Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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Legoland Korea Resort to open until 9 p.m.
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[Weekender] How DDP emerged as an icon of Seoul
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Ho-Am prize recognizes social contributions
Ho-Am Foundation on Tuesday awarded the Ho-Am Prize to four individuals and one institution to recognize their contribution to improving human lives and promoting public welfare.This year’s prizes went to Professor Ha Taek-jip of the University of Illinois for science, Professor Thomas Lee of Standford University for engineering, Professor Augustine Choi of Harvard Medical School for medicine, vio
IndustryApril 5, 2011
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Budget deficit less than forecast
Korea’s government budget deficit and liabilities in 2010 came in at less than previously forecast, thanks mainly to faster-than-expected growth in Asia’s fourth-largest economy, the Finance Ministry said on Tuesday.The government debt grew more than 30 trillion won ($27.6 billion) last year from a year earlier as the government had to expand borrowing to fill its budget shortfalls.According to a
April 5, 2011
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FSS faces hurdles in Lone Star ruling
Some lawyers claim the U.S. fund should not have been allowed to buy KEBFinancial regulators face a bumpy road in their scheduled ruling on whether Lone Star Funds was eligible to acquire Korea Exchange Bank in 2003.Over the past few weeks, the Financial Supervisory Service asked 10 major law firms to make legal reviews on the U.S. buyout fund’s eligibility as KEB’s biggest shareholder.At least on
April 5, 2011
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Korea to forge mobile commerce network
South Korea will forge a mobile radio-frequency identification network in metropolitan regions by the end of the year to promote mobile commerce, the Ministry of Knowledge Economy said Tuesday.The technology allows users to pay for items by flashing RFID-imbedded mobile phones in front of wireless readers.The RFID system has already been used in the country for transportation cards and wireless ex
IndustryApril 5, 2011
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Australia leaves key rate steady
Australia’s central bank left its benchmark interest rate at the highest level in the developed world as floods disrupt coal mining in the nation’s northeast and a rising currency tempers inflation. Reserve Bank of Australia Governor Glenn Stevens held the overnight cash rate target at 4.75 percent for a fourth straight meeting, as forecast by all 25 economists surveyed by Bloomberg News. He calle
IndustryApril 5, 2011
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Google founder hopes to prove he's ready to be CEO
SAN FRANCISCO (AP) _ Larry Page has the vision, passion and intelligence that Google Inc. needs in its next leader. Yet as he becomes CEO Monday, the Google co-founder must prove that his aloofness, rebellious streak and affinity for pursuing wacky ideas won't alienate investors and lead the company astray.He's taking over amid emerging threats from rapidly growing rivals and more vigilant re
TechnologyApril 5, 2011
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[News focus] 44% of Korea’s tenants now rent
More low-income class pushed to live in rented homes as ‘jeonse’ fees riseA growing number of homeowners are shifting from the uniquely Korean way of leasing property based on lump-sum deposits, called jeonse, in favor of a monthly rental system. Research showed on Monday the portion of tenants living on monthly rent doubled over the past 16 years, driven by low interest rates, falling home prices
April 5, 2011
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More mothers sharing breast milk but experts warn of risk
WALNUT CREEK, California ― After the birth of her daughter five years ago, Cynthia Li, of Berkeley, California, was diagnosed with a severe thyroid condition and was unable to breast feed.Knowing the benefits of human milk, Li didn’t want to use formula and lamented her situation to a friend. The friend offered to send out a mass email on Li’s behalf asking like-minded moms to donate their extra b
TechnologyApril 4, 2011
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Latin-inspired Zumba workout blends fun, fitness
Beneath glinting disco balls and festive decor, illuminated by multicolored strobe lights, the group ― all beaming, glistening with sweat ― are caught up in hip-shaking, body-swirling dance moves. But this isn’t a nightclub. This is Zumba ― a Latin-inspired fitness program that has gripped dance and exercise lovers in more than 110 countries and has now landed in Itaewon, Seoul. “Zumba has changed
TechnologyApril 4, 2011
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Nonlisted chaebol units engaged in internal trade
Unlisted subsidiaries of Korea’s leading family-controlled conglomerates depend heavily on international trading for their sales, data showed Monday, raising concerns over conglomerates’ attempts to transfer wealth and dodge taxes.Twenty unlisted firms, whose biggest shareholders are the heirs of the group owners, saw their combined sales from internal transactions reach 3.42 trillion won ($3.1 bi
