Most Popular
-
1
Contentious grain bill put directly to plenary meeting for vote
-
2
Yoon's approval rating plunges to all-time low
-
3
Will tug-of-war between doctors, government end soon?
-
4
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
5
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
6
[Graphic News] More Koreans say they plan long-distance trips this year
-
7
[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
-
8
North Korea removes streetlights along cross-border roads with South
-
9
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
10
Farming households dip below 1m for first time in 2023
-
Seoul hints at stricter controls on capital flight
Supplementary budget possible to prop up the economy: vice finance ministerThe government is considering fresh measures to prevent sudden capital flight as a “complex set of growing external uncertainties” could destabilize the market, the Finance Ministry said Tuesday.“Capital control measures currently in place have been reasonably effective, but we’re studying the imposition of additional measures in case of excessive cross-border capital flows,” Vice Finance Minister Shin Je-yoon said in a
Jan. 3, 2012
-
20% of ‘Buffett tax’ payers salaried workers
About 65,600 people with more than W300 million yearly income to be affected by new tax High-paid salaried workers would make up only 20 percent of those paying the “Buffett tax,” while the others are expected to be payers of comprehensive income or capital gains tax, a government report found Tuesday. The National Assembly on Saturday passed a controversial bill raising income taxes for the rich. The tax is named for American billionaire Warren Buffett, who has suggested that those in his incom
IndustryJan. 3, 2012
-
Korean banks to expand presence in Asia
Major lenders look beyond China, Southeast Asia for growth in 2012Korea’s four major commercial banks plan to expand their business networks in Asia’s emerging markets this year.In particular, their 2012 targets include countries in central and Southern Asia as well as those in Southeast Asia, China and Japan.“Aside from markets like China, Vietnam and Singapore, the banking industry began actively tapping Kazakhstan, India and Bangladesh,” a local banker said.But he stressed that banks will sti
Jan. 3, 2012
-
Tax agency to intensify probe into big firms, wealthy individuals
SEOUL, Jan. 3 (Yonhap) -- South Korea's tax agency said Tuesday it will beef up its investigation into large companies and wealthy citizens this year, in a bid to toughen its crackdown on tax evasion and expand the nation's overall tax revenue base. The National Tax Service (NTS) plans to intensify
Jan. 3, 2012
-
Hormone linked to Alzheimer's diseases: study
A hormone found in body fat could develop the risk of dementia and Alzheimer's disease in older women, a study found."It is well established that insulin signaling is dysfunctional in the brains of patients with AD, and since adiponectin enhances insulin sensitivity, one would also expect beneficial
TechnologyJan. 3, 2012
-
Critics assail crime laws aimed at people with HIV
NEW YORK (AP) -- A man in Texas is serving a 35-year prison sentence for spitting at a police officer _ because he has the virus that causes AIDS and his saliva was deemed a deadly weapon. In Michigan, an HIV-positive man who allegedly bit a neighbor during an argument faced a bioterrorism charge. C
TechnologyJan. 3, 2012
-
Retailers hail Year of the Black Dragon
Dragons all over from wine and leather bags to underwearThe Chinese zodiac is always the favorite sales promotion theme for local retailers and hotels at the beginning of each year.2012 is the Year of the Black Dragon, which makes the most auspicious animal of the zodiac and symbol of the emperor sound even more powerful and mystifying. In the Chinese zodiac, combinations of 10 heavenly stems and 12 earthly branches, or animal signs, create a sexagenary cycle which makes the Year of the Black Dr
IndustryJan. 2, 2012
-
Hyundai Heavy targets $30.6b orders this year
Hyundai Heavy Industries Co., South Korea’s leading shipbuilder, said Monday that it is aiming to win $30.6 billion worth of orders this year, up nearly 20 percent from last year.The shipyard said it is also targeting sales of 27.54 trillion won this year, compared with last year’s 25.2 trillion won.Hyundai Heavy said its shipbuilding orders jumped 48 percent on-year to $25.5 billion in 2011, helped by growths of its shipbuilding and offshore plants businesses.The recent rise in vessel orders an
Jan. 2, 2012
-
Tycoons lay out goals, plans for 2012
Business leaders pledge to turn crisis into opportunityChiefs of major conglomerates laid out their New Year’s goals and plans for their businesses on the first day of work this year.Samsung Group chairman Lee Kun-hee said the country’s biggest conglomerate should think outside the box and place more emphasis on new projects, new products and new technologies in his New Year’s message on Monday.Lee said the group’s competitiveness not only comes from its people and technologies but also from soc
IndustryJan. 2, 2012
-
Hyundai, Kia set sales goal of 7 million units
Hyundai Motor Group has set its sales target for this year at 7 million, chairman Chung Mong-koo said Monday.In a New Year’s message to his staff, Chung said the automotive group raised its 2012 sales target by 400,000 vehicles from its sales of 6.6 million units in 2011.In a bid to achieve the 7 million target for Hyundai-Kia vehicles, he said, the group has to keep up with fast-changing global trends by setting up an organized cooperation system for better communication among production facili
