Most Popular
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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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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Builders face bankruptcy amid property slump
Limkwang Engineering & Construction’s application for court receivership Thursday sent jitters across similar-sized builders in a liquidity crisis due to excessive project financing amid a prolonged property market slump.A reduction in public construction orders and the inability to redeem project financing loans have pushed scores of construction companies to the verge of bankruptcy.Pressed by surety obligations on project financing loans and a lack of new orders, Limkwang, ranked 40th in the c
IndustryNov. 18, 2011
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Seoul shares nosedive 2% on eurozone crisis
South Korean stocks closed 2 percent lower on Friday as rising borrowing costs in Spain fueled fears that the eurozone debt crisis is spreading, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 37.5 points to close at 1,839.17. Trading volume was moderate at 328 million shares worth 4.71 trillion won ($4.14 billion) with losers outpacing gainers 631 to 206.“Jitters about the eurozone debt turmoil battered investor sentime
Nov. 18, 2011
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Lone Star allowed to sell KEB to Hana Financial
FSC paves the way for the country’s biggest banking takeover amid protestsKorea’s financial regulators on Friday paved the way for Lone Star Funds, convicted of stock manipulation, to take huge premiums from selling its stake in Korea Exchange Bank. The nine-member panel of the Financial Services Co
Nov. 18, 2011
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Amazon may be planning smartphone: Citi analysts
Amazon, which began shipping a tablet computer this week, may be eyeing the smartphone market.Citigroup said in a research note published on Thursday that it believes the Seattle-based online retail giant plans to launch a smartphone next year."Based on our supply chain channel checks in Asia led by
TechnologyNov. 18, 2011
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Google opens music store to US, challenge to Apple
LOS ANGELES (AP) -- Google unveiled its much-anticipated digital music store Wednesday, opening a new front in its battle with Apple to provide services over mobile devices.For the first time, Google Inc. will sell songs on the Android Market, its online store for apps, movies and books. The service
TechnologyNov. 17, 2011
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Nine officials to determine fate of Lone Star Funds
Attention focused on whether stern measures will hit U.S. buyout fundThe nine-member panel of the Financial Services Commission is scheduled to unveil its measures against Lone Star Funds, convicted of stock rigging, on Friday.The members include FSC Chairman Kim Seok-dong, Financial Supervisory Service Gov. Kwon Hyouk-se, FSC Vice Chairman Choo Kyung-ho, Vice Finance Minister Shin Je-yoon, Korea Deposit Insurance Corp. president Lee Seung-woo, and Bank of Korea senior deputy Gov. Lee Ju-yeol. F
Nov. 17, 2011
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New minister Hong faces mountain of challenges
Hong Suk-woo secured the reputation of a “man with no enemies” while at the helm of the two state-run agencies.Now, though, he faces hurdles surrounding knotty issues such as power supplies, fuel prices and co-prosperity between large and small firms.Hong, a former chief of the Korea Trade-Investment Promotion Agency and the Small & Medium Business Administration, was sworn in as Knowledge Economy Minister on Thursday. The swift approval of Hong’s nomination following a parliamentary hearing on
IndustryNov. 17, 2011
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‘Thrombosis on the rise’
The number of thrombosis patients is on the rise, the National Health Insurance Corp. warned Monday. Thrombosis is risky as it is directly linked with heart attacks and strokes. According to an NHIC report, the number of people diagnosed with coronary embolism or artery thrombosis, has increased 34.2 percent between 2006 and 2010, marking an annual 8.3 percent growth. Men were 30 percent more susceptible to the disease than women. “Some studies suggest that sitting on a chair too long could rais
TechnologyNov. 17, 2011
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Metabolic issues linked with bladder stones
People with metabolic syndrome are more likely to have bladder stones, a group of local researchers claimed Tuesday. According to Dr. Park Hyeong-geun of Asan Medial Center’s research on 34,895 people over 20 years old, those suffering hypertension, diabetes, hyperlipidemia or obesity 70 percent more likely to have bladder stones. Bladder stones are solid masses found in the bladder. They can cause severe lower abdominal and back pain, difficult urination, frequent nocturnal urination, fever, pa
TechnologyNov. 17, 2011
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Red ginseng may help middle-aged women
Regular intake of red ginseng could help women overcome post-menopause syndrome, a group of local doctors here said. Dr. Lee Byung-seok and Dr. Seo Seog-gyo of Severance Hospital studied a total of 72 women between the ages of 45 and 60 who had been through menopause. Half of them were given ginseng while the other half were given placebo. Twelve weeks later they found that women who took in red ginseng had less cholesterol and thinner carotid, which means a lower chance of cardiovascular diseas
TechnologyNov. 17, 2011
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State health insurance premiums to rise 2.8%
