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Business
Economics of gold medals
Sports-industry complex powers Korea’s Olympic success Wherever Korea’s Olympic swimming champion Park Tae-hwan goes, three men follow him like his shadow. Physical therapist Park Chul-kyu is responsible for helping to relax his body and mind. Personal trainer Kwon Tae-hyun controls Park’s workout routines as well as what he eats. Interpreter…
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Business
Trade reliance makes Korea vulnerable
The government’s efforts to expand domestic demand have failed, letting its dependence on exports and imports surge over the past years. This may likely open the economy up to great shocks, if the current eurozone crisis gets worse and takes on global proportions. Recent data from the Bank of Korea…
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Korea strikes FTA with Turkey
Korea signed a free trade agreement with Turkey, one of most promising nations in Europe, Wednesday, paving the way for brisk business transactions. Under the pact, Turkey is also expected to serve as a stepping stone for Korean firms to tap into fast growing Middle East and African markets, trade…
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Business
Animal marketing
Department stores open small zoos to attract customers Inside its glass tank a big turtle creeps toward a child tapping the glass as the animal sits down and closes its eyes. In the next cage an iguana is clinging to a dried piece of wood flicking its eerily long tongue…
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Business
Toyota’s breakthrough
Japanese automaker aims to be pioneer in local hybrid market The past three years may have been the most challenging period for Toyota Motor Korea CEO Tommy H. Nakabayashi since he took office in January 2010. From the end of 2009 to early 2010, Toyota Motor was hit hard by…
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Sex criminals banned from driving taxis for 20 years
Murderers, rapists and those convicted of other serious crimes will not permitted to drive a taxi from now on as part of government efforts to prevent offenses committed by cab drivers against female passengers. The Ministry of Land, Transport and Maritime Affairs said Wednesday that a revised law concerning the…
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Business
CEOs seek to capitalize on London Olympics
The London Olympics are, of course, about allowing the world’s best athletes to compete against each other and fans to enjoy the games. But for major business leaders, it is also a good opportunity to boost bottom lines and enhance brand images. Korean business heavyweights are flocking to London to…
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Business
Best way to make Chinese brand names
Effective Chinese character naming is important to make successful inroads into China market. In a report on how to make Chinese brand names, Kotra Beijing Office said Sunday (July 29) that the brand names in Chinese should contain the meanings that can reflect Chinese culture and future trend as is…
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Business
‘Gori No. 1 reactor is safe to operate’
The No. 1 reactor of the Gori nuclear plant in Busan should resume operations to meet surging electricity demand amid the scorching heat wave gripping the nation, according to the state-run operator of Korea’s 21 atomic reactors. There has been a growing call for the reactor to be made operational…
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Hackers leak personal details of 9 million wireless users
Millions of mobile phone users face a potential security breach after hackers gained access to their personal data from telecommunications giant KT, police said Sunday. This provided a damning reminder that the country’s computer security defense is as porous as Swiss cheese. Investigators at the National Police Agency’s cyber terror…
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