The joint consortium of Daewoo International, KT and the Korea Trade-Investment Promotion Agency has won a 23 billion won ($21 million) order to build a high-speed Internet network in Poland, officials said.Starting this month, the trading company is to install 860 kilometers of optical fiber cables in the state of Podlaskie and improve the region’s average Internet speed to 100 megabits per second by year 2015.The contract was part of the Digital Poland Project, a government-led program funded

The newly created Ministry of Trade, Industry and Energy will offer the assistant deputy minister post to Choi Kyung-lim, the chief negotiator for the ongoing free trade agreements.The trade department, which was formerly affiliated with the Foreign Ministry, was officially merged into the trade ministry on Saturday, following the long-delayed parliamentary approval of the government organization bill on Friday.“We have asked chief FTA negotiator Choi to take the assistant deputy minister positi

South Korea's new finance minister said Saturday that it needs to be cautious of adopting the so-called Tobin tax, indicating that such a measure could trigger a capital outflow.   The South Korean government said earlier that the country may move to tighten its regulation on capital flows in and out of the country amid worries that growing volatility in the currency market could hurt the country's overall economic stability.   As part of the new measures, the government said it is considering i

  South Korea's stock market is expected to rebound next week as concerns over the eurozone crisis ease and a series of stimulus measures set to be revealed boost investor sentiment here, analysts said Saturday.   The country's key stock index, the KOSPI, dropped 1.9 percent this week to close at 1,948.71 on Friday, weighed down by an escalating fiscal problem in Cyprus and a cyber attack on several media outlets and banks.   Standard & Poor's, a global credit appraiser, slashed Cyprus's soverei

  Toyota Motor plans to raise domestic production during the April-September period by about 10 percent from its earlier estimate thanks to the recent weak yen, it was reported Saturday.   Toyota has already revised up planned output for April and May by 10 percent to between 13,000 and 13,500 vehicles a day and it now intends to keep production at that level through to September, the Nikkei business daily said.   The weakening Japanese currency is seen pushing up exports of the Corolla and Priu

Korean consumer activist groups are looking to arbitrate with local banks attacked by malware on March 20 to seek compensation for consumers who may have suffered losses from the latest nationwide network crash.The Financial Consumer Agency and Korea Financial Consumer Federation are joining forces to hear consumer concerns even though Shinhan Bank and Nonghyup have restored most of their systems since the cyber attack.They plan to negotiate on behalf of consumers, but will file a class action l