CHEONAN, South Chungcheong Province ― KT and Intel opened a test bed for an energy-efficient data center for the first time in Korea on Tuesday.The nation’s biggest fixed-line service provider said the two firms have worked together since late 2010 to operate a data center that runs at high temperatures to save energy and lower costs.“The data center in Cheonan is the first one to apply this energy-saving technology and the application will be expanded to other data centers operated by KT nation

Morgan Stanley says downswing will continue for six to 12 monthsApartment prices in the Seoul metropolitan area fell to 10 percent below what they were just before the global financial crisis in 2008, signaling a protracted housing market slump, according to government data.Prices of new apartments plunged some 30 percent in four years and housing transactions plummeted as fewer people moved home, said the report from the Land Ministry released on Tuesday.Despite an increase in the overall popul

As China speeds up industrial upgrading, Korea will face more competition in all sectorsThe world’s most populous country, China has set expanding domestic demand as a core engine for mid- to long-term economic growth. To facilitate higher consumption, the government is seeking to improve the distribution of wealth. Major initiatives include urbanization, higher worker wages and social welfare improvements. Urbanization and national land development planning are the main factors in the developme

Café-saturated capital and regulations push local coffee brands to find new markets overseasKorean coffeehouse chains are eyeing markets overseas as Seoul becomes oversaturated with coffee shops. The number of coffee shops in Korea increased from about 6,000 in 2008 to 9,400 in 2011 according to research conducted by Samsung Economic Research Institute. The research also showed that some 40 percent of stores run by the top five Korean brands ― Caffe Bene, Hollys Coffee, Ediya Coffee, Angel-in-us

Diablo 3’s sagging popularity has rebounded dramatically thanks to news of an upcoming major content and gameplay system update slated for Thursday.Blizzard Entertainment, the developer and distributor of Diablo 3, recently announced the 1.0.4 update plan, which is expected to drastically change the overall game system and upgrade its content. After the announcement, GameNote said the popularity rank of Diablo 3 in Korea jumped to 4th place, climbing 16 steps as of the third week of August. Game

A chocolate glazed donut and a cup of coffee are arranged for a photograph at a Dunkin' Donuts Inc. store in West Orange, New Jersey, U.S. (Bloomberg)Dunkin' Donuts discriminates against minority owners through unfavorable business locations, a suit filed Monday in New Jersey state court says.The Massachusetts-based Dunkin' Brands operates nearly 7,000 pastry-and-coffee franchises throughout the c

Korea’s business sector has faced a growing number of patent disputes with foreign enterprises as many local big players are increasing their shares in overseas markets.According to the Korean Intellectual Property Office, the business sector saw the number of international patent lawsuits surge by 80.5 percent over the past two years. In particular, Korean firms are increasingly becoming the target of patent offensives from foreign technology powerhouses.“A growing number of foreign firms have

Hyundai Motor Group chairman Chung Mong-koo is expected to call on the automotive group’s U.S. operation to map out measures against Toyota Motor’s rapid sales growth in North America.Chung has left for Los Angeles where Hyundai’s U.S. sales corporation is located. “The chairman will also visit the Alabama plant of Hyundai Motor and the Georgia plant of (affiliate) Kia Motors,” a group spokesman said Monday.“The U.S. auto market was also hit by the eurozone debt crisis. The chairman’s visit is a