Most Popular
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Yoon's approval rating plunges to all-time low
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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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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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S. Korea votes in favor of Palestinian bid for UN membership
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Korean art gets spotlight at Venice Biennale 2024
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Police uncover illegal gambling website made by teens, for teens
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Korea mulls Japanese seafood origin labeling
The Agriculture Ministry is considering mandatory origin labeling at restaurants selling pollack and mackerel, responding to fears about radioactivity in Japanese waters. “The ministry began studying measures to enforce origin labeling to help customers filter out Japanese imports,” said a spokesman at the Ministry for Food, Agriculture, Forestry and Fisheries.“We have been promoting honest origin labeling at eateries, but more consumers have been complaining about having to eat seafood without
IndustryMarch 14, 2012
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KT&G to launch pharmaceutical business
KT&G Corp., Korea’s largest tobacco and ginseng product manufacturer, said Wednesday that it will jump into the pharmaceutical business in a bid to diversify its business portfolio.The company said it launched KT&G Life Sciences Corp., formerly known as Mazence Inc., which KT&G acquired late last year to spearhead the business.KT&G said it will focus on developing treatments for cancer and osteoporosis and drugs for atopic diseases, as well as new medicines for diabetes and obesity that Mazence
IndustryMarch 14, 2012
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Rats as good at decision-making as humans: study
Rats are smart, that's a well known fact. But US researchers said Tuesday a series of tests have shown they may be just as good as humans at juggling information in order to make the best decision. A white rat in a laboratoryThe discovery could help scientists better understand how the brain works i
TechnologyMarch 14, 2012
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Scientists claim nuke could stop asteroid Armageddon
A huge asteroid hurls toward Earth. In desperation, scientists send a group of astronauts to blast the deadly rock with a nuclear bomb and save humanity.It is a scenario that has been depicted in Hollywood films, but new a U.S. study suggests that a timely nuclear explosion could save us from a devastating asteroid impact.Scientists at Los Alamos National Laboratory conducted a supercomputer simulation to test the effects of a nuclear weapon on an asteriod, according to Space.com.They “hit” a 50
TechnologyMarch 14, 2012
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Samsung Supplies Apple With Touch Screen for New IPad
Samsung Electronics Co. will supply the screen for Apple Inc.’s new iPad after LG Display Co. and Sharp Corp. didn’t meet the U.S. company’s quality requirements, according to an analyst with iSuppli. Samsung, the world’s top flat-panel maker, currently is the sole vendor of the display for the 9.7-
IndustryMarch 14, 2012
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South Korean researchers to clone mammoth
A private bioengineering laboratory led by disgraced stem cell scientist Hwang Woo-suk said Tuesday that it agreed to work together with a Russian university in cloning an extinct woolly mammoth.The agreement with the North-Eastern Federal University calls for the use of biological samples taken from mammoth remains so they can help make a live animal using a somatic cell nuclear transfer process, the Sooam Biotech Research Foundation said.It said the school in the Russia’s Sakha Federal Republi
TechnologyMarch 13, 2012
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‘Korea will emerge as hub of FTAs’
‘FTA negotiations with China to begin within first half of this year’This is the first of a series of interviews of top officials on FTAs as the Korea-U.S. FTA takes effect on March 15. ― Ed.The free trade agreement with the United States, which goes into effect Thursday, is anticipated to help Korea attract foreign investment in addition to boosting exports to the world’s largest market.“Being a country that depends heavily on trade, our competence means strong exports to the advanced economy,
March 13, 2012
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700 foreigners apply for jobs at Samsung
Samsung Group said Tuesday that 700 foreigners from 47 different countries submitted job applications during its regular recruitment session.This year’s figure is a sharp jump from 130 applicants from 15 countries in 2009 and 500 applicants from 42 countries last year, according to Samsung officials.Samsung’s new recruits, who will have to go through the company’s aptitude test and a series of interviews, will begin work in the latter half of this year.Samsung currently has 2,000 foreign workers
IndustryMarch 13, 2012
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Seoul confirms outbreak of low pathogenic avian influenza
South Korea on Tuesday confirmed an outbreak of a low pathogenic avian influenza virus that is less damaging, both to birds and humans, than a highly pathogenic strain.The outbreak was confirmed at a poultry farm in South Chungcheong Province, where some 100 chickens were showing symptoms of AI, according to the Ministry of Food, Agriculture, Forestry and Fisheries.An initial test had produced positive results for the AI virus in six of 10 chickens tested at the farm.Follow-up tests confirmed th
March 13, 2012
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Korea to improve systems for KORUS FTA implementation
South Korea will step up efforts to streamline regulations, distribution structure and other systems that could hamper the successful implementation of the free trade agreement with the United States, the finance minister said Tuesday.“We will improve inefficient systems such as the complex distribution structure and other regulations that could pose a hindrance to the FTA with the U.S.,” Finance Minister Bahk Jae-wan said during a meeting with other policymakers. He vowed to provide more inform