MobilityJan. 2, 2012
-
Seoul shares inch up 0.03% on tech gains
Korean stocks edged up 0.03 percent Monday, boosted by gains in tech firms on more positive signs of the U.S. economy, but the gain was limited due to lingering European debt woes, analysts said. On the first trading session of the year, the benchmark KOSPI rose 0.63 points to 1,826.37.Trading volume was moderate at 317.3 million shares worth 3.3 trillion won ($2.85 billion), with losers outnumbering gainers 334 to 487.The local currency ended at 1,155.8 won to the greenback, down 4 won from Thu
Jan. 2, 2012
-
KDB, Woori to revitalize sale projects
KB Financial to seek M&As if necessary; Eximbank to push for bank name changeKDB Financial Group chairman Kang Man-soo and Woori Financial Group chairman Lee Pal-seung have clarified their resolve to privatize the state-funded groups.In his New Year message to KDB Financial staff, Kang said the group will “expand global networks” to become a leading bank in Asia and “revitalize the plan to sell shares” held by the government.This year’s business policy of KDB Financial is drawing wide interest ―
Jan. 2, 2012
-
KT aims for 4 million LTE subscribers
KT Corp. will launch the long-awaited Long Term Evolution service on Tuesday, rekindling competition for faster smartphone services among local telecom carriers. KT said it aims to secure 4 million LTE subscribers within the year by completing nationwide coverage in 84 cities by April, the same level of coverage as market leader SK Telecom, which started the service in July.“The company’s LTE launch has been delayed for more than a month. Despite our late start, we will introduce a more complete
IndustryJan. 2, 2012
-
Korean automakers see sharp sales growth in 2011
Korean automakers announced on Monday that their 2011 sales jumped on solid demand overseas, despite the gloom that hit other sectors because of problems in the eurozone. Hyundai Motor Co., Korea’s leading automaker, said Monday that its 2011 sales increased 12.3 percent from a year earlier, propelled mainly by strong overseas demand for its vehicles. The carmaker said it sold more than 4.05 million vehicles overall last year, up from 3.60 million units in 2010. Domestic sales also moved up 3.6
MobilityJan. 2, 2012
-
W2.9tr added to farmers’ FTA support budget
The government will provide an additional 2.9 trillion won ($2.5 billion) in support to cushion the impact of the Korea-U.S. Free Trade Agreement on farmers and fishermen.The Finance Ministry plans to make an additional outlay of 2 trillion won in direct financing on top of another 0.9 trillion won in tax benefits for the industry that stand to lose competitiveness with the inflow of cheaper goods under the reduced tariffs.Support for agriculture will now total 54 trillion won until 2017, includ
Jan. 2, 2012
-
‘Social responsibility’ rises as new keyword for Samsung
Samsung chairman highlights gaining public’s trust, thinking outside the boxSamsung Group chairman Lee Kun-hee said the country’s largest conglomerate will concentrate on corporate social responsibility in 2012 at its New Year’s greeting at the Shilla Hotel in Seoul on Monday.“We will take full social responsibility as the nation’s representative firm,” he said, adding that the group’s competitiveness not only comes from its people and technologies but also from society’s trust.With this year’s
IndustryJan. 2, 2012
-
Industry magnates lay out New Year’s plans
Business leaders pledge to turn crisis into opportunityChiefs of major conglomerates laid out their New Year’s goals and plans for their businesses on the first day of work this year.Samsung Group chairman Lee Kun-hee said the country’s biggest conglomerate should think outside the box and place more emphasis on new projects, new products and new technologies in his New Year’s message on Monday.Lee said the group’s competitiveness not only comes from its people and technologies but also from soc
IndustryJan. 2, 2012
-
Hyundai Group chief calls for preparedness for N. Korean business
The chairwoman of Hyundai Group said Monday that her company needs to be well prepared for resuming its stalled North Korean business in 2012 in the aftermath of the death of the communist state’s leader last month.Hyundai Asan Corp., the inter-Korean business arm of Hyundai Group, has operated the tour program to the North’s scenic Mount Kumgang for a decade. However, South Korea halted the tour program in 2008 following the shooting death of a South Korean tourist at the resort.Hopes are high
IndustryJan. 2, 2012
-
Europe crisis top concern for S. Korea‘s financial sector: poll
The ongoing eurozone sovereign debt crisis is expected to be the main source of concern for South Korea’s financial sector in 2012, a poll said Monday.The survey of 250 financial firms by the Korea Chamber of Commerce and Industry showed 81.6 percent of the respondents saying that debt problems facing many European countries could affect the industry as a whole. “The eurozone issue will remain the single largest risk factor,” the KCCI said. “Since it is not likely to be resolved in a short perio
Jan. 2, 2012
-
‘Savings banks issued loans under false names’
A savings bank that came close to being suspended last year was found to have extended loans worth billions of won under borrowed names, sources said Monday.The finding comes as six troubled savings banks in Korea face a make-or-break moment after the grace period for penalties against the lenders with substandard capital ratios expired late last month.In mid-September, Korea’s financial regulators suspended business operations of seven troubled savings banks as part of its efforts to overhaul t
Jan. 2, 2012