Most Popular
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Yoon's approval rating plunges to all-time low
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S. Korea votes in favor of Palestinian bid for UN membership
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Korean art gets spotlight at Venice Biennale 2024
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Yoon offers first one-on-one meeting with opposition leader next week
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Revealed: The mystery of Rudolph‘s nose
Rudolph the Red-Nosed Reindeer‘s snout has been immortalised in movies, books and song. But until now, no-one has offered a scientific explanation for the glow that allows the world’s most famous antlered herbivore to guide Santa‘s sleigh through the night before Christmas.In a study released Monday, researchers in the Netherlands and Norway used a hand-held microscope to examine the nasal lining of five healthy humans, two reindeer and a sixth person with a non-cancerous nasal growth.Reindeer n
TechnologyDec. 24, 2012
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Park opting against radical chaebol reform
Following is the second in a series of articles on President-elect Park Geun-hye’s key policies ― Ed.Revamping the conglomerate sector was one of main campaign issues among presidential hopefuls amid the widening profit gap among industries and irregularities by their mammoth business groups.Most candidates designated their proposed reform of chaebol ― Korea’s family-owned conglomerates ― “economic democratization.” While liberal candidates had pledged to overhaul family-owned ownership structur
IndustryDec. 23, 2012
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Kakao Talk use triples in 5 months
Kakao, the developer of mobile messenger app “Kakao Talk,” said Sunday that its now 70 million users spend almost triple the time using the app on average as they did five months ago. The average weekly use of Kakao Talk reached 302 minutes, nearly triple the 107 minutes of the first week of July. In other words, Kakao Talk users run the app for about 43 minutes every day on average. The phenomenon indicates that existing Kakao Talk users rely heavily on the app to send mobile messages, Kakao sa
TechnologyDec. 23, 2012
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Ecuador volcano blasts more hot rock from crater
The Tungurahua volcano in central Ecuador keeps spewing gas, ash and red-hot rock, forcing hundreds to evacuate from their homes.The country’s Geophysical Institute says incandescent rock shot from the crater of the 5,023-meter high mountain fell about half (a kilometer) down its flanks. Explosions early Wednesday rattled windows 14 kilometers away, while rain-borne ash has been falling to the southwest of the crater.Regional emergency director Lourdes Mayorga says that about 100 families are st
TechnologyDec. 23, 2012
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Scientists draw diabetes-depression link
Patients with chronic diseases such as diabetes often gradually show symptoms of depression as their illness progresses.The link between diabetes and depression had long been suggested, but not proven, by scientists as far back as the 1680s when renowned English doctor Thomas Willis first stated the hypothesis.A team of Korean and American scientists, led by Dr. Lyoo In-kyoon of Ewha Brain Institute and Division of Life and Pharmaceutical Sciences at Ewha Womans University, corroborated this thr
TechnologyDec. 23, 2012
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KOGAS mulls expansion of stake in Mozambique field
The state-run Korea Gas Corp. said on Friday it is seeking to expand its shareholdings in a gas field in Mozambique to 30 percent from the current 10 percent. KOGAS CEO Choo Kang-soo told reporters on Friday that price will be a key factor for additional investment decisions in the Mozambique gas field. KOGAS found 10 trillion cubic feet of natural gas at one of four wells in an offshore block in northern Mozambique waters in October this year. KOGAS is also running a gas pipeline and operating
Dec. 23, 2012
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Hyundai Heavy Industries wins 5 LNG ship orders
Hyundai Heavy Industries Group, which includes the world’s largest shipbuilder Hyundai Heavy Industries Co., said Sunday that it has won orders to build five liquefied natural gas carriers for $1.05 billion.Hyundai Heavy Industries, the group’s flagship company, won a bid from a state-run energy company in Brunei on Friday to build a 155,000-cubic-meter LNG ship, the group said.Hyundai Samho Heavy Industries Co., a unit of the shipbuilding conglomerate, also received orders on Thursday to build
IndustryDec. 23, 2012
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Global sales of LTE smartphones to triple
Global sales of long-term evolution smartphones will likely triple next year, driven by South Korea’s tech giant Samsung Electronics Co. and its U.S. rival Apple Inc., a report showed Sunday. The report by research firm Strategy Analytics predicted that about 275 million units of LTE smartphones will be sold worldwide next year, which will be three times larger than this year’s annual sales estimate of 90.9 million units.The report expected that the U.S., Britain, Japan, China and South Korea wi
Dec. 23, 2012
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Samsung’s share in mobile memory chips tops 57%
South Korea’s tech giant Samsung Electronics Co. saw its market share in the global mobile memory industry exceed 57 percent during the third quarter thanks to growing demand for mobile devices, a market researcher said Sunday.Samsung Electronics sold about 2.1 billion units of mobile dynamic random access memories up until the third quarter of this year, according to a report by market researcher IHS iSuppli. Its global market share stood at 57.05 percent at the end of the third quarter.The num
Dec. 23, 2012
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Shares likely to move in tight range this week
South Korea’s stock market is expected to remain in a tight range this week with most major stock markets closed for yearend holidays, analysts said.They said the U.S. fiscal cliff issue will continue to weigh down on the local market but that a drop, if any, will not be too severe as the inflow of foreign investment continues to grow.The benchmark Korea Composite Stock Price Index closed at 1,980.42 last week, down 0.7 percent from a week earlier, as U.S. lawmakers and President Barack Obama fa
