Asian economies’ growth slowdown, inflation concerns remainAsian policy makers need to tackle rising inflationary pressures in their economies even as global growth weakens, the Asian Development Bank said. The region can use monetary and fiscal policies as well as exchange rates to ease price pressure, the Manila-based lender said in its Asia Economic Monitor report Thursday. Asian economies also

Kim Kuen-ho, chief executive of the Korea Water Resources Corp., will retain the office for another year, the Ministry of Land, Transport and Maritime Affairs said Tuesday.The ministry said it received approval from President Lee Myung-bak for its request that Kim be reappointed for an additional year. His three-year term expired Wednesday. Kim Kuen-hoThe decision reflects the ministry’s efforts t

SK Communications Co. said on Thursday that personal information of its 35 million online users has been hacked, marking South Korea’s worst online security breach and sparking fears that the leak could lead to massive online and voice scams in coming weeks.  (Yonhap News)“The company has confirmed that a leak of customers’ information has taken place due to hacking on July 26,” SK said in a state

Export growth eases, inventory tumbles amid rising pricesSouth Korea’s economic growth slowed down in the second quarter, hurt by lower-than-expected exports and a steep decline in inventory amid intensifying worries over rising prices at home and the sovereign debt crisis in Europe. Korea’s economy grew 0.8 percent in the April-June period, down from a 1.3 percent expansion in the previous quarte

Air France, the first European carrier to enter the Korean market almost three decades ago, weathered a fair amount of storms here, but it never once thought to cut its services.Instead, it bet even bigger and pledged to stay for the long-term.This unwavering sense of commitment became the driving force behind the company’s fast and steady growth in Korea and Asia, said Erik Varwijk, executive vic

Hanwha Group, one of the nation’s top conglomerates, will focus its resources on solar power and biosimilar business over the remainder of the year, the group said Wednesday.According to the plans, the conglomerate will direct much of its investment budget for the period into polysilicon production facilities, expanding solar cell and module production lines, biosimilars and other new business are

Starbucks Korea is considering launching its instant coffee mixes here soon, the president said Wednesday marking the 12th anniversary of the Seattle-based company’s Korean business.“The instant coffee brand, which was launched last year in Japan following the U.S., Canada, and the U.K., would be introduced to Korean consumers,” Lee Suk-koo, the head of Starbucks Korea, said in a press conference