Most Popular
-
1
Opposition-led Assembly unilaterally passes bill to probe Marine's death
-
2
Inflation eases in April, continues bumpy ride
-
3
Golden chance to liquidate babies’ gold rings?
-
4
Seoul to more than double military drones by 2026 to counter NK threats
-
5
[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
-
6
Seoul alerts overseas missions to NK terror threats
-
7
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
8
Over 60% of S. Koreans support W100m childbirth incentive: survey
-
9
‘Inside Out 2’ adds four new emotions, explores teenage life
-
10
Questions raised over fair promotion of RM, NewJeans
-
Factiva expects Korean market to grow
Dow Jones’ Factiva, one of the largest digital business information aggregators and archivers in the world, sees a growing interest among Korean companies for its services, which can start at about $2,500 a month.Korea business development manager Kim Sae-hoon said, “Corporations are hungry for reasonable and accurate information. So Korea, even if the information industry is not there yet, we expect it will grow, the media industry is booming here but it’s in the beginning stages.”The average k
Feb. 6, 2012
-
British Columbia beckons Korean firms with tax incentives
A top Canadian executive has expressed hope that more Korean companies will be attracted by British Columbia’s tax incentives.Under the tax benefit program, a company can receive a provincial corporate tax refund of 10 percent by registering an international business in the region. There are also programs where refunds will pay back on the net income of the international financial business.“Increasingly, companies are starting to pay attention to this benefit because as profit margins begin to t
Feb. 6, 2012
-
Queensland to expand Korea ties
Investment chief expects closer relations in energy, food and marine resort sectorsTrade volume between Korea and Australia has soared to more than $27 billion since the two countries established diplomatic relations five decades ago. Korea now is Australia’s third-largest trading partner.At the forefront of that relationship is Queensland Government Trade and Investment Office, which is responsible for attracting business between Korea and one of Australia’s most important trading states.Korea’
Feb. 6, 2012
-
Woongjin Group to sell water purifier maker
Woongjin Group announced Monday that it will sell Woongjin Coway, the nation’s biggest water purifier maker, according to news reports.The news immediately sparked market attention on the reason behind the sale, as the company is a money-making subsidiary for the conglomerate. Coway’s sales last year took up about 27 percent in the conglomerate’s total output. The company also enjoys a share of more than 50 percent in water purifier marketSome industry watchers said the sale may be aimed at secu
IndustryFeb. 6, 2012
-
Carcinogens found in Samsung chip factories: study
Trace amounts of leukemia-linked carcinogens were found in semiconductor-producing factories of Samsung Electronics Co. and other chipmakers, a governmental authority said Monday. “We found that cancer-causing substances are present inside the chip factories,” said Park Jung-sun, head of the s
IndustryFeb. 6, 2012
-
BAT to roll out strong cigarettes
By Shin Hyon-heeBritish American Tobacco Korea plans to introduce a stronger version of its Lucky Strike cigarettes to boost the nascent brand’s presence in the market, the local unit of the multinational group said Monday.The latest product, Lucky Strike Original Filters, will provide a richer and bolder taste than the previous version, and features cork-tipped filters with modern, black packaging, the company said.A pack contains 8 milligrams of tar and will be sold for 2,500 won ($2.20) start
IndustryFeb. 6, 2012
-
KT Q4 net rises 12.5% on one-off factor
Korea’s telecom titan KT Corp. said Monday that its fourth-quarter net profit rose 12.5 percent from a year earlier due to a one-off factor.Net income came to 210.6 billion won ($188.9 million) in the October-December period of last year, compared with 187.1 billion won a year ago, the company said in a regulatory filing.Sales jumped 24.7 percent on-year to 6.4 trillion won over the same period, while its operating profit dropped 16.7 percent to 287.6 billion won in the final quarter of last yea
TechnologyFeb. 6, 2012
-
Israeli ad has Iranians fuming at Samsung
Samsung Electronics is facing a backlash in Iran over a commercial that featured its tablet PC blowing up what appears to be an Iranian nuclear facility.The company has made clear that it did not take part in the production of the advertisement and that Israeli cable television channel HOT had made the clip to promote itself.“Currently, the cable channel has stopped running the commercial on YouTube,” said a Samsung executive. “We’re not planning to take particular action at this point as we hav
IndustryFeb. 6, 2012
-
Queensland hopes to expand business ties with Korea
Investment chief expects closer relations in energy, food and marine resort sectorsTrade volume between Korea and Australia has soared to more than $27 billion since the two countries established diplomatic relations five decades ago. Korea now is Australia’s third-largest trading partner.At the forefront of that relationship is Queensland Government Trade and Investment Office, which is responsible for attracting business between Korea and one of Australia’s most important trading states.Korea’
Feb. 6, 2012
-
British Columbia beckons Korean firms with tax incentives
