Santa Claus from Finland in town
If you were one of those who decided to believe Santa Claus didn’t exist after one Christmas Eve when you saw your parents put gifts under the Christmas tree, here is somebody who can restore your childlike innocence. A white-bearded old man from Finland, wearing a symbolic red coat is in town, presenting Christmas gifts […]
Imports of Japanese sake hit record high
Korea’s imports of Japanese traditional alcoholic beverage sake jumped to a record high this year amid growing demand for foreign liquors among local consumers, customs data showed Monday. Korea imported a record high of 4.1 million liters of sake during the January-November period, up 70.2 percent from the same period a year earlier, according to […]
Aides to draw Park’s economic policy
People are now paying keen attention to what direction President-elect Park Geun-hye will steer the Korean economy that has been suffering from sluggish growth due to multiple downside risks both at home and abroad. Policymakers and business leaders are looking to what her economic policies will be. One way to guess this is to look […]
What’s best way to ease hangover?
Year-end binge drinking renews rivalry in ‘cure’ drink market For many Korean company workers, December is a month of binge drinking. They stagger and sway through a variety of year-end parties day after day and in many cases are forced to drink beyond their limits. The year-end binging has drastically increased not only alcohol consumption […]
President-elect’s business network
Park has links with POSCO, Hanwha, GS With Park Geun-hye elected as the next president, market players are paying attention to how close her relationships are with domestic business leaders. Park has an extensive network within the business world. Companies with ties forged with the President-in-waiting include Korea’s biggest steelmaker POSCO, Hanwha Group, GS Group […]
Markets unlikely to be swayed by election
With the presidential election over, policymakers and investors are looking to how the results will affect the future course of financial markets, particularly the stock market. Analysts predict the stock market will receive a short-term boost on the elimination of political uncertainty and the anticipation of stimulative economic policies by the new administration. But the […]
SK Chairman Chey steps down from top post
SK Group Chairman Chey Tae-won has stepped down from the top post of Korea’s third largest conglomerate’s decision-making body to serve as a strategic stakeholder, the group said Tuesday. Kim Chang-geun, vice chairman of SK Chemical, was appointed to chair the group starting January, it said. “Chey, who has served as the group’s head since […]
‘Abenomics’ unnerves Korean exporters
Korean companies are expected to experience another hurdle in their exports as Shinzo Abe’s expected return to power in Japan is highly likely to appreciate the Korean won against the Japanese yen. Conservative ex-premier Abe has pledged to ease credit in an unlimited manner to boost the Japanese economy, which will weaken the value of […]
Wine tops soju in sales
Lotte Mart, the discount chain of retail giant Lotte, said Sunday that its sales of wine exceeded those of soju, the traditional Korean distilled spirit, this year for the first time, by 4.6 percent as of Dec. 9. Wine sales, which accounted for less than 30 percent of soju just 10 years ago, have drastically […]
Power saving drive
Firms compete to save energy to avoid blackout Companies face increasing pressure to create ideas for reducing electricity consumption as the country is bracing for an “unprecedented” shortage of power during the winter. Scores of ideas have been generated and applied to work places as part of efforts to surmount the ongoing crisis triggered […]
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