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Business
Naver: online chaebol?
American Internet giant eBay has been controlling Korea’s electronic commerce markets through its affiliates Auction and Gmarket, but it remains to be seen whether local search king Naver could give it a run for its money. Search giant looks to launch open market service Naver, Korea’s near omnipresent portal accounting…
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Business
Samsung mum on Apple ahead of critical rulings
It seems that Samsung Electronics is beginning to mince its words about its high-profile intellectual property fight with Apple ahead of crucial rulings in Germany. It was just months ago that the Korean technology giant had expressed bullishness in its legal battle with Apple, which doubles as its friend in…
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‘Samsung worker accused of shadowing CJ chairman’
CJ Group has claimed that a Samsung employee has been following its chairman around, demanding an apology from Samsung. Samsung declined to comment until the police conclude an investigation. CJ officials said Thursday that CEO Lee Jay-hyun’s guards caught a 42-year-old worker of Samsung C&T Corp., who they claim had…
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Business
‘Tesco supermarkets create more jobs than mom-and-pop stores’
Lawmakers have recently attempted to regulate discount chains’ efforts to set up convenience stores in city centers as well as residential areas in the name of protecting mom-and-pop stores and ordinary people. However, Home plus Chairman Lee Seung-han said in a recent interview with The Korea Times that its neighborhood…
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Business
Pororo aims to be world’s beloved icon
Strategic marketing grabs global children Standing next to a Pororo statue, Ahn Ye-eun, 4, was jumping nonstop with excitement at a Pororo-themed park in Shindorim, southern Seoul. “She’s been speechless ever since she got here, she’s probably thinking she’s dreaming now,” said Yoo Jung-ran, 60, a grandmother who babysits Ahn…
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Business
Let civic groups handle injustice
Capitalism suggests minimal state intervention in the market. The basic assumption of a free market economy has been challenged here after economic injustice issues such as the clash of interests between mom and pop stores and large retailers run by conglomerates happened. Corporations’ business activities have undercut the profits of…
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Household debt continues to climb
Financial authorities see Korea’s household debt mountain growing steeper in the coming months as banks continue to exploit the demand from families struggling to keep up with the rising costs of living. Amid increasing concerns that the historically high level of personal indebtedness is posing a serious threat to the…
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Business
Gaza Strip, 12hrs Black Out Everyday
Om Sameer, 90, lights a candle in her room during a blackout in Jabaliya refugee camp, northern Gaza Strip, on Feb. 11, 2012. Electricity is reported to be cut for 12 hours every day as part of a main power crisis due to the unstable political and economic situation in…
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Indonesia-US cooperate in developing ‘unconventional gas’
Indonesia and the United States on Monday agreed to cooperate in developing “unconventional gas” in Indonesia as the country will learn from its counterpart about technology to develop non fossil fuel. Evita Legowo, director general of Oil and Gas in the Ministry for Energy and Mineral Resources, said in the…
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Business
Sustainable Development is Top Priority
United Nations (UN) Secretary- General Ban Ki-moon (C) steps into the venue of African Union summit in Addis Ababa, Jan. 30, 2012. When receiving a report presented by UN Secretary-General’s High-Level Panel on Global Sustainability on Monday, Ban said that sustainable development is a top priority for his second term…
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