Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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[Weekender] How DDP emerged as an icon of Seoul
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Seoul to provide housing subsidy to married couples with newborns
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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[Music in drama] An ode to childhood trauma
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Parents key to teen's alcohol, drug use
Some parents assume whatever they say about drugs and alcohol may be drowned out by peer pressure, but U.S. researchers say parents are key.Michael Cleveland of the Prevention Research Center at Pennsylvania State University said influences on what teens do often come from their friends, but parents have big roles.Cleveland and colleagues interviewed high school freshmen and sophomores, asking the
TechnologyJuly 24, 2012
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Scientists 'engineer' a jellyfish
The artificial jellyfish. (Image credit: Harvard/Caltech)(UPI)U.S. researchers say they've used inanimate silicone and living cardiac muscle cells to reverse engineer a freely swimming artificial "jellyfish."Researchers at Harvard University and the California Institute of Technology say the successful effort was a proof of concept for reverse engineering a variety of muscular organs and simple li
TechnologyJuly 24, 2012
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Seoul shares open lower on eurozone woes
South Korean stocks turned lower Monday after a strong start, dampened by concerns over the depeening crisis in the eurozone region, analyst said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 5.94 points, or 0.33 percent to trade at 1,783.50 in the first 15 minutes of trading.Shares traded mixed, with tech giant Samsung Electronics staying flat and chipmaker SK hynix jumping 2.5 per
July 24, 2012
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Taiwanese firms file complaints on Korean stainless steel products
HONG KONG -- Taiwanese steel manufacturers have filed anti-dumping complaints on South Korean stainless steel products, saying they are sold at excessively low prices, South Korea's trade agency said Monday.Taiwan's leading stainless steel makers Yieh United Steel Corp. (YUSCO) and Tang Eng Iron Works Co. submitted complaints to the country's ministry of commerce, claiming South Korean products ar
IndustryJuly 23, 2012
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Two Koreas mulling joint development of rare earths
But Seoul officials cautious about specific progress in talksSouth Korea and North Korea are considering carrying out a joint project developing rare earth minerals buried in the North but working-level discussions have been suspended since the death of former North Korean leader Kim Jong-il in December. Korea Resources Corp., the South’s state-run resource explorer, confirmed Monday that they tested four rare earth samples from the North to see if they are economically exploitable, saying, “No
IndustryJuly 23, 2012
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FTC takes legal action against 4 humidifier sterilizer makers
The Fair Trade Commission said on Monday that it has brought the heads of four companies including two U.S.-based firms to prosecutors on charges of concealing that their humidifier sterilizers contain dangerous materials. FTC officials said the four companies labeled their humidifier disinfectants either as “safe for the body” or “safe for the body and harm-free when inhaled.”The legal action was taken as the nation’s health authorities came to a conclusion that sterilizers for humidifiers are
July 23, 2012
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Korea No. 3 in capital flight to tax havens: report
Some $779 billion in financial assets have been moved from Korea to tax havens abroad for tax evasion since the 1970s, according to a report by a U.K. expert.The amount is the third-largest in the world, after China’s $1.19 trillion and Russia’s $798 billion, James Henry said in a report commissioned by the U.K. campaign group Tax Justice Network.The former chief economist at consultancy McKinsey & Company and expert on tax havens has compiled the most detailed estimates yet of the size of the o
July 23, 2012
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LG Electronics releases new all-in-one computer
LG Electronics released its new all-in-one personal computer on Monday to meet the rising demand for the category in the local market.Dubbed the “V720 Series,” the all-in-one computer ― which plays the role of PC, small-size 3-D television and monitor ― comes with a separate remote control for the TV, its officials said.The product enables people to watch TV with a remote control without booting up the computer, said LG officials. They can also use the “picture in picture” function to watch TV w
IndustryJuly 23, 2012
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KT starts test service for world’s first VoLTE
KT, Korea’s second-largest mobile carrier, said Monday that it has launched a pilot service of Voice over Long Term Evolution for the first time in the world.Some 300 workers and college students will be given the chance to test KT’s high-definition VoLTE in Korea.The concept of HD VoLTE is similar to Voice over Internet Protocol telephone service, which uses Internet broadband lines to transmit voice data, whereas VoLTE transmit data via LTE networks, an industry source said.Also, VoLTE allows
TechnologyJuly 23, 2012
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Big companies brace for financial difficulties
Cash flow problems hit conglomerate-based exporters on global factors such as euro crisisMore and more large-sized companies are facing risks of deterioration in financial soundness, mostly hit by external factors like the eurozone debt crisis.Among them are SK Telecom, SK Hynix, LG Display, LG Uplus, LG Innotek, LG International Corp., Cheil Industries, CJ CheilJedang Corp., Hanwha Chemical, Hyundai Hysco, Hyundai Merchant Marine and Doosan Heavy Industries, according to FnGuide, a financial in
