Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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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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Hyundai Heavy adds to SMEs R&D support
The world’s largest shipbuilder Hyundai Heavy Industries announced on Tuesday that it would set up a 30 billion won ($27 million) fund for supporting small and medium sized enterprises’ research and development efforts in collaboration with the Small and Medium Business Administration.The shipbuilder and the Small and Medium Business Administration will each be responsible for raising 15 billion w
Feb. 15, 2011
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Samsung to release low-end smartphone
Device will be priced below $150; company aims to sell 300m cell phones, 7.5m tablet PCs and 6m samrtphones this yearBARCELONA, Spain (Yonhap News) ― Samsung Electronics Co., the world’s No. 2 cell phone supplier, plans to release a cheaper smartphone in an effort to sharply boost its smartphone sales by meeting rising demand for lower-end phones, its mobile chief said Monday. “This year, we will
Feb. 15, 2011
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Apple developing smaller, cheaper iPhones: report
WASHINGTON (AFP) ― Apple is developing new lines of smaller and cheaper iPhones and overhauling its software to facilitate users’ access to entertainment, photos and video, The Wall Street Journal reported Sunday.The new device ― code-named “N97” ― will be about half the size of the iPhone 4 and cost about half as much as Apple’s main line of iPhones, the Journal said, citing a person who saw a pr
Feb. 14, 2011
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Korea Resources, Daewoo submit bid for Australian coal miner
Daewoo International Corp., the trading company controlled by Posco, and Korea Resources Corp. made an initial bid for Whitehaven Coal Ltd., an Australian producer with a market value of A$3.6 billion ($3.6 billion).State-run Korea Resources is leading the bid, Kim Beom-suk, a spokesman for Daewoo International said Monday by phone. The offer was confirmed by Kang Shin Young, a spokesman for Seoul
Feb. 14, 2011
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LG to help nurture bilingual specialists
LG Group said Monday that it would provide bilingual education to 400 children from multicultural backgrounds.In a joint effort with Hankuk University of Foreign Studies, the country’s fourth-largest conglomerate said that it would offer online bilingual education programs to 300 Chinese and 100 Vietnamese elementary school students this year.The group supported about 70 children from multicultura
Feb. 14, 2011
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Hanjin Heavy to close over labor dispute
Shares in Hanjin Heavy Industries & Construction tumbled on Monday after the Korean shipbuilder said it decided to shut down three operations in Korea due to labor strife. Hanjin said in a statement that it had submitted reports to local governments that it would close one shipyard and two plants, saying ongoing strike activity since 2009 had hampered its production.Hanjin, the only unprofitable s
Feb. 14, 2011
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Global telecoms closer to offering open mobile app platform
Major telecoms, including Korea’s KT Corp. and SK Telecom, have moved a step closer to commercializing an open mobile applications platform established by a multinational alliance of telecoms and device manufacturers.At the global mobile industry show which launched in Barcelona Monday, local mobile carriers KT and SKT demonstrated some of their to-be-commercialized applications that follow the gl
Feb. 14, 2011
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Kolon to merge with subsidiary
Kolon Industries Co., a Korean textile maker, plans to buy the shares in subsidiary Cambridge Kolon Co. on the market that it doesn’t own.Cambridge Kolon owners will get 782,580 shares of the merged company, or 0.16 share for every one of the existing securities, on May 16, Kolon said in a regulatory filing on Monday. (Bloomberg)
Feb. 14, 2011
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China profits from solar-power plan
China, the world’s biggest electricity consumer, is figuring out how to capture a larger share of the solar-energy market without losing money. The government will spend at least a year studying Europe’s system of paying above-market prices for solar power before deciding if there’s a better way to spur clean-energy plants across China, said Wu Dacheng, an adviser to national power regulators. The
Feb. 14, 2011
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Samsung unveils upgraded Galaxy S, Galaxy Tab
Samsung Electronics unveiled the upgraded versions of its flagship smartphone Galaxy S and its tablet PC Galaxy Tab in an event one day before the launch of the global mobile industry show in Barcelona on Sunday.In an event called the “Samsung Mobile Unpack,” the world’s second-largest handset maker presented Galaxy S 2 and Galaxy Tab 10.1, while designating 2011 as the year of smart mobile device
