Most Popular
-
1
Contentious grain bill put directly to plenary meeting for vote
-
2
Yoon's approval rating plunges to all-time low
-
3
Will tug-of-war between doctors, government end soon?
-
4
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
5
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
6
[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
-
7
North Korea removes streetlights along cross-border roads with South
-
8
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
9
S. Korea votes in favor of Palestinian bid for UN membership
-
10
Farming households dip below 1m for first time in 2023
-
Gov't intervention in currency market would do more harm than good: minister
South Korea's finance minister said Saturday that it would "do more harm than good" for the government to intervene in the foreign currency market. Hyun Oh-seok, who concurrently serves as deputy prime minister in charge of the economy, made the remarks during a parliamentary committee meeting. "I think that it would do more harm than good for the government directly to intervene in (the movement of) foreign exchange rates in terms of market stability and trust," he said. His remarks were in
April 28, 2013
-
Woori Investment reprimanded for W1.3 billion embezzlement
The Financial Supervisory Service ordered Woori Investment & Securities to dismiss two stockbrokers, including a branch manager, engaged in embezzlement, regulatory officials said Sunday. The regulator said it has uncovered incidences of embezzlement of 1.39 billion won ($1.24 million) committed at two branches in Seoul and Busan of Woori Investment. The manager of Woori Investment’s Suyeong branch in Busan pocketed 665 million won from five customers’ accounts two years ago, FSS officials said
April 27, 2013
-
Galaxy S4 good, but not incredible: U.S. media
The highly-anticipated global release of Samsung Electronics’ Galaxy S4 was welcomed with a lukewarm -- “good but not incredible” -- response from a number of major U.S. news outlets.The latest model of South Korean tech giant’s flagship Galaxy series is to hit the global markets on Saturday, a day after it was released in South Korea.Armed with a five-inch screen and powerful hardware that allows users to cruise through apps and videos, the smartphone is expected to present a serious challenge
TechnologyApril 26, 2013
-
Clenching can boost memory: study
Clenching one’s fist can boost memory, U.S. researchers claimed in a recent study.Ruth Propper, an associated professor of psychology at Montclair State University, said that clenching fists while memorizing could improve recall later.Propper and her colleagues conducted research in which they divided 50 right-handed participants into five groups and asked them to remember as many words as they could after scanning a list of 72 words. The first group clenched their right hand while memorizing an
TechnologyApril 26, 2013
-
[Photo News] Lotte chief on trial
IndustryApril 26, 2013
-
Samsung Heavy’s net profit jumps 19%
Samsung Heavy Industries Co., a major South Korean shipbuilder, said Friday that its first-quarter net profit soared 19 percent from a year earlier on the back of increased demand for high-priced ships.Net profit reached 301 billion won ($272 million) in the January-March period, compared with a profit of 253 billion won a year earlier, the company said in a regulatory filing.Sales gained 10 percent on-year to reach 3.89 trillion won in the first quarter, and operating income also spiked 34 perc
IndustryApril 26, 2013
-
Ssangyong Motor’s net loss narrows on strong sales
Ssangyong Motor Co., the local unit of Indian sport utility vehicle maker Mahindra & Mahindra Ltd., said Friday its first-quarter net loss sharply narrowed from a year earlier on strong sales in the domestic market.Ssangyong’s net loss narrowed to 9.7 billion won ($ 8.7 million) in the January-March period, from 31.5 billion won a year earlier, the Seoul-based company said in a regulatory filing.The carmaker said operating loss also narrowed to 17.3 billion won, from 30 billion won a year earlie
IndustryApril 26, 2013
-
SK Innovation’s profit falls on weaker won
SK Innovation Co., the holding company of South Korea’s No.1 refiner SK Energy Co., said Friday that its first-quarter net income fell 54.8 percent from a year ago due to non-operating loss by a weaker won.Net profit came to 293 billion won ($264.2 million) in the January-March period, compared with 648.4 billion won a year ago, SK Innovation said in a regulatory filing.Sales fell 3.9 percent to 18.1 trillion won in the period, with operating profit dropping 5.5 percent to 738 billion won.“The d
IndustryApril 26, 2013
-
Kia Motors’ net profit tumbles
Kia Motors Corp., South Korea’s second-largest automaker, said Friday its first-quarter net profit fell 34.7 percent from a year earlier due to decreased profits from its equity investments.Kia’s consolidated net profit fell to 783.9 billion won ($706 million) in the January-March period, from 1.2 trillion won a year earlier, the Seoul-based company said in a regulatory filing.The carmaker said operating profit dropped 35.1 percent to 704.2 billion won, as revenue fell 6 percent to 11.08 trillio
IndustryApril 26, 2013
-
Samsung rules in smartphones
It was no surprise to see Samsung Electronics, the world’s biggest maker of memory chips and smartphones, post a more than 40 percent increase in its first quarter net profit on the back of brisk shipments of its flagship Galaxy lineup. Net profit reached 7.15 trillion won ($6.44 billion), up from the 5.05 trillion won in the previous quarter a year earlier, the company said on Friday. On the same day, Samsung Electronics Vice Chairman Lee Jay-yong and his fellow executives met with Google CEO L
