The Korea Communications Commission said Thursday that it decided not to allow a fourth telecom to establish in the local market due to its lack of business strategies and funding abilities.During the weekly general meeting, commissioners of the state-run telecom regulator rejected Korea Mobile Internet’s proposed project plan to take position as the fourth telecom.The commission also turned down

SK Telecom, Korea’s top mobile operator, will start selling the iPhone next month in a break from Apple’s practice of selling the smartphones via a single distributor in each major market, industry source said Thursday.“Negotiations between SK Telecom and Apple are in the final stage,” said the source who is familiar with the matter. “As the negotiations are going smoothly, it is virtually decided

Renault Samsung Motors Co.’s sales staff recorded the highest average monthly sales figure among local carmakers, the company announced Thursday.According to the company, the 2,342 sales staff working at its 195 sales agents sold 155,696 last year, putting the average monthly sales figure per person at 5.4. The figure per sales agent came in at 65 units per month. The company did not disclose figu

  Foreign ownership of South Korea's land rose slightly last year, but its growth rate remained relatively slow compared with levels tallied before the financial crisis, a government report showed Thursday.   Foreigners owned a total of 223.72 million square meters of land in the country at the end of last year, up 2.4 percent from a year earlier, according to the report by the land and transport

MUMBA (AFP) ― BP’s multi-billion-dollar tie-up with Reliance will accelerate fuel-hungry India’s exploration for energy and hand the Indian giant the skills to develop hard-to-exploit reserves, analysts say.The British energy group on Monday agreed to pay $7.2 billion for a 30-percent stake in Reliance’s 23 largely unexplored deepwater oil and gas fields off the coast of India, which cover an area equivalent to the North Sea.The tie-up with embattled BP, which this month reported its first annua

Samsung Electronics said on Wednesday that it has developed the world’s first full-color quantum dot display, paving the way for the next-generation products that are cheaper but more vivid and energy-efficient.Quantum dots are semiconductor nanocrystals that become luminous in reaction to current or light. They have emerged as a next-generation photonic method due to its finer color expressions a

The International Monetary Fund will release a report next week highlighting South Korea’s successful policy response to speculative capital inflows, a government official said. The report will exemplify the Finance Ministry’s imposition of taxes and limits on speculative trading as legitimate macro-prudential measures. “The IMF is to release a report about the emerging market’s combating of hot m