Most Popular
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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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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Ministry denies blame for Jamboree debacle
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Government mulls tariffs on rice imports
The government is mulling tariffs on rice imports from next year, possibly expediting the process previously scheduled for 2015, the Agricultural Ministry said Tuesday.The early imposition of tariffs on rice imports is to reduce growing stockpiles of rice, a problem that has been deepening under the current system where Seoul has to import a specified amount of foreign rice. The Ministry of Food,
IndustryMay 24, 2011
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KCC may favor new entrants in bandwidth auction
The Korea Communications Commission is considering giving priority to new participants in its upcoming bandwidth auction which is scheduled to be held later this year.Oh Nam-seok, director-general of the radio policy bureau at the KCC, said the commission has opened discussions on possibly offering the upper hand to a non-telecom firm deciding to participate in the first high-stake competition to
TechnologyMay 24, 2011
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Top regulator hints Lone Star’s KEB sale possible
Financial Services Commission Chairman Kim Seok-dong said it would not be easy to order U.S. Lone Star Funds to sell its stake in Korea Exchange Bank by directing “concrete” sale terms.His remarks are based on the assumption that the financial regulator will decide to issue a sanction of coercive stake sale against the Texas-based buyout fund, suspected of stock manipulation.“(Under the scenario o
May 24, 2011
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Hwang first Asian to head global securities lobby group
KOFIA chairman becomes head of International Council of Securities AssociationHwang Kun-ho, chairman of the Korea Financial Investment Association, was elected to head the International Council of Securities Association, the local body announced Tuesday.Hwang became the first Asian chief of the international body of practitioners promoting the common interest of securities companies worldwide.“I h
May 24, 2011
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Online game industry looks overseas
Localization in foreign markets remains biggest challenge for global expansionKorea’s online game industry is increasing efforts to dive into overseas markets in a bid to seize bigger business opportunities in the Internet era.Well-known local online game publishers and developers, such as Neowiz Games, NEXON and Hangame, have said targeting foreign markets is a top priority for this year.“We have
TechnologyMay 24, 2011
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Apple faces iPad production loss of 500,000 after blast
Apple Inc. may face a production loss of 500,000 iPad 2 tablets after the explosion at Foxconn Technology Group’s plant in Chengdu, China, according to research firm IHS ISuppli. The drop in manufacturing will depend on how long the plant is closed following a May 20 explosion that killed three people and injured at least 15, according to ISuppli. The total could be even greater if the suspension
IndustryMay 24, 2011
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Unprecedented photo op for shuttle-space station
In this image provided by NASA astronaut Andrew Feustel works in the space shuttle Endeavour's payload bay during the mission's first spacewalk at the International Space Station Friday May 20, 2011. (AP-Yonhap News/NASA)HOUSTON (AP) _ In an unprecedented cosmic photo shoot Monday, a departing spaceship snapped close-up glamour pictures of the space shuttle Endeavour attached to the International
TechnologyMay 24, 2011
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Galactic ‘fountain of youth’ discovered in Hubble Telescope image
This NASA/ESA Hubble Space Telescope image shows the edge-on profile of the slender spiral galaxy NGC 5775, which is surrounded by a halo of gas that astronomers suspect is kicked up by star explosions like a galaxy-size fountain. (NASA)Jack Sparrow seeks to find the fountain of youth in the fourth installment of “Pirates of the Caribbean” -- now Hubble scientists have found one of a sort, but 85
TechnologyMay 24, 2011
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Shinsegae probed over sales of gift vouchers
The Busan Metropolitan Police Agency on Monday said it is investigating Shinsegae Department Store on allegations that its employees illegally sold gift vouchers worth billions of won to ramp up sales performances. The police have raided Seoul and Busan Centum City offices of the department store and is combing through all financial records related to the gift certificates, officials said. “It’s s
IndustryMay 23, 2011
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Carmakers face output cut on parts firm strike
Police launched a probe Monday into an illegal strike by an auto parts manufacturer in Asan, South Chungcheong Province, which is prompting work suspension at plants of the nation’s major carmakers including Hyundai Motor in Ulsan.The police said they are considering requesting an arrest warrant for the company’s labor union leaders, as well as for key players behind the strike and the illegal occ
