Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
3
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
-
4
Second Gimpo civil servant found dead, after apologizing for not finishing work
-
5
DP leader says he will meet Yoon without conditions
-
6
Seoul to promote luxurious side of the city
-
7
First-ever meeting of president, opposition chief set to finally happen
-
8
NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
-
9
Experts raise concerns about Japan putting pressure on Naver over Line
-
10
Samsung mobile chief, Google device head meet in Seoul
-
Halla Climate falls as Hyundai switches supplier
Halla Climate Control Corp. fell the most in almost five months in Seoul trading after Hyundai Motor Co. chose Japan’s Denso Corp. to supply air-control equipment.Halla Climate, a maker of car air-control systems and components, slumped 11.4 percent to 21,400 won at the close in Seoul, its biggest drop since Aug. 7. South Korea’s benchmark KOSPI index declined 0.6 percent.Hyundai Motor will use Denso’s air-control parts for U.S.- made Sonata sedans, the auto company, South Korea’s biggest carmak
Jan. 3, 2013
-
Revised bill to affect supermarkets’ suits against ward offices
The revised Retail Industry Development bill, which the National Assembly passed on Tuesday, is expected to affect large discount store chains’ legal actions against ward offices’ rules on business hours and closing days of major retailers.Seven retail chains, including E-mart and Homeplus, have filed suits against 11 district offices in Seoul so far over their latest regulations aimed at protecting mom-and-pop stores from the retail giants’ dominance. This week’s revision of the Retail Industry
IndustryJan. 3, 2013
-
KT to separate divisions’ accounting
KT, the country’s No. 2 mobile carrier, is undergoing big changes to establish an independent financing system for each division that will improve efficiency and enhance the financial transparency of the firm.A key KT executive recently told a pool of reporters that the company was in the process of running a new financing system for its three divisions ― Telecom & Convergence, Customer and Global & Enterprise.The divisions currently are headed by three different chiefs ― Pyo Hyun-myung for T&C,
IndustryJan. 3, 2013
-
Electricity consumption shoots up to record high
South Korea’s peak electricity consumption shot up to a new all-time high Thursday as temperatures dropped to the lowest so far this winter.The peak demand surged to 76.93 million kilowatts at 10:18 a.m. with the average consumption between 10 a.m. to 11 a.m. coming to 76.52 million kilowatts, according to the state-run Korea Power Exchange.Such a record demand came as the mercury dropped to as low as minus 16.4 degrees Celsius in Seoul, the lowest since the ongoing cold season began.The electri
Jan. 3, 2013
-
Duty free shops set to open outlets in small cities in Korea
Duty free shops will open in nine cities for the first time this year after the government approved the plan at the end of 2012.The Korea Customs Service licensed nine small and medium companies to run duty free shops in major cities ― Daegu, Incheon, Daejeon, Ulsan, Suwon, Cheongju, Suncheon, Gyeongju and Changwon ― to help local cities attract more foreign shoppers and boost their local economies. Currently, duty free shops only exist in Seoul, Busan and Jeju. The licensees, ranging from local
IndustryJan. 3, 2013
-
Korea may lose top spot in shipbuilding to China
Korea may drop to second in the international ranking for shipbuilding exports in 2012, giving the top spot to China for the first time since 2001, the Institute for International Trade said on Thursday. In the first 10 months of last year, exports of Korean shipbuilders marked $33.5 billion (35.6 trillion won), a 29.5 percent drop from the same period in 2011. It was the first time the nation’s shipbuilding industry posted minus growth since 1999 when the nation was hit hard by the currency and
IndustryJan. 3, 2013
-
InterDigital files complaints on Samsung, two others
Huawei Technologies Co., ZTE Corp. and Samsung Electronics Co. were named in a new patent- infringement complaint filed by InterDigital Inc. over technology related to the latest mobile-phone standards.The complaint, filed with the U.S. International Trade Commission in Washington, builds on one that InterDigital lodged against Huawei, ZTE and Nokia Oyj in 2011, which is scheduled for a hearing in February. The case includes new patent claims against Huawei, ZTE and Nokia and adds Samsung, which
TechnologyJan. 3, 2013
-
Steel industry bets on business diversification
The nation’s major steelmakers are diversifying into non-core businesses such as energy, construction and agriculture to shore up falling profits. POSCO, the world’s fourth-largest steelmaker by output, has cut its number of subsidiaries to 46 from 70 as of Jan., 1 mainly by merging those with overlapping businesses, the company said in a press release. The number of POSCO’s affiliates surged after takeover deals for the past few years, including Daewoo International, a trading company specializ
IndustryJan. 3, 2013
-
Kakao Story hits 1 billion postings
Kakao Story, a mobile social network service in South Korea, said its number of users reached 32.5 million, with more than 1 billion postings uploaded. Kakao Story, launched in March 2012, has gathered users rapidly thanks to its affiliation with Kakao Talk, Korea’s biggest mobile messenger. Kakao Talk contains a link to Kakao Story and users can automatically send their friends a message recommending its affiliated SNS service. Kakao Story sports a friendly user interface and simplified functio
TechnologyJan. 3, 2013
