Lee Jay-yong’s leadership will be put to test after promotion to vice chairman

SKC and SK Telesys chairman Choi Shin-won was conferred an honorary doctorate in business administration from Konkuk University on Wednesday. SKC said that Choi received the recognition for his contributions to raising brand-awareness of SK products and pioneering new major business sectors. Drawing no-imbroglio agreement between the company and its labor union also earned positive review in the business capability assessment from the university, SK Telesys said. In 2003, the chairman created a

South Korean mobile carriers KT Corp. and LG Uplus Corp. said Wednesday they plan to introduce a service that enables long-term evolution (LTE) data sharing among multiple mobile devices, as a growing number of people own more than one mobile gadget."The number of mobile gadgets owned by an individual is increasing as people are using them for different functions. The LTE data sharing plan will increase customer satisfaction since they can share LTE data among various devices," a KT official sai

Hotel business booming with over 10 million inbound tourists

The number of people who filed for a personal bailout program nearly quadrupled over five years as the economic slowdown began to kick in, especially among the debt-ridden middle class.The government program is designed to give people some leeway on overdue interest on loans and have their debts written off when they fulfill debt obligations.Most applicants of the rescue program belong to the middle class, who have a stable income or assets but are struggling to pay their debts. Experts said the

Korea’s used car exports have been booming recently, with this year’s figures expected to hit a record high, largely driven by the favorable exchange rate and renewed awareness of Korean carmakers globally. According to the Korea Used Car Export Association on Tuesday, Korea exported 244,665 second-hand cars in the first nine months of this year. That compares to total exports of 248,275 cars last year. Of them, 169,548, or 69.3 percent, were passenger vehicles, while trucks and vans made up 21.

The market value of Samsung Electronics’ listed stocks was worth $201.5 billion as of last week, which was about 40 percent of the value of Apple Inc.’s listed shares. These figures reflected a 13 percentage point increase compared to the end of August this year, according to KB Investment and Securities. At the same time, Apple’s worth was undermined, with its market capitalization now 2.5 times that of Samsung, down from when the iPhone maker’s stocks were worth four times the South Korean com

In cooperation with mobile carrier SK Telecom, Korea Exchange Bank opened its first “smart bank” branch at Seoul Square in Namdaemun, Seoul, on Tuesday.The paperless bank uses an electronic documentation system, multi-financial service machine and video counseling with bank clerks, SK Telecom said. Dubbed the “Q’Plex Seoul Square Branch,” the bank’s “Smart Branch Device” is a banking machine equipped with the latest information and communication technologies, with which customers can process som