Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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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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Over 9,000 hotline calls made by stalking victims in 2023
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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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4 Korean think tanks listed in world rankings
Four Korean research institutions were recognized for being in the world’s top 150 think tanks, a report showed on Tuesday.The list released by an academic program at the University of Pennsylvania placed the government-affiliated Korea Institute for International Economic Policy at 55th. Three other Korean institutes made the 2012 Global GoTo Think Tank Index. The Korea Development Institute took 58th place, the East Asia Institute was 65th and the Institute of Foreign Affairs and National Secu
TechnologyJan. 23, 2013
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Female vice president named GM Korea CFO
GM Korea Co., the local unit of U.S. General Motors Co., said Wednesday that a female vice president has been named its chief financial officer.Minerva Matibag, currently the CFO for GM’s Brazil unit, will also be in charge of finances for the firm’s operations in Vietnam and Uzbekistan, GM Korea said in a statement. The first woman CFO of GM Korea will start her job on Feb. 1, the company added.The Filipina started her financial career at GM’s Asia Pacific office in 1997 and went on to financia
MobilityJan. 23, 2013
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Samsung taps former Sony exec to head Japanese arm
Masaaki Tsuruta, a former executive at Sony of Japan, was tapped as the head of Samsung Electronics Japan, Samsung officials confirmed Wednesday.Tsuruta, 56, was appointed to the post as of Jan. 1 to overlook the Japanese corporation, which is mandated to handle mostly equipment and parts, such as semiconductors and LCD panels.Samsung Electronics had reshuffled its Japanese operations in March last year by disassembling its existing entity to form two separate offices: one for handling smartphon
IndustryJan. 23, 2013
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LSIS wins power system order for KEPCO-Alstom JV
LSIS, a leading cable company in Korea, said Wednesday it was selected as a preferred bidder to manufacture a high-voltage direct current system, an advanced electric power transmissions technology, for KEPCO-Alstom Power Electronics System. KEPCO-Alstom Power Electronics System is a joint venture firm between state-run KEPCO and France-based Alstom for electricity-related businesses. The deal will transfer the HVDC technology to LSIS and support the company to tap into the lucrative, high-end e
Jan. 23, 2013
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Shares dip ahead of earnings releases
South Korean stocks dropped 0.81 percent Wednesday as investors took to the sidelines ahead of releases of fourth-quarter earnings of big-name companies, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 16.11 points to finish at 1,980.41. Trading volume was moderate at 485.7 million shares worth 4.16 trillion won ($3.9 billion) with losers outnumbering winners 500 to 300.“Investors remain cautious to see how large-cap com
Jan. 23, 2013
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Samsung Card emerges as No. 2 in industry
Samsung Card Co., the credit card arm of South Korea’s top conglomerate Samsung Group, has become the No. 2 player in the local industry thanks to the company’s stepped-up efforts to boost its market share, sources said Wednesday.The market share of Samsung Card reached 14.1 percent in the second quarter of last year, trailing only Shinhan Card Co. with 20.8 percent and outpacing rivals such as KB Kookmin Card Co. and Hyundai Card Co. KB Kookmin Card and Hyundai Card accounted for 13.3 percent a
Jan. 23, 2013
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FSS to start magnetic-strip card phase-out in February
Cash cards that use magnetic strips for transactions will be partially banned at automated teller machines starting Feb. 1.Under regulatory countermeasures to minimize financial scams including forgery of credit cards or cash cards, the Financial Supervisory Service has advised consumers to replace their magnetic cards with “integrated circuit” cards over the past year.“As an initial step, cash transactions with magnetic-strip cards will not be available at about 50 percent of ATMs at financial
Jan. 23, 2013
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Sales at major retailers shrink
Sales at both major discount outlet chains and department stores in South Korea dropped in December from a year earlier, reflecting worsening consumer sentiment, the government said Wednesday.The combined sales of the country’s three major discount outlet chains ― Lotte Mart, E-Mart and Home plus ― dropped 5 percent on-year in December, according to the Ministry of Knowledge Economy.This compares with a 3.7 percent on-year gain in December 2011, and also with a 1.7 percent on-year drop in Novemb
Jan. 23, 2013
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Hanwha donates solar module to Davos
Hanwha Group has donated a solar module to the city of Davos, Switzerland, taking part in a global campaign to reduce carbon dioxide, company officials said.Hanwha Q-Cells held a donation ceremony at the city’s town hall on Tuesday, shortly before the opening of the 43rd annual meeting of the World Economic Forum.The corresponding module is to be installed by the end of the year on the roof of the Davos Congress Center building and will generate 340 kilowatts of solar energy per year, officials
IndustryJan. 23, 2013
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Samsung, LG to abandon LCD TVs
LED screens are expected to become dominant in the global television market starting next year as the world’s two top television makers ― Samsung and LG ― are poised to stop producing LCD panel TVs in North America this year to focus on LED. LG Electronics had already expressed such plans at the Consumer Electronics Show held in Las Vegas earlier this month. Recently, Samsung also said it would be suspending the production of LCD panels in Mexico, Hungary, Slovakia and others. In particular, the
