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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IMF approves $36.8b loan to Portugal
WASHINGTON (AFP) ― The International Monetary Fund on Friday approved a 26-billion-euro ($36.8 billion) three-year loan to Portugal as part of a European Union bailout of the struggling eurozone country.The “front-loaded” program makes about 6.1 billion euros “immediately available to Portugal” from the IMF, the Washington-based institution said in a statement.“The financing package is designed to
IndustryMay 22, 2011
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Germany backs Lagarde for IMF job
BERLIN (AP) ― Germany’s finance minister on Saturday added to a chorus of calls for France’s Christine Lagarde to become a new leader of the International Monetary Fund.Lagarde has emerged as a front-runner to replace Dominique Strauss-Kahn, also of France, who resigned this week to face charges in New York that he tried to rape a hotel maid. He denies the charges. French Finance minister Christin
IndustryMay 22, 2011
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Choi joins with SKT to help underprivileged youth
Players champion donates W100m to build youth center in North JeollaChoi Kyoung-ju, the first Asian to win the Players Championship earlier this month, offered to donate 100 million won ($92,353) to establish a youth support center in North Jeolla Province at an event in Jeju on Saturday.In a joint effort with SK Telecom, Choi’s donation will be used for establishing a “1318 Happy Zone” center for
IndustryMay 22, 2011
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Iceland's Grimsvotn volcano erupting
REYKJAVIK, Iceland (AP) _ Iceland closed its main international airport Sunday as a volcanic eruption sent a plume of ash, smoke and steam 12 miles (20 kilometers) into the air.Smoke rises from the Grimsvotn volcano in Reykjavik, Iceland, Saturday. (AP-Yonhap News)Airport and air traffic control operator ISAVIA said Keflavik airport was closed at 0830 GMT (4:30 a.m. EDT), and no flights were takin
TechnologyMay 22, 2011
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Pope blesses astronauts in 1st papal call to space
CAPE CANAVERAL, Florida (AP) _ Pope Benedict XVI had a direct line to the heavens Saturday, with NASA's help.Speaking from the Vatican, the pontiff bestowed a historic blessing upon the 12 astronauts circling Earth during the first-ever papal call to space, wishing a swift recovery for the shuttle commander's wounded congresswoman wife and condolences for a station astronaut mourning his mother's
TechnologyMay 22, 2011
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HTC ups commitment to woo Korean consumers
Jack Tong, president of HTC’s North Asia markets, on Friday pledged to beef up commitment on the observation that Korea is a “difficult place” for a foreign brand to succeed mainly due to the competition posed by strong local brands.“I have to admit it is not easy. The Korean market is the most difficult and challenging market for foreign brands,” Tong said. “It’s difficult for the foreign brands
IndustryMay 20, 2011
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SKT Wi-Fi zone would be exclusive
SK Telecom plans to shut down its free wireless Internet services to subscribers of other mobile carriers starting from July, stoking discontent among smartphone users.The country’s largest mobile carrier said Thursday it would change its Wi-Fi operation policy and only open the service to subscribers of SKT beginning on July 1.“The measure has been drafted for our own customers to enjoy the servi
IndustryMay 20, 2011
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Neowiz COO picked as game group head
The Korea Association of Game Industry announced Friday that it seated Choi Kwan-ho, chief operating officer of Neowiz Games, as its chairman, filling in the position which was left vacant for three months.In a press conference held in southern Seoul, Choi said he plans to file a constitutional petition in protest of the government’s decision to implement the new “Cinderella law” later this year.T
IndustryMay 20, 2011
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No. of elderly weddings doubles in 10 years
Getting married is becoming increasingly popular among the elderly. Over 18,791 couples aged 50 years old or more got married last year alone, the highest figure on record. According to Statistics Korea, The number is 3.7 times increase from 1990 when only 5,014 couples in the same age group chose to wed their partner. It is also almost double the 8,928 newly married elderly couples in 2000.“The p
May 20, 2011
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Hana says will agree KEB deadline delay with Lone Star
Hana Fnancial Group chairman Kim Seung-yu said Friday that his company would be able to agree with the U.S. Lone Star Funds to extend the deadline for the takeover of Korea Exchange Bank. “We can draw a conclusion by next weekend,” Kim told The Herald Business, the sister paper of The Korea Herald.The two sides are in talks to extend their May 24 deadline. Kim reportedly flew to Tokyo on Wednesday
