-
Business
Free fall slide
LG Chem, Kumho Petro tumble in stock market The local stock market has been highly volatile over the past few weeks amid lingering woes over the eurozone’s debt crisis and a slow recovery by major economies, including the United States. In this unstable market, domestic companies have shown quite contrasting…
Read More » -
Business
Reinventing business model
SK chairman to maximize synergy among affiliates SK Group Chairman Chey Tae-won is stepping up efforts to reinvent the group by redesigning its business portfolio and creating synergy among affiliates under new business line-up. The group’s recent takeover of Hynix Semiconductor, now SK hynix, was the first step for the…
Read More » -
Business
Naver’s monopoly challenged
Local giant to cultivate collaborative ecosystem Over the past 13 years, the local search giant like Naver has focused on providing Korean-language content and serving the local audience. Unlike Google which originally specialized as a search engine that acted as a conduit of existing Web content, Naver started from scratch…
Read More » -
Business
Keangnam to develop infrastructure in Sri Lanka
Keangnam Enterprises, a mid-size local construction company, is making a foray into the Sri Lankan market by helping the country develop its infrastructure. The firm said Sunday that its Chairman Sung Woan-jong agreed with Sri Lankan President Mahinda Rajapaksa to cooperate on infrastructure projects of the Southeast Asian country during…
Read More » -
Business
Wrong message
Kakao Talk scrambles after service disruption Millions of smartphone users complained of disruption Saturday after Kakao Talk, the country’s leading instant messenger service for mobile Internet devices, was paralyzed for several hours. Kakao Talk, which boasts more than 40 million subscribers here, abruptly alerted its users around 2:50 p.m. that…
Read More » -
North Face slapped with biggest price-fixing fine
Korea’s best-selling U.S. outdoor clothing brand, The North Face, was slapped with a fine of 5.24 billion won ($4.62 million) for fixing prices of products available at its retail stores. It is the largest fine levied on a company for retail price fixing. The Fair Trade Commission (FTC) said Sunday…
Read More » -
Business
Naver losing grip in Korea
Portal firm’s growth potential ebbing away as it sticks to comfort zone Naver, Korea’s biggest Web portal, is losing its grip on the domestic market. The local search giant is being cornered, needing to diversify its business portfolio amid a rapid rise of social networking services (SNS), according to market…
Read More » -
Business
Plenty of bang for buck
Samsung Electronics chalks up record profits on mobile sales Samsung Electronics posted its best quarterly operating profit during the first three months of this year and is expected to improve on it during the seasonally-favorable second quarter. The world’s biggest supplier of flat screens, memory chips and smartphones reported 45.27…
Read More » -
Samsung Electronics reports 81% surge in Q1 net
Samsung Electronics Co., the world’s largest maker of computer memory chips, said Friday that its first-quarter earnings surged 81.3 percent from a year earlier, fueled by strong sales of its Galaxy smartphones. Net profit amounted to 5.04 trillion won ($4.44 billion) in the January-March period, compared with a net income…
Read More » -
Business
Tourists flock to Myeong-dong
Cosmetics most popular product among Chinese, Japanese Seoul’s Myeong-dong shopping district is the most popular tourist attraction among Japanese travelers, while Dongdaemun (east gate), another giant shopping area in the capital, is the most sought-after location among Chinese visitors, a survey showed Thursday. Inbound travelers from the two neighboring countries…
Read More »