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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Oriental medicine out to prove itself
Jaseng’s Royer says Oriental medicine focuses on balance of inner energyMany Koreans visit Oriental medical doctors for stamina or chi improvement. Yet, the field is less visited for treatment of ordinary diseases, industry insiders admit.But Oriental medicine is slowly earning a reputation for seeing the disease and the body condition from a larger perspective. It is the hot spot for foreigners s
TechnologyJuly 14, 2011
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Lawyer pushes class action suit against Apple
A lawyer is pushing for a class action suit against Apple after he won a court battle last month over the iPhone’s location tracking.Apple Korea recently paid about 1 million won in compensation to attorney Kim Hyung-suk following a lower court’s ruling that the smartphone’s software violated his privacy.Kim, 31, and his company MiRaeLaw on Thursday began to collect applications for a collective l
TechnologyJuly 14, 2011
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Glasses tell what others are thinking
Researchers at the Massachusetts Institute of Technology’s Media Lab have come up with "social x-ray specs" that can interpret others’ facial expressions, according to reports. The creator of the glasses, Rosalind Picard said that they can identify human facial expressions such as thinking, agreeing, concentrating, interest and disagreement. This is made possible with the help of a built-in camera
TechnologyJuly 14, 2011
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Amazon planning iPad rival by October: WSJ
Online retail giant Amazon plans to unveil a tablet computer before October in a bid to carve out a slice of a growing market dominated by Apple's iPad, The Wall Street Journal reported Wednesday.The newspaper, citing "people familiar with the matter," also said Amazon plans to release two updated versions of its Kindle electronic reader in the third quarter of the year.The Journal said the tablet
IndustryJuly 14, 2011
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BOK freezes key rate at 3.25%
Korea's central bank froze the key interest rate on Thursday, following a rate hike in June, in the face of mounting household debt and the eurozone debt crisis.Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers held steady the benchmark seven-day repo rate, dubbed the base rate, at 3.25 percent for July.The decision is in line with a forecast by 18 out of 19 economists surveyed b
July 14, 2011
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Hyundai, Kia ranked as top passenger car brands in Canada
South Korea'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 share of 18.2 percent, according to the sources.The
IndustryJuly 14, 2011
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Obama still uncertain on ways to proceed with FTA bill
The Barack Obama administration is still looking for the best timing to send a bill on a free trade agreement (FTA) with South Korea to Congress, a senior official said Wednesday, with no clear signs of a breakthrough in federal debt limit talks."Senior-level discussions continue on the timing for formal submission of the bill," Carol Guthrie, assistant U.S. trade representative for public and med
July 14, 2011
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Korean CEOs expand networks as honorary consuls
Business leaders committed to solidifying diplomatic, economic, cultural ties with foreign countriesKorea’s business leaders are expanding their scope into the international arena, but not as representatives of their companies; they are honorary consuls of foreign countries.Despite the extra duties these roles bring to their already busy lives, such as issuing visas and passports, the new job help
July 13, 2011
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Creditors to put 30 firms under workout program
Troubled companies to be shut downKorea’s creditor banks have singled out some 30 large firms that should either go through a workout program or be forced out of the market. The names of the companies in question, however, remain undisclosed.According to banking sources on Wednesday, local creditor banks completed the evaluation of companies whose loans exceed 50 billion won ($47 million) in late
July 13, 2011
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June jobless rate falls to 6-month low
The job market in June grew to the healthiest level in six months, posting a 3.3 percent unemployment rate as hiring conditions improved in manufacturing and service sectors, Statistics Korea said. The June figure is unchanged from May, but it saw the largest number of jobs in 11 months, 472,000, added to the economy.“The job growth is driven by the private sector and we’re seeing the job market c
July 13, 2011
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New rules devised to prevent fraud by bloggers
