Most Popular
-
1
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
2
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
3
S. Korean children, teens grow taller, mature faster than before: study
-
4
[Graphic News] Number of coffee franchises in S. Korea rises 13%
-
5
Army takes group action against Hybe for neglecting BTS
-
6
Some junior doctors are returning: Health Ministry
-
7
Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
-
8
[Robert J. Fouser] AI changes rationale for learning languages
-
9
Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
-
10
Woman dangling from power lines rescued by residents holding blanket
-
Hyundai eyes greater dominance in India market
Local unit CEO says its strategy focuses on growing premium brandHyundai Motor Co. has set long-term strategies to go full-throttle in India’s mid-sized and luxury segments to dominate an industry still in its early stages, said Park Han-woo, CEO of Hyundai Motor India.“It is a great opportunity for us that India’s car market is becoming ever more competitive. We’re a strong player in the compact segment already, but our long term plans are to achieve such status in the mid-sized, luxury and spo
MobilityFeb. 5, 2012
-
GS chairman calls on new executives to steer change
GS Group chairman Huh Chang-soo on Friday called on new executives to take the initiative in self-development, innovation and the fulfillment of social responsibility.He stressed the growing role of top managers in coping with ever-intensifying competition and economic uncertainties at home and abroad. “It is surely not easy for us to predict the future and preempt hurdles but what shapes our competitiveness is how fast and aptly we can cope with the change,” Huh said in a meeting with new group
IndustryFeb. 5, 2012
-
Korea, Turkey to sign MOU on $2b power plant
ISTANBUL (Yonhap News) -- South Korean firms will sign a preliminary agreement to build a thermal power plant in southern Turkey on the sidelines of President Lee Myung-bak's trip to the Eurasian nation, officials said Sunday.A consortium of SK E&C and the state-run Korea South-East Power Co. will s
Feb. 5, 2012
-
Zuckerberg may sell about $1.67 billion Facebook stock
Mark Zuckerberg may sell about $1.67 billion of Facebook Inc. stock in the company’s initial public offering to pay off taxes he will owe when he exercises options to buy 120 million shares. (AP)The social network’s chief executive officer will owe taxes on gains related to the award of option
TechnologyFeb. 5, 2012
-
Korea Exchange decides not to suspend trading of Hanwha shares
Korea Exchange, the country’s bourse operator, announced on Sunday it has normalized the trading of Hanwha Corp. shares after deciding not to subject the company to a delisting review in connection with the ongoing probe into alleged embezzlement. The move will allow the stock to be traded without a
Feb. 5, 2012
-
CEO of chip maker Micron dies in plane crash
BOISE, Idaho (AP) -- The image Steve Appleton cultivated as a stunt pilot and off-road rally driver became the perfect metaphor for his wild, 18-year ride as the leader of Micron Technology Inc., where stomach-churning swings from billion-dollar profit to billion-dollar loss required the constitutio
TechnologyFeb. 5, 2012
-
‘Drug makers offered W100b in rebates over 5 years’
(Yonhap News)FTC last year slapped fines on Korean units of Sanofi-Aventis and Janssen Drug makers in Korea have offered nearly 100 billion won ($89.4 million) in rebates between 2006 and 2010, a report showed Sunday, pointing to a rampant illicit practice that has long dragged on one of Asia’
IndustryFeb. 5, 2012
-
Hana Financial seeking to buy Korean American bank in U.S.
Los Angeles (Yonhap) -- Hana Financial Group Inc.,South Korea's No. 4 banking group, said Saturday that it is pushingto acquire a Korean American commercial bank in the United Statesas part of its bid to accelerate expansion abroad. The move comes as Hana Financial Group see
Feb. 4, 2012
-
Analysts rule out key rate move in Q1
Korea’s central bank is expected to stand pat on its key interest rate in the first quarter as murky economic situations and a membership transition in the rate-setting committee is likely to spur a wait-and-see stance, analysts said Friday.The benchmark seven-day repo rate currently stands at 3.25 percent after the Bank of Korea froze the rate for the seventh consecutive month in January, citing increasing downside growth risks stemming from the eurozone debt crisis.The forecast contrasts with
Feb. 3, 2012
-
Bahk raps city’s bus, subway fare hikes
Korea’s top economic policymaker voiced discontent Friday with the decision by the Seoul government to raise public transportation fares, saying it could drive up overall inflationary pressure in Asia’s fourth-largest economy.The Seoul government said Thursday it will raise public transportation fares by 150 won ($0.13) later this month to make up for rising deficits from energy costs and transfer discounts.“We are deeply disappointed with the decision, which came despite our repeated expression
Feb. 3, 2012
-
Korea to support SMEs to boost trade
