Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Intel to pay $1.5 billion to Nvidia
SAN FRANCISCO (AP) ― Intel Corp. is paying $1.5 billion to end a fight it started with Nvidia Corp. over a key computer technology.The legal battle centered Nvidia’s ability to make “chipsets” that are compatible with Intel’s latest processors ― a fight that has implications for many of the world’s computer users, since Intel and Nvidia’s chips are ubiquitous.Nvidia is a top maker of graphics chip
Jan. 11, 2011
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GM Daewoo aims to export 1.8 million units this year
GM Daewoo Auto and Technology Co. aims to export more than 1.8 million vehicles and knockdown kits under the Chevrolet brand this year, its president Mike Arcamone said Monday.The Korean unit of GM will also launch eight new vehicles to Korea, instead of the originally planned seven, this year. Four of the eight models will be those in segments the company does not currently compete in, he added.H
Jan. 11, 2011
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Hyundai prioritizes quality, image
Top Korean carmaker confident of raising U.S. market share to 5 percentHyundai Motor Co. will focus on boosting quality and brand image as it steps up its challenge for global automobile leadership, vice chairman Chung Eui-sun said Monday. “Hyundai’s biggest challenge is to secure competitiveness in terms of quality in order to improve the brand image,” Chung said at the North American Internation
Jan. 11, 2011
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Facebook eclipses Twitter in Korean Web traffic
After a year of fiery growth, micro-blogging site Twitter is seeing a sharp drop in traffic in Korea while social networking hotspot Facebook continues to grow, figures show. According to Internet market research firm KoreanClick on Monday, Twitter’s page views in the last week of 2010 fell to about 25 million from nearly 45 million three months ago. The number of unique visitors ― people who visi
Jan. 11, 2011
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Low-cost carriers fare well in 2010
Korea’s low-cost airlines showed improved performances last year thanks to a surge in demand for air travel and expanded routes, industry data showed Monday.The country’s biggest discount carrier Jeju Air Co. posted 158 billion won ($143 million) in sales last year, up 80 percent from a year earlier, data showed. It did not post its operating profit, but its operating loss came to a smaller-than-e
Jan. 10, 2011
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Eco-friendly crude ship built by Hyundai
Hyundai Heavy Industries has delivered the world’s first crude oil carrier fitted with equipment for treating ballast water, the firm announced Monday. Empty vessels are balanced by ballast water, which is then emptied out when cargo is loaded at ports. This practice can transport non-indigenous organisms to waters across the world, damaging foreign ecosystems.With the International Maritime Organ
Jan. 10, 2011
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GS Group to invest W2.2tr, aim for W55tr sales
Energy, retail giant plans to hire 2,800 new employeesGS Group plans to increase its investments 10 percent to more than 2.2 trillion won ($1.9 billion) this year to strengthen its core businesses of energy, retail and construction and expand overseas activities. Korea’s seventh largest business group said on Monday it aims to post 55 trillion won in sales, up 5.7 percent from last year. “While fo
Jan. 10, 2011
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Multinational drug makers bet on young CEOs
Multinational drug companies are installing young and aggressive leaders to head their Korean operations in an increasingly competitive local market. Ranga Welaratne, 38, was appointed on Jan. 3 as the new head of the Korean branch of Sanofi-Pasteur, Sanofi-Aventis group’s vaccine division, becoming the latest CEO in their 30s to 40s to lead a multinational pharmaceutical firms’ Korean branch. Hav
Jan. 10, 2011
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Conglomerates sign up for Yeosu Expo facilities
Seven conglomerates including Samsung Group, Hyundai Motors Group, and SK Group signed up to participate in the 2012 World Expo in Yeosu, its organizing committee said.Other participating business groups include LG, Lotte, Posco and GS. The fact that leading local conglomerates decided to participate in the Yeosu Expo shows that expectations for the event are very high, organizers said. The expo i
Jan. 10, 2011
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Shinsegae store tops W1tr in turnover
Shinsegae Department Store announced Monday that its Gangnam branch became Korea’s second retail outlet to surpass the threshold of 1 trillion won ($894.1 million) in sales last year. The branch store in southern Seoul registered 1.09 trillion won in revenue, about 18 percent up from 920 billion won in 2009, the company said.Korea’s retail industry is estimated to have grown 7-8 percent in 2010 as
