Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Lee Jong-sup resigns as envoy to Australia
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Official campaigning kicks off for April 10 elections
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Yellow dust engulfs S. Korea, advisory alert issued
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Government injects W100b into Eximbank
The government said Monday that it has injected 100 billion won ($89.6 million) into the Export-Import Bank of Korea to help the policy lender secure better trade financing capacity for exporters.The capital increase was made in the form of stock contribution as the government used about 9.55 million shares in the state-run Korea Express Corp., according to the Finance Ministry.The move is aimed at providing more financing capacity for the bank so that it can help strong but liquidity-strapped e
Sept. 17, 2012
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Retail investors report dismal investment return
Korean retail investors suffered a massive loss in their stock investment this year lagging behind robust profits boasted by institutional and foreign investors due to information disparity, data showed Monday.Individual investors reported a net loss of 18.15 percent for their top 10 mostly purchased shares through Sept. 14 this year, according to the data compiled by the main bourse operator Korea Exchange.On the other hand, foreign investors gained 4.6 percent from their top 10 most buying sha
Sept. 17, 2012
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Shares end 0.26 pct lower on profit-taking
South Korean stocks fell 0.26 percent on Monday as investors took profits from recent gains powered by the U.S. bond-buying program, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index declined 5.23 points to 2,002.35, the first loss in four sessions.Trading volume was heavy at 871.3 billion shares worth 6.5 trillion won ($5.83 billion). But gainers outnumbered losers 458 to 359.“Investors took a breather after the previous session‘s ral
Sept. 17, 2012
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Samsung heir apparent takes on bigger role
Lee Jay-yong meets with Renault CEO Carlos GhosnSamsung heir apparent Lee Jay-yong is seemingly taking on a bigger role in management, actively engaging in talks with world industrial leaders.Samsung officials confirmed on Monday that the chief operating officer of Samsung Electronics, who is also the only son of Samsung Electronics’ chairman Lee Kun-hee, met with Carlos Ghosn, the chairman and chief executive of the Renault-Nissan Alliance.Although the company officials could not confirm the de
IndustrySept. 17, 2012
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Kia’s K3 hints at fierce race in compact car market
Kia Motors unveiled its new compact K3 on Monday, paving the way for fiercer competition in the nation’s small sedan market where Hyundai Motor’s Avante and Renault Samsung Motors’ SM3 have been dominant players. Kia revealed its annual sales target of 55,000 units during a press conference held at Alpensia Resort in PyeongChang, Gangwon Province, with some 200 company officials and reporters in attendance. “Kia cars are creating a sensation in Korea and overseas markets with their unique desig
IndustrySept. 17, 2012
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FTC chairman warns big firms on irregularities
Antitrust regulator poised to take stern action over unfair practices against suppliersThe nation’s top antitrust regulator said on Monday that it will weed out irregularities at large companies.The Fair Trade Commission said the warning will be given to business leaders when FTC chairman Kim Dong-soo meets them on Tuesday. “The meeting between FTC chairman Kim and the chief executives is designed to prevent big firms from bullying subcontractors,” the FTC said in a statement.Participants will l
IndustrySept. 17, 2012
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KT plans content development fund
KT, Korea’s second-largest mobile carrier, said Monday that it plans to set up a fund to invest in the development of content such as animation, games and music by small and medium-sized firms.Speaking at a news conference, KT chairman Lee Suk-chae said the company will allocate around 100 billion won ($89 million) to the fund, which will be established by the end of this year and be operated for content development over the next three years.The company plans to allocate some 20 billion won of i
Sept. 17, 2012
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FSS promotes Seoul as financial hub in H.K.
