Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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State R&D chief to speak at CeBIT
Hwang Chang-gyu, head of Ministry of Knowledge Economy’s Strategic R&D Planning office, has been chosen as one of the three speakers for a conference to be held during German IT exhibition CeBIT from March 1 to 5, the organizers of the event said Monday. Hwang Chang-gyuThe former Samsung Electronics chief, who was appointed to the government post early last year, is the first Korean to give a spee
Jan. 17, 2011
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Hyundai Mobis eyes spot in top 10 car parts makers
Hyundai Mobis Co. plans to invest 1.15 trillion won ($1.02 billion) this year aiming to become one of the world’s 10 largest auto parts makers, the company said on Monday.The company affiliated with Hyundai Motor Group will earmark 360 billion won for research and development for high-tech systems this year.It will diversify its R&D personnel to include more engineers specializing in information t
Jan. 17, 2011
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Telecoms bet on cloud computing
Local carriers look to take share of global market expected to reach $44.2b in 2013Korea’s telecom carriers are jumping on the cloud computing market to meet growing demand for software, platform and data storage in service. SK Telecom Co., Korea’s top wireless carrier, said Monday it will open a cloud service center that will allow small and mid-sized firms to use high-capacity computing resource
Jan. 17, 2011
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Global forum seeks to promote clean energy
World Future Energy Summit opens in Abu DhabiABU DHABI ― Ministers and industry experts from around the world gathered in the capital of the United Arab Emirates to discuss ways to promote the use of clean energy for sustainable growth. The 4th annual World Future Energy Summit kicked off Monday hosted by Abu Dhabi-based power company Masdar, wholly owned by the state-run Mubadala Development Comp
Jan. 17, 2011
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Korean Air to start A380 flights in June
Korean Air said Monday it would take delivery of five Airbus A380 superjumbos this year, with the first flight scheduled for June.The Korean flag carrier said the A380 service between Incheon International Airport and Tokyo’s Narita would start on the morning of June 1, with the plane departing for Hong Kong once it returns from Narita.It said in a statement the service would be expanded to Bangko
Jan. 17, 2011
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Hyundai Motor scales down target share of domestic auto market
Hyundai Motor Co. aims to boost its domestic market share to 47 percent this year with its upgraded vehicles lineup, the company said Sunday. The country’s top automaker took 45.2 percent of the Korean market in 2010, falling short of its 52 percent target for the year and the 50.7 percent it secured in 2009. In contrast to a strong overseas performance, Hyundai’s domestic sales in 2010 fell 6.1 p
Jan. 16, 2011
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LG bets on leadership to stay ahead
LG Group plans to foster strong leadership among younger employees to fulfill the growing need to secure new human resources and a new organization to stay ahead of the markets, the company said Sunday. “People and their organization must first change if they are to persistently face challenges to lead the markets,” LG Group chairman Koo Bon-moo was quoted as saying. Koo said LG will select 500 em
Jan. 16, 2011
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Oilbank launches new refining facility
Hyundai Oilbank Co. has recently completed the construction of its second heavy oil upgrading plant as local refineries are racing to get an edge in the high value-added market.The country’s smallest refiner said on Sunday the new facility located in Daesan, South Chungcheong Province, will enter full operation in mid-May after a four-month test run. The company has invested 2.6 trillion won ($2.3
Jan. 16, 2011
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Korea steps up restructuring of savings banks
Financial authorities are quickening their moves to restructure savings banks struggling with growing bad debts to prevent their troubles from destabilizing the broader financial system.The state-run Korea Asset Management Corp. said on Saturday it will conduct a sweeping investigation into all construction-related project financing schemes involving domestic savings banks. Sources said the Financ
Jan. 16, 2011
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U.S. automakers draw big crowds
DETROIT (AP) ― Sharp designs with pizzazz, power and elegance helped pull in crowds during the public opening Saturday of the North American International Auto Show, with U.S automakers doing their best to impress consumers looking for signs of the industry’s recovery.Thousands of people from around the world filed from exhibit to exhibit inside the sprawling Cobo Center in Detroit. They perused t
