Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
3
Nicaragua shuts down Seoul embassy
-
4
Medical reform committee kicks off despite boycott from doctors
-
5
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
6
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
7
SK hynix pledges W20tr to ramp up DRAM production at home
-
8
Over 9,000 hotline calls made by stalking victims in 2023
-
9
[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
-
10
DP leader says he will meet Yoon without conditions
-
Korea’s economic growth outpaces OECD average
Korea outgrew the average economic output of Organization for Economic Co-operation and Development member countries in the final quarter of last year, data showed Thursday, showing the country’s relative resilience against external economic risks.The South Korean economy expanded 3.4 percent on-year in the October-December period, compared with an average growth of 1.3 percent of OECD member countries in the same period, data showed.The fourth-quarter average economic growth of OECD countries w
Feb. 23, 2012
-
BMW Korea aiming for 15% sales rise in 2012
The chief executive of BMW Group Korea, the local importer and distributor of BMW AG, said Friday that the German carmaker expects a 15 percent jump in its sales in 2012 from a year earlier on the back of its popular models.“Last year we sold some 27,000 units of BMW and Mini models. We expect the sales of BMW brand cars to rise 13 percent and Mini sales to soar by 40 percent,” Kim Hyo-joon said in a press conference.“Adding the sales of 1,000 units of Motorrad bikes, BMW Korea will see a 15 per
MobilityFeb. 23, 2012
-
Shares end 1.03% down on foreign sell-offs
Korean stocks finished 1.03 percent lower Thursday, as foreign and institutional investors cut shares after recent surges, analysts said. The local currency fell against the U.S. dollar. The benchmark KOSPI fell 20.85 points to 2,007.8. Trading volume was heavy at 678 million shares worth 6.28 trillion won with losers leading gainers 491 to 337. “Sell-offs from foreign and institutional investors dragged down the index,” said Kwak Joong-bo, an analyst at Samsung Securities Co. “The KOSPI probabl
Feb. 23, 2012
-
CJ Group accuses Samsung of trailing its chairman
High-profile conflict between two groups takes a nasty turnTwo South Korean conglomerates with close ties ― Samsung Group and CJ Group ― clashed on Thursday over alleged illegal surveillance in connection with the drawn-out inheritance fight tracing back to Samsung’s late founder.CJ Group filed a formal complaint with the police against an employee of Samsung C&T Corp., a construction and trade unit of the country’s biggest chaebol group Thursday afternoon after putting out a scathing press rele
IndustryFeb. 23, 2012
-
Earnings outlook darkens on external risks: experts
Analysts projected earnings to drop at major listed firms on the KOSPI as export conditions deteriorate with still-elevated oil prices and eurozone output contracting.FnGuide, the most widely accessed financial information provider here, lowered the earnings forecasts this week for 108 companies listed on the KOSPI to 81.3 trillion won ($72 billion), down 7.98 percent from the 88.3 trillion won it made in September.The downward adjustment came as the index climbed up almost 400 points from the d
Feb. 23, 2012
-
Experts discuss limitations of capitalism
The Korean government explored the limitations of capitalism and shared insights into what could be done by hosting an international forum on Thursday in Seoul.At the Global Korea 2010 forum, President Lee Myung-bak urged the country’s conglomerates to do more to carry out their increased social responsibilities and foreign experts also expressed their views on where capitalism, faced with greater challenges, should go. “We need to abstain from unbridled jungle-like competition in the market and
Feb. 23, 2012
-
Hanwha shares suspended for one trading session
Shares of Hanwha Corp. will be suspended from stock trading for one session due to its negligent regulatory posting, the bourse operator said Thursday. The holding company of Hanwha Group, a family-owned conglomerate, has been blacklisted by the bourse operator as “a negligent firm” which has delayed posting necessary investor information on its regulatory filings, the Korea Exchange said. Because it failed to follow set rules, the company’s shares will not be traded on the main bourse for the w
Feb. 23, 2012
-
Korea to expand incentives to curb inflation pressure
Korea will grant more incentives to municipal governments for their anti-inflation efforts in a bid to encourage their cooperation in keeping rising prices from hurting the nation’s overall economy, the top economic policymaker said Thursday.Korea has been wrestling with high inflation, mostly driven by rising oil and food prices. For 2011, the nation’s consumer prices jumped 4 percent from a year earlier, hitting the upper ceiling of the central bank’s 2-4 percent target band.“We will increase
Feb. 23, 2012
-
Listed firms’ cash dividend sinks 7.2 percent in 2011
Korean listed firms’ cash dividend paid out to their shareholders shrank 7.2 percent in 2011 from a year earlier, largely due to a decrease in the payouts by top-cap Samsung Electronics Co., data showed Thursday.The combined cash dividend paid out by 224 firms listed on the main bourse stood at 8.83 trillion won ($7.82 billion) in the 2011 fiscal year as of Feb. 21, compared with 9.52 trillion won in the previous fiscal year, according to the data by the Korea Exchange. The cited firms include t
