Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Iraq key oil player ‘for next 20 years’
BAGHDAD (AFP) ― Iraq will be the key player in international oil politics over the next two decades, the country’s top government official for the energy sector said on Saturday.“If we continue along the path we are on, Iraq will over the next two decades be the country that sets oil policy in the world in terms of price, supply and demand,” Deputy Prime Minister Hussein al-Shahristani said at a c
IndustryJuly 17, 2011
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U.S. consumer confidence unexpectedly falls
IndustryJuly 17, 2011
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Most workers stick to domestic travel for vacation
Less than 10 percent of salaried Koreans intend to spend their summer vacation abroad this year, a survey said Sunday.The survey of 600 people by the Korea Chamber of Commerce and Industry comes amid soaring inflationary pressure and global economic uncertainties from possible insolvency of the governments of the United States and several European countries.About 9.6 percent of the respondents sai
IndustryJuly 17, 2011
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Two KTX trains break down in space of hours
A KTX train was brought to an abrupt halt inside a tunnel near Busan on Sunday, rekindling concerns over the accident-prone Korean high-speed rail system.About 400 passengers were stranded for one hour due to the stoppage believed to have been caused by a defective motor system. Train services from Busan were delayed.The incident occurred around 11:00 a.m. when the Seoul-bound train was passing th
IndustryJuly 17, 2011
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Coffee prices jump 4.5% in Q2
(Yonhap News)Coffee prices in South Korea surged 4.5 percent in the second quarter from three months earlier, due mainly to soaring costs of importing coffee beans, data showed Sunday. The increase is more than six times larger than a 0.7 percent on-quarter gain in consumer prices in the April-June period, according to the data compiled by the central Bank of Korea and state-run Statistics Korea.
July 17, 2011
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Gold prices hit another record high
Domestic gold prices set a fresh record high on Saturday on the back of recent surges in international prices of the precious metal and the weak U.S. dollar, industry sources said.The retail price of 1 don (3.75 grams) of pure gold in the country stood at 217,800 won (US$206) on Saturday, up 600 won from Friday's quotation, according to the Korea Gold Exchange, a local gold dealer. Don is a unit u
July 17, 2011
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BOK raises inflation outlook to 4 percent
The Bank of Korea raised its projection for this year’s inflation rate to 4 percent on Friday ― 15 days after the government raised its projections to the same level.The central bank had projected an inflation rate of 3.9 percent in April.The government, which had originally projected that consumer prices would rise by around 3 percent this year, changed its outlook for this year’s inflation rate
July 15, 2011
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Galaxy S II launched into the skies
Galaxy S II, Samsung Electronics’ second-generation of Android-powered smartphones, will be sent up to 30 kilometers above ground as part of a “Space Balloon” campaign launched at Samsung’s Japan offices, the company said Friday. Attached to a small balloon, the phone will be launched from the Nevada desert in the U.S. from Friday to Monday for two hours each day. Messages posted on Twitter and Fa
IndustryJuly 15, 2011
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Lotte Tour chief fined W62b
The National Tax Service has slapped a 62 billion won ($58.6 million) fine on Lotte Tour chief executive Kim Ki-Byung for tax evasion and referred the case to the prosecution.Lotte Tour is independent of Lotte Group, but Kim is married to Lotte Group chairman Shin Kyuk-ho’s younger sister and Dongwha Duty Free CEO Shin Jung-hee. Kim Ki-byungAccording to NTS sources, Kim was fined for illicit measu
July 15, 2011
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Local gold prices hit record high
Surge stems from high international prices, weak greenbackDomestic gold prices have rallied to all-time highs on the back of recent surges in international prices of the precious metal and the weak U.S. dollar, industry sources said Friday. An employee at Shinhan Bank shows gold bullion bars. (Ahn Hoon/The Korea Herald)The retail price of 1 don (3.75 grams) of pure gold in the country stood at 217
July 15, 2011
