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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Seoul alerts overseas missions to NK terror threats
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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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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Over 60% of S. Koreans support W100m childbirth incentive: survey
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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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Porsche spring service campaign
Stuttgart Sports Cars, Korea’s official Porsche importer, is holding a service campaign from March 2 through to March 31.During the period, the company is offering free checkup services at authorized service centers using the German carmaker’s Porsche Integrated Workshop Information System tester.The company is also offering a 10 percent reduction on parts and related labor charges, including tire
MobilityFeb. 27, 2011
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2011 Freelander 2 hits local market
Jaguar Land Rover Korea launched the 2011 New Freelander2 SD4 on the local market. The vehicle comes with a 2.2-liter turbo diesel engine that puts out 190 brake horsepower.The car manages 13.4 kilometers per liter. New Freelander2 SD4The vehicle is fitted with Land Rover’s Terrain Response system that allows the vehicle to adapt to different terrains as standard. The New Freelander2 SD4 also come
MobilityFeb. 27, 2011
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Hyundai joins German hydrogen car project
Hyundai Motor Co. and Kia Motors Corp. signed a deal with German organizations to take part in the European nation’s government-led Clean Energy Partnership on Friday. Under the agreement, Hyundai Motor Group’s two carmakers will supply hydrogen fuel cell vehicles to the German government’s hydrogen automobile project.“With the MOU, Hyundai and Kia secured a chance to introduce its technology for
MobilityFeb. 27, 2011
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S. Korean manufacturers' sentiment edges down for Q2
South Korean manufacturers' confidence inched down for the second quarter on jitters over currency volatility and rising costs of raw materials, a poll showed Sunday. In its survey of 1,326 local manufacturers, the Korea Chamber of Commerce and Industry (KCCI) said the business sentiment index slipped to 108 for the April-June period from 111 for the current quarter. A reading above 100 means
Feb. 27, 2011
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Volkswagen, Peugeot to recall 3,241 vehicles due to defective parts
French automaker PSA Peugeot Citroen and German automaker Volkswagen AG will recall 3,241 vehicles in South Korea due to defective parts in their braking systems and fuel pipes, the transportation ministry said Sunday. Peugeot's 2,962 vehicles manufactured and sold here between Dec. 15, 2006 and Feb. 24, 2009 are subject to the recall, according to the Ministry of Land, Transport and Maritime
MobilityFeb. 27, 2011
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Nintendo 3-D handheld goes on sale in Japan
TOKYO (AP) _ Nintendo's latest game machine, offering glasses-free 3-D images, went on sale in Japan on Saturday ahead of a global rollout, and analysts say it promises to be the world's first 3-D mass-market product. ``I'm so excited,'' said 9-year-old Natsumi Miyasaka, clutching her brand new blue 3DS portable that her father bought for her. Customer Toyohisa Ishihara shows a Nintendo Co. 3
TechnologyFeb. 27, 2011
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S&P remains negative on Hana Bank's expected acquisition of KEB
Standard & Poor's Ratings Services said Saturday that it continues placing Hana Bank on its "negative watch" list as the lender is getting closer tocomplete the acquiring of Korea Exchange Bank.Hana Financial clinched a deal last November with U.S. buyout fund Lone Star Funds to buy South Korea's fifth-largest lender for 4.69 trillion won ($4.19 billion), which it said would be paid with internal
Feb. 26, 2011
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Hyundai Motor to pay 4.96 trillion won for Hyundai E&C
Hyundai Motor Group, South Korea's top automaker, agreed to pay 4.96 trillion won (US$4.4 billion) to take over a 35 percent stake in the country's biggest builder,sources said Friday. The price, agreed on with creditors of Hyundai Engineering & Construction Co. (E&C), represents a 2.74 percent discount from the carmaker's bid price of 5.1 billion. The price readjustment came after Hyun
IndustryFeb. 25, 2011
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Samsung breaks into biomedical sector
Samsung Group marked its first step into the biopharmaceutical business with the establishment of its joint venture with U.S. drugmaker Quintiles Transnational Corp. The company on Friday said the joint venture will be established during the first half of this year, to be capitalized at 300 billion won ($265.5 million).It will be controlled 90 percent by Samsung Group. Quintiles will hold a 10 per
IndustryFeb. 25, 2011
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Hyundai Motor chair to pay 82.6b won
