Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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GM Korea takes steps to ease downsizing concerns
Union workers at GM Korea Co.’s regional plant said Monday that they were told the management will not insist on introducing a single work shift, a measure that eases fears of downsizing among employees.The carmaker is the South Korean unit of U.S. auto giant General Motors Co. which had announced late last year that it would not be selling Chevrolet-branded cars in Europe from 2016 onward. The decision instantly raised speculation that the automaker would start layoffs in Korea, a major product
MobilityJan. 27, 2014
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Want to get the flu? Volunteers sneeze for science advancement
BETHESDA, Maryland (AP) ―Forget being sneezed on: Government scientists are deliberately giving dozens of volunteers the flu by squirting the live virus straight up their noses.It may sound bizarre, but the rare type of research is a step in the quest for better flu vaccines. It turns out that how the body fends off influenza remains something of a mystery.“Vaccines are working, but we could do better,” said Dr. Matthew Memoli of the National Institutes of Health, who is leading the study that a
TechnologyJan. 27, 2014
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Opportunity still roving on Mars
LOS ANGELES (AP) ― A decade after landing on Mars, the rover Opportunity is still chugging along.Sure, it has some wear and tear. One of its six wheels and two instruments stopped working long ago. It has an arthritic joint. Its flash memory occasionally suffers a senior moment.But these problems are considered minor for a journey that was supposed to be just a three-month adventure.“No one ever expected this ― that after 10 years a Mars exploration rover would continue to operate and operate pr
TechnologyJan. 27, 2014
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TV, Smartphone sales boost LG Electronics earnings
South Korea’s tech giant LG Electronics Inc. said Monday its net loss narrowed in the fourth quarter of 2013 from a year earlier on improved smartphone sales.Its net loss came to 63.4 billion won ($58.76 million) in the October-December period, improving from the 478.1 billion won posted a year earlier, LG Electronics reported in a regulatory filing.Revenue, or sales, edged up 0.8 percent on-year to 14.9 trillion won, and operating profit surged 103.8 percent to 238.1 billion won, it said.For al
IndustryJan. 27, 2014
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Moody's cuts Sony's credit rating to junk
Moody's cut its credit rating on Sony to junk on Monday, saying the Japanese electronics giant had more work to do in repairing its battered balance sheet. The international ratings agency lowered its view of the company to Ba1 from Baa3, meaning its debt is now seen as below investment grade. (AFP)
Jan. 27, 2014
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Samsung Heavy's net drops 20.6 percent on one-off factor
Samsung Heavy Industries Co., a South Korean major shipbuilder, said Monday its earnings dropped 20.6 percent in 2013 from a year earlier due to one-off factors, such as special bonuses payments.Net profit reached 632.2 billion won ($583.7 million) in 2013, compared with 796.4 billion won the previous year, the company said in a regulatory filing.Sales rose 2.4 percent to 14.83 trillion won during the period, while operating profit nosedived 24.2 percent to 914.2 billion won."The poor performanc
IndustryJan. 27, 2014
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LG Chem Q4 net plunges 39.5 percent
LG Chem Ltd., the world's largest lithium-ion battery maker, said Monday its net profit declined 39.5 percent in the fourth quarter from a year ago.Net profit came to 176.88 billion won ($163.3 million) in the October-December period, compared with 292.32 billion won a year ago, LG Chem said in a regulatory filing.Sales fell 0.7 percent to 5.64 trillion won in the same period, while operating profit fell 13.1 percent to 316.36 billion won. (Yonhap News)
IndustryJan. 27, 2014
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LG Electronics' net loss narrows in Q4
South Korea's tech giant LG Electronics Inc. said Monday its net loss narrowed in the fourth quarter of 2013 from a year earlier on improved smartphone sales.Net loss came to 63.4 billion won ($58.76 million) in the October-December period, improving from the net loss of 478.1 billion won posted a year earlier, LG Electronics said in a regulatory filing.Revenue edged up 0.8 percent on-year to 13.9 trillion won, and operating profit surged 103.8 percent to 238.1 billion won, it said.For all of 20
IndustryJan. 27, 2014
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S-Oil's net loss narrows in Q4
S-Oil Corp., South Korea's third-largest refiner, said Monday its net loss narrowed in the fourth quarter from a year earlier.Net loss came to 4.6 billion won ($4.2 million) in the October-December period compared with a net loss of 22 billion won a year ago, the refiner said in a regulatory filing.Sales fell 4.1 percent to 8.04 trillion won in the cited period, and the company posted an operating loss of 52.65 billion won compared, sharply turning around from an operating profit of 35.16 billio
IndustryJan. 27, 2014
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Civic group urges resignation of financial heads over data leak
The country's chief economic policymaker and top financial regulators should resign over the recent unprecedented theft of confidential data of 20 million people, a leading civic group demanded Monday.Early this month, the Financial Services Commission, the country's financial regulator, revealed that some 20 million card and bank users' personal data, including bank account numbers, addresses and credit ratings, had been leaked from KB Kookmin, Nonghyup and Lotte.A leak also occurred at a bank
Jan. 27, 2014
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Park rebukes finance minister over data leak remarks
