Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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KT pledges better customer satisfaction
Company designates 2011 as the year for improved customer serviceTop executives of KT Corp., the country’s biggest fixed-line service operator, on Monday offered a rare gesture showing their commitment to customer satisfaction Its chairman Lee Suk-chae and two other top officials made foot stamps at the company’s Olleh Campus in southern Seoul. The company designated 2011 as the year for drastic i
Feb. 21, 2011
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IBK has highest labor productivity among banks
The state-run Industrial Bank of Korea led Korean lenders in terms of labor productivity last year, government data showed Monday.According to the Financial Supervision Service, the IBK recorded 181 million won ($163,107) in profit per employee. Shinhan scored the second with 154 million won.Employees at Hana Bank came third with 118 million won and the state-run Woori Bank came fourth with 80 mil
Feb. 21, 2011
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POSCO foundation names prize winners
POSCO TJ Park Foundation announced Monday that this year’s TJ Park Prize will be awarded to a Korea Advanced Institute of Science and Technology scientist, educator and two philanthropists.The foundation, named after POSCO founder Park Tae-joon, has awarded the annual prize for outstanding achievement in the fields of science, education and social services since 2006. KAIST professor Lee Sang-yubT
Feb. 21, 2011
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Lotte Mart to launch cheap TV
Lotte Mart, one of the country’s biggest discount store chains, said Monday that it is putting a 24-inch television on sale at most of their branches for less than 300,000 won ($268).The company stirred controversy last year for selling ultra-cheap chicken, inviting criticism from smaller stores.In a joint effort with a local mid-size firm Moneual, Lotte Mart declared it will target the low-end TV
Feb. 21, 2011
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Korea Express shareholders set March 4 deadline
Korea Express Co.’s controlling shareholders have set a March 4 deadline for initial bids as they sell about 40 percent of Korea’s biggest logistics company, according to a person familiar with the situation.Arrangers Korea Development Bank and Nomura Holdings Inc. sent letters to about 10 domestic investors seeking bids, said the person, who asked not to be named because the information isn’t pub
Feb. 21, 2011
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Korea’s top housing fair kicks off
The Kyunghyang Housing Fair and Housing Brand Fair 2011, the country’s largest building materials and construction exhibition, is to kick off Wednesday, its steering committee said Monday. The two tradeshows were integrated last year, aiming to provide one large cohesive venue for professionals to create a global network.In the five-day event at KINTEX in Goyang, Gyeonggi Province, about 600 compa
Feb. 21, 2011
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KT&G to release new Davidoff
KT&G Corp., Korea’s tobacco giant, said it plans to launch a new version of Davidoff cigarettes in the local market on Wednesday. Davidoff Rich Blue is the second edition of the global premium cigarette brand owned by U.K.-based Imperial Tobacco Group PLC. The cigarette has 3 milligrams of tar, thus offering a milder taste than the first Davidoff Classic’s 6 milligrams, KT&G said Monday. Davidoff
Feb. 21, 2011
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Hyundai Motor to lower builder acquisition price
Hyundai Motor Group and the creditors of Hyundai Engineering and Construction have begun final negotiations over the price of stakes in the builder, with the carmaker expected to push for a reduction.According to industry sources, Hyundai Motor Group is seeking to reduce the amount paid for the 34.88 percent stake in Hyundai E&C due to additional debts the builder was belatedly found to be holding
Feb. 21, 2011
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Samsung develops new faster mobile DRAM
Samsung Electronics Co., the world's No. 2 semiconductor maker, said Monday that it has developed a new memory chip for mobile gadgets that can transfer data at a speed eight times faster than previous devices.The WIDE IO mobile dynamic random access memory (DRAM) chip can transfer data at a speed of 12.8 gigabyte per second, compared with 1.6 gigabyte per second of previous devices, the company s
Feb. 21, 2011
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Androids to run in world's 1st robot marathon
In this photo released by Japanese robot maker Vstone Co., robots wait for the start to demonstration a race during a press conference Wednesday, Feb. 16, 2011. (AP Photo/Vstone Co.)TOKYO (AP) – A technology company is organizing the world's first marathon for robots in Japan, a country known for its love of gizmos.So far, five robots have entered the event, expected to last four days next week. O
