Most Popular
-
1
Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
-
2
Yoon urges municipalities to embrace foreigners
-
3
What is happening at Hybe?
-
4
S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
-
5
Korea unveils tax reform bill to spur economy
-
6
Actor’s excessive airport security sparks probe into human rights violations
-
7
Man who let his father die due to financial difficulties to be released on parole
-
8
Actor Yoo Ah-in accused of sexual attack
-
9
S. Korea, China shifting from tensions to cooperation: Seoul
-
10
LG Electronics achieves record earnings in Q2
-
Facebook-Google rivalry intensifies with PR fiasco
The intense rivalry between Facebook and Google just got juicier.In a twist seemingly out of a Hollywood thriller, Facebook hired a prominent public relations firm to try to plant stories harshly criticizing Google's privacy practices in leading news outlets. The efforts backfired when the firm approached a blogger who not only declined the assignment, but also went public with the offer.The lates
TechnologyMay 13, 2011
-
BOK freezes key rate at 3 %
BOK freezes key rate at 3 % South Korea's central bank unexpectedly froze the key interest rate on Friday for the second straight month as economic uncertainty such as the eurozone debt crisis persists even in the face of inflation risks. Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers held steady the benchmark seven-day repo rate, dubbed the base rate, at 3 percent for May.
May 13, 2011
-
[Urgent] BOK freezes key rate at 3 pct for 2nd month
South Korea's central bank unexpectedly froze the key interest rate on Friday for the second straight month as economic uncertainty such as the eurozone debt crisis persists even in the face of inflation risks.Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers held steady the benchmark seven-day repo rate, dubbed the base rate, at 3 percent for May.The decision came as a surprise
May 13, 2011
-
Prosecutors discover more FSS misconduct
Prosecutors have uncovered additional alleged ethical breaches by former and incumbent staff at the Financial Supervisory Service.The further allegations of corruption by FSS officials are adding to public criticism the regulatory body is facing for its irregularities in supervising savings banks.The alleged scandals mostly involve FSS staff overlooking illegitimate practices in the market in retu
May 12, 2011
-
Hostess bars grow despite recession
There were more hostess bars at the height of the financial crisis than five years previously, showing, the entertainment business resilience even while most other sectors suffered, a government report said Thursday.The data collected by the Ministry for Food, Agriculture, Forestry and Fisheries said 609 hostess bars, or room salons, opened between 2004 and 2009.There were 30,466 hostess bars as o
May 12, 2011
-
Korea to curb rise in farm emissions
South Korea plans to considerably decelerate the growth in greenhouse gases emitted by the country’s farming sector as part of its broader efforts to help stem global warming, the government said Thursday.The plan also calls for increasing the country’s overall greenhouse gas absorption capabilities by around 6 percent over the next decade, the Ministry for Food, Agriculture, Forestry and Fisherie
IndustryMay 12, 2011
-
Over 8 million jobs taken by 50s or older
The number of employed people over 50 has exceeded 8 million for the first time, reflecting an older workforce brought on by Korea’s fast-aging society. Statistics Korea said Thursday that the number stood at 8.02 million as of the end of April, up 313,000 from the previous month. The figure is the highest ever recorded for the age group and is more than double the level in 1991, 4.03 million.The
May 12, 2011
-
Korean Air to hire 500 more flight attendants
Korean Air, the country’s No. 1 air carrier, said Thursday that it will recruit an additional 500 flight attendants this month.The recruitment, which is on the largest scale ever, comes shortly after the company hired a total of 500 employees in February and March, company officials said.The air carrier also said that it will hire another group of 500 in the latter half of this year, which means 1
IndustryMay 12, 2011
-
Google’s Android dominates OS market, boosted by key vendors
Recent research has found that more than three in 10 wireless gadget users own an electronic device that runs on Google’s Android mobile operating system, putting strong emphasis on its openness.According to a market research firm Strategy Analytics’ data, the Android OS garnered a 35.9 percent share in the global OS market, followed by Nokia’s Symbian and Apple’s iOS with 26.3 percent and 18.1 pe
IndustryMay 12, 2011
-
Samsung ‘unfazed’ by competition
