Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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Kia names new domestic sales chief
Kia Motors Corp. named Lee Sam-ung as its new president for domestic sales and production on Wednesday.He had been serving as a vice president at the country’s second largest carmaker. Lee Sam-ungThe company said that Lee is a labor expert, and that he is expected to make significant contributions to developing the company into a global player by improving its labor management system, thereby esta
Feb. 23, 2011
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Global economy can survive oil price surge, for now: IMF
The world economy can withstand the surge in oil prices sparked by unrest in the Middle East and North Africa so long as the increase proves short-lived, said the International Monetary Fund’s No. 2 official, echoing Deutsche Bank AG and Bank of America Merrill Lynch. Futures for April delivery climbed to within $2 of $100 a barrel in New York Tuesday, and London-traded Brent rose to $108.57, clos
Feb. 23, 2011
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Ssangyong launches first new vehicle in three years
JEJU ― Ssangyong Motors Co. launched the compact sport utility vehicle Korando C, its first new vehicle in three years, on the local market Tuesday.Since the company launched the luxury sedan Chairman W in February 2008, Ssangyong has run into a series of critical problems that at points pushed the company to the brink of collapse delaying plans for the new vehicle.In February 2009 Ssangyong enter
Feb. 23, 2011
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Hyundai Group drops planned lawsuit against Hyundai Motor
Hyundai Group plans to cancel filing a law suit on the failed purchase of Hyundai Engineering & Construction Co., the group said Tuesday. Hyundai Group hopes a compromise plan will come from Hyundai Motor Group, which was chosen by the builder’s shareholders as a preferred bidder, according to the statement.Hyundai Motor Group signed a memorandum of understanding with creditors of the builder last
Feb. 22, 2011
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Daewoo to build giant ships for Denmark
COPENHAGEN (AP) -- Danish shipper and oil group A.P. Moller-Maersk A/S says it has signed a $1.9 billion contract for 10 giant container vessels, expected to be the largest of any known type of ship in operation. Maersk says each ship, to be built by South Korea's Daewoo Shipbuilding & Marine Engineering, will cost $190 million and that it has an option for 20 more vessels. The Copenhagen-base
Feb. 21, 2011
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Korea eyes $10.7 billion in software exports in 2011
Korea aims to export a record $10.7 billion worth of software in 2011 as local companies make inroads into the global information technology (IT) service sector, the government said Monday.The Ministry of Knowledge Economy said exports could jump 17.1 percent on-year as software companies become more competitive on the international market by offering reliable programs that meet overseas requireme
Feb. 21, 2011
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Samsung, LG lead global TV market
Samsung Electronics Co. and LG Electronics Inc. led the world’s flat-screen TV market last year, but they lagged behind Japanese companies in emerging 3-D TV markets, an industry report showed Monday. According to market researcher DisplaySearch, Samsung Electronics clinched 18.7 percent of the flat-screen TVs sold in the global market in 2010, followed by LG’s 13.1 percent and Sony Corp.’s 10.3 p
Feb. 21, 2011
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Korea secures 60,000-ton Japanese fishing quota
Korea has secured the right to catch 60,000 tons of fish in Japanese waters in 2011, unchanged from the year before, the government said Monday.The agreement, reached with Japan late last week, reflects complaints raised by local fishermen operating in Japan’s exclusive economic zone (EEZ), the Ministry for Food, Agriculture, Forestry and Fisheries said.Under the deal, 870 Korean boats will be all
Feb. 21, 2011
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Samsung develops faster mobile DRAM
Samsung Electronics Co., the world’s No. 2 semiconductor maker, said Monday that it has developed a new memory chip for mobile gadgets that can transfer data at a speed eight times faster than previous devices.The WIDE IO mobile dynamic random access memory (DRAM) chip can transfer data at a speed of 12.8 gigabyte per second, compared with 1.6 gigabyte per second of previous devices, the company s
Feb. 21, 2011
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KT pledges better customer satisfaction
Company designates 2011 as the year for improved customer serviceTop executives of KT Corp., the country’s biggest fixed-line service operator, on Monday offered a rare gesture showing their commitment to customer satisfaction Its chairman Lee Suk-chae and two other top officials made foot stamps at the company’s Olleh Campus in southern Seoul. The company designated 2011 as the year for drastic i
