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Business
Exim focuses on Middle East, North Africa
The Export-Import Bank of Korea (Korea Eximbank) hosted an international business conference Wednesday aimed at connecting Korean companies with business executives and finance experts in fast-growing regions in the Middle East and North Africa. In a keynote speech at the conference, titled “Shaping the relationship between MENA (Middle East and…
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Myanmar to put low-cost mobile phones into service across country
YANGON — Myanmar telecommunications authorities announced on Wednesday that it will put low-cost mobile phones into service across the country next month. It said that GSM/WCDMA sim cards, which will be sold at a low price of 200,000 Kyats (247 U.S. dollars) since May 3, can be carried and used…
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Business
Korea 2nd on global cartel fines
Korean firms have been slapped with a total fine of 2.4 trillion won ($2.1 billion) by overseas anti-trust regulators since 2000 for price-fixing, the Fair Trade Commission said Tuesday. They had to pay nearly $1.27 billion in fines in the United States, and four out of 10 non-American businesses that…
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Business
Globalization of Korean art
Challenges facing local contemporary art community The last two decade has seen the explosion of the Korean wave or “hallyu” around the world. Today, hallyu is a global phenomenon that encompasses every major aspect of Korean culture, including its music (K-pop) and food (hansik). Recent reports note that Korean cultural…
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Asia’s demographic woes
Asia is aging. Current projections indicate that the working population in most Asian countries will decline over the coming years, if they haven’t started already. In response, calls for greater investment became louder so greater efficiency can compensate for the reduction in raw labour inputs. This is certainly an ideal…
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Business
Samsung, Sony team up on OLED
Sony is seeking to purchase Samsung Electronics’ next-generation advanced organic light-emitting diode (OLED) flat-screens for its new line of TVs. Sony wants its Bravia televisions ― to be marketed as early as next year ― to have Samsung’s OLED screens, officials of the Korean technology firm told The Korea Times,…
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Business
Hollande, Sarkozy heading to French vote runoff
PARIS – Francois Hollande, a mild-mannered French Socialist who wants to take better care of the jobless and the poor, is heading to a presidential runoff election against tough-on-immigration Nicolas Sarkozy in a vote that could alter Europe’s political and economic landscape. Hollande heads into the May 6 second round…
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Business
Snapshot of Korean CEOs
Here is something that corporate CEO hopefuls here should remember ㅡ if they want to be successful, they need to be male, Seoul-born, have graduated from Kyunggi High School and Seoul National University (SNU) with a major in engineering. They are also required to spend 27.7 years working for the…
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Business
Korea sets up global alliance in forestation
Despite increasing demand for timber in line with development in China and India, importers complain of difficulties in securing sufficient amounts due to stiff logging regulations. From the perspective of timber exporters, they counter that logging has exploited forests posing serious environmental threats. Korea has discovered a way to satisfy…
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Business
Is Korea second-tier market for Apple?
Apple’s new iPad was finally released in Korea on Friday. But the much-awaited item seems to be generating as much resentment as excitement due to its late arrival. The device made its debut last month in 10 countries, including the United States, Australia, Canada, France, Hong Kong, Japan, Singapore and…
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