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Korea, EU agree on fair, equal antitrust policy
Antitrust authorities of Korea and the European Union agreed Friday to ensure equal treatment of foreign companies in dealing with international cartel cases, Seoul officials said. The agreement was reached during a meeting in Seoul between Kim Dong-soo, head of South Korea’s Fair Trade Commission, and Joaquin Almunia, vice president of the European Commission, according to the FTC officials. Fair
July 15, 2011
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S&P warns of U.S. downgrade
IndustryJuly 15, 2011
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Default on debt would increase deficit: Bernanke
Fed chief also tells Senate no immediate stimulus planned for nowWASHINGTON (AP) ― Federal Reserve Chairman Ben Bernanke warned U.S. lawmakers Thursday that they would deliver a “self-inflicted” wound to the nation’s economy by holding up efforts to raise the government’s borrowing limit.The Fed chief also said the central bank had no immediate plans to introduce new stimulus measures, elaboratin
IndustryJuly 15, 2011
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It's tough at the top for alpha males: study
It's tough at the top for alpha males: studyWASHINGTON (AFP) -- If you're feeling envious of your boss's paycheck, a study out Thursday shows that success comes with high stress, possibly as much as faced by those who have to struggle to find a bite to eat.The results of nine years of research on wild baboons, published in the journal Science, suggest that despite perks like easy access to mates a
TechnologyJuly 15, 2011
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Healthy to drink 8 glasses of water a day? Nonsense!
Drinking a lot of water has long been thought to be good for your health.But according to Glasgow-based GP Margaret McCartney, drinking eight glasses of water a day can be harmful, the Daily Mail reported.(MCT)Writing in the British Medical Journal, McCartney said the benefits of drinking a lot of water are groundless and that drinking too much water can even lead to poor concentration.She also sa
TechnologyJuly 15, 2011
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Men want to lose weight in abdomen, females in thigh
When it comes to treatment for obesity, Korean men are most concerned with their abdomen, while women want thinner thighs, a survey showed.365MC, an obesity clinic, released the result of a study of 70,249 clients -- 67,753 women and 2,503 men.A man had bariatric surgery and then transferred his addiction to food to an alcohol. He checked himself into rehab, and has been sober ever since. Here he
TechnologyJuly 15, 2011
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iPhone5 likely to debut in August: reports
The iPhone’s popularity is creating a buzz around the world with rumors of the smartphone possibly out during mid-August, according to reports. Tech media website Cnet said the rumor started with a notice posted by Gekko Ltd, a staffing firm located in the United Kingdom.Gekko said it is looking for full-time iPhone sales staff who were willing to work five days a week from Aug. 16 until Oct. 29 i
TechnologyJuly 15, 2011
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‘Coca-cola in Pyongyang was a rumor’: official
The Coca-Cola Company officially denied the local news reports on making inroads into the North Korean market.“No representative of The Coca-Cola Company has been in discussions or explored opening up business in Pyongyang, North Korea,“ Kent Landers, a PR official of the company, told the Korea Herald via email on Friday.Meanwhile, Park Chul-soo, president of Chosun Daepoong Group also denied the
IndustryJuly 15, 2011
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BOK cuts 2011 growth outlook to 4.3 pct
South Korea's central bank on Friday revised down its 2011 economic growth outlook on weaker domestic demand and construction investment, but raised its inflation projection on high oil and food prices.The Bank of Korea (BOK) lowered its growth projection to 4.3 percent for the year from an earlier 4.5 percent estimate made in April. In the second half, the economy is expected to grow 4.7 percent,
July 15, 2011
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S. Korea's import price growth hits 7-month low in June
South Korea's import prices grew at the slowest clip in seven months in June as the local currency's ascent to the dollar overshadowed an on-year gain in oil prices, the central bank said Friday.In local currency terms, the country's import prices rose 10.5 percent in June from a year earlier, slowing from a 13.2 percent on-year expansion tallied in May, according to the Bank of Korea (BOK).The Ju
July 15, 2011