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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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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Pandemic left Korea more depressed than before: report
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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Big banks must be broken up: Hoenig
Federal Reserve Bank of Kansas City President Thomas Hoenig said U.S. regulators should avert another crisis by breaking up large financial institutions that pose a threat “to our capitalistic system.”“I am convinced that the existence of too-big-to-fail financial institutions poses the greatest risk to the U.S. economy,” Hoenig said Wednesday in a speech in Washington. “They must be broken up. We
Feb. 24, 2011
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Foreigners' land ownership in S. Korea grows in 2010
Foreign ownership of South Korea's land rose slightly last year, but its growth rate remained relatively slow compared with levels tallied before the financial crisis, a government report showed Thursday. Foreigners owned a total of 223.72 million square meters of land in the country at the end of last year, up 2.4 percent from a year earlier, according to the report by the land and transport
Feb. 24, 2011
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SK Telecom to release Apple's iPhone 4 next month in S. Korea
South Korea's top mobile carrier SK Telecom Co. will release Apple Inc.'s iPhone 4 in the local market next month, ending the exclusive distribution by its rival wireless operator, an industry source said Thursday. SK Telecom Co. will release Apple Inc.'s iPhone 4 (Bloomberg)"Negotiations between SK Telecom and Apple are in the final stage," said the source who is familiar with the matter. "As th
Feb. 24, 2011
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BP deal to boost India’s energy output: analysts
MUMBA (AFP) ― BP’s multi-billion-dollar tie-up with Reliance will accelerate fuel-hungry India’s exploration for energy and hand the Indian giant the skills to develop hard-to-exploit reserves, analysts say.The British energy group on Monday agreed to pay $7.2 billion for a 30-percent stake in Reliance’s 23 largely unexplored deepwater oil and gas fields off the coast of India, which cover an area equivalent to the North Sea.The tie-up with embattled BP, which this month reported its first annua
Feb. 23, 2011
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Russia may extend grain export ban
Deputy P.M. says export ban could be extended after July 1MOSCOW (AFP) ― Russia on Tuesday said it may extend a ban on grain exports that has been blamed for triggering global food price rises beyond its provisional expiry date of July 1.The Russian government’s pointman on agriculture emerged from a closed-door cabinet meeting chaired by Prime Minister Vladimir Putin to announce that such an opti
Feb. 23, 2011
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Samsung makes breakthrough in color display technology
Samsung Electronics said on Wednesday that it has developed the world’s first full-color quantum dot display, paving the way for the next-generation products that are cheaper but more vivid and energy-efficient.Quantum dots are semiconductor nanocrystals that become luminous in reaction to current or light. They have emerged as a next-generation photonic method due to its finer color expressions a
Feb. 23, 2011
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KT to support mobile app developers
KT Corp., the country’s biggest wireless Internet zone operator, announced Wednesday that it plans to launch a project to help mobile application developers sell their products overseas.The “global frontier project” is a measure for the telecom giant to establish mutual growth with smaller venture firms. It supports talented mobile application developers from the development stage to when items ar
Feb. 23, 2011
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Index to gauge treatment of suppliers
Government and private-sector representatives will introduce a new index to gauge large companies’ relationship with smaller suppliers as part of its efforts to promote broad-based growth, officials said Wednesday.The shared growth index will be announced once annually, starting with 56 companies including Hyundai Motor Co., POSCO and Samsung Electronics next year, the Commission on Shared Growth
Feb. 23, 2011
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Lotte Mart bargain TVs are a sell-out success
Lotte Mart’s ultra-cheap television has proved to be a hot item, with some of its branches selling out within hours of opening Wednesday.Lotte Mart officials said it began selling the 24-inch TVs, which cost less than 300,000 won ($268), at 89 of its branches across the nation from 9-10 a.m. Ultra-cheap 24-inch televisions on display at a Lotte Mart branch in Seoul (Yonhap News)Some customers queu
Feb. 23, 2011
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AD Motors to build electric car plant in Yeonggwang
AD Motors, a Seoul-based electric car maker, announced Wednesday that it will build a mass production facility in Yeonggwang Country in South Jeolla Province. Once complete, the facility will be capable of producing 43,000 electric vehicles on an annual basis.The company signed an agreement for the project with the governments of Yeonggwang county and South Jeolla Province on Tuesday. It will inje
Feb. 23, 2011
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Australian Chamber gets new chief
The Australian Chamber of Commerce in Korea has elected Jim Lim, regional manager of Meat & Livestock Australia, as the new chairman for its executive committee this year. Lim will replace Sean Rodrigues, who has held the post for the last three years. Jim Lim“I am honored to have been elected chairman and intend to work closely with all our stakeholders to continue the growth and development of
Feb. 23, 2011
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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