Most Popular
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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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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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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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More med professors to take day off each week while govt. urges them to stay
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South Korea to launch space security center under spy agency
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Hybe refutes Ador CEO Min's denial of breach of trust
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Consumers’ inflation expectations dip in Feb.
Korean consumers’ inflation expectations eased slightly in February from the previous month, the Bank of Korea said Friday.South Korean consumers expect inflation in Asia’s fourth-largest economy to reach a yearly average of 4 percent over the next 12 months, according to a survey by the BOK. In January, the median expectation for the inflation rate stood at 4.1 percent.The February reading was slightly lower than the previous month’s data, but inflation expectations failed to fall below the 4 p
Feb. 24, 2012
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Ex-Nonghyup executive tapped to head NH Financial
The National Agricultural Cooperative Federation, or Nonghyup, tapped Shin Choong-shik, former senior vice president of the organization, to be chairman of the NH Financial Group that will launch on March 2.Nonghyup’s ad hoc committee on personnel management said on Friday that it had decided to recommend Shin to head the financial group and its affiliate Nonghyup Bank. The new financial group will be established as a result of separating Nonghyup’s business operations into two ― the financial a
Feb. 24, 2012
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Asan Nanum to launch venture capital fund for CEO hopefuls
More than 200 policymakers, industry specialists and startup founders gathered on Friday at a forum in Seoul to discuss ways to boost venture capital funding and foster healthy business environments for young entrepreneurs.The Asan Nanum Foundation, a charity run by Hyundai Heavy Industries and its affiliates, hosted the one-day event as the latest in a string of its programs to back startup hopefuls in Korea. Among the participants were the charity’s founder and ruling party lawmaker Chung Mon
IndustryFeb. 24, 2012
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Household income disparity widened in 2011: report
The income disparity between the rich and the poor in Korea widened last year as the proportion of the middle class shrank, data showed Friday. According to the report by Statistics Korea, Gini’s coefficient, the indicator showing the income gap between the wealthy and the poor, stood at 0.311 in 2011, up from 0.310 a year earlier, suggesting the equality level for income distribution worsened. Another indicator ― the market income ratio that compares the upper 20 percent and the lower 20 percen
Feb. 24, 2012
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Sohn Kyung-shik reelected as Seoul chamber chief
CJ Group chairman Sohn Kyung-shik was reelected as the chairman of the Seoul Chamber of Commerce and Industry during its general assembly, its chamber officials said Friday.In a unanimous vote, Sohn’s term as chief of the Seoul chamber composed of the country’s largest businesses was extended by three years. Sohn began leading the SCCI in November 2005. “Due to the economic crisis in European countries, our economy is also going through tough times,” said Sohn. “I’ll give my utmost efforts to re
Feb. 24, 2012
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Korea targets $13b in foreign investment
The Seoul government said Friday it will step up investor relations and focus on attracting projects with major employment plans this year, targeting $13 billion in foreign investment.Foreign direct investment in Korea reached $13.67 billion last year.“The Korea-U.S. free trade agreement, which goes into effect on March 15, will be a good opportunity to not only raise the competitiveness of our exports to the U.S., but also to make Korea a more attractive place for foreign investment,” Knowledge
Feb. 24, 2012
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Korean won expected to strengthen further
Solid fundamentals, foreign investors’ bond purchases boost value of the local currencyThe Korean won stays strong amid a flurry of reports that its value might go up further on the strength of foreign investors opting for Korean bonds. The local currency strengthened 2.5 percent as of Feb. 24 from of January against the U.S. dollar, outpacing the euro (0.9 percent) and the Japanese yen (1.8 percent), according to the Bank of Korea. HSBC said in a recent report that the Korean won is likely to f
Feb. 24, 2012
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Over 80% of adults hold credit cards
More than eight in every 10 adults in Korea own at least one credit card, a poll showed Friday, indicating plastic money has become the main means of settlement in Asia’s fourth-largest economy.According to the survey of 2,000 people aged 20-70 by the Korea Consumer Agency, 1,647 respondents, or 82.4 percent said they have at least one credit card.Of the tallied holders, 24 percent answered they have only one credit card, with the percentage for those with two and three standing at 30.7 percent
Feb. 24, 2012
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Study: Clouds losing altitude globally
Researchers say the sky is falling, after a fashion, as data from a U.S. satellite show clouds around the world are losing altitude.If future observations confirm that as a trend, it could have an important effect on global climate change, they said.“We don’t know exactly what causes the cloud heigh
TechnologyFeb. 24, 2012
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Korean Air names chairman’s children as board directors
Korean Air on Thursday named Hanjin Group chairman Cho Yang-ho’s daughter and son as board directors in an apparent step to solidify their path to eventual succession. The airliner’s board of directors approved senior vice presidents Heather Cho and Walter Cho as board directors, raising the number of internal board directors to six.Korean Air also named two more outside directors Hana Financial Group chairman Kim Seung-yu and Woongjin Group vice chairman Lee Joo-seok, raising the number of outs