March 13, 2012
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Hynix Semiconductor hints at production of NAND Flash chips in Wuxi, China
Hynix Semiconductor said Tuesday that it would focus on NAND Flash projects this year, indicating that it may make the chips at its plant in Wuxi, China.Hynix chief executive Kwon Oh-chul said its only overseas plant in Wuxi is capable of producing NAND Flash chips, widely used in wireless devices such as smartphones and tablet PCs, in a press conference. It was the first since SK Telecom’s takeover of the chipmaker.“We’re planning to expand our business boundaries, but we will need to more spec
IndustryMarch 13, 2012
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Hyundai Motor’s Veloster sales brisk in U.S. market
Hyundai Motor saw its U.S. sales of Veloster, a three-door sports car, jump last month on the back of the company’s Super Bowl advertisement.The company’s sales of the Veloster came to 3,240 units in the United States in February, up 91.4 percent from a year earlier.The Hyundai vehicle is vying for the top place in the sport compact segment with BMW’s Mini Cooper and the Fiat 500, which posted sales of 3,686 units and 3,227 units, respectively.The Veloster made a sensation in October last year,
MobilityMarch 13, 2012
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Over half of Koreans use e-learning system
South Korea’s market for online or electronic-learning (e-learning) systems rose sharply last year with more than half of the population aged over three saying they have used such educational aids, the government said Tuesday.Combined sales by the country’s service operators rose 9.2 percent from a year earlier to about 2.45 trillion won ($2.19 billion) in 2011, according to the Ministry of Knowledge Economy.The number of service providers also increased 6.9 percent on-year to 1,656 with the num
TechnologyMarch 13, 2012
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Korea expects tax cuts on U.S.-made cars, wine
The government listed a range of tax benefits Korean consumers will be able to enjoy with the onset of the Korea-U.S. trade pact starting Thursday, in which the biggest price cuts will be on imported cars, wine and fruit. The Free Trade Agreement between Korea and the United States will immediately cut the import tax to 4 percent from 8 percent for all U.S.-manufactured cars, which could save Korean consumers up to 4 million won for a 50 million won vehicle, the Finance Ministry said. “The pact
March 13, 2012
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Seoul shares gain 1.13% on Fed hopes
South Korean stocks rallied 1.13 percent Tuesday as investors raised their sense of optimism toward the U.S. Federal Reserve’s move for a fresh monetary easing, analysts said. The local currency rose against the U.S. dollar.The benchmark KOSPI climbed 22.54 points to close at 2,025.04. Trading volume was moderate at 442.2 million shares worth 5.58 trillion won ($4.96 billion) with gainers outpacing losers 490 to 330. “There is a certain sense of trust that investors are holding onto, like ‘Berna
March 13, 2012
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AmorePacific aims to triple sales in China
HONG KONG (Yonhap News) ― AmorePacific Corp., South Korea’s No. 1 cosmetics manufacturer, aims to nearly triple its sales in China by 2015 as the company continues to tap into one of the world’s fastest growing cosmetics markets, company officials said Tuesday. AmorePacific plans to boost its China sales to $626 million in 2015 from this year’s estimated $230 million, they said.In 2011, the company’s Chinese sales soared 34 percent on-year to $170 million on the popularity of its flagship brand
March 13, 2012
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Kookmin Bank offers direct mobile payment
Kookmin Bank has introduced a direct payment service with only smartphone numbers for the first time in the local banking industry.Customers of the commercial bank are allowed to pay for goods with their smartphones immediately through the app “UbPay.”By registering their bank accounts on the UbPay app, customers can enjoy the direct payment service ― not a monthly-based payment ― only with their phone numbers.Over the past few years, Kookmin Bank has led in comprehensive personal banking servic
March 13, 2012
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KRX plans to strengthen market monitoring: official
Bourse operator to take steps against trades aimed at tax evasionKorea’s bourse said on Tuesday it would beef up its market monitoring as part of efforts to crack down on irregularities, many of which are related to tax evasion. The Korea Exchange, which runs the country’s stock market, said it is now in talks with other government authorities to implement new monitoring rules aimed at uncovering trades made to evade taxes. “The scope of market monitoring will be expanded to include those trades
March 13, 2012
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Seoul’s office market strongest in Gangnam
Economic growth in Korea continued to wane through 2011. But although the region’s manufacturing activity and private spending and investment weakened, the Asia-Pacific office market ended 2011 with a solid upturn in leasing activity. Rent growth was sustained in most markets and strengthening demand fueled flat to declining vacancies. “Office Space Across the World,” one of Cushman & Wakefield’s longest-running annual global publications, examines total occupancy costs for prime space in 68 cou
IndustryMarch 13, 2012
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Haiti takes lesson from Korea’s real-estate system
Recent TV coverage of youngsters singing and dancing along with K-pop idol groups during their recent performances in France has left a deep impression on many Koreans. The Korean Wave is not limited to K-pop; it has also been brought about by Korean dramas. Yet there is another area about to create an additional wave, which is Korean cadastre, a comprehensive record of real estate based.Haitian officials ― Leslie Jean Saint Louis, vice president of the Office of National Cadastre of Haiti; Nico
IndustryMarch 13, 2012