• 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…

    Read More »
  • 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,…

    Read More »
  • 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.…

    Read More »
  • 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…

    Read More »
  • Business

    What explains big cash advances from Macau?

    Korean financial authorities are taking a harder look on the sharp rise in cash withdrawals by Korean credit card users in Macau. Gamblers are apparently using their credit cards to pay for bets, but Financial Supervisory Service (FSS) officials are also suspicious about bizarre spending patterns in Asia’s casino capital,…

    Read More »
  • Business

    How far can English education go?

    For decades, Koreans’ zeal for learning English has been incomparable. Parents spend more than 20 trillion won ($18 billion) each year on private education for primary and secondary school students and about a third goes to English language education, government statistics show. The amount does not include money spent on…

    Read More »
  • Business

    Appealing to consumers desires’ and fears

    Marketers decieve to win business #1 In the TV commercial of an instant coffee mix, “French Cafe” from Namyang Dairy Products, famous actress Kim Tae-hee drinks the mixed coffee and whispers with a smile, “This is the right time to choose this coffee mix as long as you care about…

    Read More »
  • Business

    ‘Ice age’ in the offing

    Economy trapped in prolonged slow growth The Korean economy has entered a phase of prolonged slow growth where no major shocks exist but a myriad of small risks combine to undermine economic fundamentals at a gradual pace. Simply put, Asia’s fourth-largest economy is not likely to undergo a major crisis…

    Read More »
  • Business

    ‘Jeonse’ blues

    Low earners struggle to find homes amid soaring rents Kim Ji-hye, a 37-year-old housewife in Hannam-dong, Seoul, is concerned as the “jeonse” contract with her landlord will soon expire and she will probably face a drastic rise in her deposit when renewing it. “I’m happy with my neighborhood as well…

    Read More »
  • Business

    We remember

    It has been a year since Apple founder Steve Jobs died at the age of 56 after a long battle with cancer. Arguments are ongoing as to whether the innovation and dramatic changes in living habits and culture he initiated will continue. Early evidence from Korea, a nation fascinated with…

    Read More »