Most Popular
-
1
[Exclusive] Korean military set to ban iPhones over 'security' concerns
-
2
Korean, Romanian leaders discuss defense tech, nuclear energy
-
3
S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
-
4
Yoon’s jailed mother-in-law excluded from latest parole list
-
5
Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
-
6
[Pressure points] Leggings in public: Fashion statement or social faux pas?
-
7
Korea’s homegrown nanosatellite successfully launches into space
-
8
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
9
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
10
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
Mobile show floods Barcelona with new smartphones
BARCELONA, Spain ― A fresh and diversified lineup of smartphones caught the eye of many at the world’s biggest mobile trade show.If it was a smartphone, it was there ― from high-tier premium models such as LG Electronics’ Optimus G Pro to Nokia’s Lumia 520, a budget smartphone that costs about $180. Ahead of the game was the 4.7-inch display HTC One, which was shown before a bigger audience than at its launch just ahead of the Mobile World Congress.Other to-be-watched smartphones included Huawei
TechnologyFeb. 27, 2013
-
Seoul shares up 0.2 pct on U.S. stimulus
South Korean stocks closed 0.2 percent higher on Wednesday on the back of the U.S. Federal Reserve's reassurance that it would maintain its stimulus measures, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 4.03 points to 2,004.04. Trading volume was moderate at 409.1 million shares worth 3.46 trillion won (US$3.18 billion) with gainers outpacing losers 460 to 344."Local shares traded almost flat due to the rising
Feb. 27, 2013
-
Hyundai says no agreement on U.S. fuel economy suit
Hyundai Motor Co., South Korea's top automaker, on Wednesday dismissed a media report that it has agreed to settle a class-action lawsuit by U.S. consumers who say they were misled by the carmaker's inflated fuel economy ratings.Hyundai said it has produced no specific progress in resolving the legal trouble stemming from its incorrect fuel economy rating for about 900,000 cars sold in the United States between 2010 and 2012."No agreement has been made," a Hyundai official said. He said it remai
IndustryFeb. 27, 2013
-
Seoul shares up 0.08 pct in late-morning trade
South Korean stocks traded 0.08 percent higher late Wednesday morning on the back of gains in techs and carmakers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) edged up 1.65 points to 2,001.66 as of 11:20 a.m.Big-cap tech firms led the increase, with market behemoth Samsung Electronics moving up 0.33 percent and its electronic components affiliate Samsung Electro-Mechanics advancing 0.11 percent.Carmakers also gathered ground, with No. 1 player Hyundai Motor increasing 0
Feb. 27, 2013
-
Lack of sleep leads to groggy genes: study
Lack of sleep has a potentially harmful effect on gene expression, according to a study out Tuesday that sheds light on the link between sleep deficits and a wide range of health conditions.A sleep deficit -- even just a week‘s worth -- can have damaging effects on our genes, researchers said in a new study out Tuesday.Lack of adequate shut-eye had already been linked to conditions from heart disease and cognitive impairment to obesity.But sleep researcher Derk-Jan Dijk and his fellow researcher
TechnologyFeb. 27, 2013
-
Korea maintains current account surplus for a year
Korea maintained a current account surplus for the 12th consecutive month thanks to increased exports, despite foreign exchange volatility due to currency wars ignited by Japan’s weak yen policy.The Bank of Korea said Wednesday that the current account, the broadest measure of the country’s foreign trade, recorded a surplus of $2.25 billion in January, with exports reaching $47.1 billion.This is mostly in part due to increased outbound shipments of telecommunication products, petrochemicals and
Feb. 27, 2013
-
French rights groups file suit on Samsung labour practices
A trio of French rights and consumer protection organizations said Tuesday they had filed a legal complaint against South Korea's Samsung Electronics over working conditions at its plants in China.The groups, Peuples Solidaires, Sherpa and Indecosa-CGT, accused Samsung of deceiving consumers by violating its own promises on ethical working conditions and using child labor.“While Samsung claims to respect the rights of the workers making its products by imposing codes of conduct including strict
IndustryFeb. 27, 2013
-
Seoul shares open higher on U.S. gains
South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) increased 5.21 points, or 0.26 percent, to 2,005.22 in the first 15 minutes of trading.Shares gathered ground across the board, with market behemoth Samsung Electronics adding 0.75 percent and top chipmaker SK hynix gaining 0.75 percent. No. 1 carmaker Hyundai Motor moved up 0.47 percent.U.S. stocks ended higher Tuesday on reports that the Fe
Feb. 27, 2013
-
Hyundai agrees to settle U.S. lawsuits over fuel efficiency
Hyundai Motor Co. agreed to settle a group of lawsuits by U.S. customers who said they were misled into buying the South Korean carmakers’ vehicles because it overstated their fuel economy. Lawyers for the plaintiffs said in a filing today in federal court in Los Angeles that Hyundai agreed in principle on terms of a settlement. The actual amount Hyundai would pay wasn’t disclosed. Kia Motors Corp. (000270), which was also sued for misstating its cars’ miles-per-gallon, is evaluating whether to
IndustryFeb. 27, 2013
-
Chaebol-banks rivalry reignited in credit card industry
