The government’s announcement of a tentative plan to introduce competition to train operations is rekindling a dispute over the privatization of operations of the high-speed KTX.Last week, the Transport Ministry announced proposals made by its civilian reviewing committee to end the monopoly of the state-run rail operator KORAIL for the industry development. The centerpiece of the proposals was about who should operate the new high-speed KTX routes connecting Suseo in southern Seoul to the south

The Financial Supervisory Service is making inquiries into CJ Group over the allegations the business group engaged in fraudulent stock trading, regulatory officials said Sunday.According to the officials, the regulatory investigation is focused on whether CJ had conducted business practices that include stock manipulation or illicit use of insider information.The probe was initiated on suspicion that CJ Chairman Lee Jay-hyun might have used slush funds secretly in borrowed-named, offshore bank

The number of individuals benefiting from the government-led debt-restructuring programs will reach up to 1 million this year, data showed Sunday.The Park Geun-hye government has been pushing to rescue people saddled with debt for a long time as part of efforts to help them resume their ordinary economic lives. This is also part of a drive to ease rising household debts, which are feared to weigh on the overall economy.In a related move, the government recently launched the debt relief program d

State-run Korea Trade-Investment Promotion Agency said it will hire 40 people from multicultural families in Korea to train them in international trade and marketing. KOTRA will offer recruits educational programs and internship opportunities at local trading firms, KOTRA said. Candidates who hold a license in interpretation and translation or who have passed level 4 of the Test of Proficiency in Korean can apply for the job. The agency opens the job to high school graduates from multicultural f

South Korean exporters saw their first-quarter sales shrink as the impact of the weak yen continued to put them at a disadvantage against Japanese rivals, a report showed Sunday.The yen has weakened against the U.S. dollar significantly since the fourth quarter of last year, apparently driven by the so-called Abenomics ― a mixture of aggressive monetary and fiscal policies preached by its Prime Minister Shinzo Abe.A weak yen makes Japanese products less expensive, making them a challenge for Sou

The head of South Korea’s stock bourse operator has offered to resign, signaling what could be the beginning of a replacement at the top of brokerage-related agencies, industry sources said Sunday.Kim Bong-soo, the chairman of the Korea Exchange recently expressed his intent to step down to Financial Services Commission Chairman Shin Je-yoon, according to the sources.Kim, 59, offered to resign, saying that he has done his part and now is the time to leave, a source said on condition of anonymity

Reckless construction projects have dealt a blow to their fiscal health

South Korean stocks are likely to rise next week by shaking off concerns of a possible end to the U.S. quantitative easing and the plunge in Japan's stock market, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 1,973.45 this week, down 0.67 percent from 1,986.81 a week earlier.The analysts said the KOSPI is expected to advance as the U.S. was unable to terminate its quantitative easing due to weaker-than-expected economic data and the more than 7 percent drop in

ULSAN (Yonhap News) -- Hyundai Motor Co., South Korea's largest carmaker, resumed weekend production at some of its assembly lines on Saturday, a move that could help the company make up for production shortfalls and resolve unfilled orders.The resumption marked the first time Hyundai employees returned to the assembly lines in Ulsan for weekend work since March 4 when the carmaker ended its decades-long practice of running a graveyard shift.The weekend work stoppage prevented the carmaker from

JEJU ― LG Electronics is ready to expand its lineup for Google TVs this year, as the company expects sales to rise on growing demand, a high-ranking LG executive confirmed on Friday.These innovative smart TVs operating on Google’s Android operating system are consequently expected to become available in more countries other than the U.S., China and Korea.The language band for the Google TVs is also likely to be expanded to more than the current 10 or so based on LG forecasts for higher demand. I