President Park Geun-hye issued a rebuke to the finance minister Monday after he suggested consumers are also at fault in the data leak crisis, saying she would hold anyone who makes similar hurtful remarks accountable.Finance Minister Hyun Oh-seok caused uproar by suggesting that consumers were also to blame for not taking caution in providing their personal information. Hyun, who doubles as deputy prime minister, apologized, but the opposition party has been demanding his resignation."It is reg
Jan. 27, 2014
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LG Innotek posts net loss in Q4
LG Innotek Co., an electronics parts maker affiliated with South Korea's LG Group, said Monday it posted a net loss in the fourth quarter despite improved operating profits.Net loss came to 12.5 billion won ($11.6 million) in the October-December period, improving from the net loss of 30.5 billion won posted a year earlier, LG Innotek said in a regulatory filing.Revenue edged down 5.1 percent on-year to 1.54 trillion won in the fourth quarter, while operating profit came to 28.8 billion won, soa
TechnologyJan. 27, 2014
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S. Korea, India to hold talks on upgrading free trade pact in March
South Korea and India will hold trade ministerial talks in March to expand the level of their market liberalization under a bilateral free trade agreement already in effect, South Korea's trade minister said Monday.The talks will be a follow-up to a verbal agreement between South Korean President Park Geun-hye and her Indian Prime Minister Manmohan Singh during Park's trip to India last week. South Korea has repeatedly asked for an upgrade to the bilateral trade pact, known as the comprehensive
Jan. 27, 2014
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LG Electronics' net loss narrows in Q4
South Korea's tech giant LG Electronics Inc. said Monday its net loss narrowed in the fourth quarter of 2013 from a year earlier on improved smartphone sales.Net loss came to 63.4 billion won ($58.76 million) in the October-December period, improving from the net loss of 478.1 billion won posted a year earlier, LG Electronics said in a regulatory filing.Revenue edged up 0.8 percent on-year to 13.9 trillion won, and operating profit surged 103.8 percent to 238.1 billion won, it said.For all of 20
TechnologyJan. 27, 2014
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S. Korea takes first step toward moon exploration
South Korea launched a program Monday for research and development of basic technologies aimed at exploring the moon.The program seeks to develop four major technologies required to build a spacecraft, rover, deep-space station and other equipment, according to the Ministry of Science, ICT and Future Planning."Exploration of the moon requires related technologies from various fields ranging from information-technology and nuclear energy to robotics and resource exploration, and thus the new rese
IndustryJan. 27, 2014
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Hyundai Mobis net profit edges up 0.5 percent in Q4
Hyundai Mobis Co., South Korea's largest auto parts maker, said Monday its fourth-quarter net profit edged up 0.5 percent from a year earlier due to overall increase in sales.The bottom line came to 905.2 billion won ($834.9 million) in the October-December period from 900.3 billion won a year earlier, the company said in a regulatory filing.The company said sales jumped a solid 11.1 percent to 9.19 trillion won and its operating profit gained 5.2 percent to 870.7 billion won. The company's sale
IndustryJan. 27, 2014
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SK Telecom teams up with global players for M2M
South Korea's No. 1 mobile carrier, SK Telecom Co., said Monday it has joined hands with 10 global telecommunication firms to seek cooperation in developing machine-to-machine technologies.SK Telecom said it has joined the so-called Bridge M2M Alliance with players in a handful of Asian countries such as Singapore, Vietnam and India, as well as with an Australian mobile carrier.The M2M technology allows both wireless and fixed-line systems to communicate with other machines, providing customized
TechnologyJan. 27, 2014
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Gov't to crack down harder on phone fraud schemes
The government is seeking to root out phone-based financial frauds amid rising public concerns that the personal data stolen in recent information thefts will be used by scammers, industry sources said Monday.According to the sources, the government and political parties are poised to pass a revised bill on personal data protection next month that strengthens requirements for short message service providers and strictly regulates data sharing among corporate affiliates.Early this month, the Fina
Jan. 27, 2014
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S. Korea's int'l air passenger traffic reaches new high in 2013
Airline passengers coming to and from South Korea rose to a new annual high in 2013, with the number of domestic air passengers also marking a significant growth, the government said Monday.International passenger traffic to and from the country came to 50.99 million last year, up 6.9 percent from 47.7 million in 2012, according to the Ministry of Land, Infrastructure and Transport.The country's overall air passenger traffic rose 7.27 percent on-year to 74.34 million, as the number of domestic a
IndustryJan. 27, 2014
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S. Korean firms' biz sentiment remains gloomy next month
South Korea's major companies forecast their business conditions to remain gloomy in February due to a drop in profitability and persistent economic uncertainties, a poll showed Monday.The business survey index came to 88.7 for next month, down from 93.4 for January, according to the poll of the top 600 companies by sales conducted by the Federation of Korean Industries.A BSI reading below the benchmark 100 means pessimists outnumber optimists.The index has been below 100 for the fourth straight
Jan. 27, 2014