Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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KT launches new mobile plans for foreign residents
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Korean Air refuses to let cancer patient onto flight
Korean Air denied a terminal cancer patient in the United States a seat on a flight to Korea because she “looked too frail.”Crystal Kim, a Korean-American with stage 4 breast cancer, was to take the flight on Saturday for Mother’s Day. Even though she had two doctors’ notes explaining that her terminal breast cancer wouldn’t be a problem during the flight, Korean Air still refused to let her board
IndustryMay 11, 2011
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Ministers discuss smart society, its challenges
Global ministerial meeting focuses on digital convergence, social networking servicesMinisters and vice ministers from 21 countries gathered in Seoul on Wednesday to share views about how innovative solutions and next-generation technologies could reshape people’s lives and offer new opportunities.“A smart society has come, which puts an emphasis on digitalization, mobility and two-way services wi
May 11, 2011
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Ministry sets area of new park in Yongsan
The Ministry of Land, Transport and Maritime Affairs on Wednesday designated 2.43 square kilometers of the land currently occupied by the U.S. Army’s Yongsan Garrison to be converted into a park.Central government agencies and the Seoul city government have been reviewing plans to convert the land occupied by the Yongsan Garrison into a park since 2008 once control of the land is returned to the K
May 11, 2011
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Road map for Woori Finance sale due out next week: FSC
Korea will unveil its road map for the sale of a controlling stake in the second-biggest banking group Woori Finance Holdings Co. next week in a bid to restart its stalled privatization, the financial regulator said Wednesday.The Public Fund Oversight Committee, which handles the sale of state-owned firms, will announce on May 17 how to sell the 56.97 percent government stake in Woori Finance, the
May 11, 2011
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BOK likely to hike key rate: poll
Korea’s central bank is widely expected to resume its tightening move in May by raising the key interest rate by a quarter of a percentage point in a bid to stem inflationary pressure, a poll showed Wednesday.A total of 14 out of 17 economists forecast that the Bank of Korea will raise the benchmark seven-day repo rate to 3.25 percent on Friday, according to the survey by Yonhap Infomax, the finan
May 11, 2011
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Event to bring massive economic benefits for Korea
The International Exposition Yeosu Korea 2012 that will open its doors to visitors on May 12, 2012, is expected to bring more than visitors to South Korea.According to the organizing committee for Expo 2012 Yeosu Korea and local think-tanks, the cost of building the facilities and operating them for the three-month event will be about 2.1 trillion won ($1.9 billion).While significant, the figure i
IndustryMay 11, 2011
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Real interest rates below zero percent
Real interest has stayed below inflation for the past year, devaluing returns on bond investments and deposits at banks, a government report said Wednesday.The interest rate on 1-year savings products at most commercial banks is just over 4 percent, leaving no room for profit given on-year inflation in the 4 percent range on top of a 15.4 percent tax on interest income. “Real returns on deposits w
May 11, 2011
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36% of recent college graduates out of work
The number of unemployed fresh college graduates increased by 0.2 percent in April from a year earlier despite a drop in the overall jobless rate, Statistics Korea said Wednesday. Some 63.6 percent of college graduates in their twenties were part of the workforce, posting a 0.3 percent drop from a month earlier, indicating a persistent structural mismatch between the reality of the job market and
May 11, 2011
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Lee Kun-hee names new chief secretary
Samsung C&T Corp.’s executive vice president Park Pil was appointed as the head of Samsung Electronics chairman Lee Kun-hee’s assistant team on May 1.Operating under the chief of Samsung’s corporate strategy office, the head of the chairman’s assistance team is widely considered to be an important step on the way to key posts within Samsung Group.Although the team acts as the chairman’s assistance
IndustryMay 11, 2011
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[Meet the CEO] LG Chem targets 25% global market share
CEO Kim says company is developing ‘second generation’ electric car batteriesLG Chem CEO Kim Bahn-suk had much to say regarding the future of the car battery market and how the company plans to carve out a leading share of global markets. He also talked about LG Chem’s vision for its people, and how that vision helped turn the company around since he came to office in 2006, a time when LG Chem was
