Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Korea develops most advanced wireless tech
Korean researchers Tuesday unveiled the most advanced wireless network technology, boosting potential for the country to lead the future telecommunications market.The state-run Electronics and Telecommunications Research Institute in Daejeon demonstrated the Long Term Evolution-Advanced technology which is 40 times faster than the current third-generation wireless network.“It is meaningful that we
TechnologyJan. 25, 2011
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Toyota remains world’s largest automaker
Japanese company sells 8.4m cars in 2010 despite recallsTOKYO (AFP) ― Toyota said Monday its group sales in 2010 rose, enabling the firm to narrowly retain its title as the world’s biggest automaker despite a global safety crisis that damaged its brand image.But analysts warn that after a year that saw the recall of millions of vehicles, a wave of lawsuits and record fines, the company is likely to soon surrender that lead as it battles to regain consumer trust overseas.In 2008 Toyota ended Gene
IndustryJan. 25, 2011
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World jobless rate stays at record high: ILO
GENEVA (AFP) ― The International Labor Organization warned that the global economic recovery was not translating into jobs as world unemployment remained at a record 205 million for 2010.“Despite a sharp rebound in economic growth for many countries, official global unemployment stood at 205 million in 2010, essentially unchanged from 2009, and 27.6 million more than on the eve of the global econo
IndustryJan. 25, 2011
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Korea Line files for receivership after rates plunge
Korea Line Corp., Korea’s second-largest operator of dry-bulk ships, filed for receivership after rates tumbled to the lowest in almost two years because of a global oversupply of vessels. The filing was made at the Seoul Central District Court on Tuesday, the company said in a regulatory statement. It didn’t say how large its debts were. Seven calls to the Seoul-based company, including to its me
IndustryJan. 25, 2011
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Olympus launches new hybrid camera
Olympus Korea launched a new hybrid camera PEN E-PL2 on Tuesday, calling it the new “killer item” for this year.The product, coming between a DSLR and a compact camera, features a classic design and an upgraded art filter that enables people to add touches of soft focus, dramatic tone and art frames to the photos, according to company officials. Models present Olympus’ new hybrid camera PEN E-PL2
IndustryJan. 25, 2011
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KEPCO opens electric vehicle charging stations on highway
Korea Electric Power Corp. said Tuesday that it has established electric vehicle charging stations on a highway, a first time for the nation. The six new charging stations are located at rest areas on Jungbu Expressway near Icheon, Eumseong and Ochang ― both northbound and southbound, the firm said. Another was launched at the KEPCO Research Institute in Daejeon. A total of 12 charging machines a
IndustryJan. 25, 2011
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LG CNS to join with Japan’s SBI Group
LG CNS will become the first South Korean firm to forge a cross-border partnership with a Japanese financial company to provide IT services, the Seoul-based company said Tuesday.With Japan’s SBI Group, LG CNS said it would be forming a joint entity called SBI-LG Systems that would handle all of the IT services related to SBI, a top Japanese financial company with assets worth 13 trillion won ($11.
