Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Yoon, Lee end first talks with differences, agree to meet more
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Woman gets suspended term for injuring boyfriend with knife
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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What is Hybe’s next move?
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Samsung chief bolsters ties with Germany’s Zeiss
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Shinhan Financial gives global experience to disabled youth
Shinhan Financial Group launched the ninth fellowship for youth with disabilities, who will be dispatched to six continents to gain a global experience and vision, at a ceremony in Seoul on Wednesday.Dubbed “Global Challenges of Youth with Disabilities,” the annual program kicked off with a launching ceremony at the Press Center in central Seoul.Besides young participants, officials of Shinhan Financial Group and the Korean Society for Rehabilitation of Persons with Disabilities attended the cer
Aug. 22, 2013
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Brokerages lay off analysts amid economic slump
South Korean securities firms are tightening their belts by trimming the number of analysts, data showed Thursday, as the prolonged economic slump dented their earnings.The total number of analysts at 58 local securities firms came to 1,385 as of Wednesday, down 4.81 percent from end-December 2012, according to the data compiled by the Korea Center for International Finance.Of the brokerage houses tallied, 31 companies reduced the number of their analysts, while only 15 firms hired more.Taurus I
Aug. 22, 2013
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Scientists find another flu virus
PARIS (AFP) ― Scientists studying the H7N9 bird flu virus that has killed more than 40 people since March said Wednesday they had discovered another H7-type virus lurking in chickens in China.Dubbed H7N7, the virus was able to infect mammals in a lab experiment, said the team, warning H7 viruses “may pose threats beyond the current outbreak.” “The continuing prevalence of H7 viruses in poultry could lead to the generation of highly pathogenic variants and further sporadic human infections,” they
TechnologyAug. 22, 2013
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S. Korea's Arirang satellite gets green light for launch
South Korea was set to launch a multipurpose satellite later Thursday, with the Russian government giving its final approval for the scheduled launch from its Yasny launch base, officials here said.The Korea Multipurpose Satellite 5 (KOMSAT-5) is scheduled for launch at 8:39 p.m. (11:39 p.m. KST), using Russia's Dnepr, a space launch vehicle converted from a Soviet-era intercontinental ballistic missile."No problems have been detected so far, and both the satellite and its launch vehicle are rea
TechnologyAug. 22, 2013
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Seoul shares sink 0.98 pct on Fed minutes
South Korean stocks dropped 0.98 percent Thursday, extending the losing streak for a fifth consecutive session, as the U.S. Federal Reserve's minutes reaffirmed a gradual scaling-back of its bond-buying program, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) closed down 18.34 points to 1,849.12, the lowest since July 10. Trading volume was moderate at 418 million shares worth 4.19 trillion won (US$3.74 billion) with decline
Aug. 22, 2013
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Seoul shares down 0.8 pct in late-morning trade
South Korean stocks traded 0.8 percent lower late Thursday morning, dented by losses in foodmakers and brokerage houses, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 14.86 points to 1,852.60 as of 11:20 a.m.Major brokerage firm KDB Securities Co. dipped more than 2 percent, and CJ Cheiljedang, a food manufacturing giant, slumped 3.1 percent. In contrast, defensive shares gained, with state-run Korea Electric Power Corp. climbing 2 percent. The local currency was ch
Aug. 22, 2013
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Seoul shares open lower on Fed minutes
South Korean stocks began nearly 1 percent lower Thursday, as the U.S. Federal Reserve's latest minutes showed little change of mind about tightening its monetary policy, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 17.81 points, or 0.95 percent, to 1,849.65 in the first 15 minutes of trading. Most large-cap shares drove down the main index, with market behemoth Samsung Electronics falling 0.5 percent and the world's No. 1 shipyard Hyundai Heavy Industries losing 1
Aug. 22, 2013
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15 minutes to determine fate of Arirang 5 satellite
Nearly eight years have passed since South Korea began developing its latest multipurpose satellite, but the fate of the much anticipated project will be determined in just 15 minutes after liftoff, launch organizers said Thursday.The Arirang 5 satellite was set to be launched at 8:39 p.m. (11:39 p.m. KST) from Russia’s Yasny launch site, some 1,800 kilometers southeast of Moscow, using a Dnepr three-stage rocket converted from Russia‘s conventional intercontinental ballistic missile.In 9.2 seco
TechnologyAug. 22, 2013
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Nuke reactor in Yeonggwang halted
The Hanbit Nuclear Reactor 6, located in Yeonggwang, South Jeolla Province, suddenly halted operations on Wednesday afternoon due to mechanical failure, adding to the concerns on electricity shortage.“The reactor suddenly went out of order and had to be suspended at 2:44 p.m.,” said an official of the Korea Hydro & Nuclear Power Corporation.As a result, the nation’s backup power level dropped from the 4.5 million kilowatt level to 3.7 million kilowatts as of 3 p.m., which triggered the phase 3 a
Aug. 21, 2013
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Parties lock horns on housing fix
Political parties are locked in fierce debate to reach an agreement on an additional set of measures to boost housing transactions but also cool apartment deposit prices, or “jeonse,” following the government’s housing stimulus policy announced in April.While the ruling Saenuri Party argues for the abolishment of heavy capital gains tax for multiple home owners, the main opposition Democratic Party favors a housing bill that includes regulatory caps on jeonse and monthly rent prices.As the two p
