Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Seaweed, mask sales soar on radiation fears
Fears of radiation from Japan have pushed up sales of masks and food such as kelp considered to help prevent poisoning, local retailers said Wednesday.Concerns over radiation have been rising during the past few days on news that traces of radioactive materials are being detected throughout the nation following a nuclear crisis in Japan.The state-run Korea Institute of Nuclear Safety confirmed Mon
IndustryMarch 30, 2011
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Financial regulator accused of lax supervision of banking fees
Financial regulators have been glossing over commercial banks’ long-standing practice of charging customers irregular service fees on transactions via automated teller machines.The Financial Services Commission recently held a low-key internal meeting to map out comprehensive measures to ease the growing financial burden of low- and middle-income households.During the meeting composed of FSC senio
March 30, 2011
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Renault Samsung to cut production by 20% in April
Renault Samsung Motors Co. announced Wednesday that it will cut output by 20 percent during April due to a parts shortage caused by the disasters in Japan. Renault Samsung, which stopped extra production after working hours and Saturday production on March 18, said its sole plant in Busan has been experiencing shortages in some engines and transmission supplied by Japanese firms.Renault Samsung sa
IndustryMarch 30, 2011
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Iran Bank requests end to restriction
Bank Mellat asked Korean regulators to take the company off a list of institutions whose transactions must be approved by the central bank, said Ernst Lee, a spokesman for the Financial Services Commission in Seoul.Korea last year put 102 Iranian organizations including Tehran-based Bank Mellat and 24 individuals on a list banning financial transactions without central bank approval.Yonhap News ea
March 30, 2011
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Hynix doles out first cash dividend
World’s No. 2 computer memory-chip supplier sanguine on global marketICHEON, Gyeonggi ― Hynix Semiconductor on Wednesday said it will be doling out cash dividends for the first time this year and expected more to come on the back of rosier forecasts for the memory chip market.“We expect the demand for memory chips to continue rising and as long as we continue to see profit exceeding our objectives
IndustryMarch 30, 2011
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Rising exports testament to Renault Samsung’s growing capacity
Renault Samsung Motors Co., the Korean arm of the French carmaker Renault S.A., is rapidly becoming a key player in Renault Nissan Alliance’s global sales operations with exports rising at an unprecedented pace. On March 25, the company celebrated more than 400,000 units exported since 2000.Established in September 2000, Renault Samsung’s exports have grown at a rate unseen among Korean carmakers
IndustryMarch 30, 2011
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LG Group leads campaigns to support suppliers
Chairman Koo urges affiliates to help achieve ‘shared growth’ with smaller partnersLG Group is leading the corporate sector’s campaign to buttress the competitiveness of smaller vendors and firms to help achieve a level playing field for all parties. The group’s chairman Koo Bon-moo this year proclaimed that LG would stand at the forefront of supporting mutually beneficial growth with its partner
IndustryMarch 30, 2011
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Hong Kong opens world’s highest hotel
HONG KONG (AFP) ― The world’s highest hotel opened its doors in Hong Kong on Tuesday, housed in the city’s tallest skyscraper and offering unrivalled panoramic views of the world famous Victoria Harbor.Towering some 490 meters above the bustling, chaotic streets of the Southern Chinese city, the Ritz-Carlton Hotel is making a grand comeback after temporarily closing in 2008.Visitors peered out of
IndustryMarch 30, 2011
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Smartphone market to grow 50% in 2011: IDC
WASHINGTON (AFP) ― The worldwide smartphone market will grow nearly 50 percent this year and Google’s Android will take over as the leading operating system, a technology market research firm said Tuesday.International Data Corp. said smartphone vendors are expected to ship more than 450 million smartphones in 2011 compared to 303.4 million last year.IDC said the smartphone market will grow more t
IndustryMarch 30, 2011
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Japan crisis affecting Toyota, Honda
Toyota restricts orders from U.S. dealers to preserve supply of some parts; Honda to cut outputDETROIT (AP) ― Shortages of auto parts from Japan are hitting North American operations at Honda and Toyota.Toyota Motor Corp. on Tuesday said it wants its U.S. car dealers to stop ordering more than 200 replacement parts made in Japan because it’s worried about running out of them. And Honda Motor Co. s