Feb. 23, 2012
-
Finance minister voices worries over excessive welfare demands
Korea’s top economic policymaker voiced concerns Thursday over “excessive” welfare demand, saying that such populism-driven policies could end up shifting burdens to future generations.“Excessive welfare deriving from populism dampens the will to work, undermines fiscal soundness and shifts the burden of payment to the next generation,” Finance Minister Bahk Jae-wan said in a speech at an international forum in Seoul.“Unnecessary welfare benefits handed out now will boomerang on the next generat
Feb. 23, 2012
-
Samsung Fire to cut premiums on car cover
Samsung Fire & Marine Insurance Co., Korea’s largest nonlife insurer, said Thursday it will slash its auto insurance premiums by an average of 2.2 percent.Samsung Fire’s move came after a recent decision by the local financial regulator and the industry to mark down car insurance premiums amid worries over the country’s rising inflation, which has increased the cost of living in the country. The No. 1 nonlife insurer’s proposed rate is 0.1 percentage point lower than it initially offered, accord
Feb. 23, 2012
-
Samsung Techwin wins order for Saudi plant
Samsung Techwin Co., a South Korean power systems, automation and defense contractor, said Thursday that it won a deal to supply industrial air compressors to a Saudi gas plant.The company, which did not go into details about price, said it will supply 17 compressors that can be used to make gas oil to the Shaybah natural gas liquids plant complex in the Middle Eastern country. The NGL plant is being built by Samsung Engineering Co. Both Samsung Techwin and Samsung E&G are part of the Samsung Gr
Feb. 23, 2012
-
E-commerce sales jump to all-time high
Korea’s e-commerce sales jumped to an all-time high in 2011 as cyber transactions grew sharply between businesses, a government report showed Thursday.Online sales totaled about 999 trillion won ($884.9 billion) last year, up 21.2 percent from the 824 trillion won tallied in the previous year, according to the report by Statistics Korea.Business-to-business transactions, which accounted for more than 90 percent of all cyber sales, came to 912.56 trillion won, up 22.1 percent from a year earlier.
IndustryFeb. 23, 2012
-
Facial cosmetic surgery shaves off 9 years
TORONTO (UPI) -- Patients looked almost nine years younger than they actually were after facial cosmetic surgery, researchers in Toronto found.Dr. Nitin Chauhan of the University of Toronto and colleagues attempted to quantify the change in perceived age, which may provide objective evidence of the
TechnologyFeb. 23, 2012
-
S. Korean scientists develop enhanced container for hydrogen fuel
South Korean scientists have developed an enhanced material to contain hydrogen fuel that could significantly reduce the size of containers while holding more fuel, the government said Thursday.The new material could help speed up the development of hydrogen-fuel cars while improving the efficiency and overall competitiveness of such vehicles, as it will help reduce the size of fuel tanks, according to the Ministry of Education, Science and Technology. The ministry partly funded the research by
TechnologyFeb. 23, 2012
-
Study: Y chromosome not going 'extinct'
A study has contradicted the notion the male sex-determining Y chromosome is steadily shedding genes and is doomed to degenerate, U.S. researchers say. In a 2002 article in Nature, two Australian researchers examined the rate at which the Y has withered and estimated it "will self-destruct in aro
TechnologyFeb. 23, 2012
-
Study: 1-of-6 U.S.surgeons abuse alcohol
More than 15 percent of U.S. surgeons in an anonymous survey self-reported disorders consistent with alcohol abuse or dependence, researchers said.Dr. Michael R. Oreskovich of the American College of Surgeons in Chicago and the University of Washington, Seattle, and colleagues collected more than 7,
TechnologyFeb. 23, 2012
-
Google developing ‘smartglasses’: report
Google is planning to introduce new high-tech sunglasses equipped with a computer screen in one lens that steams information directly into your eye, the New York Times reported Wednesday. This image is not directly related to the story (Vuzix homepage)Nick Bilton of the newspaper wrote th
TechnologyFeb. 23, 2012
-
Honda recalling 46,000 vans to fix rear doors
2010 Honda Odyssey minivans sit on display at AutoPark Honda dealership in Cary, North Carolina, U.S. (Bloomberg)DETROIT (AP) _ Honda is recalling nearly 46,000 Odyssey minivans in the U.S. because the rear doors can fall on people unexpectedly, and have on at least two occasions.The problem affects
MobilityFeb. 23, 2012
-
Antitrust watchdog to probe retail giants in March
The nation’s antitrust watchdog said Wednesday that it will launch a large-scale investigation into unfair business practices at major department stores and supermarket chains next month. The Fair Trade Commission also plans to revise a leniency program so that when two companies are caught price-fixing only the first declarer has its fines cut.“We will look into how commission cuts, agreed in September, are carried out at 11 major retailers and whether there are any illegal business activities
IndustryFeb. 22, 2012