Most Popular
-
1
[Exclusive] Korean military set to ban iPhones over 'security' concerns
-
2
Korean, Romanian leaders discuss defense tech, nuclear energy
-
3
[Graphic News] 77% of young Koreans still financially dependent
-
4
S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
-
5
Yoon’s jailed mother-in-law excluded from latest parole list
-
6
Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
-
7
[Pressure points] Leggings in public: Fashion statement or social faux pas?
-
8
Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
-
9
Aging population to drive down Korea's housing prices from 2040: experts
-
10
North Korea holds drills simulating nuclear counterattack against enemy
-
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
-
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
-
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
-
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
-
LG unveils Google TV in U.S.
LG Electronics unveiled its first Google television during Internet Week in the U.S. with plans to showcase the product in retail chains later next week.The North American subsidiary of the country’s electronics giant is conducting live demonstrations of LG’s Google TV called G2 Series ― the first to run on the U.S. software giant’s upgraded Android 2.0 platform ― at an event in New York this week.“LG is excited to work with Google to bring Google services to TVs, making it easier for consumers
IndustryMay 17, 2012
-
STX mulls selling off assets to secure financial health
STX Group, the nation’s 14th-largest business group, said Thursday that it is considering selling assets to revive its worsening financial health amid the ongoing slowdown in the shipbuilding industry globally. “As part of our financial restructuring, we are discussing plans to directly list STX Energy and STX Heavy Industries or to sell off assets through the establishment of financial restructuring covenants with the Korea Development Bank,” the company said in response to an inquiry from the
IndustryMay 17, 2012
-
Hyundai, Kia struggle against hybrid rivals
Korean carmakers plan to roll out new K5, Sonata hybridsHyundai Motor and Kia Motors have yet to clarify their stance on whether to develop Genesis or K9 hybrid vehicles, though global carmakers are in heated competition to launch eco-friendly models of large-sized sedans.The players manufacturing hybrids for the luxury and premium-luxury segments include BMW, Mercedes-Benz, Audi and Lexus.Spokespeople for Hyundai Motor Group declined to comment on the possibility that Hyundai-Kia would follow s
MobilityMay 17, 2012
-
Koreans’ use of Internet banking up 9.5% in Q1
The use of Internet banking in South Korea accelerated in the first quarter from three months earlier as more people conducted financial transactions online, the central bank said Thursday.Online banking transactions reached an average of 45.23 million per day in the January-March period, up 9.5 percent from the previous quarter, according to the Bank of Korea. The first-quarter data also showed a daily average of 33.18 trillion won ($28.43 billion) being sent online, a gain of 0.5 percent compa
May 17, 2012
-
Credit card spending up 15.9% in April
South Korea’s credit card spending jumped 15.9 percent in April from a year earlier due to modest improvements in domestic economic conditions, a credit association said Thursday.Purchases made with credit cards totaled 42.9 trillion won ($36.7 billion) last month, up 6.6 trillion won from a year earlier, according to the Credit Finance Association. Compared with the previous month, however, products bought with plastic, which include credit, debit and prepaid cards, dipped 0.09 percent.The soli
May 17, 2012
-
Local firms’ overseas direct investment jumps in Q1
South Korean companies’ overseas direct investment soared 18.7 percent on-year to $10.98 billion in the first quarter of this year as firms beefed up their operations abroad, the government said Wednesday.The total is the fifth-largest quarterly overseas direct investment since such data tracking began in 1980, the Ministry of Strategy and Finance said. A record $18.09 billion was recorded in the second quarter of last year.“There has generally been a steady rise in overseas direct investment in
May 17, 2012
-
SK Telecom raises $318m in Swiss franc-denominated bonds
SK Telecom, Korea’s largest mobile carrier, has successfully raised funds in the Swiss bond market, despite Europe’s economic woes.The company said that it issued Swiss franc-denominated bonds worth CHF 300 million ($318 million), with an annual interest rate of 1.75 percent at a maturity of 5 years.The fund-raising was part of plans to seek low-cost capital sources and repay its debt, it said. The company’s outstanding debt stood at 11.6 trillion won at the end of 2011, according to financial s
May 17, 2012
-
Eximbank issues $1.25b in Samurai bonds
