Most Popular
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Hybe's multilabel system tested amid conflict with Ador
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Scarred for life
Children who are victimized by playground bullying are more likely to develop anxiety disorders, depression and suicidal thoughts when they become adults than those who are not, according to new research by U.S. psychiatrists.A group of researchers from Duke University looked at 20 years of data from over 1,000 participants and found that bullying victims can sustain profound damage later in life unless the problem is addressed immediately.“This psychological damage doesn’t just go away because
TechnologyFeb. 21, 2013
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National Pension Service chief to resign
National Pension Service chairman Jun Kwang-woo said he would tender his resignation Friday.“Chairman Jun’s decision to step down from his post comes in line with the upcoming expiration of President Lee Myung-bak’s tenure (on Feb. 24),” a senior official at the NPS told The Korea Herald.Though Jun’s term was recently extended by one more year until December 2013, he has decided to resign before the Park Geun-hye administration takes office on Feb. 25, said the official.Jun, who worked as the na
Feb. 21, 2013
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NASA instrument sees giant sunspot forming
NASA says it Solar Dynamics Observatory has detected a giant sunspot that has grown to over six times the diameter of Earth in the last two days.Sunspots form on the sun‘s surface as magnetic fields rearrange and realign.Beginning Tuesday, instruments on the solar observatory detected a sunspot that grew to giant proportions in just under 48 hours, the space agency said Wednesday.The spot has quickly grown into what astronomers call a delta region, in which the lighter areas around the sunspot,
TechnologyFeb. 21, 2013
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[Photo News] All New Range Rover
MobilityFeb. 21, 2013
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More people sit at work, more disease risk
The more people sit the more they are at risk for chronic diseases even if they had a similar body mass index with those who sat less, U.S. researchers say.Richard Rosenkranz, assistant professor of human nutrition, at Kansas State University and colleagues examined the associations of sitting time and chronic diseases in middle-aged Australian males. Rosenkranz, and Emma George and Gregory Kolt, both at the University of Western Sydney, said the study involved 63,048 men ages 45-65 from the Aus
TechnologyFeb. 21, 2013
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Seoul shares down 0.46 pct in late-morning trade
South Korean stocks traded 0.46 percent lower late Thursday morning due to losses in brokerage houses and logistics firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) decreased 9.26 points to 2,015.38 as of 11:20 a.m.Brokerage houses traded lower, with Samsung Securities falling 1.05 percent and KDB Daewoo Securities losing 1.21 percent. Woori Investment & Securities moved down 1.17 percent.Logistics shares also lost ground, with Hanjin Shipping declining 2.19 percent a
Feb. 21, 2013
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Sales at discount outlets, department stores plunge in Jan.
Sales at the country's major discount outlet chains plunged from a year earlier last month with sales of department stores also dropping significantly, the government said Thursday, pointing to worsening consumer sentiments here.The combined sales of the country's three major discount outlet chains fell 24.6 percent from the same period last year in January, according to the Ministry of Knowledge Economy. The three outlet chains are Lotte Mart, E-Mart and Homeplus.The ministry attributed such a
Feb. 21, 2013
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Sony bills coming PS4 console as future of gaming
Sony unveiled a new-generation PlayStation 4 system on Wednesday and laid out its vision for the "future of gaming" in a world rich with mobile gadgets and play streamed from the Internet cloud.At a press event in New York, computer entertainment unit chief Andrew House said PS4 "represents a significant shift from thinking of PlayStation as a box or console to thinking of the PlayStation 4 as a leading place for play."PS4 was designed to get to know players, ideally to the point of being able t
TechnologyFeb. 21, 2013
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Seoul shares open lower on U.S. losses
South Korean stocks got off to a weak start on Thursday, tracking overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.82 points, or 0.34 percent, to 2,017.82 in the first 15 minutes of trading.Large caps mostly retreated, with market bellwether Samsung Electronics slipping 0.19 percent and the country's top steelmaker POSCO slumping 1.35 percent.The local currency was trading at 1,081.85 won to the U.S. dollar as of 9:15 a.m., down 3.35 w
Feb. 21, 2013
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Green energy industry prospects dimming
The nation’s clean energy businesses are going downhill, squeezed by a slump in domestic demand and exports, according to a report.The report released by the Renewable Energy Center under Korea Export-Import Bank forecast that sales of the local renewable energy industry were expected to post minus growth this year over 2012, mainly due to slow local demand. Sales in the clean energy industry have shown a downward trend for two consecutive years in 2011 and 2012, after peaking in 2010 at 8.1 tri
IndustryFeb. 20, 2013
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[Newsmaker] Nominee for science ministry in tight spot
