Woori Financial Group has been pushing for takeover deals in three overseas markets simultaneously, its chairman Lee Pal-seung told reporters Tuesday.“We have been in mergers and acquisitions talks in two regions (countries) in Southeast Asia. One of the two negotiations has seen good progress,” he said.He added that Woori Financial is also carrying out merger talks with a financial company in a country linking Asia and Europe.Group executives had said they were considering increasing the compan

DELHI, India ― In an industrial town 1,200 kilometers southwest of Delhi, India’s fourth-largest carmaker Mahindra & Mahindra has completed a facility to reproduce Ssangyong’s SUV Rexton starting in April this year.“The factory here will start importing pre-assembled parts of Rexton from Korea in the second quarter. It will be our home base as we enter the Indian market,” said Chung Moo-young, Ssangyong Motor public relations official on Sunday.The M&M Vehicle Manufacturers Ltd sits in Chakan of

Korean firms look to create social impact via education, donations and volunteeringThese days, the concept of “giving back” among businesses is not rare.With an increasing number of Korean firms going global, their responsibility to the community stretches beyond their home turf. POSCO opened foster care centers and agricultural training facilities in Africa. Samsung Electronics nurtures engineers in the Middle East and India. Hyundai Motor backs China’s fight against desertification and pediatr

Global companies unveil new products as technology trade show CES kicks off in Las VegasLAS VEGAS ― The 2012 International Consumer Electronics Show kicked off here on Tuesday with more than 20,000 new consumer technology products to be launched at the world’s biggest industrial trade fair.Industrial giants, including Samsung and LG Electronics, Intel, Microsoft, Sony and Qualcomm, are taking part in the show, holding global press conferences at nearby hotels.Samsung Electronics and LG Electroni

Hyundai edges out Ford, Volkswagen for North American Car of the YearHyundai Motor’s Avante, dubbed the Elantra in overseas markets, has been named the 2012 North American Car of the Year.The winner was confirmed at the North American International Auto Show in Detroit after the compact sedan polled the highest number among a group of 50 motoring journalists from the U.S. and Canada. The Avante has been in a tight race with its fellow finalists ― the Volkswagen Passat and the Ford Motor Focus. T

Google Inc. will help the global success of Korean IT developers as the California-based search giant agreed on Tuesday to participate in the Korean government’s program supporting Internet startup businesses here. Google and the Korea Communications Commission signed a memorandum of understanding on Tuesday to cooperate for the state telecom regulator's  startup support program called “Global K-Startup Program.”The agreement came after President Lee Myung-bak and Google chairman Eric Schmidt me

Unionised workers at South Korea's largest carmaker Hyundai Motor stopped work at engine plants in one factory Tuesday after a union member set himself ablaze due to alleged bullying by bosses. (Yonhap News)The union said workers at the five engine plants in the southeastern city of Ulsan stopped pr

Talking to the TV is usually a sign of extreme agitation, mental instability or loneliness. TV manufacturers are set to make it a more rational behavior this year, with a range of sets that respond to speech. (Yonhap News)LG Electronics on Monday said it will sell a remote with its high-end fla

LOS ANGELES (AP) _ Tim Cook could well end up being the highest paid CEO in America in 2011, after Apple Inc. granted him a million restricted stock units last August for taking the reins shortly before cofounder Steve Jobs died. An Associated Press review of a securities filing shows Cook's pay pac

Head of index compiler MSCI Inc. said Monday that the Korean stock market’s failure to achieve developed status stems from its “inefficiencies." “There are two important areas that need further development,” said Henry Fernandez, chairman and CEO of MSCI, at a news conference held in Seoul to mark the official launch of the company’s Seoul office.  Fernandez said the first issue was the structural problems that hamper the market access for international investors who want to rebalance their equi