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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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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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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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Business group calls for eased rules on dividend tax
A leading South Korean business organization said Sunday it has requested the government soften taxation rules for dividends companies receive from their domestic and overseas subsidiaries.“Taxes on dividend income are tantamount to double taxation because they are levied after subsidiaries pay corporate taxes,” the Korea Chamber of Commerce and Industry said. “All dividends received from subsidiaries should be exempt from taxation.”Currently, South Korean companies have 30-50 percent of their d
May 20, 2012
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State think tank cuts growth forecast to 3.6%
The state-run Korea Development Institute lowered its forecast of South Korea’s economic growth for this year to 3.6 percent on Sunday, citing global economic uncertainties.The latest projection is down from the 3.8 percent made by the KDI in November and lower than the government’s estimate of 3.7 percent. The think tank also predicted the country’s economic growth to rise to 4.1 percent next year.“The South Korean economy has been stuck in a slowdown since the second half of last year due to w
May 20, 2012
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SK Telecom connects Expo with fast wireless networks
YEOSU ― Entering Yeosu Expo from the bullet train station mainly built for this gala, visitors will face a cluster of spotless and architecturally unique corporate pavilions.One exhibition center, situated at the end of the Northeast edge overlooking the sea, stands out: a three-story pavilion covered with what looks like a giant fishing net, colored in white and shaped like a cloud.This belongs to SK Telecom, Korea’s biggest mobile carrier and the only telecom company to exhibit here.The net sy
IndustryMay 20, 2012
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China’s car dealerships struggle as stockpiles increase
Chinese dealers are struggling with the rising number of unsold cars that’s threatening to deepen price cuts, according to the nation’s biggest automobile dealers’ association.Dealerships for Honda Motor Co., Chery Automobile Co., BYD Co. and Geely Automobile Holdings Ltd. carried more than 45 days of inventory as of the end of April, exceeding the threshold that foreshadows debilitating price cuts, Su Hui, vice president of the auto market division at the state-backed China Automobile Dealers A
MobilityMay 20, 2012
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Color matters
Drivers embrace more colors in their cars with brown becoming the new blackWhen Kia Motors took the wraps off its new premium sedan K9 early this month, the automaker carried out an experiment by introducing the car in brown rather than typical black. Brown is gaining popularity in overseas markets, especially Europe, as the color goes well with the beige seat covers of high-end cars. And now Korean drivers are recognizing the color’s beauty. “Brown is ‘the new black’ in the global car industry
MobilityMay 20, 2012
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Researcher apologizes for study of gay therapy
NEW YORK (AP) _ A prominent retired psychiatrist is apologizing to the gay community for a decade-old study that concluded some gay people can go straight through what's called reparative therapy.Dr. Robert L. Spitzer, formerly of Columbia University, now says he no longer believes his work showed that.For the study, Spitzer had interviewed 200 people who'd claimed some degree of change. The ``fat
TechnologyMay 20, 2012
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S. Korea think tank cuts 2012 growth outlook
South Korea's state-run think tank Sunday cut the nation's growth forecast for this year to 3.6 percent from 3.8 percent estimated in November, citing weakening demand amid a global slowdown. The Korea Development Institute, in its twice-yearly economic forecast report, said however the global economy would likely pick up pace in 2013 to help Asia's fourth-largest economy to expand 4.1 percent
May 20, 2012
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Doctors accidently kill baby
Doctors accidently killed a baby during delivery at a hospital in Aracaju, northeastern Brazil.The tragedy occurred after at least five doctors had tried for six hours to deliver the baby naturally.They struggled as the baby boy’s shoulders became stuck, inadvertently tearing off his head.The 22-year-old mother told her family that she knew something was wrong when one of the doctors shouted “Marcos, are you crazy?”The baby‘s dead body remained inside the mother and had to be removed by Caesaria
TechnologyMay 20, 2012
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Losing sunglasses puts eyes at risk
