City car sales rose to a new record during the first five months of the year, industry data showed Wednesday. According to the Korea Automobile Manufacturers Association, 75,495 units of city cars ― automobiles with engine displacements of up to 1 liter ― were sold here during the first five months of the year.Compared to the same period last year, the figure is an increase of 16.4 percent. In com

(Left) Hyundai Heavy Industries CEO Lee Jai-seong(Right) Samsung Heavy Industries CEO Roh In-sikKorean shipbuilders dominate global market with Hyundai Heavy challenging SamsungThe competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. As drillships represent something of a golden egg for shipbuilders, a drills

LOS ANGELES (AP) ― Nintendo has introduced the world to the Wii’s touchy new big brother: the Wii U.The Japanese gaming giant on Tuesday unveiled the Wii video game console’s successor, which will broadcast high-definition video and feature a touchscreen controller that can detect motion and interact with what appears on a television display. Satoru Iwata, president of Nintendo Co., introduces the

WASHINGTON (AFP) ― U.S. President Barack Obama warned Europe’s debt crisis must not destabilize the global economy, as he laid on an effusive White House welcome for German Chancellor Angela Merkel.Obama and Merkel had extensive talks about the plight of debt-stricken Greece, which needs a second huge financial bailout, despite some reluctance from some eurozone members to stump up fresh funds.“I

Works on the country’s first plant for producing synthetic natural gas got underway at POSCO’s steelworks in Gwangyang, South Jeolla Province on Tuesday.Synthetic natural gas is a synthetic fuel with an identical composition to natural gas. It is produced by gasifying coal under high pressure and temperature.The plant is scheduled for completion at the end of 2013, and will be capable of producing

KT chairman Lee Suk-chae (center) receives the IEEE Distinguished Industry Leader Award in Kyoto on Tuesday. At right is IEEE fellow Lee Byung-ki and at left is head judge Vincent Poor. (KT Corp.)KT chairman Lee Suk-chae received the IEEE Distinguished Industry Leader Award on Tuesday, which is considered to be one of the most prestigious awards in the field of information and technology.Given by

LG Electronic launched its Cinema 3-D televisions at Ferrari World, the world’s largest theme park in Abu Dhabi on Monday to mark its foray into the Middle East and Africa, the Seoul-based company said Tuesday. The electronics maker is now aiming for a 40 percent market share of the 3-D industry in the region. “We believe that our products will be able to offer distinguished, next generation 3-D t

Academics and leaders in the industrial and public sectors around the world underscored Tuesday the significance of research and development in securing sustainable, mutual growth.Around 500 officials and experts in science and technology from more than 10 countries took part in the Global R&D Forum 2011 hosted by the Ministry of Knowledge Economy in Seoul.  International scholars and experts atte

A tripartite tie-up between multinational companies, conglomerates and small- and mid-sized firms is one way the Korean government can attempt to cope with the daunting task of leveling the corporate playfield, says the head of the Korean CEO’s Association of Multinational Corporations.“We may have the drive and means for helping these small- and mid-sized companies, but it can’t be done without a