‘Apple CEO would want to drop lawsuit’
Wozniak calls for Korean companies to become more innovative Apple co-founder Steve Wozniak said that the ongoing patent battle between Apple and Samsung Electronics is doing no good to anyone, citing the dispute as a “pain in the ass.” “I have no details and paid no attention about the talks between Apple CEO Tim Cook […]
Blizzard probed over Diablo 3
The government has launched an investigation into Blizzard Entertainment over allegations that the American computer gamemaker has refused to refund Koreans who purchased its latest real-time role-playing game Diablo 3. The Fair Trade Commission (FTC) said the firm is suspected of having violated the country’s law on electronic commerce and commercial contracts. The FTC said […]
Scholars prefer FTA to TPP for East Asian countries
Scholars of South Korea, Japan and China exchange talks under the theme of Nuclear Security and Regional Community in the second East Asian Community Forum held at the International Studies Hall in Korea University on May 26, 2012. The scholars of South Korea and Japan expressed opinion that the Trans-Pacific Partnership (TPP) being pushed ahead by […]
Alcohol, tobacco and wealth
Income gap hardly affects consumption of ‘sin products’ The conventional wisdom holds that if you earn more, you will spend more on alcohol and cigarettes as economists rationalize they are non-essential goods. But this often turns out to not be the case. According to the latest report on household consumption patterns by Statistics Korea, there […]
Smooth transition?
Doodan leader-designate unproven in management skills Korea’s mighty family-owned conglomerates will always talk about who is next in line to lead what they continue to see as family businesses. Doosan Group, which is continuing its transformation from a company reliant on consumer goods to a power in heavy industry and machinery, appears to have picked […]
Korea’s household credit dips in first quarter
Korea’s household credit dipped in the first quarter due to a drop in demand for fresh loans and people cutting back on spending, the central bank said Thursday. Household credit totaled 911.4 trillion won ($774.5 billion) as of the end of March, down 500 billion won from a record high of 911.9 trillion won tallied […]
CEOs pick favorite wines to give, receive and drink
For some businessmen, wine is much more than just fermented grapes. Doubling as a drink and status symbol, it tends to go hand in hand with doing business, providing a delightfully disarming charm to conversations between corporate suits and bringing out the best in the “three-fork” dinner in front of them. It’s not entirely absurd […]
Shilla, Lotte in expansion mode
Hotels rush to build biz hotels for surging foreign tourists Lotte, Shilla and other hotel operators affiliated with large business groups have gone into expansion mode in recent years due to the surging number of Japanese, Chinese and other foreign tourists. They have renovated existing hotels to create more rooms or build low-priced business hotels […]
BMW aims to lead electric car market
Drivers who watched last year’s Hollywood blockbuster “Mission Impossible: Ghost Protocol” probably dreamt of owning a BMW i8, with its sleek, futuristic appearance. Alternatively, an increasing number of people concerned about their budget want electric cars as gas prices continue to rise. Soon, a combination of the two ideals will be available after the German […]
Alibaba Group to become Yahoo’s major shareholder
In this Aug. 11, 2005, file photo, a man walks past a screen displaying the Yahoo and Ali Baba.com logos before a joint news conference by the companies at the China World hotel in Beijing. (File Photo=AP/NEWSis) HANGZHOU, May 21 (Xinhua) — The Alibaba Group, a leading Chinese e-commerce company, announced Monday it will spend […]
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