Controversy over the appointment of Kim Jeong-hoon as the minister of future creation and science is growing as opposition lawmakers are increasingly questioning his nationality and patriotism.Kim’s strong track record as an entrepreneur and engineer with a rich education background, was not enough for the opposition Democratic United Party, which argued that it was against the law to appoint someone who has foreign citizenship.It also raised concerns about Kim’s loyalties, pointing out that he
TechnologyFeb. 20, 2013
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[Graphic News] One in three North Americans uses a Korean smartphone
More than 1 in 3 North American smartphone owners use a made-in-Korea device, according to Strategy Analytics, a U.S. market research firm.The company said Apple became the biggest seller of smartphones in North America with a 37.6 percent market share last year. But Samsung Electronics and LG Electronics continued to increase their sales in U.S. and Canada with market shares of 26.6 percent and 7.1 percent, respectively.Market analysts said the two Korean companies’ combined sales are expected
TechnologyFeb. 20, 2013
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Shinhan Financial may face rating downgrade
Investigations into Shinhan Financial Group by the prosecution and the financial regulators over a series of alleged wrongdoings may damage the lender’s credit rating this year, market insiders said Wednesday. They said Shinhan Financial would have to be wary of another downgrade in its credit rating this year, following a case from its embezzlement scandal in 2010.Their negative outlook on Shinhan Financial ― though it posted the highest earnings among Korea’s financial firms last year ― is bas
Feb. 20, 2013
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Hyundai-Kia’s overseas sales to trump 50m units
Hyundai-Kia’s accumulated overseas sales volume is set to break the 50-million mark next month.The two affiliated automakers sold 48.33 million units abroad as of late last year since Kia shipped off 10 Brisa pickup trucks bound for Qatar 38 years ago.Since the two companies’ average monthly sales abroad range between half a million and 600,000 units, their accumulated sales volume is expected to surpass 50 million units in March, Hyundai said.Hyundai Motor started exports in 1976 by shipping of
IndustryFeb. 20, 2013
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Shinsegae’s Chung steps down as board director
Shinsegae Group vice chairman Chung Yong-jin will step down as board director of Shinsegae Co. and E-Mart, the retail giant said Wednesday amid ongoing prosecution’s investigations into those companies.The prosecution has for months been looking into whether Chung ordered Shinsegae affiliates to back their sister bakery firm, Shinsegae SVN, and allegations that E-Mart spied on its employees to discourage union activities.The CEOs of each Shinsegae affiliate will lead existing businesses while Ch
IndustryFeb. 20, 2013
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Korea-made Chevrolet Trax unveiled
GM Korea unveiled Wednesday the Chevrolet Trax, a new compact sport utility vehicle that GM’s small vehicle development team has been leading the engineering and design of over the past five years. Amid the growing acceptance of small-engine, fuel-efficient vehicles globally, carmakers have recently been betting big on the niche segment ― compact SUVs. And the Korean-flavored Trax is the first of its kind to be introduced here. “Trax is a vehicle of a new concept. It combines functionality of SU
IndustryFeb. 20, 2013
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Shares jump 1.95% on exporters
South Korean stocks ended 1.95 percent higher on Wednesday as a rosy outlook on the global economy prompted investors to pick up blue-chip exporters, analysts said.The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 38.81 points to 2,024.64. Trading volume was moderate at 401.6 million shares worth 4.8 trillion won ($4.5 billion), with gainers far outnumbering decliners 559 to 233.Foreigners and institutions snapped up shares, but retail inv
Feb. 20, 2013
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Yongsan development project faces key decision this week
A crucial decision on the future of the faltering Yongsan project, the nation’s biggest property development worth about 31 trillion won ($30 billion), is expected to come this week as the developer and major shareholders are set to hold a separate meeting.The state-run KORAIL, the largest shareholder in the project, will hold a board meeting Thursday to decide whether to back the issuance of asset-backed commercial paper worth 300 billion won ($278 million), one of last resorts to finance the p
Feb. 20, 2013
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Lee retires as CEO of Homeplus
Lee Seung-han, chief executive of Homeplus, Tesco Korea, has decided to retire from his post in May, Tesco plc said. Lee will be staying on as a non-executive chairman of Homeplus Group.“He will also be appointed to chairman and professor emeritus of the Tesco Leadership Academy; remain chairman of the e-Paran Foundation; and become a personal adviser to me,” Philip Clarke, CEO of the British retailer, said in a statement Tuesday evening.Lee took the helm of what was then Samsung C&T’s retail di
IndustryFeb. 20, 2013
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Kim offers to resign as micro credit bank chief
Smile Microcredit Bank chairman Kim Seung-yu has expressed his intention to step down from his post, said the Financial Services Commission, the parent entity of the state-run bank.President Lee Myung-bak had installed his college classmate Kim as chief of the foundation, which runs more than 100 micro credit outlets across the country for the underprivileged.While the extended term of Kim, who had worked as chairman of Hana Financial Group, is scheduled to end in February 2015, he reportedly te
Feb. 20, 2013