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[Weekender] Hiking popularity boosts outdoor market

Despite falling sales in Korea’s overall fashion market, demand for outdoor clothing has risen steadily.On any day of the week, especially on the weekends, you can see groups of people heading out to...

Updated : 2014.10.24 17:22

Electronics firms probed over accounting fraud

The South Korean customs and financial authorities have launched an investigation into suspicions that a mid-sized electronics firm and its affiliate, championed as some of the fiscally healthiest companies, committed accounting fraud amounting to hundreds of billions of won, state officia...

Updated : 2014.10.24 17:12

Former Kia Motors employees indicted over confidential info leak

Three former employees of Kia Motors Corp., South Korea’s No. 2 automaker, have been indicted on charges of leaking confidential information to a Chinese competitor, Seoul prosecutors said Friday.The suspects, including a former member of the board of directors surnamed Choi, are accused ...

Updated : 2014.10.24 17:11

Auto-sector trade surplus shrinks in Q3: customs data

South Korea’s surplus in the automobile sector declined on-year during the third quarter as imports of vehicles jumped on the growing need for foreign brands, customs data showed Friday.South Korea exported a total of 653,000 units of vehicles, which was worth $9.3 billion, during the Jul...

Updated : 2014.10.24 17:11

Hyundai E&C earnings drop 20.1% in Q3

Hyundai Engineering and Construction Co., South Korea’s second-largest builder, on Friday posted a 20.1 percent on-year drop in its net earnings for the third quarter, mainly due to fines paid for anti-trust rule violations. Net earnings totaled 135.1 billion won ($127.3 million).Despite ...

Updated : 2014.10.24 17:11

Hotel construction lures investors

With a growing number of foreign tourists visiting South Korea causing accommodation problems, the hotel construction market has emerged as the most attractive investment destination in the country despite the local housing market slump, industry data showed Friday.Local real estate invest...

Updated : 2014.10.24 17:11

Kia Motors’ net earnings plunge 27.2% in Q3

Kia Motors Corp., South Korea’s No. 2 automaker, said Friday its net earnings for the third quarter plunged 27.2 percent on-year to 657.4 billion won ($619.5 million), due to unfavorable exchange rates that offset strong gains in the total number of cars it sold. Operating profit also dro...

Updated : 2014.10.24 17:11

SK Global Chemical unveils new paraxylene plant in Ulsan

SK Global Chemical and its joint venture partner Japan’s JX Nippon Oil & Energy unveiled a new production plant for paraxylene in Korea’s southeastern city of Ulsan on Thursday. According to SK Glob...

Updated : 2014.10.23 20:56

Daewoo E&C starts Bongdam Prugio sales

Daewoo Engineering & Construction has begun sales of apartments in its latest Prugio complex, dubbed the “Bongdam Central Prugio” that will become the biggest apartment complex in the Bongdam area o...

Updated : 2014.10.23 20:55

Hyundai Genesis gets highest safety test score in Australia, New Zealand

Hyundai Motor Co. said Thursday that its new Genesis premium sedan received the highest ever safety test score in Australia and New Zealand, sidestepping well-established rivals from Japan and Germany.South Korea’s largest carmaker said the Genesis, first unveiled in its home market in la...

Updated : 2014.10.23 20:54

Watchdog probing instant noodle, snack makers for fixing prices

South Korea’s antitrust watchdog has launched a probe into suspicions that major instant-noodle and snack makers were involved in fixing prices, government sources said Thursday.“A probe is underway as there are suspicions that some companies had conspired to hike prices of their product...

Updated : 2014.10.23 20:54

Construction permits for new homes increase for 9th month

The number of construction permits issued for new homes grew from a year earlier in September, marking the ninth consecutive month of such increase, the government said Thursday. According to the Ministry of Land, Infrastructure and Transport, the number of new home permits issued last mon...

Updated : 2014.10.23 20:54

LG CNS, Cisco in talks to codevelop smart city

The leading Korean IT services firm LG CNS is in talks with networking giant Cisco to collaborate on their Internet of Things businesses.“We met executives from LG CNS to discuss collaboration for Io...

Updated : 2014.10.23 20:53

Hyundai Motor says considering dividend hike after property deal

Hyundai Motor is considering raising its dividend sharply and introducing an interim dividend, its president Lee Won-hee said Thursday, in an apparent bid to appease investors angered by its recent $10 billion deal to buy a Seoul property.Lee, who is also chief financial officer, was speak...

Updated : 2014.10.23 20:50

IBK Securities aims to join top 10 brokerages

IBK Securities’ chief on Thursday outlined the ambitious goal of becoming one of the industry’s top 10 brokerages during his term, even though it has yet to reach the top 20 among the 41 in the nati...

Updated : 2014.10.23 20:49