Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Samsung’s smartphone shipments forecast to top 60m in Q4
HONG KONG (Yonhap News) ― Samsung Electronics Co.’s smartphone shipments will likely exceed 60 million units in the fourth quarter of this year, proving its prowess in the world’s mobile phone market despite its ongoing patent war with Apple Inc., an investment bank said Wednesday.UBS estimated that Samsung Electronics will sell 61.5 million units of smartphones in the October-December period, up 5 percent from an estimated 58 million in the previous quarter. The number could reach as high as 63
TechnologyNov. 21, 2012
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SK Hynix profits from Samsung-Apple spat
SK Hynix, the world’s No. 2 memory chip maker, appears to be enjoying its heyday on the back of a legal battle between Samsung Electronics and Apple Inc., as the U.S.-based company attempts to diversify its suppliers. Along with Samsung and LG Display, SK Hynix ranks as one of Korea’s biggest parts suppliers to Apple.SK Hynix supplies mobile dynamic random access memory (DRAM) and NAND flash memory chips for Apple’s wireless devices such as the iPhone 5 and iPad Mini. Under pressure in its paten
IndustryNov. 21, 2012
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Samsung pulls controversial ‘puppy abuse’ video
IT giant Samsung Electronics is in hot water after it depicted people beating puppy-shaped computers in a controversial online video clip.Samsung posted a promotional video titled “Don’t Give Up On Puppy Love” on YouTube for its latest solid-state storage “840” series.The video portrayed computers as puppies with imaginary ears, eyes and mouth. In the video, owners of these “puppy” computers beat them with a shoe, throw them off a cliff or shoot them with a bow and arrow when the computers get s
TechnologyNov. 21, 2012
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Poll: Entrepreneurs may have better health
U.S. entrepreneurs are less likely to report chronic health problems such as high cholesterol, high blood pressure or diabetes, a survey indicates. The findings are based on more than 273,175 interviews conducted Jan. 2, 2011, to Sept. 30, 2012, with U.S. adults as a part of the Gallup-Healthways Well-Being Index. Gallup classified 6,896 of these respondents as entrepreneurs if they self-identified themselves as both self-employed and as a business owner.Entrepreneurs report better health habits
Nov. 21, 2012
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SSD is expected to be more popular next year
The next-generation storage device, solid-state drive, or SSD, is expected to become more popular next year thanks to its rapidly falling price, a report said.The report by iSuppli, a U.S.-based market researcher, said the global SSD sales volume in the third quarter of 2012 reached 15.5 million units, a 137 percent increase from the same period last year.SSDs have better stability and speed compared to conventional hard disk drives. Since these specifications are most important for storage devi
TechnologyNov. 21, 2012
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Facebook users going to secure connections
Facebook says it is moving all users to secure HTTPS browser connections to help block attacks over WiFi networks.HTTPS, a secure version of the Hypertext Transfer Protocol with which browsers connect with websites, encrypts data as it is transferred, making it harder to see for potential attackers on the same wireless network.First adopted by financial institutions and on-line shopping sites, HTTPS is becoming widespread among Web services, PC World reported.Facebook offered HTTPS as an option
TechnologyNov. 21, 2012
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HP says acquired company lied about finances
NEW YORK (AP) -- Hewlett-Packard Co. said Tuesday that a British company it bought for $10 billion last year lied about its finances, resulting in a massive write-down of the value of the business.HP is avoiding calling it a fraud, but it said there were ``serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation PLC.''HP is taking an $8.8 billion charge in its latest quarter to align the accounting value of Autonomy with its real value. It sai
IndustryNov. 20, 2012
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AIDS recedes as home-grown funding exceeds international aid
Spending on AIDS by the countries hit hardest by the disease exceeded foreign aid for the first time last year, as developing nations lessened their dependence on rich countries that curbed donations to battle deficits.Low- and middle-income countries have doubled spending on AIDS to $8.6 billion since 2005, compared with international funding for the disease that stalled at $8.2 billion last year, the Joint United Nations Programme on HIV/AIDS, or UNAIDS, said in its annual report on the epidem
TechnologyNov. 20, 2012
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Donga Pharmaceutical under probe for slush fund
The Seoul prosecution service said Tuesday that it was investigating allegations that South Korea's largest drug manufacturer, Donga Pharmaceutical Co., has created slush funds by buying and selling gift cards.Donga Pharmaceutical is suspected of buying tens of million dollars of gift cards by corporate credit cards and resold them to secure cash, prosecution officials said.A gift card is exchanged for cash at a discount at the local black markets.Prosecutors said they were trying to find out th
IndustryNov. 20, 2012
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Samsung gets second bite at Apple ITC case
Samsung Electronics has won another chance to convince a U.S. trade agency that Apple Inc.’s flagship products such as the iPhone 4S and iPad 2 have infringed the firm’s patents.The U.S. International Trade Commission announced on Monday that it will review “in its entirety” its initial determination by Judge James Gildea in September that Apple violated none of the four Samsung patents in question.“Having examined the record of this investigation, including the initial determination, the petiti
