Most Popular
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Koreans, Americans differ on prestigious jobs: lawmakers vs. firefighters
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Only half of S. Koreans willing to marry: data
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Disgraced ex-minister rises as major threat to ruling party
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Yoon calls for dialogue, trust from medical community
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Summit for Democracy opens in Seoul in mega-election year
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Jungkook of BTS updates life in Army
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Med professors to resign starting March 25
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Ryu Joon-yeol, Han So-hee confirm dating since early 2024
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Leaders call for action against threats to democracy posed by AI
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Dyson founder visits Seoul for global debut of new hair dryer
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LG Electronics to hire more disabled people
LG Electronics said Wednesday that it will hire up to 800 disabled people by next year, double its existing number of disabled staff.The hiring will be part of the company’s plan to employ workers in the fields of research and development, production, marketing and business support until June 15. Applications will be accepted at the firm’s website (www.lge.co.kr).“LG Electronics expects to meet th
IndustryJune 8, 2011
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City car sales rise to record on fuel prices
City car sales rose to a new record during the first five months of the year, industry data showed Wednesday. According to the Korea Automobile Manufacturers Association, 75,495 units of city cars ― automobiles with engine displacements of up to 1 liter ― were sold here during the first five months of the year.Compared to the same period last year, the figure is an increase of 16.4 percent. In com
IndustryJune 8, 2011
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Kang clashes with GNP over mega-bank
KDB Financial Group chairman Kang Man-soo has clashed with lawmakers of the governing Grand National Party over the issue of launching a mega-bank here.Kang, a close confidant of President Lee Myung-bak, is pushing ahead with a merger between KDB Financial and public fund-injected Woori Financial Group. KDB Financial Group chairman Kang Man-sooBut, aside from opposition lawmakers, a group of GNP l
June 8, 2011
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FSC moves to roll over bad loans
Regulator instructs savings banks to secure sufficient cashThe financial authorities are moving to extend the maturity of bad loans the government purchased from savings banks in a bid to ensure a soft landing for the distressed industry.Between 2008 and 2010, the state-run Korea Asset Management Corp. acquired bad loans of savings banks. The latter are supposed to repurchase the loans in three ye
June 8, 2011
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Q1 growth revised down to 1.3%
The Korean economy expanded at a slower pace than estimated by the central bank in the first quarter on weak domestic demand.The gross domestic product grew 1.3 percent in the January-March period, falling short of the 1.4 percent estimate made in April, the Bank of Korea said Wednesday. Though the strongest performance in three quarters, the lower than expected figure reflects domestic demand mak
June 8, 2011
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Decentralizing business essential for R&D growth
Academics call for stronger IP protection and incentives for R&D programsFamed scholars of management consulting said decentralizing Korea’s business model driven by a few conglomerates is essential for inclusive growth based on innovations by smaller businesses.Management experts including Hermann Simon, author of “Hidden Champions of the 21st Century,” and Harvard University professor George Whi
June 8, 2011
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Hyundai, Samsung shipyards clash in drillship market
(Left) Hyundai Heavy Industries CEO Lee Jai-seong(Right) Samsung Heavy Industries CEO Roh In-sikKorean shipbuilders dominate global market with Hyundai Heavy challenging SamsungThe competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. As drillships represent something of a golden egg for shipbuilders, a drills
IndustryJune 8, 2011
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Nintendo debuts Wii successor
LOS ANGELES (AP) ― Nintendo has introduced the world to the Wii’s touchy new big brother: the Wii U.The Japanese gaming giant on Tuesday unveiled the Wii video game console’s successor, which will broadcast high-definition video and feature a touchscreen controller that can detect motion and interact with what appears on a television display. Satoru Iwata, president of Nintendo Co., introduces the
IndustryJune 8, 2011
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Obama warns on debt at Merkel talks
WASHINGTON (AFP) ― U.S. President Barack Obama warned Europe’s debt crisis must not destabilize the global economy, as he laid on an effusive White House welcome for German Chancellor Angela Merkel.Obama and Merkel had extensive talks about the plight of debt-stricken Greece, which needs a second huge financial bailout, despite some reluctance from some eurozone members to stump up fresh funds.“I
IndustryJune 8, 2011
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Diamond Jubilee blended scotch whisky
To mark the Queen's diamond jubilee in 2012, the world's biggest drinks company said it plans to produce a limited edition scotch whisky costing £100,000 ($152,465) a bottle. John Walker & Sons said the limited edition of 60 crystal decanters of `Diamond Jubilee Blended Scotch Whisky by John Walker & Sons` is a unique blend of whiskies distilled in 1952 and finished in a marrying cask of English o
IndustryJune 8, 2011
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German girl accidently throws biggest birthday party
A 16-years-old German girl had the biggest birthday party ever in Hamburg with some 1,500 guests after she posted the invitation on Facebook.About 11 people had to be detained by the police, while one officer was injured due to the sheer size of the unexpected crowd. The birthday girl, known only by her given name Thessa, posted the invitation for her party on her Facebook page. However, she accid
TechnologyJune 8, 2011
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A birth-control pill for men?
