At the last possible moment, Congress and the president arrived at a compromise that resolved part of the fiscal cliff. Although there was a sense of relief in Washington and nationally that the worst aspects of the impending tax increases and spending cuts were dealt with, there is still much more work to be done. What has been dubbed the fiscal cliff is in reality a set of tax and spending changes put in place in July 2011 when the U.S. went through a debt ceiling and a fiscal crisis. The agre

Google co-founder Sergey Brin was spotted on the New York subway wearing glasses-cum-smart device “Google Glass.”U.S.-based IT magazine PC Magazine reported on Monday that Brin caught the eyes of citizens on the subway on Sunday.A New York resident named Noah Zerkin posted a photo of Brin on Twitter spotting the Google co-founder.Zerkin also posted a photo of himself wearing Brin’s Google Glass, adding that he couldn’t operate the device since mobile phone service was not available in New York’s

New rumors suggest Apple will bring out three new iPhone models this year, including one dubbed the “iPhone Math,” tech sites say.Brightwire.com, translating stories from the China Times and Taiwan-based Commercial Times, said the iPhone Math would feature a 4.8-inch screen and an 8-megapixel camera. Brightwire could offer no explanation for the odd moniker, especially since all previous and current iPhones have model names consisting of just numbers and letters, such as the iPhone 3G and the iP

Dong-A Pharmaceutical, Korea’s largest drug maker, is grappling with controversy over corporate governance as it plans to set up a holding company and put its cash cow energy drink business, Bacchus, under an unlisted firm.With the National Pension Fund, which controls a 9.5 percent stake in Dong-A, holding the casting vote, industry observers expect the state-run fund’s stance to be an indicator of the incoming Park Geun-hye administration’s policy on corporate governance.The case is drawing mo

Foreign investments in bonds increased in 2012, spurred by monetary easing overseas that led to an inflow of capital seeking higher-yielding assets.According to the Bank of Korea, foreign net shareholdings in Korean treasuries and monetary stabilization bonds reached a record high of 91 trillion won ($86 billion) as of the end of December 2012, accounting for 7 percent of the total.Funds from the U.S., Hong Kong and Singapore were the biggest investors of Korean fixed-income securities, with the

SK, the country’s third-largest conglomerate, made its debut in the 1950s as a textile firm, but has now evolved into a corporation that covers energy as well as information technology.The corporation was called Sunkyung Textile back in 1953. Founded by former chief executive Chey Jong-kun, it was the first in Korea to export rayon textiles to Hong Kong in 1962.Since stepping into the petrochemical sector about a decade later, the corporation was taken over by the founder’s younger brother Chey

SK Hynix, the newest member of SK Group, had been ownerless for more than a decade. The company, which was established as Hyundai Electronics in 1983, acquired LG Semiconductor in 1999 and separated itself from Hyundai Group soon after in 2001.Since changing its name to Hynix Semiconductor, it has shown remarkable progress.On top of becoming the world’s No. 2 memory chipmaker, it launched the world’s fastest 128-megabyte graphics memory chip, called double data rate synchronous dynamic random ac