Most Popular
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Yoon Suk Yeol's impeachment vote looms large
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In Yoon's martial law speech, a window into his troubling worldview
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Ruling party leader stands firm on suspending Yoon from his position
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How Yoon’s fate could unfold under 4 scenarios
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Yoon needs to be stopped from exercising power as president: ruling party head
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South Korean military says will not obey another martial law
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[Latest Updates] Martial law fallout
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Protests sweep South Korea as calls for Yoon Suk Yeol's resignation intensify
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Rights group claims proof of 2nd martial law declaration
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Why did martial law troops go to National Election Commission?
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Lack of sperm coating plays role in infertility
WASHINGTON (AP) _ Scientists have found a new contributor to male infertility, a protein that is supposed to coat sperm to help them swim to an egg, unless that coating goes missing.About 20 percent of men may harbor gene mutations that leave their sperm coat-free and thus lower their fertility, an international research team reported Wednesday.Today's reproductive tests cannot spot the problem, s
TechnologyJuly 21, 2011
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Tax agency investigates power bloggers
The National Tax Service said on Thursday it has requested the country’s major Internet portals such as Naver and Daum to provide personal information about some 1,300 influential bloggers.The tax agency’s move comes as a growing number of local bloggers with a large pool of readers get enmeshed in money-for-article scandals. Recently, a high-profile blogger who belongs to the country’s largest po
TechnologyJuly 21, 2011
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Seoul to end antidumping tariffs on Chinese pigments
South Korea may end its six-year antidumping measures against Chinese pigments as their prices have risen enough to pose little threat to local competitors, Seoul's trade commission said Thursday.The decision to end the antidumping tariffs on Chinese anatase titanium dioxide used in paint and plastic goods was reached at a meeting of the Korea Trade Commission (KTC) on Wednesday.South Korea began
July 21, 2011
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S. Korea in dilemma over U.S. stalemate in FTA ratification
With skepticism spreading about the possibility of the U.S. government securing ratification of a free trade pact with South Korea this summer, South Korean officials expressed concern Wednesday over major diplomatic and political fallout at home.The Lee Myung-bak administration has eagerly awaited the passage of the free trade agreement (FTA) bill before the U.S. Congress goes into recess on Aug.
July 21, 2011
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Busan Savings Bank draws fresh suspicion for shady land deals
A ruling party lawmaker on Wednesday disclosed fresh allegations of embezzlement involving Busan Savings Bank, insisting that the corruption-ridden lender bought real estate along the southwest coast for inflated prices that were up to 10 times more expensive than the market value.Rep. Ko Sung-doug of the Grand National Party (GNP) said the Busan-based institution, which was suspended in February
July 20, 2011
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SC First Bank sues labor union leader
SC First Bank sues labor union leaderSC First Bank filed a complaint against its labor union leader on Wednesday with the police on charges of defamation, according to bank sources.The bank claimed that labor union leader Kim Jae-yool damaged the bank’s image by distributing leaflets making accusations about management to the public, the sources said.In its statement, the union criticized the bank
July 20, 2011
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South Korea unveils new light airplane
The first locally developed civilian aircraft completed its maiden flight at Korea Aerospace Industries in Sacheon, South Gyeongsang Province on Wednesday.Once the project is completed, and necessary certifications are granted for the vehicle, Korea will become the world’s 28th country to have developed civilian aircraft using indigenous technologies. The first locally developed civilian aircraft
IndustryJuly 20, 2011
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Samsung betting big on Galaxy Tab 10.1
Samsung Electronics appeared to be full of confidence as it launched its second-generation tablet PC, the Galaxy Tab 10.1 in Korea on Wednesday at the company’s headquarters in southern Seoul. Shin Jong-kyun, chief of the global electronics company’s mobile business unit, pledged to sell more than five times more tablets than last year, despite the first Galaxy Tab not having sold as well as Samsu
IndustryJuly 20, 2011
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SKT board members OK platform spin-off
SK Telecom said Wednesday its board members agreed to spin off its platform unit, most likely headed by platform business president Seo Jin-woo, during a board meeting earlier on Tuesday. Seo Jin-wooCompany officials said the board members approved the spin off to boost the project expertise and strengthen the competitiveness of related projects through efficient distribution of the business reso
