Companies doing business here will face tougher rules on inter-subsidiary dealings from as early as the end of December, antitrust authorities said Sunday. The Fair Trade Commission on Sunday put a revision to the antitrust law on public notice with an aim to step up its vigilance on illegal inter-affiliate trade. Currently, 217 companies should disclose the details of their in-house transactio...

Korean retailers are launching promotions to target Chinese golden week, which starts Saturday. Industry sources expect that more than 2 million Chinese people will travel abroad during the seven-day holiday starting on Oct. 1, China’s national foundation day. With tens of thousands of Chinese tourists expected to visit Korea during the period, major department stores are seeking to bounce back...

Korea Electric Power Corp. will seek to introduce a regulation for controlling electricity consumption when demand spikes. At the parliamentary audit on Friday, the power company said it will push to have such a measure included in related laws in order to prevent recurrences of the nationwide power shortage on Sept. 15. KEPCO said the proposed regulation will require its customers to set targe...

SEOUL, Sept. 23 (Yonhap) -- The average age of chief executive officers in South Korea rose slightly this year from one year ago, a report showed Friday. But the average age of Samsung Group, South Korea's largest family-controlled industrial group and parent of Samsung Electronics Co., fell on the previous year, reflecting the conglomerates's trend of employing younger managers in top executive...

SAN FRANCISCO (AP) _ Hewlett-Packard has named Meg Whitman, the former eBay CEO and California candidate for governor, as its new CEO, pushing aside Leo Apotheker after just 11 months on the job. Whitman got the top spot because there are few available people with the experience to run complex technology businesses, a source familiar with the matter told The Associated Press. Apotheker is being ...

Hyundai Heavy Industries extended its lead in the drill ship market signing a contract for one more such vessel on Thursday. According to the company, the Geneva-based Noble Corp. issued a 600 billion won ($509 million) contract for a drill ship. With the latest deal, the company has been signed on to build 10 drill ships this year, giving it the largest number of drill ship contracts won this y...

Blizzard Entertainment revealed its Diablo III beta trial version to the press Thursday, also unveiling its in-game auction system. Internet crimes, such has fraud, plagued Diablo II through external websites, but the third version of the game aims to provide a safe trading environment by adopting its own in-game market. Users will also be able to choose between a gold-based auction house and c...

Daewoo International Corp. and STX Energy Co. are set to take part in a government project to extract natural gas from the continental shelf in the East Sea to secure stable energy supplies and tackle price swings. The Ministry of Knowledge Economy said it struck an agreement on Thursday with the two Korean developers to drill natural gas from seabed deposits, which are believed to hold 20 milli...

SLS Group, which came to public attention on Thursday when its chairman Lee Kuk-chul accused former vice minister of culture Shin Jae-min of taking billions of won in bribes, is facing disintegration. Lee, a former civil servant, began his career as a businessman with a factory producing parts for trains. He then acquired Haitai Heavy Industries’ plant in Changwon, South Gyeongsang Province. Le...