FSS to demand criminal probe on stock tradingThe Financial Supervisory Service plans to ask the prosecution to investigate Deutsche Bank AG and several individual investors for allegedly engaging in fraudulent stock trading, sources told The Korea Herald on Wednesday.The financial regulator has completed its investigation into the Germany-based investment bank’s brokerage unit in Hong Kong. It pla

A top executive of Boeing Korea said Wednesday the global aircraft builder is planning to make a second bid to provide the presidential airplane after its failure last year. “Providing presidential airplane is very important to Boeing,” Pat Gaines, president of Boeing Korea, told reporters during a press conference in downtown Seoul.  Pat Gaines, president of Boeing KoreaThe statement comes as Boe

Twitter Inc. introduced two new services for Koreans on Wednesday, seeking to gain greater influence in a nation with an advanced communications infrastructure and one of the most active Internet populations.In a press conference in Seoul, Twitter co-founder Evan Williams said Twitter has opened its website in the Korean language Wednesday.Twitter has also formed partnerships with local companies

Growing regional integration poses challenge to Korean bourse: analystsDespite its much-touted efforts at globalization, the Korea Exchange risks lagging behind its Asian rivals in the trend toward a regional networking and consolidation, analysts said.The number of listed firms and the scale of share turnover ― the two most important factors in attracting investors ― may be clogged up for the Seo

UAE says green city to be built by 2025ABU DHABI ― Officials from the United Arab Emirates’ capital outlined their plans to promote the use of clean energy at the 4th World Future Energy Summit Tuesday.The country which produces 8 percent of the world’s crude oil supply is working on establishing a green urban area named Masdar City by 2025. Masdar means “source” in Arabic. The venue, which is bei

Korean firms strive to tackle shortages of trained workers due to demographic changeA rapidly aging population poses a grave challenge to Korean manufacturers, which have seen a large number of skilled workers retire. Hyundai Heavy Industries, the world’s largest shipyard, is suffering most from the trend. A record number of 950 reached retirement age last year. The numbers are estimated to be 800

Top U.S. financial regulator issues recommendations to implement controls on banksRegulators should carry out a “robust implementation” of the Volcker rule by forcing banks to wind down or sell trading desks that don’t comply with the law, the U.S. Financial Stability Oversight Council said.Government agencies should require banks to perform “quantitative analysis to detect potentially impermissib

LG Uplus, the country’s smallest mobile carrier, said Tuesday that it will officially begin providing mobile office support for small and mid-sized firms.In a joint effort with Microsoft, the company will use the global firm’s software platforms and cloud services like Software as a Service in a bid to jump into the local mobile office market.This comes after LG Uplus and Microsoft formed a strate

Consumption soars to record amid deep chill, fueling power shortage concernsThe government is introducing a series of contingency measures to cut power consumption as the cold spell drives up electricity demand to record levels.With the cold snap gripping the nation, even in the warmer southern regions, electricity demand has shot up, setting new records three times already this month.On Monday, t

LONDON (AFP) ― WikiLeaks founder Julian Assange vowed to publish secret details of offshore accounts after a Swiss banking whistleblower handed over data Monday on 2,000 purportedly tax-dodging individuals and firms.Former Swiss banker Rudolf Elmer, who worked for eight years in the Cayman Islands, a renowned offshore tax haven in the Caribbean, personally gave Assange two CDs of data at a London

Service robotics emerges as the next technology frontier with advancing skills, surging demandThese days, visitors to the presidential office in Seoul are getting a taste of the future. At Sarangchae, a museum affiliated with Cheong Wa Dae, a kiosk-shaped robot greets guests with a heartwarming smile. Named Tiro, the machine introduces Korea’s culture and gives directions and answers in four diffe