IndustryJuly 20, 2011
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SK Communications releases new mobile messenger service
SK Communications said Wednesday it launched a new mobile messenger service called “NateOn talk” for Android-powered smartphones, claiming it aims to garner up to 10 million users by the year end.SK Communications, operator of the country’s popular social networking site Cyworld, said the new mobile messenger will feature short messaging and mobile voice over Internet protocol services, along with
IndustryJuly 20, 2011
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Miele to strengthen dominance in upscale household appliances
Miele International, a German manufacturer of high-end home appliances, said Wednesday that it will keep its premium pricing strategy despite expectations that the company could lower product prices here following the Korea-EU free trade agreement. Markus Miele (Miele Korea)“We also do not consider any dramatic price increase for now, even though raw material costs have soared recently,” Markus M
IndustryJuly 20, 2011
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Bahk promotes wet markets to spur domestic demand
Finance Minister Bahk Jae-wan on Wednesday visited a wet market with representatives of business groups, making a timely move to coordinate with the private sector to revive sagging domestic demand. The visit to Sooyu Traditional Market in northern Seoul, along with ruling Grand National Party leader Hong Jun-pyo and Huh Chang-soo, chairman of the Federation of Korean Industries, is aimed at promo
July 20, 2011
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LG Chem logs high sales, Hana Financial profits up
LG Chem, the nation’s leading chemical company, on Wednesday logged record-high quarterly sales of 5.69 trillion won ($5.3 billion) for the second quarter of this year to record a 13.4-percent increase from last year.Operating profit and net profit, however, declined on the back of sluggish market conditions and soaring material costs, the company said. Operating profit stood at 775.4 billion won,
IndustryJuly 20, 2011
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Companies to sue Seoul over ...N.K. sanctions
About 10 South Korean companies are preparing to file a suit against the government over economic losses caused by Seoul’s sanctions on Pyongyang, a businessman said Wednesday.South Korea imposed sanctions on the North last year in retaliation to the communist country’s two deadly attacks on the South that killed 50 South Koreans.The punitive measures suspended all trade and exchange programs with
July 20, 2011
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False public disclosures up on KOSDAQ: KRX
False public disclosures surged on the tech-heavy KOSDAQ stock market this year, the Korea Exchange said on Wednesday. As unfair and misleading disclosures by the listed firms tend to increase volatility and distort stock prices, the KRX had toughened its crackdown on such irregularities last year, resulting in a decrease of incidences. But the practice seems to be returning. In the first half of
July 20, 2011
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FSC strives to boost savings banking
Financial regulators plan to allow savings banks which meet requirements for financial soundness to operate an installment financing business unit.The regulatory decision comes under the Financial Services Commission’s strong commitment to reviving the distressed savings banking industry.Savings banks are required to satisfy two requirements to open an installment financing unit: They should see t
July 20, 2011
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Young women overtake men in job market
Overall job market still dominated by men, especially for workers in their 40s and 50sKorea’s overall job market is still dominated by male workers. But when it comes to new jobs for Koreans in their 20s, the opposite is true.The employment rate among women in their 20s hit 59.2 percent in the April-June period this year, slightly above men’s 58.5 percent, Statistics Korea said Wednesday. The late
July 20, 2011
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Banks’ foreign exchange deposits rise in first half
Korean banks’ foreign currency deposits rose in the first half on solid exports and prospects that the local currency’s sharp ascent may ease soon, industry data showed Wednesday.Foreign currency-denominated deposits at five major banks amounted to $14.56 billion as of end-June, up $2.27 billion from the end of last year, according to industry data.The rise came even as the local currency apprecia
July 20, 2011
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GS Group chief stresses innovation
GS Group chairman Huh Chang-soo called on group executives to go beyond developing new products and services as the group aims to become an “ultra first-rate” corporation. Huh Chang-sooSpeaking at the executives meeting for the third quarter on Wednesday, Huh also said that corporations need to go beyond developing new products and services if they are to address current issues.“The aim of managem
IndustryJuly 20, 2011
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LG Innotek touted for mutual growth efforts
LG Innotek, the LG Group’s component-making affiliate, received the highest score in its cooperative business partnership with smaller businesses, the state-run antitrust regulator said Wednesday.The Fair Trade Commission conducted an evaluation of 21 major conglomerates that have signed a “shared-growth agreement” between March and June. A total of 93 major businesses here have agreed to the volu
IndustryJuly 20, 2011