Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Why is Apple Pay struggling to get purchase in Korea?
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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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[Today’s K-pop] BTS pop-up event to come to Seoul
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Yoon's approval rating plunges to all-time low
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[Graphic News] More Koreans say they plan long-distance trips this year
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Mother of student activist, whose death sparked pro-democracy movement, dies
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Woori sues Citigroup over securities losses
Korean lender also set to bring BOA-Merrill Lynch, Royal Bank of Scotland to court for same reasonsWoori Bank sued Citigroup Inc. for fraud to redeem losses from collateralized debt obligations, a type of structured asset-backed security. The Korean lender said it was set to lodge lawsuits against BOA-Merrill Lynch and Royal Bank of Scotland with a U.S. court on Friday for the same reasons. Woori Bank suffered heavy losses worth about 1 trillion won ($852 million) after the U.S. subprime crisis
May 19, 2012
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Households’ monthly income grows 6.9%
South Korean households’ monthly income grew 6.9 percent on-year in the first quarter of this year thanks to improved employment conditions, a government report showed Friday.According to the report by Statistics Korea, households’ monthly income averaged 4.12 million won ($3,540) in the January-March period, compared with 3.85 million won a year earlier. Inflation-adjusted household income gained 3.8 percent from a year earlier, an improvement from a 3.2 percent increase in the fourth quarter o
MobilityMay 19, 2012
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Hotel gold-rush starts in Seoul
Investors rush over to hotel funds to benefit from expected hotel boom in capitalKeen investors are eying the hotel industry with new light. Buoyed by the Korean Wave, more tourists have been visiting South Korea during the last few years and have increased the demand for hotel rooms. More than 10.8 million are expected to visit Seoul this year, needing at least 43,000 hotel rooms, according to the Seoul Metropolitan Government. The number of available hotel rooms, however, is only about 28,900.
IndustryMay 18, 2012
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Kia Motors vows to become premium brand by 2017
Kia Motors has vowed to cultivate its brand power to near that of European and Japanese automakers within five years, following a similar vision its affiliate Hyundai Motor unveiled in April.Kia disclosed the goal to become a premium auto brand during the 2012 gathering of Kia dealership owners worldwide at a hotel in Vancouver May 14-17.Kia Motors vice chairman Lee Hyung-keun told participants that the company has set a vehicle sales target of 2.21 million units in the overseas market in 2012,
MobilityMay 18, 2012
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People have ‘lie detectors’ in brains: study
U.S. scientists have discovered that when a person gets suspicious, certain part of the brain ‘lights up’, much like a lie detector, Science Daily reported Thursday. Researcher at the Virginia Tech Carilion Research Institute found that concept of suspicion is linked to two regions in the brain: the amygdala, which controls fear and emotional memories, and parahippocampal gyrus, related to recognition of scenes and declarative memories.The amygdale is closely related to a person’s baseline level
TechnologyMay 18, 2012
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U.S. aviation body looks into reported ‘UFO’ case
The U.S. Federal Aviation Administration began an investigation over an alleged UFO sighting that nearly caused a plane crash, local newspapers reported Wednesday. A private pilot in Denver told authorities on Monday that his aircraft had a near-collision with a large, unidentified aircraft that was not detected on radar.The incident prompted the FAA to launch a probe over the mysterious object. Investigators will talk to the pilot and look at other clues to find out what the object.While the ai
TechnologyMay 18, 2012
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Gold digging at hotels
Investors rush over to hotel funds to benefit from expected hotel boom in Seoul Keen investors are eying the hotel industry with new light. Buoyed by the Korean Wave, more tourists have been visiting South Korea during the last few years and have increased the demand for hotel rooms. More than 10.8 million are expected to visit Seoul this year, needing at least 43,000 hotel rooms, according to the Seoul Metropolitan Government. The number of available hotel rooms, however, is only about 28,900.
IndustryMay 18, 2012
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Men equate steak with masculinity
Men connect eating meat -- especially muscle meat like steak -- with masculinity, but vegetables were not considered masculine, U.S. scientists found.(MCT)Study authors Paul Rozin of the University of Pennsylvania, Julia M. Hormes of Louisiana State University, Myles S. Faith of University of North Carolina at Chapel Hill, and Brian Wansink at Cornell University said several studies showed meat ge
TechnologyMay 18, 2012
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Samsung develops graphene device for transistor use
Samsung Electronics Co., the world's largest computer memory-chip maker, said Friday it has developed a graphene device that could help revolutionize the capabilities of transistors.Samsung's advanced institute of technology said it has successfully created a three-terminal active device with a graphene variable barrier, which can effectively cut off electric currents in transistors.Graphene is a
TechnologyMay 18, 2012
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Fossil of giant turtle found in Colombia
Paleontologists say they've found fossilized remains of an ancient turtle with a shell the size of a small car that lived 60 million years ago in South America.This is a reconstruction of Carbonemys preying upon a small crocodylomorph. Credit: Artwork by Liz Bradford (UPI)Dubbed Carbonemys cofrinii, or "coal turtle," the fossil was discovered in a coal mine in Colombia, researchers from North Caro
TechnologyMay 18, 2012
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Korean shellfish at risk for feces exposure, U.S. says
The U.S. is curbing shellfish imports from South Korea after food safety regulators determined that inadequate sanitation may have exposed oysters, mussels, clams and scallops to human fecal waste. The Food and Drug Administration removed Korean shippers from its certified shellfish list on May 1, Curtis Allen, an agency spokesman, said in an e-mail today. The FDA cited risks from water and land-b
IndustryMay 18, 2012
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Seoul buses run uninterrupted after union, management strike deal
Buses in Seoul were running smoothly Friday after unionized drivers struck a last-minute wage deal with management and scrapped plans to strike.(Yonhap News)The breakthrough agreement came after marathon talks between the union and management, who agreed to a 3.5 percent wage increase and a 40,000 won (US$34) increase in extra pay for accident-free driving, officials said.Plans to strike from 4 a.