Online users, mostly so-called “power-bloggers” who post product reviews in return for benefit will be obligated to disclose their contract details starting July 14, the state-run antitrust regulator said Wednesday. In short, the users must reveal that their reviews were a part of a business deal with specific companies. If they fail to disclose such facts, the firms they signed on to issue the re
IndustryJuly 13, 2011
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GM Korea agrees on record bonus to settle labor strike
GM Korea, the third-largest carmaker in Korea, said it agreed Tuesday to give out a record bonus of 7 million won ($6,616) in additon to a 4.7 percent salary raise for its workers.“Management and the union were able to reach a compromise on Monday. But this is a tentative agreement which will be finalized tomorrow,” Kim Sung-soo, a spokesperson at the company said. “We need the majority (of the un
IndustryJuly 13, 2011
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Samsung paying the price with Apple feud: Ahn
Samsung is no match for Apple, IT guru Ahn Cheol-soo said in a recent interview with The Korea Herald, stressing that Samsung is paying the price for failing to create and encourage original platforms. “The vibes we are getting from abroad on the situation are quite different from what we are feeling in Korea,” Ahn said. Apple and Samsung are currently embroiled in a bitter legal dispute over lice
IndustryJuly 13, 2011
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Kimberly-Clark plans innovation center here
U.S. company says Korea is at the forefront of technologies and inventionsKimberly-Clark Corporation said Wednesday that it will establish its first overseas global innovation center in Korea as early as January.The U.S. households and personal care products manufacturer has already been operating its only Innovation Center Asia in Giheung, Gyeonggi Province, since 2007. While the current center w
IndustryJuly 13, 2011
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Woori’s global ranking highest among lenders
Woori Finance Holdings Co., South Korea’s No. 2 banking group, ranked 72nd last year on the list of the world’s 1,000 largest lenders by core capital, the highest spot among local lenders, the central bank said Wednesday.A total of nine South Korean banks made the list last year, the same number as the year before, the Bank of Korea said in a report based on the July edition of The Banker magazine
IndustryJuly 13, 2011
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CJ O launches channel in China
CJ O Shopping said Wednesday that its Chinese joint venture launched its second home shopping channel in China and started digital broadcasts.Dongbang CJ, the joint venture with Shanghai Media Group in China, has acquired channel number 20 and broadcasts its home shopping programs digitally around the clock to 2.5 million digital cable TV viewers in Shanghai, according to CJ O Shopping, formerly C
IndustryJuly 13, 2011
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Trade pact to give Korean drinkers more choices for less
European distilleries and wineries set out to aggressively tap the local market as a free trade agreement with Korea began scrapping tariffs on alcoholic beverages.Although the markets for wine and whisky have been booming in recent years here, heavy duties on imported bottles have limited choices of local drinkers. Under the deal, 15 percent tariffs on wine were removed on July 1, the first day o
IndustryJuly 13, 2011
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N.Y. college Incheon campus OK’d
SUNY at Stony Brook plans to open school in Songdo next Feb.The State University of New York at Stony Brook received the nod from the Incheon Free Economic Zone Authority for its plan to set up a campus in Songdo next year, the Ministry of Knowledge Economy said Wednesday.The U.S. institution plans to open graduate school classes at the Songdo Global University Campus in the Incheon FEZ starting i
IndustryJuly 13, 2011
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Money supply growth hits 7-year low in May
Korea’s money supply grew at the slowest clip in more than seven years in May as the government’s tax receipt rose and foreign stock funds flowed out of the country, the central bank said Wednesday.The country’s M2, a narrow measure of its money supply, reached 1,690.5 trillion won ($1,587 trillion) in May, up 3.7 percent from a year earlier, according to the Bank of Korea.The May number slowed fr
July 13, 2011
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LG Display to build China plant in Dec.
LG Display Co., the world’s second-largest maker of liquid crystal display panels, will likely break ground on a new plant in China before December, an industry source said Wednesday. The company pushed back an initial plan to start construction of its eighth generation LCD plant in Guangzhou during the first half of this year, as panel prices continued to trend downwards. Despite the downturn in
July 13, 2011