Volatility likely to increase unless EU resolves crisis: analystsSeoul stocks took a nosedive Wednesday amid increasing concerns over the European debt crisis, driving foreign investors to sell and seek safer investment assets such as the U.S. dollar and gold, analysts said.Also, the news that Apple is likely to decrease its DRAM memory chip orders from Samsung Electronics, Korea’s biggest blue chip traded on the Seoul market, increased downward pressure on Korean stocks. The benchmark KOSPI fin

Samsung Network Services & Solutions, a Korean network systems developer, plans to hire interns by June this year.The company said in a press release on Tuesday that its five divisions including telecom networks, overseas sales and marketing and human resources will accept applicants until May 24 via its homepage.University students in their junior or senior years, or those expected to graduate in February 2014, can apply for Samsung SNS’ internship programs headed by the five divisions. Graduat

Korea is one of the world’s most connected countries with people enjoying high-speed Internet access and advanced information and communication technology. Its transportation system integrating with ICT is highly modernized and efficient.These are two of Korea’s most competitive development models the World Bank hopes to bring to developing and underdeveloped countries.Rachel Kyte, vice president of the World Bank, said whether it is fragile, poor, middle-income or low-income economies, they are

Hanwha Group, a Korean conglomerate with businesses in chemicals and finance, said it will back eco-friendly and socially responsible small and medium-size companies for the first time.It has chosen 18 companies after screening a list of corporate applicants for shared growth between March 29 and April 13, the group said in a press release. The conglomerate plans to provide assistance in the areas of financing, marketing, product development and market entrance for the 18 companies, with the aim

The country’s top internet portals are expected to make comebacks in the second quarter of this year, despite lackluster earnings in the first quarter, analysts said.Last week, the No.1 online portal NHN posted 576.7 billion won ($503 million) in sales and 161.8 billion won in operating profit from January to March.The firm’s sales figure surged 14.2 percent from the same period a year ago, but slipped 3.7 percent in operating profit.However, NHN, better known for its search engine Naver, was no

Global top inspection player seeking share buybacks, M&As, CEO saysChips connected with tiny electronic components and circuits are made through long manufacturing lines. They must be assembled and produced with maximum precision and perfection. Otherwise consumers are left with malfunctioning mobile devices and computers.In between those lines, there is inspection equipment such as solder paste and automatic optical inspection that makes sure such electronic components are put together and made

Public-private partnership has been one of the effective ways to tackle global warming.And financial companies have faced growing calls for playing a more active role in dealing with climate change as a majority of funding to sustain green growth will need to come from the private sector, while governments need to back it with sound policies.Climate change is not a short-term issue, and financial companies should see it as more than just about project financing, said Gwen Andrews, vice president

Willstech, a privately held Korean tech firm, will provide enterprise energy management software in Korea.The company said in a press release that it has secured a contract with Joulex to launch the private U.S. firm’s energy management system services for Korean businesses.Joulex’s software allows companies to save and efficiently manage energy from the use of various network-connected IT devices, Willstech said.It added that Joulex’s smart energy manager systems can help save up to 40 to 60 pe

As the Yeosu Expo kicks off this weekend, foreign delegations, tourists or even local visitors may wonder what they should see.Wonder no further. As the Expo organizing committee has said numerous times, just relax and let the hundreds of guides and officials take you to attractions and pavilions where you can learn about the present and future industry and technology of marine and green science.If you are still concerned, perhaps some of these suggestions can help ease the burden. First, the Ex

 Choe says company may consider establishing R&D center domesticallyKorea’s software industry may have been in the shadows for quite some time.But Michael Choe, president of CA Technologies Korea, the local subsidiary of the world’s biggest IT management software company, said that with the emergence of cloud computing technology, it will stand at the forefront of innovation.“Software had been a ‘necessary evil’ in the past (in Korea), but now it has become a more integral part of the drive for

