Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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[Herald Interview] Guggenheim Museum makes a push for technology-based art with LG
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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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Tensions heighten ahead of first president-opposition chief meeting
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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New chief named to anti-corruption body
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[Music in drama] An ode to childhood trauma
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Korea urged to shift IT focus to software
South Korea should focus on cultivating software talents and relax regulations on the information and communication industry if it wants to survive in the fast-changing global IT industry, a presidential council reported Tuesday.The President’s Council on National ICT Strategies made the suggestions during a report to President Lee Myung-bak, stressing that South Korea, once considered an IT power due to its advanced hardware technologies, is fast losing ground in what is now a software-centered
TechnologyMay 23, 2012
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Google completes Motorola Mobility takeover
SAN FRANCISCO (AFP) ― Google closed Tuesday its $12.5 billion deal for Motorola Mobility, a key manufacturer of smartphones and other devices that puts the Internet giant in head-to-head competition with Apple.“The acquisition will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing,” the California-based Internet giant said in a statement.Chief executive Larry Page said Google was acquiring “a great American tech company, with a track record of ov
TechnologyMay 23, 2012
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Evernote powers up relationship with Korea
U.S. mobile app start-up opens local office in SeoulEvernote, a U.S. mobile app start-up, is diving into the Korean market to provide local support in Korean for local users and deepen relations with its developers, its chief executive said Wednesday.As an initial step, the California-based firm opened a Korean office in southern Seoul on Tuesday, following the establishment of a Beijing office last month, according to Phil Libin, founder and CEO of Evernote.“We come to Korea because we think Ko
TechnologyMay 23, 2012
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Vitamin C helps babies of smoking moms
Pulmonary function of babies born to women who smoked during pregnancy was significantly improved if the women took vitamin C, U.S. researchers say.Dr. Cindy McEvoy, associate professor of pediatrics at Oregon Health & Science University Doernbecher Children's Hospital, said the study involved newborns of 159 smokers and randomized them to daily vitamin C -- 500 milligrams or placebo -- before 22
TechnologyMay 23, 2012
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15,000 job applications in 10 years… still no job
Desperate jobseeker in the United Kingdom has resorted to begging for a job in the streets after being rejected 15,000 times in the past 10 years, according to news reports.Robin Norton, who reportedly has a masters degree in history along with several National Vocational Qualifications, walks down a road wearing a sandwich board that says “Hire me, plese?!”“Wearing the sign is a last-ditch attempt for me to get work,” says 40-year-old Norton. He says he is willing to work at any full-time job.N
May 23, 2012
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Calif. passes 'self-driving' cars bill
California's Senate passed a bill to create guidelines for autonomous vehicles' -- self-driving cars -- to be tested and operated in the state, officials said.The bill will now go to the state Assembly for consideration next month, the Los Angeles Times reported Monday.The passage in the Senate comes as Google Inc., Caltech and other groups are busy developing vehicles that use radar, video camera
MobilityMay 23, 2012
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Chances of nuclear accident put higher
Catastrophic nuclear accidents such as Chernobyl and Fukushima are more likely to happen than previously assumed, German researchers say. (MCT)Scientists at the Max Planck Institute for Chemistry in Mainz have calculated that given the operating hours of all civil nuclear reactors and the number of nuclear meltdowns that have occurred to date, such disasters may occur once every 10 to 20 years.Tha
TechnologyMay 23, 2012
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OECD trims Korean growth outlook to 3.3%
The Organization for Economic Cooperation and Development said Tuesday that South Korea’s economy will slow to 3.3 percent in 2012 from 3.6 percent in 2011 due to the deepening European debt woes.But the OECD said in its economy outlook report that the Korean economy will pick up next year to achieve 4 percent growth.In terms of global recovery, the Paris-based OECD said that it is slowly regaining momentum and that the world economy will grow by 3.4 percent in 2012 and 4.2 percent by 2013. It w
May 22, 2012
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Korean Air goes green
Korean Air, the official airliner for the 2012 IUCN World Conservation Congress, is at the vanguard of the aviation industry’s fight against climate change with the introduction of more environment-friendly aircraft and a company-wide campaign to save energy. The nation’s flag carrier expects its sponsorship for the meeting to be held on Jeju Island from Sept. 6-15 will be an opportunity to promote its efforts to cut carbon emissions. “We are glad to be sponsoring a meaningful global event such
IndustryMay 22, 2012
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Privately invested projects sap public coffers
Excessive demand forecast, minimum revenue guarantee add to fiscal burdenAn apology was recently posted at stations on Seoul subway line No. 9. The line operator apologized for its abrupt notice of the plan to raise fares. It said it would temporarily postpone the fare hike, which it had sought to implement from June 16. Last month, the private operator of Seoul subway line No. 9 shocked citizens with an abrupt notice of its decision to raise fares by 500 won. The company later caved in under st
IndustryMay 22, 2012
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Samsung C&T wins $726m orders
Samsung C&T Corp., one of South Korea’s leading construction and trading companies, said Tuesday it has won three overseas orders worth $726 million.The company said it secured a high-rise development and building remodeling project worth a combined $534 million in Singapore, and a $192 million hotel construction project in Mongolia.The two orders in Singapore involve construction in the Marina Center region in the city state’s central business district.The company is already engaged in 12 other
May 22, 2012
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LG 3-D TV wins excellent reviews
LG Electronics Inc.’s 2012 Cinema 3-D smart TVs have received excellent reviews from European information technology media outlets, industry sources said Tuesday.Sources said that Britain-based CNET media named the South Korean consumer giant’s 47-inch LM960V model its “Editor’s Choice” for its precise contrast, viewer-friendly recreation of vivid colors and smart functionality as well as three-dimensional picture quality.It added that the very thin bezel enhances the overall refinement of the T
IndustryMay 22, 2012
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Chung foundation supports entrepreneurs
Hyundai Motor Co. and the Chung Mong-koo Foundation signed an agreement on Tuesday to create 1,500 jobs for youth by fostering a young businesspersons’ establishment of social enterprises.To attain the goal, the two sides agreed to foster 150 social enterprises for the coming five years, foundation officials said. The automaker and its foundation said the agreement was their long-term solution to bringing down the unemployment rate among young adults and promote social entrepreneurship in Korea.
