Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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New findings of asteroid impact
Scientists claim they found evidence indicating a major cosmic impact on Earth 12,900 years ago. An international team of researchers, including James Kennett, professor of earth science at UC Santa Barbara, uncovered an almost 13,000-year-old layer of dark sediment beneath Lake Cuitzeo in central Mexico containing materials than can “form only through cosmic impact.”The nanodiamonds and spherules identified in the sediment layer show features that could not have formed through anthropogenic, vo
TechnologyMarch 7, 2012
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#Cheap tablets may rise as threat to Samsung and LG
Cheap tablets looming threat to Samsung and LGDeck: Samsung diversifies lineup to counter threat while LG remains skeptical of their successBy Cho Ji-hyunThe local tablet PC market is being challenged by online shopping malls selling low-priced tablet PCs to consumers here through joining hands with smaller manufacturers.Samsung Electronics, the country’s biggest IT firm, has unveiled plans to release low-tier tablets in the first half of the year, while its rival LG Electronics has no plans to
TechnologyMarch 7, 2012
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Scientists find cancer gene may boost health, weight loss
A potential ground breaking discovery was made when a new research project revealed that mice with an extra dose of a known anti-cancer gene can live a longer, cancer-free life while eating more and staying fitter than others without the gene. Spanish scientists found that not only did mice with an extra copy of the gene known as Phosphatase and tensin homolog(Pten) not get cancer, but also were leaner compared to the control group of mice who ate less, Science Daily reported Tuesday.This sugges
TechnologyMarch 7, 2012
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Earth braces for biggest space storm in five years
The biggest space weather storm in five years is hurtling toward Earth, threatening to disrupt power grids, GPS systems, satellites and airline flights, experts say.(Yonhap News)The brunt of the storm is expected to strike early Thursday and last through Friday, possibly garbling some of Earthlings'
TechnologyMarch 7, 2012
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Moon to blame for sinking of Titanic?
While no one denies an iceberg sank the liner Titanic 100 year ago, there may have been another culprit that put it there, U.S. scientists say -- the moon. Researchers at Texas State University say a once-in-a-lifetime celestial lineup of the sun, the Earth and the moon three months before the si
TechnologyMarch 7, 2012
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New iPad expected to have modest upgrades
NEW YORK (AP) _ Apple is expected to reveal a new iPad model on Wednesday, with a sharper screen and perhaps an option for faster wireless broadband. The upgrades are relatively minor, but the iPad is secure in its position as the king of tablets.As usual, Apple has kept the features of the new devi
TechnologyMarch 7, 2012
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Mitsubishi, Citroen, Fiat to reenter Korea
Three foreign automakers will soon make inroads into Korea as the nation’s import car market continues to expand.Mitsubishi Motors and Citroen have decided to reenter Korea in March and April, respectively. Fiat is fine-tuning the timing of its advancement.Mitsubishi Motors will resume sales in the local market in mid-March after a year-long hiatus.Its official importer and distributor has been changed to CXC Motors from the former MMSK.CXC Motors is poised to open large showrooms for the Japane
MobilityMarch 6, 2012
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S-Oil CEO to leave office this month
S-Oil chief executive Ahmed Subaey will leave office later this month, completing his four-year term, the nation’s third largest oil refiner said Tuesday.A new CEO will be nominated at a board meeting to be held after the company’s shareholder meeting on March 23.Subaey will serve as CEO until the shareholder meeting, S-Oil said.(sophie@heraldm.com)
IndustryMarch 6, 2012
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Retail gasoline prices reach new monthly high in Feb.
Retail prices of gasoline in Korea hit a fresh monthly record in February on the back of escalated tensions surrounding Iran and upbeat economic figures from the U.S. and China, data showed Tuesday.According to the state-run Korean National Oil Corp., the average price of regular gasoline was 1,986.54 won ($1.77) per liter last month, up 5.52 won from the previous high logged in November. That is also 31.46 won higher than in January. Oil prices have been skyrocketing over the last year as persi
March 6, 2012
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‘UAE to place orders for four more nuclear power plants’
The United Arab Emirates is expected to place orders for four more nuclear power plants next year beside the four units currently being built by a Korean consortium, Knowledge Economy Minister Hong Suk-woo said. “I heard that the UAE is planning orders for about four additional nuclear power stations,” Hong said in a press conference in Abu Dhabi on Monday, according to the ministry.About the nuclear power plants currently under construction in the UAE, Hong said the project has great meaning in
March 6, 2012
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Hyundai chief turns to European market
Hyundai Motor chairman Chung Mong-koo left for the 2012 Geneva Motor Show in Switzerland where the company will reveal the All New i20, the carmaker said Tuesday.Chung plans to host a dinner for European dealers of Hyundai and Kia Motors Corp. in Geneva for the motor show as a checkup of sales in the region, the company said.“Chairman Chung’s visit to the Geneva Motor Show means that the group is really trying to make a difference in the European market even as the region is under financial dist
IndustryMarch 6, 2012
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Home shopping channels seek global expansion
Company officials say foreign consumers show keen interest in Korean-made productsLocal home shopping channels, are competing to gain an early edge in overseas markets, especially in Asia where the popularity of Korean pop culture is still going strong. In Vietnam, the nation’s top three players ― CJ O Shopping, Lotte Home Shopping and GS Shop ― have jumped into the race to dominate one of the fastest growing retail markets in the world. CJ O Shopping, affiliated with food and entertainment gian
IndustryMarch 6, 2012
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SMEs facility investment plans near crisis level
Small and medium enterprises in South Korea are planning to scale back their investments in facilities amid a bleak economic outlook, with their plans nearing the level seen in 2009 in the aftermath of the global financial crisis, a report showed Tuesday.In a survey of 3,070 SMEs by policy lender Industrial Bank of Korea, 32.3 percent of the companies said they have plans for facility investment this year, down 8.7 percentage points from a year earlier.The figure marks the lowest level since 34.
