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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Apple consulted Samsung, LG phones before iPhone release: documents
Apple Inc. consulted the designs of mobile phones made by Samsung Electronics Co. and LG Electronics Inc., documents showed Wednesday, giving a new twist to the high-stakes patent war between the world‘s two biggest smartphone makers.Samsung and Apple have been embroiled in patent lawsuits spanning four continents as part of efforts to dominate the $219 billion global smartphone market. While courtroom battles are still in process, an Aug. 24 jury verdict in the United States dealt a blow to the
TechnologySept. 5, 2012
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LG, Pantech set to release new LTE devices in U.S. market
Korean handset makers LG Electronics Inc. and Pantech Corp. said Wednesday they plan to introduce new smartphones that operate on the fourth-generation Long-Term Evolution network in the U.S. market within this month. LG is set to release its 5-inch Intuition via Verizon Wireless starting Sept. 6, while Pantech plans to roll out its 4.3-inch Flex via AT&T on Sept. 16, the companies said in separate press releases. As part of efforts to better cater to local users, LG said it added the “LG Tag+”
TechnologySept. 5, 2012
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Samsung, LG, Sony shine at Berlin show
IFA needs reinvigoration to meet increasing expectations: expertsJam-packed with visitors on its opening day, the Internationale Funkausstellung appears to be a success largely thanks to the three Asian tech giants of Samsung Electronics, LG Electronics and Sony showcasing their smart and mobile devices and appliances with unique designs and features.Samsung highlighted its all-new Galaxy Note 2 at an unveiling event, where it also featured Windows 8 phones that stole Nokia’s thunder as the Finn
TechnologySept. 5, 2012
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Kakao to launch content platform: Lee
CEO says integration of mobile and social networking inevitable requirements for growthFlexibility and speed are key to innovation in the mobile technology market.These management traits are essential to keep Kakao creative and responsive to the unpredictable and rapidly changing mobile market, Lee Jae-beom, CEO of the mobile communication venture tech firm, told The Korea Herald.The company’s Kakao Talk is one example that became a worldwide hit with over 50 million users through fast decision-
TechnologySept. 5, 2012
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Horror stories of acupuncture gone wrong
A recent study conducted by the U.K.’s National Patient Safety Agency found that there are perils to acupuncture that can lead to severe health damage, according to news reports. Acupuncture has been a medical treatment since the Chinese discovered it 2,000 years ago. The essence of acupuncture was to puncture the body at specific points that connect with “energy pathways” that link the body. Many used acupuncture as a way to cure a range of health issues including migraines, tooth aches, depres
TechnologySept. 5, 2012
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Oxymoron? A vegetarian McDonald’s to open
McDonald’s announced on Wednesday that it would open the first vegetarian McDonald’s near the Golden Temple at Amritsar, the Sikh holy city in northern India, according to news reports. The world’s second-largest restaurant chain decided to go vegetarian to cater to Hindus, who view cows as sacred, and Muslims, who don’t allow the consumption of pork. McDonald’s is known to tailor menus to fit the tastes of locals all around the world. The current top seller in India is McAloo Tikki burger, whic
IndustrySept. 5, 2012
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S. Korea ranks 19th in global competitiveness
South Korea this year moved up five notches in terms of its global competitiveness from a year earlier, helped by improvements in the country's welfare and education systems, as well as its market efficiency, a report showed Wednesday.According to the annual report by the World Economic Forum (WEF), the country's competitiveness index moved up to 19th place of the 144 countries studied this year.
