• Yuhan-Kimberly leads green innovation

    Tree-planting campaign marks 30th anniversary Yuhan-Kimberly leads environmental conservation efforts in the country through its corporate social responsibility (CSR) program Keep Korea Green. The program, launched in 1984 by a joint venture between Korean pharmaceutical firm Yuhan Corp. and global personal care company Kimberly-Clark, plans to reach the mark of…

    Read More »

  • Carmakers to benefit most from FTA

    Car and machinery manufacturers are expected to benefit most from the Korea-Australia free trade agreement (FTA), which was signed Tuesday, while hardest hit will be agricultural sector, according to experts. “Like Korea’s FTAs with the U.S. and Canada, the FTA with Australia will benefit export-oriented goods, such as cars, components,…

    Read More »

  • Gov’t debt tops W1.1 quadrillion

    The government’s debt, including liabilities of state pension funds, rose sharply last year to 1.117 quadrillion won, according to the government’s settlement report for last year’s budget, released Tuesday. This is up some 215 trillion won from the previous year’s 902 trillion won, and represents 78.2 percent of the country’s…

    Read More »

  • Hyundai hybrid cars have lowest emissions

    Audi slapped with W1 billion fine Hyundai Motor’s hybrid vehicles produced the lowest emissions among domestic vehicles, the Ministry of Environment said Tuesday. According to a survey conducted by the Metropolitan Air Quality Management Office, a unit of the ministry, Hyundai’s Sonata Hybrid topped the list of the lowest emission…

    Read More »

  • Samsung operating profit falls 4.3%

    Samsung Electronics is expected to record an operating profit of 8.4 trillion won ($7.9 billion) in the first quarter, down 4.33 percent from a year ago, as the result of slow smartphone sales growth. That is up 1.08 percent from the previous quarter. According to a preliminary estimate released Tuesday,…

    Read More »

  • KT starts big workforce cut

    KT said Tuesday that it will cut the number of employees drastically under its new CEO Hwang Chang-gyu’s downsizing and cost-cutting initiatives. The firm will conduct “voluntary” retirement programs for those who’ve worked 15 years or longer. A KT official said the plan is “radical and unprecedented,” with the firm…

    Read More »

  • Korea bets on casinos to boost economy

    Experts say locals should be allowed to ensure success Provincial governments are betting on the construction of casinos to boost their economies in accordance with the Park Geun-hye administration’s creativity based economic paradigm. However, experts forecast that the casinos might not be able to compete against rivals in Macau, Singapore,…

    Read More »

  • Dongbu Group gets ultimatum

    Chairman Kim pressed to speed up restructuring Dongbu Group Chairman Kim Jun-ki has received a virtual ultimatum from financial regulators to carry out the group’s self-restructuring actions promptly. The Financial Supervisory Service (FSS) and creditor banks criticized Kim’s reluctance in selling the group’s key affiliates, warning that Dongbu may collapse…

    Read More »

  • NPS sells Samsung, buys SK shares

    The National Pension Service (NPS) cut its stock investments in Samsung Group and Hyundai Motor Group last year, as part of efforts to diversify its portfolio, the pension fund said Sunday. “We have recently decided to decrease the ratio of bonds (amid the U.S. Federal Reserve’s move to pare back…

    Read More »
  • East Asia

    Expats not satisfied with banking services

    Korean banks offer various services for foreigners, but many of these are not utilized due to a lack of promotion. Even some fortunate individuals who received loans from Korean banks, including Mike Weisbart, a Canadian, say getting a loan is still a very challenging process, even for permanent residents. “It’s…

    Read More »