HONG KONG (Yonhap News) ― Korea Kolmar, a South Korean cosmetics research and development firm, has seen robust sales growth in China as it has steadily increased its number of Chinese clients, company officials said Monday.The company, which is known for being an original design manufacturer of cosmetics products, will likely break even in its China operations this year, largely thanks to a growing Chinese mass cosmetics market, said the officials at Korea Kolmar.Korea Kolmar’s brand awareness

A group of civic organizations on Monday requested the prosecution to investigate alleged rebate provision by companies that handle credit card transactions to large retailers that accept credit cards.Because the value-added network companies pay rebates to large retailers, it is becoming difficult to cut credit card commissions for self-employed merchants, the civic groups said.The civic organizations called for a prosecutorial probe into 13 VAN firms as well as 18 credit card acceptors includi

South Korean stocks gained 0.94 percent Monday on bargain hunting of big caps following last week’s tumble triggered by the eurozone’s fiscal woes, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index picked up 16.67 points to 1,799.13, after falling sharply last week.Trading volume was moderate at 406 million shares worth 4.20 trillion won ($3.60 billion), with losers outpacing gainers 470 to 389.“A sharp drop in stock prices last week f

South Korea is reviewing contingency plans to better insulate the country from the political and fiscal fallouts from the ongoing crisis in Greece, the country’s top economic policymaker said Monday.Finance Minister Bahk Jae-wan told a meeting of senior ministry officials that there is a pressing need to keep close tabs on developments taking place in Greece and its effects on the South Korean economy.“Seoul must re-examine its existing contingency plans and prepare for every possible developmen

The loan deposit rate for South Korea’s banking institutions fell to 95.3 percent at the end of March as the government takes steps to reduce household debt, the financial regulator said Monday.The Financial Supervisory Service said all 15 local banks, including KB Kookmin Bank, Woori Bank, Shinhan Bank and Hana Bank, met the loan deposit ratio limit of less than 100 percent.The limit that must be met by the end of next month is part of Seoul’s plan announced in June 2011 to control the country’

Europe-based M+W continues to express desire to acquire builderTransparency has emerged as a point of contention surrounding the sale of Ssangyong Engineering and Construction, as the company could be handed over to an investor via a “private contract.”The possible sale of Ssangyong E&C via this sort of behind-the-scenes contract would be legitimate under the law as the state-run Korea Asset Management Corp., the builder’s biggest shareholder, has already failed to select a preferred bidder twic

Children soak up more electromagnetic waves in certain frequencies than adults, a recent study suggests.According to the research results published Monday, more electromagnetic waves are taken in by children in and around the frequency band of 1000 MHz, which is used in FM broadcasting, and 1GHz, the frequency band of mobile telecommunication.Also, children who use their mobile phones often are more likely to develop Attention Deficit Hyperactivity Disorder, the study said.The research team stat