Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Hyundai-Kia’s market share hits new high this year
Hyundai and Kia brands’ global market share posted a record high in the first three quarters this year, a market research firm said Sunday. According to the U.S.-based JD Power, the nation’s top two carmakers, both owned by Hyundai Motor Group, saw their combined market share reach 8.6 percent this year, up 0.1 percent from the same period last year. Hyundai Motor sold about 3.21 million cars to claim 5.3 percent of global car market, while Kia Motors made up 3.3 percent, selling 2.03 million ca
MobilityNov. 18, 2012
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Hyundai Motor seeks hybrid cars’ EU market debut
Hyundai Motor Group is mapping out strategies to export hybrid cars to Europe or roll out the fuel-efficient models at its manufacturing factories in the Czech Republic and Slovakia.Its project to advance to the European market reflects group chairman Chung Mong-koo’s instruction to drastically improve the annual production capacity for hybrid vehicles and diversify export destinations.Hyundai Motor and Kia Motors’ hybrid models, which use two or more distinct power sources, are currently being
MobilityNov. 18, 2012
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KT chairman wins Asia business leaders award
KT Corp. chairman Lee Suk-chae won the 11th CNBC Asia Business Leaders Award in Bangkok, Thailand, on Friday, the mobile operator said on Sunday.The award acknowledges Asian business visionaries with strength, innovation, ingenuity, knowledge and foresight that are especially required for the leaders of today’s global economy. One of the six awardees this year, Lee won the accolade in recognition of his personal involvement in supporting and fostering the next generation of leaders. Lee has beco
TechnologyNov. 18, 2012
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Kwon ranks fifth in list of top Fortune businesspersons
Samsung Electronics CEO Kwon Oh-hyun was ranked fifth out of 50 CEOs in “2012 Businessperson of the Year” selected by global business magazine Fortune, followed by Google CEO Larry Page who ranked sixth. Fortune evaluated Kwon as a CEO who has successfully run the $149 billion Samsung Electronics empire since June 2012 as the head of component business. “Under Kwon, the Korean company became the second-largest chipmaker in the world. Now the new CEO has to contend with its top customer and compe
TechnologyNov. 18, 2012
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Rocket component transported to Naro Center
The Ministry of Education, Science and Technology said that a newly-made Russian component of the Korea Space Launch Vehicle-1, or the Naro rocket, arrived at its space center in Goheung, South Jeolla Province on Saturday.Naro’s adaptor block, the helium supply system that gives the thrust during the liftoff, was found to be defective, causing Korea to cancel its scheduled rocket launch last month.The block also led to defective rubber seals that held the helium during the injection into the fir
TechnologyNov. 18, 2012
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France bans access to 'end of world' refuge
France on Friday dashed the hopes of those who had planned to take refuge in one of the few places on Earth some believe will be spared when the world ends on December 21.Local officials banned access to the Pic de Bugarach, a mountain in the southwest where rumor has it the hilltop will open on the last day and aliens will emerge with spaceships to save nearby humans.Eric Freysselinard, the state's top representative in the area, said he was blocking access to the mountain for public safety rea
TechnologyNov. 18, 2012
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Samsung reduces facility investment for 2nd quarter in a row
South Korean tech behemoth Samsung Electronics Co. has scaled down its investment in production facilities for the second quarter in a row apprently in anticipation of a protracted global economic slump, industry data showed Sunday. The company spent 4.54 trillion won ($4.16 billion) on facilities for semiconductor, liquid crystal display and other products over the July-September period, the lowest level in 10 quarters since it invested 4.14 trillion won in the first quarter of 2010, accordi
TechnologyNov. 18, 2012
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Google's Android is eating Apple's lunch
Smartphones and tablets powered by Google's Android software are devouring the mobile gadget market, eating into Apple's turf by feeding appetites for innovation and low prices, analysts say. The Android operating system powered nearly three out of four smartphones shipped worldwide in the recently ended quarter as the mobile platform dominated the market, according to industry trackers at IDC. "Android has been one of the primary growth engines of the smartphone market since it was launche
TechnologyNov. 18, 2012
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Mars radiation levels not lethal to humans
The Mars rover Curiosity found radiation levels on Mars are not lethal to humans, U.S. researchers say."Absolutely, astronauts can live in this environment," said Don Hassler, principal investigator for the rover's Radiation Assessment Detector, at a news conference Thursday.Hassler said characterizing the radiation on the surface of another planet has never been done before now, CNN reported.Researchers plan to collect radiation numbers over time to create a better assessment of exactly how muc
TechnologyNov. 18, 2012
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High radiation found in Fukushima's fish
Fish caught near Japan's Fukushima nuclear power plant have radiation levels 100 times higher than normal, officials say.Japan's Environment Ministry carried out a study that found fish caught near the plant had more radiation than fish caught elsewhere, RIA Novosti reported.The levels found ranged from 4,400 becquerels per kilogram to 11,400 becquerels per kilogram, against the maximum "safe" level of 100 becquerels per kilogram.The findings have prompted a government investigation into the phy
