Most Popular
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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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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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Life found buried beneath Antarctic ice
U.S. scientists say they found metabolically active bacteria in the brine of an Antarctic lake sealed for thousands of years under more than 65 feet of ice.Researchers at the University of Illinois at Chicago, writing in the Proceedings of the National Academy of Sciences, said the finding sheds light on the limits of life in extreme environments.The brine has been isolated from the surface environment, and from any external sources of energy, for at least 2,800 years, they said."This provides u
TechnologyNov. 28, 2012
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S. Korea logs current account surplus for 9th month in Oct.
South Korea posted a current account surplus for the ninth straight month in October as exports gained ground, weathering the global slowdown and the local currency's gain, the central bank said Wednesday.The current account surplus reached US$5.82 billion in October, down from a revised $5.91 billion in the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.In the first 10 months of this year, the cumulative current account su
Nov. 28, 2012
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Korea ranks 9th in national brand value
Korea’s national brand value was worth $1.6 trillion, ranking ninth among 39 countries worldwide, a local think tank found Tuesday. The Institute for Industrial Policy Studies evaluated the brand competitiveness of countries, cities and companies based on surveys and trade volume. The United States topped the rankings with its brand value worth $12.2 trillion, followed by Germany with $7.4 trillion and Japan with $3.4 trillion. Over the past three years, Asia-Pacific countries showed the highest
IndustryNov. 27, 2012
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Korea to invest W579b in genomics research
The Korean government plans to invest 579 billion won ($534 million) in genomics research over the next eight years to create and support related industries in the field.Five ministries will be participating in the project ― the Ministry of Education, Science and Technology; Ministry of Health and Welfare; Ministry of Knowledge Economy; Ministry of Land, Transport and Maritime Affairs; and Ministry for Agriculture, Forestry and Fisheries.The plan comes as Korea has been lagging behind other adva
TechnologyNov. 27, 2012
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OECD: Korea to grow 3.1% in 2013
The Organization for Economic Cooperation and Development predicted a gradual pickup for the Korean economy on the back of improved exports next year, forecasting a growth rate of 3.1 percent.Korea was one of six nations the OECD predicted to register a rate of over 3 percent. For 2014, the outlook was even higher at 4.4 percent. Overseas shipments will rise as global trade gains momentum, the OECD said in an outlook report on Tuesday. The recovery in the global economy, however, would be “hesit
IndustryNov. 27, 2012
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Ericsson sues Samsung in U.S. for patent infringement
STOCKHOLM (AFP) ― Swedish telecommunications equipment maker Ericsson said Tuesday that it was suing South Korean rival Samsung in a U.S. court for violating patents.“Ericsson has today filed a lawsuit in the United States against Samsung for infringing its patents, after nearly two years of negotiations failed to reach an agreement,” a statement said.“The dispute concerns both Ericsson’s patented technology that is essential to several telecommunications and networking standards used by Samsung
TechnologyNov. 27, 2012
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Apple, LG face U.S. trial over Alcatel-Lucent patents
Apple Inc. and LG Electronics Inc. are set to face trial over claims by an Alcatel-Lucent SA unit that they infringed patents for electronic devices including phones and computers. The jury trial, scheduled to begin in federal court in San Diego, stems from a 2010 lawsuit by the Paris-based company’s Multimedia Patent Trust accusing Apple and LG Electronics of copying video-compression technology that allows data to be sent more efficiently over communications media, including the Internet and s
IndustryNov. 27, 2012
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Exports of Korean food rise on Korean Wave
Exports of Korean traditional foods of kimchi and red pepper paste rose sharply over the past three years on the back of the Korean wave, industry and customs data showed Tuesday.According to the data, exports of kimchi, a spicy fermented dish usually made with cabbage or radish, came to $88.82 million in the January-October period.Overall exports of kimchi for all of 2012 are expected to reach $107 million, up from $104.6 million last year, the data indicated.Outbound shipments of kimchi have r
Nov. 27, 2012
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Shares up on Greek debt deal
South Korean stocks closed 0.87 percent higher on Tuesday as eurozone agreements to cut Greek debts and aid the debt-ridden country helped ease investor jitters, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 16.69 points to 1,925.2. Trading volume was moderate at 572.1 million shares worth 4.49 trillion won ($4.14 billion), with decliners outnumbering gainers 425 to 392.“The recent development in the Greece situation, cou
Nov. 27, 2012
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Korea’s total debt reaches 2.3 times its GDP: regulator
South Korea’s total debt has ballooned to more than double the value of its gross domestic product, the financial regulator said Tuesday, calling for all-out efforts to rein in corporate and household debt.The country’s aggregate debt owed by the government, companies and households stood at 234 percent of its GDP as of the end of June, according to data by the Financial Supervisory Service. The debt-to-GDP ratio came in at 152 percent in 2000 for Asia’s fourth-largest economy, before jumping to
