Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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S. Korea votes in favor of Palestinian bid for UN membership
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Farming households dip below 1m for first time in 2023
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4 STX units apply for creditors’ management
STX Group has applied for joint management of its four financially distressed subsidiaries by creditor banks, the state-run Korea Development Bank said Friday.The main creditor KDB also said STX Group is considering selling two units of STX Europe ― STX France and STX Finland ― as part of efforts to improve the group’s overall financial soundness.The shipbuilding conglomerate’s application for creditors’ comanagement is seen as a desperate effort to overcome the financial crisis facing STX Heavy
May 3, 2013
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Korean Air Q1 net loss sharply widens due to foreign exchange loss
Korean Air Lines Co., South Korea's top air carrier, said Friday its net loss sharply widened in the first quarter of 2013 from a year earlier due to foreign exchange loss. Consolidated net loss reached 300.6 billion won ($285 million) in the January-March period, up from a 64.2 billion won loss a year earlier, the carrier said in a regulatory filing. The figures also represent a sharp decline from a profit of 140.1 billion won in the fourth quarter of last year. The carrier said its for
IndustryMay 3, 2013
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Seoul shares gain 0.44 pct on U.S. jobs data
South Korean stocks closed 0.44 percent higher Friday, as five-year low jobless data in the United States cheered investor sentiment over an improving economy, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 8.57 points to 1,965.78. Trading volume was light at 306.8 million shares worth 4.13 trillion won (US$3.75 billion) with gainers outnumbering decliners 499 to 299. "U.S. labor data give us a sense of where we ar
May 3, 2013
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Companies slow to tackle U.S. mobile phone thefts
U.S. authorities said mobile carriers and phone manufacturers should do more to resolve the rapidly growing smartphone thefts. In 2012, Washington D.C. alone witnessed a record 1,829 smartphone robberies and nearly half of all thefts in San Francisco involved mobile devices, according to the U.S. police. The underlying issue is that wireless carriers and smartphone producers are slow to tackle the problem.A national database tracking stolen devices and iPhone’s location-tracking function for mis
TechnologyMay 3, 2013
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[Photo News] Jessica Alba talks at Seoul Digital Forum
Jessica Alba, a Hollywood actress and CEO of an eco-friendly product label Honest Company, is having a talk with the topic “Widening Access to Healthy Living with ‘Honest’ Products and a Dream” at the Seoul Digital Forum.A mother of two girls, Alba created the company to distribute ethical, clean baby products. She was listed as one of Fortune’s 10 Most Powerful Entrepreneurs and Entrepreneur of the Year at the U.K. Glamour Women of the Year 2012 Awards.The Seoul Digital Forum is held from May
TechnologyMay 3, 2013
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FTC in final stage of deliberation on Google in antitrust case: sources
South Korea's corporate watchdog is expected to soon announce the results of its deliberation into an antitrust case against Google Inc. for its alleged involvement in activities that hurt fair market competition, industry sources said Friday.Some sources also speculate that the Fair Trade Commission (FTC) might be considering dropping the charges against the U.S. Internet search engine giant as it is in the final stage of its deliberation into the case.In 2011, NHN Corp. and Daum Communications
IndustryMay 3, 2013
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Samsung Galaxy S4 wins security approval from Pentagon
Samsung Electronics Co., the world's top maker of smartphones, said Friday it has received security approval for its new Galaxy S4 smartphone from the U.S. Department of Defense, making it the first Korean smart device to earn such approval.The winning of security approval indicates that Samsung is allowed to make a foray into the market for security-concerned U.S. defense agencies, which has been largely dominated by BlackBerry."The Galaxy S4 has won security approval from the U.S. Department o
IndustryMay 3, 2013
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Seoul shares down 0.04 pct in late-morning trade
South Korean stocks traded 0.04 percent lower late Friday morning after opening higher, dented by losses in blue-chip tech firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.8 points to 1,956.41 as of 11:20 a.m. Top-cap tech giant Samsung Electronics lost 0.13 percent, with chipmaker SK hynix falling 1.36 percent. In contrast, autos gained ground, with Hyundai Motor rising 1.8 percent and its smaller affiliate Kia Motors soaring 2.5 percent. The local currency w
May 3, 2013
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Seoul shares open higher on U.S. data, ECB rate cut
South Korean stocks got off to a strong start Friday, buoyed by upbeat economic data in the United States and the policy rate cut by the European Central Bank (ECB), analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 4.77 points, or 0.24 percent, to 1,961.98 in the first 15 minutes of trading. Telecom companies and metal manufacturers drove up shares, with No. 1 mobile carrier SK Telecom jumping 2.5 percent and zinc smelter Korea Zinc hiking nearly 5 percent. The U.S.
