• 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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  • 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,…

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  • 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…

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  • 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…

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