March 6, 2012
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Shares sink on renewed fear of global slump
Korean stocks closed 0.78 percent lower Tuesday, as renewed worries over a global economic downturn prompted by China’s cut in its growth target kept investors at bay, analysts said. The local currency lost ground against the U.S. dollar. After opening 0.16 percent higher, the benchmark Korea Composite Stock Price Index soon reverted to lose 15.70 points to close at 2,000.36. Trading volume was moderate at 544.9 million shares worth 5.22 trillion won ($4.64 billion) with decliners far outpacing
March 6, 2012
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KRX income rises reigniting dispute over trading fees
The Korea Exchange saw its operating income rise last year, reigniting a dispute about the current trading fee system.The KRX, the country’s bourse operator, earned 421.2 billion won ($375.3 million) in operating income last year, up 6.3 percent, or 25.3 billion won, from a year earlier. Of the operating income, trading fees accounted for 342.2 billion won. The sizable profits are providing ammunition to brokerages and financial firms, which demand a cut in trading fees. The improved earnings fo
March 6, 2012
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Dividends for chiefs of top 10 conglomerates drop 23.1 percent
Hyundai-Kia Group chief Chung Mong-koo tops list with 45.6 billion wonHyundai Motor Group chairman Chung Mong-koo is to receive the greatest dividends among chiefs of the nation’s 10 largest conglomerates this year, beating his brother and last year’s No. 1 Chung Mong-joon, the major shareholder of Hyundai Heavy Industries.Heads of the top 10 conglomerates in asset value, excluding public companies and privatized public firms, will receive a total of 171.6 billion won in dividends this year from
IndustryMarch 6, 2012
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FSS hits snag in magnetic strip phaseout
Regulator has its hands tied as consumers reluctant to replace their outdated cardsKorea’s financial regulator hit a snag in implementing an overhaul of the credit card system to replace magnetic strip cards with those with an integrated circuit.The Financial Supervisory Service announced in late January that it would push for the change, but confronted problems, such as consumer complaints and the absence of mandatory measures. The FSS said the planned change that would bar consumers from using
March 6, 2012
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King Sejong shows the way for business meetings today
Historical records show the famous king turned court meetings into exchanges of productive ideasHave you ever been in a business meeting wondering why you are there? In typical Korean corporate culture where junior staff members are supposed to remain meekly silent while the boss demands fresh ideas, meetings are, if anything, costly time-wasters. Business meetings have three negative associations: boring, tiring, unnecessary. And the most serious issue is that most meetings get wrapped up with
IndustryMarch 6, 2012
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Shinwon eyes big leap with luxury fashion
Chairman Park says his company will introduce VanHart Homme brand this spring in collaboration with Italian celebrity designer Al Bazar Lino.Shinwon Group, a leading fashion retailer, was one of the first South Korean companies to enter the inter-Korean industrial complex in Gaeseong, the North Korean border town, in 2004.Despite the political tension between the two Koreas, Shinwon chairman Park Sung-chul still has no doubts about the decision he made eight years ago.“North Koreans are skilled
IndustryMarch 6, 2012
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Customs agency seizes 1,471 kg of gold in smuggling crackdown
Korea’s customs office said Tuesday it has seized a total of 1,471 kilograms of gold in its crackdown on smuggling attempts over the past four years as rising international gold prices have encouraged people to ship out the precious metal for profit.The amount was the result of crackdowns enforced from 2008-2011 in a total of 74 cases, according to the Korea Customs Service. All of it was confiscated as it was being smuggled out. This marks a contrast from the previous four years when 6,768 kilo
March 6, 2012