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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Korea unveils tax reform bill to spur economy
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Actor’s excessive airport security sparks probe into human rights violations
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Crowded public transport, long commutes top stressors for Seoul, Gyeonggi workers: survey
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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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Chaebol heirs prove their mettle as leaders
Third-generation members of business families moving up the executive ladderThird-generation chaebol family members appear to be rapidly consolidating their positions at the country’s largest conglomerates.Among the grandchildren of chaebol founders, Hyundai Motor Group’s Chung Eui-sun is taking the fastest route to the top. On Aug. 20, 2009, Hyundai Motor Group promoted chairman Chung Mong-koo’s
IndustryJune 15, 2011
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Google invests $280 million to spur home solar
NEW YORK (AP) ― Google is making its largest investment yet in clean energy in an effort to help private homeowners put solar panels on their rooftops.The $280 million deal with installer SolarCity is the largest of its kind. SolarCity can use the funds to pay for a solar system that it can offer to residents for no money down. In exchange, customers agree to pay a set price for the power produced
IndustryJune 15, 2011
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Recharged Ford sets sights on Asia
DETROIT (AFP) ― With its turnaround in North America essentially finished, Ford Motor Co. is looking to the next act in its comeback by building its business in Asia’s emerging markets.Ford plans to grow global sales by 50 percent over the next four years with a strong push into markets such as China and India, chief executive officer Alan Mulally said last week. A Ford Motor Co. Mondeo at the Aut
IndustryJune 15, 2011
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Sleepy people eat more: study
People suffering from sleep deprivation are likely to be unable to resist high calorie foods, a study found.Inadequate sleep leads to an increase in the hormone ghrelin, which tells you when to eat, and decreases in the hormone leptin, which tells you to stop eating, Shelby Freedman Harris, an author of the report, said.People suffering from lack of sleep have less leptin and more ghrelin. The imb
TechnologyJune 15, 2011
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TV-watching boosts heart, diabetes, death risks: study
(MCT)WASHINGTON, (AFP) - A review of published studies in the past 40 years has shown a higher risk of diabetes, heart problems and early death among people who watch lots of television, US researchers said Tuesday.The results of the meta-analysis performed by scientists at the Harvard School of Public Health are published in the June 15 issue of the Journal of the American Medical Association.Mor
TechnologyJune 15, 2011
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Airbus to introduce see-through plane by 2050
Airbus, the world’s largest aircraft manufacturer, said it would look to develop planes which all passengers can enjoy the view by 2050. In the plane, people would no longer have to grab a window seat to get a glimpse of sky, but could enjoy the views through glass ceilings. There also will be no division of classes of seats, it said.Charles Champion, executive vice president of Airbus, told repor
IndustryJune 15, 2011
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S. Korea's jobless rate stands at 3.2 pct in May
South Korea's jobless rate remained unchanged in May from a year earlier, but it fell sharply from the previous month as the private sector increased employment amid an economic recovery, a government report showed Wednesday.The jobless rate was 3.2 percent last month, unchanged from the same month a year earlier, according to the report by Statistics Korea. However, it was down from 3.7 percent i
June 15, 2011
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Lone Star ineligible as KEB's major shareholder: lawmaker
Lone Star Funds is ineligible as Korea Exchange Bank's major shareholder since the U.S. private buyout fund's 2003 acquisition of the South Korean lender may be illegal, a lawmaker said Tuesday.The remarks come as Lone Star Funds is in talks with Hana Financial Group Inc., the country's No. 4 banking group, to settle the sale of its 51.02 percent stake in KEB for 4.69 trillion won ($4.3 billion).I
June 14, 2011
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KDB Financial forced to give up Woori
Regulator grants equal opportunities for local and foreign biddersThe financial authorities have decided to allow foreign investors to participate in the coming bidding for Woori Financial Group, reversing their earlier stance to hand over the state-run group to a Korean investor.With the decision, former Finance Minister Kang Man-soo, who is serving as chairman of KDB Financial Group, has failed
June 14, 2011
