• Business

    Roundup: Wall Street unimpressed by Spain bailout

    NEW YORK, June 11 (Xinhua) — U.S. stocks retreated on Monday and closed at session lows following a short rally as enthusiasm about the Spanish bank aid package faded. When the market closed, the Dow Jones industrial average fell 142.97 points, or 1.14 percent, to 12,411.23. The Standard & Poor’…

    Read More »

  • Can Korea withstand impact of ‘perfect storm’?

    Can Korea withstand the impact of a “perfect storm” ― a swooning toxic Europe, a faltering U.S. recovery and a slowing China? Policymakers are trying to be reassuring, pointing to their huge foreign currency war chest and protections against massive capital outflow Others cite an ever-growing trade dependency, vulnerability of…

    Read More »
  • Business

    Doosan Group goes paperless with iPad

    Doosan Group Chairman Park Yong-maan is a chief executive who quickly adapts to change. He frequently tweets the public and tries out new technologies to stay ahead of the pack. In this spirit of adaptation and innovation, Park is now trying to make Korea’s oldest conglomerate become a paperless operation…

    Read More »
  • Business

    Samsung changes 2 top officials

    Conglomerate adopts emergency footing Samsung Electronics said Thursday that its CEO and Vice Chairman Choi Gee-sung will serve as the head of the group’s future strategy planning division, which will make him the top secretary and right-hand man of Group Chairman Lee Kun-hee. Kwon Oh-hyun, who has been the head…

    Read More »

  • Mobile carriers urge KCC to block Kakao’s free phone service

    The domestic mobile carriers ― SK Telecom, KT and LG Uplus ― are expected to urge the telecommunications regulator to block Kakao Talk’s free voice service, which started here Tuesday. They claim that the free call service offered by the nation’s most popular mobile messenger service provider could deal a…

    Read More »
  • Business

    Korea has ability to combat crisis: Moody’s

    Korea is well-positioned to weather the worsening global conditions thanks to its fiscal strength, the health of its banking system and manageable external positions, a senior official from Moody’s said. However, the historically high level of household debt, which continues to pose a considerable threat to financial stability, may have…

    Read More »
  • Business

    Retooling business model

    Kakao Talk to enter social commerce market Kakao Talk, Korea’s most popular mobile messenger service, has acquired a social commerce company as part of its efforts to turn lucrative. But experts say the firm will face difficulties ahead. “There’s no guarantee that Kakao Talk’s bet will pay off as the…

    Read More »
  • Business

    English divide deepens further

    The massive gulf between the rich and poor contributes to a dramatic disparity in English skills, government researchers said Monday. With the economy in decay, low-income earners are unable to pay for private language courses while the quality of public education just isn’t cutting it. This marginalizes them in society…

    Read More »
  • Business

    ‘Korean dream’ has a long way to go

    Shift from brain drain to talent circulation Brain drain has long been issue for Korea because of the large numbers of students and professionals who move abroad. But now, foreign talent is choosing to come here, and encouraging professionals from abroad to continue working in Korea is a priority. S.…

    Read More »

  • NK’s economic reliance on China increases

    North Korea’s trade dependence on China grew by leaps and bounds last year while economic relations with South Korea remain frozen, according to a report released Friday by Korea Trade-Investment Promotion Agency (KOTRA). In 2011, 89.1 percent of Pyongyang’s total external trade came from its neighboring economic powerhouse China recording…

    Read More »