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Do bloggers have too much power?

IndustryJul 3, 2011

Case of ‘power blogger’ reveals ugly side of online pundits A total of 4,983 people staged a cyber protest against an online homemaking pundit Sunday morning, calling for an apology and compensation for her public deception. They said 46-year-old Hyun Jin-heui, running one of the nation’s most visited blogs, had arranged sales of an electronic gadget that could harm people’s health and bagged a...
Watchdog mulls stricter rules to curb currency margin trading

Jul 3, 2011

South Korea’s financial watchdog plans to draw up measures to mend the practice of handling currency margin trading in a bid to prevent retail investors from inflicting heavy losses, officials said Sunday. Margin trading allows investors to place heavy bets on currency volatilities with a relatively small amount of money. Currency margin trading can yield huge profits, but it can also inflict he...
Controversy brews over Lone Star’s receipt of massive dividends

Jul 3, 2011

The move by Korea Exchange Bank to offer a record interim dividend to its biggest shareholder Lone Star Funds is sparking concerns about long-term growth for South Korea‘s No. 5 lender, market watchers said Sunday. KEB’s board decided on Friday to pay out a quarterly dividend worth of 1,510 won ($1.42) per share, causing U.S. private equity fund Lone Star to rake in dividends worth 496.9 billion...
Korea-EU FTA opens new doors to economic and cultural exchange

Jul 3, 2011

President of Institute for International Trade, Korea International Trade Association 2011 is a landmark year for trading companies in Korea. This is because Korea is expected to become the ninth country in the world to achieve one trillion dollars in trade volume this year. Amid the shortage of resources and technology, this accomplishment was made possible by Korea’s driven work force just 23 ...
Overseas sales of Galaxy S2 top 3m

IndustryJul 3, 2011

Samsung Electronics Co., the world’s second-largest maker of mobile phones, said Sunday its overseas sales of the Galaxy S2 smartphone topped the 3 million mark 55 days after its launch. More than 3 million units of the Galaxy S2, which features a lighter and thinner body, and a faster processor than its predecessor, have been sold overseas since it was first launched in Britain in late April, a...
Doubts grow over financial supervisory reform

Jul 3, 2011

Skepticism is growing over the performance of the Prime Minister’s Office-led task force to overhaul the nation’s financial supervisory structure. Though the task force was set up in the wake of financial regulators’ failure in oversight of savings banks, the 13-member team has not reached a consensus and has delayed unveiling its measures. The team, launched early May, said it would draw out m...
Trade deficit with Japan falls in H1

Jul 3, 2011

Korea’s trade deficit with Japan fell in the first half, compared with a year earlier mainly because exports by Asia’s fourth-largest economy benefited from Japan’s devastating quake in March, data showed Sunday. Korea’s exports to Japan rose 49.9 percent on-year to $17.7 billion in the January-June period while imports grew 11.3 percent to $32.1 billion, according to data compiled by the Minist...
Watchdog to inspect large financial firms every other year

Jul 3, 2011

Korea’s financial watchdog said Sunday it plans to inspect large local banks and insurers every other year, a change from the current annual checkups, in a bid to ease unintended burdens on financial firms. Instead, the Financial Supervisory Service is seeking to strengthen the sector-wide monitoring system and focus on issue-based inspections when potential systemic risks crop up. In the wake ...
KITA matches 10,000 jobseekers with work

IndustryJul 3, 2011

The Korea International Trade Association said Sunday the number of people who found jobs through its online recruitment services has topped 10,000 in less than two years. The website, named JobTogether (http://jobtogether.net/), was opened in September 2009 as part of KITA’s campaigns to tackle labor shortages in the local trade industry and rising unemployment in Korea. As of May, 10,838 job ...
Korea pension fund to pump W250b into Titleist brand

IndustryJul 3, 2011

Korea’s state pension fund is said to inject at least 250 billion won ($234.3 million) into a Korean-led consortium for its project to buy Titleist golf brand, industry sources said Sunday. The group led by Fila Korea Ltd. struck a deal with Fortune Brands Inc. in May to take over the U.S.-based liquor firm’s golf equipment unit Acushnet for $1.23 billion. Other partners include Mirae Asset Priv...
Finance ministers agree ...on policy coordination

Jul 3, 2011

Finance ministers of South Korea and Japan agreed to step up policy coordination in pushing for “a strong, sustainable and balanced growth,” both sides said. During their meeting in Tokyo on Friday, South Korea’s Finance Minister Bahk Jae-wan and his Japanese counterpart Yoshihiko Noda shared the view that the economy in East Asia still faces risk factors, despite its steady rebound from the glo...
KB’s ATM network frozen for three hours

Jul 3, 2011

Some automated teller machine services of Kookmin Bank, South Korea’s largest lender, were paralyzed for around three hours on Saturday morning, bank officials said, rekindling concerns over banking security in the country. Customers had difficulties depositing and withdrawing money through ATMs across the nation between 7:30 a.m. and 10:20 a.m., according to the officials. Kookmin Bank said it...
Honda Accord on promotional offer

TransportJul 3, 2011

Honda Korea is offering special deals for the Accord mid-sized sedan until the end of the month in celebration of selling more than 40,000 units here, the company said. The company is offering a complimentary DVD-navigation system and free check-ups for up to five years, all on top of 1 million won ($939) cash coupons. The company will cover vehicle registration fees for buyers of the Insight a...
New Hyundai Motor Santa Fe SUV on market

TransportJul 3, 2011

Hyundai Motor Co., Korea’s largest carmaker, said Friday that it started selling the 2012 model Santa Fe sport utility vehicle on the local market. The updated model of the popular SUV has a restyled radiator grille, new headlights and positioning lamps that improve the overall attractiveness of the vehicle, the company said. It also said the new Santa Fe will have 18-inch aluminum wheels, a bl...
Toyota recalls 114,000 hybrid vehicles worldwide

TransportJul 3, 2011

Toyota Motor Corp said it would recall about 114,000 hybrid cars in Japan, Europe and the United States because of faulty transistors in control boards. Toyota said it would conduct a voluntary safety recall in the U.S. involving about 45,500 Highlander hybrid sports utility vehicles and 36,700 Lexus RX 400h sports utility vehicles. Some transistors in the recalled cars were “inadequately solde...

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