Builder aims to become one of the world’s top 100 construction firms with sales of W5trHanwha Engineering and Construction is turning its attention to overseas markets to fuel its drive to become one of the world’s top 100 construction companies by 2015.Under the plans announced earlier this year, t

Hyundai Heavy Industries Co. announced on Tuesday that it has set up its second agricultural business in Russia.For the new subsidiary, Hyundai Mikahailovka Agro, the shipbuilding conglomerate took over the Asinovka farm located 150 kilometers north of Vladivostok.According to Hyundai Heavy’s estima

Auction will be carried out with SKT as sole bidderCreditors of Hynix Semiconductor Inc. have decided to continue with selling the company on schedule, Korea Exchange Bank said Tuesday.After STX Group pulled out of the bid on Monday, market watchers had raised concerns that the process would be dela

STX Group dropped out of the bid for Hynix Semiconductor on Monday.The group, which was bidding for the world’s second-largest chipmaker against SK Telecom, said that the plans were scrapped due to global economic instability and for fears that the large investment required to strengthen Hynix’s ope

South Korea and the United States held a joint exercise in May to counter North Korea's possible biological attacks, a ruling party lawmaker said Sunday.Kim Hak-song of the Grand National Party (GNP) said that the anti-biological war drill was held on May 17-27 at the South Korea-U.S. Combined Force

LG Electronics Inc., the world's third-largest handset maker, said Sunday that it will launch a new smartphone model here in South Korea next week that targets young consumers who prefer computer-like QWERTY keyboards.The Optimus Q2 is equipped with a 1.2 GHz dual core processor, 4-inch display, 500

The Ministry of Knowledge Economy announced measures to prevent power outages similar to that of Thursday recurring on Sunday.Minister of Knowledge Economy Choi Joong-kyung, however, did not announce plans to step down despite widely held opinion that he would. At a press briefing on Sunday, Choi sa

The Ministry of Knowledge Economy announced Sunday that those who sustained damages in Thursday’s blackouts can file for compensation from Tuesday.Minister of Knowledge Economy Choi Joong-kyung said that claims can be filed at Korea Electric Power Corp. offices, support centers for small merchants,

Hyundai Heavy Industries Co. on Sunday denied reports that it will be building a shipyard in Nigeria.On Friday, Reuters reported that Hyundai Heavy will be investing $7 billion to build a shipyard in the African country, quoting the company’s chief executive Lee Jai-seong.The company, however, said

Kim Chang-gon, former Vice Minister of Information and Communication, was named the new chief of the Korea Digital Cable Laboratories (KLabs) on Friday.The KLabs’ board of directors announced Friday that it has chosen Kim to replace Suh Jong-ryeol as the organization’s chief executive. KLabs is a re

Independent gas stations could start operating under a common brand as early as next year, the association of independent gas stations said Thursday.Independent gas stations can sell fuel produced by any of the country’s refiners, as opposed to being tied to a refiner such as GS Caltex or S-Oil.As s

The number of countries confirmed to take part in next year’s international exposition in Yeosu, South Jeolla Province, has reached the target of 100, the event’s organizers announced Thursday.According to the Organizing Committee for Expo 2012 Yeosu Korea, the Philippines recently confirmed its par

Korean Air announced Thursday that it will provide flights to deliver United Nations aid to famine-stricken regions in Africa.The carrier said that the flights are being operated as part of the U.N. World Food Program, in which it is taking part in collaboration with the Ministry of Foreign Affairs

Gold has been the most profitable investment vehicle since the collapse of Lehman Brothers Holdings in 2008, a survey showed Wednesday.According to the data compiled by the Yonhap news agency through banks and securities firms, the price of gold has increased 137.5 percent since the U.S.-based finan

More companies focus on interviews in English, rather than results of written testsThe second-half recruitment drive of local firms has begun in earnest with many of the country’s largest firms including Samsung Group, Hyundai Motor Co. and KT Corp. opening applications.While there is nothing unusua

BEIJING (Yonhap News) – A renowned South Korean orchestra conductor headed to North Korea on Monday to discuss cultural exchanges between the two Koreas in what could be another sign of a thaw in inter-Korean relations.Chung Myung-whun, who leads the Seoul Philharmonic Orchestra and doubles as

South Korea said on Monday that it is making efforts to resolve the issue of reunions for family members separated six decades ago by the Korean War, urging North Korea to help facilitate them as well."The family reunions are an issue that must be resolved as a top priority, and the government is pu

South Korea bought military weapons worth 982 billion won ($910 million) from the United States last year, a state-run arms procurement agency said Monday.Seoul's arms purchase from its strongest political ally accounted for roughly 66 percent of its total arms procurement, according to the report r

HONG KONG (Yonhap News) – South Korea's largest food company CJ Cheiljedang Corp. plans to enter China's frozen dumpling market in a bid to expand its presence in the world's most populous market, company officials said Monday.CJ DCH Guangdong Frozen Food Co., a joint venture between CJ Cheilj

Nearly half of South Korean couples divorced last year were childless, a much higher rate than those raising children, court statistics showed Monday.Among 116,858 couples that split up last year, 46 percent of them did not have children at the time of divorce, a 2011 yearbook published by the Supre