Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Lee Jong-sup resigns as envoy to Australia
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Official campaigning kicks off for April 10 elections
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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FEROOF grows further with global market penetration
FEROOF, a company specializing in manufacturing steel roof tiles for office buildings and private homes, has been recognized for producing high-quality steel roof tiles with its Korean traditional know-how and cutting-edge building technologies. FEROOF has gained the upper hand in the market with its steel tiles, which are six times bigger but weigh one-sixth the weight of clay tiles. Lightweight and durable Feroof tiles are helpful in several ways, as they are easy to install effective cut down
July 24, 2013
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[Power Korea] KEB, living witness to ‘Miracle of Hangang River’
Tracking the history of Korea Exchange Bank is much like scavenging through Korea’s modern economic history following the 1950-1953 Korean War. Established in 1967, KEB has contributed to the nation’s banking industry as one of the oldest banks. The bank, well known for its specialized foreign exchange marketing and corporate banking, started its second takeoff in 2012 after it was acquired by Hana Financial Group to become a sister bank of Hana Bank. Entering the 1960s, the Korean government wa
July 11, 2013
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Autoelex leads global market for brooders
Autoelex has become the producer of the world’s largest number of small and medium-sized digital incubator models, the Korean manufacturer of poultry hatchers and brooders said. Launched in 1991, Autoelex rolled out its first digital hatcher and brooder “RCOM” in 2004. Currently the flagship RCOM series is exported to 40 countries including the U.S., Britain, Germany, Denmark and China, and distributed by about 70 local companies. The hatcher is exclusively distributed by major brooder companies
June 25, 2013
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KHNP seeks shared growth with SMEs with new buying system
Korea Hydro & Nuclear Power Co., the state-run nuclear power plant operator, recently announced a plan to accelerate sustainable growth. The move is in line with the government’s ongoing efforts to promote shared growth with small-and medium-sized enterprises.KHNP said it had started with reorganizing and expanding related departments and was working to enhance technical competence and reform its purchasing methods.The company has come up with several measures to improve small firms’ cashflow. L
May 7, 2013
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Cosmetics fair puts Korean beauty center stage
The secret to Korean-style beauty will be unlocked next month when the curtain is raised on the 2013 Cosmetics & Beauty Expo in Osong, North Chungcheong Province. Up to 2,000 buyers from 300 companies are to participate during the 24-day exhibition from May 3-26, with 1 million people expected to attend, the event organizers said.The event, the first of its kind, is designed to showcase how much Korean cosmetics makers have advanced, along with offering a stage for other global cosmetics manufac
April 11, 2013
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SK Hynix makes overseas efforts for social contribution activities
SK Hynix is going overseas with its social contribution activities, launching global campaigns with a matching grant as well as employees’ donations.The world’s No. 2 memory chipmaker said that it has been gearing up efforts to increase its social contribution abroad in a bid to create a favorable workplace that emphasizes social welfare projects as well as employees’ happiness.The company has been launched a number of projects that include the word “happiness” in its operations since it was acq
April 11, 2013
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Merck CEO named adviser on Gyeonggi investment
Juergen Koenig, CEO of Merck Korea, was appointed as adviser for promoting investment in Gyeonggi Province on Wednesday. The advisory panel, to serve until April 11, 2015, consists of 25 people such as executives in global high-tech companies, and experts in emerging capital markets and the service industry. “Attracting businesses to Gyeonggi Province is a key to creating more jobs; it is challenging, but at the same time very rewarding and contributes a lot to society,” said Gyeonggi Gov. Kim M
April 11, 2013
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Renault Samsung inks MOU for electric cars
Renault Samsung Motors Co., the South Korean unit of French automaker Renault S.A., said Friday that it has signed a memorandum of understanding with the country’s Environment Ministry and six other companies to promote the use of electric cars.Under the deal, Renault Samsung will develop an electric car and sell it below 45 million won. The Environment Ministry, in return, will provide subsidies to companies and public offices that buy electric cars.Renault Samsung and the government will work
March 29, 2013
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Shinhan backs compassionate finance
When Han Dong-woo took office as chairman of Shinhan Financial Group two years ago, his main concern was how to turn the company into one with sustainable growth in the global financial industry characterized by firms’ fast rises and falls.He found the answer by setting humanitarian finance as its core business philosophy and “planting the DNA of compassionate finance” into Shinhan employees.He created the slogan “compassionate finance,” meaning warm, customer-based professionalism in finance, t
March 29, 2013
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Shinhan Bank’s ‘matrix’ yield gains despite slump
Shinhan Bank said Thursday that its “matrix operation,” or business coordination between banks and brokerages, has yielded considerable gains since it introduced the system last year. As a fresh business concept, the matrix was adopted by the country’s major banks with an affiliate brokerage firm, such as Shinhan Bank, Hana Bank and Woori Bank, as early as the beginning of 2012. Shinhan Bank is historically the first bank in Korea, originally established under the name Hanseong Bank in 1897. The
