Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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Samsung mocks Apple over iPhone alarm glitch
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'Queen of Tears' riding high on Netflix chart
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Chip up cycle won’t stay long: SK chief
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Spray tans causes cancer
A study found that spray tans can cause cancer. Scientists in the U.S. discovered that spray tans contain a chemical which if inhaled causes asthma, lung cancer, emphysema and chronic obstructive pulmonary disease.“The lungs have a huge surface area, so this compound gets into cells and gets absorbed into the bloodstream. The consequences of that have not been shown to be safe,” said Dr. Rey Panettieri at the University of Pennsylvania.He said that people who use the spray once a month should no
TechnologyJune 14, 2012
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Lee expresses confidence in coping with looming global crisis
President Lee Myung-bak said Thursday he is confident South Korea can cope well with a looming global economic crisis stemming from the eurozone financial turmoil, as the country has made enough preparations to ward off such a situation."The government won't let its guard down even a bit while closely monitoring developments in the world economic situation," Lee said in a speech during a ceremony
June 14, 2012
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'Tropical' lake possible on Saturn moon
(123rf)A long-lasting "tropical" lake of liquid methane on Saturn's moon Titan may be replenished by underground wells of hydrocarbons, U.S. astronomers report.While the Cassini spacecraft confirmed the presence of such lakes in Titan's polar regions in 2004, it had been unknown whether similar bodies could survive in the moon's marginally warmer lower latitudes -- its "tropics" -- without evapora
TechnologyJune 14, 2012
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Household debt ratio much higher than OECD average
South Korea's household debt compared to its gross domestic product (GDP) stood much higher than the average for other developed market economies with high income, a local report showed Thursday.The report by the Korea Chamber of Commerce and Industry (KCCI) showed the household debt-to-GDP ratio for the country hitting 81 percent in 2010, which is higher than 73 percent for the whole of the Organ
June 14, 2012
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[Photo] Innovation
TechnologyJune 14, 2012
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Seoul shares open lower on eurozone woes
South Korean stocks opened lower Thursday on persistent eurozone woes and overnight losses on Wall Street, analysts said.The Korea Composite Stock Price Index (KOSPI) dipped 0.10 percent, or 1.78 points, to 1,857.54 in the first 15 minutes of trading.Market bellwether Samsung Electronics was down 0.39 percent, with top automaker Hyundai Motor also losing 0.84 percent.The local currency was trading
June 14, 2012
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[Photo] Next in line
June 14, 2012
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Construction begins on Saemangeum sea port
South Korea on Thursday started construction of an international sea port on the massive plot of reclaimed land on the southwest coast that could help fuel regional growth, the government said.Once completed in 2030, the new Saemangeum port located 280 kilometers south of Seoul, will be able to handle 17.29 million tons of freight per year and have pier facilities to berth 18 ships simultaneously,
IndustryJune 14, 2012
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Korea’s car industry refutes EU officials’ argument on FTA
The nation’s automobile sector has refuted claims by some European car industry leaders that Korean carmakers are enjoying huge benefits under the Korea-EU Free Trade Agreement.On the contrary, a greater beneficiary of the bilateral FTA ― which took effect on July 1, 2011 ― is the European counterpart, the Korea Automobile Manufacturers Association said Wednesday.KAMA clarified that the trade pact offers little benefit in terms of tariff elimination to the automobile sector, highlighting the man
MobilityJune 13, 2012
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Tech road map to help developing markets achieve green growth
Global Green Growth Institute and Brookings Institution, a U.S.-based think tank, are collaborating to help developing countries access key technologies that could boost their economic growth in an environmentally-friendly way. GGGI executive director Richard Samans said the two organizations aimed to create a “pillar” for international technology cooperation between developed and developing markets.“We are in the midst of identifying specific technology options or mechanisms, maybe more toward
TechnologyJune 13, 2012
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Research raises hopes for dealing with autism
A group of Korean scientists said they have succeeded in temporarily suppressing autistic behavior in mice in experiments, which may raise hopes for treating the developmental brain disorder.Researchers from the Seoul National University, Yonsei University and the Korea Advanced Institute of Science and Technology studied mice with human genes.They deleted some parts of a gene called SHANK2, and found that the mice carrying the gene show autism-like behavior such as difficulty in interacting wit
