Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Convergence tech offers new growth boost: report
Green biotechnology, intelligent robotics and value added telecom services take the lead in the sectorNew technologies and services are rapidly converging, fueling the growth of South Korea’s high-tech industries such as green biotechnology, intelligent robotics and value added telecommunications services, the Hyundai Research Institute said. In a report titled “Emergence of New Technology Convergence,” Hyundai said a host of convergences are taking place here, prompting policymakers and busin
TechnologyApril 18, 2012
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Blacklist system draws mixed outlook for success
Watchdog predicts cuts in smartphone prices; companies see very limited impact The Korea Communications Commission plans to implement the so-called “blacklist system” in May, which officials predict could drastically transform the nation’s distribution structure for handsets. Currently, telecom companies register an International Mobile Equipment Identity number to activate the service of all new phones they sell, called the “whitelist system.”Under the new plan, however, all cell phones will be
IndustryApril 18, 2012
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KIBWA gets new president
Kim Hyun-joo, chief executive of Sandeul Information and Technology Co., took office as the fifth president of the Korea IT Business Women’s Association on Wednesday.Kim succeeded Kang Eun-hee who was elected last week as lawmaker of the ruling Saenuri Party.The KIBWA congress unanimously voted for Kim, who has led the association’s Daegu-North Gyeongsang branch since 2008, as the new president.Kim has contributed to creating jobs in IT companies run by women and supported start-up businesses in
IndustryApril 18, 2012
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Will robot prostitution become a reality?
Robot prostitutes could become commonplace in the future.In their paper “Robots, men and sex tourism,” published in the journal Futures, Ian Yeoman and Michelle Mars of the Victoria Management School in Wellington, New Zealand, explore a science-fiction prospect of android prostitutes being legalized in Amsterdam by 2050, and how it would impact the economies of countries, as well as on global sex trafficking and the exploitation of sex workers.The possible production and availability of such pl
TechnologyApril 18, 2012
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Apple, Samsung chiefs to meet on patent disputes
The chiefs of iPhone-maker Apple and smartphone giant Samsung have agreed to meet in the coming months to try to resolve patent disputes before the matters go to trial, legal filings showed.At the behest of a San Francisco federal court, Apple boss Tim Cook and Samsung chief Gee-Sung Choi will take part in settlement talks presided over by a judge, according to filings posted online at Foss Patent
IndustryApril 18, 2012
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Dinosaurs put eggs in wrong evolutionary basket: scientists
The fact that land-bound dinosaurs laid eggs is what sealed their fate of mass extinction millions of years ago while live birthing mammals went on to thrive, scientists said Wednesday. Chicago White Sox pitcher Mark Buerhle has a chuckle with "Baby T Rex" animated figure which threw out the first pitch before the game against the Detroit Tigers at at U.S. Cellular Field in Chicago, Illinois, Augu
TechnologyApril 18, 2012
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IMF revises up global economic growth to 3.5% on easing concerns
The International Monetary Fund raised its growth outlook for the world economy to 3.5 percent this year, reflecting the improving economic data for the United States and the softened concerns about the eurozone fiscal debt crisis. In the latest World Economic Outlook, the IMF said the sense of crisis has been eased to some extent. But it warned that the pace of the economic growth in emerging markets is slower than expected and worries over the eurozone problem continue, placing downside risks
April 17, 2012
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Tesco China to have first Korean executive
Homeplus, the nation’s No. 2 discount chain store, said Tuesday that its financial planning and reporting director Christopher Kim has joined Tesco China as a finance executive.Since entering Homeplus in 2002, Kim has served in several positions, managing the company’s performance and developing its mid- and long-term business plans. Kim, who will be serving the job of finance director, is the first Korean executive officer to work at the Chinese operation of the U.K. retail giant, the company s
IndustryApril 17, 2012
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Hyundai Heavy wins $120 million in orders for construction equipment
Hyundai Heavy Industries has grabbed $120 million worth of orders for earth-moving equipment at a trade fair in Europe, the world’s largest shipbuilder said Tuesday.In the deals, the Korean firm will supply 1,050 excavators and 450 wheel loaders to companies from around the world. But the number and nationality of its clients are unclear because some of the contracts were signed through agents, a company spokesperson said. The orders came while the shipbuilder is taking part in the Intermat 2012
IndustryApril 17, 2012
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Intel still looking to buy after Olaworks takeover
Global chip maker continues eyeing tech start-ups for acquisitions, source saysIntel, a leading global chip maker, remains in buying mode and will continue to eye promising venture start-ups regardless of geographical location following its first takeover of a Korean tech firm, a source said on Tuesday.The Korean firm Olaworks, a tech start-up that develops facial recognition technology for smartphones, was founded by KAIST graduate Dr. Ryu Jung-hee in 2006. Olaworks, which has 60 employees,
TechnologyApril 17, 2012
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New iPad to arrive in Korea this week