Sept. 5, 2012
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Abuse victims find a new way to heal through horses
A horse farm in Lake Ariel, not far from Scranton, Pennsylvania, has become a place to help victims of abuse recover from the atrocities they have suffered through horse therapy, according to news reports. In 2009, a 5-year-old was savagely raped by a complete stranger, leaving her mute. Her parents tried all types of therapy, including talk therapy and art therapy, to get her to speak, but nothing worked. Her therapist Ann Cook decided to try something different. Cook had the girl spend time wi
TechnologySept. 5, 2012
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Green tea compound may help shrink tumors
A compound in green tea -- epigallocatechin gallate -- may help combat cancer by shrinking tumors, researchers in Scotland suggest.Study leader Dr. Christine Dufes of the Strathclyde Institute of Pharmacy and Biomedical Sciences and colleagues at the University of Glasgow said the team used an approach that allowed the treatment of epigallocatechin gallate delivered specifically to the tumors int
TechnologySept. 5, 2012
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Samsung violates Chinese workers' rights: report
Samsung forces employees at its Chinese factories to work up to five times the legal overtime limit, bans them from sitting down and denies basic labor rights, according to a US-based watchdog.According to China Labor Watch's probe of eight factories, the South Korean electronics giant is guilty of widespread "legal and inhumane violations."These include forcing workers at the Tianjin Samsung Mobi
IndustrySept. 5, 2012
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Apple announces Sept. 12 event as new iPhone anticipated
Apple Inc. (AAPL) sent out invitations to a Sept. 12 product event in San Francisco, where the company is expected to unveil a redesigned iPhone. “It’s almost here,” Cupertino, California-based Apple said in the invitation, whose image includes a ‘5’ in shadow, possibly in reference to the new product’s name. At the event, set for 10 a.m. at Yerba Buena Center for the Arts, Apple will introduce a
TechnologySept. 5, 2012
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Local governments’ debt snowballs
The fiscal status of local governments in major provinces has worsened critically as their combined debt has snowballed over the past five years.When the nation was hit by the 2008 global financial crisis, the central government recklessly used budgets held by local governments for boosting the economy, according to some research analysts.Local governments expanded their expenditure by issuing local bonds, and as a result, their debt increased by 61 percent from 17.4 trillion won ($15.5 billion)
IndustrySept. 4, 2012
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Watchdog probes big retailers’ commission
Korea’s antitrust watchdog has launched a probe into commission rates major retailers charge on vendors in an apparent move to press them into cutting their rates, industry sources said Tuesday. According to the sources, the Fair Trade Commission on Monday opened a two-week-long investigation into the commission rates charged by the nation’s top two department store chains: Shinsegae and Hyundai. “The probe appears to be designed to pressure the retailers to further cut their commission rates fo
Sept. 4, 2012
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Shares slip 0.29% on auto earnings
Korean stocks closed 0.29 percent lower on Tuesday as investors scaled back holdings in automakers on concerns over their third-quarter earnings, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 5.58 points to 1,907.13. Trading volume was heavy at 868.2 million shares worth 4.5 trillion won ($4 billion), with decliners outnumbering gainers 423 to 395.The loss was largely attributed to falls in auto shares.Industry data showed tha
Sept. 4, 2012
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Speculation grows about KEPCO CEO Kim
The presidential office on Tuesday downplayed the rumor that Korea Electric Power Corp. CEO Kim Joong-kyum will soon be dismissed.Speculation has risen that President Lee Myung-bak is considering replacing the top post at the state-run KEPCO as Kim’s management was going against government policies.While Cheong Wa Dae said it is “not considering” whether to discharge Kim “at the current stage,” public officials still did not rule out the possibility of dismissal before Kim’s term expires. Kim ha
IndustrySept. 4, 2012
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SKT holds alliance meeting in Jeju
SK Telecom, Korea’s largest mobile carrier, said that it held a meeting called “Bridge Alliance” with telecom companies in Asia Pacific in Jeju on Tuesday.The top of the agenda was boosting partnerships in Long Term Evolution roaming across the region and between alliance members.According to Wireless Intelligence, a telecom researcher, the number of LTE users worldwide is expected to grow 69 percent annually to 580 million in total by 2016.SK Telecom and CSL in Hong Kong were the first companie
TechnologySept. 4, 2012
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Foreign IBs forecast BOK’s key rate cut for September
Major foreign investment banks expect South Korea’s central bank to make another rate cut in September due to slumping exports hurt by the eurozone debt crisis and slowing inflationary pressure, a report showed Tuesday.The Bank of Korea is forecast to lower the benchmark 7-day repo rate next Thursday by a quarter percentage point to 2.75 percent in what would be the second rate cut this year, according to the report by the Korea Center for International Finance.The BOK froze the rate at 3 percen
Sept. 4, 2012
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Capital erosion swamps 34 asset management firms, 10 brokerages
A slew of financial investment companies here are suffering from capital erosion as their losses surged on excessive competition and the economic slump caused by the eurozone fiscal crisis.Forty-one percent of local asset management firms and 16 percent of brokerage houses had impaired capital, according to the Financial Supervisory Service and the Korea Financial Investment Association.Some of the smaller companies with impaired capital, whose total capital is less than their paid-in capital, a
Sept. 4, 2012
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IndustrySept. 4, 2012
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IFC Seoul in Yeouido hopes to be city’s landmark, leading tourist attraction
Executive at AIG’s real estate arm confident about project’s successAn exceptional shopping mall opened in Seoul’s Yeouido area last week, targeting fans of global clothing stores such as Massimo Dutti, Zara, H&M and Uniqlo.The three-story underground mall lies beneath the International Finance Center complex which is comprised of three office buildings ― the 32-story One IFC, the 29-story Two IFC, the 55-story Three IFC ― and the 38-story Conrad Hotel. It took nine years to complete the IFC Seo
IndustrySept. 4, 2012