Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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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
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World's smallest four-wheel-drive is a billionth of a meter
PARIS, Nov 9, 2011 (AFP) - Scientists in the Netherlands said on Wednesday they had made a four-wheeled molecule that measures just a billionth of a meter-- 60,000 times smaller than the thickness of a human hair -- and moves in response to a burst of electrons.(Ben Feringa/University of Groningen)T
TechnologyNov. 10, 2011
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Gold prices climb higher amid Italy woes
SEOUL, Nov. 10 (Yonhap) -- 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 del
Nov. 10, 2011
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Samsung introduces new Slate PC
Samsung Electronics on Wednesday unveiled its brand new “Slate PC Series 7,” the combination of a tablet and a laptop.The Samsung’s latest PC, running Microsoft’s Windows operating system, offers the key functions of tablet PCs such as e-books and mobile applications, the tech giant said.“The Slate PC reflects the consumer demands for a device that puts together the benefits of tablets and laptops,” Samsung’s executive vice president Nam Seong-woo said during a media event at the company’s headq
IndustryNov. 9, 2011
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Korea’s jobless rate falls to 2.9% in Oct.
South Korea’s jobless rate fell in October from a month earlier and job creation accelerated at the fastest pace in 17 months, showing signs that long-frozen labor conditions might be thawing, a report showed Wednesday.The jobless rate stood at 2.9 percent last month, down from 3 percent in September, according to the report by Statistics Korea.The rate was also down from 3.3 percent tallied in the same month a year earlier.The report showed that the economy gained 501,000 more jobs last month c
Nov. 9, 2011
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KONEPA to host art festival during 2012 nuclear summit
The Korea Nuclear Energy Promotion Agency and the 2012 Seoul Nuclear Security Summit Preparatory Secretariat will co-host the International Children’s Peace Art Festival in celebration of the summit forum in Seoul early next year, KONEPA officials said Wednesday.The event will be held on the sidelines of the global summit in March and it is expected to raise the next generation’s awareness of the peaceful use of nuclear energy, the officials said. Participants will be creating paintings on given
IndustryNov. 9, 2011
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Hanjin Heavy reaches tentative settlement on labor dispute in Busan
BUSAN (Yonhap News) ― Hanjin Heavy Industries & Construction hammered out a tentative agreement with its unionized workers on Wednesday to end an 11-month-long labor dispute sparked by the shipmaker’s massive layoffs. The provisional deal calls for the shipmaker to reinstate within one year 94 former employees who were laid off in the scheme to downsize the workforce, according to people with knowledge about the agreement. It also requires the Busan-based firm to deliver on what Hanjin Heavy cha
Nov. 9, 2011
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Hyundai, Kia cars win Middle East ‘car of the year’ awards
Four vehicles made by top South Korean automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. have won 2011 Middle East Motor Awards, industry sources said Wednesday.The cars that ranked first in their respective sections were Hyundai’s Accent subcompact and Elantra compact and Kia’s Optima mid-size sedan and Sportage compact sport utility vehicle.The two automakers are the flagships of Hyundai Motor Group, the world’s fifth-largest car manufacturer, with Hyundai sales in the region risi
MobilityNov. 9, 2011
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Most foreign IBs plan to buy more Korean stocks
Seven out of 10 foreign investment banks plan to increase their portion of South Korean stocks next year, citing the country’s solid economic fundamentals and low price valuation, a report showed Wednesday.Citigroup Inc., Barclays Plc and five others said they plan to invest more in South Korean equities, while two players, HSBC Holdings Plc and Royal Bank of Scotland Group Plc, opted to scale back their stock purchases, according to the report by the Korea Center for International Finance. JP M
Nov. 9, 2011
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Finance, trade ministers urge quick approval of free trade deal with U.S.