IndustryApril 4, 2011
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Kookmin won’t sell parent shares to market
The head of KB Financial Group Inc. said Monday that its flagship banking unit plans not to unload shares in the parent group in the local market in a bid to minimize its market impact.Korea’s top lender, Kookmin Bank, bought about 21 percent stake in its parent, KB Financial Group, in September 2008 when the group was created. By banking law, the bank is required to unload around 9 percent stake
April 4, 2011
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Korea to spend W1tr on energy research
Korea plans to spend 1.03 trillion won ($947 million) this year to promote renewable energy development research and nuclear safety projects, the government said Monday.The amount represents a 3.1 percent gain from 1.01 trillion won spent on energy R&D in 2010. The sum is equal to 6.9 percent of the government’s overall R&D plan of 14.9 trillion won set aside for this year.The Ministry of Knowledg
IndustryApril 4, 2011
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Outlook for Korean exports remains strong for Q2
A majority of foreign importers of Korean goods expect the country’s exports to remain solid in the second quarter on increased competitiveness, a poll showed Monday.The index measuring the outlook of the country’s exports in the April-June period came to 57.5, compared with 52.7 tallied for the previous quarter, according to the survey by the Korea Trade-Investment Promotion Agency (KOTRA).The se
IndustryApril 4, 2011
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Refiners consider following SK price cuts
GS Caltex, S-Oil and Hyundai Oilbank may follow largest refinery’s decision to lower gasoline and diesel costsLeading oil refiner SK Innovation’s decision to lower retail fuel prices has prompted its smaller rivals to consider following suit. SK Innovation announced Sunday that it will reduce the prices of gasoline and diesel sold at its stations nationwide stations by 100 won ($0.09) per liter fo
IndustryApril 4, 2011
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Won climbs to 30-month high
Korea’s won climbed to a 30-month high and bonds declined after the U.S. jobless rate unexpectedly dropped to a two-year low in March, spurring optimism that a global recovery is gaining momentum.Overseas investors increased their holdings of Korean shares for a 13th day, the longest streak of net purchases this year. The nation’s foreign-exchange reserves rose to $298.62 billion at the end of Mar
April 4, 2011
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Banks’ overseas earnings rise 29%
Korean banks saw total earnings from their overseas operations jump 28.8 percent last year from a year earlier thanks to an increase in interest income, the financial regulator said Monday. Net income by 92 overseas units and branches operated by 11 local banks stood at $369.1 million in 2010, compared with $286.4 million in the previous year, according to the Financial Supervisory Service (FSS).T
April 4, 2011
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Foreigners cut local shareholdings in March
Foreign investors cut holdings of local shares for the second straight month in March amid worries over political unrest in the Middle East region, the financial regulator said Monday.Foreigners sold a net 772 billion won ($709.4 million) of Korea’s listed shares last month, further reducing local share holdings following their net selling of 3.72 trillion won in February, the Financial Supervisor
April 4, 2011
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Minister apologizes for FTA gaffe
Trade Ministry completes fixing mistakes in translation of Korea-EU agreementTrade Minister Kim Jong-hoon apologized to the public on Monday for mistakes in the Korean-language version of the Korea-E.U. free trade agreement. In a news conference, he pledged to punish officials responsible for the blunder that delayed parliamentary ratification and hurt the reputation of the trade authorities.The T
IndustryApril 4, 2011
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KDIC to sell suspended savings banks: chief
Korea’s deposit insurance agency said Monday it plans to put most of the seven suspended savings banks up for sale from as early as this month as part of the country’s widening efforts to revamp the ailing financial segment.In February, the country’s financial regulator Financial Services Commission (FSC) suspended the savings banks, including top player Busan Savings Bank and its four affiliates,
April 4, 2011
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Hyundai Heavy starts work at R&D center in Shanghai
The world’s largest shipyard Hyundai Heavy Industries announced Monday that its Shanghai-based Global Research and Development Center began operations this month.According to the company, the R&D center will first focus on developing new products and technologies in areas concerning Hyundai Heavy’s current operations in China including construction equipment and engines. In the long term, the cent
IndustryApril 4, 2011