• 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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  • Business

    Making headway in world scene

    BMW Korea has emerged as a frontrunner of the German-based automaker’s units across the world not only in terms of sales but also in terms of corporate social responsibility (CSR) programs. BMW Korea CEO Kim Hyo-joon said that the global organizations of BMW are ready to copy the Seoul-based company’s…

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  • Business

    Yeosu Expo officially begins

    The 2012 Yeosu Expo, which will run for 93 days until Aug. 12, officially kicked off Saturday morning. The official opening ceremony was held in front of the digital gallery of the exhibition hall under the presence of the expo committee and Yeosu city officials. At the opening ceremony, the…

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  • Business

    Empty talk

    Big firms playing dumb to challenges of aging population A workforce aging in dog years has been fueling apocalyptic talk about the future of Korea’s economy. Nonetheless, the country’s biggest corporations continue to display a maddening inability to think beyond the next quarter. Policymakers like Strategy and Finance Minister Bahk…

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  • Business

    Hyundai set to beat Volkswagen in market cap

    As far as market share is concerned, Hyundai Motor Group is the world’s No. 5 player. But when it comes to market capitalization, it is closing the gap on the runner-up spot. As of the end of Tuesday, the combined market capitalization of Hyundai Motor Group’s top two brands ―…

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  • Business

    $100 billion encounters

    KB chief to meet Gates, Buffett at CEO summit KB Financial Group Chairman Euh Yoon-dae will discuss international management trends and economic issues next week along with about 100 guests, which will include two of the world’s three wealthiest people. The nation’s top financial group said Wednesday that Euh will…

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