Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Man who let his father die due to financial difficulties to be released on parole
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Actor Yoo Ah-in accused of sexual attack
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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97 Hyundai Motor union staff caught gambling online at work
Hyundai Motor Co. said Sunday it found 97 of its unionized workers in Ulsan and Asan factories logging on to Internet gambling games during work hours.The country’s No. 1 carmaker said 62 employees at its Ulsan plant and 35 employees at its Asan plant were involved in cyber gambling, betting as much as 100 million won ($92,000) in some cases, according to company officials.The online gambling was
IndustryJune 19, 2011
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4G LTE technology to debut next month
4G mobile phones to be released as early as Sept.The fourth generation telecommunications technology Long Term Evolution is expected to debut next month as two of the country’s mobile carriers are getting ready to launch the service in many cities across the nation.SK Telecom, the country’s top mobile carrier, has announced it will commercialize the technology in Seoul next month by establishing 6
IndustryJune 19, 2011
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No bid for banking unit of Korea Post: KDB
KDB Financial Group Inc. denied a news report that the state-owned company plans to acquire banking businesses of Korea Post.KDB officials said Saturday that the company has not reviewed such plan. The report came after the government went against a move by KDB to take over the public-funded Woori Financial Group. KDB has sought to become a “mega” bank in Korea to expand its business overseas.(shi
June 19, 2011
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Seoul bourse to face volatility this week
The Korean stock market is expected to face volatility this week as eurozone countries are still mired in a deadlock over solutions to the worsening Greek debt crisis, analysts said.The country’s key stock index, the KOSPI, shed 0.72 percent, or 14.74 points, to close at 2,031.93 on Friday. Losses in tech and large cap shares led the market declines.Last week, the local share market suffered a sev
June 19, 2011
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U.S. meat imports spike on animal disease
Korean imports of U.S. pork and beef rose at a far faster pace than those of other overseas meat products this year following the outbreak of a contagious animal disease here, government data showed Sunday.Imports of U.S. pork spiked about 2.5-fold from a year ago to 82,569 tons in the January-May period, with overall pork imports rising 121 percent to 179,985 tons, according to the data by a gove
June 19, 2011
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Local banks’ exposure to Greece tops $500m
Local bank’s exposure to debt-burdened Greece tops $500 billion but it poses limited impact on the local financial market even in the case of a default, financial authorities said Sunday. The Financial Supervisory Service said the bonds issued by Greek shipping companies were not so large here as of the end of March. The agency did not disclose a bank-by-bank breakdown of the figure but emphasized
June 19, 2011
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[Herald Interview] IMF: Rate hikes should help tame stock volatilities
IMF, Finance Ministry split on focus of capital control measuresKorea should raise its policy rate faster to discourage volatile capital inflows into stocks and boost the effectiveness of capital barriers currently in place, Subir Lall, Internaional Monetary Fund's Mission Chief for Korea said.The head of the IMF delegation here assessed Korea’s capital flow management “effective,” but said more c
June 19, 2011
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Auto Build selects Morning as best compact
Kia’s MorningAuto Build, the world’s most circulated car magazine from Germany, selected Kia’s Morning as the best compact car in the world, The Hyundai Kia Automotive Group said.In a comparative analysis of the world’s compact cars, the magazine selected Kia’s latest version of Morning city car as the best model for driving comfort, followed by Hyundai’s i10.Other candidate models included Fiat P
MobilityJune 19, 2011
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China car market to begin recovery in 6-12 months
MobilityJune 19, 2011
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GM offers Transformers pre-screenings
GM Chevrolet cars featured on “Transformers: Dark of the Moon”GM Korea Co. is offering customers an opportunity to apply to watch a pre-screening of “Transformers: Dark of the Moon” in advance of its opening to the Korean public, the company said. The third installment of Michael Bay’s Hollywood blockbuster will be available for pre-screening by Monday June 20 on Chevrolet’s event website at www.e
MobilityJune 19, 2011
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Renault Samsung bullish on new SM7
