Korean exports to the European Union are expected to register solid gains once a bilateral free trade agreement takes effect, a local trade organization said Wednesday.The Korea Trade-Investment Promotion Agency (KOTRA) said a survey of Europe’s 26 largest importers showed they will increase their purchases of Korean products by up to 15 percent once the Korea-EU FTA is enforced.The trade deal, si

CEO says company will focus on product diversity and convergence with telecom sectorKB Kookmin Card set out its ambition to take the No. 1 position in the domestic market as the former Kookmin Bank unit, restarted as a separate corporation on Wednesday.KB Financial Group launched the stand-alone credit card firm eight years after the money-spinning unit was merged into the bank in 2003.The unit ha

Korea United Pharm. Inc., a local pharmaceuticals producer, launched a new social contribution project aimed at helping underprivileged senior citizens in Gangman-gu in southern Seoul on Monday.For the project, the company’s United Foundation signed an agreement with the Korean Senior Citizens Association and Gangnam-gu Office to collaborate on the project. Korea United Pharm CEO Kang Duk-young (r

KT Corp. announced Wednesday that it has established a fourth generation wireless broadband (WiBro) network across the nation, enabling users to gain faster access to the Internet on their mobile devices.Pyo Hyun-myung, president of KT’s mobile business group, said the country’s top wireless Internet zone operator has set up the high speed network in 82 cities and on seven highways nationwide to k

The Walt Disney Company announced on Wednesday it appointed Luke Kang, a broadcast media specialist, as new senior vice president and managing director for the Korean unit.Kang, a Korean-American, will oversee the unit’s strategy and business and coordinate Disney global franchises in the market, the company said in a statement. Luke Kang“The combination of Disney’s award-winning content with Kore

Doosan Engine Co., the world’s second-largest maker of ship engines, said orders may more than double this year as shipping lines resume fleet-enlargement plans and the company works to expand its non-marine businesses.Contracts may climb to 1.8 trillion won ($1.6 billion) from 890 billion won last year, chief executive Lee Sung-hee said in an interview at the engine maker’s headquarters in Changw

The Korean corporate sector, despite its rapid industrial success and latest attempts to become a trusted member of the global corporate society, has yet to gain the full trust of global opinion leaders, an executive of PR firm Edelman said. In its annual survey for measuring trust in business, government, NGOs and media in over 20 nations, the company said that opinion leaders across the world le

State-run mineral developer looks to Africa, South America to ensure stable supply of resourcesKorea Resources Corp. is at the forefront of Korea’s drive to secure stable supplies of natural resources including rare earths crucial to its high-tech economy.Global competition is growing to secure sources of 17 scarce metals used to make cutting-edge products such as mobile phones, electric cars, win

Daewoo Shipbuilding & Marine Engineering Co., South Korea's No. 2 shipbuilder, said Wednesday that it has won a 1.2 trillion won ($1.06 billion) order to build two drill ships.Under the deal with Aker Drilling of Norway, Daewoo Shipbuilding will deliver the vessels, used to explore for oil and gas wells in deep waters, by 2013, the company said in a statement.Daewoo Shipbuilding said it has an opt