Apple said Monday that it will roll out the new iPad tablet computer in Korea on Friday but the fourth-generation Long Term Evolution service won’t be supported here. The California-based tech giant said in a press release that the latest iPad will be launched in 12 countries, including Korea, following the first batch released last month in the U.S. and nine other countries. The new retina display iPad will not offer the super-speed LTE service in Korea that it does in most other countries, sin
IndustryApril 17, 2012
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Foreign hospitals to open in FEZs
The Cabinet passed a set of revised ordinances on the detailed conditions and procedures on Tuesday to allow foreign medical institutions in free economic zones.A 600-bed hospital in the Incheon FEZ in Songdo will be the first.Although there is a special law that permits opening foreign medical facilities in FEZs, a lack of rules on procedural details had made it difficult to actually set them up.Under the new enforcement ordinances, the foreign medical institutions to be set up must operate in
April 17, 2012
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LG Display opens new R&D center in Paju
CEO vows to turn Paju R&D into high-tech display meccaLG Display announced Tuesday that it opened a research and development center which would focus on developing next-generation display panels, including the organic light-emitting diode displays, in Paju, Gyeonggi Province.Built on 68,572 square meters of land, the 15-story building will bring together researchers and developers as well as those involved in OLED projects for better performance, according to company officials.According to an LG
IndustryApril 17, 2012
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Korea’s welfare spending to jump after elections: report
South Korea’s welfare related spending is expected to jump by more than 50 trillion won ($44 billion) though such a development will not adversely affect the economy, a report showed Tuesday.According to the Korea Center for International Finance report based on predictions made by global investment banks, outlays to bolster the country’s welfare infrastructure are inevitable outcomes of last week’s parliamentary elections.Both conservative and liberal parties pledged to strengthen welfare progr
April 17, 2012
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BMW 7 series inquiry upgraded by U.S.
U.S. auto-safety regulators upgraded their inquiry into Bayerische Motoren Werke AG’s 7 Series cars that may roll away when parked as they probe transmission defects in an electronic access and ignition system.The U.S. National Highway Traffic Safety Administration said Tuesday on its website that it’s intensifying an investigation it opened in August of about 120,000 vehicles to an engineering analysis, which can lead to vehicle recalls. Some drivers said their 7 Series cars from model years 20
MobilityApril 17, 2012
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Emerging nations need to end export dependency: BOK
Emerging economies of the world should shift to more domestic demand-driven growth in order to push the global recovery forward, South Korea’s central bank governor said.In a speech made at Goethe University in Germany on Monday, Kim Choong-soo stressed that in order for the world to pull off sustainable growth and maintain financial stability, there is a need to forge closer international economic cooperation between emerging and advanced market economies.He added that for the world to move ahe
April 17, 2012
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First forum on the new AEO trade standards kicks off
The first international conference on the new trade paradigm, mainly refering to the Authorized Economic Operator, kicked off in Korea on Tuesday.About 800 senior public officials, business leaders and professors from around the world are attending the three-day forum co-hosted by the Korea Customs Service and the World Customs Organization.The conference is drawing interest as this marks the first global gathering since a group of customs authorities officially introduced the so-called AEO conc
April 17, 2012
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FTC to penalize North Face for flouting fair trade rules
South Korea’s trade watchdog is set to take punitive measures against outdoor brand The North Face Korea for engaging in unfair practices. The Fair Trade Commission is planning to review the issue concerning the American brand and decide the penalty fee. The key charge against The North Face is that it violated fair trade rules by pushing department stores and other sales outlets to keep the prices set by the company, keeping them artificially high. “The North Face forced department stores and s
IndustryApril 17, 2012
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Shares dip on mixed U.S. data, eurozone woes
South Korean stocks closed 0.37 percent lower on Tuesday on mixed economic data from the United States and lingering eurozone concerns, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index, which started trading in positive territory, surrendered 7.33 points to close at 1,985.30. Trading volume was moderate at 439 million shares worth 3.92 trillion won ($3.44 billion), with losers outpacing gainers 416 to 390.The slight drop marks the sec
April 17, 2012
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Fast-fashion brands lead transition in Korea’s clothing retail industry
Before sunrise on March 8 in Myeong-dong, one of Seoul’s top shopping districts, dozens of people lined up in front of an H&M store. Some had spent the night on the street. They were waiting to get limited edition clothing from a collaboration between H&M’s specialty retailer and premium brand Marni. Freezing weather was not their first concern. The “Marni at H&M” edition went on sale that day globally and were sold out in Korea a few hours after the store opened. According to the companies, Ko
IndustryApril 17, 2012