candidate for the position of new chairman to lead the world's fifth-biggest steelmaker, an official said Saturday.The steelmaker's board of directors made the decision earlier in the day, POSCO spokesman Kang Min-suk said.Choi is subject to approval at an extraordinary shareholders' mee
South Korean shares are expected to remain in a relatively tight range next week as investors take to the sidelines amid global trade tensions, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,357.22 points on Friday, down from 2,404.04 points a week earlier
South Korea's exports engine is sputtering out, as signaled by an increasing number of companies with slim profits and growing global trade protectionism, a report from a local economic research agency said Wednesday.The report from the Korea Economic Research Institute (KERI) cited five signs t
Local banks are increasing their assets mostly through loans, especially those to households that are home-collateralized, an analysis report from the Financial Supervisory Service (FSS) said Tuesday.The report, which tracks asset management by banks since the global financial crisis of 2008, said t
A small amount of coolant leaked from a nuclear reactor in the southern part of South Korea, but no significant radiation leakage was reported, the plant's operator said Tuesday.A total of 3,630 kilograms of the coolant, 1.7 percent of the total, was leaked from the Wolseong-3 reactor located in
Retail fuel prices in South Korea rose for the seventh consecutive week despite a fall in global crude oil prices, data showed Saturday.The average gasoline price was 1,609.7 won (US$1.49) per liter nationwide in the first week of this month, edging up 4.7 won from a week earlier, according to the d
South Korea will seek drastic deregulation and provide support to foster innovative growth, the country's finance ministry said Friday.Under a set of support measures unveiled earlier, the government will provide funding and other incentives to eight key sectors such as smart farms, smart cities
South Korea's industry minister called on China to fairly conduct an antitrust probe into two Korean chipmakers as regulators are reportedly looking into their alleged price fixing, his office said Tuesday.Paik Un-gyu, South Korean minister of trade, industry and energy, made the request during
The world's automotive semiconductor market is expected to grow nearly 20 percent this year on rising demand for automated driving systems, a report said Saturday.The global chip market for vehicles is estimated to reach US$32.3 billion in 2018, up 18.5 percent from a year earlier, according to
South Korean shares are expected to remain in a relatively tight range next week as investors take to the sidelines amid global trade tensions, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,438.96 points on Friday, down 0.89 percent from a week ago.
South Korea's economy grew at a slower-than-expected pace in the first quarter from three months earlier on sluggish construction and facilities investment, central bank data showed Friday.The country's gross domestic product (GDP) expanded 1 percent in the January-March period, rebounding f
By Publisher Lee Kyung-sik with Choe Nam-suk, Ms. Sua KimIncheon National University (INS) is obviously in good hands, President Cho Dong-sung in particular, and this was immediately apparent at a meeting with ambassadors and other senior diplomats who visited and toured various facilities of the Un
South Korea's economic growth rate ranked fifth among members of the Organization for Economic Cooperation and Development (OECD) in the first quarter of the year, a sharp turnaround from three months earlier, OECD data showed Sunday. Asia's fourth-largest economy expanded 1.1 percent in the
South Korean shares are expected to find little upward momentum next week due to increased uncertainties following the cancellation of the U.S.-North Korea summit and growing protectionism tendencies by the world's No. 1 economy, local market watchers predicted on Saturday.Analysts said the benc
South Korea will develop advanced bunkering technology for liquefied natural gas (LNG) ships to increase the number of eco-friendly vessels it can support as more countries move to implement tougher environmental regulations, the oceans ministry said Tuesday.The Ministry of Oceans and Fisheries has
South Korea's financial regulators said Sunday they will strengthen efforts to ferret out the illegal transfer and concealment of wealth abroad.The Financial Supervisory Service (FSS) and the Financial Intelligence Unit (FIU) said they are now better able to detect certain transfers of funds to
Late business tycoon Koo Bon-moo, who died Sunday, effectively expanded the global standing of South Korea's fourth-largest conglomerate LG by bolstering the competitiveness of a range of its businesses, from electronics to chemicals, throughout his more than 20 years as the top executive.
The number of new employees hired by South Korea's top 30 companies moved up 2.3 percent on-year in the first quarter, data from a local corporate research firm showed Sunday.According to CEO Score, companies belonging to such conglomerates as CJ, Samsung and SK recruited 21,361 people into thei
South Korea's global entrepreneurship index (GEI) moved up three notches in 2018 from last year on a solid improvement in the attitudes of those engaged in business activities, a report by a local think tank showed Sunday.The findings by the Korea Small Business Institute (KOSBI) showed that Asi
South Korea's central bank is expected to freeze its policy rate at the current 1.5 percent at its upcoming monetary meeting due to low inflation pressure and the sluggish job market, a market watcher said Sunday.Scheduled to take place Thursday, the seven-member monetary policy panel under the