Nov. 27, 2012
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Hyundai-Kia third in market cap
Hyundai Motor and its affiliate Kia Motors are together the world’s third-biggest carmaker in terms of market capitalization.According to industry data, the two companies’ combined market capitalization reached 70.2 trillion won ($65 billion) ― Hyundai with about 47.1 trillion won and Kia with 23 trillion won ― as of Nov. 19.Their value on the global stock market could be regarded as No. 3 out of 12 major automakers, research analysts said.Toyota Motor topped the list with 155.5 trillion won in
IndustryNov. 27, 2012
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City protests Korean Air’s KAI takeover
Korean Air faces a bumpy road to take over Korean Aerospace Industries as a local city government in South Gyeongsang Province officially declared that it would oppose the sale of KAI to the nation’s flagship carrier. “Korean Air’s recent investment plan to invest in Busan deals a blow to Sacheon City’s continued efforts to make the city a mecca of the nation’s aerospace industry,” Sacheon Mayor Chung Man-gyu said in a press briefing on Monday. “We are not going to be deceived by any sweet talk
Nov. 27, 2012
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2013 top six issues for Korean companies
In 2013, persistent low growth in the global economy and new governments in major countries will shape the business environment. Korean companies will have to be aware of three major characteristics of the situation ahead. First, the sluggish prospects will last through the year, prolonging the worldwide L-shaped slowdown. In other words, businesses will need to prepare for a difficult, long haul. Second, the weak growth will not spare any region or industry. The currency crisis at the end of th
Nov. 27, 2012
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Ewha streets no longer ‘it’ shopping district
The streets and alleys of Ewha Womans University used to be filled with youngsters on the lookout for a bargain on new clothes and new shoes or just browsing with friends. The shoppers usually ranged from preteens to college students, mostly girls, making the area so popular that “let’s go to Ewha” equated “let’s go shopping.” That was 10 years ago. The same streets have taken on a much different look over the years, and the changes are not all good.“I’ve been here for a long time, for more than
IndustryNov. 27, 2012
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‘Green growth plays important role in sustainable future’
SINGAPORE ― Green growth, South Korea’s key growth initiative, will play an important role in developing sustainable development goals for Asian and European countries, said a high-ranking official from the Asia-Europe Foundation, under the Asia-Europe Meeting. “Key priority of the Asia-Europe Environment Forum, or ENVforum, of ASEF will be placed on sustainable development goals and green growth together for the next three years,” ASEF director for intellectual exchange Thierry Schwarz said in
Nov. 27, 2012
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Index measures sustainable development’s progress
SINGAPORE ― Studies on eco-innovation have flooded in since the 1990s, when it emerged as one of the key tools to achieve sustainable development, but progress in eco-innovation has been limited due to a lack of measurement. This is why the Seoul-based ASEM SMEs Eco-Innovation Center, or ASEIC, whose key mission is to promote eco-innovation in Asia and Europe, invested in developing an index to measure processes in eco-innovation this year. The ASEIC was established in June 2011 following the en
Nov. 27, 2012
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Experts discuss sustainable development
Asian and European leaders reaffirmed their commitment to achieving sustainable development goals, and discussed the measurement of SDGs in a recent Asia-Europe Environment Forum under the Asia-Europe Foundation, or ASEF. “ENVforum” was held in the ASEF headquarters in Singapore on Nov. 21-22. SDGs are the new framework for development that was proposed in the United Nations Conference on Sustainable Development, dubbed as Rio+20, which was held in Rio de Janeiro, Brazil, on June 20-22 this year
Nov. 27, 2012
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U.K. woman unaware of pregnancy gives birth
A British woman oblivious of her pregnancy gave birth to a child when she visited a hospital for back pain, local media reported Monday.Kayleigh Renwick, a 24-year-old nurse from County Durham, was just hoping to relieve her backache when she visited a hospital in May this year. She had initially suspected a kidney infection as the source of her pain.Instead she found out -- for the very first time -- that she was carrying a child. Shocked, Renwick visited the University Hospital of North Durha
TechnologyNov. 27, 2012
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S. Korea to further tighten banks’ handling of currency forwards
South Korea said Tuesday it will lower the ceiling of foreign exchange forward positions held by local and foreign banks by 25 percent in a bid to curb the volatility of cross-border capital flows.The move will restrict local branches of foreign banks from holding currency forward deals to 150 percent of their equity capital from the current 200 percent. The ceiling for domestic banks will be lowered to 30 percent from 40 percent, the government said. The move will fully take effect starting on
Nov. 27, 2012
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Seoul shares start higher on Greek bailout settlement
South Korean stocks opened higher Tuesday on the settlement of the Greece bailout deal, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 5.80 points, or 0.3 percent, to trade at 1,914.31 in the first 15 minutes of trading.Tech blue chips drove up the shares, with market behemoth Samsung Electronics increasing 0.71 percent, while LG Electronics gained 1.05 percent. Top steelmaker POSCO added 0.47 percent.Carmakers also traded higher, with No.1 player Hyundai Motor ris
Nov. 27, 2012