Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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SKT rolls out education platform
Company aims for global expansion of service next yearSK Telecom, the country’s top mobile carrier, has introduced an education platform for tablet PCs called “T Smart Learning,” to be rolled out next month.In partnership with Chungdahm Learning, SKT joined hands with 12 education institutes in Korea, including Daesung, YeaRimDang Publishing, Daekyo, Neungyule Education and Visang to create the co
IndustryJuly 18, 2011
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SKT wants Hynix to bolster telecom business
SK Telecom’s latest bet for a stake in Hynix Semiconductor is not as reckless as the markets would like to believe. The telecom company’s recent decision to bid for the world’s No.2 memory chipmaker was actually a plan devised by parent company SK Group to gain more leverage in the telecom and handset industry via memory technology, industry sources told The Korea Herald on Monday.“SK knows that h
IndustryJuly 18, 2011
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Chanel set to cut prices of key products
SEOUL, July 18 (Yonhap) -- French fashion company Chanel S.A. will soon cut prices of its key items such as garments and handbags by up to 10 percent after a free trade pact between South Korea and the European Union (EU) took effect early this month, industry sources said Monday.But the French fashion firm has yet to decide the timing of the price cuts, according to the sources. Under the free tr
IndustryJuly 18, 2011
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Saunas, hospitals warned over water bacteria
Health authorities found higher than normal levels of legionella bacteria in 40 bathhouses, saunas and hospitals in Seoul.The bug can lead to Legionnaires’ disease, a potentially fatal form of pneumonia, whose symptoms include chills, high fever, cough, fatigue, muscle aches and headaches. (MCT)Young children, the elderly and anyone with a weak immune system are the most susceptible.The city gove
TechnologyJuly 18, 2011
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Falls, eye test may give clues to Alzheimer's
PARIS (AP) -- Scientists in Australia are reporting encouraging early results from a simple eye test they hope will give a noninvasive way to detect signs of Alzheimer's disease.Although it has been tried on just a small number of people and more research is needed, the experimental test has a solid basis: Alzheimer's is known to cause changes in the eyes, not just the brain. Other scientists in t
TechnologyJuly 18, 2011
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Long rainy season deepens price concerns
Prices of vegetables, fruit and coffee rapidly escalatingA prolonged rainy spell is deepening concerns over increases in consumer prices. The government had expected the nation’s consumer price index, which hovered at 4.3 percent in the first half of the year, would stabilize in the latter half at 3.7 percent. But, coupled with high oil prices, the long rainy season is adding to uncertainty about
July 17, 2011
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CEOs control outside directors at financial firms
Flawed recruitment methods render system virtually meaninglessOutside directors at South Korea’s banks and financial firms have been mostly nominated by their largest shareholders and chief executives, undercutting their roles as corporate watchdogs, financial regulators’ data showed on Sunday. Officially, a neutral committee is supposed to name eligible outside directors, whose primary function i
July 17, 2011
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Trade with EU rises after FTA takes effect
South Korea is witnessing a clear increase in trade volume with the European Union after a free trade agreement between them took effect on July 1.The Korea Customs Service said Sunday that the exports and imports with the EU amounted to $1.48 billion and $1.65 between July 1-13, an increase of 19 percent and 16 percent, respectively. The customs agency said that the newly signed FTA may have driv
July 17, 2011
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Strained inter-Korean ties unlikely to last: official
Inter-Korean relations are unlikely to remain perpetually tense, a high-level government official said Sunday, signaling that the government is willing to continue efforts to improve ties despite recent troubles caused by the North's disclosure of details of secret talks with the South."The door to dialogue remains open," the official told reporters, requesting not to be named due to the sensitivi
IndustryJuly 17, 2011
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Lotte candy, drug units to merge
Lotte Confectionary Co. announced Sunday it plans to merge with Lotte Pharm Inc. in a bid to foster synergies in their health food business.The Korean snack and sweets maker will remain the largest stakeholder in its pharmaceutical unit as it already holds a 100 percent share. Lotte Aluminum Co. has a controlling stake in Lotte Confectionary with 15.29 percent.The merger, which needs statutory app
IndustryJuly 17, 2011
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Korea’s financial markets grow at record pace
Total investment transactions per year surpass $18.9 trillionThe amount of investment circulating in the South Korean stock, bond and derivatives markets topped 20,000 trillion won ($18.9 trillion) per year, government data showed on Sunday.The Financial Supervisory Service said investment transactions between April 2010 and March 2011 totaled 22,378 trillion won, marking an increase of 500 percen
July 17, 2011
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Renault Samsung’s car exports hit record in H1
Riding on solid demand from Europe, Renault Samsung Motors Co., exported a record 70,914 cars in the first half of this year, the company said last week. Renault Samsung is the Korean unit of French automaker Renault SA. Renault Samsung CEO Jean-Marie HurtigerThe figure the carmaker unveiled surpassed the previous high of 50,160 units tallied in the first six months of 2010, with the latest surge
MobilityJuly 17, 2011
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SM7 renewed with impressive road manners
Renault Samsung challenges Hyundai’s dominance with fully revamped premium sedanNAMHAE, South Gyeongsang Province ― Tagging Hyundai Motor’s Grandeur as the sole leader of the mid-sized sedan market is about to get presumptuous with new premium sedans from Renault Samsung and GM Korea. Throughout the years, the Grandeur has dominated the segment and outsold Renault Samsung’s SM7 and GM’s Alpheon.
MobilityJuly 17, 2011
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Volkswagen ‘confident’ it can outperform global car market
Volkswagen AG, Europe’s biggest carmaker, said it expects to continue outperforming the auto market in the second half after posting a record 4.1 million deliveries in the first six months of the year.Sales of cars, sport-utility vehicles and vans at the company’s brands including the Audi luxury division and Czech unit Skoda rose 14 percent, VW said today in an e-mailed statement. Global industry
MobilityJuly 17, 2011
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Toyota under pressure from Hyundai in U.S.
Toyota Motor Corp., to make its earnings target this year, needs the new Camry to wrest back market share from Hyundai Motor Co.’s Sonata sedan. The Camry, the best-selling car in the U.S., has lost ground to the Sonata, with Seoul-based Hyundai raising its U.S. output and surpassing the Camry in May for the first time. “Sonata became a very honorable contender in the market,” said Yoshimi Inaba,
MobilityJuly 17, 2011
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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