Feb. 13, 2011
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Milk shortage from FMD affecting local industries
A nationwide milk shortage caused by the severest foot-and-mouth disease outbreak in Korea’s history is affecting local confectionery and dairy industries, corporate sources said Sunday.Sources from Seoul Milk, Namyang Dairy Product Co. and the Korea Bakers Association said that as of December, the reserves of powdered skim milk stood at just 938 tons or a 77.3 percent drop from 4,137 tons reporte
Feb. 13, 2011
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Toyota said to cut board by half in biggest shake up in 8 years
Toyota Motor Corp., the world’s largest automaker, plans to cut its board to at least 17 members from the current 27 to improve decision-making after a series of product recalls in its biggest management reorganization in 8 years, two people familiar with the company’s plan said. Toyota currently has 27 directors, including the chairman, president, six executive vice presidents and 15 senior manag
Feb. 13, 2011
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GM, Chrysler plan 50% bonus to execs
General Motors Co. and Chrysler Group LLC, which each received government-funded bailouts, may award some managers bonuses of as much as 50 percent of their salary, said four people familiar with the plans. GM plans to pay bonuses to most managers equal to 15 percent to 20 percent of their annual salary and as high as 50 percent to less than 1 percent of its 26,000 U.S. salaried employees, said on
Feb. 13, 2011
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S. Korean mobile carriers to showcase 4G technology solutions in Spain
BARCELONA, Spain (Yonhap) -- South Korean mobile carriers are set to demonstrate in Spain their solutions to the surge in data traffic with fewer base stations and lesser costs, carriers said Sunday. (Yonhap News)KT Corp. and SK Telecom Co. said they can shrink the amount of initial network investment and operation fees with their latest cloud-based long term evolution (LTE) technology, the fourt
Feb. 13, 2011
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Hyundai begins marketing programs for Veloster
Hyundai Motor Co. said Thursday it has launched a marketing program for the Veloster sports coupe releasing limited information about its engine and features. The vehicle will be launched on the local market within the month.The Veloster has an asymmetrical layout ― one door on the driver’s side, and two on the passenger side ― marking Hyundai’s first breaking away from traditional designs. The ve
Feb. 10, 2011
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IMF ignored warnings: report
WASHINGTON (AFP) ― The IMF ignored warnings about the financial crisis from its own top economist and acted like cheerleader for the U.S. economy rather than monitoring it, according to a scathing watchdog report published on Wednesday.The International Monetary Fund “failed to highlight the relevant vulnerabilities” in the U.S. financial system in the run up to the 2008 crisis, according to a 51-
Feb. 10, 2011
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SK Innovation to focus on new markets, tech revolution
SK Innovation Co. CEO Koo Ja-young said Thursday that the firm will speed up the technology revolution and investments in new growth engines with a sales target of 5 trillion won ($4.4 billion) by 2015.The firm, parent of the nation’s biggest oil refiner SK Energy, spun-off of its petroleum and petrochemical operations on Jan. 1. Koo saw the future of the firm in world-leading technologies such as
Feb. 10, 2011
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Asiana Airlines posts all-time record profit
Asiana Airlines, the country’s No. 2 air carrier, reported record high yearly sales of over 5 trillion won ($4.51 billion) in 2010, buoyed by the rising demand for flights, its officials said Thursday.The company said that it reached 5.07 trillion won in sales, an increase of over 30 percent from 2009, and 635.7 billion won in operating profit last year. Both figures are the highest the company ha
Feb. 10, 2011
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Android smartphones top 5 million in Korea
Google-made mobile platform spices up competition against Apple’s iPhoneThe number of people who own an Android-powered smartphone has reached 5 million since it was launched in the local market a year ago.Of the people who own smartphones running on the Android mobile operating system, SK Telecom had the highest number of subscribers ― 3.72 million. It was followed by KT Corp., the exclusive serv
Feb. 10, 2011
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Lotte Group founder’s son promoted to chairman
Lotte Group, a retail-focused Korean conglomerate, promoted Vice Chairman Shin Dong-bin to chairman in a reshuffling carried out Thursday.The group, which operates chains of Lotte Department Store, Lotte Mart and Lotte Super and retail giant GS Group, promoted a total of 172 executives including seven new presidents for its subsidiaries, it said in a statement. Shin Dong-binLotte’s founder and for
Feb. 10, 2011