Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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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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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Samsung chief Lee’s stock value tops W10tr
The chief of Samsung Electronics Co., South Korea’s top market cap, is the wealthiest share holder in South Korea with his value of stock holdings soaring 22 percent through Friday this year, data showed Tuesday.Chairman Lee Kun-hee held 10.8 trillion won ($9.7 billion) worth of shares as of Friday, up 1.97 trillion won from Jan.2, according to the data compiled by Chaebul.com, which provides information on conglomerates.The business mogul’s stock holdings include a 3.38 percent stake in Samsung
Oct. 2, 2012
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Youth start-up programs young, but blooming
Public and private sectors boost entrepreneurial support to tackle nation’s unemployment problemIn an effort to tackle youth unemployment and boost young people’s enthusiasm for starting their own businesses in a conglomerate-dominated economy, the public and private sectors alike are boosting their entrepreneurship programs for ambitious new university graduates.Chung Ju-yung Entrepreneurship Competition The latest of these programs is the Asan Nanum Foundation’s Chung Ju-yung Entrepreneurship
Oct. 2, 2012
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Korean Air allows only one free luggage item in economy
The nation’s biggest air carrier will allow only one free piece of luggage to be checked in for economy class passengers on international flights, starting Tuesday. Those taking flights to the U.S. are excluded. Korean Air announced on Tuesday that it will adapt the Piece System which limits the number of luggage items instead of weight, following the international trend. Under the new system, economy class passengers will be allowed to check in only one piece of luggage at a maximum weight of 2
IndustryOct. 2, 2012
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Samsung motions to add iPhone 5 to patent case
South Korea's Samsung Electronics Co. says it has filed a motion with a U.S. court to add Apple's iPhone 5 to their ongoing patent battle.Samsung says it filed the motion Monday with the California court, alleging that Apple's new phone infringes on eight of its patents.The two companies are locked in a struggle for supremacy in the global smartphone market, leading to legal cases in courts across
TechnologyOct. 2, 2012
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New Zealand produces allergy-free milk
Researchers in New Zealand say they have genetically engineered a cow to produce milk free of a protein that causes allergies in children.The study, published in Proceedings of the National Academy of Sciences, used a technique known as RNA interference to block the production of the protein beta-lactoglobulin, which is produced in cows but not found in human milk.Study co-author Dr. Stefan Wagner
TechnologyOct. 2, 2012
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Plant scientists create ‘see-through’ soil
Researchers in Scotland say they have developed a see-through soil that will enable scientists to study roots in detail for the first time.The underground world of plant roots is called the rhizosphere and scientists at the University of Abertay Dundee and the James Hutton institute, writing in the journal PLos ONE, say creation of the new transparent soil marks a research milestone that will hav
TechnologyOct. 2, 2012
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S. Korea's consumer prices grow 2 percent in Sept.
South Korea's consumer prices grew at the fastest pace in three months in September mainly due to increased prices of farm products, a report showed Tuesday.The country's consumer price index rose 2 percent from a year earlier in September, quickening from the 1.2 percent gain tallied in the previous month, according to the report by Statistics Korea.The index also advanced 0.7 percent from a mont
Oct. 2, 2012
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Korea to hold trade event targeting Chinese market
Two South Korean trade agencies said Monday that they will jointly hold an event later this month aimed at providing local companies with a chance to meet with Chinese buyers and help them advance into the world's largest consumer market.The "2012 China Business Plaza" will be held by the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea International Trade Association in Seoul on Oct.
IndustryOct. 1, 2012
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Nation's first mixture of pharmacy/convenience store opens
South Korea's leading convenience chain said Monday it has opened the country's first-ever drug store-type shops that incorporate pharmacies into convenience stores.The new type of stores was set up after the South Korean government passed legislation in May to allow sales of some non-prescription drugs at convenience stores and supermarkets.Two CU stores run by BGF Retail Co. have opened in Chang
IndustryOct. 1, 2012
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Trading accounts down amid stagnant market situations
The number of "active" stock trading accounts in South Korea declined in recent weeks amid relatively stagnant market situations, a trade association said Monday.Stock trading accounts -- accounts holding more than 100,000 won ($90) and being used at least once in the past six months -- totaled 19.9 million last Thursday, according to the Korea Financial Investment Association.The number of active
Oct. 1, 2012
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Korea's trade surplus reaches $3.15 bln in Sept.
