Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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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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[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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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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Samsung launches construction for chip plant in Xian
Samsung Electronics Co., the world’s largest memory chipmaker, started work on a semiconductor plant in central China on Wednesday as part of its move to diversify production lines and meet growing demand for chips.The company said earlier it will initially inject $2.3 billion to build the plant in Xian, China. The spending on the construction will reach up to $7.0 billion in the coming years, making the project Samsung’s single largest overseas investment for a chipmaking plant, according to th
Sept. 13, 2012
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Malaysian children celebrate graduation in Korean style
Kuala Lumpur invites Booyoung to graduation ceremony to thank Korean builder for donationsPUTRAJAYA, Malaysia ― Rows of Malaysian primary school students dressed in pink and light blue traditional costumes sing the Korean song “Spring of My Hometown” in the Korean language.They sing to the music played from digital pianos donated by Korea’s Booyoung Housing Co. Ltd. to celebrate their friends’ graduation on Thursday in the Southeast Asian country’s administrative center. Visually impaired studen
IndustrySept. 13, 2012
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Report points to rising income inequality
GENEVA (UPI) -- Income inequality, based on trends in the past three decades, has been increasing both within countries and between them, says a U.N. report.The report by the U.N. Conference on Trade and Development said the share of wages in total income fell in most developed and in many developing countries in the past 30 years, such as 5 percentage points or more in Australia, the United Kingdom and the United States and by 10 percentage points or more in France, Germany and Ireland.“In seve
Sept. 13, 2012
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Samsung’s legal move in focus after iPhone 5 unpack
Following the launch of Apple Inc.’s first long-term evolution (LTE) phone, eyes are focused on whether Samsung Electronics Co. will take legal action to bring the two top smartphone makers‘ global patent war to a new stage, market watchers said Thursday.Apple unveiled the iPhone 5 at a long-awaited launch event in San Fransisco on Wednesday, pitting its latest iPhone against Samsung’s extensive LTE line-up amid ongoing patent tussles between the two companies.Samsung and Apple have been locked
TechnologySept. 13, 2012
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Omega 3 supplements may not help heart
IOANNINA (UPI) -- Taking omega-3 supplements was not associated with a lower risk of all-cause death, cardiac death, sudden death, heart attack or stroke, Greek researchers say.Dr. Evangelos C. Rizos of the University Hospital of Ioannina in Greece and colleagues performed systematic review and meta-analysis to determine the association between omega-3 polyunsaturated fatty acids and major cardiovascular outcomes.Twenty studies were identified, which involved 68,680 randomized patients and 7,044
TechnologySept. 13, 2012
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Study suggests dark energy does exist
(123rf)Dark energy, a mysterious substance thought to be responsible for accelerating the expansion of the Universe, is real, European astronomers say.Writing in the Monthly Notices of the Royal Astronomical Society, researchers at the University of Portsmouth and LMU University Munich say their two-year study puts the possibility of the existence of dark energy at 99.996 percent."Dark energy is o
TechnologySept. 13, 2012
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Double arm transplant OK’d for Texas woman
A Texas woman who lost both arms to flesh-eating bacteria has been approved for a double arm transplant, doctors in Boston said Wednesday.Katy Hayes appeared at a news conference with doctors at Brigham and Women’s Hospital in Boston, The Boston Globe reported. She would be the first patient in the United States to undergo the procedure, although it has been carried out in Germany.Doctors told reporters if the surgery is successful Hayes will be able to bend her elbow and carry out tasks such as
TechnologySept. 13, 2012
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BOK freezes key rate for 2nd month
South Korea's central bank unexpectedly froze the key interest rate for the second straight month on Thursday in an apparent bid to save ammunition for any worsening of economic conditions.Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers unanimously left unchanged the benchmark 7-day repo rate at 3 percent for September. The decision surprised the market as most analysts had pre
Sept. 13, 2012
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West Nile virus deaths up 35 percent in US
Deaths linked to the West Nile virus jumped 35 percent in the United States over the past week, amid one of the worst US outbreaks of the mosquito-borne disease, officials said Wednesday. As of Tuesday, a total of 118 fatalities have been blamed on West Nile virus infections since the beginning of the year, up from 87 on September 2, the Centers for Disease Control and Prevention said. The number of cases rose to 2,636 from 1,993 during the same time frame, a 32 percent increase.“The 2,636 case
TechnologySept. 13, 2012
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Seoul shares open lower ahead of Fed announcement
South Korean stocks started lower Thursday as investors sat on the sidelines ahead of a key decision by the U.S. central bank, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 9.96 points, or 0.51 percent, to 1,940.07 in the first 15 minutes of trading.Most shares traded bearish, with top shipyard Hyundai Heavy Industries falling 0.61 percent and steelmaker POSCO sliding