TechnologyJune 13, 2012
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Ssangyong to support workers on unpaid leave
Ssangyong Motor’s labor and management have reached an agreement on offering several benefits to unpaid workers in their leaves of absence, the company said Tuesday.As key support for the employees on unpaid leave, the automaker will provide them with school expenses for their children, according to Ssangyong.The company will also offer 150 shares, issued by the company, per unpaid worker.In addition, the unpaid employees will be given some gifts during the nation’s traditional holidays such as
IndustryJune 13, 2012
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Samsung to hire more people from regional universities
Samsung Group said Wednesday that it will hire up to 35 percent of its new recruits from regional universities from the second half of this year.The country’s largest conglomerate also said it will introduce a 5 percent quota for applicants from low-income and underprivileged families at the same time.“The group plans on expanding the portion of new hires from universities located outside of Seoul to 35 percent from the current 25-27 percent range during the regular recruiting session in the sec
IndustryJune 13, 2012
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Builders lead 2nd Middle East boom
Korea’s aggregate construction exports exceed $500 billion markKorean builders have secured a combined $500 billion in overseas construction orders as of Wednesday, indicating the beginning of the “second Middle East boom.”Since Korea started overseas construction in 1965, the accumulated orders have exceeded $501.3 billion, the Ministry of Land, Transport and Maritime Affairs said Wednesday. “It’s a milestone at a time of difficulties globally,” Land Minister Kwon Do-youp told reporters, saying
IndustryJune 13, 2012
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Coupang aims for NASDAQ listing as early as 1st half of 2013
Local social commerce firm Coupang’s chief executive said Wednesday that the firm will be listed on the U.S. stock market as early as the first half of next year.“We aim to be listed on the NASDAQ market as early as the first half and by the end of next year at least, but we will look for the right timing,” CEO Kim Bom-suk said.“We raised yearly sales of 600-700 billion won in 22 months and this is not a common situation even in the U.S. It shows the potential for the Korean market,” said Kim.Th
IndustryJune 13, 2012
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Korea’s jobless rate falls to 3.1% in May
Korea’s jobless rate decelerated in May mainly due to more positions created in the service sector, a government report showed Wednesday.The jobless rate stood at 3.1 percent last month, down slightly from 3.2 percent a year earlier, according to the report by Statistics Korea. Last month’s tally also represents a drop from the 3.5 percent reached in April.Job creation accelerated with a total of 472,000 positions added to payrolls in May, compared with 355,000 a year earlier. The number is also
June 13, 2012
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Seoul shares gain 0.25% on U.S. stimulus hopes
South Korean stocks gained 0.25 percent Wednesday on expectations the U.S. Federal Reserve may announce new stimulus measures to bolster growth, analysts said.The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved up 4.58 points to 1,859.32. Trading volume was moderate at 5.38 million shares worth 3.73 trillion won ($3.19 billion), with losers outpacing gainers 423 to 381.“Forecasts that the U.S. will push forward additional quantitative easing to s
June 13, 2012
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Ministry calls for discipline on 8 public agency heads
A total of eight governmental organization chiefs were given dismissal or warning notices for their poor performances last year, the Finance Ministry said on Wednesday. The ministry asked relevant ministries to dismiss two officials ― the heads of both the Korea Livestock Products HACCP Accreditation Service and the Korea Institute of Maritime and Fisheries Technology. The two were given an E grade, the lowest grade possible, by the Finance Ministry in the 2011 Public Institutions Management Per
June 13, 2012
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BNP Paribas targets retail securities sales
Former country head for Greece quiet on European financial crisisBNP Paribas revealed on Wednesday ambitions to enhance its securities platform in Korea as a growth strategy in Asia Pacific’s burgeoning equity and derivatives broker market. BNP Paribas is one of the leading financial groups based in Europe concentrating on retail banking, investment solutions and corporate and investment banking. The Seoul branch opened in 1976. BNP Paribas Securities Korea, one of the four arms of the group’s S
June 13, 2012
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Kibot to make global debut beginning in Middle East
Kim Nan-hyung, 31, was surprised to find out how frequently she uses the “Kibot,” a robot for kids introduced by mobile carrier KT, for her 20-month-old daughter every day.“Because I have a full-time job, I play the animations or songs on the device for my daughter when I’m busily getting ready to go to work or while I cook dinner with her next to me,” she said. “I also turn on the Kibot to sing my baby Seo-jin to sleep and she now knows it’s time to go to bed when I show her the moving pictures
TechnologyJune 13, 2012