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Business
Difficlties go on despite financial assistance to Spain
<Nikkei Editorial on June 12> Member nations of European Union(EU) has decided to give Spanish Bank financial assistance of 100 billion Euro (about 10 trillion yen) at maxium. We welcome the decision, though belated, of removing the cause for concern on the part of the regional market. Despite the decision,…
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Business
Legislature to vote on US beef amendments
The Legislative Yuan is scheduled to vote on the so-called beef amendments today. The Democratic Progressive Party (DPP) caucus said yesterday it’s staging an unprecedented 120-hour filibuster that could kill the package. If passed, amendments to Act Governing Food Sanitation would relax Taiwan’s zero-tolerance policy against U.S. beef imports containing…
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Business
Roundup: Wall Street unimpressed by Spain bailout
NEW YORK, June 11 (Xinhua) — U.S. stocks retreated on Monday and closed at session lows following a short rally as enthusiasm about the Spanish bank aid package faded. When the market closed, the Dow Jones industrial average fell 142.97 points, or 1.14 percent, to 12,411.23. The Standard & Poor’…
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Can Korea withstand impact of ‘perfect storm’?
Can Korea withstand the impact of a “perfect storm” ― a swooning toxic Europe, a faltering U.S. recovery and a slowing China? Policymakers are trying to be reassuring, pointing to their huge foreign currency war chest and protections against massive capital outflow Others cite an ever-growing trade dependency, vulnerability of…
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Business
Doosan Group goes paperless with iPad
Doosan Group Chairman Park Yong-maan is a chief executive who quickly adapts to change. He frequently tweets the public and tries out new technologies to stay ahead of the pack. In this spirit of adaptation and innovation, Park is now trying to make Korea’s oldest conglomerate become a paperless operation…
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Business
Samsung changes 2 top officials
Conglomerate adopts emergency footing Samsung Electronics said Thursday that its CEO and Vice Chairman Choi Gee-sung will serve as the head of the group’s future strategy planning division, which will make him the top secretary and right-hand man of Group Chairman Lee Kun-hee. Kwon Oh-hyun, who has been the head…
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Mobile carriers urge KCC to block Kakao’s free phone service
The domestic mobile carriers ― SK Telecom, KT and LG Uplus ― are expected to urge the telecommunications regulator to block Kakao Talk’s free voice service, which started here Tuesday. They claim that the free call service offered by the nation’s most popular mobile messenger service provider could deal a…
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Business
Korea has ability to combat crisis: Moody’s
Korea is well-positioned to weather the worsening global conditions thanks to its fiscal strength, the health of its banking system and manageable external positions, a senior official from Moody’s said. However, the historically high level of household debt, which continues to pose a considerable threat to financial stability, may have…
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Business
Retooling business model
Kakao Talk to enter social commerce market Kakao Talk, Korea’s most popular mobile messenger service, has acquired a social commerce company as part of its efforts to turn lucrative. But experts say the firm will face difficulties ahead. “There’s no guarantee that Kakao Talk’s bet will pay off as the…
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Business
English divide deepens further
The massive gulf between the rich and poor contributes to a dramatic disparity in English skills, government researchers said Monday. With the economy in decay, low-income earners are unable to pay for private language courses while the quality of public education just isn’t cutting it. This marginalizes them in society…
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