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KT, NHN to join hands for Wi-Fi ad
Korea’s telecom titan KT Corp. and NHN Corp., the operator of Korea’s most-visited Web search engine, will set up a joint venture next month to offer mobile ads for wireless-fidelity users, the companies said Tuesday. KT and NHN Business Platform Corp., NHN’s affiliate providing ad sales and information technology infrastructure, will each invest 3 billion won ($2.76 million) in the joint venture,
IndustryJune 14, 2011
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POSCO opens 1st overseas facility for processing steel thick plates
POSCO opened its first overseas thick-plate processing center in China on Tuesday. These are steel plates thicker than 6 millimeters used in shipbuilding and heavy equipment production.The center, POSCO-China Dalian Plate Processing Center or POSCO-CDPPC, is located on Changxing Island of the coast of Dalian in Liaoning province, Northeast China. “China was chosen for the site of the company’s fir
IndustryJune 14, 2011
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Korea to build unmanned boats for research, surveillance
Korea plans to develop unmanned boats for maritime research and surveillance by investing 20 billion won ($18.5 million) over the next five years, the government said Tuesday.The automated boats will sail at a speed of up to 90 kilometers per hour within a 16 kilometers radius and avoid collisions with other vessels or obstacles, the Ministry of Land, Transport and Maritime Affairs said in a state
IndustryJune 14, 2011
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Hyosung develops high-strength carbon fibers
Hyosung Corp., a Korean maker of chemicals and automatic teller machines, said Tuesday it has developed the country’s first high-strength carbon fibers, paving the way for the next-generation fabrics that are lighter, stronger and more elastic.The ultra-thin materials have stepped into the limelight in recent years as their low weight, high-tensile strength and temperature tolerance made them desi
IndustryJune 14, 2011
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Samsung Electronics begins Olympic promotion
Samsung Electronics announced on Tuesday that it has begun its London Olympics promotion campaign. The promotion campaign sponsored by Samsung Electronics, which is the event’s official mobile telecom sponsor, will be held under the theme “Everyone’s Olympic Games.”The company also began the process of selecting the runners for the torch relay. Samsung Electronics plans to select young people from
IndustryJune 14, 2011
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Most productive workforce shrinks
Trend is likely to continue, hurting economic competitiveness Core productiveThe most productive workforce aged between 25 and 49 has begun shrinking for the first time in recorded history, data showed on Tuesday, marking a trend likely to continue and weigh down on competitiveness of the economy.The Statistics Korea said the core productive population stood at 19.54 million as of end-2010, down 3
June 14, 2011
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Institutional investors drive shares up 1.37%
Korean stocks ended 1.37 percent higher on Tuesday as institutional investors scooped up carmakers and financial shares, overshadowing concerns over the eurzone debt crisis, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 28.09 points to 2,076.83, the second straight session of gains.Trading volume was light at 207 million shar
June 14, 2011
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Korea logs record account surplus with China
Korea posted a record current account surplus with China in 2010 as exports to the world’s fastest-growing economy hit an all-time high, the central bank said Tuesday.Korea’s current account surplus with China reached $52.8 billion last year, compared with a $37.9 billion surplus in 2009, according to the Bank of Korea.It marked the largest surplus since 1998 when the BOK began to compile related
June 14, 2011
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Korea eyes electricity price hike
June 14, 2011
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Korea to beef up efforts to curb household debt: FSC
Korea plans to beef up efforts to curb the growth of household debt and mend the practice of extending home loans in a bid to prevent household indebtedness from increasing market instability, the financial watchdog said Tuesday. Korea’s household debt stood at 801.4 trillion won ($738.2 billion) as of the end of March, accounting for 86 percent of the country’s gross domestic product. The number
June 14, 2011
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[Herald Interview] ‘Ethics training imperative for bankers and regulators’
Deploying an industry wide business ethics program for bankers and regulators is imperative to uproot irregularities and cut long-held collusive ties, the chief Asia economist at HIS Global Insight said in Seoul on Tuesday.“Ethics need to be taught and shared among peer groups. Professionals above graduate level often have never had chances to train themselves on what is right and wrong in specifi
June 14, 2011