Park asks China to help dissuade N. Korea from nuclear test

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Telecom ministry to crack down on pirate phones

South Korea's telecom ministry said Wednesday it will seek a law revision to slap fines of up to 100 million won ($96,311) on those using mobile phones under borrowed names, a practice used widely in crimes and illegal activities to evade investigation.The Ministry of Science, ICT and Futu...

Updated : 2014.04.23 11:26

Daewoo E&C wins $352m subway construction order in Singapore

Daewoo Engineering and Construction on Tuesday said it had won a $352 million contract to build part of a subway line in the city-state of Singapore.The company said the contract with Singapore’s Land Transport Authority involving the construction of 3.2 kilometers of the Thomson Line sub...

Updated : 2014.04.22 20:57

Korean business failures rise in March

The number of corporate bankruptcies increased in March this year compared to the previous month due mainly to a rise in business failures in the service and construction sectors, the central bank said Tuesday.Seventy-three companies went bankrupt last month, up from the 68 compiled in Feb...

Updated : 2014.04.22 20:52

KT given breather from higher-than-expected number of retirees

South Korea's top fixed-line operator, KT Corp., is expected to get some relief from financial pressure as a significant number of workers applied for itsretirement program, analysts said Tuesday, although the effect of a streamlined workforce won't be long-lived.KT, also the country's No....

Updated : 2014.04.22 11:24

Blaze puts halt to Samsung’s financial services

Samsung’s financial services have been suspended in the wake of a fire at Samsung SDS data center, which runs the system and stores backup data from Samsung’s financial affiliates. Samsung SDS said it blocked the server at the data center to prevent data loss. Samsung Card users appeared...

Updated : 2014.04.21 21:31

SK E&C begins construction of underwater tunnel in Turkey

SK Engineering & Construction said Monday that it had started the digging work for a 5.4 kilometer underwater tunnel, known as the Eurasia Tunnel, under the Bosphorus Strait in Istanbul. The Korean builder held a ceremony to celebrate the beginning of construction on Saturday, with Turkish...

Updated : 2014.04.21 21:28

[SUPER RICH] Superrich sons-in-law

In the cutthroat business world of chaebol, sons-in-law were often considered the elephants in the room. While customs have changed so radically in Korea that it is now not uncommon to see men living ...

Updated : 2014.04.21 21:28

[SUPER RICH] CJ vice chairwoman finds goldmine in cultural industries

Lee Mie-kyung, vice chairwoman of CJ, is a rare breed of Korean superrich who saw a business opportunity in culture and entertainment. Born in Tennessee, U.S., and raised in Seoul, Lee is the Harvard-...

Updated : 2014.04.21 21:14

Top business groups’ retained earnings rate hits record high

The retained earnings rate of Korea’s top 10 conglomerates reached record high levels in 2013 despite their pledges to increase investments and hiring, a report showed Sunday.The internal cash reserves of the 70 listed companies belonging to the largest business groups whose fiscal year e...

Updated : 2014.04.20 20:25

Fiat-Chrysler to produce iconic Jeep in China from 2015

AFP) - Automaker Fiat-Chrysler said on Saturday that it would begin producing the iconic American brand Jeep in China from 2015 to meet demand in the world's largest car market.Fiat-Chrysler -- created by Italy's Fiat acquiring Chrysler of the United States -- will produce three Jeep sport...

Updated : 2014.04.19 14:35

[Weekender] Mix and match for fun eating

Comedian Jeong Hyeong-don recently appeared on the popular TV show “Infinite Challenge,” where he demonstrated how to make “opageti.” The dish was a mixture of ojingeo Jjambbong and Jjapageti ― t...

Updated : 2014.04.18 21:25

[Weekender] ‘Modisumers’ drive product innovation

From food to cosmetics, Korean businesses are increasingly taking advantage of a growing group of customers’ desire to modify products to their tastes and needs ― a group marketing analysts call “m...

Updated : 2014.04.18 21:23

[Weekender] Bomb shots evolve into cocktail culture

Korean drinkers may have a knack for making tasty cocktails.Ranging from the traditional boilermaker, which is dubbed poktanju, to trendy cocktails more recently, a large proportion of popular alcohol...

Updated : 2014.04.18 21:20

[Weekender] DIY beauty products

Cosmetic blogger Choi Eun-ji makes a face mist using leftover toner that’s been sitting on her dressing table for months. Mixing it with purified water bought for 1,500 won ($1.40) at a pharmacy, she...

Updated : 2014.04.18 21:19

POSCO joins bid for Tong Yang Power

POSCO, the nation’s top steelmaker, confirmed Friday that it had submitted a letter of intent to take over Tong Yang Power, the electricity-generating arm of faltering Tong Yang Group. “POSCO Energy, an energy business arm of the group, decided to join the bid with an interest in the the...

Updated : 2014.04.18 21:14