KT Corp., the nation’s No. 1 fixed-line service operator, on Monday said it will open its mobile application market in China Mobile’s application store as part of its application-sharing project with China and Japan. Olleh market will be launched as a “shop-in-shop” on July 9, the Seoul-based company said.China Mobile’s application store “Mobile Market” has since last year shown greater than 40-fo

Mirae Asset Global Investment, the largest mutual fund manager in the country, said it is in talks to take over Canada’s BetaPro Management Inc., an exchanged traded funds manager, the local brokerage said Monday.The mutual fund arm of the financial group said price or timing of the acquisition is yet to be finalized. The deal is widely expected to be valued at well over $100 million.“We’re consid

Samsung Group will audit its financial units this month, including key affiliates such as its insurance arms following a scandal at another subsidiary, industry sources said on Monday.The move would mark the first audit on the financial units since 2003. The group’s auditing team will first review the business operations of Samsung Fire & Marine Insurance later this month, before a separate audit

Korea’s foreign exchange reserves shrank for the second straight month in June because a weaker British pound reduced the dollar conversion value, the central bank said Monday.The country’s foreign reserves reached $304.48 billion as of the end of June, down $600 million from the previous month, according to the Bank of Korea.The reserves fell for the second straight month in June after hitting a

TOKYO (AP) ― Boeing Co.’s long-delayed 787 completed its maiden trans-Pacific journey and landed in Japan, where the more fuel-efficient jet will undergo testing this week with All Nippon Airways in preparation for its first commercial launch.The “Dreamliner” touched down at Tokyo’s Haneda Airport from Seattle early Sunday to applause and a white “Welcome to Japan” banner held by flight attendants

China’s non-manufacturing industries expanded at the slowest pace in four months in June, adding to concerns that efforts to tame inflation are curbing growth in the world’s second-biggest economy.A purchasing managers’ index dropped to 57 from 61.9 in May, the China Federation of Logistics and Purchasing said on its website yesterday. A reading above 50 indicates an expansion. China’s economic gr

The congregation of the Taman Yasmin Indonesian Christian Church (GKI) in Indonesia again faces the threat of eviction from local hardliners who are now targeting the makeshift location where the church conducts its weekly service.A group of residents who live along Jl. K.H. Abdullah bin Nuh in Bogor, West Java, attempted to evict the GKI Yasmin congregation from the area on Sunday morning, but we

Upon reports of Korea Exchange Bank’s release of huge dividends to its shareholders, a wave of criticism has been hurled at the Texas-based Lone Star Funds, which will collect nearly a half trillion won from its 51 percent share in the bank. Xenophobia again raises its head in some civic quarters. Radical voices ask financial regulators to stop the U.S. buyout fund’s “eat-and-run” business. The Fi