Most Popular
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Samsung under pressure after Intel's foundry spin-off: analysts
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Yoon leaves for Prague to cement nuclear energy push
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Heavy rain to fall nationwide over weekend, but warmer fall expected
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Seoul chastises predatory pricing claims over Czech nuclear export deal
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YouTuber under fire for consoling former singer accused of bullying
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NK newspaper 'unusually' silent on new missile tests: Seoul
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Samsung CEO introduces ‘bold growth’ as new target
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Bank of Korea eyes rate cut after US Fed's historic pivot
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3 suspects apprehended for selling celebrity deepfake porn: police
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Hyundai Motor officially becomes KT’s largest shareholder
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FSS to punish Samsung Card for massive customer data leak
The Financial Supervisory Service is set to take disciplinary action against Samsung Card for leaking customer information.The credit card firm’s CEO Choi Chi-hun also faces a regulatory sanction for allegedly negligent internal control.According to the FSS and police, the personal information of about 1.92 million customers of Samsung Card was leaked by a former employee between January 2010 and August 2011.FSS officials say punitive measures against the company and its CEO are inevitable.The r
March 7, 2012
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Samsung refuses to confirm Apple’s proposal on patent litigation
Samsung Electronics on Wednesday said it was unable to confirm news reports that Apple put forward proposals to the firm that would settle some pending patent litigation cases.“We can’t confirm the reports at this point, but it is not true that we held an emergency meeting of executives involving the issue and our position on the ongoing patent battle with Apple remains the same,” said a Samsung official.On Wednesday, Dow Jones cited an anonymous source as saying that Apple made proposals to Sam
IndustryMarch 7, 2012
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Vice Minister Shin warns of foreign capital inflow into bonds
Vice Finance Minister Shin Je-yoon on Wednesday said the inflow of foreign capital into the local bond market is a concern, projecting worries about yet another round of speculative capital inflow. “Foreign investors have been upping their share of Korean bonds and it is a concern,” Shin said at a business forum.Foreign investors in February raised their holdings of Korean bonds by the most since July last year. Their net holding of local bonds rose by 1.8 trillion won ($1.6 billion) to 86 trill
March 7, 2012
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Mobile money faces developed-world challenge
BARCELONA ― Instances of the so-called tail wagging the dog abound. Add to that club mobile-money services, the idea that you can make financial transactions of all kinds using only a cellphone.The technological brawn, sophisticated banking and widespread financial literacy seemingly required to deploy mobile-money programs are, of course, heavily concentrated in the developed world.Yet it’s in places lacking that infrastructure, such as sub-Saharan Africa, where the idea has actually taken hold
TechnologyMarch 7, 2012
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Low-priced tablets hope to take on the big boys
Samsung diversifies lineup to counter threat, while LG remains skeptical of their challengeThe local tablet PC market is being challenged by online shopping malls selling low-priced tablet PCs to consumers here by 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 roll out another tablet PC in the first quarter.“We’re aiming to div
TechnologyMarch 7, 2012
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'Shrinkable car' makes parking a breeze at high-tech fair
Scientists at the world's biggest IT fair unveiled on Tuesday what they hope is the car of the future that can shrink to fit tight parking spaces and pick you up at the touch of a button. (AFP)At just 2.10 metres (seven feet) long, the futuristic cobalt-blue two-seater "pod" is not exactly roomy but
TechnologyMarch 7, 2012
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High oil prices forecast to last a while
Global oil prices are expected to remain high for the foreseeable future, fueled by geopolitical risks caused by Iran‘s suspected nuclear program, local think tanks said Wednesday.Leading private think tanks such as Samsung Economic Research Institute and Hyundai Research Institute said the steady rise in crude prices in recent months stems from mounting uncertainties that can be triggered by a showdown in the Middle East.“The current situation comes from plentiful liquidity in the market and th
March 7, 2012
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Samsung, LG TVs thinner than iPad, undermine Sony, Panasonic
