Posco Daewoo, a unit of the country‘s top steelmaker Posco, opened a store in Yiwu in China’s Zhejiang province to promote products made by some 60 Korean small and medium-sized enterprises, the company said Friday. The products, 543 in total, include cosmetics and baby supplies.“We have put together a new business model helping SMEs make inroads into overseas markets, through cooperation with Korean and Chinese local governments,” said Kim Young-sang, CEO of Posco Daewoo. “In the future, we wil

The Moon Jae-in government’s push to scrap base rates for mobile bills is under criticism, from both consumer activist groups and the telecommunications industry due to conflicts of interests. Abolishment of the mobile tariffs was one of President Moon’s key pledges, which was supported by young and low-income voters who have been suffering high mobile costs.  (Yonhap)However, the Green Consumer Network in Korea said in a statement on Thursday that Moon’s committee on planning national affairs i

South Korea’s mobile carriers are teaming up with home builders in the arena of Internet of Things services, industry officials said Friday. KT, the country’s second-largest telecom firm, said it signed a contract with construction project executor Daewon Plus R&D to apply KT’s GiGA IoT Home Plug to 646 studios in a new office building, to be built by 2019 on Incheon’s Yeongjong Island. Residents will be able to control the entrance door and windows via a smartphone app when away, in addition to

Smoking and other tobacco use kills more than 7 million people each year, the World Health Organization said Tuesday, also warning of the dire environmental impact of tobacco production, distribution and waste.The UN agency said tougher measures were needed to rein in tobacco use, urging countries to ban smoking in the workplace and indoor public spaces, outlaw marketing of tobacco products and hike cigarette prices.In a report, WHO warned that the annual death toll of 7 million people had jumpe

Victims of Japan’s wartime sex slavery voiced their support for Kang Kyung-wha as foreign minister of South Korea on Thursday. “(Nominee) Kang Kyung-wha should be appointed as foreign minister,” said Lee Yong-soo, one of the three victims present at the conference held in Seoul. “Kang visited (on Friday) and consoled us with tears in her eyes. She promised to solve the comfort women issue, if appointed.”　 (Yonhap)Last week, Kang visited the House of Sharing in Gwangju, a shelter for the former “

Korea Development Bank and Export-Import Bank of Korea will begin injecting emergency fresh funds next week into ailing Daewoo Shipbuilding & Marine Engineering, which has been facing a massive cash shortage crisis.According to the creditors Thursday, both Korea Development Bank and Export-Import Bank of Korea will each extend 100 billion won ($89 million) for a total of 200 billion won to the company Monday.  (Yonhap)Creditors initially planned to extend financial assistance to DSME last month,

Former FBI Director James Comey isn’t leaving much in doubt. In his testimony prepared for his appearance before the Senate Intelligence Committee on Thursday, Comey states that Trump considered the FBI probe into whether Trump associates colluded with Russia agents a “cloud” hobbling his presidency. He wanted Comey’s help to “lift” it.Oh, and one more thing. The president who routinely calls the allegations of collusion a “hoax,” wondered out loud to Comey if perhaps some of Trump’s “satellite”

When Pope Francis met United States President Donald Trump last month at the Vatican, he urged him to be a man of peace.　True or false?Did the Pope actually comment to Mrs Melania Trump on her husband‘s girth and wonder what she was feeding him?Was Mr. Trump there to thank the Pope for his endorsement during his election campaign?True, true and false; the pontiff never gave the former American tycoon his backing, contrary to what some websites had claimed.Herein lies the most insidious form of f

President Moon Jae-in is slated to visit the National Assembly next Monday to highlight the need for a 11.2 trillion won ($9.97 billion) extra budget to boost employment in the public sector, according to the ruling liberal Democratic Party of Korea.“After talking with Cheong Wa Dae, we have agreed that President Moon is to make a speech on the extra budget at the general meeting on June 12,” Rep. Je Youn-kyung, the party’s spokesperson, told reporters Thursday.(Yonhap)The president, whose first

President Moon Jae-in on Thursday called for more effective solutions for the recent spread of bird flu, reprimanding government officials for reports and actions he considered insufficient, according to Cheong Wa Dae.“President Moon pointed out that all the reported measures seem to be but formalities,” spokesperson Park Soo-hyun said in a briefing, quoting the president’s remarks during a regular secretariat meeting in the morning.“Demanding that (the government) take the naturalization of the