Local chaebol and financial groups are engaging in another round of heated competition in the saturated credit card market.The excessive rivalry between the conglomerates and the banking groups over the money-spinning business stemmed from a credit card fiasco about 10 years ago.The 2003 woes from the reckless doling-out of credit cards led to a record-high number of credit defaulters and the downfall of then-No. 1 issuer LG Card.The latest competition looms large between the card units of Samsu
Feb. 26, 2013
-
[Graphic News] Travelers hit record high amid strong won
The number of tourists traveling overseas hit a January record, thanks to a strong won, travel portal Tourgo said Tuesday.The state-run online database engine revealed that the number of tourists headed abroad totaled slightly more than 1.4 million, a 21.8 percent increase from the previous month.In particular, about 50 percent more prospective travelers are visiting travel agencies, searching for tour packages to Japan, hoping for more economical deals thanks to the strength of the won against
Feb. 26, 2013
-
Hyundai to mass-produce hydrogen car
Hyundai Motor will mass produce hydrogen fuel cell cars from the end of this month up to 2015, the company said on Tuesday.The indigenously developed Tucson ix is the car of the hour, and up to 1,000 of these fuel cell-powered vehicles will soon become available to mark the world’s first mass production for this category of car, according to the Seoul-based company. “We hope to more quickly usher in a truly environmentally friendly era with our unprecedented mass production of fuel cell cars,”
IndustryFeb. 26, 2013
-
Exceptions mulled for restaurant restrictions
Companies with a restaurant business accounting for more than 80 percent of sales such as Outback Steakhouse Korea, Nolbu NBG and Theborn Korea are likely to be exempted from recently announced restrictions to keep sizeable firms from hurting small diners.Firms belonging to conglomerates with total assets of more than 5 trillion won ($4.6 billion) such as CJ Foodville, Lotteria and E-Land Park, however, will not be excused even if restaurants are their main business.The National Commission for C
IndustryFeb. 26, 2013
-
Korea’s birth, death rates increase
Korea’s birth rate increased for the third consecutive year in 2012, while its death rate reached a 30-year high.According to Statistics Korea, the number of newborns reached 484,300 last year, up 2.8 percent from a year earlier.This marks the highest since 2007 when Korea had 493,200 babies.Its crude birth rate increased by 0.2 to 9.6 births per 1,000 people.Also, Korea’s total fertility rate bounced back to 1.30 births per woman throughout her lifetime.The fertility rate began to dive in 2001
Feb. 26, 2013
-
KOMIPO signs contact for underground power plant
Korea Midland Power, or KOMIPO, said it signed a civil work contact for its underground power plant project in Seoul with a local construction consortium. With the contact worth 226 billion won ($208 million), the state-run power generation company will be able to push for the world’s first underground power plant project, to be completed in September 2016. The project will build two units for the 400-megawatt, LNG-fueled power plant and the two units will be responsible of the stable electricit
Feb. 26, 2013
-
Shares down on eurozone woes
South Korean stocks closed 0.47 percent lower on Tuesday due to rising uncertainties over the eurozone following Italy’s election, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved down 9.51 points to 2,000.01. Trading volume was moderate at 422.2 million shares worth 3.5 trillion won ($3.22 billion) with losers outpacing gainers 479 to 336.“Investor sentiment was dented by the outcome of Italy’s elections,” said Bae Sung-young,
Feb. 26, 2013
-
KT stresses need for virtual goods marketplace
BARCELONA, Spain ― KT chairman Lee Suk-chae on Tuesday stressed the need for his company to transform from a telecommunications firm into an information communications technology company to deal with the trading of broadband-based virtual goods.“There is no future if we only cling to network traffic fees. We must create a global common market for distribution of virtual goods,” he said in a keynote session at the Mobile World Congress.“KT is directly entering the virtual goods market and transfo
IndustryFeb. 26, 2013
-
Ssangyong E&C files for debt workout
Ssangyong Engineering & Construction, the nation’s 13th-largest builder, filed for a debt workout program on Tuesday in an effort to overcome its liquidity crunch.Under the program, a company requests its creditor banks for a payment deferment or partial debt relief, in exchange for amending its financial and employment structure.The company’s credit rating was thus downgraded from B- to CCC, according to the Korea Investors Service Inc., Korea Ratings Corp. and NICE Information Service.Hit by t
IndustryFeb. 26, 2013
-
NPS assets pass 400 trillion won
The National Pension Service, the country’s pension fund operator, said Tuesday that its assets reached more than 400 trillion won ($368 billion).This accounts for about one-third of Korea’s gross domestic product and is worth almost double the market cap of Samsung Electronics, the largest listed company on the stock exchange, it noted.It is also more than eight times the sum of Hyundai Motor’s total market value, and the pension fund operator could afford to acquire about an 88 percent stake i
Feb. 26, 2013
-
SKT to expand into B2B solution, IPTV, health care
BARCELONA, Spain ― SK Telecom plans to triple the size of the firm’s business-to-business solution projects up to 1.5 trillion won ($1.4 billion) in sales by 2015 as part of its efforts to move beyond the telecom business.Ha Sung-min, chief executive of the country’s top mobile carrier, also said it would secure 7 million customers in its media business, which includes Internet protocol televisions, and have its health care project grow into one that produces 1 trillion won in sales by 2020.“In
IndustryFeb. 26, 2013