MobilityMay 23, 2011
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LSIS begins works on electric car component plant
LSIS Co., LS Group’s electric equipment maker, on Monday broke ground for an electric vehicle relay manufacturing plant. Electric vehicle relay is a core component of electric cars that relays electricity to the vehicle’s powertrain from the battery pack. The company plans to complete the plant located in Cheongju, North Chungcheong Province during the first quarter of the year. The company said t
IndustryMay 23, 2011
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STX Group launches in-house think tank
STX Group launched the think tank STX Future Institute on Monday.The organization will be headed by the group’s vice chairman Shin Chul-seak. STX Future Institute will be tasked with leading efforts to establish systemic management that is part of the company’s Vision 2020 plans, the company said.Announced at the group’s 10th anniversary event held in Dalian, China last month, Vision 2020 calls fo
IndustryMay 23, 2011
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‘Luxembourg offers own solution for every foreign investment’
Choosing a European country to invest in takes tremendous legwork and lawyers to comb through all the details.Luxembourg has entered the game in Korea by trying to attract foreign investment into the small kingdom.Companies looking toward investing in Europe first need a European headquarters, then a logistical center and in the near future, once fuel prices climb to higher levels, a manufacturing
May 23, 2011
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Anti-drunk driving campaign launched
Pernod Ricard Korea, the local unit of the global beverages group, launched a campaign against drunk driving Monday in Seoul as part of the France-based company’s worldwide initiatives.The maker of Absolut Vodka and Ballantine’s whisky has been laying out its “smart driving” campaign here since 2007, aiming at reducing alcohol-related car accidents and promoting a sound drinking culture. This year
IndustryMay 23, 2011
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No. 2 makers shake up drinks industry
OB, Lotte Liquor make big gains on larger market rivals Hite, JinroNo. 2 brands of beer, soju and whisky are hot on the trail of front-runners in the Korean drinks market, industry data showed Tuesday. In the beer market, Oriental Brewery, the country’s No. 2 beer maker since 1994, made big strides in the first quarter of the year beefing up its stake to 46.6 percent by shipment volume, according
IndustryMay 23, 2011
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‘Kids absorb 1.5 times the electro waves of adults’
Research showed Monday that a five-year-old takes in 1.5 times more electromagnetic waves than a 20-year-old.According to research conducted by a team at the Electronics and Telecommunications Research Institute, children’s maximum specific absorption ratio for the waves was much higher than for adults.The maximum SAR for a five-year-old boy was 124 microwatts per kilogram, while the figure was 83
May 23, 2011
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Shares tumble 2.64 percent on foreign selling
Korean stocks plunged 2.64 percent on Monday as foreign investors unleashed holdings on falling risk appetite, analysts said. The local currency dipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index plunged 55.79 points to 2,055.71. Trading volume was moderate at 289.8 million shares worth 6.24 trillion won ($5.7 billion), with losers far outnumbering gainers 691 to 146.“F
May 23, 2011
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Bidding for 7 savings banks to begin today
Bidding competition for debt-saddled ailing savings banks in business suspension will be launched Tuesday, according to the Korea Deposit Insurance Corp.The state-run KDIC has decided to make a public notice for sale of the seven savings banks on Tuesday, aiming to select preferred bidders by July.In a bid to induce close competition and fast conclusion of deals, the government agency will lower t
May 23, 2011
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Rising utility bills, food costs fan inflation fears
The government is considering raising public utility prices in the coming months to correct the growing deficit by major public corporations plagued by rising raw material and production costs.Burdened by rising prices in grain, sugar, corn and wheat, food makers are also expected to raise the prices of processed foods in the second half. Seoul is mulling raising subway fares by 300 to 400 won aft
May 23, 2011
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Internet bosses woo world leaders at ‘e-G8’
PARIS (AFP) ― The world’s most powerful Internet and media barons gather in Paris on Tuesday in a show of strength to leaders at the G8 summit, amid international rows over online access, copyright and regulation.Top executives from online giants like Google, Facebook and Microsoft will tout the economic potential of the Internet, which their host, French President Nicolas Sarkozy, has put on the
IndustryMay 23, 2011