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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[Kim Seong-kon] Democracy and the future of South Korea
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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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LS Cable introduces new English name
South Korea's top wire and cable maker LS Cable Ltd. said Thursday that it has changed its English name to LS Cable & System Ltd. to reflect the company's growing businesses. Shareholders adopted the new English name on Wednesday as the new name better indicates the company's expansion into businesses that offer a package of applications, equipment, software and systems to clients, the compan
March 24, 2011
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New tablet PC battle brewing
Apple’s iPad 2 to come to Korea next month, while Samsung, LG prepare to launch new line-upA new round of tablet PC competition is heating up as major electronics makers announced plans to release their new products on Wednesday.Samsung Electronics, the world’s No. 2 handset maker, released two different sizes of the upgraded Galaxy Tab ― 8.9 inch and 10.1 inch ― while LG Electronics presented its
March 23, 2011
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Childbirth grows over 10%
Childbirth in Korea grew over 10 percent in January from a year earlier as improving economic conditions encouraged couples to have more babies, a government report showed Wednesday.According to the report by Statistics Korea, the number of babies born in January stood at 47,500, up 10.7 percent, or about 4,600 from the same month a year earlier. The January figure marked the 11th consecutive on-y
March 23, 2011
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SKT to export RFID reader technology
SK Telecom, the country’s top mobile carrier, said Wednesday it has signed a deal for the first exports of its universal subscriber identification module, which could help businesses better manage products such as liquor and pharmaceuticals.SKT said that the company and its Chinese partner Sunnada Communication Co., a leading wireless coverage solution provider in China, agreed in Beijing to sell
March 23, 2011
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Energy costs to face upward pressure: minister
Japan’s earthquake will likely exert upward pressure on energy prices over the short term as the disaster, along with unrest in Arab countries, increases market volatility, the finance minister said Wednesday.“The massive earthquake in Japan is expected to disrupt supply and demand of major energy resources over the short haul, possibly causing price fluctuations,” Finance Minister Yoon Jeung-hyun
March 23, 2011
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Shinhan Financial head vows to repair image
Shinhan Financial Group Co.’s new chairman vowed Wednesday to make all-out efforts to restore its tainted image and regain shareholder trust following last year’s high-profile management feud.Han Dong-woo was inaugurated as the chairman of Shinan Financial, replacing Ryoo Shee-yul, who had served as the acting chief of the country’s third-largest banking group by assets since October.“I will use e
March 23, 2011
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KT&G to build ginseng plant in northeast China
KT&G Corp., the nation’s largest tobacco producer, said Wednesday that it is to launch a ginseng business in the northeastern Chinese province of Jilin.Seeking to diversify its portfolio, the company has been enhancing its Oriental healthcare business, for which China is considered the world’s largest market.KT&G signed a memorandum of understanding on Tuesday with the governments of Jilin and Yan
March 23, 2011
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POSCO to support SMEs for global competitiveness
POSCO announced Wednesday that it would support local small- and medium-sized enterprises to secure competitiveness in the global market.The steelmaker formed a partnership with 28 small- and medium-sized companies to collaborate in developing each of them into a “leading midsized company of global standing” on Wednesday. SMEs that signed on to POSCO’s scheme include industrial equipment makers Se
March 23, 2011
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Tariff-free import quotas to be raised for livestock
South Korea, battling outbreaks of foot-and-mouth disease and bird flu, will increase tariff-free import quotas of breeding pigs, chickens for breeding and seed corn to ease a shortage and stabilize prices.The government boosted the quotas for breeding pigs to 5,000 from 1,850 head and to 661,000 from 461,000 for breeding chickens, the Ministry of Strategy and Finance said Wednesday. The measures
March 23, 2011
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Hyundai Heavy opposes HMM share sale plan
Hyundai Merchant Marine Co., the biggest unit of Korea’s Hyundai Group, jumped the most in almost four months in Seoul trading as opposition to a share sale plan prompted speculation it may be a takeover target.The shipping line rose by the daily limit of 15 percent limit, the biggest climb since Nov. 30, to close at 33,250 won in Seoul. The stock was the second-best performer on the KOSPI index W
March 23, 2011
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Jobs to be deposed in iTunes antitrust suit
SAN FRANCISCO (AFP) ―A federal judge has cleared the way for Apple’s ailing leader Steve Jobs to be deposed in a class-action lawsuit charging the iPod maker turned iTunes into a digital music monopoly.U.S. Magistrate Judge Howard Lloyd ruled on Monday that attorneys for the plaintiffs may question Jobs for a total of two hours, but only about an iPod update making RealNetworks digital music inope
March 23, 2011
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Steve Jobs to come back soon?
