Samsung to unveil Note4 in September
Samsung Electronics plans to unveil the Galaxy Note4 at this year’s technology exhibition in Berlin, Germany, in September, according to company officials Wednesday. “Samsung is considering holding a launch event of the Note4 at the IFA trade fair. It is in the middle of finalizing specification details for the upcoming phablet,” said an official by […]
Obama overreacts to selfie brouhaha
What if David Ortiz had used an iPhone for a selfie with President Barack Obama? Would the White House consider legal action against Apple? These are questions asked by some Koreans after the U.S. presidential office showed displeasure after the photo the Boston Red Sox star took of himself and the President on a Galaxy […]
Yuhan-Kimberly leads green innovation
Tree-planting campaign marks 30th anniversary Yuhan-Kimberly leads environmental conservation efforts in the country through its corporate social responsibility (CSR) program Keep Korea Green. The program, launched in 1984 by a joint venture between Korean pharmaceutical firm Yuhan Corp. and global personal care company Kimberly-Clark, plans to reach the mark of 50 million trees planted nationwide […]
Carmakers to benefit most from FTA
Car and machinery manufacturers are expected to benefit most from the Korea-Australia free trade agreement (FTA), which was signed Tuesday, while hardest hit will be agricultural sector, according to experts. “Like Korea’s FTAs with the U.S. and Canada, the FTA with Australia will benefit export-oriented goods, such as cars, components, oil products and IT products. […]
Gov’t debt tops W1.1 quadrillion
The government’s debt, including liabilities of state pension funds, rose sharply last year to 1.117 quadrillion won, according to the government’s settlement report for last year’s budget, released Tuesday. This is up some 215 trillion won from the previous year’s 902 trillion won, and represents 78.2 percent of the country’s gross domestic product (GDP). The […]
Hyundai hybrid cars have lowest emissions
Audi slapped with W1 billion fine Hyundai Motor’s hybrid vehicles produced the lowest emissions among domestic vehicles, the Ministry of Environment said Tuesday. According to a survey conducted by the Metropolitan Air Quality Management Office, a unit of the ministry, Hyundai’s Sonata Hybrid topped the list of the lowest emission vehicles, followed by Hyundai’s Grandeur […]
Samsung operating profit falls 4.3%
Samsung Electronics is expected to record an operating profit of 8.4 trillion won ($7.9 billion) in the first quarter, down 4.33 percent from a year ago, as the result of slow smartphone sales growth. That is up 1.08 percent from the previous quarter. According to a preliminary estimate released Tuesday, the first-quarter sales reached 53 […]
KT starts big workforce cut
KT said Tuesday that it will cut the number of employees drastically under its new CEO Hwang Chang-gyu’s downsizing and cost-cutting initiatives. The firm will conduct “voluntary” retirement programs for those who’ve worked 15 years or longer. A KT official said the plan is “radical and unprecedented,” with the firm struggling to compete in the […]
Korea bets on casinos to boost economy
Experts say locals should be allowed to ensure success Provincial governments are betting on the construction of casinos to boost their economies in accordance with the Park Geun-hye administration’s creativity based economic paradigm. However, experts forecast that the casinos might not be able to compete against rivals in Macau, Singapore, the Philippines and Japan. In […]
Dongbu Group gets ultimatum
Chairman Kim pressed to speed up restructuring Dongbu Group Chairman Kim Jun-ki has received a virtual ultimatum from financial regulators to carry out the group’s self-restructuring actions promptly. The Financial Supervisory Service (FSS) and creditor banks criticized Kim’s reluctance in selling the group’s key affiliates, warning that Dongbu may collapse like the STX and Tongyang […]
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