More than 55 percent of U.S. adults lose or break their sunglasses each year, putting their eyes at risk of sunburn or eye disease, eye experts say.The Vision Council found for those who lost their sunglasses, and the 27 percent of adults who do not wear sunglasses, exposure to ultraviolet radiation could result in result in short-term damage from bloodshot or sensitive eyes, or painful conditions
TechnologyMay 20, 2012
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Woman swallows toothbrush
Israeli doctors say they were able to safely remove a toothbrush from a woman's stomach after she accidentally swallowed it.Bat-El Panker, 24, came home from work May 11, and went to brush her teeth. When she bent over the faucet with the toothbrush in her mouth, she said it slipped down her throat.Panker told Ynetnews she tried to get it out, but to no avail. She rushed to the hospital and had a
TechnologyMay 20, 2012
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Seoul stocks to undergo adjustment weighed down by eurozone woes
South Korean stocks are expected to undergo further adjustments next week, weighed down by mounting eurozone uncertainties and their impact on the global economy,local analysts said Saturday. The country's key stock index, the KOSPI, closed at 1,782.46 onFriday, a drop of 7.03 percent or 134.67 points from a weekearlier, mainly due to fears that Greece may exit the eurozone andconcerns that the
May 19, 2012
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Facebook falls flat in market debut
Facebook stumbled on its first trading day Friday as shares ended barely above the starting price after a glitch-plagued market debut on the Nasdaq that failed to live up to its enormous hype. The stock, priced at $38 on Thursday in the largest-ever initial public offering for a technology firm, eked out a gain of just 0.61 percent to end at $38.23, amid record volume of more than 575 million sh
May 19, 2012
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Asiana Airlines Q1 income posts W32.5b
Asiana Airlines Inc., South Korea’s No. 2 air carrier, said Friday its earnings plunged in the first quarter of 2012 from a year earlier, mainly due to soaring fuel prices.Net income stood at 32.5 billion won ($27.9 million) in the January-March period, down 94.7 percent from the 61.82 billion won recorded a year ago, the company said in a regulatory filing.Sales rose 7.6 percent on-year to 1.35 trillion won last quarter, while operating profit dropped 52.7 percent on-year to 35.48 billion won.A
MobilityMay 19, 2012
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Samsung develops ‘graphene barristor’
Samsung Electronics said Friday that its research team had successfully created a three-terminal active device called a “graphene barristor,” opening the way for the commercialization of graphene.Researcher Park Seong-jun of Samsung Advanced Institute of Technology said that the triode device effectively cuts off electric currents in graphene transistors.The report on the development has been published in the online edition of Science Magazine, according to Samsung.The team developed something a
IndustryMay 19, 2012
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Hana Bank told to punish staff for irregularities
The nation’s top financial regulator ordered Hana Bank to punish 28 employees for irregularities including embezzlement of gift certificates, mishandling of project financing loans and violation of board rules. The Financial Supervisory Service also slapped Hana Bank with 37.5 million won ($32,000) in fines and issued a warning against it on Thursday. Hana Bank employees were found to have fabricated papers to embezzle gift cards worth some 17.4 billion won for three years after June 2008, the F
May 19, 2012
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SK to join China’s city cleanup project
SK Group said it will participate in a large-scale environmental cleanup business in China in coordination with a group of Korean subcontractors.The group’s coming advancement into the Chinese government-led environment sector comes after the country unveiled its project to invest about $530 billion in environmental protection over the next four years.SK Group’ inroads into the overseas business feature group chairman Chey Tae-won’s commitment to “shared growth” with subcontractors.For the overs
IndustryMay 19, 2012
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KOSPI crashes below 1,800 on eurozone woes
Seoul’s financial markets sank on Friday, with the benchmark KOSPI crashing below 1,800 points for the first time in five months as the eurozone crisis deepened.Bank runs and downgraded credit ratings in Greece and Spain, coupled with discouraging U.S. economic reports that caused overnight losses on Wall Street, increasingly unnerved investors. The KOSPI closed at 1,782.46 points on Friday, down 3.4 percent from the day before.Samsung Electronics Co., the biggest blue chip traded on the Seoul b
May 19, 2012
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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