Feb. 21, 2011
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IBK has highest labor productivity among banks
The state-run Industrial Bank of Korea led Korean lenders in terms of labor productivity last year, government data showed Monday.According to the Financial Supervision Service, the IBK recorded 181 million won ($163,107) in profit per employee. Shinhan scored the second with 154 million won.Employees at Hana Bank came third with 118 million won and the state-run Woori Bank came fourth with 80 mil
Feb. 21, 2011
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POSCO foundation names prize winners
POSCO TJ Park Foundation announced Monday that this year’s TJ Park Prize will be awarded to a Korea Advanced Institute of Science and Technology scientist, educator and two philanthropists.The foundation, named after POSCO founder Park Tae-joon, has awarded the annual prize for outstanding achievement in the fields of science, education and social services since 2006. KAIST professor Lee Sang-yubT
Feb. 21, 2011
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Lotte Mart to launch cheap TV
Lotte Mart, one of the country’s biggest discount store chains, said Monday that it is putting a 24-inch television on sale at most of their branches for less than 300,000 won ($268).The company stirred controversy last year for selling ultra-cheap chicken, inviting criticism from smaller stores.In a joint effort with a local mid-size firm Moneual, Lotte Mart declared it will target the low-end TV
Feb. 21, 2011
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Korea Express shareholders set March 4 deadline
Korea Express Co.’s controlling shareholders have set a March 4 deadline for initial bids as they sell about 40 percent of Korea’s biggest logistics company, according to a person familiar with the situation.Arrangers Korea Development Bank and Nomura Holdings Inc. sent letters to about 10 domestic investors seeking bids, said the person, who asked not to be named because the information isn’t pub
Feb. 21, 2011
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Korea’s top housing fair kicks off
The Kyunghyang Housing Fair and Housing Brand Fair 2011, the country’s largest building materials and construction exhibition, is to kick off Wednesday, its steering committee said Monday. The two tradeshows were integrated last year, aiming to provide one large cohesive venue for professionals to create a global network.In the five-day event at KINTEX in Goyang, Gyeonggi Province, about 600 compa
Feb. 21, 2011
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KT&G to release new Davidoff
KT&G Corp., Korea’s tobacco giant, said it plans to launch a new version of Davidoff cigarettes in the local market on Wednesday. Davidoff Rich Blue is the second edition of the global premium cigarette brand owned by U.K.-based Imperial Tobacco Group PLC. The cigarette has 3 milligrams of tar, thus offering a milder taste than the first Davidoff Classic’s 6 milligrams, KT&G said Monday. Davidoff
Feb. 21, 2011
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Hyundai Motor to lower builder acquisition price
Hyundai Motor Group and the creditors of Hyundai Engineering and Construction have begun final negotiations over the price of stakes in the builder, with the carmaker expected to push for a reduction.According to industry sources, Hyundai Motor Group is seeking to reduce the amount paid for the 34.88 percent stake in Hyundai E&C due to additional debts the builder was belatedly found to be holding
Feb. 21, 2011
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Samsung develops new faster mobile DRAM
Samsung Electronics Co., the world's No. 2 semiconductor maker, said Monday that it has developed a new memory chip for mobile gadgets that can transfer data at a speed eight times faster than previous devices.The WIDE IO mobile dynamic random access memory (DRAM) chip can transfer data at a speed of 12.8 gigabyte per second, compared with 1.6 gigabyte per second of previous devices, the company s
Feb. 21, 2011
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Androids to run in world's 1st robot marathon
In this photo released by Japanese robot maker Vstone Co., robots wait for the start to demonstration a race during a press conference Wednesday, Feb. 16, 2011. (AP Photo/Vstone Co.)TOKYO (AP) – A technology company is organizing the world's first marathon for robots in Japan, a country known for its love of gizmos.So far, five robots have entered the event, expected to last four days next week. O
Feb. 21, 2011
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SK to spin off life science unit
SK Holdings Co., the holding firm for Korea’s third-largest conglomerate, SK Group, said Friday it plans to spin off its life science business unit in April in a bid to nurture new growth engines.The new entity, tentatively named SK Biopharm, will be launched on April 1 with a paid-in capital of 20 billion won ($18 million), SK said in a regulatory filing.Since launching a drug development busines
Feb. 20, 2011