May 18, 2012
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S. Korean satellite successfully reaches earth's orbit
South Korea's multipurpose satellite equipped with a high-resolution camera successfully reached the earth's orbit after blasting off from a Japanese space center, the government said Friday.The Arirang 3 satellite, which lifted off from the Tanegashima Space Center south of Kyushu Island at 1:39 a.m. on Japan's H-IIA rocket has made contact with ground stations, indicating that it has entered a c
TechnologyMay 18, 2012
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Bahk’s plan to appear on shopping TV disputed
Finance Minister Bahk Jae-wan said he plans to appear on a home shopping channel late this month to promote the products of small- and medium-sized companies.But his idea needs to go through some regulatory deliberation first, according to the nation’s broadcasting regulator.Bahk wrote on his Facebook page on Wednesday that he will appear on Home & Shopping, an exclusive channel for SMEs that opened in January, to help the sales of SME products on May 29. Bahk said he hopes to attract a cash mo
May 17, 2012
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Nanotech scientist mired in authorship spat
Nam Koo-hyun speaks out on online argument over breakthrough researchAfter his breakthrough research in nanotechnology headlined the top science journal “Nature,” Nam Koo-hyun is never jubilant. Upon the publication, the research professor at Ewha Womans University, was embroiled in an ethics dispute with one of his assistants claiming her efforts at experiment were extorted. A “witch hunt” ensued many laymen describing him as a viscous exploiter.“It was frustrating,” the 33-year-old scientist t
TechnologyMay 17, 2012
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Minister indicates electricity rates will increase
Commerce Minister Hong Suk-woo indicated Thursday that the government will approve a plan to raise electricity fees.“(Korea’s) cost of electricity for firms marks the cheapest among members of the OECD,” he told reporters. The state-run Korea Electric Power Corp. has called for a hike in electricity prices for industry and homes, citing the long freeze in the prices as the main source of its widening deficit.But the government had opposed the plan, fearing that the hike would inflate consumer pr
May 17, 2012
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LG to launch Optimus LTE 2 in Korea this week
LG Electronics said Thursday that it will launch its new flagship smartphone Optimus LTE 2 in the local market this week.In a press event held at its headquarters in Yeouido, the company showcased the new handset, equipped with the world’s first 2 gigabyte RAM. The handset will only be released in Korea, according to the firm’s mobile chief Park Jong-seok. The new LTE phone also carries the 1.5 gigahertz Snapdragon S4 processor.“The places actively promoting the LTE networks are currently North
IndustryMay 17, 2012
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Korea, U.S. activate FTA committees
WASHINGTON (Yonhap News) ― South Korea and the United States launched a ministerial consultation channel Wednesday on implementing their bilateral free trade agreement.“We established a very effective and efficient communication channel between the two countries in managing KORUS FTA,” Korean Trade Minister Bark Tae-ho said at a forum hosted by the Peterson Institute for International Economics.He was referring to the first Joint Committee meeting with U.S. Trade Representative Ron Kirk in Washi
May 17, 2012
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Hanwha E&C to sign $7 billion Iraqi housing project
Iraq will soon sign a $7 billion agreement with South Korea’s Hanwha Engineering & Construction Corp. to build 100,000 housing units in the country, the chairman of Iraq’s National Investment Commission said.“The signing will be final and the work will start after that, the value of the deal is more than $7 billion,” said Sami al-Araji in a telephone’s interview in Baghdad on Wednesday.The commission is also due to sign a contract with Bloom Properties, a United Arab Emirates-based real estate d
IndustryMay 17, 2012
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Effects of Apple’s Elpida orders on Samsung, Hynix limited
Apple’s reported placing of large orders for Elpida Memory’s mobile DRAM chips will not affect Samsung Electronics shares or its global supply chain in the long-run, analysts said Thursday.The effects of the unconfirmed news are likely to be short-lived and limited to boosting the fundamentals of Korean semiconductor players, including SK Hynix, whose production capacity still outweighs that of the Japan-based chip maker.“Elpida’s production capacity lags behind that of Samsung and Hynix, still
TechnologyMay 17, 2012