May 3, 2013
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Intel names Krzanich as chipmaker's next CEO
Intel's chief operating officer, Brian Krzanich, will become its next CEO in two weeks, tasked with steering the world's largest chipmaker through an industry shake-up that is seeing tablets and smartphones overshadow Intel's base in personal computers.Intel, one of the pillars of Silicon Valley, announced Thursday that Krzanich, who is 52, will replace Paul Otellini on May 16. Otellini, 62, announced his decision to resign six months ago and will end a nearly 40-year career with Intel, includin
TechnologyMay 3, 2013
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KT Q1 net profit down 47.6 pct
KT Corp., South Korea's top fixed-line and No. 2 mobile operator, said Friday its first-quarter net profit fell 47.6 percent from a year earlier due to increased marketing costs on long-term evolution (LTE) service and one-off costs.The company's consolidated net profit reached 212.6 billion won ($193 million) in the January-March period, down from 405.6 billion won a year earlier, the Seoul-based company said in a regulatory filing.KT attributed the weaker bottom line to an increase in marketin
IndustryMay 3, 2013
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ECB cuts benchmark interest rate to 0.5 percent
FRANKFURT, Germany (AP)- The European Central Bank has cut its benchmark interest rate to a new record low to stimulate the lagging economy in the 17 countries that use the euro. The bank's rate-setting council lowered the refinancing rate a quarter-point to 0.5 percent at a meeting in Bratislava, Slovakia. The move comes amid fears the eurozone economy may not recover later in the year from its recession. In theory, a cut helps companies by lowering borrowing costs for banks that have borrow
May 2, 2013
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[Graphic News] Incheon Airport best-paying public firm for new staff
Incheon International Airport Corp. has been revealed to pay the highest starting salary among public corporations.The average yearly salary for new employees at the 30 top public corporations last year was 39.18 million won ($27,825), up 10.2 percent from the previous year, according to local employment portal Saramin on Thursday.The data was based on Alio (All Public Information In One), a public management information system run by the Ministry of Strategy and Finance.IIAC was followed by Uls
May 2, 2013
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Korea eyes expansion of commercial space industry
The government will soon set up measures to help commercialize its space technology while also working to further develop its commercial space sector that will include the early development of a shuttle to the moon, the science ministry said Thursday.The move comes as there are only 61 private companies or research institutes developing space technologies in the country while 44.2 percent of them have annual sales of less than 1 billion won ($909,000), according to the Ministry of Science, ICT a
TechnologyMay 2, 2013
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Houses of former NIS agents, informant raided over scandal
Prosecutors on Thursday raided the houses of two former agents of the nation’s main intelligence agency and one informant as part of a widening investigation into allegations that the organization attempted to influence public opinion ahead of last year’s presidential election. The scandal centers around allegations that the National Intelligence Service extensively and systemically meddled in the presidential election by using its agents to post a slew of politically sensitive comments against
TechnologyMay 2, 2013
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U.S. appeals emergency contraception ruling
WASHINGTON (AFP) ― The U.S. Department of Justice appealed Wednesday a federal judge’s ruling ordering regulators to provide emergency contraception to women and girls of all ages.The appeal came just one day after the Food and Drug Administration allowed a manufacturer to make the Plan B One-Step morning-after pill available to those aged 15 and older without a prescription.The FDA says that decision is not related to the pending court case over emergency contraception.Until now, emergency cont
TechnologyMay 2, 2013
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Endoscopy under conscious sedation
Upper endoscopy is the most fundamental test to diagnose diseases of the esophagus, stomach and the duodenum (for example, gastric cancer, gastric ulcers, duodenal ulcers and esophagitis). Unlike radiological tests using contrast imaging of the upper gastrointestinal tract, endoscopy allows a direct biopsy of any abnormal tissues, producing a more accurate diagnosis as well as helping the treatment planning. Gastric cancer is very common in Korea and upper endoscopy is very important for early d
TechnologyMay 2, 2013
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Acupuncture more effective for pain than drugs: study
New research by Korean doctors of Oriental medicine suggested that a homegrown acupunctural method could reduce acute lower back pain faster and more effectively than conventional drug injections.In a joint study conducted by doctors of Jaseng Hospital of Korean Medicine and researchers of the Korea Institute for Oriental Medicine, pain was reduced significantly more among patients who received a nontraditional acupuncture treatment called motion style acupuncture (MSAT) compared with another gr
TechnologyMay 2, 2013
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Videogames slow, reverse ‘mental decay’: study
WASHINGTON (AFP) ― Playing videogames can prevent and even reverse deteriorating brain functions such as memory, reasoning and visual processing, according to a study released Wednesday.The University of Iowa study of hundreds of people age 50 and older found that those who played a videogame were able to improve a range of cognitive skills, and reverse up to seven years of age-related declines.“We know that we can stop this decline and actually restore cognitive processing speed to people,” sai
TechnologyMay 2, 2013
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Korea to launch SME productivity drive
The government and the business community agreed to promote a campaign to boost productivity of small and medium-sized suppliers for sustainable growth, officials said on Thursday.The agreement was reached at a meeting between Industry Minister Yoon Sang-jick and leaders of the nation’s five business associations.“The initiative, dubbed the ‘industry innovation movement 3.0’ and aimed at raising the capability of SME suppliers to seek innovation, will be launched in June,’’ Minister Yoon told th
May 2, 2013