Korea-based companies and business organizations welcomed the U.S. legislatures’ decision to approve the Korea-U.S. Free Trade Agreement on Thursday.Companies and associations of industries with high dependence on exports were among the most vocal in welcoming the deal. The Korea Automobile Manufact

Democratic Party, liberal groups demand renegotiation on 10 pointsThe process of bringing the Korea-U.S. Free Trade Agreement into effect is likely to be a rocky one despite receiving approval from the U.S. legislature.According to Deputy Trade Minister for FTA negotiations Choi Seok-young, Korea’s

International expansion for SMEs emerges as new engine of shared growthShared growth between large companies and small- and medium-sized enterprises is one of the current administration’s main economic policies.Many of the country’s largest businesses have taken up the cause and now operate a number

The government will revise health and welfare regulations to enable foreign hospitals to set up operations in free economic zones, the Ministry of Knowledge Economy said Wednesday.The ministry said that concerned ministries including the Ministry of Health and Welfare and the Ministry of Strategy an

Direct foreign investment into Korea during the first nine months of the year increased from a year ago, but the rate of growth slowed, government data showed Tuesday.According to the Ministry of Knowledge Economy, the amount of foreign investment reported to the authorities during the first nine mo

STX Corp. plans to increase revenues generated from its coal mine in Indonesia to $200 million next year, and push up the mine’s output to 5 million metric tons by 2013.STX Corp. acquired 40 percent of the mine from the Indonesian mining firm PT Indoasia Cemerlang at the beginning of the year for $3

Nuclear power is an essential source of energy that requires more understanding on the part of the public, Korea Nuclear Energy Promotion Agency Chairman Rhee Jae-hwan said.Stating that while nuclear power has its dangers, it will continue to be an essential energy source until alternative sources a

Nuclear experts aim to allay fears of atomic energy after Japan crisisThe International Atomic Energy Agency’s workshop for public information on new nuclear power plants kicked off in Seoul on Monday.The five-day event organized by the Korea Nuclear Energy Promotion Agency in collaboration with the

Small, independent firm LKH Investment Group was discovered using the names of business tycoons Lee Kun-hee and Koo Ja-hak without permission in an apparent financial scam. Lee is chairman of Samsung Electronics, international tech giant, and Koo is the third son of the LG Group founder and married

Small, independent firm LKH Investment Group was discovered using the names of business tycoons Lee Kun-hee and Koo Ja-hak without permission in an apparent financial scam.  Lee is chairman of Samsung Electronics, international tech giant, and Koo is the third son of the LG Group founder and ma

The International Atomic Energy Agency’s workshop regarding public information on introducing new nuclear power plants will kick off in Seoul on Monday.The workshop organized by the Korea Nuclear Energy Promotion Agency will be held at Lotte Hotel World in Jamsil, southeastern Seoul until Friday.The

The human resource services provider Manpower has been included in the Best of Staffing Talent list, the company said Friday.Compiled by the U.S.-based research firm Inavero Inc., the Best of Staffing Talent list includes staffing firms whose services are rated highly by job seekers. According to th

The Korea-U.S. Free Trade Agreement could receive approval from the U.S. Senate as early as next week, Deputy Minister of Trade for FTA Choi Seok-young said Thursday. “The House Ways and Means Committee passed the bill for the Korea-U.S. FTA implementation, and at this rate, we expect the bill to be

Hanwha Group announced on Thursday that it has selected seven projects aimed at facilitating mutual growth with smaller companies.According to the group, the core of its mutual growth model is divided into three themes ―shared-growth, environment and welfare. Projects concerning supporting suppliers

Samsung Electronics Co. is seeking to prevent Apple Inc.’s new smartphone iPhone 4S from going on sale in France and Italy.The Korean firm announced Wednesday that it plans to file an injunction in the two European countries to prevent the device from going on sale saying that the new iPhone breache

Korean company moves to invalidate iPad design rightsSamsung Electronics Co. is moving to invalidate Apple Inc.’s iPad design rights in Europe in a move to resume selling its own tablet computers in the European market.According to Samsung Electronics, the company filed an application for the annulm

The human resource services provider ManpowerGroup was included in among the top 50 companies in the InformationWeek 500 list.The list, compiled by the U.S.-based weekly InformationWeek, ranks companies headquartered in the U.S. with more than $250 million annual revenues according to the innovative

SK Holdings, SK Group’s holdings company, reorganized its divisions on Oct. 1 as part of efforts to increase the efficiency of its operations, the company announced Wednesday.In making the changes, the company merged the two divisions responsible for developing means for future growth ― the Global a

By Choi He-suk POSCO announced on Tuesday that it signed a long-term steel plate supply contract with Royal Dutch Shell.According to POSCO, the agreement is one of the first in which a steelmaker has signed on as a sole supplier to a multinational oil company.Under the agreement, signed on Sept. 28,

Dozens of North Korean defectors in China were recently arrested and will soon be deported back to their communist homeland, a South Korean humanitarian group said Sunday.In a special bulletin posted on its own website, the Commission to Help North Korean Refugees (CNKR) claimed a group of 20 North