Mobile carriers urge KCC to block Kakao’s free phone service
The domestic mobile carriers ― SK Telecom, KT and LG Uplus ― are expected to urge the telecommunications regulator to block Kakao Talk’s free voice service, which started here Tuesday. They claim that the free call service offered by the nation’s most popular mobile messenger service provider could deal a mortal blow to them. However, […]
Korea has ability to combat crisis: Moody’s
Korea is well-positioned to weather the worsening global conditions thanks to its fiscal strength, the health of its banking system and manageable external positions, a senior official from Moody’s said. However, the historically high level of household debt, which continues to pose a considerable threat to financial stability, may have compromised the country’s ability to […]
Retooling business model
Kakao Talk to enter social commerce market Kakao Talk, Korea’s most popular mobile messenger service, has acquired a social commerce company as part of its efforts to turn lucrative. But experts say the firm will face difficulties ahead. “There’s no guarantee that Kakao Talk’s bet will pay off as the local social commerce market is […]
English divide deepens further
The massive gulf between the rich and poor contributes to a dramatic disparity in English skills, government researchers said Monday. With the economy in decay, low-income earners are unable to pay for private language courses while the quality of public education just isn’t cutting it. This marginalizes them in society even more as English proficiency […]
‘Korean dream’ has a long way to go
Shift from brain drain to talent circulation Brain drain has long been issue for Korea because of the large numbers of students and professionals who move abroad. But now, foreign talent is choosing to come here, and encouraging professionals from abroad to continue working in Korea is a priority. S. Imtiaz Ali is a veteran […]
NK’s economic reliance on China increases
North Korea’s trade dependence on China grew by leaps and bounds last year while economic relations with South Korea remain frozen, according to a report released Friday by Korea Trade-Investment Promotion Agency (KOTRA). In 2011, 89.1 percent of Pyongyang’s total external trade came from its neighboring economic powerhouse China recording $5.6 billion, a 62.4 percent […]
‘Apple CEO would want to drop lawsuit’
Wozniak calls for Korean companies to become more innovative Apple co-founder Steve Wozniak said that the ongoing patent battle between Apple and Samsung Electronics is doing no good to anyone, citing the dispute as a “pain in the ass.” “I have no details and paid no attention about the talks between Apple CEO Tim Cook […]
Blizzard probed over Diablo 3
The government has launched an investigation into Blizzard Entertainment over allegations that the American computer gamemaker has refused to refund Koreans who purchased its latest real-time role-playing game Diablo 3. The Fair Trade Commission (FTC) said the firm is suspected of having violated the country’s law on electronic commerce and commercial contracts. The FTC said […]
Scholars prefer FTA to TPP for East Asian countries
Scholars of South Korea, Japan and China exchange talks under the theme of Nuclear Security and Regional Community in the second East Asian Community Forum held at the International Studies Hall in Korea University on May 26, 2012. The scholars of South Korea and Japan expressed opinion that the Trans-Pacific Partnership (TPP) being pushed ahead by […]
Alcohol, tobacco and wealth
Income gap hardly affects consumption of ‘sin products’ The conventional wisdom holds that if you earn more, you will spend more on alcohol and cigarettes as economists rationalize they are non-essential goods. But this often turns out to not be the case. According to the latest report on household consumption patterns by Statistics Korea, there […]
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