The Seoul Central District Court on Friday ordered Hyundai Motor Group chairman Chung Mong-koo to pay 82.6 billion won ($73.1 million) in compensation to Hyundai Motor Co. for damages caused by irregular intra-group trading.Aside from Chung, former Hyundai Motor vice chairman Kim Dong-jin has been ordered to pay 8 billion won in compensation to the carmaker.The ruling follows three years after the
IndustryFeb. 25, 2011
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SK Telecom-iPhone 5 expected to hit market
SK Telecom officially announced Friday that it will provide services for Apple’s iPhone 4 as early as next month, bringing an end to its rival KT Corp.’s 15-month long exclusive deal with Apple.The country’s leading mobile carrier SKT has not provided the details on when it will release the smartphone, however, it said it predicts more people will use the popular gadget, using its network and serv
IndustryFeb. 25, 2011
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BASF to invest $3.1 billion in Asia by 2015
BASF chief executive Jurgen Hambrecht speaks during the firm’s yearly press conference in Ludwigshafen, Germany on Thursday.(BASF)LUDWIGSHAFEN, Germany ― Leading global chemical firm BASF plans to expand its presence in Asia by investing 2.3 billion euros ($3.1 billion) over the next five years, company officials said Thursday.The Germany-based firm’s aggressive investment plan comes as the Asia-P
IndustryFeb. 25, 2011
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Samsung Group breaks into biomedical sector
South Korea's top conglomerate Samsung Group said Friday that it will establish a biomedical joint venture with U.S. drugmaker Quintiles Transnational Corp. as part of its efforts to find new growth engines. The joint venture will be capitalized at 300 billion won (US$265.5 million) and be established sometime in the first half of this year, Samsung said, adding work will begin on a plant in Inche
IndustryFeb. 25, 2011
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Lee praised for crisis response
During his three years in office, President Lee Myung-bak is praised for achieving a rapid recovery from the financial crisis and boosting Korea’s economic clout in the world.His government has widened Korea’s free trade relations with major economies, mediated conflicts between traditional and emerging powers as the first host of G20 Summit and pulled off 6.1 percent growth last year to rank seco
Feb. 24, 2011
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Samsung establishes first social enterprise
Samsung Group established its first social enterprise in downtown Seoul on Thursday.The enterprise called the “Hope Network” will hire about 70 teachers and offer education services to about 1,000 children from underprivileged families, company officials said.It will start with the children registered in 30 different study rooms in the regions of Seoul and Gyeonggi Province.The instructors, who ha
IndustryFeb. 24, 2011
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Regulator decides not to allow fourth telecom
The Korea Communications Commission said Thursday that it decided not to allow a fourth telecom to establish in the local market due to its lack of business strategies and funding abilities.During the weekly general meeting, commissioners of the state-run telecom regulator rejected Korea Mobile Internet’s proposed project plan to take position as the fourth telecom.The commission also turned down
Feb. 24, 2011
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SKT to release iPhone 4
SK Telecom, Korea’s top mobile operator, will start selling the iPhone next month in a break from Apple’s practice of selling the smartphones via a single distributor in each major market, industry source said Thursday.“Negotiations between SK Telecom and Apple are in the final stage,” said the source who is familiar with the matter. “As the negotiations are going smoothly, it is virtually decided
IndustryFeb. 24, 2011
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Samsung eyes 6th place in laptop market
Apple’s MacBook Air expected to be firm’s biggest competitionSamsung Electronics aims to become the world’s sixth-largest player in the mobile PC market by establishing itself as a high-end brand, the company’s executive vice president Nam Seong-woo said Thursday.The electronics maker launched a super-slim laptop computer as a part of its strategy to carve a bigger share out of the high-end market
TechnologyFeb. 24, 2011
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BMW to set up social contribution fund
BMW Group Korea announced Thursday that it will set up BMW Korea Future Fund, the first social contribution foundation operated by a foreign carmaker in South Korea.The foundation will be established by BMW Group Korea and the seven official dealers later in the year with an initial investment of 3 billion won ($2.7 million), 2 billion won of which will be raised by the dealers and BMW Group Korea
IndustryFeb. 24, 2011
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FSC chief warns against trading fraud
Financial Services Commission Chairman Kim Seok-dong pledged Thursday to toughen punishment on trading irregularities in the financial industry one day after the government partly suspended Deutsche Bank’s local unit for stock manipulation. Concerning the speculation that Deutsche Bank may pull its investments out of the Korean market, he told reporters, “I don’t care about that (on whether or not
Feb. 24, 2011