Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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POSCO steps up resources development
Steelmaker boosts magnesium capabilities in its diversification driveAs magnesium alloys emerge as next-generation material for vehicles, POSCO, the world’s fourth-largest steelmaker, is betting on the metal to fuel the next stage of its drive to become an all-round materials developer.While the market for magnesium alloys remains relatively small, such materials have become key candidates for use
Jan. 27, 2011
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Kindle Singles debuts pithy digital works
SAN FRANCISCO (AFP) ― Amazon has released the first of a new line of short digital books pitched as quick, captivating works for its popular Kindle electronic readers.The launch of Kindle Singles included the debut of TED Books, written versions of inspirational 18-minute talks that are a trademark of renowned TED gatherings dedicated to cultivating “ideas worth spreading.”“This first set of Singl
Jan. 27, 2011
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China unveils new steps to cool property market
BEIJING (AP) ― China on Wednesday unveiled fresh measures to curb property prices, including requiring unruly local governments to set price controls, but made no mention of a widely expected property tax.City governments must set property price control targets in line with local income levels for 2011 and need to make the targets public in the first quarter, according to a state media report citi
Jan. 27, 2011
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Hyundai Motor net soars to 5.27tr won
Hyundai Motor Co.’s net annual profits broke the 5 trillion won mark for the first time in 2010 buoyed by improving performances from overseas operations, the company announced Thursday.The company’s net profits for 2010 jumped 77.8 percent from the previous year to come in at 5.27 trillion won ($4.73 billion), while operating profits came in at 3.23 trillion won, up 44.4 percent from 2009.The com
Jan. 27, 2011
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Robots to teach, fight fire in pilot projects
Robots will be deployed for education, fire-fighting, sewage repairs and manufacturing this year in a series of pilot projects aimed at nurturing robotics as the country’s key growth industry.Next year will see robots patrol danger zones, remove mines in the DMZ and do farm work, according to government-led plans unveiled Thursday.Seven ministries involving industry, education and the environment
Jan. 27, 2011
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Hynix posts record W12tr sales in 2010
Hynix Semiconductor Inc. announced Thursday that its consolidated sales for last year reached record 12.09 trillion won ($10.86 billion), up by 53 percent from 2009, despite the fall in prices of DRAM and NAND Flash memory.The world’s second-biggest computer memory chipmaker said that its operating profit totaled 3.27 trillion won, an increase of 1,605 percent from 192 billion won recorded in 2009
Jan. 27, 2011
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S-Oil back into black
S-Oil Corp., Korea’s third- biggest oil refiner, posted a fourth-quarter profit that beat analysts’ estimates as a global economic recovery helped increase earnings from processing crude into gasoline and diesel. Net income was 322.7 billion won ($290 million) in the three months ended Dec. 31, compared with a loss of 87.4 billion won a year earlier, the Seoul-based company said in a regulatory fi
Jan. 27, 2011
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Korean Air targets record operating profit on A380s
Korean Air, the country’s largest carrier, forecast record operating profit this year as it seeks to lure more premium-class travelers and begins to operate Airbus SAS A380 superjumbos.Operating profit, or sales minus the cost of goods sold and administrative expenses, may rise 14 percent to 1.28 trillion won ($1.1 billion), the company said in an e-mailed statement Thursday. Sales may increase 8.
