The Korea Resources Corporation is likely to be in capital impairment in the first half of next year.According to Democratic United Party lawmaker Hong Young-pyo, the corporation is expected to record operating losses of 159.5 billion won (US$143.3 million) this year, exceeding its internal reserves

An increasing number of people in the industry are saying that Samsung Electronics will revamp its organizational structure soon, when it announces new presidents. Some raise the possibility that the company will not only downsize the information technology & mobile communications (IM) division but

Pantech has failed to find a new owner. Amid fierce competition in the global smartphone market, the anxious anticipation that the Korean smartphone maker would not likely find a buyer has become a reality. Samjung KPMG, which processes and manages the bids for the sale of Pantech, said that it woul

Domestic automobile sales are expected to be the highest in history next year with sales of 1.655 million units, two percent higher than the sales of this year. The push of imported vehicles, which have been quickly encroaching on the domestic market, will become stronger by selling 225,000 units ne

Korean companies such as Samsung Electronics, department stores, and online shopping malls are launching extensive marketing campaigns with the Black Friday week around the corner.Department stores in Korea are providing a record large amount of goods along with higher-than-ever discount rates durin

The JoongAng Daily reported on Nov. 22 that Samsung Electronics is going to reduce the size of its IT and Mobile Communications (IM) Division in the wake of its poor business performance recorded in the third quarter of this year, when the operating profits of its Device Solutions (DS) Division exce

An increasing number of carmakers such as Nissan and Daimler are opting for Korean battery manufacturers’ products instead of doing the lithium-ion secondary battery business on their own. The trend is expected to be a boon for LG Chem, Samsung SDI, and SK Innovation in the fledgling eco-friendly ca

The six financial holding companies of KB, Woori, Shinhan, Hana, SC, and Citi paid foreign shareholders cash dividends worth a total of 2.8283 trillion won (US$2.5398) combined between 2010 and 2013.During the period, the Shinhan Financial Group’s payout ratio reached 16.8 percent to 20.5 percent, a

The polarization of the life insurance industry is worsening. While the performance of large insurance companies such as Samsung and Hanwha Life Insurance are continuously getting better, small-and medium-sized insurance companies suffer from weaker growth potential.According to the financial indust

The number of beneficiaries of government subsidies for purchasing hybrid cars will be cut from 40,000 to 32,500 next year.The Environment and Labor Committee of the National Assembly recently held a meeting and decided to reduce the subsidies for 2015 by 7.5 billion won (US$6.7 million) to 32.892 b

Business consolidation between Samsung Heavy Industries and Samsung Engineering has hit a wall, impeding the business restructuring of the Samsung Group that has continued for about a year.In fact, both companies rarely affect corporate succession because the owners, including Chairman Lee Kun-hee,

Uber, which has aroused controversy around the world for its quasi-taxi service, is penetrating the Korean market in a roundabout way.Since its debut in Korea in August this year, Uber has been a target of severe criticism. Seoul City began to crack down on Uber X and Uber Black, considering them il

CJ O Shopping is planning to open a special shopping section in China’s Dongfang CJ (www.OCJ.com.cn) and Tianmao (www.Tmall.hk), an online B2C shop run by Alibaba, to operate its “reverse” direct purchase business in China.CJ O Shopping is going to display approximately 1,000 popular Korean children

Asiana Airlines received a 45-day suspension of all flights to San Francisco for its landing accident at that city's airport in July of last year. The suspension will become effective in March 2015.“In view of the human and property damage, the accident deserves a 90-day suspension, but we halved it

Kia Motors launched The New K9 and The New K9 Quantum on Nov. 17.“The New K9 Quantum comes with various novel techniques, a more sophisticated design and the eight-cylinder Tau 5.0 GDI engine,” the company explained. The engine is currently used in Hyundai Motor Company’s flagship sedan, the Equus.T

LG Electronics announced on Nov. 17 that its large-capacity heater/air conditioners topped the performance test carried out in Australia by monthly consumer magazine Choice.The test was divided into large-capacity (6.1 KW or higher), mid-capacity (4 KW to 6 KW) and small-capacity units. LG Electroni

The Korean shipbuilding industry outperformed Chinese firms in the amount of ship deliveries in the last five years. Many think that the results reconfirms that Korea is a powerful nation in the shipbuilding sector, thanks to its superiority in eco-ship technology.According to industry sources and C

An increasing number of Korean companies are withdrawing their business from China. According to the Korea Trade-Investment Promotion Agency (KOTRA) and the Export-Import Bank of Korea, the number of Korean companies that set up local subsidiaries in China decreased from 2,294 to 1,301 between 2006

For many years, global IT companies like Intel, IBM, Ericsson, and Google haven't kept their promises to establish and run research and development (R&D) centers in Korea. Hence, there is growing criticism that foreign companies only make empty promises.According to industry sources on Nov. 13, most

The court ruling on the ordinary wages of Hyundai Motor Company employees has been postponed due to the differences in the regular bonus payment criteria applied to the workers involved in the litigation. Under the circumstances, the employees are expected to receive different verdicts. Then, the la