Amore Pacific on Monday held a groundbreaking ceremony for its new production and research facilities in Shanghai, which the company said will boost its efforts to expand Chinese business. The cosmetics company says it plans to renovate its existing production center, which opened in 2002, and build new facilities on the 92,788 square-meter site in Jiading District, northwestern Shanghai. When construction is completed in March 2013, the facilities will be the largest in China established by a K

Nexon on Monday announced a plan to strengthen security measures against hacking, but faced a public backlash after a massive leak of personal information of millions of users. On Thursday, the company found that its massively multiplayer online role playing game “Maple Story” had had its backup server hacked and the information of 13.2 million of the 18 million registered users had been stolen.This is the third-largest case of its kind in the three months since the biggest-ever hacking case in

Finance Minister Bahk says greater uncertainty calls for long-term policy measuresKorea’s finance minister said on Monday the government will focus on revitalizing the economy and pushing for sustainable growth next year. Finance Minister Bahk Jae-wan said in a meeting with the heads of think tanks that the global sovereign debt crisis is generating high volatility and low growth, which will continue for a considerable period of time. Bahk’s remarks come as the Korean economy is confronting a sl

Chairman Kim to discuss measures for low carbon-based growth at high-level aid forum in BusanKorean policymakers are paying close attention to green growth at home and abroad as one of the nation’s future development engines.The 4th High Level Forum on Aid Effectiveness, slated for Nov. 29-Dec. 1 at the BEXCO in Busan, is expected to be an opportunity for the nation to take the initiative in emphasizing the need for global cooperation on green growth.Kim Yong-hwan, chairman and president of Expo

Lee promotes ‘kinder capitalism’ that seeks shared growth between large and small companiesLarge conglomerates such as Samsung, LG and Hyundai have been the key driving forces and big brothers of the Korean economy for decades, shepherding in thousands of smaller suppliers.But with the conglomerates’ dominance having risen to an extent that many suppliers are bullied to cough up the lowest possible prices and put up with irregular trading practices, calls for greater social responsibility among

TOKYO (AFP) ― Japanese auto giant Toyota is in discussions with BMW over a partnership in eco-friendly cars, a press report said Saturday.Under the deal, the German automaker would provide diesel engines for Toyota vehicles, while Toyota would share its hybrid technology, the business daily Nikkei said.It would mark Toyota’s second green-technology tie-up with a major foreign automaker, following its agreement in August to develop hybrid-vehicle systems with Ford of the United States.A Toyota sp