Kang Man-soo, who tendered his resignation as chairman of the state-owned KDB Financial Group on Thursday, was a close confidant of former President Lee Myung-bak.According to lawmakers from the ruling Saenuri Party, the economic policies of the Lee administration were based on the economic studies of Kang and his followers.He conducted a variety of controversal policies, including a currency devaluation against the U.S. dollar to boost exports, as the first finance minister of the Lee governmen

A recent study found that connections used in cyber attacks more frequently came from Internet Protocol addresses based in India, according to the Korea Internet and Security Agency.The agency on Thursday said that India had the highest number of IP addresses that were used for distributed denial of service (DDoS) attacks against Korean websites in the second half of last year.With India accounting for more than 12.9 percent of the foreign IP addresses participating in the cyber attack, Brazil,

About 5,000 global energy leaders to attend 22nd World Energy Congress in October

Shinhan Bank said Thursday that its “matrix operation,” or business coordination between banks and brokerages, has yielded considerable gains since it introduced the system last year. As a fresh business concept, the matrix was adopted by the country’s major banks with an affiliate brokerage firm, such as Shinhan Bank, Hana Bank and Woori Bank, as early as the beginning of 2012. Shinhan Bank is historically the first bank in Korea, originally established under the name Hanseong Bank in 1897. The

All cars have a niche audience they cater to, and in the case of the QM3, the quirky yet stylish new “compact” SUV from Renault Samsung, the target consumer will be a bit more adventurous than most. “We hope with the QM3, we create, and not only follow trends. We don’t want to be on the defensive ―we want to be on the offensive,” said Laurens Van Den Acker, Renault’s head of design, who was in Seoul for the Seoul Motor Show on Thursday. A bright orange QM3 sat glistening on the showroom floor at

Legendary car designer Ian Callum of Jaguar, who was visiting Korea for the first time to attend the Seoul Motor Show, picked Kia’s Sportage as his favorite design among Korean cars. “The Sportage has really great design. I think it’s exaggerated but it’s good when it comes to car design. It gives a character to a car,” he said in an interview with The Korea Herald. The design director for Jaguar and man behind the British carmaker’s renaissance over the past decade joined the Seoul event to per

GOYANG, Gyeonggi Province ― More than 300 vehicles, including nine world debuts and 16 new introductions in Asia, will show off their beauties at the Seoul Motor Show which kicked off Thursday starting with a media preview. Korean carmakers, among other players, have geared up to prevail during the largest automotive event held on their home turf. Korean auto giant Hyundai Motor dominates the largest exhibition space of 6,800 square meters and shows off 38 vehicles, including the HND-9, a luxury

COEX, an exhibition and convention center in Samseong-dong, southern Seoul, appointed Byun Bo-kyung, former head of Seoul Business Agency, as new CEO, the Korea International Trade Association, the owner of COEX, said Thursday. Byun, 60, has built global leadership in the information technology sector, serving LG-IBM PC and Kolon Information and Technology as CEO. He entered the exhibition and convention industry in 2011 as CEO of the Seoul Business Agency, which carries out exhibitions and conv