Marketing chief says new SM7 beats rivals, firm recovering from Japan quake impactThe revamped SM7, to be released within three months, will be successful in the country’s upper largesized sedan market with its improved driving comfort, Frederic Artaud, marketing chief at Renault Samsung, predicted Sunday. “As showcased and proved at the Seoul Motor Show 2011, Renault Samsung is highly confident o
MobilityJune 19, 2011
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New Internet era beckons with firm domain names
SINGAPORE (AFP) ― The Internet is poised for potentially one of its biggest shakeups in years as an industry body prepares to vote on Monday on a proposal to open up new domain suffixes for private companies.Under the changes to be decided at a meeting in Singapore, businesses would no longer be restricted to the list of generic top level domains that include .com, .net and .org when they apply to
IndustryJune 19, 2011
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Prepaid mobile service to debut in S. Korea next month
SEOUL, June 19 (Yonhap) -- Eyesvision Co., a new entrant to the South Korean mobile phone market, said Sunday that it plans to launch prepaid wireless service through a leased network in the country next month.Eyesvision, which sells prepaid cards for international phone calls, said that it has agreed with SK Telecom Co. to lease the top mobile carrier's network and to roll out prepaid mobile phon
TechnologyJune 19, 2011
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Games company Sega becomes latest hacking victim
LONDON (AP) _ Video game developer Sega said that its online database has been hacked, making it the latest in a string of games companies to be attacked. The company sent an email to users of the Sega Pass system on Friday to warn them that email addresses, dates of birth and encrypted passwords had been stolen from online database. The email stressed that no financial information was at r
TechnologyJune 19, 2011
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Japanese lab makes meat from excrement
Mitsuyuki Ikeda, a researcher from the Okayama Laboratory has developed beef based on proteins from human excrement, the Huffington Post reported Friday. His idea was inspired when Tokyo sewage plant asked him to explore possible uses for the sewage and Ikeda found that the sewage contained a great deal of protein. The final product is made up of protein (63 percent), carbohydrates (25 percent), m
TechnologyJune 19, 2011
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S. Korea's mortgage rates hit 30-month high
SEOUL, June 19 (Yonhap) -- South Korean mortgage rates have soared to a near 30-month high due to the central bank's rate hike, sources said Sunday, raising concern that an increase in household interest costs could dampen consumer spending.Following a two-month freeze, the Bank of Korea on June 10 hiked the benchmark seven-day repo rate by a quarter percentage point to 3.25 percent for this month
June 19, 2011
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Cnet picks Samsung's PDP TV as best TV of year
SEOUL, June 19 (Yonhap) -- Cnet.com, a major U.S. technology review site, selected Samsung Electronics Co.'s plasma display panel (PDP) TVs as the best TV of the year, industry sources said Sunday.Cnet said the D8000 series, which consists of a string of Samsung's PDP TV models, outperformed rivals' products released in the U.S. market this year, according to a Samsung official.Judges of the U.S.
IndustryJune 19, 2011
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IMF urges BOK to tame inflation
Delegation calls for speedy hikes in key rate and currency appreciationA delegation from the International Monetary Fund on Friday advised Korea to take tighter monetary policy and pull up its currency value to tame mounting inflationary pressure.Speaking at a news conference after winding up its two-week inspection of the Korean economic situation, the delegation said it is necessary for Korea to
June 17, 2011
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Asiana Airlines to buy 3 Korea Express units
Asiana Airlines Inc. said Friday that it will buy three Korea Express Co. units ― Aas Airport Service, Asiana Airport Development Co. and Kumho Terminal Co. In its regulatory filing, the nation’s second-largest air carrier said it will purchase Kumho Terminal for 255.5 billion won ($235.3 million), Asiana Airport Development for 67.7 billion won and Aas Airport Service for 38.3 billion won. With t
IndustryJune 17, 2011
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Lawmakers agree on BOK inspection right
The National Assembly is poised to settle the long-standing dispute over whether to provide the nation’s central bank with independent authority to inspect financial companies.Ruling and opposition lawmakers have reportedly reached a consensus to pass the proposed revision of the law on the Bank of Korea as early as this month, according to the political sector.The revised bill has been pending at
June 17, 2011