Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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Rapper jailed after public street fight with another rapper
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Weekender] How DDP emerged as an icon of Seoul
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[KH Explains] No more 'Michael' at Kakao Games
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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Local fashion retailers throw down gauntlet
Japan’s Uniqlo, Spain’s Zara and Sweden’s H&M have for years enjoyed huge sales to the point of dealing a blow to most other casual brands here.Sales of such global fast fashion brands have grown 56 percent annually on average over the past three years in Korea. By designing and manufacturing quickly and cheaply based on the latest trends presented at Fashion Week, these specialty store retailers of private-label apparel have led a major transition in the clothing retail industry.They have impro
IndustryJan. 31, 2013
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Seoul shares slip 0.13 pct on financials
South Korean stocks ended 0.13 percent lower on Thursday mainly due to losses in banks and insurers. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.49 points to 1,961.94. Trading volume was moderate at 394.3 million shares worth 4.4 trillion won (US$4 billion), with decliners outnumbering gainers 445 to 370."Basically, we didn't have much good news from abroad. There were concerns over U.S. growth as well as the Italian stock market
Jan. 31, 2013
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iPhone owners pay biggest monthly bills
iPhone owners pay more per month -- more than $100 for calls, texts and data -- than users of other smartphone platforms, a U.S. research firm says.Consumer Intelligence Research Partners said their analysis found 59 percent of iPhone users have monthly bills of more than $100, with 10 percent paying even more than that, approaching $200 a month.A little over a third of iPhone users pay $51 to $100, the firm said.In comparison, 53 percent of Android phone users pay more than $100, while less tha
TechnologyJan. 31, 2013
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Seoul share down 0.22 pct in late-morning trade
South Korean stocks traded 0.22 percent lower late Thursday morning due to losses in shares of major banking groups and technology firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.36 points to 1,960.07 as of 11:20 a.m.Financials led the decline, with Shinhan Financial slumping 3.34 percent. Market bellwether Samsung Electronics also slipped 0.21 percent.Automakers limited losses, with No. 2 carmaker Kia Motors adding 2.77 percent.The local currency was changing
Jan. 31, 2013
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RIM launches new name and BlackBerry 10
Canadian smartphone pioneer Research In Motion said it was changing its name as it launched its new BlackBerry 10 smartphone Wednesday.RIM, as it was sometimes called, produced the first wildly popular cell phone, called the BlackBerry, which has struggled to get out from under a wave of rivals that followed, most notably Apple with its iconic iPhone and a host of phones that use Google‘s Android operating system.The Canadian company Wednesday said it would adopt the name of its most familiar pr
CompaniesJan. 31, 2013
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Seoul shares open lower on U.S. losses
South Korean stocks started lower on Thursday, tracking overnight losses in the U.S. stock market, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.98 points, or 0.05 percent, to 1,963.45 in the first 15 minutes of trading.Financials led the loss with KB Financial and Shinhan Financial falling 2.89 percent and 2.98 percent, respectively.Samsung Electronics, the country's top market cap, also lost 0.14 percent.The local currency was trading at 1,087.25 won against t
Jan. 31, 2013
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No comparison between space programs of two Koreas: U.S. gov't
The U.S. government made clear Thursday that it makes no sense to compare the rocket launches of the two Koreas."You know our view that there is no basis for comparing the behavior of the ROK in space with the behavior of the DPRK," State Department spokeswoman Victoria Nuland said at a press briefing. She was using the acronym of the formal names of the Koreas -- the Republic of Korea and the Democratic People's Republic of Korea.Earlier in the day, South Korea succeeded in its third attempt to
TechnologyJan. 31, 2013
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S. Korea's new satellite makes contact with ground station
South Korea's new science satellite successfully made contact with a ground station here Thursday, marking a complete success in the country's launch of its first-ever space rocket on the previous day, officials said.The first communication contact was made at 3:27:12 a.m., according to officials from the country's Satellite Technology Research Center at the Korea Advanced Institute of Science and Technology in Daejeon, 160 kilometers south of Seoul.The contact came after the Korea Space Launch
TechnologyJan. 31, 2013
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Top NCO retires
BusinessJan. 31, 2013
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Toyota says to recall 900,000 cars
Japanese auto giant Toyota said Wednesday it would recall more than 900,000 vehicles in Canada, Japan, Mexico and the United States because of an airbag problem.Toyota will replace parts used in some 907,000 hatchbacks, named Voltz in Japan and Corolla and Corolla Matrix overseas, and produced between 2001 and 2004, a company spokesman said.(AFP)
IndustryJan. 30, 2013
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Korea makes contact with newly launched satellite
The Korea Aerospace Research Institute announced that it has made contact with the country’s new scientific satellite, completing a mission to send a satellite into orbit for the first time from its own soil.The satellite first communication contact was made at 3:27:12 a.m., according to officials from the country‘s Satellite Technology Research Center at the Korea Advanced Institute of Science and Technology in Daejeon, 160 kilometers south of Seoul.Korea on Wednesday successfully launched its
TechnologyJan. 30, 2013
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What’s next after Naro?
