[Indonesia Report] South Korea, Indonesia to talk about FTA
South Korean and Indonesian negotiators are scheduled to hold the first meeting of free trade talks Thursday (July 12) in the Indonesia’s capital city of Jakarta. According to South Korea’s Trade Ministry, the agenda of the meeting is to discuss the scope and coverage of the pact, as well as other issues, Yonhap, Korean News Agency reported […]
[India Report] No imminent fear of El Nino In India: Met Office
This year, the below average rate of rainfall has created a fear of El Nino over the monsoon in India. But the Meteorological Department in New Delhi has denied any chance at this moment but left a provision that it might occur after mid-August. El Niño/La Niña-Southern Oscillation, or ENSO, is a quasiperiodic climate pattern […]
Mobile banking makes big jump
It was in the winter of 2009 when struggling wireless carrier KT brought Apple’s iPhone to these shores. And just like that the Korean finance industry entered a new era of portable banking, a significant transition that is irrevocably reshaping the personal finance experience. While the explosion of mobile Internet devices like smartphones and tablet […]
Anti-violence message to appear on soju bottles
Hite-Jinro, a leading beer and soju maker, said Wednesday that it will attach labels to its products to warn against alcohol-induced violence and promote a sound drinking culture. The company signed a memorandum of understanding (MOU) with the Seoul Metropolitan Police Agency to lead a campaign to eliminate alcohol-fueled violence and help people refrain from […]
2007 election funds to be probed
Prsident’s elder brother arrested for taking bribes Prosecutors said Wednesday they are looking into the allegations that Lee Sang-deuk, President Lee Myung-bak’s elder brother, received illegal political funds from businesses to finance his brother’s presidential campaign in 2007. The elder Lee, a former National Assembly vice speaker, was jailed earlier in the day for taking […]
Rep. Chung’s arrest motion rejected
Saenuri faces criticism for protecting one of their own; Park Geun-hye skips vote Rep. Chung Doo-un of the ruling Saenuri Party survived a parliamentary motion Wednesday to have him arrested on charges of receiving money from the head of a troubled savings bank together with President Lee Myung-baks elder brother, Lee Sang-deuk. Rep. Park Geun-hye, […]
Samsung, POSCO boost cooperation
Two firms to jointly develop new materials POSCO, the world’s third largest steelmaker, has decided to develop next-generation materials for smartphones and other electronic gadgets in cooperation with Samsung Electronics. This is the latest in a series of moves designed to boost business collaboration between Korea’s two leading enterprises. Since POSCO Chairman Chung Joon-yang took […]
Lawmakers express concern over Korea-Japan military pact
Bipartisan lawmakers of the parliamentary foreign affairs committee Wednesday expressed concern over the intelligence-protection agreement with Tokyo. Some of them urged the need to sign an equivalent military pact with China, the nation’s biggest trading partner, to sweep away the allegation that the Korea-Japan pact aims to counter Beijing’s military expansion in the region, while […]
Nation urged to boost birthrate to 1.8
Marking the country’s first Population Day, Wednesday, a state-funded think tank called on the government to take bolder measures to tackle rapid demographic changes. The Korea Institute for Health and Social Affairs (KIHASA) recommended the government boost the birthrate to 1.8 by 2045 to retain the population at its current level _ the birthrate stood […]
IBM Korea ignores outcry of sales agents
A good corporate citizen has two important objectives – first making profits through business activities and second, creating economic value and contributing to society through sharing the fruits of their enterprise. In this regard, IBM Korea cannot be considered a good corporate citizen. The Korean arm of the U.S.-headquartered software giant may excel in the […]