Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SK hynix pledges W20tr to ramp up DRAM production at home
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hyundai eyes domestic sales of 700,000 cars
Hyundai Motor Co., South Korea’s largest carmaker, said Friday that it is targeting to sell 700,000 vehicles in the domestic market this year, up 2.4 percent from 2011.Hyundai Motor, which sold 683,570 units locally last year, said competition in the domestic market is expected to be fierce this year and a free trade deal with the U.S., expected to go into effect in the next few months, could make foreign-made cars more competitive.“Imported cars are expected to compete more aggressively for dom
MobilityJan. 13, 2012
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Samsung, LG flex muscles with high technologies
CES ends after featuring thousands of OLED and 3-D smart TVs, tablets, smartphones, ultrabooksLAS VEGAS -- The 2012 International Consumer Electronics Show showcased a wide array of gadgets over four days here from 3-D and smart televisions to tablet PCs and ultrabooks to the new Organic Light-Emitting Diodes TV.The event, organized by U.S.-based Consumer Electronics Association, was joined by 2,700 exhibitors and 140,000 people from 140 different countries from Jan. 10-13.“At CES, we’re in the
TechnologyJan. 13, 2012
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Top 30 business groups to invest W151.4tr this year
The nation’s 30 largest conglomerates said on Friday they will increase investment by 12.3 percent to 151.4 trillion won ($131.5 billion) this year.They also said they will hire 123,000 new people this year, up 2.2 percent from last year, during a meeting with Knowledge Economy Minister Hong Suk-woo. Executives of the top business groups by asset value told Hong they will raise recruitment of high school graduates by 6.9 percent to 37,261 people. Large-scale investments include development of ne
IndustryJan. 13, 2012
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Hyundai Motor files suit against union leaders
Hyundai Motor Co. sued two union leaders on charges of illegally directing a strike at engine plants this week, demanding the carmaker compensate a union member who set himself ablaze in protest.It is highly unusual for a Korean company to take legal action against a union leadership that is less than two months old.Hyundai Motor said on Friday it filed a suit against union chief Moon Yong-moon and vice chief Kim Hong-kyu for obstruction of business to the Ulsan Dongbu Police Station.The carmake
IndustryJan. 13, 2012
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Shares up on smooth Europe debt sales
Korean stocks ended 0.6 percent higher Friday, as good debt sales in Italy and Spain whetted investor sentiment with more hope for a resolution to the eurozone crisis, analysts said. The local currency gathered ground against the U.S. dollar. The benchmark KOSPI gained 11.11 points to 1,875.68. Trading volume was moderate at 468.1 million shares worth 5.87 trillion won ($5.1 billion) with gainers outnumbering losers 432 to 384.“Spain sold twice as much debt than it wanted and that certainly came
Jan. 13, 2012
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General Motors may move Korean work to Europe: report
GM Korea CEO resigns suddenly; Buttermore assumes interim chiefGeneral Motors is considering moving car production from South Korea to Europe, the British Telegraph newspaper said Friday. The plan, yet to be confirmed, is intended to revive the troubled Opel and Vauxhall arms, the Telegraph said, adding that some Chevrolet production lines might be transferred back to Europe to bolster its production lines there.“We are not going to comment on speculation, but management, the works council and t
MobilityJan. 13, 2012
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Tiny frog claimed as world's smallest vertebrate
NEW ORLEANS (AP) — A frog that can perch on the tip of your pinkie with room to spare has been claimed as the world's smallest vertebrate species, out-tinying a fish that got the title in 2006. But the discoverer of another weensy fish disputes the claim.A tempest in a thimble, some might say.