-
New online game ArcheAge garners mixed reviews
ArcheAge, a massively multiplayer online role-playing game, officially launched its open beta service on Wednesday, generating mixed responses from Korean gamers.ArcheAge, produced by Korean game company XLGames, made its long-awaited debut after 6 years of development in which over 40 billion won was invested. The game is one of the most anticipated blockbuster titles in 2013, instantly drawing more than 250,000 local gamers who applied for an advance character registration service ahead of the
TechnologyJan. 3, 2013
-
Study: A few extra pounds help you survive
Moderately overweight people are less likely to die than people of normal weight, a U.S. government study published Wednesday indicates.Being substantially obese, with a body mass index of 35 and higher, does raise the death risk 29 percent, researchers at the Centers for Disease Control and Prevention‘s National Center for Health Statistics said in the study, published in the Journal of the American Medical Association.But overweight people with a BMI of 25 to 30 -- who make up more than 30 per
TechnologyJan. 3, 2013
-
KT to establish self-supporting accounting system
KT, the country’s No. 2 mobile carrier, is undergoing changes to establish a self-supporting accounting system that will improve efficiency and enhance financial transparency of the firm.A key KT executive recently told a pool of reporters that the company was planning to run the new self-supporting accounting system for its three divisions -- Telecom & Convergence, Customer, and Global & Enterprise. The divisions currently are headed by three different chiefs -- Pyo Hyun-myung for T&C, Seo Yu-y
TechnologyJan. 3, 2013
-
Zodiac may look to buy STX Pan Ocean
Zodiac Maritime Agencies, a global ship owner and manager, could be interested in acquiring STX Pan Ocean, Korea’s leading operator of bulk carriers, industry sources said.The London-based ship management company, owned by the Ofer family, is believed to have emerged as "one of the potential overseas candidates" to purchase a controlling 36.8 percent stake in the Korean shipping company, the sources claimed.The 36.8 percent is held by STX, the parent holding company, STX Offshore & Shipbuilding,
IndustryJan. 3, 2013
-
Study: Babies learn language in the womb
Babies start learning language in the womb and at birth can differentiate between sounds from their native language and a foreign language, U.S. scientists say.Researchers at the University of Washington and Pacific Lutheran University in Tacoma report unborn babies are listening to their mothers talk during the last 10 weeks of pregnancy and at birth can demonstrate what they‘ve heard.That’s because sensory and brain mechanisms for hearing have developed by 30 weeks of gestation, they said.“The
TechnologyJan. 3, 2013
-
Developers find hints of iPhone 6
Application developers said they have spotted a technical hint that U.S. technology giant Apple is working on its next iPhone and an updated operating system.Next Web reported many developers had noticed their user logs with the company referencing “iPhone6,1” hardware using iOS 7, which would be the next generation phone and operating system No. 7.The company recently released its iPhone 5, which uses iOS 6.The Chicago Tribune noted Wednesday no information is available in the logs on what new
IndustryJan. 3, 2013
-
Seoul shares open lower on tech losses
South Korean stocks started a tad lower Thursday led by losses in techs and automakers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) started 10.14 points higher but soon shifted to negative territory to lose 0.84 points, or 0.04 percent, to 2,030.26 in the first 15 minutes of trading.Market bellwether Samsung Electronics lost 0.44 percent and the country's second-largest home appliances maker LG Electronics dipped 0.39 percent.Carmakers were weak, with industry leader Hy
Jan. 3, 2013
-
Foreign IBs mixed over Korea's rate policy
Global investment banks (IBs) have mixed views over South Korea's monetary policy for this year amid a modest recovery forecast with stable inflation predicted for the economy, a report said Thursday. Goldman Sachs expected the Bank of Korea (BOK) to keep its key interest rate steady throughout this year, citing a modest gain in consumer prices projected for 2013, according to the report by the Korea Center for International Finance. The central bank cut the key rate twice last year by a quarter
Jan. 3, 2013
-
S. Korea's auto sales top 8 mln in 2012
MobilityJan. 2, 2013
-
Halla Climate Control suffers as Hyundai Motor seeks new suppliers
Halla Climate Control, a top manufacturer of automotive air-conditioning and heating systems, has been dealt a blow as its key client Hyundai Motor seeks new suppliers. In 2011, trade with Hyundai made up 64.1 percent of Halla’s total sales. According to industry sources on Wednesday, Hyundai has recently stopped buying climate control products from Halla for the Sonata model produced at its Alabama plant and instead named Japanese auto parts maker Denso as the new supplier. The Korean auto gian
IndustryJan. 2, 2013
-
Samsung chief’s stock value soars
Lee Kun-hee, the chairman of South Korea’s most valuable firm Samsung Electronics Co., saw his stock value gain nearly 3 trillion won ($2.8 billion) in 2012, retaining his position as the country’s wealthiest shareholder for the third straight year, data showed Wednesday. Lee held 11.65 trillion won worth of shares as of Dec. 28, the last day of trading in 2012, compared with 8.79 trillion won a year earlier, according to data compiled by Chaebul.com., which tracks the country’s conglomerates, k
Jan. 2, 2013