IndustryJan. 23, 2013
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Revamp boosts trade negotiation efficiency
South Korea’s trade policies, including free trade agreements, are expected to undergo a drastic overhaul under the new government as the presidential transition committee has decided to transfer trade issues from the Foreign Ministry and Ministry of Strategy and Finance over to the Knowledge Economy Ministry.Under the government reorganization plan, the Knowledge Economy Ministry, currently in charge of policies on industries, will absorb nearly all functions related to trade while the Foreign
Jan. 23, 2013
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Samsung seeks to use papers from California case for Apple suit in Japan
Samsung Electronics Co. asked a U.S. judge to allow it to use documents from its patent-infringement case against Apple Inc. in California for litigation pending between the companies in Japan.Samsung told U.S. Magistrate Judge Paul Grewal in San Jose, California, today that it needs information exchanged between the companies in his court to contest the validity of Apple’s patents at issue in cases pending in Japan.Samsung seeks any documents concerning iPhone sales before June 29, 2007, as wel
TechnologyJan. 23, 2013
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Dell may be near buyout on partial MS funding
Dell Inc. is getting closer to clinching a leveraged buyout with Silver Lake Management LLC, and Microsoft Corp. is planning to provide part of the funding, people with knowledge of the matter said.Silver Lake and Dell are negotiating a price in the range of $13.50 to $14.25 a share, said one of the people, who asked not to be named because the talks are private. Microsoft is discussing contributing about $2 billion for the deal, which could be announced this week, the person said. Microsoft sta
TechnologyJan. 23, 2013
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Genie aims high to become global standard music service
KT is planning to beef up cooperation with overseas mobile carriers to have its smartphone-only music service app Genie be positioned as a global standard for music service in the upcoming years, said a key KT executive on Wednesday. In an interview with The Korea Herald, Ahn Tae-hyo, executive vice president at the mobile data business unit at KT, stressed that Genie was a service that targeted the overseas markets from its brainstorming stage.“With the launch of the service in 45 different nat
TechnologyJan. 23, 2013
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Music app Genie: KT’s core growth engine
Genie, KT’s music service for smartphones, has become one of the core future growth engines for the mobile carrier with it rolling out in 45 different nations last week.KT, the country’s largest fixed-line operator, said Wednesday that the music content app, which launched as “Genie KPOP,” aims to fulfill the needs of overseas K-pop fans.The smartphone app allows people to have access to music, music videos, images and video clips of K-pop artists from the country’s top entertainment companies,
TechnologyJan. 23, 2013
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Couples who sleep well are less selfish: study
Couples who sleep well are likely to appreciate their spouse, a study suggested.The study conducted by researchers at the University of California, Berkeley asked 60 couples aged 18 to 56 to keep track of how many hours they slept each night and how much they appreciated their spouse. Research results showed couples who slept well had better problem-solving skills when asked to work together and showed gratitude to their spouses. Although health benefits of a good night’s sleep are well known, l
TechnologyJan. 23, 2013
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Vitamin D may be a breast cancer therapy
Vitamin D may be involved in a possible new breast cancer therapy, U.S. and Spanish researchers say.Susana Gonzalo, an assistant professor of biochemistry and molecular biology at Saint Louis University, and her team identified one pathway activated in breast cancers with the poorest prognosis, such as those classified as triple-negative. These cancers often strike younger women and are harder to treat than any other type of breast cancer. Women who are born with BRCA1 gene mutations are at inc
TechnologyJan. 23, 2013
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Women look the oldest at 3:30 p.m., Wednesday: study
Women look their oldest at 3:30 p.m. every Wednesday, a new study claims.The research conducted by a tanning brand St. Tropez found that accumulated work stress coupled with plunging energy levels and effects of weekend drinking starts to take its toll by mid-week, according to British media.“It’s fascinating that 3:30 p.m. on a Wednesday is the time women look their oldest. Combine the highest stress levels of the week on a Wednesday with the natural mid-afternoon slump and it seems that’s why
TechnologyJan. 23, 2013
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Life on Mars may have been underground
Minerals once more than three miles below the martian surface are the strongest evidence yet the Red Planet may have supported life, researchers say.New research suggests ingredients for life have been present in the martian subsurface for much of the planet's history, they said.Scientists have been studying McLaughlin Crater, one of many martian craters where impacting meteors have acted like natural probes, bringing up rocks from far beneath the surface.Spectrometer data on those rocks from NA
TechnologyJan. 23, 2013
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Seoul shares dip 0.81 pct ahead of earnings releases
South Korean stocks dropped 0.81 percent Wednesday as investors took to the sidelines ahead of releases of fourth-quarter earnings of big-name companies, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 16.11 points to finish at 1,980.41. Trading volume was moderate at 485.7 million shares worth 4.16 trillion won (US$3.9 billion) with losers outnumbering winners 500 to 300."Investors remain cautious to see how lar
Jan. 23, 2013