Since stepping into politics in 2011 as a fresh alternative, former computer virus vaccine developer Ahn Cheol-soo has received fluctuating reactions from the public, varying from high hopes to utter skepticism.Despite persisting doubts and disapproval, the information technology mogul-turned-politician at last seems to have made his mark as a heavyweight opposition figure, thanks to his party’s surprising achievement in Wednesday’s parliamentary election.People’s Party leader Rep. Ahn Cheol-soo

Business tycoons will soon come under closer watch, as political parties and civic groups are seeking to strengthen monitoring and regulation of their behavior. The move comes amid mounting public criticism toward conglomerate leaders, following a recent series of alleged assault and abuse cases. 　Nonprofit organization Public Welfare Committee recently set up a call center to monitor abusive remarks or acts by owner family members, CEOs or executives in workplaces.“We wanted to get to the botto

Kakao, the operator of South Korea’s most-used mobile messenger, is likely to see its profits nosedive in the first quarter despite its aggressive moves to expand mobile and offline businesses, analyst reports said Tuesday. However, the company’s issuance of convertible bonds worth 250 billion won ($219 million) will clear the uncertainty over its funding needs, they said.Kakao’s net profit in the first quarter is expected to have plunged 45.3 percent year-on-year to 22.1 billion won, and operat

April will be a landmark month for the global success of Hyundai Motor Group as its cumulative global sales is poised to surpass 100 million units. The Korean automotive giant said Monday that the combined global sales of its two automakers -- Hyundai Motor and Kia Motors -- reached 99.7 million units in March, and is expected to cross the 100-million mark this month. “Few automakers in the world have achieved such a sales record in the global market,’’ said Kim Pil-soo, an automotive engineerin

LONDON (AFP) -- British Prime Minister David Cameron on Sunday released his tax details in a bid to head off a row over his father’s offshore business, and announced a new taskforce to scrutinize the so-called Panama Papers.Hundreds of demonstrators rallied outside Cameron’s office Saturday calling for his resignation after he finally admitted to having held shares in his late father’s Bahamas-based investment fund, which cropped up in the documents leaked from Panama law firm Mossack Fonseca.Br

The South Korean food industry pledged Friday to actively partake in new government measures aimed at reducing citizens’ sugar consumption and promoting public health.　Local food companies say they are already engaged in efforts to reduce sugar content in their products and will continue on this trajectory in line with rising health consciousness here and abroad.　“The food industry will actively abide by the government’s new policy toward sugar reduction,” the Korea Food Industry Association sai

From hotels, movies, games and financial services to energy, manufacturing and information technology, there is not one sector across industries or markets that China is not involved in.China’s growth may be losing momentum a bit, but that does not mean Chinese companies do not have the capital to remain acquisitive for businesses that can help them generate more value. And finance is one of many services where they want to get their hands on and boost global competitiveness through acquisitions

Inflectra to be sold 20-30 percent cheaper than original Remicade

The chairman of MPK Group, which runs the Mr. Pizza chain, issued an official apology Monday night on the company‘s website in response to public outcry over his alleged assault of a security guard Saturday night.“It was my mistake. I sincerely apologize to the person who was hurt,” the statement from chairman Jung Woo-hyun reads. “I also apologize for upsetting many others. I take full responsibility for the incident, and regret my actions.”MPK Group chairman Jung Woo-hyun The apology came a da

PARIS (AFP) -- A massive leak of 11.5 million tax documents has exposed the secret offshore dealings of aides to Russian president Vladimir Putin, world leaders and celebrities including Barcelona forward Lionel Messi.  Photo shows the building where the office of Panamanian law firm Mossack Fonseca is located in Panama City, Panama, Sunday. (EPA-Yonhap)An investigation into the documents by more than 100 media groups, described as one of the largest such probes in history, revealed the hidden o

LG Electronics has made diverse new experiments with its smartphones such as the leather-clad G4 and dual-camera phone V10 over the past year. The phones were great but received little acknowledgement from customers.The company has recently come up with another unprecedented phone in the market -- the world’s first modular smartphone G5. But this time the initial market reaction seems quite different, with orders soaring.  According to telecom carriers and retailers, the phone sold more than 15,

Chief says takeover of Hyundai Securities will help bolster its nonbanking portfolio

Samsung Electronics vice chairman and semiconductor business division chief Kwon Oh-hyun was the highest-paid Korean CEO last year, with total earnings of 14.95 billion won ($13 million). His pay has soared nearly 60 percent over the past year, largely driven by the chip division’s robust sales. The division posted a record 12.79 trillion won in operating profits last year. Samsung Electronics vice chairman and semiconductor business division chief Kwon Oh-hyun speaks at a shareholders meeting o

Hanwha Techwin has been chosen as a preferred bidder for Doosan DST by Doosan Group and DST’s sales manager Credit Suisse was perhaps fate, destiny or meant to be. Hanwha Techwin's K9 self-propelled howitzer (Hanwha Techwin)With most analysts, investment bankers and the defense industry having forecast Hanwha Techwin to win armored vehicle and missile launcher system developer DST, Techwin’s announcement Wednesday morning did not come as a surprise. This was because, as industry sources argued,

The FBI has unlocked the iPhone used by one of the San Bernardino attackers, officials said Monday, ending a heated legal standoff with Apple that had pitted U.S. authorities against Silicon Valley.Apple, backed by a broad coalition of technology giants like Google and Facebook, was fiercely opposed to assisting the U.S. government in unlocking the iPhone on grounds it would have wide-reaching implications on digital security and privacy.This Feb. 23, 2016, file photo shows a New York police off