May 20, 2011
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Study finds dark energy exapands universe
(AP-Yonhap News)The existence of “dark energy” that accelerates expansion of the Universe has been confirmed by an astronomical survey of about 200,000 galaxies, BBC reported. Dark energy makes up some 74 percent of the Universe and its force pulls the Universe apart at increasing speed. “The action of dark energy is as if you threw a ball up in the air, and it kept speeding upward into the sky fa
TechnologyMay 20, 2011
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Taiwan's HTC to debut new smartphone in S. Korea
HTC's new smartphone unveiled in Seoul on Friday (Yonhap News) HTC Corp. said Friday it will release its new flagship smartphone in South Korea next week, hoping that the phone's movie streaming feature will help the Taiwanese firm gain ground. SK Telecom Co., South Korea's largest mobile phone carrier, will exclusively release the Sensation smartphone on May 25, said HTC's North Asia Pr
TechnologyMay 20, 2011
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State pension fund CEO stresses shareholder rights
Korea's national pension fund needs to rigorously exercise its shareholder rights as it is along-term investor with massive assets under management, its headsaid Thursday.Controversy has heated up over whether pension funds should exercise their shareholder rights in the country's family-ownedconglomerates since Kwak Seung-joon, a key presidential aide,brought up the issue last month."Exercising s
May 19, 2011
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Samsung C&T leads green innovation in construction
Samsung C&T Corp., the country’s No. 2 builder, is strengthening its eco-friendly capabilities to take the lead in applying green technologies to the construction sector.The company, which developed the zero-energy building Green Tomorrow, has been strengthening research and development efforts, as well as securing a pool of experts. Green Tomorrow contains 68 eco-friendly technologies, allowing t
IndustryMay 19, 2011
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STX Heavy signs W3tr Iraq power plant deal
STX Heavy Industries Co. announced Thursday that it has signed a 3 trillion won ($2.77 billion) contract to build power plants in Iraq.The contract was signed in Baghdad at a ceremony attended by STX Heavy Industries chief executive Lee Chan-woo, Iraqi Prime Minister Nouri al-Maliki and Electricity Minister Raad Shallal. STX Heavy Industries Co. and Iraqi officials including CEO Lee Chan-woo (thi
IndustryMay 19, 2011
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Samsung wins award for 3-D TV
Samsung Electronics has received the Best in Show award for its 70-inch “Ultra Definition” 3-D technology at this year’s Display Week 2011, the company said on Thursday. The Society for Display, a leading global organization dedicated to electronic display technology and organizer of the event, announced the selection of Samsung Electronics at Display Week, which is being held in Los Angeles this
IndustryMay 19, 2011
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POSCO Power completes first hydrogen fuel cell stack
The country’s first hydrogen fuel cell stack developed with local technology was completed, POSCO Power announced Thursday.Affiliate of the steelmaker POSCO, POSCO Power is the country’s largest private power generating firm.POSCO Power’s fuel cell stack has a generating capacity of 1.4 megawatts, which according to the company is sufficient to supply 1,600 households. POSCO Power employees work
IndustryMay 19, 2011
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Pantech SKY unveils high-speed Vega Racer
Pantech SKY unveiled the world’s first Android-powered smartphone equipped with Qualcomm’s speedy 1.5 gigahertz dual core processor called Vega Racer on Thursday.The company said that its new smartphone with a 4.3-inch display screen would be available in four different colors and serviced by the country’s three telecom suppliers ― SK Telecom, KT Corp. and LG Uplus.“We attempted to upgrade the dua
IndustryMay 19, 2011
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[News Focus] Mixed fate for Hynix, Korea Express
Two heavyweight firms up for grabs on local M&A marketThe company boasts a healthy financial report card, and has long-term expertise in logistics as one of the nation’s first logistics firms ― it was established in 1930. No one for Hynix Hynix, due to its heavy dependence on research and technology, is considered a business that is not as lucrative as expected because of the capital it is forced
IndustryMay 19, 2011
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Overseas investment fair kicks off
The Korea Overseas Investment Fair 2011 kicked off Thursday in Seoul to provide Korean companies with comprehensive information on foreign investment, according to the Korea Trade-Investment Promotion Agency, its organizer. In the two-day event at COEX in southern Seoul, officials from 29 countries in Europe, Asia, Africa, the Middle East and Latin America had one-on-one meetings and discussed bus
IndustryMay 19, 2011