IndustryJan. 25, 2011
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SK Telecom profit rises 48%, led by smartphone demand
SK Telecom Co., Korea’s largest mobile-phone operator, has reported fourth-quarter profits which climbed 48 percent, helped by demand from smartphone users.Net income rose to 361.4 billion won ($323 million) from 244.2 billion won a year earlier, the Seoul-based company said in a statement Tuesday. That compares with the 405.4 billion won average of 13 analyst estimates compiled by Bloomberg in th
TechnologyJan. 25, 2011
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FSS tougher on banks’ overseas branches
The Financial Supervisory Service plans to tighten oversight of local banks’ overseas operations, diverting from its earlier position of eased regulations to encourage their making inroads into foreign markets.The watchdog unveiled this year’s key regulatory policies during its meeting with financial market leaders at the Bankers’ Club in downtown Seoul on Tuesday.Major banks, including the nation
Jan. 25, 2011
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India’s central bank might raise rates
India’s central bank said reducing inflation is the “dominant” goal at the moment, signaling the possibility of an interest-rate increase on Tuesday. “The anti-inflationary focus of monetary policy would have to continue,” the Reserve Bank of India said in a report on Monday. “Since a lower inflation regime is essential for sustainable high growth, containing inflation becomes the dominant policy
IndustryJan. 25, 2011
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Bank of Japan raises growth forecast
Central bank keeps key rate between zero and 0.1%The Bank of Japan raised its growth forecasts for the year through March as strong overseas demand supports the economy. Policy makers predicted an expansion of 3.3 percent for the 2010 fiscal year, compared with the 2.1 percent estimated in October, the central bank said in a statement Tuesday in Tokyo. The BOJ also held the key interest rate betwe
IndustryJan. 25, 2011
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30 groups unveil record-high investment plan
Lee, CEOs agree to cooperate for 5 percent growthThe nation’s 30 largest business groups unveiled plans to invest more than 110 trillion won ($98.2 billion) and create 100,000 new jobs this year during their meeting with President Lee Myung-bak on Monday.Leaders of Samsung, Hyundai Motor and other groups said they would increase their investment to 113.2 trillion won for 2011, which will mark an a
IndustryJan. 24, 2011
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Hiscot offers liquor gift sets for Lunar New Year
Hiscot Co., a subsidiary of Korea’s largest liquor maker Hite-Jinro Group, offers a range of gift sets for the Feb. 3 Lunar New Year’s day, the firm said Monday.“This year’s New Year gift sets were prepared for consumers who look for practical gifts. A variety of quality gift sets will be offered at affordable prices for consumers to choose from,” Hiscot executive director Jang Byeong-seon said. T
IndustryJan. 24, 2011
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KT&G renews Esse Golden Leaf design
KT&G Corp., Korea’s largest tobacco manufacturer, will roll out a repackaged version of its Esse Golden Leaf product at the end of January, the firm said Monday. The cigarette packaging was created in collaboration with Najeonchilgi master Park Jae-seong, the firm said. Najeonchilgi is a traditional mother of pearl craft where colorful pieces of shellfish are inlaid on an object and then applied w
IndustryJan. 24, 2011
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Childbirths grow for 9th month in Nov.
Childbirths in Korea grew for the ninth consecutive month in November as the economic recovery encouraged couples to have more babies, a report showed Monday.According to the report by Statistics Korea, the number of babies born in November was about 41,200, up 17 percent or 6,000 from the same month a year earlier. The latest figure marked the ninth consecutive on-year growth since last March. It
Jan. 24, 2011
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KB Asset wins nod for investment in China
HONG KONG (Yonhap News) ― Korea’s KB Asset Management Co. said Monday it has obtained approval from Chinese authorities to invest up to $100 million in local securities, gaining greater access to one of the world’s most rapidly growing stock markets.The approval, granted by China’s State Administration of Foreign Exchange (SAFE) last week, will allow KB Asset Management to launch a collective inve
IndustryJan. 24, 2011
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Korea confirms additional FMD case
Korea reported an additional case of foot-and-mouth disease (FMD) in the central part of the country Monday, in the midst of nationwide vaccination and quarantine efforts.The farm ministry said some cattle at a farm in Mungyeong, North Gyeongsang Province, about 220 kilometers southeast of Seoul, tested positive for the highly contagious animal disease after animals started showing symptoms over t
Jan. 24, 2011
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Seoul shares up on institutional buying
Korean stocks closed 0.59 percent higher on Monday as institutional investors hunted for bargains, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 12.24 points to 2,082.16. Trading volume was moderate at 335.1 million shares worth 6.01 trillion won ($5.37 billion), but losers outnumbered gainers 412 to 396.“Institutional
Jan. 24, 2011
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Only half of Korean firms succeed in China: poll
HONG KONG (Yonhap News) ― Only about half of Korean companies operating in China have turned out to be successful, despite their rush into the world’s second-largest economy, a poll showed Sunday.According to the survey on 212 Korean firms, taken by the Korea International Trade Association’s (KITA) Shanghai office, 55.7 percent of the firms assessed their business in China as “successful.” Among
Jan. 24, 2011
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Banks’ fund raising jumps due to deposit growth
Korean banks raised more funds last year than 2009 as risk-averse investors piled into lenders’ savings deposits, the financial regulator said Monday.Eighteen local banks’ fund raising through deposits and debt issuance expanded by a net 35.5 trillion won ($31.7 billion) last year, bringing their outstanding funds to 1,161.4 trillion won as of the end of December, the Financial Supervisory Service
Jan. 24, 2011