Jan. 16, 2011
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News Corp.'s launch of iPad newspaper is delayed
(News Corp. and iPad maker Apple Inc. have decided to delay the launch of The Daily.)NEW YORK (AP) _ News Corp. is pushing back the launch of the world's first iPad-only newspaper.The company declined to comment on why. But a person familiar with the matter, who spoke on condition of anonymity because the person was not authorized to disclose details, said Friday that News Corp. and iPad maker A
Jan. 16, 2011
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Refiners wary of political pressure to cut oil prices
Following Lee comments, officials move to rein in petroleum pricesThe presidential office and the antitrust regulatory body are poised to turn up the heat on major oil refiners in a drive to tame inflationary pressures.President Lee Myung-bak said Thursday that the prices of petroleum products need to be “carefully analyzed” to determine whether they are at “reasonable levels.”In addition, the Fai
Jan. 14, 2011
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Hyundai Motor signs deal on Hyundai E&C
Hyundai Motor Group signed a memorandum of understanding with creditors of Hyundai Engineering and Construction to take over the nation’s largest builder Friday.The MOU between the creditors, including Korea Exchange Bank, and the automobile giant is said to carry all the conditions found in that with Hyundai Group, which has been deprived of preferred bidder status due to its dubious funding plan
Jan. 14, 2011
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SKT to launch 30 smartphones this year
Nation’s biggest mobile carrier also plans to release up to five tablet PCsSK Telecom Co., Korea’s No. 1 mobile operator, said on Thursday it plans to roll out around 30 new smartphones and up to five tablet computers this year, aiming to lead the rapidly evolving market of smart devices.Its new smartphone lineup includes LG Electronics’ Optimus 2X, Samsung Electronics’ Personal Media Phone, Motor
Jan. 14, 2011
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Hyundai unveils new Grandeur
Hyundai Motor Co., Korea’s top automaker, unveiled Thursday the long-awaited new version of its upper-end passenger vehicle, the Grandeur.The fifth-generation Grandeur, sold as the Azera in overseas markets including the United States, is the first version out in nearly five years since May 2005.“We are confident the new Grandeur will add to the class and pride of its customers as it comes with a
Jan. 13, 2011
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POSCO looks to buy Korea Express
Steelmaker posts record sales in 2010POSCO chief executive Chung Joon-yang said Thursday the nation’s top steelmaker is considering acquiring the country’s largest delivery service provider Korea Express Co.Kumho Asiana Group plans to sell Korea Express, which it acquired in March 2008, to stabilize the group’s financial structure.“With regards to the logistics needs arising at overseas steelworks
Jan. 13, 2011
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Samsung opens official global blog
Samsung Group, Korea’s top conglomerate, said Thursday it has launched an English blog to boost communications with users around the world. The Samsung Village (www.samsungvillage.com) is designed to introduce the group’s history and business, and offer open forums where local and foreign visitors can share their views and opinions about news and human interest stories, the group said.“Digital med
Jan. 13, 2011
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SK Group to invest W10.5tr in 2011
Telecom, energy giant to focus on green energy, overseas resources, new mobile technologiesSK Group said Thursday it would increase investment 30 percent this year to a record high 10.5 trillion won ($9.4 billion) to power future growth in clean energy, overseas resources and advanced mobile technologies.Korea’s third-largest conglomerate also plans to hire about 3,000 new employees, 25 percent mo
Jan. 13, 2011
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Renault-Nissan ups cooperation with Korean parts makers
Renault-Nissan Alliance held its annual purchasing conference in Seoul this week, opening new opportunities for local parts makers, Renault Samsung Motors Co. said Thursday.The conference, held Monday and Tuesday by Renault-Nissan Purchasing Organization that oversees purchasing and quality control of parts for Renault and Nissan operations, is customarily held at the headquarters of Renault or Ni
Jan. 13, 2011
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Major retailers gear up for online shopping boom
Lotte, Shinsegae, Hyundai speed up expansion of Internet, mobile businessesKorea’s large retailers are gearing up for intensifying competition online as virtual marketplaces grow on the back of popular mobile computing and social media.Lotte Shopping, Shinsegae Group and Hyundai Department Store are strengthening their Internet and mobile business operations with plans to open new shops, broaden p
Jan. 13, 2011