Jan. 27, 2011
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Retailers target luxury sales, expand overseas for growth
After a year of record revenues, Korean retailers are aggressively expanding at home and abroad, pinning hopes on booming luxury goods sales and the rise of deep-pocketed Asian consumers.Top department store chains, Lotte, Shinsegae and Hyundai, are sizing up their existing downtown branches and opening new stores in suburban centers, setting their sights on consumers of high-end products.Large di
Jan. 26, 2011
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KEPCO completes first offshore weather tower
Korea Electric Power Corp. has established the country’s first meteorological tower at sea as part of its offshore wind power generation. The 115-meter Herald of Meteorological and Oceanographic Special Unit-1 was built on the South Sea near the Busan-Yeonggwang area, the company said Wednesday.Its primary purpose is to obtain meteorological and oceanographic data for an offshore wind farm planned
Jan. 26, 2011
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Korea catches up in water technologies
Korea has significantly narrowed the gap with advanced countries in water-related technologies under a government initiative to nurture growth, officials said Wednesday.For the past decade, the level of Korea’s technological capabilities in related fields have risen to about 80 percent that of advanced nations from 40 percent, according to the Ministry of Land, Transport and Maritime Affairs. A to
Jan. 26, 2011
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Daewoo E&C to retain CEO Seo
Daewoo Engineering & Construction CEO Seo Jong-uk was reappointed to the post for a three-year term, the firm said Wednesday.The nation’s fourth-largest builder said it held general and board meetings Tuesday and made the decision, despite recent changes it has undergone. It was acquired by Industrial Bank of Korea late last year. IBK currently holds 50.8 percent of the firm’s share. Seo Jong-woo
Jan. 26, 2011
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Rice wine exports hit record high in 2010
Exports of Korea’s traditional rice wine makgeolli reached an all-time high last year thanks to high demand in Japan and a spike in shipments to China, a report showed Wednesday.Makgeolli exports reached $19.1 million in 2010, up from $6.3 million a year earlier, said the report by the Korea Agro-Fisheries Trade Corp.By country, Japan topped the list of importers with shipments totaling $15.6 mill
Jan. 26, 2011
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Galaxy Tab sales top 2m in 3 months
Samsung Electronics Co., the world’s second-largest maker of mobile phones, said Wednesday that it has sold more than 2 million units of the Galaxy Tab tablet computer within three months of its global debut. Samsung achieved the sales figure this week as the company sells the 7-inch, Android-running tablet through some 200 mobile carriers in 94 countries, the company said. About 500,000 units of
Jan. 26, 2011
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SK Telecom selects LTE networks suppliers
Korea’s largest mobile carrier SK Telecom Co. said Wednesday that it will hire three companies to supply equipment to build a long-term evolution network as the mobile operator braces for a surge in wireless data demand. Samsung Electronics Co., LG-Ericsson Co. and Nokia Siemens Networks B.V. will supply equipment for the LTE network, SK Telecom said in a statement. The mobile operator plans to st
Jan. 26, 2011
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Samsung Electronics to hire more workers in China
HONG KONG (Yonhap News) -- Korean tech behemoth Samsung Electronics Co. is expected to hire more employees in China in an effort to enhance its display production there, company officials said Wednesday.Samsung Electronics plans to hire dozens of professionals for process manufacturing, quality management and production management of its liquid crystal display (LCD) production facilities in China,
Jan. 26, 2011
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Bentley introduces new Series 51 models
Bentley Korea, the local importer of British automaker Bentley Motors Ltd., on Wednesday introduced the latest models of Bentley’s super luxury sedan, the Continental Flying Spur, in Korea.The new Flying Spur Series 51 come in two trims ― the Flying Spur and the Flying Spur Speed ― both equipped with a V12, 6.0-liter engine that produces a maximum horsepower of 600.The Continental Flying Spur has
Jan. 26, 2011
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Yahoo’s earnings double despite ebbing revenue
SAN FRANCISCO (AP) ― Yahoo Inc.’s fourth-quarter earnings more than doubled, but the Internet company’s sagging revenue showed that it is still lagging in the high-stakes race for online advertising.The results announced Tuesday illuminated why many investors are wondering if Yahoo CEO Carol Bartz is the right person for the job as she enters the second half of a four-year contract she signed in
Jan. 26, 2011
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Hyundai Capital bonds garner keen investor interest
Overseas investors have shown a keen interest in new bonds issued by Hyundai Capital Service Inc., a financial unit of South Korea's Hyundai Motor Group, financial sources here said Tuesday. Hyundai Capital Services successfully raised US$700 million byselling bonds maturing in five-and-a-half years. The bonds carry aninterest rate of 245 basis points above U.S. government debts. Bookr
Jan. 25, 2011
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Toyota remains world’s largest automaker
Japanese company sells 8.4m cars in 2010 despite recallsTOKYO (AFP) ― Toyota said Monday its group sales in 2010 rose, enabling the firm to narrowly retain its title as the world’s biggest automaker despite a global safety crisis that damaged its brand image.But analysts warn that after a year that saw the recall of millions of vehicles, a wave of lawsuits and record fines, the company is likely to soon surrender that lead as it battles to regain consumer trust overseas.In 2008 Toyota ended Gene
Jan. 25, 2011