Korea will intensify its efforts to nurture more small and mid-sized exporting companies to help the nation’s annual trade volume exceed $2 trillion by 2020, the Commerce Ministry said Friday.Korea’s trade volume topped $1 trillion in early December for the first time in its history, making the country the world’s ninth to have ever reached the $1-trillion mark in trade.According to the ministry, the government plans to foster 20,000 more small and mid-sized exporters by 2020 through programs ai
Feb. 3, 2012
-
Fake social network accounts in dispute ahead of elections
Politicians rush to improve Twitter, Facebook profiles amid growing worry over artificial enhancementKorea’s politicians are desperately scrambling to boost their influence on social networks ahead of the parliamentary elections. How desperately? Some allegedly buy new Twitter accounts with more followers, a practice that is muddying their already tainted reputations. Although there are no official numbers of how many fake Twitter, Facebook and other social network accounts are traded in return
TechnologyFeb. 3, 2012
-
Lotte shakes up CEOs of subsidiaries
Lotte Group on Friday replaced the chief executives of about 10 subsidiaries, naming its home shopping arm chief as the head of its department store operator.Lotte Home Shopping CEO Shin Heon was appointed CEO of Lotte Department Store, succeeding Lee Chul-woo who will take charge of the conglomerate’s external affairs.Kim Yong-su, senior vice president and CEO of Lotte Samkang, was promoted to executive vice president and CEO of Lotte Confectionery, replacing Kim Sang-hoo. KP Chemical CEO Huh S
IndustryFeb. 3, 2012
-
Watchdog to probe coffee shop chains
The nation’s antitrust watchdog said Friday it will probe five major coffee shop chains, including Caffe Bene, over allegations of unfair treatment of franchises. The Fair Trade Commission plans to begin the inquiry in April, and focus on unfair practices by the headquarters such as forcing franchises to pay for interior renewals.“We received reports on unfair practices by some of the coffee shop chain headquarters,” an FTC official said.“We plan to launch a sweeping inquiry to help franchise ow
IndustryFeb. 3, 2012
-
POSCO, Hyundai Heavy production increase
POSCO said Friday its net profit last year dropped 11.6 percent to 3.7 trillion won ($3.3 billion) on raw material price hikes and the weak domestic currency despite record sales.The steelmaker said its operating profit fell only 0.3 percent from a year ago to 5.41 trillion won as it increased the use of lower-priced raw materials and recycling of by-products.POSCO’s steel production last year hit its highest point ever at 37.32 million tons, up 10.7 percent from a year earlier` as new productio
IndustryFeb. 3, 2012
-
LG chief: Price will be paid for price-fixing
Chairman Koo calls for executives’ efforts to be fair and become global market leaderLG Group chairman Koo Bon-moo said Friday that he will punish any employee involved in price-fixing, saying it goes against the group’s business policies.In a session held to educate the group’s new top executives, anyone ― regardless of the person’s rank ― will take full responsibility for he or she has taken away the customer’s trust in LG, said Koo.“Price-fixing is an action that can’t be permitted by a group
IndustryFeb. 3, 2012
-
Debates growing over KDB Financial privatization
Ministry’s excluding KDB from list of public agencies ignites pros and consThe government’s recent decision to exclude KDB Financial Group from the list of public corporations has paved the way for the lender to speed up its privatization project, financial sources said.In late January, the Finance Ministry took the state-run financial group off the yearly list of public agencies.But the government’s policy, which has paved the way for KDB Financial to push for a stake sale, is inviting contradi
Feb. 3, 2012
-
New chief named for GM Korea
GM Korea named Sergio Rocha, head of its Argentina, Uruguay and Paraguay branch, the new CEO of the Korea office, the company said Friday. Rocha, scheduled to head the branch from March 1, replaces John Buttermore, who was holding the interim chief position after Mike Arcamone resigned in January. Arcamone left for Canadian aircraft manufacturer Bombardier Commercial Aircraft after two and a half years in Seoul.“We are pleased to have Sergio taking over GM’s growing operations in Korea,” said GM
IndustryFeb. 3, 2012
-
KOSPI holds steady on mixed data
Seoul shares barely budged before the 2,000 mark level Friday as mixed economic data and weaker-than-expected earnings undermined investor sentiment. Analysts projected the benchmark KOSPI to stay above the 2,000 level next week under the scenario that the U.S. jobs indicator continues to improve. The KOSPI lost 0.6 percent to close at 1,972.34, ending a relatively stable week after a three day winning streak. The junior KOSDAQ gained 0.1 percent to 522.59. The local currency traded flat, gainin
Feb. 3, 2012
-
Brains of addicts are inherently abnormal: study
Drug addicts have inherited abnormalities in some parts of the brain which interfere with impulse control, said a British study published in the United States on Thursday. Previous research has pointed to these differences, but it was unclear if they resulted from the ravages of addiction or if they were there beforehand to predispose a person to drug abuse.Scientists at the University of Cambridge compared the brains of addicts to their non-addicted siblings as well as to healthy, unrelated v
TechnologyFeb. 3, 2012