South Korea’s top trade and economic policymakers urged the National Assembly on Wednesday to quickly ratify the long-standing free trade deal with the United States.The free trade accord, known as the KORUS FTA, was signed in June 2007 and supplemented in late December of last year with minor modifications that mostly deal with the auto industry. The agreement was ratified by the U.S. Congress last month and Seoul is under mounting pressure to follow suit.Lawmakers here, however, remain locked
Nov. 9, 2011
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Nearly 90% of ‘intra-group’ deals granted without competition: FTC
Nearly 90 percent of “intra-group” deals carried out between affiliates of major conglomerates last year were granted without open bidding, the antitrust watchdog said Wednesday.The results are based on an analysis by the Fair Trade Commission of business deals and sales data compiled by 20 affiliates of the nation‘s leading business groups. They consist of 8 advertising, 8 systems integration and 4 logistics companies. The companies were found to have received 9.16 trillion won ($8.23 billion)
Nov. 9, 2011
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Business backing helps Korean sports flourish
Conglomerate chiefs bring funds, facilities and passion to sportsSports in Korea, as with many other areas of Korean society, have advanced at a rapid pace.In some fields such as archery, golf and wrestling, the country has grown to be a force to be reckoned with on the international stage in a relatively short period of time.While the sports themselves are very different, they have one common theme: backing from a business tycoon.Archery in the Olympic Games has been dominated by Korea for dec
IndustryNov. 9, 2011
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Samsung top mobile phone vendor in 3 of 6 regions
Samsung Electronics Co., the world’s No. 2 handset maker, was the biggest mobile-phone vendor in three out of six regions in the third quarter, including Western Europe, a market report showed Wednesday.The report released by Strategy Analytics also noted that Samsung is closely competing with Nokia Corp., the world’s top handset maker, for global dominance as the Finnish firm lost ground in America and Western Europe. Samsung shipped 89.5 million handsets worldwide in the July-September period,
IndustryNov. 9, 2011
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Digital marketing key to staying ahead
The rise of online social networks such as Twitter and Facebook and social commerce services like Groupon are changing the way people do business. For companies, it’s a bewildering challenge that comes with disruptive changes everywhere. Traditional tools won’t work in the digital era, with people exchanging ideas and information about products and services at a frenetic speed. Companies are now scrambling to reconfigure their business models, infrastructure and whatever necessary to stay ahead,
CompaniesNov. 9, 2011
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Credit card loans begin to decline
The amount of Korea’s credit card loans declined for the first time in two years amid intensifying pressure from the authorities. The Financial Supervisory Service and the credit card industry estimate that the total loan balance ― including card loans and cash advance services ― has fallen slightly at the end of September compared to three months earlier. “Preliminary figures show that most credit card firms saw their loans decline in the third quarter of this year,” said an official from the F
Nov. 9, 2011
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KB chief hints at foreign bank buy
KB Financial Group chairman Euh Yoon-dae said on Wednesday local lenders will be given a chance to take over a foreign bank. Euh said more European banks are likely to be on the M&A market and it’s a good opportunity for Korean banks. “I believe Korea Development Bank should take over one of the global banks,” he said without elaborating on whether KB would pursue such a deal. As for the takeover of a life insurance firm, Euh said KB is not interested in a stake in Kyobo Life Insurance since the
Nov. 9, 2011
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SK tries to keep calm over probe
SK Group has come under pressure once again to explain a string of scandals surrounding its chairman Chey Tae-won and his younger brother and vice chairman Jae-won after prosecutors raided the conglomerate’s headquarters in Seoul on Tuesday.Investigators are trying to untangle a web of suspicion involving the chairman’s 100 billion won ($89.4 million) loss from futures trading, group subsidiaries’ 280 billion won investment in a financial firm owned by a former executive and an alleged slush fun
IndustryNov. 9, 2011
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Shares up on eurozone optimism
South Korean stocks inched 0.23 percent up on Wednesday as European optimism boosted investor sentiment but they contined to remain cautious about the region’s worsening debt crisis, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index rose 4.39 points to 1,907.53. Trading volume was moderate at 414.3 million shares worth 5.47 trillion won ($4.9 billion), with losers leading gainers 416 to 395.“The prices were steady all day, just up and
Nov. 9, 2011
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E-Mart to heat up virtual wireless market
No. 1 supermarket chain seeks to launch telecom service to compete with major mobile firmsKorea’s No. 1 supermarket chain E-Mart plans to launch “half-priced” cellphones on Friday ― a move following the retail giant’s recent marketing of ultra-cheap TVs and coffee beans. The leading retailer will start selling the first batch of 1,000 handsets at its 130 outlets nationwide in a partnership with FreeC, a mobile virtual network operator, or MVNO. FreeC, which leases the wireless network capacity o
TechnologyNov. 9, 2011