Most Popular
-
1
Inflation eases in April, continues bumpy ride
-
2
Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
-
3
Key suspects grilled over alleged abuse of power in Marine death inquiry
-
4
Seoul alerts overseas missions to NK terror threats
-
5
[Graphic News] Number of coffee franchises in S. Korea rises 13%
-
6
S. Korean children, teens grow taller, mature faster than before: study
-
7
Some junior doctors are returning: Health Ministry
-
8
Public backlash against division of Gyeonggi Province under 'corny' name
-
9
Army takes group action against Hybe for neglecting BTS
-
10
[Robert J. Fouser] AI changes rationale for learning languages
-
36 large firms put under debt workout
Thirty-six large companies including 17 builders will have to either undergo a debt workout program or be forced out of the market, the Financial Supervisory Service said Friday, citing the results of an annual evaluation by creditors.Creditor banks assessed the credit risks of 1,806 companies that borrowed 50 billion won or more from financial institutions, and blacklisted 36 of them into grades C and D. Fifteen of them, including five construction companies, a shipbuilder, two semiconductor ma
July 6, 2012
-
Korea, China to negotiate sensitive agricultural, industrial items separately
Reaching free trade agreement will be harder than expected, says Seoul’s negotiatorKorea and China have confirmed their basic positions on the bilateral free trade agreement, but have yet to reach an agreement on key issues such as the level of tariff concessions and the choice of sensitive and ultra-sensitive items. The two countries had earlier agreed to carry out the FTA negotiations in two stages, the first of which will be settling the sizes of baskets for general, sensitive and ultra-sensi
July 6, 2012
-
A weekend to detox
Detox juices, stretching and medical check-ups can help cleanse organs, achieve mental clarity and perhaps even weight lossSay goodbye to our friends, samgyeopsal and soju, this weekend. If you constantly feel heavy, low and depressed, your body is probably sending you a signal that it wants to rid itself of all the toxins it has been accumulating. However, “how” is a big question.Often touted by celebrities, detox drinks or diet cleanses have risen in popularity. The “Lemon Detox Diet” is one e
TechnologyJuly 6, 2012
-
Lotte Shopping buys Himart for 1.24 tln won
Lotte Shopping Co., the flagship affiliate of retail-oriented conglomerate Lotte Group, said Friday it reached a deal to buy electronics appliance retailer Himart Co. for 1.24 trillion won (US$1.09 billion).The stock purchase agreement calls for the takeover of a 65.25 percent stake in the electronics retailer currently owned by Eugene Corp., Hi Consortium and former Himart CEO Sun Jong-koo, Lotte
IndustryJuly 6, 2012
-
Seoul shares open lower despite EU, China stimulus
South Korean stocks opened lower Friday, as investors were unmoved by the European and Chinese timulus measures taken overnight, analysts said.The Korea Composite Stock Price Index (KOSPI) dipped 4.31 oints, or 0.23 percent to 1,871.18 in the first 15 minutes of trading.Tech blue chips and financials drove the shares down, with arket behemoth Samsung Electronics losing 0.34 percent and No. 2 ender
July 6, 2012
-
Star pair orbits surprise astronomers
Astronomers using a British telescope in Hawaii say they've seen four pairs of stars, known as binaries, that orbit each other closer than was thought possible.While binary stars are common, believed to have formed close together and orbiting each other since birth, it was always thought that if binary stars form too close to each other, they would quickly merge into one single, bigger star.Observ
TechnologyJuly 6, 2012
-
South Korea plans to resume whaling for research
South Korea plans to resume hunting whales for research purposes, officials said Thursday, drawing immediate protests from non-whaling nations and environment groups that suspect the plans may be a cover for commercial whaling.South Korean officials conveyed the plan to the International Whaling Commission during an IWC meeting this week in Panama, according to Seoul's Ministry for Food, Agricultu
TechnologyJuly 6, 2012
-
Samsung puts Q2 operating profit at record 6.7 tln won
South Korean tech giant Samsung Electronics Co. said Friday that it had probably posted a record operating profit in the second quarter on strong sales of its flagship Galaxy series smartphones.Samsung, the world's largest maker of memory chips and smartphones, estimated its operating profit at 6.7 trillion won($5.9 billion) for the April-June period, up 78.7 percent from a year earlier and 14.5 p
July 6, 2012
-
Korea joins bidding for U.N. aviation office
Korea has recently joined an international bidding to host the regional office of the International Civil Aviation Organization, a specialized agency of the United Nations, government officials said Thursday. The Ministry of Land, Transport and Maritime Affairs submitted an official application for an Asia Pacific office and started preparations for the ICAO’s potential inspection. The Canada-based ICAO aims to set the principles and techniques of international air navigation and develop interna
IndustryJuly 5, 2012
-
SKT succeeds in testing new LTE-Advanced technology
SK Telecom, Korea’s biggest mobile carrier, has successfully tested a new technology for the development of its Long Term Evolution-Advanced, the next generation of 4G LTE.The company said Thursday that it has collaboratively demonstrated the enhanced Inter-Cell Interference Coordination, or eICIC, alongside global communication chip maker Qualcomm and telecommunication equipment maker Nokia Siemens Networks.EICIC, which helps to reduce interference between different layers of long-range and sho