IndustryFeb. 23, 2012
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Feud deepens over premixed concrete prices
Negotiations collapse between construction, cement, ready-mixed concrete companiesThe rift deepened on Thursday between Korea’s construction, cement and ready-mixed concrete companies as a series of price negotiations ended in stalemate with all sides refusing to compromise.Squeezed by soaring raw material costs, some 750 manufacturers of premixed concrete across the country halted production on Wednesday, saying they are only losing money by running the plants.They demand that builders accept a
IndustryFeb. 23, 2012
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J&J recalls Tylenol over bottle problems
TRENTON, New Jersey (AP) ― Recall-plagued Johnson & Johnson is pulling all infant Tylenol off the U.S. market because some parents have had problems with redesigned bottles, introduced three months ago, that the company touted as a big safety improvement to make measuring doses easier.Instead, 17 parents or caregivers have complained that a protective cover on the top of the bottles didn’t work correctly. It’s meant to limit how much of the liquid pain and fever reducer can be drawn into a plast
TechnologyFeb. 23, 2012
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Voice box surgery a new challenge for doctor
DETROIT ― The little boy who would grow up to become a surgeon at the University of Michigan learned right away ― parts is parts.Dr. Douglas Chepeha started out as a carpenter, making boats and decks and furniture out of scraps of wood; and then, he took that same mental approach into surgery.That’s how he saved Sherry Wittenberg’s voice: He removed part of her shoulder blade and inserted it into her voice box, like a strange home renovation project inside a human body.Chepeha views the human bo
TechnologyFeb. 23, 2012
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FDA to review inhalable caffeine
BOSTON (AP) ― U.S. Food and Drug Administration officials plan to investigate whether inhalable caffeine sold in lipstick-sized canisters is safe for consumers and if its manufacturer was right to brand it as a dietary supplement.AeroShot went on the market late last month in Massachusetts and New York, and it’s also available in France. Consumers put one end of the canister in their mouths and breathe in, releasing a fine powder that dissolves almost instantly.Each grey-and-yellow plastic canis
TechnologyFeb. 23, 2012
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Spring foods
As the nights get shorter and the temperature rises in spring, our muscles relax more and we can become sluggish and tired. People are also generally more physically active in spring which can add to the tiredness. This is accompanied by an increased demand for various nutrients such as protein, vitamins and minerals. As many people have an insufficient intake of them during winter, they may develop spring fever or chronic fatigue. In individuals who had less exercise or activity during winter,
TechnologyFeb. 23, 2012
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Food makers agree to reduce salt
Manufacturers to reduce sodium in 51 products favored by children; ramen makers reluctantThe Korea Food and Drug Administration said it had got agreements from food manufacturers to reduce the salt content of some products. The food agency on Wednesday said makers of sauce, ketchup, salad dressings and retort foods have agreed to voluntarily reduce the amount of sodium used in 51 products popular with children. Makers will reducer the salt content of readymade jjajang, spaghetti and udong sauces
TechnologyFeb. 23, 2012
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Nuclear industry leaders to discuss improving safety on summit sideline
Conference to discuss security of nuclear materials, reduction of HEU useKorea will host its biggest-ever international conference on nuclear power March 23-24 in conjunction with the Seoul Nuclear Security Summit to be held three days later.More than 200 chief executives of nuclear power companies and representatives of related international organizations are expected to attend the 2012 Seoul Nuclear Industry Summit to discuss the role of the nuclear industry in enhancing nuclear security and s
Feb. 23, 2012
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KB Financial expands spending for society
By Kim Yon-seKB Financial Group has been expanding its social contribution activities such as educational programs for students and donations to the needy.In particular, the group’s social foundation is diversifying educational and scholarship programs.Last year, the group set up the KB Financial Public Foundation, specialized in education and research, to support economic and financial research projects.The foundation controls 20 billion won ($17.5 million) of funds donated by KB and its subsid
Feb. 23, 2012
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Samsung sells up to 20 million units of Galaxy S2 worldwide
Samsung Electronics said Thursday that it sold up to 20 million units of its flagship smartphone Galaxy S2 since releasing it in the global market last April.Together with its previous model Galaxy S, the world’s IT behemoth said it sold more than 40 million units of its Galaxy smartphone series ahead of its launch of the next Galaxy S this year. Equipped with the 4.3-inch Super AMOLED Plus display and a dual core processor, the light-weight Galaxy S2 features a slim design, improved from its pr
IndustryFeb. 23, 2012
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POSCO develops lithium extraction technology
POSCO said Thursday its affiliated research center had developed technology to directly extract lithium from seawater that reduced production time from a year to a month.The Research Institute of Industrial Science and Technology succeeded in producing high yields of lithium from salt water using the new technology, POSCO said in a press release. Lithium is a key material for rechargeable batteries used in mobile gadgets and electric cars. Korea imported 11,425 tons of lithium worth $53 million
IndustryFeb. 23, 2012