Lender succeeds in selling yen-dominated bonds at low interest rates for second yearThe Export-Import Bank of Korea said Thursday it has issued Samurai bonds worth 100 billion yen ($1.25 billion), the largest amount ever to be issued by an Asian institution, despite instability in global financial markets.Samurai bonds are yen-denominated bonds issued in Tokyo by non-Japanese companies, and are subject to Japanese regulations. The maturities are two years for bonds worth 51.4 billion yen, three
May 17, 2012
-
Samsung supplies 40% of handsets with Android, Gartner says
Samsung Electronics Co. sold more than 40 percent of all Android mobile phones in the first quarter as the South Korean manufacturer became the world’s largest handset maker, research company Gartner Inc. said. Global handset sales declined 2 percent to 419 million, dragged down by a drop in low-end handsets, Stamford, Connecticut-based Gartner said on Thursday in a report. Smartphone sales rose 45 percent, the researcher said. Samsung, which also makes screens and other hardware used in smartph
TechnologyMay 17, 2012
-
U.S. economy picks up after early spring slump
WASHINGTON (AP) ― Maybe the U.S. economy’s strength this winter wasn’t just weather-related after all.Home construction is near a three-year high. And factory output has risen in three of the year’s first four months.The data released Wednesday suggest growth in the April-June quarter is off to a good start, helped by falling gas prices and solid hiring gains. Fears of a spring slump are easing.“It’s all very encouraging,” said Paul Ashworth, chief U.S. economist at Capital Economics. “Things lo
May 17, 2012
-
Fed: Several members could support further easing
WASHINGTON (AP) ― Federal Reserve policymakers are open to further efforts to stimulate the U.S. economy if growth falters or threats escalate.Minutes of the central bank’s April 24-25 meeting released Wednesday stated that “several members” thought additional Fed support could be needed if the recovery lost momentum or if the risks to the economy became great enough.The minutes did not spell out what circumstances would trigger further Fed efforts to lower interest rates to boost the economy. B
May 17, 2012
-
Greek turmoil spreads pessimism across markets
NEW YORK (AP) ― The unending turmoil in Greece spread fallout across the financial markets Wednesday. The Dow Jones industrial average fell for the ninth day out of 10, and gold, oil, and the euro all dropped to multi-month lows.Greece called a new round of elections for June 17 after coalition talks to form a government fell apart. The president said depositors were pulling hundreds of millions of euros out of banks, weakening the country’s strained financial system.The main cause for investor
May 17, 2012
-
Lee Won-chang to head new KOBACO
Lee Won-chang, head of the Korea Broadcast Advertising Corp. or KOBACO, was named the new CEO of the soon-to-be-inaugurated organization that will succeed KOBACO.According to a revision approved by the National Assembly in February, the new KOBACO will be inaugurated on May 23. KOBACO’s executive board approved the appointment after evaluating and recommending candidates following an open call for the position, according to the Korea Communications Commission. The 69-year-old Lee is a graduate o
May 17, 2012
-
Bicyclists are preparing for another season
DETROIT ― When Don and Darla Daley dine at restaurants near their Royal Oak, Michigan, home, they no longer drive their car.It’s the same with quick trips to the store or nearby Royal Oak Farmers Market. They hop on the bicycles they bought two years ago ― their favorite form of recreation and exercise.The Daleys are discovering what many people are getting to know. Bicycling is a great route to fun and fitness for people of all ages.In the two years since the Daleys purchased their bikes, Darla
TechnologyMay 17, 2012
-
Seonam Hospital to provide free smoking cessation program
Seonam Hospital is holding a free clinic to help people quit smoking from May 24 through June 28. The program consists of nicotine-dependence measurement; free provision of nicotine patches, gum and candies; once-a-week face-to-face consultation; and regular educational sessions.After the program wraps up, the hospital plans to stay in touch with the patients through SMS messages for another six months to keep them focused on the goal. “Smoking is more than a habit. It is a disease. Seeking prof
TechnologyMay 17, 2012
-
All hospitals to display patents’ rights on site
From August all medical institutions should post patients’ rights and responsibilities on a wall or on LED panels inside their main building, the Ministry of Health and Welfare said Tuesday. According to a relevant law revision that will come to effect from Aug. 2, rights and responsibilities should be exhibited on the walls of reception sections, emergency rooms and websites. The patients have the right to be treated, notified and decide their own treatments; to have their personal information
TechnologyMay 17, 2012