Jan. 10, 2011
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Korea Express eyes W2.35tr in sales
Korea Express Co., Korea’s largest logistics firm, said Monday that it is seeking to post 2.35 trillion won ($2.09 billion) in sales this year, up around 10 percent from last year.The company is also targeting an operating income of 157 billion won in 2011.Last year, Korea Express was estimated to have logged an operating income of 130 billion won on sales of 2.16 trillion won.Major shareholders o
Jan. 10, 2011
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China's mobile phone users top 850 mln in 2010
HONG KONG -- The number of mobile phone subscribers in China exceeded 850 million last year as more Chinese people began to consider mobile phones everyday necessities, a government report showed Monday. The net addition of Chinese mobile users reached a record high of more than 100 million in 2010 alone, according to the report from the Chinese Ministry of Industry and Information Technology
Jan. 10, 2011
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W790 coffee touches off price war
A fresh price war among coffee vendors looms as a domestic franchised shop began to sell its standard product at close to one-fifth the market price last week.Manoffin, owned by popular local pizza franchise Mr. Pizza Corp., offers Hawaiian Kona coffee, one of the most popular brands here, at 790 won ($0.70) per cup. This price is far lower than its peers from Starbucks, Coffee Bean and other bran
Jan. 10, 2011
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Samsung heir supports father’s pledge on change
LAS VEGAS ― Samsung Electronics’ heir apparent Lee Jae-yong on Friday strongly supported his father Lee Kun-hee’s drive for challenge and change. “(Chairman Lee) is someone who is constantly mounts new challenges,” Lee said from Las Vegas where he was attending the Consumer Electronics Show, the largest electronics tradeshow in the world. “Also, the chairman has DNA that makes it unbearable for hi
Jan. 10, 2011
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Time to get back to basics: LGE chief
Koo pledges to create ‘tougher work culture’LAS VEGAS ― Koo Bon-joon’s distress over his new charge, LG Electronics, was palpable throughout the brisk speech he delivered on the sidelines of the world’s largest electronics fair. “Our basics have been significantly undermined,” Koo, vice chairman of the company, said at a briefing to the Korean press while attending the Consumer Electronics Show. R
Jan. 10, 2011
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LG Chem technology not leaked in Renault case
LG Chem Ltd. said on Sunday that its battery technology was not part of information suspected to have been leaked by Renault SA officials. An official at the Korean company said that the three officials at the French carmaker who are accused of leaking Renault's secrets didn't have access to LG Chem's battery technology. "The officials are not involved in the LG Chem-related business and Renault'
Jan. 9, 2011
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Tablets crowd CES, chasing iPad’s tail
Working with high-speed data network may be key to success in the tablet spaceLAS VEGAS (AP) ― Big tablets and small tablets, white ones and black ones. Cheap ones and expensive ones. Brand names famous and obscure are at the starting line of a race where the iPad is already a speeding dot on the horizon.It’s impossible to walk the floor at this year’s International Consumer Electronics Show witho
Jan. 9, 2011
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Internet connectivity is top tech trend: CEA head
LAS VEGAS ― Internet connectivity in electronic devices was clearly a major theme for this year’s Consumer Electronics Show, according to Gary Shapiro, president and CEO of the Consumer Electronics Association. His organization owns and is responsible for the production of CES, the world’s largest electronics tradeshow held in Las Vegas annually to a bustling crowd of eager buyers. “In terms of tr
Jan. 9, 2011
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Samsung sales top W150 trillion
Operating profit for 2010 increases 58.1%Samsung Electronics saw its yearly sales reach an all-time high to post 150 trillion won ($133.9 billion), buoyed by marked growth in the field of semiconductor sales. The country’s largest electronics firm said Friday that it recorded 41 trillion won in sales and 3 trillion won in operating profit for the fourth quarter of last year, leading to yearly sale
Jan. 7, 2011
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Skype offers upgraded video calling
Skype, the leading internet calls operator, said Friday that it updated its software for enterprises with Group Video Calling which enables the participation of a maximum of 10 people.The business version of Skype intends to become a communication platform that could have individuals interact in real-time over high quality audio and video, conference calling and instant messages, according to Skyp
Jan. 7, 2011