IndustryMarch 30, 2011
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Regulator toughens card firm regulations
Korea’s financial regulator said Wednesday it will require credit card companies to set aside more loss reserves against credit card loans amid growing concerns over burgeoning household debts.The measures to limit credit card companies’ lending and prop up their financial health came after the sector recorded sharp growth in household loans last year. Mushrooming household debts have been cited a
March 30, 2011
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Scientists develop biochip to help detect diseases, pollutants
South Korean researchers said Wednesday that they have developed a highly sensitive biochip capable of precisely detecting diseases and environmental pollutants. The new biochip has been tested to be 100,000 times more sensitive in detecting individual molecules of diseases and pollutants compared to conventional screening devices, said the state-run Korea Research Institute of Bioscience and B
TechnologyMarch 30, 2011
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BOK head calls for steady steps for household debt
South Korea's top central banker has stressed the need to steadily tackle growing household debt, which market watchers fear will undercut the country's economic growth momentum. South Korean household debts came to nearly 800 trillion won ($721.8 billion) as of the end of last year, which analysts say had been stoked by the country's low borrowing costs. In a dinner meeting with reporters
March 30, 2011
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Renault Samsung decides to cut output by 20 pct
Renault Samsung Motors Co., the South Korean unit of French automaker Renault SA, said Wednesday it will cut its output by about 20 percent from next month due to an undersupply of parts from quake-hit Japan. The company is said to import up to 18 percent of all parts for its vehicles from Japanese suppliers, largely because of Renault's strategic alliance with Japan's Nissan Motor Co. Ren
MobilityMarch 30, 2011
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S. Korea ranks 2nd in consumer prices hike in Feb.
South Korea's consumer prices grew at the second-fastest pace among member countries of the Organization for Economic Cooperation and Development (OECD) in February, data showed Wednesday. According to the data offered by the OECD, South Korea's consumer prices jumped 4.5 percent last month from a year earlier, the second steepest hike among its 34 member nations. Estonia ranked first with 5.
March 30, 2011
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S. Korean economy grows 6.2 pct in 2010
The South Korean economy grew 6.2 percent last year, the fastest expansion in eight years, as exports remained robust and facility investment jumped amid improved consumer spending, the central bank said Wednesday. The country's gross domestic product (GDP), the broadest measure of economic performance, was revised up from an earlier estimate of 6.1 percent for last year, according to the Bank o
March 30, 2011
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Broken heart burns like hot coffee, brain study of former lovers shows
Heartache over lost love is similar to the physical pain of spilling hot coffee on your lap, scientists studying brain scans say. The sting of seeing photos of an ex-lover stimulated the same parts of the brain as intense heat applied to the arms of 40 people in a study published in the Proceedings of the National Academy of Sciences. The research builds on a 2010 study published in the journal Ps
TechnologyMarch 29, 2011
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Hyundai pledges $400m to support suppliers
Hyundai Motor Group, whose flagships are Korea’s top automaker Hyundai Motor Co. and No.2 Kia Motors Corp., pledged Tuesday to provide over $400 million in support for its suppliers this year.The group’s fresh commitment came at an annual ceremony where the group and its suppliers pledge to engage in fair trade practices. This year’s event was also attended by 1,585 suppliers of Hyundai Motor and
March 29, 2011
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Ministry to downsize free economic zones
Korea has decided to downsize areas originally included as part of the country’s six free economic zones to reflect changing development requirements, the government said Tuesday.The Ministry of Knowledge Economy said a review panel ruled to exclude 12 areas covering 90.4-square kilometers of land from the FEZs, a move expected to cut back on overall costs and construction time.Seoul first designa
March 29, 2011
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Korea to host IDB annual meet in 2015
Korea will host an annual meeting of the Inter-American Development Bank in 2015, a chance that the government expects would deepen its economic cooperation with American countries, the finance ministry said Tuesday.The decision was unanimously made during the 52nd round of the IDB annual meeting that ended on Monday in Canada, the Ministry of Strategy and Finance said in a press release.Founded i
March 29, 2011