Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Court upholds jail term for man who attempted to murder ex-girlfriend
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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POSCO gets approval for new plant
Stalled works on POSCO’s new plant at Pohang Steelworks are set to resume, with the Prime Minister’s Office deciding to ease regulations that had brought the works to a halt in July.The Pohang municipal government had approved plans for the plant without consulting military bases in the area about height restrictions on buildings in the area due to military flights.The steelmaker was informed of t
IndustryJan. 18, 2011
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Fine may force LG Display into loss in 4th quarter
LG Display may record a loss in its latest fourth-quarter earnings as it is likely to include a large fine imposed by the European Commission for fixing liquid crystal display prices in its report, industry insiders said Tuesday.The world’s second-largest maker of liquid crystal display panels must pay 215 million euros ($285 million) for being part of a cartel with five other firms between 2001 a
IndustryJan. 18, 2011
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Hana Financial in alliance with Chinese bank
China Merchant Bank expected to boost Korean group’s expansionHana Financial Group has established a strategic partnership with China Merchant Bank, the country’s sixth-largest lender, beefing up ammunition for its planned portfolio diversification and expansion of China operations. The Korean financial group said Tuesday that the agreement will involve cooperation on a range of joint financial se
Jan. 18, 2011
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Kookmin Bank pushes for aggressive downsizing
Kookmin Bank is accelerating its major manpower restructuring, transferring 219 underperforming employees to an extra department designed for retraining.A certain portion of them will likely face dismissal or be pressured to quit if they fail to reach a certain level of performance within about two years, an official of the nation’s largest bank said Tuesday.The employees at the department are obl
Jan. 18, 2011
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Gangwon shares affordable housing know-how with Vietnam
Gangwon Province is hosting a team of Vietnamese government officials on a week-long trip here to study Korea’s housing policies for low-income earners.The program, requested by Vietnam’s Ministry of Construction, is co-organized by the International Urban Training Center, a state-run training center for policymakers in Gangwon Province and the United Nations Human Settlements Programme in Vietnam
Jan. 18, 2011
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Ban calls for global clean energy revolution
U.N. secretary-general also addresses climate, poverty and healthABU DHABI ― Global innovation in clean energy is essential to fight climate change, United Nations Secretary-General Ban Ki-moon said Monday at the 2011 World Future Energy Summit. “The prevailing fossil fuel-economy is contributing to climate change and global energy needs are growing rapidly,” he said during his keynote speech at t
Jan. 18, 2011
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Roubini sees spread of EU debt crisis as key 2011 risk
Nouriel Roubini, the New York University economist who predicted the global financial crisis, said a key risk to the world economy in 2011 is the likely spread of Europe’s debt crisis. “One of the most important risks is financial contagion in Europe if the euro zone’s problems spread, as seems likely, to Portugal, Spain and Belgium,” Roubini wrote in an article in the Australian Financial Review
IndustryJan. 18, 2011
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Foreign investment in China rises to record
Foreign direct investment in China rose to a record $105.7 billion last year, underscoring confidence that rising incomes will boost demand in the world’s fastest-growing major economy. Investment climbed 17.4 percent from a year earlier, the Ministry of Commerce said in a statement in Beijing to Tuesday. Spending in December rose 15.6 percent from a year earlier to $14 billion. Estimates of five
IndustryJan. 18, 2011
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Singapore’s export growth slowed in Dec.