Financial Hub Korea, a unit of the Financial Supervisory Service, jointly hosted the 2012 Financial Hub Seoul IR with the Seoul Metropolitan Government in Hong Kong last week. Over 200 executives from about 70 global finance institutions attended the event aimed at promoting Seoul’s bid to attract foreign financial companies and become a leading financial hub, officials said.Participants included John McCormick, chairman of Royal Bank of Scotland Group, Asia Pacific; Wong David See Hong, deputy
Sept. 17, 2012
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‘Reliability sustains Miele brand’
Premium home appliance maker hopes to win Korean consumers for 100 years, CEO saysAnyone in Korea who has lived in Germany or other parts of Europe before uses it.Rhie Won-bok, who studied in Germany and is known for his comic books “Far Countries, Neighboring Countries,” uses it. Cha bum-kun, who played soccer in Germany and is a regular World Cup newscaster, uses it. Yoon Boo-keun, CEO of Samsung Electronics’ consumer electronics division, praised it during his visit to Germany’s IFA electroni
Sept. 17, 2012
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KDI cuts Korea’s growth estimate to 2.5 percent
South Korea’s economy is expected to grow 2.5 percent this year, a state-run think tank said Monday, slashing its growth outlook sharply on slowing exports growth affected by heightened global uncertainty.The latest growth projection is far lower than the 3.6 percent expansion that the Korea Development Institute forecast in May. It is also much lower than the government’s 3.3 percent growth estimate for this year. “We expect that the economic growth rate will fall to 2.5 percent this year as bo
Sept. 17, 2012
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For S. Korean men, makeup a foundation for success
Cho Won-hyuk stands in front of his bedroom mirror and spreads dollops of yellow-brown makeup over his forehead, nose, chin and cheeks until his skin is flawless. Then he goes to work with a black pencil, highlighting his eyebrows until they're thicker, bolder. “Having a clean, neat face makes you look sophisticated and creates an image that you can handle yourself well,” the 24-year-old college s
IndustrySept. 17, 2012
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French doctors blast drug companies
Two French doctors contend in a new book that half of all drugs prescribed in the country are useless at best and dangerous at worst.Professor Philippe Even, director of the Necker Institute, and Bernard Debre, a physician and member of Parliament, maintain the French health service could save as much as 10 billion euros ($13 billion) annually if dozens of drugs were no longer prescribed, The Guar
TechnologySept. 17, 2012
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Showing the goal amount motivates saving
A U.S. psychologist says people don‘t save because they don’t do the math to calculate the result of their savings -- if they did, it would motivate them. Craig McKenzie, a cognitive psychologist with the Rady School of Management at the University of California, San Diego, said his experiment with a simple intervention demonstrated the enormous benefits of earning compound interest motivated his
Sept. 17, 2012
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Believers in luck = unhealthier lifestyle
People who have a greater faith in luck or fate are more likely to live an unhealthy lifestyle, Australian researchers say.Professor Deborah Cobb-Clark, director of the Melbourne Institute of Applied Economic and Social Research, also found people who said they believed their life can be changed by their own actions ate healthier food, exercised more, smoked less and avoided binge drinking.“Our research shows a direct link between the type of personality a person has and a healthy lifestyle,” Co
TechnologySept. 17, 2012
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Seoul shares open higher on U.S. gains
South Korean stocks opened higher on Monday as investor sentiment got a boost from the U.S. Fed's latest stimulus measure, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed0.85 points, or 0.04 percent, to 2008.43 in the first 15 minutes of trading.Tech blue chips drove up the shares, with LG Electronics gaining 1.59 percent and SK hynix, the world No. 2 memory chipmake
Sept. 17, 2012
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People who read labels weigh less
Women who read food labels weigh nearly 9 pounds less than women who didn‘t read labels, researcher in Spain said.Lead author Maria Loureiro of the University of Santiago de Compostela and colleagues at the University of Tennessee, the University of Arkansas and the Norwegian Institute for Agricultural Finance Research used data from the annual National Health Interview Survey conducted by the U.S. Centers for Disease Control and Prevention.Some 25,640 observations were collected on health, eati
TechnologySept. 17, 2012
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Re-launching pet supply firm offer special discount
Online pet supply store Monami Pet is offering a special discount in September to celebrate the brand’s re-launching and the inauguration of its new CEO, Song Ha-kyung, company officials said on Sunday.Starting Sept. 1, the online pet supply store has been selling about 5,000 types of pet supplies, including best-selling pet feed brand ANF and Natura at prices lower than at competing retailers, the officials said.In addition, Monami Pet has been promoting other events such as free testing events
BusinessSept. 16, 2012
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Scientists develop high stability, sensitivity disease probe
A local team of scientists have developed a new method for detecting particles specific to particular conditions, opening new possibilities for early diagnosis.With many chronic conditions, early detection is crucial for effective treatment. Even with incurable conditions such as acquired immunodeficiency syndrome, or AIDS, entering a treatment regime early on can extend the patient’s life expectancy for as much as several decades. As different conditions can have similar effects on the body i
TechnologySept. 16, 2012
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Agro-fisheries CEOs emphasize exports
About 20 CEOs leading the National Agro Food and Beverage Cluster Association under the Ministry of Food, Agriculture, Forestry and Fisheries held their second CEO Forum last week in southern Seoul to discuss ways to boost the nation’s agriculture and fisheries industry. Lee Kyung-soo, head of the association as well as president of Jebba Food & Beverage Corp., a guild of bokbunja growers in Gochang, North Jeolla Province, stressed in the meeting that CEOs in the agriculture and fisheries indust
IndustrySept. 16, 2012
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‘Protectionism’ concerns rise after patent disputes between Samsung, Apple
ITC initially rules Apple did not infringe Samsung patentsProtectionism is rising as a hot topic following the U.S. International Trade Commission’s initial ruling last week that Apple did not violate four of Samsung Electronics’ patents.Edward Gildea, administrative law judge at the ITC, said in a notice posted on its website that the Cupertino-based Apple’s gadgets ― such as the iPhone, iPad and iPod ― did not infringe on Samsung’s intellectual properties earlier on Saturday, local time.The ev
IndustrySept. 16, 2012