Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Army takes group action against Hybe for neglecting BTS
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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Hankook Tire takes over control of Hanon Systems
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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S. Korea, Japan, China agree to create new financing facility against regional crises
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Top prosecutor orders speedy investigation into first lady's alleged acceptance of luxury handbag
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Missing S. Korean traveler in Paris found safe after 2 weeks
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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
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Sony halts some TV, camera production
Sony Corp., Japan’s largest exporter of consumer electronics, halted factories that make televisions and cameras, citing difficulties procuring components and materials following the March 11 earthquake. The company suspended operations at 5 plants in central and southern Japan, including in the Aichi and Oita prefectures, starting Tuesday until the end of this month, the Tokyo-based electronics m
March 22, 2011
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Korean retailers to halt imports of Japanese food
Korean retailers said Monday that they have decided to suspend imports of foods and products from Japan due to growing consumer concern over their possible contamination with radiation released from an earthquake-damaged nuclear power plant.Lotte Mart Co., Korea’s third-largest discount store chain, said it will not sell pollack which have mainly been imported from Japan, starting Tuesday.“Though
March 22, 2011
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Disasters will not have long-term effect on Japanese economy, Buffett says
DAEGU ― The disasters that struck Japan will not change the economic prospects of the country, Berkshire Hathaway Inc. chief executive Warren Buffett said Monday.Speaking at a press conference held on the sidelines of the groundbreaking ceremony for TaeguTec’s second plant in Daegu, Buffett said that while such adversity leaves effects, they would temporary and limited in the long term.TeaguTec is
March 22, 2011
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Lee lauds Buffett for his donation activity
President Lee Myung-bak said Monday that Warren Buffett's continued donations have inspired many Korean firms to rethink their social responsibility. "(Your activity) has become a good example for companies in Korea and has aroused a lot of discussions on corporations' social responsibility," Lee said in a 45-minute meeting with the well-known American investor at the presidential office Cheong
March 21, 2011
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KNOC buys stake in U.S. oil field
State-run Korea National Oil Corp. has purchased a 23.67 percent stake in a U.S. oil field from Anadarko Petroleum Corp. for US$1.55 billion, the government said Monday. The shale oil field in the Maverick Basin region in Texas near the U.S.-Mexico border is estimated to hold 491 million barrels of oil equivalent, said the Ministry of Knowledge Economy, adding that KNOC will secure 116 million B
March 21, 2011
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Korea secures 1.7m barrels of overseas oil
South Korea has inked two oil deals in the United States and Kazakhstan meant to boost the country’s energy security. The state-run Korea National Oil Corp. has bought a stake in an unconventional oil field in Texas from Anadarko Petroleum Corp., the Ministry of Knowledge Economy said Monday.The firm now holds a 23.7 percent-stake in the shale oil field for which it paid $1.5 million and expects t
March 21, 2011
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KOGAS develops biggest LNG tank
Korea’s state-run Korea Gas Corp. said Monday that it has developed a design technology for the world’s largest liquefied natural gas tank. The tank has a storage capacity of 270,000 kiloliters, up 35 percent compared with that of the largest existing tank, helping reduce the construction cost per LNG tank by 23.5 billion won ($20.9 million), KOGAS said in a statement. The company said it is consi
March 21, 2011
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Hyundai Motor posts big sales gain in China
Hyundai Motor Co., Korea’s largest automaker, saw a great boost to its sales in China last month, becoming the third best-selling brand in the world’s largest market for automobiles, company officials said Monday.The company sold 50,717 vehicles in China last month, up 36.7 percent from the same period last year.The figure represents a near 30 percent drop from a month earlier when the company sol
March 21, 2011
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Japan quake leads GM Korea to cut production
The Korean unit of General Motors said Monday it would reduce production this week by up to 10 percent because of a possible lack of parts from Japan following the devastating earthquake.GM Korea ― formerly GM Daewoo ― said it would stop four hours a day of overtime work from Monday at its plants in the western city of Bupyeong and in the southwestern port of Gunsan.The company said it would also
March 21, 2011
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Korean consumers set sights on local food
Managers at Hansalim, Korea’s biggest cooperative of consumers, recently realized the depth of the food scare when they took a look at the surging number of their cooperative’s members. Established in 1986, Hansalim saw its membership swell by nearly 20 percent to 250,900 in January from a year ago, just by word of mouth. It spends almost nothing on public relations.The sharp increase in membershi
March 21, 2011
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POSCO breaks ground on China steel mill
Plant in Guangdong to make steel sheets for cars in 2012POSCO, the world’s fourth-largest steelmaker, said it begun work Monday on a new plant in China to produce galvanized steel sheets for cars. The plant will be built on a 270,000 square-meter area in Guangdong, southern China in a joint project with the firm’s subsidiary Guangdong Shunde Steel Co. and the Guangdong Province government, the com
March 21, 2011