Dec. 23, 2012
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Eximbank hosts seminar on investment in Myanmar
The Export-Import Bank of Korea held a seminar on investment opportunities in Myanmar last week to provide information and insights to interested Korean businesses.About 150 officials from some 60 Korean companies and financial firms attended the seminar, jointly hosted with British law firm Ashurst, in which a former Myanmar official, Ashurst lawyers specializing in Myanmar and Eximbank officials in charge of economic development cooperation funds to Burma spoke about the country’s foreign inve
Dec. 23, 2012
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Yongsan development on verge of collapse
The Yongsan International Business District Project, a large-scaled development plan in central Seoul, is on the brink of collapse, mainly due to a lack of funds and conflict among shareholders, industry sources said on Sunday.As of Dec. 21, the remaining funds of the Dream Hub PFV consortium, which leads the 31 trillion won ($29 billion) development project, amount to 6.5 billion won and funds are expected to run out before the year-end unless additional money is secured, the sources said. The
Dec. 23, 2012
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Park to bring out underground economy
A key plank of President-elect Park Geun-hye’s fiscal policy is to bring out the underground economy into the open to help finance increased welfare spending.Several administrations since 1992 have attempted to get to the bottom of the nation’s underground, or shadow, economy ― the illegal, unreported, unrecorded and informal economy that is not included in the official GDP ― but failed. The tax authorities’ increased access to financial information is the key to successfully uncovering the shad
Dec. 23, 2012
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Toyota rated worst in U.S. insurance group’s tests
Toyota Motor Corp.’s Camry, the best-selling mid-size car in the U.S., and the Prius V hybrid earned the lowest ratings in a new crash test simulating a severe front-end collision, an insurance group found. The two Toyotas received the only “poor” scores on an Insurance Institute for Highway Safety test intended to evaluate a crash in which the front corner of a vehicle collides with another car, a tree or a pole. It is more stringent than the U.S. government’s test, which simulates a collision
MobilityDec. 23, 2012
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Audi, BMW see ‘Gangnam Style’ sales boost in Korea
Kim Ju-hee says the Korean cars favored by her parents and winning customers around the world aren’t bad, just rather dull. So as she looks for a new set of wheels, she’s skipping the Hyundai Motor Co. and Kia Motors Corp. dealerships near her Seoul home to scout Audi AG and Bayerische Motoren Werke AG showrooms in the city’s ritzy Gangnam district. “Audis are just better looking and offer something unique,” said the 27-year-old accountant, who has her eye on an Audi A6. “South Korean cars may h
MobilityDec. 23, 2012
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Local CEOs credited with import car boom
The nation’s import car market is enjoying a heyday.Foreign carmakers, largely led by the popularity of German brands have continued posting record sales here in recent years. This year their combined market share surpassed a milestone 10 percent in Korea where Hyundai and Kia vehicles dominate almost 80 percent of the market. Their car sales increased more than 20 percent to reach some 130,000 units this year. Next year the sales figure is expected to reach some 150,000. One of the reasons behi
MobilityDec. 23, 2012
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KDB holds jazz concert by vocalist Nah
The state-run KDB Financial Group held a concert for jazz vocalist Nah Youn-sun for its third anniversary on Sunday.The financial group invited a group of its customers to the event held at its headquarters in Yeouido to share the anniversary celebration.KDB officials said the event was also part of the banking group’s efforts to expand its role to include cultural support. The group plans to use the funds collected through the concert to support children entrusted from the international organiz
Dec. 23, 2012
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China holds test run on world’s longest high-speed rail line
China tested its 2,298-kilometer (1,428-mile) high-speed rail line, the longest in the world, as it prepares to start passenger service on Dec. 26. Bullet-trains on the line from Beijing to southern Chinese city of Guangzhou can run at an average speed of 300 kilometers per hour, the official Xinhua news agency said. It will shorten the rail travel time from the capital to the Pearl River Delta to about eight hours from the previous 24 hours. China is accelerating railway investment again after
IndustryDec. 23, 2012
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S. Korea has more workforce with college diplomas than a decade ago: labor ministry
The number of South Korean salaried workers with four-year college education has risen drastically for the past decade driven by education-oriented South Korean society, government data showed Sunday.South Korea had 5.4 million employees with college diplomas as of the end of last year, up 88 percent from 2.87 million in 2001, according to figures on the country‘s salaried employees released by the Ministry of Employment and Labor.The total workforce climbed 27.4 percent to 17.4 million from 12.
IndustryDec. 23, 2012
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Global sales of LTE smartphones expected to triple next year: report
Global sales of long-term evolution (LTE) smartphones will likely triple next year, driven by South Korea‘s tech giant Samsung Electronics Co. and its U.S. rival Apple Inc., a report showed Sunday.The report by research firm Strategy Analytics (SA) predicted that about 275 million units of LTE smartphones will be sold worldwide next year, which will be three times larger than this year’s annual sales estimate of 90.9 million units.The report expected that the U.S., Britain, Japan, China and Sout
TechnologyDec. 23, 2012