Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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First-ever meeting of president, opposition chief set to finally happen
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Doctor gets suspended term for administering propofol to Yoo Ah-in
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Budget carriers flocking to Korea
Singapore Airlines’ Scoot has joined the heated competition among budget carriers in Korea, announcing Tuesday that it would start the first low-cost services connecting Incheon and Singapore from June 12. Even though the company didn’t disclose its detailed pricing policy, the round-trip fares to Singapore were expected to be as much as 40 percent cheaper than other full-service carriers. “Our exceptional value airfares offer the people of Korea even more reasons to visit Taiwan, Singapore or a
IndustryApril 19, 2013
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Seoul shares edge up on metal, financial gains
South Korean stocks closed 0.35 percent higher Friday, as gains from non-ferrous metals and financial firms overshadowed concerns over worsening quarterly earnings, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 6.69 points to finish at 1,906.75. Trading volume was moderate at 324.8 million shares worth 4.37 trillion won ($3.91 billion), but decliners outnumbered gainers 422 to 379. "Those that have dipped in the past
April 19, 2013
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FTC chief nominee wins parliamentary nod
President Park Geun-hye's nominee for chief of the nation's antitrust watchdog won parliamentary approval Friday following a confirmation hearing that tested his suitability for the job.Noh Dae-lae, a former senior finance ministry official and former head of the state arms procurement agency, was tapped by the president last month to lead the Fair Trade Commission after Park's first nominee resigned over allegations that he kept secret overseas bank accounts in order to evade taxes.In Thursday'
IndustryApril 19, 2013
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Fiscal balance to be delayed due to extra budget: report
The extra budget that the government recently drew up will likely delay achieving a fiscal balance until 2016 due to increased spending coupled with less-than-expected tax revenues, a government report showed Friday.The government earlier unveiled a 17.3 trillion won ($15.4 billion) extra budget aimed at boosting the country's slowing economic growth. This was the second largest since 2009 when it announced 28.4 trillion won in extra spending in response to the fallout from the global financial
April 19, 2013
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Samsung Electronics ranks 20th on Forbes' Global 2000 list
Samsung Electronics Co., the world's top maker of smartphones, memory chips and flat-panel TVs, joined the elite 25 companies on the annual Global 2000 list of biggest publicly traded companies released by Forbes, ranking 20th this year, up six notches from last year.Hyundai Motor Co., South Korea's leading automaker, ranked 89th, also up from last year's 96th spot, according to the list on the Forbes' Web site on Friday.A total of 65 South Korean firms, including POSCO (184th), Shinhan Financia
IndustryApril 19, 2013
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Seoul shares open lower on large-cap losses
South Korean stocks got off to a weak start Friday, dented by blue-chip losses amid lackluster corporate earnings here and abroad, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.75 points, or 0.3 percent to 1,894.31 in the first 15 minutes of trading. Market bellwether Samsung Electronics slid 1.6 percent, with second-largest listed firm Hyundai Motor retreating more than 2 percent. Major banking groups also trended lower, with No. 3 Hana Financial dropping 1.3 per
April 19, 2013
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Mobile sign-up fees to be abolished by 2015
The three mobile carriers ― SK Telecom, KT and LG Uplus ― will be banned from charging new customers phone sign-up fees after 2015 under the new government’s drive to slash the financial burden on ordinary households.In its policy briefing to President Park Geun-hye on Thursday, the Ministry of Science, ICT & Future Planning said it would ban the start-up fees in the mobile industry on a step-by-step basis.The ministry plans to instruct the three companies to initially cut 40 percent of the curr
IndustryApril 18, 2013
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[Graphic News] 1 in 5 Korean men to die of illnesses linked to smoking
One out of 5 Korean men is projected to die of an illness linked to smoking, according to research by the state-run Korea Institute for Health and Social Affairs. The institute unveiled the study Thursday as the Ministry of Health and Welfare pushes to raise prices of cigarettes to help smokers kick the habit. The research claimed that 79,917, or 21.6 percent, of about 370,000 high school seniors in 2010 were likely to die of smoking-related illness by age 85.It added that 26.9 percent of adults
TechnologyApril 18, 2013
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Fixing graveyard-shift sleep disorders
We find it hard to fall asleep when we travel to the United States or Europe, waking up often during the night. This leads to fatigue during the day, drowsiness, decreased appetite and concentration. Such symptoms are referred to as “jet lag,” and are caused by the biological clock in the hypothalamus of the brain. The biological clock set in Korea does not quickly adjust to the time zone in another country. It usually takes one day to adjust for one hour of time difference. For example, in orde
TechnologyApril 18, 2013
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Beer taste alone triggers reward chemical in brain
PARIS (AFP) ― The taste of beer, even without any effect from alcohol, triggers a key reward chemical in the brain, according to a study on Monday that explores how people become hooked on booze.Neurologists at the University of Indiana asked 49 men to drink either their favorite beer or Gatorade, a non-alcoholic sports drink, while their brains were scanned by positron emission tomography.The goal was to look at dopamine, a chemical in a part of the brain called the ventral striatum that gives
