• West Asia

    Iran workers warn Daewoo protests aren’t over

    The leader of Iranian electronics maker Entekhab Industrial Group’s (EIG) labor union has vowed another major protest in front of the Korean Embassy in Tehran “very soon” if their return of deposit demands from Daewoo Electronics’ creditors are not met. “I can say as the representative of the labor union,…

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  • East Asia

    Elusive chaebol reform

    Candidates struggle to find ways to overhaul conglomerates This is the second in a four-part series analyzing and comparing key election pledges on economic policies promoted by the three major presidential candidates. — ED. Desperate to massage the egos of credit-crunched voters, presidential candidates from both the left and the…

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  • East Asia

    Yeokjeon Market struggles to survive mega retail giants

    SUWON, Gyeonggi Province ― Jeon Hea-ok, 29, recalls the 1990s when Yeokjeon outdoor market near Suwon train station was still bustling with people seven days a week. Her parents ran a small stationery store in the market for several decades, and back then, take-home income was good for them and…

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  • East Asia

    Blackout feared

    Concerns are rising that Korea will face serious power shortages this winter following the unexpected stoppage of two nuclear reactors in Younggwang, South Jeolla Province due to faulty parts. The demand for electricity surges when temperatures fall. Yet it’s believed that the two reactors ㅡ each capable of generating one…

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  • ‘Islam fund’ to be launched for SMEs

    The government plans to join hands with sovereign wealth funds from the Middle East to launch private equity funds (PEF) to support small Korean companies seeking to advance into the rapidly-growing market. To that end, industry sources said the Korea Finance Corporation (KoFC), the state-run lender, is now in talks…

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  • East Asia

    GS to expand business in Singapore

    GS Group, Korea’s eighth largest conglomerate by assets, is seeking to expand its energy, retail and construction businesses in Singapore in line with the company’s growth strategy focusing on Southeast Asian nations. GS Group Chairman Huh Chang-soo convened a meeting of heads of affiliates in Singapore from Sunday to Monday,…

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  • Business

    Road to GMO?

    Biotech giants find opportunity in food insecurity The severe drought in the United States this year is set to take its toll on Korean households’ dining tables. The U.S. accounted for some 40 percent of global corn production in 2010 while the U.S., Argentina and Brazil together produced more than…

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  • South East Asia

    [Indonesia Report] Indonesia will strengthen cooperation with Britain in energy resources

    Indonesia President Susilo Bambang Yudhoyono’s  visits to London last week will promote cooperation between Jakarta and London in the field of energy and resources. According toKompos.com,  Indonesian Minister of Natural and Mineral Resources Jero Wacik who accompanied the president said that Indonesian government asked for more investment from British Oil and Gas Companies. Development of Natural Resource…

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  • East Asia

    ‘Gangnam Style’ signals bright future for Korea

    Psy is becoming an international star through his sensational song “Gangnam Style,” a Billboard hit which has spawned a dance craze. On the surface, it is just a passing fad but many people say that the rise of the Korean singer on the global scene suggests that Korea is moving…

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  • East Asia

    Mega leisure hub in sight

    Incheon to turn two islands into comprehensive leisure complex Korea will create a comprehensive cultural, tourism and leisure complex on a site near the Incheon International Airport, three times bigger than Macao, in a bid to attract more wealthy Chinese tourists. The large-scale development project, designed to turn two islands…

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