agreement at its Seocho headquarters outlining these and other efforts to become the secon
April 13, 2011
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IEA warns oil prices could hit growth
'Oil prices above $100 hurt global economy, demand outlook stable'The International Energy Agency maintained its outlook for global oil demand in 2011, while warning that prices above $100 a barrel are starting to hurt the global economy. Worldwide oil consumption will increase by 1.4 million barrels a day, or 1.6 percent, this year to average 89.4 million a day, the Paris-based adviser said Tuesd
April 13, 2011
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Kim named new Korea Post head
Korea Post named Kim Myong-ryong, 54, the organization’s former director of strategy and management, its new president, the Ministry of Knowledge Economy said Monday. Kim Myong-ryongKim is an experienced public administrator whose career background covers multiple positions at the knowledge economy ministry ― formerly Ministry of Information and Communication ― and Korea Post.Born in Seoul, Kim e
April 12, 2011
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Shinsegae upscale outlet faces curbs
Shinsegae Corp.’s new premium outlet in Paju, north of Seoul, could face government restrictions after smaller retailers protested that it hurts their businesses.The Small and Medium Business Administration launched an inquiry on Monday to determine the scale of damage sustained by small- and medium-sized discount outlets in the area since Shinsegae Chelsea opened on March 18.The smaller stores cl
April 12, 2011
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Hyundai begins work on 3rd blast furnace
Hyundai Motor Group’s steelmaker Hyundai Steel broke ground for the third blast furnace at its integrated steelworks in Dangjin, South Chungcheong Province on Tuesday.The company is injecting 3.26 trillion won ($2.89 billion) into the project, which is scheduled for completion in September 2013.The furnace will have an annual production capacity of 4 million metric tons, pushing the facility’s out
April 12, 2011
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First Korean 3-D animation to be released in Canada
Korea’s first 3-D animation movie “Bolts & Blip” will be released on DVD in Canada later this year, its producer Redrover said.The company signed a copyright deal with Canadian home entertainment group Nelvana last week at MIPTV 2011, the world’s largest entertainment content market in Cannes, France. Set on the moon in 2080, the comedy follows the adventures of two misfit robots, Bolts and Blip.I
April 12, 2011
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Apple to stay ahead in tablet boom: Gartner
April 12, 2011
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Cyworld back in the game with robust profit
Korea’s SNS pioneer plans to regain lost glory with mobile apps, acornsCyworld, in many ways a Korean pioneer in social networking services, is back with a vengeance this year on the back of robust “acorn” sales and closer collaboration with up-and-coming technology. Acorn ― “dotori” in Korean ― is the unit of virtual money that Cyworld users spend on all sorts of items for decorating and personal
April 12, 2011
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U.S. fast-food chains bet on India to drive growth
April 12, 2011