South Korea's trade surplus widened from a year earlier last month as its imports shrank at a faster rate than exports, the government said Monday.The country's trade surplus reached an estimated $3.15 billion in September, compared with a $1.6 billion surplus the same month last year, according to the Ministry of Knowledge Economy.The figure also marks a growth from $2.04 billion in August.Export
Oct. 1, 2012
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Samsung TVs take up half of market share in Middle East, Africa
Half of the flat panel televisions (TV) sold in the Middle East and Africa were made by Samsung Electronics Co., reflecting its strong market presence in the region, a survey showed Sunday.The market survey, released by the world's top flat screen maker, showed that its flat screen TV sales eclipsed other competitors to account for a 49 percent share of the markets in the second quarter."Sales of
IndustrySept. 30, 2012
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Growth of household debts slows down for 11th month
The growth of household debt in South Korea lost steam for a 11th consecutive month as of July from a year earlier, largely due to government efforts to curb its increase, central bank data showed Sunday.Household loans extended by depository financial firms grew at a rate as low as 4.6 percent at the end of July from a year earlier, compared with the 8.6 percent tallied in the previous year, acco
Sept. 30, 2012
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Korean scientists identify a source of neural disorders
A group of South Korean scientists have discovered what could be a significant source of neurological disorders, such as depression, and may lead to the development of better treatment for such illnesses, the science ministry said Saturday.The team led by Lee Chang-joon, a researcher from the Korea Institute of Science & Technology, confirmed for the first time in the world that non-neuronal cell
TechnologySept. 29, 2012
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Instagram overtakes Twitter among mobile users
Photo sharing app Instagram has overtaken Twitter for the first time among U.S. smartphone users, according to data from comScore.In August, Instagram received an average of 7.3 million daily visitors, while Twitter attracted 6.9 million users, the website said.ComScore’s data reflects usage among U.S. smartphone owners aged 18 and older accessing the service on a device running iOS, Android, or RIM operating systems via a mobile web browser or app.The data also showed that Instagram visitors sp
TechnologySept. 28, 2012
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STX Offshore inks W480b oil storage facility deal
STX Offshore & Shipbuilding Co., a South Korean shipbuilder, said Friday that it has signed a 480 billion ($430 million) contract to build an offshore oil storage facility.Under the deal with a North African oil firm, the South Korean shipbuilder will construct the so-called floating storage offloading unit and deliver the unit during the first half of 2015, the company said in a statement. STX Offshore did not reveal the name of the buyer.The unit, measuring 324 meters long and 51 meters wide,
Sept. 28, 2012
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Samsung retains No. 1 spot in world handset market
South Korean tech giant Samsung Electronics Co. retained the top spot in the global mobile phone market in August on the back of steady sales of its products worldwide, industry data showed Friday.According to the data released by Hong Kong-based Counterpoint Technology Market Research, Samsung topped the world’s handset market last month with a market share of 29 percent.The research firm attributed Samsung’s outstanding performance to a sweep of both expensive and cheaper phone segments.Samsun
Sept. 28, 2012
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Korea’s industrial output remains sluggish in August
South Korea’s industrial output inched up in August from a year earlier, but its growth pace remained subdued apparently affected by sluggish demand amid concerns over the eurozone debt crisis and global slowdowns, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries grew 0.3 percent last month from a year earlier. It gained a revised 0.2 percent on-year in July. The output, however, shrank 0.7 perc
TechnologySept. 28, 2012
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Shares gain on Spain, China optimism
South Korean stocks advanced 0.38 percent Friday as investor sentiment got a boost from Spain’s pledge to cut spending and rising expectations for Chinese stimulus, analysts said. The local currency strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 7.53 points to 1,996.23. Trading volume was moderate at 668.4 million shares worth 4.85 trillion won ($4.36 billion) with gainers outpacing decliners 492 to 302. “Spain’s budget plan implies it is moving tow
Sept. 28, 2012
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Hyundai Heavy revives bidding war for KAI
The bidding war over the nation’s sole aircraft maker Korea Aerospace Industries is gaining fresh momentum, with Hyundai Heavy Industries unexpectedly joining the race on Thursday. Industry watchers had widely expected that Korean Air would become the sole bidder to acquire a 41.75-percent stake in KAI after the first bid last month failed to draw bidders other than the nation’s largest flag carrier. Now two competitors meet the legal conditions for a valid competition to continue the bidding pr
IndustrySept. 28, 2012