Rising gas prices may be inconvenient but they make scooters and motorbikes better options, especially with summer just around the corner. Compact motorbikes have been gaining popularity among riders, particularly those in their 20s and 30s looking to add style to their riding experience. Scooters and motorbikes come with fuel efficiency of at least 30km per liter, making them especially attractiv

Hana Fnancial Group chairman Kim Seung-yu said Friday that his company would be able to agree with the U.S. Lone Star Funds to extend the deadline for the takeover of Korea Exchange Bank. “We can draw a conclusion by next weekend,” Kim told The Herald Business, the sister paper of The Korea Herald.The two sides are in talks to extend their May 24 deadline. Kim reportedly flew to Tokyo on Wednesday

Bancorp CEO says new rules would be desirable for megabanks in KoreaBetsy Cohen, founder and CEO of U.S. internet retail bank Bancorp Inc., said tightening capital and liquidity rules should come before the creation of the megabank due to be formed by the privatization of Woori Financial Holdings.“Size is not protected easily. Activities of large institutions carry a great deal of risk for a wider

Lotte Mart has begun selling bargain chicken priced at 7,000 won ($6.42), reigniting controversy over fair competition between large retailers and smaller eateries.The black garlic flavored chicken has been on sale since Thursday at the retailer’s 88 stores across the country at a price 2,000 won cheaper than its earlier chicken release in December. As sales of its earlier product, dubbed ultra ch

The Korea Customs Service will add an electronic tracking system on goods to tighten supervision on transshipment while enhancing custom procedures for an economy increasingly opening up to free trade agreements, the state agency said Tuesday.In a proposal outlining the agency’s medium-term goals, the KCS said it will adopt the new inspection system that applies minimal customs procedure for hones

College graduates took up a bigger portion of the country’s workforce than high school graduates for the first time, Statistics Korea said Tuesday.Jobs taken by graduates from universities and vocational colleges totaled 9.54 million as of March, exceeding those taken by high school graduates, 9.5 million.The trend continued through April, with college graduates topping the figure by 25,000 at 9.5

Contrary to the market’s initial projection of a rate hike to tame inflation, the Bank of Korea kept the benchmark interest rate unchanged for a second month at 3 percent Friday.The BOK’s decision followed a decline in consumer and producer prices in April, helped by fresh spring food crops and recent gains in the Korean won. BOK Governor Kim Choong-soo (Yonhap News)Still, it came as unexpected to

There were more hostess bars at the height of the financial crisis than five years previously, showing, the entertainment business resilience even while most other sectors suffered, a government report said Thursday.The data collected by the Ministry for Food, Agriculture, Forestry and Fisheries said 609 hostess bars, or room salons, opened between 2004 and 2009.There were 30,466 hostess bars as o