Workers at South Korea's leading carmaker Hyundai Motor Co. have voted down a tentative wage-hike agreement, forcing their labor union to renegotiate the thorny issue, union officials said Saturday.It marks the first time that the firm's unionized workers, currently totaling 49,665, have rejected such an annual pay deal, provisionally agreed, since 2008.A total of 45,777 members participated in Thursday's vote and 35,727 of them, or 78.05 percent, were against the accord. Unionists of Hyundai Mo

[THE INVESTOR] President Park Geun-hye said Thursday that the government may consider deploying an advanced U.S. antimissile shield to a new location within Seongju, in a move seen to embrace the protesting local residents.She also reiterated the necessity and safety of the Terminal High Altitude Area Defense, urging the ruling camp and the corresponding region to cooperate with the government’s plan. President Park Geun-hye.The president’s remarks came during a two-hour meeting with 11 lawmaker

Samsung Electronics Co. said Monday it will hold its global strategic meeting next week, where top executives will share ideas on finding sustainable growth engines.The two-day meeting slated for June 21-22 will be held at its headquarter located in Suwon, south of Seoul. Around 400-500 executives from home and abroad usually attend the biannual gathering.Executives will share ideas on maintaining growth amid the prolonged global economic slump during the close-door event, industry watchers said

KB Financial Group is expected to sign a stock-purchase agreement to take over Hyundai Securities Co. next week, industry sources said Saturday.KB Financial was chosen as the preferred bidder in late March, beating two major rivals, Korea Investment Holdings Co. and Hong Kong-based private equity firm Actis, in the bid to acquire a controlling 22.56-percent stake in Hyundai Securities.The deal came in line with Hyundai Group's efforts to revitalize Hyundai Merchant Marine Co., a key shipping uni

South Korea's top automaker Hyundai Motor Co. took up three out of the top 10 best-selling import cars in Germany, industry data showed Saturday, reflecting its robust sales in the European market.According to the data compiled by the German Association of the Automotive Industry, Hyundai sold 2,116 units of Tucson, a sport utility vehicle in the country last month, which ranked third after the Nissan Qashqai and the Fiat 500.The Hyundai Tucson, which first reached the European market in the sec

South Korean shares are expected to remain in a tight range next week as investors take to the sidelines ahead of corporate earnings seasons at home and abroad, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,972.05 points on Friday, down 0.08 percent from a week ago. KOSPI (Bloomberg)The country's stock market started higher this week as investor sentiment was boosted by gains in Wall Street, but caved in to institutional sell-offs, which was in part o

South Korea's tax office has launched a tax probe on the country's largest church, sources said Monday.According to Yoido Full Gospel Church insiders, the National Tax Service (NTS) has started going through its tax records."The NTS Seoul Regional Office started the tax probe into our church... It has asked us to set up an investigation office at the CCMM building (located in Yeouido, southwestern Seoul)," Reverend Dr. Lee Young-hoon was quoted as saying by several church officials who later rel