IndustryJuly 23, 2012
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Seoul shares fall on renewed eurozone worries
South Korean stocks closed 1.84 percent lower Monday as Spain’s call for a rescue fund spurred a new wave of fears that the eurozone debt crisis is deepening, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index plunged 33.48 points to finish at 1,789.45. Trading volume was moderate at 491.3 million shares worth 3.55 trillion won ($ 310.5 million), with decliners far outstripping gainers 676 to 155.“Investors are unnerved by Spain because
July 23, 2012
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Auditor asks FSS to boost rate oversight
Korea’s national auditor asked the country’s financial regulator to strengthen supervision of banks after finding that they did not pass on central bank interest-rate cuts sufficiently to borrowers.Lenders “unreasonably” charged extra yields, undermining the Bank of Korea’s policy rate cuts since 2008 and burdening companies and households, the Board of Audit and Inspection of Korea said in a statement on its website. The auditor said it advised the Financial Supervisory Service governor to come
July 23, 2012
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BOK faces probe over cyber censorship
Some lawmakers are set to pound on the Bank of Korea for allegedly tracing the IP addresses of employees who badmouthed executives including Governor Kim Choong-soo on the bank’s internal online message board.The BOK had sought to hunt down staff members who wrote critically of the governor’s remarks during an internal meeting and the exceptional working conditions for Deputy Governor Kim Jun-il, and take legal action against them.The central bank took issue with two more postings that contained
July 23, 2012
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Food imports from U.S. fall despite FTA
Korea’s imports of agriculture products and food from the United States dropped in the second quarter despite the start of their free trade agreement, a trade organization said Monday.Shipments of agriculture and food products from the United States to the country came to some $1.91 billion in the April-June period, down 16.8 percent from the same period last year, according to the Korea Agro-Fisheries & Food Trade Corp. Imports in January and February increased 0.9 percent and 5.2 percent on-ye
July 23, 2012
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KRA to breed 100,000 horses
The state-run organization in charge of horseracing announced on Monday plans to step up as both a company engaged in social contributions and as a leader in the horse and leisure industry until 2022, the centennial year of South Korea’s horseracing history. To meet the goal, the Korea Racing Authority revealed four targets to reach by 2022: to develop the industry into a 1.3 trillion won ($1.14 billion) market; to make 30 percent of its profits in non-racing businesses; to breed 100,000 horses;
IndustryJuly 23, 2012
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Korean firms to engage in Olympic marketing
The Korea Chamber of Commerce and Industry said Monday that six out of every 10 big firms are expecting extra demand to occur during the London Summer Olympic season.In a recent survey of the country’s 100 largest companies, about 35 percent said they plan to launch marketing activities related to the Summer Olympics, higher participation than the Korea-Japan joint World Cup in 2002 and the Beijing Olympics in 2008 which recorded 19.7 percent and 27.3 percent, respectively.When asked how they ex
July 23, 2012
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JPMorgan downplays possibility of rate fixing
HONG KONG (Yonhap News) ― Global investment bank JPMorgan on Monday played down the possibility of South Korean financial firms’ rigging of interest rates on certificates of deposit, saying they may have had limited benefits from it.Korea’s Fair Trade Commission launched last week a probe into Kookmin Bank, the country’s largest lender, and eight other banks as well as 10 major brokerages over alleged CD rate rigging. JPMorgan said in a report that banks and brokers would have a limited benefit
July 23, 2012
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KCS finds Nintendo piracy worth W100b
The Korea Customs Service announced on Monday it had referred about 25 people who illegally copied Nintendo computer games and illegal cartridges to prosecutors for investigation. The alleged violators of the copyright law, unearthed by the KCS, include 15 online shopping mall managers who sold over 90,000 pirated games of the Japanese game company and also illegally produced cartridges. The pirated goods are worth at least 100 billion won ($87.2 million), according to the KCS. The illegal cartr
IndustryJuly 23, 2012
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Philips Lighting names new branch chief
Philips Electronics Korea, a subsidiary of the Dutch multinational company Royal Philips Electronics, has appointed Kim Il-gon as the new chief of its lighting branch. He is set to take office on Sept. 1. The Korean subsidiary of the Dutch electronics firm expressed confidence in its selection, and said that Kim’s proven track record in the LED industry will help contribute to the overall growth of the company, especially towards the development of new lighting technologies. The sector is expect
July 23, 2012
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JTI Korea releases ‘capsule’ type cigarette
JTI Korea, a local division of the international tobacco-maker Japan Tobacco Inc., has announced the release of a new type of “capsule” cigarette. Called “Mild Seven Option,” this is the first time the company has applied a capsule design to a cigarette. The new design allows capsules inside the cigarette filter to “pop,” and helps the product maintain its menthol taste, according to a company spokesperson. “We will constantly try to improve the expertise and design of our products in order to p
July 23, 2012