Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Will tug-of-war between doctors, government end soon?
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Yoon's approval rating plunges to all-time low
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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French Chamber to run 2012 Gala
The French Korean Chamber of Commerce and Industry will hold its annual gala for the French-Korean business community Saturday. The event has become a must-attend event for about 800 business figures from both nations every year. It is an exceptional opportunity to network and build relationships,” said an official at FKCCI through a statement. This year’s event will be held in partnership with Chamonix Mont-Blanc, and the most enchanted winter village scene will be reproduced at venue, the offi
IndustryNov. 26, 2012
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Black Friday boosts foreign online shopping sites
Spending a few hours every day browsing on U.S.-based online shopping malls for a good deal became a habit for 27-year-old office worker Cho Yun-hee ever since Black Friday sales began last week. “I have heard of Black Friday before, but considered it irrelevant to me because I live in Seoul. I only recently found out that there are ways I can take part in it by using overseas purchase and delivery agencies,” said Cho. “It will be cheaper than purchasing in Korea, even taking into account the de
IndustryNov. 26, 2012
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KOTRA invites foreigners to ‘get to know Korea’
Invest Korea, a unit under the state-run Korea Trade-Investment Promotion Agency, held an event on Sunday to introduce Korea’s traditional culture to foreign investors and diplomats here. At the event titled “Get to Know Korea,” over 90 foreign investors, diplomats, press correspondents and their families including Canadian ambassador to Korea David Chatterson and Fuji Xerox Korea CEO Yasuaki Ueno enjoyed the Korean traditional musical performance “Miso” at Chongdong Theater in central Seoul. “M
IndustryNov. 26, 2012
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New European chamber vows transparency
The secretary-general of the European Chamber of Commerce in Korea stressed that the newly formed chamber was a completely different organization from the controversy-plagued European Union Chamber of Commerce in Korea. Wolfgang Slawinski especially emphasized that the new organization would be tightly audited so that irregularities at the EUCCK would not be repeated. “This new chamber will guarantee transparency by introducing an external advisory board as well as being subject to outside audit
Nov. 26, 2012
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Sales of venture firms jump 13.9 pct in 2011
Sales of venture businesses in South Korea rose nearly 14 percent in 2011 from a year earlier, outperforming large companies and small and medium enterprises (SMEs), a report said Monday.The average revenue of local venture companies gained 13.9 percent on-year to 7.03 billion won ($6.47 million) last year, according to the report by the Small and Medium Business Administration (SMBA). The report is based on a survey of 2,034 new companies throughout the country.The sales growth rate outpaced a
Nov. 26, 2012
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6,000 or more steps a day = better health
Making 6,000 or more steps a day adds up to a healthier life for midlife women, researchers in Brazil found. Although previous research showed the value of structured exercise in lowering the risk of diabetes, high blood pressure and heart disease, this study shows habitual physical activity, whether it comes from exercising or just activities of daily living, can improve women‘s health.The study involved 292 women ages 45-72 living in Passo Fundo, Brazil, who wore pedometers and recorded their
TechnologyNov. 26, 2012
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Seoul shares start higher on U.S. gains
South Korean stocks opened higher Monday as investor sentiment got a boost from gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 0.80 points, or 0.04 percent, to trade at 1,912.13 in the first 15 minutes of trading.Shares gathered ground across the board, with LG Electronics increasing 2.1 percent while No.1 carmaker Hyundai Motor added 0.46 percent. Top chipmaker SK hynix moved up 0.78 percent.U.S. stocks ended higher Friday on rising consumer
Nov. 26, 2012
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Korea's consumer sentiment nears 9-month low in Nov.
