Former police chief summoned over alleged bribery

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Nonghyup Financial eyes Indonesian, Myanmar bank

Nonghyup Financial Group Inc., South Korea's fourth-largest banking group by assets, is considering buying banks in Indonesia and Myanmar in a bid to expand its overseas business and diversify its portfolio, the group's chairman said Monday.Nonghyup Financial is the biggest state-run agric...

Updated : 2015.08.03 11:58

Samsung starts pre-orders for Galaxy Tab S2

South Korea's tech giant Samsung Electronics Co. said Monday it has begun receiving pre-orders for its latest tablet PCs at home which will boast a slimmer and lighter size compared to their predecessors.The Galaxy Tab S2, which will come in two screen sizes, 9.7 inches and 8 inches, will ...

Updated : 2015.08.03 11:51

Mortgage loans continue to soar in July

Mortgage loans extended by major South Korean banks continued to increase in July on the back of a recovery in the local housing market and a low rate trend, industry data showed Monday.The outstanding mortgage lending by seven commercial banks, including Kookmin Bank and Shinhan Bank, rea...

Updated : 2015.08.03 09:49

CJ CGV aims to create over 1,000 ScreenX screens by 2020

South Korea's food and entertainment conglomerate CJ Group is aiming to create more than 1,000 "ScreenX" screens worldwide by 2020, a top company official said Monday."We're going to make this year the starting year for ScreenX to rise as a key platform of movies," Choi Byung-hwan, head of...

Updated : 2015.08.03 09:38

S. Korea's current account surplus hits new high in June

South Korea's current account surplus soared to a fresh record high in June as an increase in the surplus in the goods balance offset a widening service account deficit caused by the outbreak of Middle East Respiratory Syndrome, data showed Monday.The current account surplus reached US$12....

Updated : 2015.08.03 09:35

[Graphic News] Samsung remains No.1 in global cell phone market

Samsung Electronics retained its title of the world’s largest smartphone seller in the second half of this year despite offensive from Chinese mobile phone makers, data showed last week.Samsung sold ...

Updated : 2015.08.02 20:52

Lotte Group sons’ battle turns nasty

 The spat between the two sons of Lotte Group founder and general chairman Shin Kyuk-ho is taking a nasty turn ahead of the coming shareholders meeting to decide his successor.Shin Dong-joo, the firs...

Updated : 2015.08.02 20:01

Financial workers’ union resists wage peak system

By Bae Hyun-jungThe labor union of bank employees has demanded that banks extend the retirement age with no strings attached, lashing back at mass restructuring and the incoming wage peak system.As most banks are pledging to slim down by all means and introducing voluntary retirement schem...

Updated : 2015.08.02 17:22

Samsung, LG to beef up OLED production

The two Korean tech giants Samsung and LG will beef up their production of organic light-emitting diode displays as their liquid-crystal display earnings are at risk due to competition from cheaper Ch...

Updated : 2015.08.02 16:56

E-Class model boosts competition in luxury midsize sedan market

The introduction of a nine-speed transmission offering better fuel economy and driving performance is nothing new in the global automotive industry these days.  However, car buyers and lovers were ex...

Updated : 2015.08.02 16:53

Harley-Davidson Korea hosts cross-country U.S. tour

In a move to grant its customers an unforgettable journey of a lifetime, Harley-Davidson Korea hosted a cross-country motorcycle tour of 14 nights in the United States, which officially concluded last...

Updated : 2015.08.02 16:52

[Photo News] BMW offers ride support to visiting Tom Cruise

 BMW’S RIDE SUPPORT FOR TOM CRUISE --  U.S actor Tom Cruise, who visited Seoul last Thursday to promote his new action move “Mission Impossible 5: Rogue Nation,’’ walks toward the event hall in ...

Updated : 2015.08.02 16:20

[Photo News] FMK offers facebook visitors free download of Maserati's engine sound

Forza Motors Korea, the local importer and distributer of Italian supercar Maserati, launches a brand marketing event to offer Koreans a chance to download the engine sound of Maserati GranTurismo bet...

Updated : 2015.08.02 16:16

S. Korean shipbuilders seek restructuring amid heavy losses

South Korea's top three shipbuilders are pushing to step up restructuring efforts in the second half of 2015 as they posted record losses earlier this year, industry sources said Sunday.  The outlook came as the shipbuilders -- Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine E...

Updated : 2015.08.02 13:58

Hanwha Group vows to expand employment

Hanwha Group, South Korea's 10th largest conglomerate, said Sunday it will sharply increase the number of recruits over the next three years to join government efforts to tackle the nation's high youth unemployment.  The group said it plans to hire more than 5,700 workers in the second h...

Updated : 2015.08.02 13:57