The national health insurance premium will increase 2.8 percent next year from this year, the Ministry of Health and Welfare said Tuesday. Salaried worker subscribers will pay 5.8 percent of salary as premium up from the current 5.64 percent ― an average monthly increase of 2,355 won. For self-employed or unemployed people, average monthly premiums will go up 2,095 won.Medical fees from clinics or hospitals will rise by an average of 2.2 percent.But half the price of dentures for those 75 or old
TechnologyNov. 17, 2011
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Strength training’s not just for bodybuilders anymore
DETROIT ― The variations have new names but center on the same main principle ― whether you yank on suspension bands, pull stretchy rubber tubes, heft a bulbous low-tech kettlebell or pump traditional free weights, you’re moving your muscles against resistance. That’s what burns calories while building healthy, attractive lean muscle tissue. Both lead to weight loss, a firm physique and a raft of other benefits.Strength training is a growing trend, according to the annual survey by the American
TechnologyNov. 17, 2011
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Doctors call for cholesterol test for kids aged 9-11
CHICAGO (AP) ― Every child should be tested for high cholesterol as early as age 9 ― surprising new advice from a government panel that suggests screening kids in grade school for a problem more common in middle age.The idea will come as a shock to most parents. And it’s certain to stir debate.The doctors on the expert panel that announced the new guidelines Friday concede there is little proof that testing now will prevent heart attacks decades later. But many doctors say waiting might be too l
TechnologyNov. 17, 2011
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Hospitals rush to open addiction clinics
About 680,000 people diagnosed with depression or other mental illness as of 2010Seeing therapists or doctors to get treatment for addiction or mental illness is nothing to be ashamed of. According to the Health Ministry, about 680,000 people have been diagnosed with depression or other forms of mental illness as of 2010. In 2010 there were 23,806 adolescents between the ages of 10 and 19 receiving treatment for depression, up 15 percent from 2006. Still, in Korea many shun medical help for psyc
TechnologyNov. 17, 2011
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Daewoo Shipbuilding wins $500m order
Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Thursday that it has won a US$500 million deal to build two ships.Under the contract in a joint venture with Brazil’s Odebrecht and France’s Technip, Daewoo Shipbuilding will deliver pipe-laying support vessels by August 2014, the company said in a statement.The vessels will be chartered to Petroleo Brasileiro SA for deep-water oil explorations, according to Daewoo Shipbuilding.Daewoo Shipbuilding has won deals valued
IndustryNov. 17, 2011
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Number of self-employed people in 50s or older hits all-time high
The number of self-employed people in their 50s or older in South Korea reached an all-time high in October, as baby boomers tended to start their own companies after retiring from other careers, data showed Thursday.According to the data provided by Statistics Korea and the labor ministry, the number of self-employed people in their 50s or older totaled 3.1 million last month, up 169,000 from the same month a year earlier. This marked the highest count ever, and compared with 2.42 million talli
Nov. 17, 2011
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Sales up at discount chains, department stores
Sales at South Korea’s major discount chains and department stores rose in October from a year earlier on growing demand, a government report showed Thursday. Combined sales by the country’s three major discount chains rose 5.5 percent last month from a year earlier, a turnaround from the previous month’s 1.1 percent shrinkage, according to the report by the Ministry of Knowledge Economy. Sales at the discount chains grew across the board. Sports items, food products, household necessities and c
IndustryNov. 17, 2011
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ABS issuance down 5.6% in 3rd quarter
The issuance of asset-backed securities in South Korea slipped 5.6 percent in the third quarter from a year earlier, led mostly by state-run firms, the financial regulator said Thursday.ABS sales by local financial firms and mortgage agencies totaled 6.53 trillion won ($5.77 billion) in the July-September period, compared with 6.91 trillion won the previous year, according to the Financial Supervisory Service.The decline came as public firm Korea Housing Finance Corp. scaled back issuances of mo
Nov. 17, 2011
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Finance minister calls for biz efforts to lower costs
South Korea’s economic chief urged businesses Thursday to keep up efforts to lower production costs and minimize marketing expenses in a bid to help stabilize consumer prices.Finance Minister Bahk Jae-wan noted that the government will do its part in stabilizing prices by improving the distribution structure, easing regulations and lowering import duties on raw materials.“Companies need to absorb price-raising factors as much as possible by cutting production costs and minimizing marketing expen
Nov. 17, 2011
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Samsung to launch modified Galaxy Tab in Germany next week
Samsung Electronics Co. said Thursday that it will begin sales of a modified version of its Galaxy Tab tablet computer in Germany next week, as it seeks to bypass a sales ban asserted by Apple Inc. in the European country. The revised Galaxy Tab 10.1 for the German market has been renamed the Galaxy Tab 10.1N and has two design modifications from the original version, the company‘s spokesman in Seoul said. The remark confirms earlier reports by German media. In the new model, Samsung modified th
TechnologyNov. 17, 2011