March 28, 2013
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KB Kookmin Card pours effort into sharing
Among countless corporate social sharing programs, KB Kookmin Card’s social contributions specifically aim to bolster the nation as a whole. Embracing the core needs of all age groups and ethnicities is the essential part of the ambitious sharing project. KB Kookmin Card has been one of the “big 4” credit finance card companies, wielding power in the credit card and check card sectors in particular, since its launch in 2011.Applied to the sharing project is the company’s extensive experience dat
March 26, 2013
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BAT Korea supports social sharing with Korean community
Companies’ social contributions are important in helping society stay healthy. Among different corporate management philosophies that abound in Korean society, British American Tobacco Korea has held on steadfastly to social responsibility.The company has over 1,000 employees and operates a manufacturing facility in Sacheon, South Gyeongsang Province.“Some people believe tobacco and social responsibility do not mix,” a BAT Korea spokesperson said. “Tobacco can involve risks, but those risks are
March 5, 2013
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Weak battery demand delays operation at LG’s U.S. plant
LG Chem Ltd., the world’s largest battery maker, said Thursday weak demand for vehicle batteries has led to a delay in the start of its American lithium-ion battery plant’s commercial operation, denying U.S. media reports that the factory is not run effectively.Citing the U.S. Department of Energy Special Report, The Washington Post and other U.S. media reported Wednesday that the factory in Holland, Michigan, into which $142 million of American taxpayer money was injected, is allowing workers t
Feb. 14, 2013
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[Power Korea] POSCO pushes for future growth with energy, premium steel
in response to rising uncertainties in the global steel industry, POSCO’s top management unveiled its strategy for future growth at the beginning of 2012. According to the blueprint titled as the “POSCO Family Vision 2020,” POSCO will seek core business expansion from steel to energy and material. In the course of developing the renewed growth vision, POSCO acquired independent power provider Kyungin Energy, now POSCO Energy, in 2005, plant builder Sung Jin Geotec in 2010 and Daewoo Internationa
Feb. 4, 2013
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[Power Korea] ‘POSCO Way’ path to global steel success
When asked which corporate brands represent Korea, Koreans are likely to pick Samsung, Hyundai Motor or LG without hesitation. In a survey in 2012 on what company Koreans loved, however, POSCO, the nation’s top steelmaker, came ahead of other conglomerates. Despite its privatization in 2000, POSCO has been considered a company for the citizens since its foundation in 1968 because of its history attributing to the nation’s economic miracle starting from scratch. Beyond Korea, POSCO has also grown
Feb. 4, 2013
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RIM launches new name and BlackBerry 10
Canadian smartphone pioneer Research In Motion said it was changing its name as it launched its new BlackBerry 10 smartphone Wednesday.RIM, as it was sometimes called, produced the first wildly popular cell phone, called the BlackBerry, which has struggled to get out from under a wave of rivals that followed, most notably Apple with its iconic iPhone and a host of phones that use Google‘s Android operating system.The Canadian company Wednesday said it would adopt the name of its most familiar pr
Jan. 31, 2013
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Female execs in public sector remain at only 9%
Korea will soon have a woman president for the first time in modern history. But the glass ceiling is still evident in the nation’s public organizations, despite progress in gender equality in other sectors. The proportion of women executives in government departments and public firms was a mere 9.1 percent, or 272 out of 2,993, according to Alio, a website compiling the management information of the public sector on Tuesday.Also, 51.7 percent of the corresponding organizations had no female mem
Jan. 15, 2013
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Samsung expects to post W200tr in sales
Samsung Electronics is expected to post up to 200 trillion won in annual sales based on a record-breaking year in 2012, the company said in a statement Tuesday.Last year, the company estimates that it recorded 201 trillion won of sales, while operating profit reached 29 trillion won. This was because in the fourth quarter, Samsung Electronics is seen to have posted sales of 56 trillion won and an operating profit of 8.8 trillion won. This indicates that sales rose by more than 7 percent compared
Jan. 8, 2013
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Samsung Electronics takes up 20% of stock market cap: data
South Korea’s tech giant Samsung Electronics Co. has increased its presence in the local stock market with its value reaching nearly 20 percent of the total market capitalization, data showed Tuesday.The market cap of Samsung Electronics reached 223.8 trillion won ($210.5 billion) as of Monday, or 19.26 percent of the market total and up 4.3 percentage points from end-2011, according to data compiled by the bourse operator Korea Exchange.Samsung’s market cap had stayed below 20 percent after rea
Jan. 8, 2013
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Dongbu Group inks deal to buy Daewoo Electronics
South Korean conglomerate Dongbu Group signed a contract to take over Daewoo Electronics Corp. on Tuesday, ending a decade-long search for a buyer for the country’s No. 3 electronics firm.The group said its consortium inked the deal with Daewoo Electronics creditors to purchase the appliance maker for 272.6 billion won ($256.4 million).The move comes five months after Dongbu Group was tapped as the preferred bidder of Daewoo Electronics, a former unit of Daewoo Group, one of South Korea’s larges
Jan. 8, 2013