Most Popular
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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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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[Herald Interview] Guggenheim Museum makes a push for technology-based art with LG
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Samsung develops faster mobile DRAM
Samsung Electronics Co., the world’s No. 2 semiconductor maker, said Monday that it has developed a new memory chip for mobile gadgets that can transfer data at a speed eight times faster than previous devices.The WIDE IO mobile dynamic random access memory (DRAM) chip can transfer data at a speed of 12.8 gigabyte per second, compared with 1.6 gigabyte per second of previous devices, the company s
IndustryFeb. 21, 2011
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BOK bolsters foreign currency team
The Bank of Korea plans to strengthen its foreign exchange department to more efficiently manage its ever-growing currency reserves and better cope with market volatility.The central bank announced plans to overhaul its organization for the first time in 13 years, focusing on slimming down departments and enhancing international affairs capability.The nation’s foreign currency reserves reached an
Feb. 21, 2011
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KT pledges better customer satisfaction
Company designates 2011 as the year for improved customer serviceTop executives of KT Corp., the country’s biggest fixed-line service operator, on Monday offered a rare gesture showing their commitment to customer satisfaction Its chairman Lee Suk-chae and two other top officials made foot stamps at the company’s Olleh Campus in southern Seoul. The company designated 2011 as the year for drastic i
IndustryFeb. 21, 2011
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Household credit grows fastest in 8 years: BOK
Korea’s household credit grew at the fastest pace in more than eight years in the fourth quarter as economic recovery and eased lending rules spurred demand for bank mortgage loans, the central bank said Monday.Household credit, the sum of loans and credit purchases, climbed 25.3 trillion won ($22.7 billion) to 795.4 trillion won in the three months ended Dec. 31 from the previous quarter, the Ban
Feb. 21, 2011
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IBK has highest labor productivity among banks
The state-run Industrial Bank of Korea led Korean lenders in terms of labor productivity last year, government data showed Monday.According to the Financial Supervision Service, the IBK recorded 181 million won ($163,107) in profit per employee. Shinhan scored the second with 154 million won.Employees at Hana Bank came third with 118 million won and the state-run Woori Bank came fourth with 80 mil
IndustryFeb. 21, 2011
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POSCO foundation names prize winners
POSCO TJ Park Foundation announced Monday that this year’s TJ Park Prize will be awarded to a Korea Advanced Institute of Science and Technology scientist, educator and two philanthropists.The foundation, named after POSCO founder Park Tae-joon, has awarded the annual prize for outstanding achievement in the fields of science, education and social services since 2006. KAIST professor Lee Sang-yubT
IndustryFeb. 21, 2011
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Lotte Mart to launch cheap TV
Lotte Mart, one of the country’s biggest discount store chains, said Monday that it is putting a 24-inch television on sale at most of their branches for less than 300,000 won ($268).The company stirred controversy last year for selling ultra-cheap chicken, inviting criticism from smaller stores.In a joint effort with a local mid-size firm Moneual, Lotte Mart declared it will target the low-end TV
IndustryFeb. 21, 2011
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Korea Express shareholders set March 4 deadline
Korea Express Co.’s controlling shareholders have set a March 4 deadline for initial bids as they sell about 40 percent of Korea’s biggest logistics company, according to a person familiar with the situation.Arrangers Korea Development Bank and Nomura Holdings Inc. sent letters to about 10 domestic investors seeking bids, said the person, who asked not to be named because the information isn’t pub
IndustryFeb. 21, 2011
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Korea’s top housing fair kicks off
The Kyunghyang Housing Fair and Housing Brand Fair 2011, the country’s largest building materials and construction exhibition, is to kick off Wednesday, its steering committee said Monday. The two tradeshows were integrated last year, aiming to provide one large cohesive venue for professionals to create a global network.In the five-day event at KINTEX in Goyang, Gyeonggi Province, about 600 compa
IndustryFeb. 21, 2011
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KT&G to release new Davidoff
KT&G Corp., Korea’s tobacco giant, said it plans to launch a new version of Davidoff cigarettes in the local market on Wednesday. Davidoff Rich Blue is the second edition of the global premium cigarette brand owned by U.K.-based Imperial Tobacco Group PLC. The cigarette has 3 milligrams of tar, thus offering a milder taste than the first Davidoff Classic’s 6 milligrams, KT&G said Monday. Davidoff