IndustryMay 22, 2012
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Hyundai Motor Group denies rumors on steel units’ merger
Hyundai Motor Group dismissed the rumors that Hyundai Steel and Hyundai Hysco, two of the conglomerate’s seven subsidiaries, will merge.In their regulatory filing on the Korea Exchange, the two Hyundai units also denied the merger rumors, respectively. They said the news was “groundless.”Stock prices of the two companies fluctuated during the trading session on Tuesday, hit by the speculation that steel producer Hyundai Steel and steel sheet products manufacturer Hyundai Hysco were pushing for b
IndustryMay 22, 2012
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KOTRA hosts large exhibition of Korean products in Mideast
Korea Trade-Investment Promotion Agency announced on Tuesday that it had launched the largest-ever exhibition of Korean products in Abu Dhabi, the capital of United Arab Emirates. Titled “Made in Korea UAE 2012,” the exhibition takes place at Abu Dhabi National Exhibitions Company. The three-day exhibition introduces a wide variety of products ranging from healthcare equipment to excavator. Infopia Company, IR Electric Company, Doosan Infracore Company, Caravan Engineered Structures Inc., Korea
May 22, 2012
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Samsung Electronics fined for irregular subcontracting
The Fair Trade Commission said Tuesday that it had fined Samsung Electronics 1.6 billion won ($1.4 million) for irregular practices in its transactions with subcontractors.This is the second time that Samsung Electronics has been fined for unfair subcontracting, as the company was fined 11.5 billion won by the antitrust regulator four years ago.According to the FTC, the memory chipmaker engaged in 28,574 cases of irregular subcontracting, equivalent to 76.3 billion won between 2008 and 2010.A to
IndustryMay 22, 2012
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MS chief in Korea for new OS
Ballmer meets developers, Korean firms to discuss partnershipsMicrosoft chief executive Steve Ballmer was eager to sell the firm’s upcoming Windows 8 software during his two days in Korea.Calling this year the “launch year of Windows 8,” he spent most of his keynote speech discussing the competitiveness of its new and upgraded software designed for wireless gadgets and computers at the Seoul Digital Forum on Tuesday.“This year, 350 million Windows devices will be shipped in the world,” he said a
IndustryMay 22, 2012
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Shares jump 1.64 percent on global market gains
South Korean stocks surged 1.64 percent Tuesday following Wall Street and European market gains and bargain hunting for big caps, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index jumped 29.56 points to 1,828.69, in the second straight session of gains following last week’s sharp drop caused by eurozone jitters.Trading volume was moderate at 416 million shares worth 4.79 trillion won ($4.11 billion), with gainers outpacing losers 664 t
May 22, 2012
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STX shares rebound on expectation of liquidity recovery
Shares of STX Group subsidiaries rebounded for a second day on Tuesday upon news that STX Heavy Industries will receive early payments for its construction project in Iraq which are expected to ease the conglomerate’s financial troubles. STX Heavy Industries is set to receive more than 700 billion won ($601 million) about a month earlier than previously scheduled for the construction of a diesel power plant in Iraq, according to company officials.About $384 million will be wired from Standard Ch
IndustryMay 22, 2012
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Korea’s external debt tops record $400b
South Korea’s external debt rose to a record high in the first quarter mainly due to overseas investors buying local bonds and banks’ foreign borrowing, the central bank said Tuesday.The country’s external debt totaled $411.4 billion as of the end of March, up $13 billion from the previous quarter, according to a report by the Bank of Korea. The country held $275.1 billion in long-term foreign debt, with short term debt totaling 136.3 billion.The size of South Korea’s debt is not a source of con
May 22, 2012