The Financial Supervisory Service is poised to decide whether to order stern disciplinary measures against the CEO of Hyundai Capital for incurring cyber attacks due to allegedly negligent internal controls.As officials of the regulatory body move to fine-tune the sanction level on Hyundai Capital CEO Ted Chung, he could be banned from holding a job in the financial industry for the next few years

The number of Koreans aged 100 or more has almost doubled since 2005 under the country’s improved medical services, Statistics Korea said Tuesday.The number of centenarians numbered 1,836 in November, posting a 9.1 percent increase from 961 in 2005, the state agency reported in its census report compiled every five years.The number of females in the group, 1,580, exceeded their male counterparts,

Creditors of Daewoo Electronics Corp. are seeking to sell the third-largest electronics firm in Korea to a Swedish company following their failed sale efforts with the initial preferred bidder from Iran, sources said Tuesday.Creditors including Korea Asset Management Corp. sealed a contract in last November with Iranian electronics firm Entekhab Industrial Group to sell their combined 97.5 percent

Korea’s overall corporate profitability worsened in the first quarter from a year ago as oil costs rose and the local currency’s gain dented prices of export goods, the central bank said Tuesday.The average ratio of operating profit to sales, a key barometer of profitability, reached 6.3 percent in the January-March period, down from 7.2 percent from a year earlier, the Bank of Korea said in a rep

Charges on imports dropped on shortage items as prices soarThe government plans to extend tariff cuts for 35 out of 46 items due to expire this month and add 14 more items to the list to ease import cost burdens on local consumers, the Finance Ministry said Tuesday.Under the plan, items such as pork, garlic, mackerel, wheat, soybean oil, sugar, and coffee will continue to enjoy lower tariffs. The

SK Communications said Tuesday it has launched a website that provides scholarship information involving 63 scholarship foundations and 110 different academic funding programs.The country’s online portal, which runs Cyworld, said it would also hold a briefing session in Seoul and Busan this week at two universities to explain how students could easily access information on various scholarships ava

 

As social and political debates on cutting university tuition fees rages on, the restructuring of higher education has emerged as an urgent issue. There is a need to strengthen university finances in general and concentrate state support on more viable institutions. While the Board of Audit and Inspection is checking the financial, personnel and academic affairs of all 200 four-year universities,

North Korea again blared out warnings of “merciless retaliation,” this time against the move here to pass the North Korean human rights bill at the National Assembly. Their language grew harsher as with a change in activities in the South that they consider to threaten the stability of their system.Jopyeongtong, Pyongyang’s mouthpiece on South Korean affairs, said the bill represented Seoul’s atte