TechnologyJuly 5, 2012
-
Gasoline to fall below W1,900 per liter
The 1,900-won gas price is expected to slide even lower soon, due to the “stable international oil price,” industry sources said on Thursday.The sources said the 1,900 won-per-liter mark is expected to go down at any moment as the dip is likely to continue for a while.Thursday’s price of regular gasoline fell to its lowest since March 6, 2011, according to data. Opinet, an online service provider of oil prices under the state-run Korea National Oil Corp., reported Thursday that the nation’s ave
IndustryJuly 5, 2012
-
Measures to support retiring baby boomers
The government vowed to offer new life opportunities to the baby boomer generation and encourage their participation in society by legislating measures aimed at supporting them in old age. Officials from nine ministries, including the Welfare Ministry and Labor Ministry, came up with 35 measures to help baby boomers stand on their own feet in their latter years, during a meeting on emergency economic measures hosted by President Lee Myung-bak on Thursday. The term refers to about 7.14 million ci
July 5, 2012
-
Korea to resume whaling for research
Seoul announced it will resume whaling under an exception in the global moratorium that allows scientific research, drawing fierce criticism from conservationists at home and abroad.The Korean delegation at the annual meeting of the International Whaling Commission held in Panama City said on Wednesday that they will submit a plan on whaling to the IWC scientific subcommittee.The delegation said that Korea will conduct whaling only in its territorial waters and that it does not need foreign appr
IndustryJuly 5, 2012
-
LG consortium wins big order for solar project
LG Electronics further eyes solar projects for growthLG Electronics said that it has won a large order to supply its solar modules in a solar plant project in Yeonggwang, South Jeolla Province.Korea’s second-largest consumer electronics company joined a consortium led by its affiliate LG CNS, a system integrator, and won a bid launched by Korea Hydro & Nuclear Power to construct a 10.9-megawatt solar power plant. LG CNS will oversee the construction of the plant, which is planned to be completed
TechnologyJuly 5, 2012
-
Concern looming over household debt defaults
Nearly 100 trillion won ($87.9 billion) in household debt owed to banks will come due this year, sparking jitters over a surge in defaults amid a worsening housing market and a global economic downturn, sources said Thursday.Local households will be required to pay back 98 trillion won in bank loans this year, with home-backed loans taking up the bulk of the total, or 79.5 trillion won, according to the Financial Services Commission. Of the total mortgage loans, about 60 trillion won should be r
July 5, 2012
-
Banks’ FX deposits hit record high in June
Foreign currency deposits at South Korean banks rose to their highest level in June as companies put more money into them amid a wider trade surplus, the central bank said Thursday.Foreign currency-denominated deposits held by residents reached an outstanding a record high of $33.48 billion as of the end of June, up $1.42 billion from the previous month, according to the Bank of Korea. The term residents includes individual citizens, firms and foreign nationals who have lived in the country for
July 5, 2012
-
Eurozone debt woes weighing down Korea’s economic growth: report
Korea’s economic conditions continue to improve modestly, but eurozone debt problems and slowdowns in major countries are still fueling uncertainties for its export-driven growth, the finance ministry said Thursday.In its monthly “green book” report, the ministry said that the government has to brace for a persistent and prolonged crisis down the road, underlining the need to closely monitor market conditions at home and abroad.“External market situations remain cloudy as worries over the eurozo
July 5, 2012
-
FSS updates handbook on licensing firms
Financial Hub Korea under the Financial Supervisory Service has published the revised edition of its English-language licensing handbook designed to help foreign financial institutions better understand the procedures to enter the Korean financial market. The new book, titled “Korean Financial Company Licensing Handbook,” reflects changes in Korean financial supervisory laws and regulations since its first publication in February 2010. The handbook consists of five categories: common, banking b
July 5, 2012
-
Seoul shares end flat ahead of ECB meeting
South Korean stocks closed nearly flat on Thursday as investors refrained from trading ahead of the European Central Bank policy rate meeting and Samsung Electronics’ guidance release, analysts said. The local currency gained against the greenback.The benchmark Korea Composite Stock Price Index rose 1.04 points, or 0.06 percent, to 1,875.49. Trading volume was moderate at 318.4 million shares worth 3.59 trillion won ($3.16 billion), with gainers outnumbering decliners 401 to 385.“Investors have
July 5, 2012
-
Hana’s ‘good housing’ loans rise in popularity
A “good housing” loan package offered by Hana Bank has been gaining popularity among consumers.Called the “Hana Good Housing Lease Loan,” the package offers benefits for loan seekers such as a six-month waived-interest period for the recently unemployed. Those looking to rent an officetel, or studio apartment, as well as those who are looking for a half-loan are eligible for the program. The loan package also offers bank-backed insurance claims, and compared to other loan packages, is relatively
July 5, 2012