Aug. 21, 2013
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Seoul raises guard against financial woes in Asian neighbors
Korea’s financial authorities are considering drawing up contingency plans to cope with the negative impact of a possible financial crisis in emerging Asian countries, industry sources said on Wednesday. The move by the financial policymakers comes after news that India, Indonesia and Thailand have recently undergone a drop in their currency value and equity prices, which were reportedly affected by the U.S. exit strategy to retrieve its investment in emerging countries.The policymakers also app
Aug. 21, 2013
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Park stresses talks before new laws
Doosan Group chairman Park Yong-maan, who took office on Wednesday as head of the Korea Chamber of Commerce and Industry, stressed more talks among stake-holder groups were needed before the government imposes any new regulations on business imposed. He said companies had provided a pretext for many of the pending “economic democratization” measures that, among other things, aimed to toughen monitoring of business activities. But he stressed that more rules did not entail the best solutions. “I
IndustryAug. 21, 2013
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Nation on alert against blackout in September
The worst of the summer heat may be over, but the nation is still on guard for a potential blackout next month as several thermoelectric and nuclear power plants face temporary shutdowns for repairs and maintenance. Regional power suppliers are currently planning to halt the operation of some 14 or more steam power plants consecutively for maintenance reasons, according to the Ministry of Trade, Industry and Energy.Two nuclear power plants will also follow suit, in which case seven out of 23 nuc
Aug. 21, 2013
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Allianz Life Korea sanctioned for irregular accounting: FSS
The Financial Supervisory Service said Wednesday that it has reprimanded Allianz Life Insurance Korea for engaging in accounting irregularities.The local unit of Munich-based Allianz Group was found to have breached the regulatory rules that mandate insurers to draw up their financial statements under guidelines set by the FSS governor or the Financial Services Commission chairman.According to FSS officials, the company reported artificially low reserves for its insurance payments, instead inves
Aug. 21, 2013
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Banks compete to expand opening hours in saturated market
Commercial banks and brokerage firms are extending operation hours in branches frequented by nine-to-fivers to get ahead in the race for market share.The business hours of banks here have been almost identical, opening at 9 a.m. and closing at 4 p.m., with the exception of Standard Chartered Bank Korea Ltd. and some branches of NongHyup Bank. Some branches in industrial complex areas, such as Gasan-dong and Wongok-dong in Seoul, had been extending business hours to provide more wiring and foreig
Aug. 21, 2013
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LG Display develops Quad HD LCD panel
LG Display Co., a South Korean panel maker, said Wednesday that it has developed a new HD LCD panel for smartphones that offers four times clearer images than existing HD LCD displays.The 5.5-inch Quad HD panel improves contrast and vividness compared to current mobile displays, and enables users to enjoy a full view of PC-version web pages at a single glance without image distortion. This is in contrast to current Full HD displays, which only realize three quarters of a full screen.Also, even w
TechnologyAug. 21, 2013
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LG Chem to supply Japan’s Softbank Mobile
LG Chem Ltd., the world’s largest lithium-ion battery maker, said Wednesday that it has signed a deal with Japan’s second-largest mobile carrier to provide batteries starting this month.LG Chem said the batteries will be used as uninterrupted power supply, or UPS, in 130,000 base stations of Softbank Mobile Corp. The UPS is an electrical apparatus that provides emergency power to base stations when the input power fails.The total electricity of the batteries to be provided to the Japanese mobile
TechnologyAug. 21, 2013
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Samsung, LG, Apple to compete in smart watches
Samsung Electronics, Apple Inc. and LG Electronics, the world‘s top three electronics firms, are rumored to be taking their competition to the next level this fall in the emerging smart-watch market.Each company is ready to release a smart watch ― Samsung with Galaxy Gear, Apple with iWatch and LG with GWatch ― most likely by the end of this year.Samsung is to release Galaxy Gear at the upcoming IFA trade show during its “Unpacked Episode 2” event, along with LG, which is packing more ammunition
IndustryAug. 21, 2013
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New KCCI chief calls for flexible fix for 'economic democratization'
The new head of the Korea Chamber of Commerce and Industry, the country's biggest business lobby group, said Wednesday that problems of wealth divide and fair competition should be solved by more flexible measures than regulations.Park Yong-maan, the chairman of Doosan Group, who took office formally as the KCCI head earlier in the day, told reporters that it is possible to solve the issue for "economic democratization" with in-depth discussions between businessmen and the government without reg
IndustryAug. 21, 2013
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Haptix brings devices closer to users
In an aim to change everyday life, three young entrepreneurs jumped into a start-up and recently launched their first product that could possibly do just that.The 3-D multi-touch controller called “Haptix” works similarly to technology in the movie “Minority Report,” in which detectives drag their fingers on a screen, zooming in and out. Haptix turns any flat surface into a control pad, which users can then use to control their computers, TV or any other device.“A change in how we interact with
IndustryAug. 21, 2013