IndustryNov. 18, 2012
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LG Electronics spend 6 pct of sales in research
South Korean handset maker LG Electronics Inc. said Saturday it spent more than 6 percent of its earnings on research and development through September of this year in a bid to develop high-end products.The company said it had allocated 2.26 trillion won (US$2.08 billion), or 6.06 percent of its sales of 37.4 trillion won earned during in the January-September period, up 1.1 percentage points from a year earlier.Market watchers said South Korea's No. 2 tech giant increased its research fund to d
Nov. 17, 2012
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Higher won dents smaller exporters' business sentiment
Almost nine out of 10 of the country's small and medium-sized enterprises (SMEs) believe the rising local currency against the U.S. dollar will result in a weaker bottom line, data showed Saturday.According to a survey of 112 local SMEs by the Korea Federation of Small and Medium Business, 88.2 percent replied the higher won will have an adverse impact on their earnings.The local currency closed at 1,092.20 won against the greenback on Friday, remaining below the 1,100 won mark since Oct. 25, wh
BusinessNov. 17, 2012
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Seoul shares likely to stay flat next week
The South Korean stock market is likely to be stagnant next week as uncertainties over the U.S. fiscal cliff continue to dent investor sentiment, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,860.83 this week, down 2.29 percent from the previous week, as shares lost ground across the board.Foreign investors went on a selling spree, unloading a net 520 billion won (US$476 million) on the main bourse, with retail investors scooping up a net 80 billion w
Nov. 17, 2012
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LG Electronics spend 6 pct of sales in research
South Korean handset maker LG Electronics Inc. said Saturday it spent more than 6 percent of its earnings on research and development through September of this year in a bid to develop high-end products.The company said it had allocated 2.26 trillion won (US$2.08 billion), or 6.06 percent of its sales of 37.4 trillion won earned during in the January-September period, up 1.1 percentage points from a year earlier.Market watchers said South Korea's No. 2 tech giant increased its research fund to d
IndustryNov. 17, 2012
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Household income up, spending growth tumbles
Annual growth of South Korean households’ monthly income picked up in the third quarter, but their spending grew at its slowest pace in more than three years amid a longstanding economic slowdown, a government report showed Friday.Households’ monthly income averaged 4.14 million won ($3,808) in the July-September period, up 6.3 percent from a year earlier, according to the report by Statistics Korea. In the second quarter, such income grew 6.2 percent from a year ago.Inflation-adjusted household
Nov. 16, 2012
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Seoul, Vienna to expand direct flight services
South Korea and Austria have agreed to significantly increase the number of passenger flights between the countries, Seoul’s transportation ministry said Friday, a move aimed at boosting the countries’ exchanges and lowering travel prices through competition.Currently, only South Korea’s flag carrier Korean Air operates three direct flights between Seoul and Vienna per week, according to the Ministry of Land, Transport and Maritime Affairs.In a two-day aviation meeting held in Austria earlier th
Nov. 16, 2012
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KT’s LTE subscribers exceed 3 million
KT said Friday that the number of its subscribers for the fourth-generation network technology Long Term Evolution service topped 3 million as of last Tuesday.The country’s No. 2 mobile carrier also said that the total number of smartphone owners that use its networks also surpassed the 10 million mark.The two figures were reached 11 months after the company introduced its LTE service named WARP.Being a latecomer in offering LTE services, KT secured 1 million LTE handset owners in June and 2 mil
IndustryNov. 16, 2012
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Bill in favor of taxis stokes controversy
Some lawmakers are pushing to include taxis in the category of public transportation alongside buses and subways, while some say their move is merely to target votes in the Dec. 19 presidential election.Should the bill, aimed at promoting public transportation system, pass the National Assembly, taxis will enjoy more fiscal support by the central and provincial governments.In addition, taxi drivers could be permitted to use bus-only lanes when the laws and regulations are revised.Members of the
IndustryNov. 16, 2012
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Shares down on deepening U.S. fiscal woes, recession
South Korean stocks retreated 0.53 percent Friday as deepening U.S. fiscal woes and concerns about a possible economic recession in the world’s largest economy continued to dent confidence here, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 9.89 points to close at 1,860.83. Trading volume was moderate at 459.1 million shares worth 3.99 trillion won ($3.66 billion) with decliners outpacing gainers 582 to 240.“Investors are awar
Nov. 16, 2012
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Half of foreign asset managers lose money in H1
Nearly half of foreign asset managers operating in South Korea reported a loss in the first half of fiscal 2012, mostly due to the volatile market, industry data showed Friday.According to the data by the Korea Financial Investment Association and the Financial Supervisory Service, 11 out of 23 foreign asset managers, or 47 percent, are estimated to have suffered a shortfall in the April-September period. Foreign asset managers posted a combined net profit of 19.2 billion won ($17.6 million) in
Nov. 16, 2012