Contraceptive pills for men could be developed soon, Daily Mail reported Tuesday.Scientists at Columbia University in New York claimed that they have developed “a drug which temporarily stops sperm production without causing any long-term harm to male fertility.”Scientists have been trying to come up with a male equivalent of the pill for years, but have not yet succeeded.The new pill impairs the
TechnologyJune 8, 2011
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Solar flare could disrupt Earth communications
WASHINGTON (AFP) – An unusual solar flare observed by a NASA space observatory on Tuesday could cause some disruptions to satellite communications and power on Earth over the next day or so, officials said.The potent blast from the Sun unleashed a firestorm of radiation on a level not witnessed since 2006, and will likely lead to moderate geomagnetic storm activity by Wednesday, according to the N
TechnologyJune 8, 2011
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Korean economy grows 1.3% on-quarter in Q1
The South Korean economy grew at a slower pace than previously estimated in the first quarter as weaker domestic demand and sluggish facility investment offset robust exports, the central bank said Wednesday.The country's gross domestic product, the broadest measure of economic performance, grew a revised 1.3 percent in the January-March period from three months earlier, down from an earlier estim
June 8, 2011
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POSCO begins works on synthetic gas plant
Works on the country’s first plant for producing synthetic natural gas got underway at POSCO’s steelworks in Gwangyang, South Jeolla Province on Tuesday.Synthetic natural gas is a synthetic fuel with an identical composition to natural gas. It is produced by gasifying coal under high pressure and temperature.The plant is scheduled for completion at the end of 2013, and will be capable of producing
IndustryJune 7, 2011
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S&P ups outlook for Hyundai Motor
Standard & Poor’s revised its rating outlook for Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis Co. to positive from stable, the ratings company said in a statement Tuesday.“The positive outlooks reflect our view that the four companies will continue to enhance their financial profiles, through stronger market positions and improved profitability.” The outlook revision came as Hyundai and K
IndustryJune 7, 2011
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KT chief receives IT award
KT chairman Lee Suk-chae (center) receives the IEEE Distinguished Industry Leader Award in Kyoto on Tuesday. At right is IEEE fellow Lee Byung-ki and at left is head judge Vincent Poor. (KT Corp.)KT chairman Lee Suk-chae received the IEEE Distinguished Industry Leader Award on Tuesday, which is considered to be one of the most prestigious awards in the field of information and technology.Given by
IndustryJune 7, 2011
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Groupon CEO still looking to expand overseas
The head of Groupon Inc. said Tuesday that the operator of the world’s largest daily discount website is seeking to enter overseas markets to further grow its business outside the United States.Groupon has expanded its business into 46 countries less than three years after its launch as the business model of linking local merchants with customers through half-priced deals turned out to be popular.
IndustryJune 7, 2011
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Korea’s IT exports gain 4.7% in May
Korea’s exports of information technology products gained 4.7 percent on-year in May on steady global demand for mobile phones and rechargeable batteries, the government said Tuesday.The country shipped $13.38 billion worth of IT products abroad last month, despite stiff foreign competition and a general drop in demand caused by fewer people buying electronic products in springtime, the Ministry o
IndustryJune 7, 2011
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LGE aims at 40% of Middle East, African markets
LG Electronic launched its Cinema 3-D televisions at Ferrari World, the world’s largest theme park in Abu Dhabi on Monday to mark its foray into the Middle East and Africa, the Seoul-based company said Tuesday. The electronics maker is now aiming for a 40 percent market share of the 3-D industry in the region. “We believe that our products will be able to offer distinguished, next generation 3-D t
IndustryJune 7, 2011