TechnologyApril 18, 2013
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Korea needs to be proactive, open more for FDI: foreign chambers
Korea needs to implement more proactive policies and further open its market to boost foreign direct investment, foreign chambers said at an economic forum hosted by Herald Corp. in Seoul on Thursday.“Korea is a very unique country with an advanced economy and relatively high growth rate. There are various attributes that make Korea an attractive place to make investments,” said Henry An, cochairman of the American Chamber of Commerce’s taxation committee.But he added that the country should try
April 18, 2013
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FSC reveals 5-year financial road map
The country’s top financial regulator unveiled the direction for financial policies for the next five years during an economic policy forum held in central Seoul on Thursday.The revival of failed-but-restarting enterprises, pro-customer financial inclusion and a sound financial system are the new administration’s three major polivy priorities, said Ko Seung-bum, head of the financial policy department at the Financial Services Commission.In his presentation at the forum “Hear from the New Govern
April 18, 2013
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Official expects 2.7-percent growth on stimulus measures
The Ministry of Strategy and Finance said that the Korean economy would be able to achieve a trend of 4 percent growth should it swiftly put its stimulus package and fiscal policy into action.It said Korea’s gross domestic product could grow around 2.7 percent for 2013 with an extra budget of nearly 20 trillion won, including 2 trillion won in public funds.“The government’s recent economic measures signify its commitment to overcome the low-growth trap in which Korea has been growing below 1 per
April 18, 2013
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Korea vows no discrimination against foreign firms
Foreign businesses will receive equal opportunity and treatment under the government’s business policies, foreign business leaders heard from government officials on Thursday.Government officials reassured that there would not be any “negative spillovers” to either the foreign business community or the general corporate sector from the incumbent administration’s plans to expose the underground economy, while pursuing fiscal balance and soundness. “We still believe foreign investment is a part of
April 18, 2013
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Korean unit to lead Renault’s design projects in Asia
Renault Samsung Motors said Thursday that the carmaker had revamped its existing design center to become “Renault Design Asia,” leading the Renault-Nissan Alliance’s car design projects on the continent. The Korean unit of France-based Renault Group will play a leading role in developing the next generations of its flagship mid-size sedan SM5 and the QM5 sport utility vehicle, the company said.The new announcement came after Carlos Tavares, chief operating officer of Renault, hinted in January t
IndustryApril 18, 2013
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Securities regulators to get more probe powers
Korea’s securities regulators will be entitled to investigate alleged stock manipulation cases with “special criminal authority” under the Park Geun-hye administration’s commitment to weeding out unfair trading.The government unveiled policies Thursday to grant criminal authority to Finance Services Commission investigators monitoring the brokerage industry and some nongovernmental inspectors at the Financial Supervisory Service.“The authority allows the securities inspectors to immediately hand
April 18, 2013
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Hyun pledges cooperation with World Bank to help poor countries
South Korea’s finance minister has promised to step up cooperation with the World Bank in helping improve the lender’s aid-delivery system and sharing its development experience with other poor countries, his office said Thursday.Finance Minister Hyun Oh-seok is visiting Washington to attend a meeting of the group of 20 advanced and emerging countries. The promise was made during his meeting with World Bank president Jim Yong Kim on Wednesday (local time), according to the Finance Ministry.The W
April 18, 2013
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ESCAP sees lower Asia-Pacific growth as ‘new normal’
The U.N. Economic and Social Commission for Asia and the Pacific said Thursday that Asia-Pacific economies would see “subdued” growth this year after last year’s sharp slowdown.In its annual report, the regional arm of the United Nations said it expected South Korea to grow 2.3 percent in 2013.South Korea’s Finance Ministry earlier projected the same growth rate for this year.“An important finding is that the relatively subdued growth compared to the pre-global financial crisis period could beco
April 18, 2013
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LG CEOs visit suppliers to seek ways for shared growth
Some 30 chief executives of LG Group visited two suppliers of LG Electronics on Thursday to seek ways to strengthen the group’s competitiveness through shared growth with smaller firms. They included LG Group chairman Koo Bon-moo, LG Electronics vice chairman Koo Bon-joon, LG Chem vice chairman Kim Bahn-suk, LG Uplus CEO Lee Sang-chul and LG Display CEO Han Sang-beom, officials said. Their first destination was Mirae Korea, a TV frame maker located in Cheonan, 92 kilometers south of Seoul. Throu
IndustryApril 18, 2013
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Cosmetics firms’ sales soar last year
South Korean cosmetics companies saw their sales rise at an alarming clip last year helped by women’s increased spending on cosmetics despite the protracted economic downturn, industry data and sources said Thursday. “Local cosmetics companies enjoyed a boom in their sales last year despite a prolonged economic slump as women increased spending on cosmetics,” an industry source said. “The companies’ sales are expected to grow between 10 percent and 20 percent this year.” LG Household & Health Ca
April 18, 2013