Korea has capacity to develop higher value-added mobile apps for exportSAP is always on the lookout for acquisitions that can help the world’s largest enterprise software company gain innovative technology and reinforce its business in mobile, in-memory and cloud computing.Korea would definitely be one of many potential markets where SAP, backed by “tons of cash,” would seek opportunities in mergers and acquisitions, said Hyoung Won-joon, CEO and president of SAP Korea.“It may be a cliche to say

Exor, an Italy-based investment holding company, has proposed Lee Jay-yong, president and chief operating officer of Samsung Electronics to be its board’s independent director. Lee is the only son of Lee Kun-hee, the owner of Korea’s largest conglomerate Samsung Group. Exor, meanwhile, is controlled by the Agnelli Family. Exor, whose portfolio includes Fiat and Chrysler, said in a press release on May 4 that it has filed candidates, including Lee, for the board of directors to its shareholders f

Solomon, Korea face delisting from bourseThe Financial Services Commission said Sunday that it has decided to suspend operations of four mutual savings banks in Korea over the next six months.The four secondary financial firms are Solomon Savings Bank, Korea Savings Bank, Mirae Savings Bank and Hanju Savings Bank, the FSC said in a press release.Of six banks the regulatory body has investigated since September last year, the FSC shortlisted the four as distressed banks with weak financials.Only

Largest PE shareholder G&A could consider exit next year　When Nam Sam-hyun joined Etrade Korea as its chief executive officer four years ago, he was in deep sorrow at seeing the company, the first online brokerage firm to be established in Korea, fall behind Kiwoom Securities. Nam, the former CEO of Woori Futures, said he has since vowed to improve everything about Etrade’s image and operations by first investing in not only its electronic systems but also human capital.“When I first came to thi

 Asia’s 4th largest economy unlikely to graduate to developed markets index soonSouth Korea would be better off remaining in Morgan Stanley Capital International’s emerging markets index than entering its developed markets index, said a global investment bank.Shawn Kim, an equity strategist and executive director at Morgan Stanley, said that Korea could end up like Israel and be ignored by global investors if it moved into the developed index.“After Israel was included in the MSCI developed inde

Tech giant moves to expand production of higher efficiency chipsSamsung Electronics is considering transforming some of its existing memory fabrication manufacturing lines into non-memory ones at its plants in Korea and abroad.Industry sources and analysts said that the move comes as demand for non-memory chips such as application processors is set to increase on burgeoning smart devices, while personal computers face decline.AP non-memory chips, which operate much like central processing units

Tech giant moves to expand production of higher efficiency chipsSamsung Electronics is considering transforming some of its existing memory fabrication manufacturing lines into non-memory ones at its plants in Korea and abroad.Industry sources and analysts said that the move comes as demand for non-memory chips such as Samsung’s application processors is set to increase on burgeoning smart devices, while personal computers face decline.AP non-memory chips, which operate much like central process

Korea’s increasing outbound investment and sluggish inbound foreign investment has contributed to a loss of some 660,000 jobs over the last 12 years, a private think tank said.Hyundai Research Institute said in a report that Korea’s foreign direct investment grew only 3 percent, while its overseas investment rose 24 percent on average year-on-year.Overseas energy and mining has been the most sought after investment for Korean companies since 2006. Investment in the energy sector abroad was worth

Gimpo International Airport may have lost its hub status to state-backed Incheon International Airport, but Korea Airports Corp., the operator of 14 regional airports including Gimpo, still aims to exhibit its prowess in airport management and equipment exports.KAC vice president Kim Byeong-no said the company is set to compete with global equipment players such as Thales and Selex, while tapping build-operate-transfer or operation and maintenance projects. “KAC has more than 30 years experience

Smartphones, displays up, chips down for tech giant in first quarterSamsung Electronics saw its first-quarter earnings hit an all-time high thanks to brisk global sales of smartphones, the company said on Friday.The Korean tech manufacturing giant said that its operating profit reached a record 5.85 trillion won ($5.15 billion) from January to March, up 98.4 percent from 2.95 trillion won a year earlier.It posted sales of 45.3 trillion won in the first quarter of 2012, up 22.4 percent from about