Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Court upholds jail term for man who attempted to murder ex-girlfriend
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S. Korea to boost support for single-parent families
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Yellow dust engulfs S. Korea, advisory alert issued
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Lee Jong-sup resigns as envoy to Australia
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Korea starts extracting lithium from sea
Korea has completed the construction of its first offshore plant to extract lithium from seawater in a bid to supply spiraling demand for the scarce metal in the automobile and electronics industries.The “Seawater Lithium Research Center” located in Gangneung in the country’s east entered test-production and will develop technology to churn out 30 tons of high-purity lithium carbonate annually sta
July 14, 2011
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Asia emerges as key exhibition market: UFI
Asia’s increasing clout and resilience in the wake of an economic meltdown are steering growth of the exhibition industry, said Paul Woodward, managing director of UFI, the global association of the tradeshow business.Combined with the Pacific islands including Australia and New Zealand, he said the budding sector in Asia has expanded more than 50 percent over the past five years in terms of size
IndustryJuly 14, 2011
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Hyundai-Kia best-selling car firm in Canada
Hyundai’s Sonata gets top marks in U.S. consumer surveyKorea’s Hyundai Motor Co. and its sister company Kia Motors Corp. ranked as the best-selling passenger carmakers in Canada in the first half of this year, industry sources said Thursday.The two leading automobile makers in South Korea sold a combined 64,671 passenger cars in the North American country in the January-June period for a market sh
IndustryJuly 14, 2011
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Samsung chip lines ‘not linked to cancer’
GIHEUNG, Gyeonggi Province ― Samsung Electronics’ semiconductor manufacturing lines were not responsible for or directly linked to leukemia and related cancers diagnosed in former company employees, a report by an independent agency showed on Thursday. Representatives of Environ, a U.S.-based consultancy specializing in environmental and health issues, announced the results of the study commission
IndustryJuly 14, 2011
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Sales at discount outlets rise in June
Sales at Korea’s major discount outlets and department stores rose from a year earlier in June on growing demand for groceries and goods for outdoor activities, a government report showed Thursday.Combined sales of the country’s three major discount outlets rose 2.7 percent in June from the same period last year with those of three leading department stores rising 8.2 percent on-year, according to
IndustryJuly 14, 2011
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POSCO to buy shares in Canadian coal mine
POSCO, Korea’s leading steelmaker, said Thursday that its Canadian unit will set up a joint venture with Canada’s Fortune Minerals Ltd. to acquire a stake in a Canadian coal mine development project.POSCO said that POSCO Canada Ltd. will invest a total of 181 million Canadian dollars ($189 million) for a 20 percent stake in the Mount Klappan coal project. POSCO will pay 30 million Canadian dollars
IndustryJuly 14, 2011
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Philip Morris Korea sponsors environment campaign
The non-governmental organization Beautiful Community Forum announced Thursday that it will host photo and sculpture exhibitions as part of the 2011 Philip Morris Korea Clean Beach Campaign.The exhibitions will be at Sokcho Beach in Gangwon Province and Hamdeok Beach in Jeju from July 30 through Aug. 1 to raise awareness for preservation of sea resources.For the photo exhibition, the forum is hold
IndustryJuly 14, 2011
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Overseas tax dodgers targeted in probe
The National Tax Service said Thursday that it would launch a large-scale investigation into offshore bank accounts with lump-sum deposits this year. “The agency’s crackdown on tax evasion using tax havens abroad has seen some achievements in the first half of the year,” said an NTS official. “In the second half, we will step up efforts to probe further into people who have deposited more than 1 b
IndustryJuly 14, 2011
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eBay agrees to fair online trade
The nation’s antitrust watchdog and eBay Inc. signed Thursday an agreement for fair trade in the growing online ecommerce market ― the first of its kind here. The U.S.-based company, which owns Gmarket and Auction, the nation’s No. 1 and No. 2 online marketplaces, will adopt a “Consumer Complaints Management System” to better protect consumer rights, the Fair Trade Commission said.The agreement ca
IndustryJuly 14, 2011
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Inflation to ease but debt woes persist
Economists say debt may cool business sentiment in second halfEconomists expect inflation to cool with the arrival of harvest season but cautiously forecast that business sentiment will lose steam in the second half of the year on debt both at home and abroad.The central bank froze its policy rate at 3.25 percent Thursday even after having an inflation rate above its 3 percent target range for hal
