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Aussie millionaire offers W2.5b for Korean bride

Mar 25, 2011

At least 2,000 women have applied to meet the Australian millionaire who is looking for a Korean wife, marriage consulting agency UVIS said Friday. Among the applicants, women in their 40s make up the majority, the agency added. An Australian millionaire is looking for love and willing to offer more than 2 billion won ($1.7 million) for it, according to a marriage consulting firm. The 80-year-...
Korea’s smartphone users top 10 million

Mar 25, 2011

The state media regulator said Thursday that the number of smartphone owners here exceeded 10 million people earlier this week, surging more than twelvefold from 800,000 in 2009. The Korea Communications Commission said that a total of 10.02 million people used smartphones as of Wednesday, showing a sharp increase since the launch of Apple’s iPhone in Korea in November 2009. From 800,000 in Dec...
Korea’s labor productivity growth slows in Q4

Mar 24, 2011

Growth in Korea’s labor productivity in the manufacturing sector slowed in the fourth quarter of 2010 due to weaker private consumption and business investments, a government report showed Thursday. According to the report by the Ministry of Knowledge Economy, the labor productivity index in the three month period gained just 3.3 percent on-year to 137.0, marking the third straight quarter of sl...
S. Korea to extend anti-dumping duties on Chinese glass

Mar 24, 2011

South Korea's trade commission said Thursday that it has decided to extend anti-dumping duties on Chinese float glass products, citing unfair price cuts. The Korea Trade Commission said punitive duties of 12.04-36.01 percent will be maintained on Chinese imports for the next three years. The decision follows investigations carried out following formal complaints raised by KCC Corp. and Hankuk G...
South Korea, Peru sign free trade agreement

Mar 21, 2011

South Korea formally signed a free trade agreement with Peru on Monday which would broaden its access to the Latin American country’s vast natural resources and fast-growing consumer market. The pact was inked by the two countries’ trade ministers, Kim Jong-hoon and Eduardo Ferreyros, in Seoul two years after they launched negotiations in March 2009. A preliminary deal was made last November. I...
Small firms urged to improve competitiveness

Mar 21, 2011

Small and medium enterprises must take the lead in promoting balanced growth between large companies and their subcontractors, the commerce minister said Monday. In a meeting with heads of smaller companies, Knowledge Economy Minister Choi Joong-kyung said that in order for Korea’s economy to make the next leap forward, SMEs that largely act as subcontractors to conglomerates must become more gl...
Korea needs stronger won to tame inflation: experts

Mar 21, 2011

Korea needs to engineer the local currency’s ascent against the U.S. dollar rather than raise interest rates to contain inflation more effectively, experts said Monday. The government, however, remains opposed to the idea, saying the currency issue should be approached in a broader context as it could have far-reaching ramifications over the overall economy. The argument comes as Korea’s inflat...
Japan quake leads GM Korea to cut production

Mar 21, 2011

SEOUL (AFP) - The South Korean unit of General Motors said Monday it would reduce production this week by up to 10 percent because of a possible lack of parts from Japan following the devastating earthquake. GM Korea -- formerly GM Daewoo -- said it would stop four hours a day of overtime work from Monday at its plants in the western city of Bupyeong and in the southwestern port of Gunsan. The ...
Samsung sending additonal relief aid

Mar 20, 2011

Samsung Group said Sunday it will make an additional donation of supplies to Japan amid a near rush by businesses here to help people in the neighboring country hit by the powerful earthquake and tsunami. The nation’s largest business group earlier gave 100 million yen ($1.23 million) and 2,000 sets of emergency relief supplies, worth about 30 million yen, to Japan’s Red Cross Society. The grou...
Extended Japan crisis could inflict damage on Korean companies

Mar 20, 2011

Damages to South Korean businesses from the quake in Japan are still limited, but they may become more visible and serious if the problems facing Japanese firms become prolonged, market observers said Sunday. The most direct damage to South Korean companies came from the loss of containers containing products awaiting delivery in Japan. The Korea Maritime Institute estimated the country’s shipp...
N.K. sends floral wreath for late Hyundai founder

Mar 20, 2011

North Korea has sent a wreath to Hyundai Group to commemorate the 10th anniversary of the death of Hyundai founder Chung Ju-yung, the conglomerate said Sunday, amid efforts by Pyongyang to improve ties with Seoul that quickly deteriorated following the North’s sinking of a South Korean warship and attack on a border island last year. The wreath from the North’s Korea Asia-Pacific Peace Committee...
KCCI offers relief aid to Japanese quake victims

Mar 20, 2011

Chairman of the Korea Chamber of Commerce and Industry, Sohn Kyung-shik, has sent letters to his Japanese counterparts expressing sympathy for Japan’s earthquake victims. The organization also plans to send the relief funds raised from 71 of its regional chambers to Japan this week, chamber officials said Sunday. In separate letters to the Japanese chamber and the chamber of commerce representi...
Jumbo size burger introduced at GS Supermarkets

Mar 20, 2011

A jumbo burger four times bigger than the McDonald’s bulgogi burger has hit the market. Named “The Greatest Burger,” it is has been available for sale since Friday at GS Supermarkets nationwide. The super-sized burger, which is 25 centimeters in diameter and weighs about 600 grams, is served in a cardboard box, not wrapped in a paper, as it is about the size of a regular-sized pizza. Although ...
Korea’s imports from Japan dip

Mar 17, 2011

Korea’s imports from Japan have been plunging since the recent massive earthquake amid concerns that disruptions in supply of parts and materials from the neighboring country could hurt the economy here, customs data showed Thursday. Before the 9.0-magnitude quake struck Japan last Friday, Korea’s daily weekday imports from the country averaged $303.33 million for this month, according to the da...
Japan quake spells trouble for Korean economy

Mar 17, 2011

Foreign investment banks (IBs) see little short-term impact from last week’s earthquake in Japan on the Korean economy but they are concerned over its longer-term impact as the disaster could eventually hurt the nation’s exports by disrupting the parts supply from the neighboring country, a report showed Thursday. Recent reports on economic conditions at home and abroad by foreign banks includin...

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