• Hanwha’s solar biz to bounce back

    Hanwha Group predicts that its solar energy businesses will bounce back thanks to lower production costs and a steady increase in demand, the company said Sunday. The conglomerate said it expects that the quarterly sales of its energy business units ― Hanwha Q Cells and Hanwha SolarOne ― will turn…

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  • GDP grows at fastest pace in 3 years

    The economy recorded its fastest growth in three years in the first quarter, according to the central bank, Thursday. The Bank of Korea (BOK) said the nation’s gross domestic product (GDP) rose 3.9 percent from the preceding January-March period. It marks the fastest yearly growth since the first quarter of…

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  • SK hynix enjoys sold sales, profits

    Memory chip maker surpasses 1 trillion won in operating profit SK hynix Thursday said it posted an operating profit of 1.05 trillion won in the first quarter, surpassing the initial market estimation of 978 billion won. The world’s second-largest chip maker is expected to enjoy robust sales for the rest…

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  • Obama to meet business leaders

    U.S. President Barack Obama will meet Korean business leaders Saturday to seek more investment into the U.S., the American Chamber of Commerce in Korea (AMCHAM) said Thursday. “President Barack Obama will host a roundtable business event on April 26 to discuss investment opportunities in the U.S. and the KORUS free…

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  • Foreign firms may buy Pantech, Dongbu HiTek

    Experts are worried that Korea could lose its tight grip on the mobile phone and semiconductor industries because foreign companies are planning to purchase stakes in leading domestic technology firms. Experts said that the Korean government should consider whether or not to allow foreign firms to buy stakes in Dongbu…

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  • Chonghaejin Marine’s ‘real’ owner hunted

    Financial regulators have launched a joint investigation with customs and tax officials into Chonghaejin Marine, the operator of the sunken ferry Sewol, and its owner family. The shipping firm’s majority stakeholder is Chonhaiji, a small shipbuilder controlled by I-One-I Holdings. Major shareholders of the holding firm include two sons of…

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  • KT to reduct workforce by 25%

    KT said Monday that it will cut its total workforce by up to 25 percent. The massive lay-offs are expected to save at least 700 billion won in annual expenses. “A total of 8,320 KT employees applied for the voluntary retirement program. We will terminate contracts with those employees before…

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  • Korea wants to get MSCI’s developed market statues

    Morgan Stanley Capital International (MSCI), the world’s leading provider of investment decision support tools, may include Korea on its list of developed markets this year, experts said Friday. They warned, however, that the country could face difficulties drawing funds from investors while competing with the U.S., Western Europe, Japan and…

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  • Large firms hesitate to invest

    Lotte shows highest cash reserve ratio The average cash reserve ratio of conglomerates soared to a record high last year, data showed Sunday, triggering concerns that their sluggish reinvestment may hinder job creation and economic recovery. According to FN Guide, an online financial information provider, the average reserve ratio of…

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  • East Asia

    Korean games popular in China, Japan

    Critics argue tough regulations curb growth potential K-pop’s rise is fast and furious, representing the country’s booming cultural industry. Yet this doesn’t mean K-pop is the most profitable export item among cultural products. Guess what the No.1 is? Computer games. According to the state-run Korea Finance Corporation, Korea’s games exports…

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