Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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40 flights canceled on Jeju Island due to bad weather
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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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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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Samsung, LG fight for 3-D tech supremacy
Samsung emphasizes smarter online features, LG claims brighter, clearer pictureKorea’s electronics powerhouses, Samsung and LG, are embroiled in a bitter war of words trumpeting the superiority of their 3-D TV technologies. The two top TV makers are pinning high hopes on the next-generation moving picture which promises to create lucrative revenue sources.The battle is becoming increasingly intens
March 10, 2011
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Ssangyong Motor emerges from court protection
Ssangyong Motor Co., Korea‘s smallest automaker, emerged from bankruptcy protection Wednesday following the sale of its stake to Indian utility vehicle maker Mahindra & Mahindra Ltd., the company said in a regulatory filing.Ssangyong, previously owned by China’s Shanghai Automotive Industry Corp., has been under court protection since February 2009 when its Chinese parent abandoned it in the face
March 9, 2011
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South Korea to bolster support for exports of nuclear plants
South Korea plans to bolster the country’s financing capabilities, aiming to back its firms with more plant-building projects overseas, the government said Wednesday. The government said it is planning to launch a task force led by the Ministry of Strategy & Finance, in collaboration with the Ministry of Knowledge Economy and financial institutions such as Financial Services Commission, Ex-Im Bank
March 9, 2011
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Women get executive positions in technology firms
In the early days of her 30-year career, Lee Young-hui, executive vice president for Korea’s telecom titan KT Corp., said that she had to challenge the norm and work hard to earn even things taken for granted by her male colleagues. “I didn’t imagine promotion was possible for women,” Lee told Yonhap News Agency in a recent interview in her office south of Seoul. “Back then, women were not even el
March 9, 2011
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Starbucks’ new word-free logo debuts
SEATTLE (AP) ― Starbucks customers saw something new Tuesday when they sipped their coffee.The Seattle-based company rolled out its new words-free logo Tuesday on all its cups. Signs also changed at a handful of stores, and the new logo will show up on more storefronts in the future.The Associated Press first reported in January that Starbucks was updating its logo and would introduce it this mont
March 9, 2011
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Asiana to open new Incheon-Istanbul route
Asiana Airlines, the country’s No. 2 air carrier, said Wednesday that it began accepting reservations for its new route Istanbul-Incheon which will operate from March 29.The carrier will offer the flight three times a week ― every Tuesday, Thursday and Saturday ― to the Turkish city and each plane will be able to accommodate 299 people.The flights that will fly from Incheon every Tuesday and Satur
March 9, 2011
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SKT’s iPhone reservations begin
SK Telecom said Wednesday that about 28,000 people had signed up for its to-be-released Apple iPhone 4 in the first seven hours of registration.A total of 28,000 people made their registrations by 2 p.m. and the number was expected to increase to up to 100,000 people by the end of the day, according to company officials.The country’s leading mobile carrier also said that the first group of 10,000
March 9, 2011
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KEPCO to spend $1.8b on smart grid by 2015
Korea Electric Power Corp., Korea’s biggest electricity producer, plans to invest 2 trillion won ($1.8 billion) over the next five years in a smart grid as part of the government’s efforts to reduce carbon emissions. Adding two-way communications and other enhancements to the nation’s current power-transmission grid nationwide by 2030 may cut about 10 percent of Korea’s annual power consumption, w
March 9, 2011
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Busan Jinhae gets $30m German investment
Germany-based industrial pump maker Wilo SE will invest $30 million in the Busan Jinhae Free Economic Zone, the BJFEZ Authority announced Wednesday.A memorandum of understanding for the investment was plan was signed by BJFEZ Authority commissioner Ha Myeng-keun and the German firm’s chief operating officer Holger Krasmann at Busan City Hall on Tuesday. Under the agreement, Wilo SE’s Korean arm Wi
March 9, 2011
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Japan machinery orders increase 4.2 percent
Japan’s machinery orders rose more than economists expected in January, signaling that companies will boost spending as economic recoveries abroad strengthen. Factory orders increased 4.2 percent from December, when they rose 1.7 percent, the Cabinet Office said Wednesday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to climb 3 percent, according to the
