Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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[Weekender] How DDP emerged as an icon of Seoul
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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[Music in drama] An ode to childhood trauma
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Korea to cut 55tr won in regional project spending
The government is expected to make a sweeping overhaul of regional spending and subsidies as it seeks to balance the budget through expenditure cuts.It is looking to cut annual spending worth about 55 trillion won ($49 billion) for nearly 1,000 regional projects, including infrastructure development.Economic-related ministries, including the Ministry of Strategy and Finance and the Ministry of Land, Infrastructure and Transport, reportedly proposed cuts in infrastructure spending of about 10-12
May 19, 2013
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S. Korea's corporate debt to near $2 tln in 2017: S&P
South Korea's corporate debt is expected to approach US$2 trillion in 2017, a level similar to 2009 when the country just pulled out of a foreign exchange crisis, global ratings agency Standard & Poor's (S&P) said Sunday.According to an S&P report, the amount of debt owed by the country's nonfinancial companies is estimated to reach $1.98 trillion in 2017, up from $1.36 trillion at the end of September.The ratio of South Korea's corporate debt to its nominal gross domestic product (GDP) will lik
IndustryMay 19, 2013
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S. Korea’s growth feared to fall behind Japan's this year
Japan’s economic growth rate is expected to surpass that of Korea for the first time in 15 years as the world’s third-largest economy gains momentum on the yen’s rapid depreciation.South Korea is estimated to grow at an annual rate of 2.6 percent this year from a year earlier, while Japan is forecast to advance 2.9 percent, according to the data by the Bank of Korea and the Bank of Japan. If the estimates come true, South Korea's economic growth rate would fall behind that of Tokyo for the first
May 19, 2013
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Hyundai Motor joins U.S. development of fuel-cell vehicle
Korea's top automaker Hyundai Motor Co. has been named a partner in a U.S. project to develop next-generation fuel-cell electric vehicles, the company said Saturday. Hyundai Motor is one of only four foreign automakers that has been named a partner for the so-called H₂USA project, it said. The others are Germany's Mercedes-Benz and Japan's Toyota Motor Corp. and Nissan Motor Co. The U.S. project seeks to develop new, efficient fuel-cell batteries, along with the necessary infrastructure to h
IndustryMay 18, 2013
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Park voices strong objections against unfair practices
President Park Geun-hye voiced strong objections Thursday against the widely-denounced practice of big businesses coercing small franchise distributors to accept products in excess of their capacities, saying such a practice should never happen under her government.Park made the remark during a dinner meeting with small business owners as the already-high public outrage over the practice rose further following Tuesday's suicide of a distribution shop owner for a local liquor maker after he suffe
May 16, 2013
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NHN liquidates assets in Cayman Islands
NHN, Korea’s largest search engine operator, has completed its liquidation of its overseas assets based in the tax haven of Cayman Islands, according to a public disclosure filing.The portal giant’s NHN Global, established in 2004 on the islands, is said to have shut down after converting its assets worth some 19 billion won into cash up until early this year. As of last Wednesday, NHN Global is now off the books.The operator of Naver set up its Cayman Islands-based entity after investing in a j
May 16, 2013
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Couples who sleep in separate rooms
In modern society, it is common to see couples who are legally married, but who are not close to each other at heart and have been sleeping in separate rooms for many years. This can lead to decreased enjoyment in life, as well as other physical symptoms such as heart palpitations, a feeling of tightness in the chest, frequent headaches and indigestion. If the relationship within a couple is not good, prolonged depression and sadness, as well as decreased energy and enthusiasm in life can occur.
