Mobile payment services can be an answer to the current controversy over high commission fees for credit card payment, KT chairman Lee Suk-chae said Monday. KT Corp., which became the largest shareholder of BC Card in February, announced in the day the company’s new vision to expand business into mobile payment services. “We would not try to compete with other credit card or communications companies but will offer payment services for them to further grow,” Lee told reporters at KT’s headquarter

Mayor Nam says many Japanese companies looking to relocate to Korean cityFor Gumi, Korea’s Silicon Valley, making sure that foreign direct investment keeps flowing into the city is a daily endeavor.To highlight the city’s appeal as a high-tech powerhouse, Herald Media organized a trip for commercial attaches so that they could get a firsthand account of a city that is a model for overcoming the crisis and fueling the nation’s economy.Gumi’s national industrial complexes were established with the

President Lee Myung-bak on Monday promoted Kim Chun-sig, one of his chief negotiators with North Korea, to vice minister of unification, on the advice of his close friend who became minister a month ago.Lee is also expected to name later this week, after Wednesday’s by-elections, successors to the knowledge economy minister and chief of the Presidential Security Service who resigned last month and last week, respectively. Lee was mulling former and incumbent police chiefs, one of his aides said

The two frontrunners for Wednesday’s Seoul mayoral race braced themselves over the weekend for the last two days of their election campaign, aiming at attracting a maximum number of swing votes.According to recent public polls, the number of undecided swing votes greatly rose, especially among the moderate 40s group, reflecting the public’s disapproval of the mudslinging between the candidates.Na Kyung-won of the ruling Grand National Party focused on getting in direct contact with the voters by

Police find 29 arrangements of surrogate pregnancy, arrests organizer, two women for ova salesDespite its illegality, the trade in sperm and eggs goes on, exploiting sterile couples’ desire to have children. A recent case has highlighted the issue once again.On Sept. 30, the police arrested a 50-year-old man, surnamed Chung, for arranging a surrogate pregnancy for 200 million won ($173,000). He used a blog to recruit women wanting to become surrogates and infertile couples looking for surrogates