Korea plans to develop a three-stage indigenous space rocket, the KSLV-2, by 2020. Before that, it aims to develop a 75-ton thrust engine by 2018. Kim Seung-jo, president of the Korea Aerospace Research Institute, said earlier that the country should look to a private space firm called SpaceX for its future space model. The California-based firm’s two-stage rocket uses the Merlin engine, which provides a 66-ton thrust using liquid oxygen and kerosene. The first stage has nine Merlin engines clus
TechnologyJan. 30, 2013
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Korea takes crucial step toward space era
With the successful launch of the Naro rocket on Wednesday, Korea made a major stride in its decade-old bid to gain entry into the elite club of players in space technology and the lucrative space services market.The 33.5-meter, 140-ton Korea Space Launch Vehicle-1 blasted off from the Naro Space Center on the south coast, putting the nation’s 15th satellite into orbit. Korea became the 11th nation to have successfully sent a domestic satellite from its own soil.The achievement marks a momentous
TechnologyJan. 30, 2013
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U.S. looks to futuristic guns for safety
NEW YORK (AP) ― It sounds, at first, like a bold, next-generation solution: personalizing guns with technology that keeps them from firing if they ever get into the wrong hands.But when the White House called for pushing ahead with such new technology as part of President Obama’s plan to cut gun violence, the administration did not mention the concept’s embattled past. As with so much else in the nation’s long-running divisions over gun rights and regulation, what sounds like a futuristic vision
TechnologyJan. 30, 2013
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LGE posts solid quarterly profit
LG Electronics said Wednesday that it posted 13.49 trillion won ($12.42 billion) in sales and 107.2 billion won in operating profit for the final quarter of last year, boosted by rising sales of smartphones and TVs.The electronics maker also said that the quarterly operating profit and sales increased 25 percent and 9 percent, respectively, compared to the same period last year.In total, the company recorded 50.96 trillion won in annual sales and 1.13 trillion won in annual operating profit for
IndustryJan. 30, 2013
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Doosan seeks to buy Italian energy firm
Doosan Heavy Industries and Construction, in a move to advance in the lucrative power plant business, shaped up its plan to take over an overseas company possessing original technology in nuclear power generation.The engineering, procuring and construction company recently made its preliminary bid on Ansaldo Energia, an energy generating subsidiary of Finmeccanica, Italy’s state-run defense company.Ansaldo, especially its nuclear power production arm Ansaldo Nucleare, possesses refined technolog
IndustryJan. 30, 2013
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Foreign CEOs invited for forum on Park’s policy
The foreign business community in Korea is expected to be offered a rare opportunity to directly converse with the incoming Park Geun-hye government. On March 20, The Korea Herald and The Herald Business will jointly host a dialogue between global companies here and the five top government officials of the Park government in the fields of economy, welfare, labor, finance and defense. The event will be held for over 500 businesspeople in the foreign corporate community here, at Millennium Hilton
IndustryJan. 30, 2013
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Korea’s income inequality 3rd highest in OECD
Income disparity among Koreans aged 65 and older is widening as the population rapidly ages with fewer job opportunities for the elderly.Income inequality in Korea among those 65 and older reached an all-time high of 0.419 on the Gini index in 2011, according to the country’s statistics bureau and the Korea Labor Institute.The number broke the 0.5 mark after measuring incomes after subtracting public assistance funds and basic insurance benefits for senior citizens.A coefficient approaching 1 si
Jan. 30, 2013
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Top conglomerates have thick glass ceiling
The ratio of female executives at South Korea’s top conglomerates reached 1.5 percent, data showed Wednesday, raising concerns over the severe gender imbalance in the local firms’ C-suite.Women accounted for 77 of the total 5,201 executives at 94 affiliates of the country’s 10 major business groups as of Friday, according to the data compiled by research firm CEO Score.Samsung Group, South Korea’s top conglomerate, employed 39 high-ranking female officials, accounting for more than half of the t
Jan. 30, 2013
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Hana Bank raises $500m via bond sale
Hana Bank, South Korea’s No. 4 bank, said Wednesday that it has raised $500 million by selling global bonds in order to repay maturing foreign currency debt. The lender said the three-year bonds carry an interest rate of 1.375 percent, which translates into a rate of 1.05 percentage points higher than the yield on three-year U.S. Treasuries.The debt sale was co-arranged by five foreign investment banks, including Barclays and BoA-Merrill Lynch, the bank added. (Yonhap News)
Jan. 30, 2013