TechnologyMay 16, 2013
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Planning a weekend trip? Be aware of food poisoning
A rise in temperature and sunny weather are forecast for this weekend, raising expectations for one last spring trip out of the city. Health authorities, however, warned Thursday of the growing risk of harmful bacteria, particularly for those who plan to go to the seaside. The Korea Centers for Disease Control said vibrio vulnificus, a type of bacteria that causes necrotizing fasciitis, or flesh-eating bacteria syndrome, was detected in sea water collected from the country’s southern sea.Vibrio
TechnologyMay 16, 2013
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[Photo News] Offroad experience
MobilityMay 16, 2013
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Hanwha General sanctioned for hiding info leak
The Financial Supervisory Service said Thursday that it issued a caution against Hanwha General Insurance for allegedly seeking to conceal the leakage of customers’ information in the aftermath of hacker attacks.Though the nonlife insurance unit of Hanwha Group saw personal information totaling about 157,000 cases leaked due to an hacking incident between March and May 2011, it hid the fact at least for one year until September 2012, said FSS officials.Further, it has been found that Hanwha Gene
May 16, 2013
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STX Group chief under pressure to relinquish assets
Financial authorities and creditors of the debt-saddled STX Group are considering seizing the assets of the conglomerate’s chairman Kang Duk-soo.Creditors agreed to offer STX Corp., the group’s holding firm, bailout funds totaling 300 billion won ($270 million) last Tuesday. A regulatory official said the STX Group chief should give up his assets if he wanted to see the group attain management normalization. “His properties including his house could be placed under attachment,” the official said
May 16, 2013
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KNOC to join Vietnam oil storage project
The state-run Korea National Oil Corp. will join Vietnam’s underground oil storage facility construction project, company officials said. “KNOC has decided to join the project to build an underground facility to store up to 3.8 million barrels of oil in Dung Quat, Vietnam, in cooperation with Vietnam-based PVOS,” the officials said, adding that the project would be KNOC’s first oil storage project overseas. Petro Vietnam Oil Stockpile embarked on the project to accommodate the needs of the oil a
May 16, 2013
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Asiana Airlines protects heritage sites in Vietnam
Asiana Airlines, in partnership with UNESCO Korea, will install solar-powered street lamps for the protection of heritage sites in Vietnam as part of its ongoing social contribution activities in the country, officials said Thursday. The air carrier held the groundbreaking ceremony for the installation of the 40 environment-friendly street lamps near two world heritage sites ― the ancient town of Hoi An and the My Son holy land ― in Da Nang, a Vietnamese port city. Some 400 participants attended
IndustryMay 16, 2013
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Halla Group out to recapture market’s trust
Halla Group this week said it would give no further support for its faltering construction arm, to enhance the credibility and value of the company.“We understand the investors’ concerns surrounding the paid-in capital increase for Halla Engineering and Construction last month, and will now on work together to gain the market’s trust and recover governance,” said group chairman Chung Mong-won to executives and board members of Mando, a central affiliate of Halla that manufactures car parts. On
IndustryMay 16, 2013
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FSS to launch consumer-initiated probe system
The Financial Supersory service will implement consumer-initiated inquiries in the coming weeks, officials said Thursday.Over the past two months under initiative of Governor Choi Soo-hyun, the FSS has mapped out details of the system, under which consumers are entitled to request the regulator to conduct probes into financial firms.“We will soon unveil measures to effectively introduce the system,” an official said. “Its implementation date will also be publicized as soon as a deliberative boar
May 16, 2013
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Markets subdued despite upbeat Japanese growth
Financial markets were subdued Thursday despite encouraging growth figures out of Japan, as investors paused for breath a day after the main U.S. stock indexes struck record highs.Stocks have been buoyant for most of this year amid hopes over the U.S. economy, an easing of concerns over Europe's debt crisis and an expectation that central banks will continue with their super-easy monetary policies for a while longer.``This rally is not dead, it's just resting,'' said Alastair McCaig, market anal
May 16, 2013
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Park aims for fiscal balance within her term
President Park Geun-hye called for the government to achieve a fiscal balance within her five-year term, stressing the need to promote efficient yet sound fiscal spending and management.Presiding over her first meeting with ministers on the nation’s fiscal management, Park said the government needs to make fiscal reforms by first redesigning its spending so that the government can bring the national debt ratio under the mid-30 percent level of the gross domestic product. The nation’s debt-to-GDP
May 16, 2013
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Foreigners purchase net 6.2 tln won worth of S. Korean bonds
Foreigners have continued to expand investment in the South Korean bond market this year despite heightened geopolitical risks from North Korea's nuclear programs, the finance ministry said Thursday.Foreigners have made a net investment of 6.2 trillion won ($5.6 billion) in the bond market here so far this year, bringing their total bond holdings to 97.4 trillion won as of end-April, according to a report by the ministry.Foreign investment made up 7.2 percent of the total outstanding Korean bond
May 16, 2013
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Cancer is No.1 cause of death in S. Korea
Cancer is the No. 1 cause of death among South Koreans, the Korean Medical Association's institute said Thursday, citing data by the Organization for Economic Cooperation and Development (OECD).The Research Institute for Healthcare Policy said in a report that for every 100,000 South Koreans, 193.7 died from cancer in 2010. This is less than the 211.6 cancer deaths on average among the 34 member states of the OECD.South Korea ranked as the fifth-lowest country in terms of the cancer mortality ra
TechnologyMay 16, 2013
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Seoul shares gain 0.79 pct on eased yen fear
South Korean stocks closed 0.79 percent higher Thursday, as a stabilizing yen offset concerns over the negative impact the currency may bring to the local economy, analysts said. The Korean won inched down against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 15.55 points to finish at 1,986.81. Trading volume was moderate at 309.5 million shares worth 4.43 trillion won (US$3.96 billion) with gainers outstripping losers 445 to 369. "The yen has been stabilizing a
May 16, 2013