IndustryNov. 20, 2012
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Daewoo wins $239.9 mln deal from Saudi Arabia
Daewoo Engineering & Construction Co., a major South Korean shipbuilder, said Tuesday that it has won a $239.9 million deal to build industrial tank farms in Saudi Arabia.Under the deal with Sadara Chemical Co., Daewoo E&C will construct chemical storage tanks and other facilities for Saudi Arabia's new tank farms at the Jubail petrochemicals complex on the Persian Gulf coast, the company said in a filing.Sadara Chemical is a joint venture between Saudi Aramco and Dow Chemical Co. of the United
IndustryNov. 20, 2012
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Shares gain on optimism over U.S. fiscal cliff
South Korean stocks closed 0.64 percent higher Tuesday on abated concerns over the U.S. fiscal cliff and improving economic data, analysts said. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 12.08 points to finish at 1,890.18. Trading volume was light at 367.0 million shares worth 3.62 trillion won ($3.34 billion) with advancers outnumbering decliners 481 to 330. “Political reassurance gave a boost to investor sentiment, though it’s likel
Nov. 20, 2012
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Korean economy to grow over 3% next year: JPMorgan
HONG KONG (Yonhap News) ― The South Korean economy will likely grow more than 3 percent in 2013 from this year amid improving external and internal macro environments, JPMorgan said Tuesday.The U.S. investment bank predicted South Korea’s real gross domestic product will recover to the 3 percent level next year, compared to an estimated 2.3 percent in 2012, with exports to rise and fiscal policy to turn more supportive.“On a quarterly basis, real GDP growth has slowed for three straight quarters
Nov. 20, 2012
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Seoul to develop technology to store spent nuke fuel rods
Korea will work to develop indigenous technologies needed to store or process spent nuclear fuel rods, along with its first permanent facility to store spent fuel, the government said Tuesday.The move comes as the Korea Atomic Energy Promotion Council recommended the government start looking for candidate sites for a spent fuel storage facility at least from 2016 for completion of construction in 2024.Currently, spent fuel rods are stored in temporary storage facilities at the country’s nuclear
Nov. 20, 2012
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New European Chamber of Commerce opens
A new European Chamber of Commerce in Korea opened in Seoul on Tuesday upon government approval.Promoters of the new organization said the Ministry of Knowledge Economy informed the chamber of its permission on Monday.The ECCK replaces the European Union Chamber of Commerce in Korea, known as EUCCK, which shut down in September after being slapped with fines and overdue taxes worth 4.5 billion won ($4.2 million).ECCK members said the new organization’s basic role of developing industrial relatio
Nov. 20, 2012
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Engel’s coefficient hits 11-year high
The economic slowdown has decelerated the growth of consumption, but higher expenditure on food and beverages has resulted in the highest Engel’s coefficient in 11 years.The Bank of Korea said Tuesday that household consumption reached 324 trillion won ($297 billion) in nominal terms in the first six months of 2012, up just 2 percent from a year earlier.In contrast, spending on food and non-alcoholic beverages climbed 6.3 percent to 44 trillion won over the corresponding period.As a result, the
IndustryNov. 20, 2012
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Korea toughens car mileage regulations
The government has decided to reveal the official gas mileage estimates of all vehicles from next year and include a driving resistance test in the individual testing procedures of carmakers, the Ministry of Knowledge Economy said Tuesday. The ministry unveiled new toughened regulations to better control the discrepancy in the official and actual fuel economy of vehicles marketed here amid confusion following Hyundai Motor Group’s mileage overstatement scandal in the U.S. and Canada. The governm
IndustryNov. 20, 2012
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Kakao seeks 1 million partners with new apps
Mobile communication venture firm Kakao launched three new mobile service platforms on Tuesday, aiming to secure at least 1 million individual and group partners in three years. Before the launch, Kakao had 31 mobile game partners and 260-some “plus friend” partner companies. In unveiling the new applications ― Kakao Page, Story Plus and Chatting Plus ― the mobile venture tech firm is poised to convert itself from customer-centered social servant to a powerful marketing-booster to its business p
TechnologyNov. 20, 2012
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Korea projected to benefit most from three-way FTA
South Korea, China and Japan on Tuesday declared the kickoff of the official negotiations for a trilateral free trade agreement early next year.In Phnom Penh, commerce ministers from the three Asian countries announced the launch of FTA talks, which would create one of the world’s largest economic blocs.Economists say the deal would be comparable to the European Union and the North American Free Trade Agreement as the collective gross domestic product of the three countries will reach $12 trilli
Nov. 20, 2012
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Retail rent prices rise in world’s expensive shopping districts
Although a slower global economy and continued uncertainty surround the eurozone, global prime retail rents were generally resilient over the year to June 2012. According to C&W’s annual report titled “Main Streets Across the World 2012,” an expansion of 4.5 percent provided for a largely unchanged and positive growth picture, with rents rising in 147 of the 326 locations surveyed, but declining in 49.Rental increases were again driven by the strong performance in the Americas and Asia-Pacific;
Nov. 20, 2012