Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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Using your lunch break to get in shape
More office workers use free time during their workdays for exerciseIf your hectic work schedule is stressing you out and you cannot squeeze in time for exercise, it might be time to consider taking advantage of your lunch break. More people are now investing their lunch time in exercise, from simply taking a walk to weight training. Kim Ji-hye, a 35-year-old office worker at a financial institution, started to take half hour walks after quickly grabbing lunch.“A sandwich and coffee is fine. My
TechnologyNov. 10, 2011
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Private lending market faces major overhaul
Regulator moves to punish lenders for breaching rules on interest ratesA major disruption is expected to hit the private lending market dominated by Japanese firms as Korea’s financial regulators threaten to suspend leading players for violating rules.Amid growing public outcry over the high interest rates charged by private lenders, the initial salvo came on Nov. 6 from the Financial Supervisory Service, which confirmed it was considering suspending major lenders including No. 1 player A&P Fina
Nov. 10, 2011
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Producer price growth sinks to 10-month low
South Korea’s producer prices grew at the slowest clip in 10 months in October as crude oil prices posted more modest gains, which helped offset the local currency’s depreciation to the dollar, the central bank said Thursday.The producer price index, a barometer of future consumer inflation, rose 5.6 percent in October from a year earlier, down slightly from a 5.7 percent on-year gain in September, according to the Bank of Korea.Last month’s data marked the slowest growth since the 5.3 percent g
Nov. 10, 2011
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Gold prices near 7-week high amid Italian woes
Gold prices on both the international and South Korean markets are expected to continue rising as renewed worries on the eurozone, sparked by Italy’s financial woes, prompt investors to scurry for safer assets, data showed Thursday.On Tuesday, the contract for December delivery hit $1,799.2 per troy ounce on the Comex division of the New York Mercantile Exchange, hitting a near seven-week high. The price closed slightly lower on Wednesday but continued to hover near the $1,800 level.Demand for t
Nov. 10, 2011
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Earnings
NCsoft’s Q3 net dives 29% on weak overseas salesNCsoft Corp., a leading online game developer in South Korea, said Thursday its third-quarter income plunged 29 percent from a year earlier on lower revenues from overseas markets. Net profit reached 27.88 billion won ($24.92 million) in the July-September period, compared with 39.5 billion won on year ago, the company said in a regulatory filing.Sales fell 6 percent on-year to 147.6 billion won in the three months, while operating profit slumped 3
IndustryNov. 10, 2011
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Hyundai rush on U.S. demand boosts airline
Hyundai Motor Co.’s race to meet U.S. demand for Elantra and Sonata cars is helping South Korean air-cargo carriers withstand a global freight slump.Korean Air Lines Co., the nation’s biggest carrier, boosted U.S. auto-part shipments 16 percent in the first 10 months as Seoul-based Hyundai and affiliate Kia Motors Corp. ramped up U.S. production because of surging sales. Second-ranked Asiana Airlines Inc. has also seen a pick-up in component shipments that has slowed an overall decline in volume
IndustryNov. 10, 2011
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Money supply growth quickens in September
The growth of South Korea’s money supply picked up in September from the previous month as bank lending to companies expanded and the current account surplus widened, the central bank said Thursday.The country’s M2, a narrow measure of the money supply, reached 1,729.5 trillion won ($1.52 trillion) in September, up 4.2 percent from a year earlier, according to the Bank of Korea.The M2 in September quickened from the 4 percent on-year expansion tallied in August and marked the fastest growth sinc
Nov. 10, 2011
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Nation’s first renewable energy compound completed in Busan
The country’s first compound for testing and producing parts and technologies for renewable energy sources was completed on Thursday.Work on the complex in Buan County, North Jeolla Province, began in 2004, and cost 100 billion won ($88 million), the Ministry of Knowledge Economy said.The compound is divided into a research and testing complex, industrial complex and a complex for experiencing and learning about related technologies. According to the ministry, three state-run research organizati
Nov. 10, 2011
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Samsung donates ‘smart classroom’
Samsung Electronics has established a “smart classroom” and donated it to Nohwa Elementary School on Wando in South Jeolla Province, the company said Thursday.The smart classroom offers an electronic board and dozens of Galaxy Tab 10.1, a tablet PC manufactured by Samsung.The establishment of a smart classroom is part of Samsung’s efforts to boost the learning environment for children living on remote islands in Korea. The digitalized classroom works by connecting students’ Galaxy Tabs and an el
IndustryNov. 10, 2011
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NEXON to join venture with China game firm