IndustryFeb. 21, 2011
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Hyundai Motor to lower builder acquisition price
Hyundai Motor Group and the creditors of Hyundai Engineering and Construction have begun final negotiations over the price of stakes in the builder, with the carmaker expected to push for a reduction.According to industry sources, Hyundai Motor Group is seeking to reduce the amount paid for the 34.88 percent stake in Hyundai E&C due to additional debts the builder was belatedly found to be holding
IndustryFeb. 21, 2011
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Space weather could wreak havoc in gadget-driven world
WASHINGTON, (AFP) - A geomagnetic space storm sparked by a solar eruption like the one that flared toward Earth Tuesday is bound to strike again and could wreak havoc across the gadget-happy modern world, experts say.Contemporary society is increasingly vulnerable to space weather because of our dependence on satellite systems for synchronizing computers, airline navigation, telecommunications net
TechnologyFeb. 21, 2011
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Samsung develops new faster mobile DRAM
Samsung Electronics Co., the world's No. 2 semiconductor maker, said Monday that it has developed a new memory chip for mobile gadgets that can transfer data at a speed eight times faster than previous devices.The WIDE IO mobile dynamic random access memory (DRAM) chip can transfer data at a speed of 12.8 gigabyte per second, compared with 1.6 gigabyte per second of previous devices, the company s
IndustryFeb. 21, 2011
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Fears of run on savings banks looming
FSC suspends 4 more second-tier banks 2 days after promising no new suspensions in H1Financial regulators’ ongoing crackdown on savings banks is increasing the chances of a bank run under which a great number of customers withdraw their deposits.The Financial Services Commission suspended operations of four more saving banks over the weekend, raising the possibility of a massive exit by depositors
Feb. 21, 2011
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Androids to run in world's 1st robot marathon
In this photo released by Japanese robot maker Vstone Co., robots wait for the start to demonstration a race during a press conference Wednesday, Feb. 16, 2011. (AP Photo/Vstone Co.)TOKYO (AP) – A technology company is organizing the world's first marathon for robots in Japan, a country known for its love of gizmos.So far, five robots have entered the event, expected to last four days next week. O
IndustryFeb. 21, 2011
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Radioactive leak alert issued at Daejeon
A warning of a radioactive leak was issued at a state-run nuclear power research institute in the central city of Daejeon on Sunday, but no radiation leaked outside, institute officials said.The Korea Atomic Energy Research Institute, located 164 kilometers south of Seoul, said it sounded the warning at 2:32 p.m. as the radiation level of its research reactor, the 30 megawatt HANARO unit, surpasse
Feb. 20, 2011
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SK to spin off life science unit
SK Holdings Co., the holding firm for Korea’s third-largest conglomerate, SK Group, said Friday it plans to spin off its life science business unit in April in a bid to nurture new growth engines.The new entity, tentatively named SK Biopharm, will be launched on April 1 with a paid-in capital of 20 billion won ($18 million), SK said in a regulatory filing.Since launching a drug development busines
IndustryFeb. 20, 2011
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Ford teams up with Sollers in Russia
DETROIT (AP) ― Ford Motor Co. is teaming up with Russian automaker Sollers to make and distribute cars in Russia, one of the fastest growing auto markets.Under a deal announced Friday, Sollers will build Fords at Russian plants, helping boost a struggling local industry. Ford will have access to a huge market that could bolster its revenues.Financial details weren’t disclosed, but the automakers s
IndustryFeb. 20, 2011
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Rolls-Royce develops all-electric phantom
Bayerische Motoren Werke AG’s Rolls- Royce Motor Cars unit said it’s developing a single vehicle from its Phantom model series that’s fully powered by electricity.The car will debut at the Geneva Motor Show on March 1 and will tour this year as the company collects data that “will be crucial in informing future decisions on alternative drive- trains for Rolls-Royce Motor cars,” BMW said in an e-ma
Latest NewsFeb. 20, 2011
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U.S. House passes budget bill
U.S. lawmakers vote to cut $61 billion in government spendingWASHINGTON (AFP) ― Historic spending cuts approved Saturday by the U.S. House of Representatives face a grim future in the Senate, raising the prospects of a government shutdown and ramping up the public relations blame game.After a marathon floor debate running well past midnight, the Republican-controlled House voted to cut about $61 b
Feb. 20, 2011