March 9, 2011
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Cathay Pacific triples annual profit
Cathay Pacific Airways Ltd. almost tripled annual profit after an increase in passenger numbers and a surge in cargo volumes that made it the world’s largest international air-freight carrier. Net income jumped to HK$14 billion ($1.8 billion) from HK$4.7 billion a year earlier, the Hong Kong-based carrier said in a statement to the city’s stock exchange Wednesday. The airline also said it had agre
March 9, 2011
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Roubini sees double dip if oil hits $140
Nouriel Roubini, the economist who predicted the global financial crisis, said an increase in oil prices to $140 a barrel will cause some advanced economies to slide back into recession. Underlying how fragile the global economic recovery is, Roubini said the European Central Bank may be making a mistake by raising interest rates “too soon” when debt-ridden countries on the euro region’s periphery
March 9, 2011
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Foreign Ministry under fire for FTA translation errors
The Ministry of Foreign Affairs and Trade came under fire for mistranslation of the free trade agreement with the European Union which was signed on Oct. 6, 2010.On Monday the ministry announced that it has agreed with the EU to correct yet more errors found in the Korean version of the agreement, less than two weeks after other mistakes were corrected.On Feb. 25, the ministry announced that mista
March 8, 2011
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Lee urges Samsung to ensure products are competitive
Lee Kun-hee, chairman of Samsung Electronics Co., said Tuesday that the electronics giant should produce more competitive products in order to dominate the global markets. Samsung Electronics is the world’s top maker of computer memory chips, liquid-crystal display panels and flat-screen TVs. It is also the runner-up in the semiconductor market after Intel Corp. and is the No. 2 mobile brand after
March 8, 2011
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Samsung cuts price for Galaxy Tab WiFi version
Samsung Electronics Co. will launch a WiFi-only version of the Galaxy Tab in the domestic market, which is one-third cheaper than its predecessor, the company said Tuesday. Samsung Electronics started to receive pre-orders for the WiFi-only Galaxy Tab at the price of 600,000 won ($536) this week through its online Web site and retail shops in Korea. It did not disclose the launch date.The WiFi-onl
March 8, 2011
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Exports of used cars drop in 2010: KOTRA
Korea’s exports of used vehicles dropped in 2010 from a year earlier, a local trade body said Tuesday, despite a large boost in overseas sales of new Korean cars last year.The country shipped 239,556 pre-owned vehicles to overseas countries last year, down 9.4 percent from 264,742 units a year earlier, according to the Korea Trade-Investment Promotion Agency (KOTRA).Revenue from overseas sales of
March 8, 2011
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Citigroup cuts KOSPI mid-year target
Korea’s KOSPI Index, which posted its biggest monthly decline in two years last month, had its mid-year target cut at Citigroup Inc. on concern higher oil prices will hurt corporate profits.The mid-year estimate for the benchmark stock gauge was reduced to 2,050-2,150 from 2,200-2,300, Citigroup analysts led by Michael Chung wrote in a report dated yesterday. The brokerage increased its Brent crud
March 8, 2011
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Kia China venture to enhance research
Kia Motors Corp.’s China venture will invest about $150 million on a research and development center to produce its own brand of cars, according to the parent of the Chinese partner.The venture, Dongfeng Yueda Kia Motors Co., will start construction this year and will complete building the center by 2015, Jiangsu Yueda Group Co.’s Vice Chairman Shao Yong said in an interview in Beijing.Automakers
March 8, 2011
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GS head stresses technology, mutual growth
GS Group chairman Huh Chang-soo stressed the significance of original technology and mutual growth with suppliers on Tuesday during his visit to a GS Caltex lubricants plant in Incheon, Gyeonggi Province.“GS has been showing a strong performance overseas with its solid base in the domestic market. I believe we can become a leading global firm if we secure original technologies with which we can co
March 8, 2011
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Yuhan-Kimberly gets organic certification
The Anyday feminine hygiene product brand from Yuhan-Kimberly has received eco-friendly certification for five consecutive years. The Well-being Certification, granted by Korea Management Association Registrations & Assessments Inc., recognizes a domestic product’s functionality, safety and its environmental compatibility.As well as existing Anyday products, new Anyday Organic Cotton, made wholly
March 8, 2011