Group’s semiconductor chief skeptical of Elpida’s DRAM chip claimsSamsung Electronics appeared to be keeping its cool despite concerns about intensifying competition posed by global IT companies such as Apple, Elpida and Intel, with officials saying there was no cause for real alarm.In addition to the latest move from Apple Inc., which in April sued Samsung for copyright infringement ahead of the
IndustryMay 12, 2011
-
Money supply growth declines to 7-year low
Korea’s money supply grew at the weakest pace in nearly seven years in March as payments of corporate tax drained money circulation, the central bank said Thursday. The country’s M2, a narrow measure of its money supply, reached 1,677.5 trillion won ($1.55 billion) in March, marking a 4.3 percent increase from the figure posted a year earlier, according to the Bank of Korea. The March reading was
May 12, 2011
-
Banks to buy W1tr in toxic loans in June
Eight major commercial banks will next month purchase toxic loans totaling 1 trillion won ($923.6 million) issued to the construction sector as part of a bid from the nation’s financial regulators to minimize the negative impact of such loans on the market.Financial companies have issued loans to builders in the name of “project financing” over the past few years. But in the wake of the 2008 globa
May 12, 2011
-
Home-backed lending jumps W2.4tr in April
Korean banks’ home-backed loans grew by the largest amount in four months in April as the economic recovery spurred loan demand, the central bank said Thursday.Local banks’ mortgage loans reached an outstanding 292.3 trillion won ($269 billion) as of the end of April, up 2.4 trillion won from the previous month, according to the Bank of Korea.The April number jumped from a 2.1 trillion won on-mont
May 12, 2011
-
FSC delays ruling on Lone Star’s eligibility
Decision spurns speculation that Hana Financial-Lone Star deal may break downThe Financial Services Commission announced Thursday that it has decided to indefinitely delay its ruling on whether Lone Star Funds of the U.S. was eligible to buy Korea Exchange Bank in 2003.With the decision, speculation is rising in financial markets that the preliminary contract between Hana Financial Group and Lone
May 12, 2011
-
Safdie bids for Incheon Airport terminal No. 2
Famed architect Moshe Safdie on Thursday said his team aimed to incorporate elements unique to Korean culture in his design bid for a second terminal at Incheon International Airport. Addressing reporters in Seoul, the star designer of Singapore’s Marina Bay Sands Resort detailed his ambitions to take on what would be his third airport project. “In the old days, people coming to Seoul felt their f
May 12, 2011
-
Samsung eyes $10b revenue in southern Africa by 2015
NAIROBI (Yonhap News) ― Samsung Electronics Co. aims to post $10 billion in revenue by 2015 in Sub-Saharan Africa with its consumer electronics and mobile products built for the market, the chief of the company’s African unit said Wednesday.Samsung has been stepping up efforts to make inroads into the African market, which has a population of 1 billion with a growing number of middle-class people,
May 12, 2011
-
LG announces mutual growth scheme
40 billion won R&D plan to start with focus on boosting productivityLG Electronics said Thursday that it will invest 40 billion won ($36.86 million) in research and development with its subcontractors for the next five years as part of its mutual growth plan.In a meeting with about 200 subcontractors at its R&D Center in southern Seoul, the company’s vice chairman Koo Bon-joon said they were all i
IndustryMay 12, 2011
-
Fatty heart increases heart disease risk
Having a lot of fat around your heart leaves you susceptible to cardiovascular diseases even if you are not overweight, a group of local doctors said.According to research by Prof. Chun Eun-joo and Choi Sang-il of Seoul National University Bundang Hospital on 402 people, those with a lot of fat around their heart were 10 times more likely to get coronary artery stenosis, a narrowing of the carotid
TechnologyMay 12, 2011
-
Lupus awareness campaign in Seoul
The Korean Lupus Support Group is holding a campaign to raise awareness about lupus, a chronic autoimmune disease, at Cheonggye Plaza in central Seoul on Friday. The event marks World Lupus Day that fell on Tuesday.According to the Lupus Foundation of America’s definition, lupus is disease that can affect any part of the body as the “malfunctioning” immune system turns the body against itself. Nor
TechnologyMay 12, 2011
-
St. Mary’s Hospital adds sickbeds
Seoul St. Mary’s Hospital added 161 beds to its 1,159 sickbeds in the main building on Wednesday. A total of 44 beds and 16 armchairs will be located at the cancer center for use by chemotherapy outpatients. About 87 percent, or 125, of the beds will be allocated to wards that have five beds covered by the national health insurance. “The increase of sickbeds will enable more patients to receive in
TechnologyMay 12, 2011