Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Korean, Romanian leaders discuss defense tech, nuclear energy
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Medical standoff deepens as doctors reject new med school plan, talks
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N. Korea sends economic delegation to Iran amid suspected military cooperation
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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Samsung, Microsoft jointly develop upgraded server system
South Korean tech firm Samsung Electronics Co. said Thursday it has developed an upgraded server solution in cooperation with Microsoft Corp. to provide customers with a system of a high level of performance and efficiency. The so-called "Green Server Solution" utilizes Samsung's 20 nanometer-c
TechnologyMarch 2, 2012
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Apple, Samsung lose patent cases against each other in Germany
Apple Inc. and Samsung Electronics Co. both lost patent cases against each other in a court in Germany on Friday in the latest twist in the long-running battle between the two electronics powerhouses over mobile phones and tablet computers.The Mannheim Regional Court turned down Samsung’s attempt to
TechnologyMarch 2, 2012
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Consumer price growth slowest in 14 months
The growth of consumer prices dropped to its lowest in 14 months in February, while worries over inflationary pressure continue mainly due to skyrocketing oil prices.Statistics Korea data showed Friday that the nation’s consumer prices climbed 3.1 percent in February from a year earlier, which marked the lowest year-on-year growth since 3 percent in December 2010.In January, year-on-year price growth came to 3.4 percent. An official at the statistics agency attributed the fall to a drop in publi
March 2, 2012
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Foreign IBs eye Korea‘s current account surplus for Feb.
International investment banks estimate Korea may have posted a current account surplus for February due mainly to its global market competitiveness, a report showed Friday.According to the report by the Korea Center for International Finance, Barclays Capital, Morgan Stanley and Deutsche Bank all assessed Korea’s current account balance to have shifted back into the black last month from a deficit of around $800 million in January.The January deficit marked the first time in two years the month
March 2, 2012
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EUCCK under tax investigation
The National Tax Service is investigating the European Union Chamber of Commerce in Korea for allegations of dodging taxes from possible profits it made through advertisements on their magazine, the tax authority said on Thursday.“The Namdaemun branch of the tax agency began their probe on the EUCCK last week to study revenue the non-profit organization made from collecting advertising fees,” an NTS official told The Korea Herald.The probe will tell whether the EUCCK has made any taxable income
March 1, 2012
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Tax officials to get access to Swiss bank accounts
The Korean government will be able to gain access to hidden Swiss bank accounts held by its citizens, which could help trace illegal slush funds and prevent tax evasion, officials said on Thursday.The National Assembly early this week ratified a provision on information sharing in the Korea- Switzerland tax treaty, taking the National Tax Service a step closer to accessing secret bank accounts in the world’s biggest haven for offshore wealth. The Swiss parliament is expected to follow suit in Ju
March 1, 2012
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Scientists develop photocatalyst for solar hydrogen production
Scientists have developed a photocatalyst that can significantly increase the efficiency of producing hydrogen from sunlight, the government said Thursday.The Ministry of Education, Science and Technology said a research team led by Lee Jae-sung, a professor of chemical engineering from the Pohang University of Science and Technology (POSTECH), devised a method to make large quantities of hydrogen.Hydrogen is a key natural resource and has the potential to be used in next generation power cells
TechnologyMarch 1, 2012
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Agency to start daily space weather alert services
The National Radar Research Agency (RRA) said Thursday it will start offering daily three-day forecasts on space weather activities for the general public.The state-run agency said the alert service will be launched Friday with information to be offered through the Internet homepage of its Korean Space Weather Center (www.spaceweather.go.kr). Users can also receive data by e-mail or mobile phone text messages.By monitoring and forecasting the Earth’s surrounding space environment, which is mainl
TechnologyMarch 1, 2012
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Nonghyup to launch financial group Friday
Nonghyup Financial Group will make its debut on Friday as the fifth-largest out of the 11 finance holdings firms on the national market.The new group is an entity which has been spun off from the National Agricultural Cooperative Federation, or Nonghyup.Nonghyup has decided to separately operate its financial and its agricultural products businesses for the first time in 51 years.Though Nonghyup Financial, also called NH Financial, lags behind the four major financial groups ― Woori, Hana, KB an
March 1, 2012
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Korean Air picked as best in China
Korean Air Lines Co., South Korea’s No. 1 flag carrier, said Thursday it has been selected as the best airline brand in China by a Chinese travel magazine.The Travel and Leisure Tourism Award recognizes the extensive flight services provided by Korean Air in China, and the efforts made to upgrade service, the airline company said. The company has also been at the forefront of making social contributions to help Chinese communities.The latest accolade comes after Korean Air won the monthly travel
March 1, 2012
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Crude oil imports rise 13.2% in Feb.