Feb. 21, 2011
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SK to spin off life science unit
SK Holdings Co., the holding firm for Korea’s third-largest conglomerate, SK Group, said Friday it plans to spin off its life science business unit in April in a bid to nurture new growth engines.The new entity, tentatively named SK Biopharm, will be launched on April 1 with a paid-in capital of 20 billion won ($18 million), SK said in a regulatory filing.Since launching a drug development busines
Feb. 20, 2011
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Ford teams up with Sollers in Russia
DETROIT (AP) ― Ford Motor Co. is teaming up with Russian automaker Sollers to make and distribute cars in Russia, one of the fastest growing auto markets.Under a deal announced Friday, Sollers will build Fords at Russian plants, helping boost a struggling local industry. Ford will have access to a huge market that could bolster its revenues.Financial details weren’t disclosed, but the automakers s
Feb. 20, 2011
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30 firms to be trained for globalization
Policymakers are set to start offering a support package for 30 promising medium-sized local enterprises from May, aiming to foster them as globally successful firms, the Ministry of Knowledge Economy said on Sunday.The plan, which involves the cultivation of administrative, research and marketing skills, is part of action plans for the roadmap unveiled by the government last March, dubbed “World
Feb. 20, 2011
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POSCO looks to turn byproduct gas into fuel
The world’s fourth-largest steelmaker POSCO announced Sunday that it has signed a memorandum of understanding with the U.S.-based bio-fuel manufacturer LanzaTech to produce ethanol using waste gases generated in blast furnaces.Under the agreement, POSCO will use LanzaTech’s technology to produce ethanol from the carbon-rich waste gases using microbes. The steelmaker plans to build necessary facili
Feb. 20, 2011
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Smartphone top electronics buy in 2011: survey
WASHINGTON (AFP) ― U.S. consumers are more likely to buy a smartphone than any other electronic gadget this year, according to a new survey.Technology research company Gartner said consumers in the United States are more likely to buy a smartphone in 2011 than a personal computer, a basic mobile phone, an electronic book reader, a tablet computer or gaming products.Gartner said the next most popul
Feb. 20, 2011
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Berlusconi girl describes 'bunga bunga' parties: report
ROME (AFP) - Dozens of naked women surround the Italian primeminister vying with each other to arouse him -- Silvio Berlusconi's "bungabunga" parties as reportedly described to prosecutors by a key participant. "After dinner we went into a hall in the basement where the bunga bunga washeld," Karima El Mahroug, a pole dancer nicknamed "Ruby the Heart Stealer", was quoted as saying to investiga
Feb. 19, 2011
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GS chief to head FKI
GS Group chairman Huh Chang-soo was tapped on Thursday to head the Federation of Korean Industries, the country’s largest business organization. The FKI said its executive board and advisers unanimously nominated him as new chairman during their meeting on the day.The 62-year-old chief of the nation’s seventh largest business group had already accepted the offer, it added. Huh Chang-sooHe will su
Feb. 17, 2011
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Chinese shoppers struggle with spiraling prices
BEIJING (AP) ― Spiraling prices have made the grocery store a scary place for Chu Yun, a 27-year-old office clerk.“Prices for everything are going up and it seems it will never stop,” Chu said as she hunted for bargains in a supermarket. “I have no confidence prices can be brought under control this year. I think they will keep going up.”China’s public is struggling with a months-long surge in foo
Feb. 17, 2011
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South Korea, Japan, Europe vie for Brazil bullet train project
The bid for Brazil’s planned $20 billion bullet train venture slated for April is shaping up to be a three-way race between South Korea, Japan and Europe, a Seoul official said Thursday.The head of the Latin American country’s transport regulator ANTT Bernardo Figueiredo said this week that at least three consortia will be competing for the right to build and run a high-speed railway in country. C
Feb. 17, 2011
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Most Koreans not ready for retirement: poll
Only 9 percent of Koreans believe they are financially prepared to retire, a survey showed.The figure is significantly lower than the world average of 30 percent ― 34 percent for Europeans and 32.5 percent for North Americans ― research firm Nielsen Company said.The poll also showed that nearly 40 percent of Koreans are expected to retire before turning 60 years old. The company surveyed 26,000 pe
Feb. 17, 2011