South Korean consumers' confidence inched up in November from the previous month, but it remained close to a nine-month low as the economy continued to lose steam, the central bank said Monday.The consumer sentiment index -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 99 for November, up from a nine-month low of 98 tallied for October, according to a survey by the Bank of Korea (BOK).A reading below the benchmark 100 means pessimists outnum
Nov. 26, 2012
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Korea faces era of low growth: KDI
Korea will see the protracted economic slowdown continue next year amid tardy recovery in the global economy, a state-controlled research institute predicted Sunday.In its report, the Korea Development Institute revised its projection on the nation’s gross domestic product growth for 2013 down to 3 percent, from its earlier estimate of 3.4 percent.The think tank also forecast that the 2012 GDP growth would stay at 2.2 percent, compared with its earlier estimate of 2.5 percent.The KDI’s projectio
Nov. 25, 2012
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Department stores’ sales surge 14%
The winter weather has brought Christmas early to the nation’s major department stores this year, as winter apparel boosted their sales growth to double digits this month, data showed Sunday. The trio ― Lotte, Shinsegae and Hyundai ― saw their sales increase between 14.1 percent and 13.7 percent from Nov. 1 to Nov. 22, compared to the same period last year, according to data compiled by Yonhap News.Market analysts said the sales of overcoats and other winter jackets seemed brisk due to the early
Nov. 25, 2012
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Most in their 50s are unhappy: survey
A recent online survey found that six out of 10 Koreans in their 50s were unhappy. Samsung Life Retirement Research Center conducted the online survey last month of 1,000 citizens aged between 50 and 59 who live in Seoul and adjacent areas, on their preparation for retirement and life issues. Half of the respondents were working for a company, while the other half were retired. Multiple answers to each question were allowed. When asked whether or not the respondent was currently happy, 61.5 perc
Nov. 25, 2012
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Extreme weather tough on U.S. transport system
Wild weather is taking a toll on roads, airports, railways and transit systems across the country.That’s leaving states and cities searching for ways to brace for more catastrophes like Superstorm Sandy that are straining the nation’s transportation lifelines beyond what their builders imagined.Despite their concerns about intense rain, historic floods and record heat waves, some transportation planners find it too politically sensitive to say aloud a source of their weather worries: climate cha
TechnologyNov. 25, 2012
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Korean team develops new way of generating stem cells
Korean scientists have discovered a new molecular compound that could increase the efficiency of human adult cell reprogramming to induced pluripotent stem cells.The low-molecule Reprogramming Stimulating Compound 133, or RSC133, adds to the list of non-viral vectors that are crucial to advancing the biotechnology and production of iPS cells.Dr. Cho Yee-sook and Dr. Lee Jung-woon of the Korea Research Institute of Bioscience & Biotechnology led a team of researchers for this latest discovery tha
TechnologyNov. 25, 2012
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Global sales of Samsung’s Galaxy Note 2 top 5m
South Korean tech giant Samsung Electronics Co. said Sunday worldwide sales of its Galaxy Note 2 have exceeded 5 million units since its rollout here two months ago. Shipments of the 5.5-inch phablet, a hybrid of a smartphone and a tablet PC, achieved the landmark in two months after it was first released in South Korea in late September, the company said in a statement.The Galaxy Note 2 recorded a much faster sales increase than the previous Galaxy Note model, which saw global sales top 5 milli
Nov. 25, 2012
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Daewoo International bags $1.06b deal from Algeria
Daewoo International Corp., a leading South Korean trading company, said Sunday a consortium led by the company has clinched a $1.06 billion contract to build a cogeneration power plant in Algeria.The turnkey contract calls for Daewoo International, Hyundai Engineering & Construction Co. and Hyundai Engineering Co. to build the 1,200-megawatt power plant in an area some 230 kilometers southeast of Algiers, the capital of the African country. It will take 39 months to complete the cogeneration po
Nov. 25, 2012
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Apple adds more Samsung devices to patent suit
Apple Inc. filed another lawsuit against Samsung Electronics Co. for patent infringement on the South Korean tech titan’s six latest mobile products, amid a series of ongoing legal tug-of-war between the two global IT companies, a German patent blog said Sunday. The Cupertino, California-based U.S. firm sued the Korea company on Friday at the U.S. Northern District Court of California for violating its patents with four smartphone models ― Galaxy Note 2, Galaxy S3 Mini, Galaxy S3 and Rugby Pro ―
MobilityNov. 25, 2012
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Shares to stay stagnant on delayed fiscal cliff talks
The South Korean stock market is likely to remain stagnant this week as investors are expected to take a wait-and-see stance on the U.S. fiscal cliff issue, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,911.33 this week, up 2.1 percent from the previous week.Earlier last week, the KOSPI moved up as U.S. lawmakers and President Barack Obama successfully began talks on the U.S. fiscal issue, while rising hopes for financial aid to Greece also gave a boost to
Nov. 25, 2012
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Korea’s auto industry feared to retreat next year: report
South Korea’s automobile industry is feared to fare worse next year because of the global economic slump, while its IT, machinery and shipping sectors will likely perk up, a report said Sunday. Automakers are expected to enter a contractionary phase as worldwide demand will likely falter on the protracted economic downturn and global competition get fiercer, according to the report by the Hyundai Economic Research Institute. The report said although the U.S. Big Three ― Ford, Chrysler and Genera
Nov. 25, 2012
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Finance chiefs of Korea, Japan share need to resume FTA talks
Finance ministers of South Korea and Japan agreed Saturday to continue efforts to resume suspended free trade talks between the two countries, both sides said.South Korean Finance Minister Bahk Jae-wan and his Japanese counterpart, Koriki Jojima, met in Seoul to discuss matters of mutual concern, including the suspended FTA talks.“We have reconfirmed the importance of continued efforts to resume South Korea-Japan Free Trade Agree talks,” the two sides said in a joint press release. “Each promise
Nov. 25, 2012
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Land Ministry starts relocation to Sejong City
The Ministry of Land, Transport, Marine Affairs started to move to Sejong City, South Chungcheong Province, on Friday, becoming the first government organization from Gwacheon Government Complex to pack up for the new administrative city. The ministry’s move is part of the government’s plan to relocate economic-related ministries and their affiliates to Sejong City for balanced regional development.The ministry said it would complete the relocation of its headquarters in Gwacheon and three affil
Nov. 25, 2012