China to import more makgeoli, kimchi from Korea
Japanese and other Asians have become fond of makgeoli, or rice wine, and kimchi, spicy pickled cabbage, in recent years in line with the growing popularity of “hallyu,’’ or the Korean wave. This has provided local makgeoli and kimchi producers with lucrative business opportunities to go beyond the national border and secure new customers in […]
SK Telecom showcases LTE technology at expo
YEOSU __ SK Telecom, the country’s largest mobile carrier, is looking to use the Yeosu Expo to showcase its advancements in fourth-generation Long-Term Evolution (LTE) networks and technology. The company’s “We _ Cloud’’ exhibition, which highlights the ubiquity of the Internet moving toward mobile devices, is already one of the most popular draws at the […]
Shaky financial market
KOSPI dips below 1800 on Europe worries This week was a nightmare for Korea’s financial markets, which fell sharply due to renewed fears over another economic downturn fueled by the Greek crisis. In the coming weeks, investors are expected to go through a roller coaster ride. The Korea Composite Stock Price Index (KOSPI) sank further […]
Chaebol under siege
Conglomerates targeted in lame duck presidency As the economy turns from bad to worse with income polarization widening and inflation soaring, large family-controlled business groups, known here as chaebol, have become public enemy No.1. Despite the prolonged global economic downturn, Samsung and other leading conglomerates have earned record overseas profits through exports of electronics, cars […]
Old habits die hard
New-look Nonghyup fails to impress marketsIn introducing a financial holding company built on its banking and insurance services in March, the National Agricultural Cooperative Federation (Nonghyup) declared it was opening a new era. In a lavish ceremony to mark the occasion, Nonghyup Chairman Choi Won-byung talked in length about how there was a grand future […]
Suprema comes back in big way
Korean biometrics company Suprema, which leads in fingerprint recognition technology, is angling for further growth. The firm can now see an end to worries over a patent lawsuit in the United States that has plagued it for the past few years. “The legal action is practically done. We do not think that the initial rules […]
KT&G cigarettes massively smuggled into Pakistan
Billions of KT&G’s Pine brand cigarettes have long been smuggled into Pakistan, most likely from the neighboring Afghanistan, according to multiple sources. The amount of smuggled Pine cigarettes is so substantial that it prompted the Pakistani authorities to formally complain to the Korean government and KT&G last year, according to internal documents obtained by The […]
Making headway in world scene
BMW Korea has emerged as a frontrunner of the German-based automaker’s units across the world not only in terms of sales but also in terms of corporate social responsibility (CSR) programs. BMW Korea CEO Kim Hyo-joon said that the global organizations of BMW are ready to copy the Seoul-based company’s CSR arm, the BMW Korea […]
Yeosu Expo officially begins
The 2012 Yeosu Expo, which will run for 93 days until Aug. 12, officially kicked off Saturday morning. The official opening ceremony was held in front of the digital gallery of the exhibition hall under the presence of the expo committee and Yeosu city officials. At the opening ceremony, the honor guards made a solemn […]
Empty talk
Big firms playing dumb to challenges of aging population A workforce aging in dog years has been fueling apocalyptic talk about the future of Korea’s economy. Nonetheless, the country’s biggest corporations continue to display a maddening inability to think beyond the next quarter. Policymakers like Strategy and Finance Minister Bahk Jae-wan are frequently expressing alarm […]
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