CompaniesMay 11, 2011
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Expo packed with cultural events
The main theme of the upcoming International Exposition Yeosu Korea 2012 is “Living Ocean and Coast,” and as such its focus will be on issues related to marine development.However, organizers also have a host of cultural events to entertain visitors.During the 93-day expo, more than 3,200 performances and other cultural events will take place within the grounds.The performances and events planned
IndustryMay 11, 2011
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Yeosu Expo to present future of marine development
Organizing committee steps up efforts for flawless Exposition opening next MayThe International Exposition Yeosu Korea 2012 is now a year away from its opening and its organizers are stepping up the efforts to bring preparations to a smooth close. The event, held under the theme “Living Ocean and Coast” will be held in Yeosu, South Jeolla Province from May 12 to Aug. 12.According to the Expo organ
IndustryMay 11, 2011
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Google unveils cloud-based music service
(Yonhap News)NEW YORK (AP) - Google Inc. unveiled its long-planned music service Tuesday, but it will likely need deals with the recording industry to reach its full potential.Called ``Music Beta by Google,'' the service lets users store their tunes remotely and access them from any compatible device, including mobile phones, tablets and computers. So far, it does not offer music downloads or song
TechnologyMay 11, 2011
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Rice makes you stronger, healthier than bread: study
Rice allows one to work out nearly 50 percent longer than bread and is more effective in reducing cholesterol, a new study suggested.The Korea Food Research Institute unveiled the result of its recent research on the health effects of Koreans’ staple food in a public forum on Wednesday.In a test on university students, researchers measured how long they can perform exercise after eating rice or br
TechnologyMay 11, 2011
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Korean Air refuses to let cancer patient onto flight
Korean Air denied a terminal cancer patient in the United States a seat on a flight to Korea because she “looked too frail.”Crystal Kim, a Korean-American with stage 4 breast cancer, was to take the flight on Saturday for Mother’s Day. Even though she had two doctors’ notes explaining that her terminal breast cancer wouldn’t be a problem during the flight, Korean Air still refused to let her board
IndustryMay 11, 2011
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S. Korea's jobless rate inches down to 3.7 pct in April
S. Korea's jobless rate inches down to 3.7 pct in April South Korea's jobless rate inched down in April from a year earlier as the private sector continued to expand recruitment, fueled by strong exports, a government report showed Wednesday. The jobless rate was 3.7 percent last month, down from 3.8 percent in the same month a year earlier, according to the report by Statistics Korea. It was
BusinessMay 11, 2011
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Lawmakers support BOK on supervision
Central bank may be given right to inspect financial companiesThe nation’s financial market is focusing on the growing possibility that a proposed revision of the law on the Bank of Korea could pass the National Assembly this year.If the law on the BOK is revised, the central bank ― like the Financial Supervisory Service ― will be entitled to conduct independent inspections into financial companie
May 10, 2011
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Genesis, Equus gaining popularity in U.S.
Hyundai Motor Co. is boosting its presence in the U.S. luxury sedan market with its Genesis and Equus vehicle grabbing influential shares of sales.The automaker saw its Genesis sedan capture more than 10 percent of the U.S. market in the mid-luxury class for the first time last month.According to Autodata Corp., sales of the Genesis came to 2,648 units in April, up 16.9 percent from a year earlier
IndustryMay 10, 2011
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Samsung chairman Lee departs for IOC briefing
Samsung Electronics chairman Lee Kun-hee left for the International Olympic Committee’s headquarters in Lausanne, Switzerland, on Tuesday.PyeongChang, like all cities bidding to host the 2018 Winter Olympics, is to participate in an official technical briefing at the organization’s headquarters from May 18-19. Lee is one of the IOC’s 110 members. Lee was escorted by his son Lee Jae-yong, a preside
IndustryMay 10, 2011
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Yeosu Expo kicks off celebrations
Prime minister to visit the port city to drum up supportEvents marking the start of the 365-day run up to the International Exposition Yeosu Korea 2012 kicked off Tuesday with a concert and celebrations in Yeosu, South Jeolla Province.The three-month expo will be held at the southern port city from May 12, 2012 until Aug. 12. The upcoming expo is the second international exposition held in Korea,
IndustryMay 10, 2011