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Business

‘Testosterone is the problem’

If it was called Lehman Sisters, there would have been no global financial crisis in 2008 and the U.S. investment firm would still be around, says Korea International Finance Institute CEO Kim Sang-kyung. Kim, regarded as godmother of women in the financial industry, resorts to the theory of balance to…
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Business

Sense and sensitivity

Does it matter that Kim called Japanese crown prince royal instead of imperial? TOKYO – World Bank President Jim Yong Kim arrived in Tokyo to share ideas with policymakers on how to lift the global economy out of the gutter. However, the Korean-American physician, who took the helm of the…
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IMF calls for cooperation in Northeast Asia

TOKYO ― International Monetary Fund (IMF) Managing Director Christine Lagarde expressed concerns Thursday that the political wrangling between Korea, Japan and China is posing a further threat to the world’s already fragile financial health. “We would hope at the IMF meetings that longstanding differences concerning territorial matters can be resolved…
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Business

NH hits globalization path

Chairman plans to open more overseas branches, beef up project financing NH Nonghyup Financial Group Chairman Shin Dong-kyu said Thursday the group will start actively taking part in overseas project financing and opening branches overseas. “Nonghyup initially didn’t even think of eyeing the global financial business after a previous loss…
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Dokdo row hurts biz with Japan

A growing number of retailers, travel agencies and other businesses catering to Japanese tourists or selling goods in Japan have begun feeling the pinch of deteriorating diplomatic relations with the world’s third largest economy. Since President Lee Myung-bak made an unprecedented visit to Dokdo in August, bilateral ties between the…
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Samsung, Hyundai take up half of top 30 firms’ income

Korea has seen a growing gap between a few leading performers and the rest of the pack amid the prolonged global economic slump. Samsung Electronics, Hyundai Motor and Kia Motors are projected to account for over half of net profits generated this year by the country’s top 30 listed firms…
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Business

CEOs suspected of dodging audit

Questions are being asked about the recent swooping foreign trips of bosses of Korean conglomerates, for what their aides say is “business purposes.” It is particularly curious that such trips are taking place at a time when the nation-wide parliamentary audit of institutions is in progress. There is suspicion that…
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Business

Singapore magnet for K-food business

All roads lead to Singapore. This is a maxim for many Korean food companies seeking successful overseas expansion. The country’s two leading bakery brands — CJ Foodville and SPC — have opened flagship stores in the city-state, testing their strength before moving on to its neighbors that include China, Vietnam,…
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Business

Korea, Japan halt currency swap compact

Decision comes at low point in bilateral ties Korea and Japan will let their expanded currency swap arrangement expire at the end of this month amid a bitter diplomatic row. Policymakers both in Seoul and Tokyo claimed that the agreement between the two nations Tuesday was not a political decision.…
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Business

Nuclear safety concerns growing

Experts stress system overhaul necessary to avoid disaster With nuclear reactors shutting down repeatedly month after month, there is growing concern over whether the nation’s atomic power plant management system has a structural problem that could lead to disaster. Recently published data about a spate of nuclear incidents over the…
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