Louis Vuitton and other global luxury goods makers saw their profits soar in South Korea in the last decade but remained reluctant to make social contributions, their financial statements showed Sunday.Louis Vuitton Korea Ltd., a unit of the world’s largest luxury goods maker LVMH Moet Hennessy Louis Vuitton SA, posted higher net profit growth than any other luxury goods maker in South Korea, acco

Shipbuilding giant STX Group on Sunday said it has sold 250 billion won ($236 million) of overseas assets to secure the funds to purchase a 15 percent stake in Hynix Semiconductor against its bidding rival, SK Group. STX Europe Holding, a wholly owned subsidiary of the STX Group, sold an almost 20 percent stake of its Singapore-based STX OSV Holdings to an investment fund to help pay for the $2.3

Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its sales in June rose21.8 percent from a year earlier as a jump in overseas sales offset decreased domestic demand.The company sold 217,315 vehicles overall last month, compared with 178,391 vehicles sold a year earlier. Domestic sales dropped 5 percent on-year to 42,200 units in June, but exports spiked 30.7 percent to 17

SEOUL, July 10 (Yonhap) -- South Korea's leading automaker Hyundai Motor Co. said Sunday that it has launched a new Sonata turbo model with upgraded performance and competitive options designed to meet consumer demands.The new model of the top selling mid-size sedan has a 2.0-liter gasoline direct injection (GDi) engine that produces a maximum horsepower of 271 and 37.2 kilogram-meters of torque.

  South Korean stocks are expected to continue their upward march next week on the back of favorable market conditions, analysts said Saturday.    The country's key stock index, the KOSPI, gained 2.57 percent, or 54.61 points, this week to close at 2,180.35 on Friday, despite the lingering debt crisis in Europe and a rate hike by China.   Next week is packed with major events such as the central b

   WASHINGTON -- The leader of the U.S. House of Representatives on Friday voiced clear opposition to President Barack Obama's push to package three pending trade pacts with a worker assistance program.   "We expect in the House to move four separate bills, and I would hope they would heed our advice," House Speaker John Boehner (R-Ohio) told reporters.   His firm stance came a day after key commi

Hana Financial Group and Lone Star Funds reached an agreement to extend a deal to buy Korea Exchange Bank within six months, Hana said Friday.Hana, the nation’s No. 4 banking group, held a meeting of its board members later in the day to review the terms of the deal.In November, Hana struck a deal with the U.S. buyout fund to acquire its controlling 51 percent stake in KEB for 4.69 trillion won ($

British American Tobacco Korea said it reduced the price of the superpremium “Dunhill SWITCH” by 200 won to 2,800 won ($2.60) from Friday.BAT Korea reportedly said the company took the action in consideration of consumers’ burden on the price of the cigarettes.The company introduced the new brand with “RELOC” inner wrapping on the local market on June 7. (cheesuk@heraldm.com)

The Korea Communications Commission said Friday it has dispatched a group of officials to the headquarters of Apple Inc. and Google Inc. in the U.S. for its ongoing probe over location data storage.The investigation committee, which consists of six experts from the KCC and the Korea Internet & Security Agency, will overhaul how the two tech giants utilize resources stored in their servers until Ju