July 14, 2011
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Local banks’ short-term foreign borrowing up
Korean banks’ short-term foreign borrowing rose in June as lenders rushed to secure foreign currency funds amid worries the eurozone debt crisis may worsen, the financial watchdog said Thursday.A total of 16 local banks refinanced 107.4 percent of their maturing short-term foreign debt through fresh borrowing in June, up from 94.9 percent in the previous month, according to the Financial Superviso
July 14, 2011
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Kyobo Life products offer monthly annuity for life
Kyobo Life Insurance, Co., the nation’s third largest insurer, launched a product offering monthly annuities for those looking to secure a stable income stream until retirement. The product, dubbed the Kyobo Premier Variable Whole Life Insurance, differs from other whole life insurance in that it provides monthly annuities for the family even after the subscriber dies. It protects the family again
IndustryJuly 14, 2011
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Innovation and collaboration fuels Korea Post’s express service
Introduced in 1979, the volume of packages moved through Korea Post’s express mail service or EMS has grown rapidly fueled by increasing exchange with other nations.According to Korea Post, the number of EMS packages sent abroad in 1979 numbered 600, but the figure soared to over 6 million last year, with revenues generated from the service reaching 243.4 billion won ($230 million). Kim Myong-ryo
IndustryJuly 14, 2011
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Korea Post improving services in globalizing world
CEOs of global 10 postal services discuss strategies to strengthen cooperation in BarcelonaKorea Post is stepping up efforts to improve the quality of international delivery services in collaboration with other national postal service providers.On Wednesday, the Kahala Posts Group ― an association of 10 postal services ― held a strategy meeting in Barcelona, where the attending chief executives of
IndustryJuly 14, 2011
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Market needs still more oil in Q3: IEA
PARIS (AFP) ― The oil market still needs more supplies for the third quarter of the year, the International Energy Agency warned on Wednesday, despite an official stock release and increased OPEC production.“Major producers have recognized that demand for their oil is rising ... as economic growth and short-term fuel substitution keep global and emerging market demand growth robust,” the IEA said
IndustryJuly 14, 2011
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Cholera alert for Asia, Africa travelers
Travelers to Asian and African countries should take extra care against contracting cholera, the Korea Centers for Disease Control and Prevention said Monday, as the first cholera patient this year was reported a day earlier. Quarantine officials of Incheon International Airport said a tourist who had traveled to Deli and Varanasi of India between July 2-8 was detected with cholerae 01 Ogawa in hi
TechnologyJuly 14, 2011
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‘LASIK, LASEK good in the long term’
Laser in situ keratomileusis and laser epithelial keratomileusis, both myopia correctional treatments, are effective and safer than many people think, the National Evidence-based Healthcare Collaborating Agency said Wednesday. According to its research of 2,638 people who have received these eyesight-correctional treatments between 2002 and 2004, about 95.2 percent of LASIK patients and 90.3 perce
TechnologyJuly 14, 2011
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How to tackle air-conditioningitis
Yoo Jun-hyun With the advancement of civilization, people are now able to control their environment. The term “air-conditioningitis” can often be heard during the summer. Air-conditioningitis occurs when the body cannot adjust properly to the sharp differences in temperature between the cool air-conditioned indoors and the warm outdoors. Air-conditioning in an office building, a bank, a hotel or
TechnologyJuly 14, 2011
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Salt diet dangers may be influenced by potassium
ATLANTA (AP) ― The debate about the dangers of eating too much salt has gained a new wrinkle: A federal study suggests that the people most at risk are those who also get too little potassium.Potassium-rich foods, including fruits and vegetables, have long been recommended as a dietary defense against heart disease and other chronic illnesses. The new research is one of the first and largest U.S.
TechnologyJuly 14, 2011
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Australia puts health warnings on booze bottles
SYDNEY (AP) ― Australia’s liquor industry launched a voluntary program to label its products with health warnings Tuesday, possibly to pre-empt future criticism that it is contributing to excessive drinking that is part of the national culture.About 80 percent of alcohol sold in the country - beer, wine and spirits - will carry the warnings, primarily aimed at teenagers and pregnant women, said Tr
TechnologyJuly 14, 2011