TechnologyApril 26, 2013
-
Seoul shares edge down on weak momentum
South Korean stocks closed 0.36 percent lower Friday as investors sat on the sidelines due to the weak growth momentum in the market, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 7.04 points to finish at 1,944.56. Trading volume was low at 274.5 million shares worth 4 trillion won ($3.6 billion) with gainers outnumbering decliners 428 to 365.“Investors took a wait-and-see approach due to the lack of upward momentum in the sto
April 26, 2013
-
KB, Hana post weak Q1 earnings
KB Financial Group reported weak quarterly earnings beset by weak lending amid the economic slowdown.The financial holdings giant posted a net profit of about 413 billion won in the first quarter of this year, down more than 32 percent from 608.4 billion won a year earlier, the company disclosed Friday.It performed below the market consensus of a 30 percent decrease in profit at around 420 billion won.Its sales reached 6.2 trillion won, down about 10 percent from 6.9 trillion won in the same per
April 26, 2013
-
LGE rises to world’s No. 3 in smartphones
LG Electronics became the world’s third largest smartphone vendor for the first time since it began to sell the devices back in 2009, the Seoul-based company said on Friday, citing research data from Strategy Analytics.LG shipped a total of 10.3 million smartphones in the first quarter, which was more than double the 4.9 million units it recorded a year earlier, with its market share standing at 4.9 percent, the data showed.“LG was a star performer as its global shipments doubled year-over-year
TechnologyApril 26, 2013
-
Business circles condemn ‘anti-corporate’ bills
The nation’s five major business bodies loudly voiced their disapproval on Friday of bills for extending the retirement age and other pro-welfare initiatives stemming from President Park Geun-hye’s economic democratization policies. “We express our collective concern over the anti-corporate sentiment that is evident in recent bills proposed by lawmakers,” said Kim Young-vae, vice president of the Korea Employers Federation at an emergency press conference at Plaza Hotel.The KEF was joined by the
April 26, 2013
-
Sexually explicit material affects behavior, but not by much
Viewing sexually explicit material via the Internet, videos and magazines may affect teen and adult sex behavior but less than thought, Danish researchers say.Gert Martin Hald of the University of Copenhagen in Denmark and colleagues conducted an online survey of 4,600 people ages 15-25, who lived in The Netherlands.The survey revealed 88 percent of males and 45 percent of females said they watched sexually explicit material via the Internet, magazines, videos, television or other media in the p
TechnologyApril 26, 2013
-
Seoul shares open lower on Q1 earnings woes
South Korean stocks opened lower Friday, as investors' sentiment was dented by the rising concerns over the listed firms' first-quarter earnings, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.61 points, or 0.18 percent, to 1,947.99 in the first 15 minutes of trading.Carmakers traded bearish, with No. 1 industry player Hyundai Motor falling 0.77 percent and its smaller affiliate Kia Motors losing 0.76 percent. Top auto parts maker Hyundai Mobis shed 1.12 percent.Tec
April 26, 2013
-
Samsung Q1 net jump 42 pct on Galaxy boom, higher chip prices
Samsung Electronics Co., the world's top maker of computer memory chips and smartphones, said Friday its first-quarter profit spiked 42 percent from a year earlier, buoyed by robust shipments of its flagship Galaxy S3 handsets.Net profit came to 7.15 trillion won ($6.44 billion) in the January-March period, compared with 5.05 trillion won a year earlier, the company said in a regulatory filing.Revenue soared 16.8 percent on-year to 52.87 trillion won in the first quarter and operating profit cli
IndustryApril 26, 2013
-
Creditors agree to provide STX Offshore with 600 bil. in emergency loans
Creditors of STX Offshore & Shipbuilding agreed Thursday to provide the ailing South Korean shipbuilder with 600 billion won (US$540 million) in emergency loans, the main creditor bank said. STX Offshore, the shipbuilding unit of STX Group, a South Korean shipping and shipbuilding conglomerate, has been suffering a credit crunch as demand for new ships has fallen sharply in the past few years. A senior official at Korea Development Bank (KDB), the main creditor, said that seven creditor bank
IndustryApril 25, 2013
-
Korea urged to play bigger role in fighting AIDS, TB, malaria
A global financing institution to fight HIV/AIDS, tuberculosis and malaria requested Korea to play a bigger role in international efforts to defeat the diseases that threaten hundreds of millions of lives, especially in poor countries.“This is a historic opportunity to defeat the three diseases. I am appealing to Korea to consider what Korea wants to contribute to this global effort,” Christoph Benn, external relations director of the Global Fund to Fight AIDS, Tuberculosis and Malaria, said in
TechnologyApril 25, 2013
-
Authorities at odds over growth
The Bank of Korea and the Ministry of Strategy and Finance seem to be at odds over the country’s growth prospects, raising the possibility of another round of debate over the key base rate.The central bank announced Thursday better-than-expected gross domestic product growth of 0.9 percent in the first quarter owing to improved exports and revived facility investment. But the government still says it is time for monetary policy to kick in and work alongside fiscal policy so the economy can break
April 25, 2013