Weather agency predicts two or three more heavy storms by SeptemberThe Korean Peninsula is expected to face a mega typhoon of disastrous proportions this summer, according to the state’s weather agency on Tuesday. The Korea Meteorological Administration predicts that two or three more typhoons could hit the two Koreas up till September, after analyzing computer simulations. The KMA found that the

Samsung Electronics on Thursday will unveil the results of a reexamination conducted by a U.S.-based consultancy on a recent court ruling that regarded leukemia as an industrial accident that occurred at a Samsung factory. Environ, a consultancy specializing in environmental and health issues, will be introducing the results of the review at Samsung’s Giheung semiconductor plant and respond to que

Cooperative is in process of drastic restructuring to spin off financial operation into separate unitThe capital owned by South Korea’s state-run National Agricultural Cooperative Federation, or Nonghyup, stood at 16.1 trillion won ($15.22 billion) as of May, sparking fresh debate about how much the government should fork out to help it split up its units smoothly.Nonghyup is now drawing up a dras

Korea’s Hyundai Motor Co. and its sister company Kia Motors Corp. emerged as the world’s fourth-largest carmaker in 2010 on solid sales in the United States and China, a Japanese market researcher said Tuesday.Their combined output just surpassed 6.60 million units last year, up 23.6 percent from 5.34 million cars a year earlier, according to Fourin Inc. Hyundai and Kia are the flagship companies

Korea’s imports of pork and beef surged in the first half of the year from a year earlier due to the spread of foot-and-mouth disease that led to the culling of millions of animals here, a state agency said Tuesday.South Korea imported 219,681 tons of pork in the January-June period, up 120 percent from 99,899 tons a year earlier, according to the Animal, Plant and Fisheries Quarantine and Inspect

Korea’s central bank is widely expected to freeze the key interest rate for July following a rate hike in June due to growing household debt and lingering external economic uncertainty, a poll showed Tuesday.Eighteen out of 19 economists predicted that the Bank of Korea will freeze the benchmark seven-day repo rate at 3.25 percent on Thursday, according to the survey by Yonhap Infomax, the financi

Samsung Electronics Co., the world’s largest maker of TVs, maintained its lead in Europe’s major TV markets during the first five months of this year, a market researcher said Tuesday.According to GfK Group, the Korean TV maker accounted for 31.9 percent of Europe’s liquid crystal display TV market in May.Its market share stood at 30.8 percent in the January-May period. Samsung’s hometown rival LG