Korea will soon have a woman president for the first time in modern history. But the glass ceiling is still evident in the nation’s public organizations, despite progress in gender equality in other sectors. The proportion of women executives in government departments and public firms was a mere 9.1 percent, or 272 out of 2,993, according to Alio, a website compiling the management information of the public sector on Tuesday.Also, 51.7 percent of the corresponding organizations had no female mem

Samsung Electronics Co., the world’s biggest maker of smartphones and computer memory chips, reaped an estimated 2 trillion won ($1.9 billion) operating profit last year by selling TVs, data showed Tuesday. The South Korean TV giant is forecast to have sold 53 million TVs, including 51.3 million flat-panel TVs, in 2012, according to the industry data. The company does not disclose figures of annual TV shipments.If the amount is on track, it accounts for roughly 7 percent of Samsung’s 2012 operat

South Korean stocks retreated 1.16 percent Tuesday, as overseas investors dumped shares to take profits from recent rises, analysts said. The Korean won lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index slid 23.30 points to close at 1,983.74. Trading volume was heavy at 542 million shares worth 4.37 trillion won ($4.14 billion) with decliners far outstripping gainers 535 to 263. “The earnings season kicked off in the U.S., except that there isn’t really anythin

Daewoo Electronics’ microwave ovens were selected as a “best buy” item in the U.K. to become the first Korean-made appliance to receive such recognition, the Seoul-based company said on Tuesday. “Which,” a top U.K.-based magazine of a charity focused on product testing and consumer campaigning, designated Daewoo Electronics’ ovens as a “best buy” for its high-quality functions, energy efficiency, user-friendly features and brand credibility. Daewoo said the achievement was particularly significa

Analysts expect next government will raise prices to fund welfare program

Giant new Future Ministry to oversee information and communication as well

South Korean stocks retreated 1.16 percent Tuesday, as overseas investors dumped shares to take profits from recent rises, analysts said. The Korean won lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 23.30 points to close at 1,983.74. Trading volume was heavy at 542 million shares worth 4.37 trillion won (US$4.14 billion) with decliners far outstripping gainers 535 to 263. "The earnings season kicked off in the U.S., except that there isn't real

KT Corp., South Korea's top fixed line and No. 2 mobile operator, said Tuesday it has launched its smartphone music app in 45 countries, a move that comes in line with its overseas expansion drive and the growing popularity of K-pop.Android device users can download the "Genie K-pop" app at Google Play stores in 45 countries, KT said in a press release, adding the country plans to expand the service to 10 additional countries.The 45 countries include major markets in Asia, Europe and America suc