BUSAN ― NEXON announced Thursday that it will set up a joint venture in Korea with Chinese online game developer Perfect World Co.NGL, an abbreviation of Next Game Life, will be headed by NEXON’s Cho Sung-won and will be given priority when choosing among a pool of the Chinese developer’s games to service, Cho said at a press conference held on the sidelines of G-Star 2011.“NGL will be in charge of localizing the contents of games chosen to release by NEXON along with its operations and customer
IndustryNov. 10, 2011
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In Myeong-dong, mobile phones replace credit cards
Telecom operators, credit cards, KCC team up to provide mobile payment systemThe nation’s busiest shopping street in Myeong-dong has been designated as a trial zone for near field communication-based mobile payments from Thursday for three months. It is unprecedented in the world, said the Korea Communication Commission’s Choi See-joong during the launching event held at the popular tourist spot in central Seoul. Visitors who have cell phones with a NFC chip will no longer need to carry their cr
IndustryNov. 10, 2011
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Korea braces for winter power shortage
The government on Thursday mapped out a set of measures to ensure stable electricity supply for this winter including mandatory usage cuts for large firms and maximum temperature limits for commercial buildings.The package is aimed at coping with demand spikes during the winter months and averting the recurrence of nationwide blackouts that battered Korea in mid-September amid an unseasonable heat wave. Knowledge Economy Vice Minister Kim Jung-gwan said his agency will be struggling to maintain
IndustryNov. 10, 2011
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Hyundai, Kia U.S. car sales to top 1m mark this year
U.S. sales of vehicles made by Hyundai Motor Co. and its affiliate Kia Motors Corp. are expected to surpass the 1 million mark for the first time this year, fueled by a surge in consumer demand, the carmakers said Thursday.The two companies, part of the world’s fifth-largest automaker Hyundai Motor Group, said their combined sales in the U.S. market jumped 26 percent on-year to 950,411 units in the first 10 months of this year.Hyundai, South Korea’s largest carmaker, said it sold 545,316 cars in
MobilityNov. 10, 2011
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Savings banks seek state funds
Several banks hope to tap Financial Market Stabilization FundA number of savings banks are seeking state help in securing additional capital, sources said Thursday.“Some of the savings banks have shown interest in receiving support through the Financial Market Stabilization Fund,” an unnamed official with the Financial Services Commission was quoted as saying by a local news agency.According to industry sources, three or four savings banks are seeking state funds.“It is expected that application
Nov. 10, 2011
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SKT makes bid for Hynix
SK Telecom submitted its application to take over Hynix Semiconductor, owned by creditors, as a sole bidder on Thursday.Credit Suisse, one of the co-sale brokers for the deal, received the bid to acquire a 15 percent stake in Hynix from SKT, said officials at Korea Exchange Bank, the main creditor.SKT tendered the last minute application just before the 5:00 p.m. deadline after hours of heated in-house debate over whether to bid amid turmoil following the prosecution’s probe of the SK Group chai
Nov. 10, 2011
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G-Star launches with an array of mobile games
BUSAN ― As the country’s largest game trade show G-Star launched on Thursday, it showcased games designed exclusively for smartphones, the most attention-grabbing trend for this year.Mobile game firm Com2us, which set up its booths at G-Star for the first time, featured up to 15 new mobile games, including “Tiny Farm,” “Escape the Ape,” “Puzzle Family” and “MiniGame Paradise.”“The competitiveness and graphic quality of mobile games are now meeting users’ expectations,” said a Com2us official.Wem
IndustryNov. 10, 2011
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Depression may be linked to dementia later
U.S. researchers say a chemical marker that binds to plaque and tangle deposits indicates dementia may be linked to major depressive disorder in older people."This is the first study using [the marker] FDDNP to assess the abnormal protein levels in brains of older adults with severe depression," Dr.
TechnologyNov. 10, 2011
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S. Korea to push 10% power cuts for manufacturers, limit neon sign use
SEOUL, Nov. 10 (Yonhap) -- The South Korean government on Thursday announced a wide range of measures to prevent recurrence of a recent nationwide power outage that include a 10 percent mandatory power cut by major manufacturers and limited use of neon signs during peak hours.The move follows massiv
TechnologyNov. 10, 2011
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Banks' household loans grow by most in 4 months in Oct.
South Korean banks' household loans grew by the most in four months in October on a rise in mortgage lending, the central bank said Thursday, complicating the government's efforts to curb growing household debt.Local banks' household loans, including home-backed and credit loans, reached 451.8 trill
Nov. 10, 2011
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New drug zaps fat cells in monkeys
WASHINGTON (AFP) - An experimental drug helped obese monkeys lose 11 percent of their extra weight in a month, a promising sign in the hunt for obesity drugs that could apply to humans, US researchers said Wednesday.The drug, known as Adipotide, works by attacking the blood supply of a certain kind
TechnologyNov. 10, 2011