Ever since Steve Job took a medical leave from Apple in January, his health has been a major concern for Mac fans. Some even worried that he might have only a few more weeks to live.However, he demonstrated that he is still healthy by making a public appearance this week to meet a friend in Los Angeles, according to the Daily Mail. A few weeks ago, he also introduced the latest Apple product weari
March 23, 2011
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LG Display threatens to sue Samsung over 4-letter insult
Increasingly ugly bickering between Korea’s two electronics giants over 3-D TV technology now looks set to turn into a court battle.LG Display recently requested Samsung Electronics to confirm news reports that a senior Samsung executive publicly insulted LG engineers using a profanity. LG 3-D TVLG Display supplies display panels to LG Electronics. They been engaged in a heated war of words with
March 23, 2011
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Kia Motors delays exports of K5 sedan to Europe
Kia Motors Corp., South Korea's second-largest automaker, said Wednesday it has decided to delay the scheduled launch of its popular K5 passenger sedan in the European market until the second half of the year due to an undersupply. The vehicle, currently sold as the Optima in the U.S. market, was initially scheduled to be shipped to Europe in the first half of the year. "We earlier planned to
March 23, 2011
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Samsung unveils thinner tablet computers in U.S.
Samsung Electronics Co., the world's No. 2 maker of mobile phones, unveiled on Wednesday two new tablet computers aimed for the U.S. market, eying a bigger market share on Apple Inc.'s home turf with ultra-thin devices. Samsung unveiled the company's third tablet computer, the Galaxy Tab 8.9, and a U.S. version of the Galaxy Tab 10.1 during a trade show in Orlando, Florida, it said in a statemen
March 23, 2011
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Japanese fishery imports drop
Korean imports of Japanese fishery products have dropped in the past week due to consumer concerns over their possible contamination with radiation and disruptions in supply in the neighboring country, the customs office said Tuesday.Before the 9.0-magnitude quake struck Japan on March 11, Korea’s daily weekday imports of fishery products from the country averaged $3.4 million, according to the Ko
March 22, 2011
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Property slump hits mid-sized builders
Korea’s mid-size builders have been dogged by severe financial problems due to a prolonged slump in the local housing market, a trade association said Tuesday. Over a quarter of the top 100 local builders, including LIG E&C Co., were put under a workout program or court receivership as of Tuesday, according to the Construction Association of Korea.The biggest reason for their cash shortages is a p
March 22, 2011
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Hyundai supports Meister school system
Hyundai Motor Co. will hire up to 1,000 Meister high school graduates over a 10-year period starting next year.The plans were revealed in a memorandum of understanding the carmaker signed with the Ministry of Education, Science and Technology to collaborate on related issues on Tuesday. Introduced last year, Meister high schools are high-quality vocational schools designed to diversify education a
March 22, 2011
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KORES buys stake in Indonesian mine
A South Korean consortium including Korea Resources Corp. has acquired a 90 percent stake in an Indonesian bituminous coal mine for $84.15 million, the state-run mineral developer said Tuesday.KORES said it was involved in a joint venture with Korindo, a Korean-run developer in the Southeast Asian country, to buy the share for the 244 million-ton Kapuas mine from PKP Group, a local mineral exporte
March 22, 2011
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Is the owner always right for LG?
New technology and teamwork expected to revive LGEIt was with a sense of grim determination that Koo Bon-joon took the helm of LG Electronics last year, tasked with the daunting mission of reviving the former glory days of the floundering electronics-maker.Koo, as a member of LG’s owner family, was under close scrutiny from market watchers who were naturally suspicious of just how much of a better
March 22, 2011