• BOK raises growth outlook to 4%

    New governor indicates rate hike in offing The country’s top central banker Thursday hinted at raising the key interest rate to rein in growing inflationary pressure resulting from economic recovery. “We will consider price stability, economic growth and other factors in shaping our monetary policy,” Bank of Korea (BOK) Governor…

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  • Flea markets booming

    If you find old clothes, toys or small home appliances during your spring cleaning, don’t throw them away. Take them to a flea market. Flea markets are gaining popularity in Korea, with several new ones popping up across the country in the last few years. They include the Songdo Good…

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  • ‘Apple should rather focus on innovation’

    A former Wall Street Journal reporter says that Apple should shift the focus of its business to “innovation” from patent disputes with Samsung Electronics. In a written interview with The Korea Times, Yukari Iwatani Kane said that Apple’s consistent claims that its design patents were copied by Samsung are rather…

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  • Ha tries to stare down new crisis

    Citigroup Korea Chairman Ha Yung-ku, a heavyweight in the Korean banking industry, is battling the biggest challenges of his career. Chief among them are reports that the parent company has left him to grapple with the fallout of recent troubles alone. It comes in the wake of the theft of…

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  • Poor governance saps Kookmin

    KB Kookmin Bank used to be the leading bank in Korea in terms of size and profit. However, the lender fell into disgrace after a series of mishaps and incidents of corruption. Banking industry analysts and market watchers say that Kookmin’s chronic and fundamental problems in governance and organizational structure…

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  • Lotte boss faces daunting challenge

    Lotte Group Chairman Shin Dong-bin is facing his biggest challenge since he took office in 2011. The group’s key affiliates have been involved in a series of scandals, and this is dampening his drive to expand the group’s business scope. Also at risk are his efforts to solidify his position…

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  • Samsung to unveil Note4 in September

    Samsung Electronics plans to unveil the Galaxy Note4 at this year’s technology exhibition in Berlin, Germany, in September, according to company officials Wednesday. “Samsung is considering holding a launch event of the Note4 at the IFA trade fair. It is in the middle of finalizing specification details for the upcoming…

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  • Obama overreacts to selfie brouhaha

    What if David Ortiz had used an iPhone for a selfie with President Barack Obama? Would the White House consider legal action against Apple? These are questions asked by some Koreans after the U.S. presidential office showed displeasure after the photo the Boston Red Sox star took of himself and…

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  • 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…

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  • 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,…

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