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Business
BMW aims to lead electric car market
Drivers who watched last year’s Hollywood blockbuster “Mission Impossible: Ghost Protocol” probably dreamt of owning a BMW i8, with its sleek, futuristic appearance. Alternatively, an increasing number of people concerned about their budget want electric cars as gas prices continue to rise. Soon, a combination of the two ideals will…
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Business
Alibaba Group to become Yahoo’s major shareholder
In this Aug. 11, 2005, file photo, a man walks past a screen displaying the Yahoo and Ali Baba.com logos before a joint news conference by the companies at the China World hotel in Beijing. (File Photo=AP/NEWSis) HANGZHOU, May 21 (Xinhua) — The Alibaba Group, a leading Chinese e-commerce company,…
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Business
China to import more makgeoli, kimchi from Korea
Japanese and other Asians have become fond of makgeoli, or rice wine, and kimchi, spicy pickled cabbage, in recent years in line with the growing popularity of “hallyu,’’ or the Korean wave. This has provided local makgeoli and kimchi producers with lucrative business opportunities to go beyond the national border…
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Business
SK Telecom showcases LTE technology at expo
YEOSU __ SK Telecom, the country’s largest mobile carrier, is looking to use the Yeosu Expo to showcase its advancements in fourth-generation Long-Term Evolution (LTE) networks and technology. The company’s “We _ Cloud’’ exhibition, which highlights the ubiquity of the Internet moving toward mobile devices, is already one of the…
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Business
Shaky financial market
KOSPI dips below 1800 on Europe worries This week was a nightmare for Korea’s financial markets, which fell sharply due to renewed fears over another economic downturn fueled by the Greek crisis. In the coming weeks, investors are expected to go through a roller coaster ride. The Korea Composite Stock…
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Business
Uncertainty Sinks Asian Equity Market
A TV cameraman sets up a camera at Tokyo Stock Exchange in Tokyo,Friday, May 18, 2012. Asian stocks dived Friday after discouraging U.S. economic reports unnerved investors already worried about the stability of the 17-country euro currency union. Japan’s Nikkei 225 tumbled 2.4 percent to 8,660.23 as signs of weakness…
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Business
Chaebol under siege
Conglomerates targeted in lame duck presidency As the economy turns from bad to worse with income polarization widening and inflation soaring, large family-controlled business groups, known here as chaebol, have become public enemy No.1. Despite the prolonged global economic downturn, Samsung and other leading conglomerates have earned record overseas profits…
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Business
Old habits die hard
New-look Nonghyup fails to impress marketsIn introducing a financial holding company built on its banking and insurance services in March, the National Agricultural Cooperative Federation (Nonghyup) declared it was opening a new era. In a lavish ceremony to mark the occasion, Nonghyup Chairman Choi Won-byung talked in length about how…
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Business
Suprema comes back in big way
Korean biometrics company Suprema, which leads in fingerprint recognition technology, is angling for further growth. The firm can now see an end to worries over a patent lawsuit in the United States that has plagued it for the past few years. “The legal action is practically done. We do not…
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Business
KT&G cigarettes massively smuggled into Pakistan
Billions of KT&G’s Pine brand cigarettes have long been smuggled into Pakistan, most likely from the neighboring Afghanistan, according to multiple sources. The amount of smuggled Pine cigarettes is so substantial that it prompted the Pakistani authorities to formally complain to the Korean government and KT&G last year, according to…
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