Singapore’s exports rose at a slower pace in December, ending a year in which shipments jumped the most since 2003 as the global economic recovery boosted demand for the island’s goods. Non-oil domestic exports climbed 9.4 percent from a year earlier, after a revised 9.9 percent gain in November, the trade promotion agency said in a statement in Singapore Monday. The median forecast of 14 economis
IndustryJan. 18, 2011
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Ssangyong to build mall in Singapore
Ssangyong Engineering & Construction has won a 35 billion won ($31 million) deal to build a premium shopping center in Singapore, the latest boost to its growing presence in one of Asia’s hottest construction markets.The builder signed the contract with City Development Ltd., the largest property developer of Singapore, on Thursday. Ssangyong will design and construct a two-story luxury mall with
IndustryJan. 18, 2011
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SBS to air “Is UFO coming to Earth?” on Saturday
SBS is set to air a special program on UFOs on Saturday, drawing keen attention from those interested in the question of aliens’ existence. The broadcaster’s weekly investigative program, “We Want to Know,” plans to explore the issue that has long generated speculation, rumors and conspiracy theories across the world. For the latest episode, the program’s investigations team has decided to scrutin
TechnologyJan. 18, 2011
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LG Display likely to swing into red in Q4 on EU fines
LG Display Co., the world's No. 2 supplier of liquid crystal display (LCD) panels, is likely to report a loss for the fourth quarter, industry sources said Tuesday, as a fine of 215 million euros (US$285 million) by the European Union (EU) takes a toll on its bottom line.According to the sources, the penalty will be reflected in the company's earnings for the October-December period, which are sla
TechnologyJan. 18, 2011
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Seoul to hike milk output quota to tackle FMD-sparked dearth
South Korea will temporarily allow local dairy farms to increase milk production to counter shortfalls caused by the culling of dairy cows due to the recent foot-and-mouth disease (FMD) outbreak, the farm ministry said Tuesday.The move calls for production quotas to be raised by 5 percent for the next two years to help boost supply and preempt price hikes that can exacerbate inflationary concerns
TechnologyJan. 18, 2011
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Additional FMD case found in central S. Korea
South Korea confirmed an additional case of foot-and-mouth disease (FMD) in the country's central region on Tuesday, though nationwide vaccinations and quarantine efforts are having some effect on containing the disease.The additional case at a pig farm in Yesan, 134 kilometers south of Seoul, brings the total number of confirmed FMD outbreaks to 121, since animals started showing symptoms in late
TechnologyJan. 18, 2011
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The largest color image of sky revealed
The most comprehensive view of the night sky has been released at the 217th annual meeting of the American Astronomical Society in Seattle, the BBC reported. The Sloan Digital Sky Survey has mapped the Milky Way Galaxy’s northern and southern hemispheres, represented as two big clusters in the newly-released image. The ongoing survey has already identified nearly half a billion astronomical object
TechnologyJan. 18, 2011
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New zodiac signs mean yours may have changed
The twelve zodiac signs, which have been in place for almost 3,000 years, are now different according to news reports. The Babylonians determined the dates of the zodiac, and since then the position of Earth in relation to the Sun has gradually altered, according to ABC News.The shifting of the Earth’s axis has also introduced a 13th zodiac sign -- Ophiuchus. The Huffington Post reported that astr
TechnologyJan. 18, 2011
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Apple CEO Steve Jobs takes medical leave
SEATTLE _ Apple Inc. CEO Steve Jobs, the charismatic frontman for the company that overturned the smart phone industry and invented a new category of tablet computers, is taking a second medical leave of absence in two years.In the last decade, Jobs, 55, has survived a rare but curable form of pancreatic cancer and undergone a liver transplant. The news that he will again step down from his day-to
IndustryJan. 18, 2011
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GS Caltex closes plant on power outage
GS Caltex Co., Korea‘s second-largest refiner, said Monday that it had shut down all of its crude distillation units and its No.1 residue fluid catalytic cracker in the southern part of the country due to power failure. Power at the Yeosu complex was cut off at 4:10 p.m. local time and resumed 23 minutes later, according to the official“The affected facilities could not restart within today, thoug
IndustryJan. 17, 2011
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Offshore tax evasion faces crackdown
NTS to focus on paper companies being used to evade tax, hide moneyThe National Tax Service on Monday vowed to toughen its crackdown on offshore tax evasion by wealthy persons and large businesses as one of its priorities this year.The tax authority said it will step up curbs on borrowed-name financial transactions often used by companies to manipulate their incomes. It will also enhance the inqui
Jan. 17, 2011
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‘Korea faced with deepening health care deficit’
Fast-aging Korea could see a deficit of 16 trillion won ($14 billion) in its medical insurance financing by 2020, a report warned Monday. Without “fundamental change” in the overall system, the deficit would continue to swell in the coming years, the Institute for National Health Insurance, an affiliate of the National Health Insurance Corporation, said in its mid- and long-term financial report.
TechnologyJan. 17, 2011