A top Canadian executive has expressed hope that more Korean companies will be attracted by British Columbia’s tax incentives.Under the tax benefit program, a company can receive a provincial corporate tax refund of 10 percent by registering an international business in the region. There are also programs where refunds will pay back on the net income of the international financial business.“Increasingly, companies are starting to pay attention to this benefit because as profit margins begin to t
Feb. 6, 2012
-
Cultural exports draw $800 million in 2011
Korea raised nearly $800 million from the export of television dramas, movies and K-pop content last year, the Bank of Korea said Monday, raking in the highest amount of revenue since overseas sales began in 1997. The culture industry generated a total of 890 billion won ($793 million) from the Korean Wave or hallyu in 2011, the highest overseas profit since the central bank started collecting related data in 1980. The industry generated no revenue from selling cultural content abroad up until 1
IndustryFeb. 6, 2012
-
Import cars capture 8.9% of Korean market
Foreign carmakers grabbed nearly 9 percent of the automobile market in Korea last month, marking the second-highest monthly share in history.According to the Korea Automobile Importers and Distributors Association, sales of import cars came to 9,441 units in January, up 9 percent from a year earlier.The import cars accounted for 8.92 percent of the combined sales, including made-in-Korea cars, totaling 105,889 units last month.Their market share is the second-highest since they posted 8.96 perce
MobilityFeb. 6, 2012
-
Chaebol’s economic dominance increases
Top 10 conglomerates take up 52.8% in listed firms’ output: reportKorea has seen an unprecedented concentration of wealth in the nation’s top 10 family-owned conglomerates since the global financial crisis in 2008, industry reports showed Monday.Their combined market capitalization and sales reached their highest-ever last year, according to separate reports by Chaebul.com, FnGuide and the Economic Reform Research Institute. The top 10 owner groups saw the market cap of their 90 listed affiliate
IndustryFeb. 6, 2012
-
Shares inch up on better U.S. data
Korean stocks closed a tad higher Monday, lifted by improved U.S. economic data, but the gains were limited on renewed concern over Greece’s default, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 0.79 points, or 0.04 percent, to finish at 1,973.13. Trading volume was heavy at 515.3 million shares worth 7.21 trillion won ($6.43 billion) with decliners outpacing gainers 433 to 400. The KOSPI opened 1.10 percent higher but los
Feb. 6, 2012
-
Retirement pension market grows 71%
Korea’s pension industry grew 71 percent last year after more retirees-to-be subscribed to pension funds in one of the world’s fastest-aging societies, the financial regulator said Monday. The size of retirement pension reserves came in at 49.92 trillion won by December 2011, posting a 71.3 percent jump from 29.15 trillion won a year earlier, the Financial Supervisory Services said. “The flock to the pension market is creating a heated competition to introduce pension funds and insurance,” a FSS
IndustryFeb. 6, 2012
-
Retailers move to boycott Shinhan Card
About 1 million stores participate in protest to demand reduction of service chargesA million retailers nationwide are set to boycott payment via Shinhan Card from Feb. 20.Their protest against the nation’s largest credit card firm is due to the card industry’s lukewarm attitude toward cutting settlement service charges on retailers.Members of the retailer association notified consumers on Monday that they will not accept Shinhan Card for payment of goods.The retailers reportedly demanded cuttin
Feb. 6, 2012
-
Korean cosmetics use Canadian clay
A business relationship that started two decades ago is moving to the next stage as Ironwood Clay Company hooked up with three major local firms to create all-natural skin care products.Company president Rodger Upton first hooked up with Ilyang Pharmaceutical in 1992, but due to poor marketing, the stars did not shine on both parties and Upton’s Nena skincare product exited the country only to be replaced by Nu Skin’s own clay masks.“We are the only certified organic skin care company in Canada,
Feb. 6, 2012
-
Former tax official indicted on charges of helping SK Group evade
A convicted former senior tax official has been additionally indicted on charges of receiving a massive amount of money in return for helping South Korea's third-largest industrial conglomerate SK Group evade tax audits, prosecutors said Monday. Lee Hee-wan, a former director at the Seoul Regional T
Feb. 6, 2012
-
Sony, Panasonic expect larger losses as Samsung dominates
Japan’s biggest makers of TVs, phones and chips say they will lose about $17 billion this year, about three-quarters of what Samsung Electronics Co. will spend on research to lengthen the lead over its competitors.Sony Corp. more than doubled its annual loss forecast for the year ending March 31 as it announced a new chief executive officer, while Panasonic Corp. and Sharp Corp. predicted the worst losses in their histories. Their combined losses compare with the $22 billion that Samsung, Asia’s
IndustryFeb. 6, 2012
-
Scientists decode how the brain hears words
U.S. scientists said Wednesday they have found a way to decode how the brain hears words, in what researchers described as a major step toward one day helping people communicate after paralysis or stroke.MCT By placing electrodes on the brains of research subjects and then having them li
TechnologyFeb. 6, 2012