TechnologyJan. 13, 2012
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BOK freezes key interest rate for 7th month
South Korea's central bank on Friday left the key interest rate unchanged for the seventh straight month due to still-high consumer inflation even as the eurozone debt crisis is feared to dent economic growth.Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers held the benchmark 7-da
Jan. 13, 2012
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Study finds no better odds using 3 embryos in IVF
LONDON (AP) — A new study of fertility treatment found that women who get three or more embryos have no better odds of having a baby than those who get just two embryos.They also have a greater chance of risky multiple births."Women who have gone through infertility treatment want the best cha
TechnologyJan. 13, 2012
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Cable TV operators again threaten to stop relaying terrestrial TV programs
The nation's cable TV system operators (SOs) took bold action on Thursday to prompt terrestrial TV networks to charge lower fees for using their programs, threatening to stop relaying both standard and high-definition programs of the terrestrial channels early next week. The SOs and thre
IndustryJan. 12, 2012
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Special attention needed to knee joints during winter
The knee is the largest joint in the human body. Because it is located central to the lower extremities, it is susceptible to trauma. Many people are vulnerable to an injury to the knee joint because of traffic accidents, falling and sports/exercise. Particularly during the winter season, the number of patients who injure themselves falling increases because of sports (e.g., skiing and boarding), icy roads and muscle stiffness.Patients frequently sustain a sports injury because of the overflexio
TechnologyJan. 12, 2012
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Dispute arises again over whether to fluoridate tap water
The nation is abuzz once again over whether the fluoridation of tap water should be expanded to the entire country for the sake of public health.The issue came to a head as the Ministry of Health and Welfare announced on Tuesday that adding fluoride to tap water at a density of 0.8 ppm has proven effective in preventing dental cavities in children. A research team from Wonkwang University studied 9,000 elementary school students divided into two groups ― one group living in areas with fluoridate
TechnologyJan. 12, 2012
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Farm losses from FTA with China
Damage to Korea’s farming industry from a free trade agreement with China may reach up to $2.8 billion, reports said Thursday, urging the Seoul government to be cautious in its FTA negotiations with China.During his trip to Beijing, President Lee Myung-bak agreed with Chinese counterpart Hu Jintao to declare the official start of negotiations for an FTA within the next month or two.A report from the Korea Institute for International Economic Policy said production by the country’s agriculture an
Jan. 12, 2012
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British chamber’s labor law workshop
The British Chamber of Commerce will hold a workshop in Seoul on Jan. 17 to discuss reforms of the retirement pension and severance rules for all employees.Patrick J. Monaghan, senior foreign legal consultant at Kim and Chang law firm, will speak about outsourcing and expansion of the discretionary working system and leveling the playing field between large corporations and small and medium enterprises.Monaghan is a member of the firm’s labor and employment practice and advises both foreign and
Jan. 12, 2012
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School to lecture on business innovation
IE Business School will offer a free lecture and networking evening with as guest lecturer, the school’s chair of the Entrepreneurship Management Department.Pablo de Holan is a popular professor of strategy at IE Business School and will present the school’s 4th lecture in a series on global business innovations on Jan. 13 from 7 p.m. at the COEX Convention Center Hall C room 318 A in southern Seoul.Titled “The Giant Within: How Businesses Grow Thru Entrepreneurship and Innovation, A review of r
Jan. 12, 2012
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Conglomerates agree to expand investments
The Federation of Korean Industries on Thursday pledged to make aggressive investments and hire more workers this year despite a gloomy outlook for the global economy. The seven members of the lobby for big businesses, along with FKI chairman Huh Chang-soo, held their first meeting this year at the Lotte Hotel Seoul in central Seoul on Thursday. The nation’s top 30 conglomerates agreed to continue investments this year. In 2011, they had planned to invest 11.5 trillion won and hire 1 million new
IndustryJan. 12, 2012
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Seoul suspected of inflating oil development deal with UAE
The South Korean government is suspected of having exaggerated an oil development deal with the United Arab Emirates, which it earlier claimed would “guarantee” participation by South Korean companies, informed sources said Thursday.The government had claimed its memorandum of understanding, signed with the UAE early last year, would entitle the country to a production-sharing-agreement at one of the Middle Eastern country’s six production mines with more than 1 billion barrels of oil in confirm
Jan. 12, 2012
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Web surfing overtakes voice calls for smartphone users
Korean smartphone users preferred using their handsets for Web surfing rather than for voice calling and text messaging, a government survey found Thursday. The Korea Communications Commission and the Korea Internet and Security Agency questioned 4,000 smartphone and tablet PC users aged between 12-59 in November. According to the survey, 42.4 percent of respondents cited the Internet and mobile apps as their main purpose of smartphone use, while voice calling and text messaging make up 39.3 per
IndustryJan. 12, 2012
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Eximbank to invest more despite global slowdown: CEO
The Export-Import Bank of Korea has unveiled its policy to increase its investment in developing natural resources in overseas markets by 900 billion won ($789 million) this year.The state-run bank will pour 2.8 trillion won into enterprises’ exploitation of overseas natural resources in 2012, its chairman and president Kim Yong-hwan told a news conference on Thursday.The figure for the project is a sharp increase from the bank’s investment of 1.9 trillion won in 2011.“European banks are expecte
Jan. 12, 2012
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Medical fees to go down at designated clinics
The government has decided to discount medical fees for people who designate neighborhood clinics as their primary care facilities, the Ministry of Health and Welfare said Wednesday. The new system comes into effect starting in April.Currently, 70 percent of outpatient medical expenses are covered by the national health insurance program, but for those who register a nearby clinic as their primary care unit the coverage will be increased to 80 percent, leaving only 20 percent up to the patients,
TechnologyJan. 12, 2012