Sept. 13, 2012
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Income gap between farmers, urban workers hits record high
The income gap between the country‘s farm workers and non-farm workers widened to a record high last year, with earnings of farmers shrinking due to a rise in costs, the government said Thursday.The average income of farmers stood at 59.1 percent of that of urban households in 2011, according to the Ministry of Food, Agriculture, Forestry and Fisheries. It is the first time that the ratio fell below the 60 percent mark.Up until the mid-1980s, the average income of farm workers exceeded that of c
Sept. 13, 2012
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Apple unveils thinner and lighter iPhone 5
Apple CEO Tim Cook speaks in front of an image of the iPhone 5 during an Apple event in San Francisco, Wednesday. (AP-Yonhap)For the first time, the iPhone is growing even as it slims down. After sticking for five years to the same screen size, Apple on Wednesday revealed a new phone that's taller, with a bigger display.The iPhone 5 will go on sale in the U.S. and eight other countries next Friday
TechnologySept. 13, 2012
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No compromise with Apple, Samsung CEO says
Sales of Galaxy Note 2 projected to reach 20m units, Galaxy S3 to exceed 30m this yearSamsung Electronics has no intention to form a compromise with Apple in the near future over the ongoing patent lawsuit between the two sides involving smartphone technology and designs, a top Samsung executive said on Wednesday.“Though the two sides have held a series of negotiations on instruction from the court, it was in vain,” Samsung CEO Shin Jong-kyun of the mobile devices division told reporters.“It wil
TechnologySept. 12, 2012
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Fewer firms seek listing on KOSDAQ
The number of KOSDAQ-listed companies is decreasing as the world economic slowdown drags on. A total of 1,011 companies are listed on the KOSDAQ as of Tuesday, according to the Korea Exchange on Wednesday, which is a decrease of 20 compared to the same period the previous year. The number of categories also decreased by 20, to 1,016. KOSDAQ did not throw out more companies but less companies sought to be listed, said market insiders. Korea Exchange said that 13 companies were newly listed or rel
Sept. 12, 2012
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Korea’s job creation slows in August
South Korea’s jobless rate edged down in August from a month earlier but job creation slowed markedly amid worries the overall economic conditions are toughening at home and abroad, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 3 percent last month, down from 3.1 percent tallied in the previous month. This is the lowest level for this year. The number of jobs added to payrolls, however, slumped. About 364,000 more jobs were created la
Sept. 12, 2012
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KT goes digital with social contributions
Following is the sixth in a series of articles about companies’ social contribution activities at home and abroad. ― Ed.With its expertise in telecommunications, KT is moving to minimize the digital divide within the country, going forward with several social contribution projects.The nation’s top fixed-line service provider’s projects include its organization called IT Supporters, Olleh Smart Academy, and giving out smart devices serviced by the firm to underprivileged families.The company also
IndustrySept. 12, 2012
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BOK likely to cut key rate to 2.75% in September: poll
South Korea’s central bank is tipped to make another rate cut in September following its July rate reduction in a bid to prop up the local economy hit by the eurozone debt crisis, a poll showed Wednesday.Eighteen out of 21 analysts forecast that the Bank of Korea will lower the benchmark seven-day repo rate by a quarter percentage point to 2.75 percent on Thursday, according to the survey by Yonhap Infomax, the financial news arm of Yonhap News Agency.The BOK froze the rate at 3 percent last mon
Sept. 12, 2012
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NTS recoups W863.3b from rich tax evaders
Korea’s tax agency said Wednesday that it has secured 863.3 billion won ($765.7 million) in unpaid taxes from high-income tax evaders during the first seven months of this year. The National Tax Service said it cracked down on tax evaders among wealthy citizens in the January-July period, finding that 1,420 high-income earners have engaged in dodging taxes through diverse tactics.As a result, the NTS said that it has ordered them to pay 510.3 billion won in cash for unpaid taxes and seized 224.4
Sept. 12, 2012
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Shinhan Bank sells $95m of yuan-denominated bonds
HONG KONG (Yonhap News) ― Shinhan Bank, South Korea’s third-largest commercial bank, said Wednesday it has raised 600 million yuan ($95 million) in so-called dimsum bonds to diversify funding sources amid the prolonged global downturn. The yuan-denominated bonds were priced to yield 3.5 percent and will mature in two years, the lender said. Dimsum bonds refer to bonds that are denominated in the yuan and issued in Hong Kong. The latest debt sale comes amid its efforts to diversify funding source
IndustrySept. 12, 2012
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Banks’ household loan growth picks up in Aug.
South Korean banks’ household loans grew at a faster pace in August than the previous month due to marginal gains in home-backed lending and a seasonal factor, the central bank said Wednesday.Local banks’ household loans, including home-backed and credit loans, amounted to 459.3 trillion won ($407.8 billion) as of the end of August, up 1.5 trillion won from the previous month, according to the Bank of Korea.The August growth accelerated from a 700 billion won gain tallied in July, when the month
IndustrySept. 12, 2012