Samsung Electronics Co. and LG Electronics Inc., the world’s two biggest TV makers, want to widen their lead over Japanese rivals by using new display technology in 55-inch sets thinner than Apple Inc.’s iPad. The South Korean companies are developing organic light- emitting diode, or OLED, televisions that are as thin as 4 millimeters (0.16 inches) and produce images 200 times sharper than current liquid-crystal-display models. Both plan to start selling OLED sets as early as this year, while S
TechnologyMarch 7, 2012
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Korea to take preemptive action against danger factors: minister
South Korea will maintain its current economic policy stance but will be ready to take preemptive action against any danger factors facing the country‘s economy, the finance minister said Wednesday.“Though our economy sees continued improvement in employment and other major indicators, it is still difficult to let our guard down in the face of external risk factors such as high oil prices and the eurozone fiscal crisis,” Bahk Jae-wan told a meeting with other policymakers.“An economic slump come
March 7, 2012
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Bank household loans rebound in February
South Korean banks’ household loans rose moderately in February from the previous month on increased demand from households moving to new homes, the central bank said Wednesday. Local banks’ household loans, including home-backed loans and credit loans, reached 452.7 trillion won ($402 billion) as of the end of February, up 0.5 trillion won from a month earlier, according to preliminary data of the Bank of Korea. Lenders’ household loans rebounded in February after dipping by 2.8 trillion won in
March 7, 2012
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Korea‘s economic slowdown ’moderating‘: think tank
South Korea’s economy is slowing down, but its downward pace seems to be “moderating” despite the lingering eurozone debt problems, high oil prices and other cloudy global economic conditions, a state-run think tank said Wednesday.Inflation is also showing signs of stabilizing, easing worries that higher price levels could dampen the country‘s overall economic recovery going forward, according to the Korea Development Institute.“The Korean economy is slowing down at a moderating pace and the inf
March 7, 2012
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Korean scientists develop way to commercially use carbon dioxide
A group of South Korean researchers has developed a way to commercially utilize carbon dioxide, the main cause of global warming, that may also offer a new approach to dealing with climate change, the government said Wednesday.The team from Pohang University of Science and Technology (POSTECH) has successfully produced carbonic anhydrase, an enzyme that catalyzes the interconversion of carbon dioxide and water to bicarbonate and protons that, in turn, could produce substances widely used in indu
IndustryMarch 7, 2012
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Korea‘s money supply grows 0.3% in Jan.
South Korea’s money supply edged up 0.3 percent in January from the previous month on the rise of short-term money trusts, the central bank said Wednesday. The country‘s M2, a narrow measure of the money supply, reached a seasonally adjusted 1,757.6 trillion won ($1.56 trillion) in January, compared with 1,752.1 trillion won the previous month, according to the Bank of Korea. Compared with one year earlier, the M2 also expanded 4.9 percent in the month. Since January, the central bank began rele
March 7, 2012
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Korean pop culture beneficial to business: poll
The popularity of South Korean popular culture in Asia and other parts of the world is beneficial to businesses seeking to expand overseas, a poll showed Wednesday.The survey on 300 companies conducted by the Korea Chamber of Commerce and Industry showed 51.9 percent of the respondents saying the Korean wave contributing to greater sales abroad.The Korean wave, or “hallyu,” refers to the popularity of TV shows and music that have secured hordes of fans in Asia, Europe and the American continent.
March 7, 2012
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Container cargo at Korea‘s seaports surges in Feb.
The amount of container cargo processed at South Korea’s seaports rose 14.1 percent from a year earlier to an all-time high for February on growths of both export-import cargo and transshipments, the government said Wednesday.The amount of container cargo handled at the country‘s seaports last month is estimated to reach 1.67 million 20-foot-equivalent units (TEUs), according to the Ministry of Land, Transport and Maritime Affairs.“This is the largest volume ever recorded in February, which was
March 7, 2012
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Samsung to take energy-saving steps
South Korea’s largest conglomerate Samsung Group said Wednesday it plans to draw up energy-saving measures this month as high oil prices are expected to hurt its profitability.“The global economic downturn and continuation of high oil prices are weighing on the Korean economy and the costs of using energy is rising,” the group said in a statement.High oil prices are one of the biggest threats to the Korean economy, which relies almost entirely on imports for its oil needs.South Korea is the worl
IndustryMarch 7, 2012
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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