Disagreements between Hyundai Motor Co. and its union are delaying production at the company’s Ulsan complex, causing shortages in domestic and export demand. According to the company, productivity of the plant producing small vehicles has fallen to about 33.5 percent as workers are refusing to comply with its proposal of moving some of the plant’s workers to other parts of the complex. With a ...

POSCO will spend 2.2 trillion won ($1.97 billion) by 2013 on building two new plants and renovating a stainless steel mill, the steelmaker announced Friday. Under the plans, approved by the company’s board of directors Friday morning, POSCO will build a new FINEX facility and a fourth plant producing steel coils at its steelworks in Pohang, North Gyeongsang Province. Developed by POSCO and put ...

One out of every seven in the Korean online community experienced hacking last year, while one out of six said their personal information was exposed online without their consent, according to government figures on Thursday. In the corporate sector, one out of eight companies said their websites were disturbed or hacked, the Korea Communication Commission said, citing a survey it conducted on in...

South Korea's top wire and cable maker LS Cable Ltd. said Thursday that it has changed its English name to LS Cable & System Ltd. to reflect the company's growing businesses. Shareholders adopted the new English name on Wednesday as the new name better indicates the company's expansion into businesses that offer a package of applications, equipment, software and systems to clients, the company s...

Childbirth in Korea grew over 10 percent in January from a year earlier as improving economic conditions encouraged couples to have more babies, a government report showed Wednesday. According to the report by Statistics Korea, the number of babies born in January stood at 47,500, up 10.7 percent, or about 4,600 from the same month a year earlier. The January figure marked the 11th consecutive o...

SK Telecom, the country’s top mobile carrier, said Wednesday it has signed a deal for the first exports of its universal subscriber identification module, which could help businesses better manage products such as liquor and pharmaceuticals. SKT said that the company and its Chinese partner Sunnada Communication Co., a leading wireless coverage solution provider in China, agreed in Beijing to se...

Japan’s earthquake will likely exert upward pressure on energy prices over the short term as the disaster, along with unrest in Arab countries, increases market volatility, the finance minister said Wednesday. “The massive earthquake in Japan is expected to disrupt supply and demand of major energy resources over the short haul, possibly causing price fluctuations,” Finance Minister Yoon Jeung-h...