Korea, the world’s fifth- largest oil importer, increased purchases of crude by 13.2 percent in February.Imports rose to 80.1 million barrels in February from 70.7 million a year earlier, the Ministry of Knowledge Economy said in an e-mailed statement Thursday, without giving reasons for the rise. The nation’s crude-import bill increased 34.6 percent to $9.4 billion as prices rose 18.9 percent to an average $117 a barrel, it said.Korea, which imports almost all of its oil, urged companies and in
March 1, 2012
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Korea, China open preliminary meeting on FTA
Korea and China opened a two-day preliminary working-level meeting in Seoul on Thursday to discuss how formal negotiations between the two countries to conclude a free trade agreement will be conducted.The meeting will be a place to set the “framework of negotiations” with the aim of launching official talks before the end of June, according to news reports.The reports said the Korean government will propose to divide negotiations into two ― one dealing with sensitive issues like farm products a
March 1, 2012
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Hyundai Motor to support 2013 Universiade
Hyundai Motor has been selected as a sponsor for the 2013 Summer Universiade, which will be held in Kazan, the capital of the Republic of Tatarstan, a federal subject of Russia.The carmaker will support about 1,100 vehicles such as the Equus and Avante, dubbed Solaris in the Russian market, for the biennial sports event.It will also offer 340 buses for transportation of more than 10,000 student players from about 170 countries under a contract with the organizing committee.Hyundai Motor signed a
March 1, 2012
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LG Electronics wins U.S. Energy Star Partner award
LG Electronics Inc., one of South Korea’s leading consumer appliance manufacturers, said Thursday it has won a 2012 Energy Star Partner of the Year award.The honor, given by the U.S. Environmental Protection Agency and the U.S. Department of Energy, recognized LG’s steady contributions to reducing greenhouse gas emissions by making energy efficient products.The award, which was launched in 2001, also lauded the company’s efforts to educate consumers about eco-friendly products.Last year, 406 pro
TechnologyMarch 1, 2012
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Korea posts trade surplus of $2.2b in Feb.
Korea posted a trade surplus of $2.20 billion in February buoyed by a steady rise in overseas demand for locally made goods, a government report showed Thursday. The favorable trade balance is a turnaround from the $2.03 billion deficit tallied for the previous month, according to the monthly report by the Ministry of Knowledge Economy.Exports came to $47.18 billion last month, up a solid 22.7 percent on-year, with imports jumping 23.6 percent to $44.98 billion, the report said.“Overseas demand
March 1, 2012
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Google implements controversial new privacy policy
Google’s controversial privacy policy revamp was put into effect Thursday, although the Internet giant was under pressure from regulators and civic groups in Korea who voiced concerns over its plan to merge user data.Under the new scheme, information from some 60 Google services such as its flagship search engine, Gmail and YouTube will be treated as a single trove of data.The consolidation of private data has prompted privacy concerns globally, as it appears almost impossible to opt out of Goog
IndustryMarch 1, 2012
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Retail giants in competition to cut prices
Big discount stores cut prices of everyday goods amid increasing inflationary pressureThe country’s two largest discount store chains are making moves to cut prices of daily goods for up to one year amid the government’s effort to curb inflationary pressure.Homeplus said Thursday that it is offering an average of 13 percent discount ― ranging from 5 to 50 percent ― on 400 different everyday goods at its 126 chain stores and internet shopping sites until February next year. The discounted items i
March 1, 2012
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Financial sector lags behind global leaders: KCCI poll
Korea’s competitiveness in the financial sector lags behind global leaders such as the United States and Britain, a poll indicated Thursday.The survey carried out on 158 chief executive officers from the country’s financial firms, assessed the local industry’s competitive rating at 67.6 of a possible 100 points, the Korea Chamber of Commerce and Industry said.The possible 100 points is a benchmark set by the KCCI to reflect the perceived competitive level of leading U.S. and British financial in
March 1, 2012
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Builder sentiment posts modest gains in Feb.
Business sentiment among Korean builders made modest gains in February after plunging to a 17-month low the previous month, a report showed Thursday.The monthly construction business sentiment index gained 4.4 points from a month before to reach 66.7, according to the report by the Construction and Economy Research Institute of Korea.An index reading below 100 indicates pessimists outnumber optimists.“The figure represents an improvement compared to January’s tally, but still highlights the seri
March 1, 2012
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Breeding top global banking firm still elusive dream for Korea
Korean banking groups are pumping up efforts to boost their overseas profiles amid a rapidly saturating domestic market, but going global remains an elusive dream for them due to a litany of hurdles, market watchers say. Although there is an urgent need to nurture local banking groups into global players and further promote the competitive edge of the local financial sector, the task is riddled with challenges, both internal and external.The challenges include the fragile recovery of the global
March 1, 2012