Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Korean Air becomes No. 2 shareholder of Czech Airlines
Korean Air said Thursday that it signed a takeover deal for a 44 percent stake in Czech Airlines, becoming the first Korean air carrier to secure shares in a foreign counterpart.The Korean flag carrier now has become the second-largest shareholder of the European airliner, next to Czech Aeroholding, the state-controlled parent company of the airline which owns 51.7 percent of shares. “We expect a synergy effect with the new alliance between the two airlines, which have extensive experience and f
IndustryApril 11, 2013
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LG Uplus offers free calls to LTE subscribers
LG Uplus said on Thursday that it will introduce a new monthly mobile plan that offers unlimited voice calls for its LTE smartphone subscribers.Lee Sang-chul, vice chairman of the telecommunications company, said that its subscribers will be able to freely call mobile phones with their smartphones running on the fourth-generation LTE networks for as much as 69,000 won ($61) per month.While introducing eight new monthly mobile plans that offer free voice calling options, the plans range from 34,0
IndustryApril 11, 2013
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25% of big firm chiefs to be excluded from pay disclosure rule
One in every 4 chief executives at South Korea’s top listed conglomerates will likely be exempt from disclosing his or her salary, despite the government’s latest move to revamp rules to shore up corporate transparency, data showed Thursday.The number of registered chief executive officers at the top 50 family-owned large enterprises known as chaebol, stood at 38, according to the data compiled by the Financial Supervisory Service. The remaining 12 were either not registered C-suite members or r
April 11, 2013
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SK Hynix makes overseas efforts for social contribution activities
SK Hynix is going overseas with its social contribution activities, launching global campaigns with a matching grant as well as employees’ donations.The world’s No. 2 memory chipmaker said that it has been gearing up efforts to increase its social contribution abroad in a bid to create a favorable workplace that emphasizes social welfare projects as well as employees’ happiness.The company has been launched a number of projects that include the word “happiness” in its operations since it was acq
BusinessApril 11, 2013
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Merck CEO named adviser on Gyeonggi investment
Juergen Koenig, CEO of Merck Korea, was appointed as adviser for promoting investment in Gyeonggi Province on Wednesday. The advisory panel, to serve until April 11, 2015, consists of 25 people such as executives in global high-tech companies, and experts in emerging capital markets and the service industry. “Attracting businesses to Gyeonggi Province is a key to creating more jobs; it is challenging, but at the same time very rewarding and contributes a lot to society,” said Gyeonggi Gov. Kim M
BusinessApril 11, 2013
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Shinsegae bullish on suburban outlets
PAJU, Gyeonggi Province ― Shinsegae Simon plans to increase the number of its suburban outlets to eight by 2020 including the existing two in Paju and Yeoju, and the one scheduled to open near Busan in September.“We plan to open our fourth premium outlet in Daejeon and the fifth one in the southwestern outskirts of Seoul,” Shinsegae Simon chief executive Kang Myung-koo said in a press conference Thursday.“We will review various locations around the other metropolises (Gwangju, Daegu, Ulsan and I
IndustryApril 11, 2013
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NASA unveils plan to capture asteroid
NASA unveiled its new plan on Wednesday to capture an asteroid for astronauts to explore.In 2019, a robotic spaceship will capture a 500-ton, 25-foot asteroid by unfolding a small section of the bag. The rock will be towed to a stable orbit near the moon through a thrust system generated by solar electric power.“This mission represents an unprecedented technological feat that will lead to new scientific discoveries and technological capabilities and help protect our home planet,” NASA chief Cha
TechnologyApril 11, 2013
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Iranian scientist claims to have made ‘time machine’
A 27-year-old Iranian scientist claimed to have invented a “time machine” device that can predict the future, local media reported Thursday.Ali Razeghi, a managing director of Iran’s Center for Strategic Inventions, said the device runs by a complex set of algorithms to “predict details of the next five to eight years of the life of its users.” He claimed that the machine’s accuracy is 98 percent.He said the Iranian government will be able to predict future events such as military conflicts and
TechnologyApril 11, 2013
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Seoul shares gain 0.73 pct on stimulus hope
South Korean stocks closed 0.73 percent higher Thursday, buoyed by the United States Federal Reserve's decision to maintain stimulus measures, analysts said.The local currency gained against the greenback. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 14.22 points to finish at 1,949.80. Trading volume was moderate at 380.3 million shares worth 4.71 trillion won (US$4.17 billion) with advancers far outpacing decliners 552 to 244."The Federal Reserve's decision to maintain its s
April 11, 2013
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Seoul shares down 0.2 pct in late-morning trade
South Korean stocks traded 0.2 percent lower late Thursday morning, led by losses in autos and builders, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 3.78 points to 1,931.80 as of 11:20 a.m. Carmakers traded lower, with No. 1 player Hyundai Motor falling 2.99 percent and its smaller affiliate Kia Motors losing 0.38 percent. Top auto parts maker Hyundai Mobis shed 3.04 percent. Construction firms also lost ground, with Hyundai Engineering & Construction decre
April 11, 2013
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BOK cuts 2013 growth outlook to 2.6 pct
South Korea's central bank on Thursday revised down its economic growth forecast for this year to 2.6 percent from its earlier estimate of 2.8 percent amid the global slowdown.The Bank of Korea (BOK)'s revised numbers are higher than the government's recent growth estimate of 2.3 percent for this year.The government of President Park Geun-hye sharply cut its 2013 growth projection from an earlier 3 percent in March, vowing to implement strong stimulus measures including creation of an extra budg
April 11, 2013
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BOK unexpectedly freezes key rate for 6th month in April
South Korea's central bank froze the key interest rate for the sixth straight month on Thursday in an apparent bid to preserve policy room for rainy days, rejecting the government's call to join the stimulus drive.Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers left the benchmark seven-day repo rate unchanged at 2.75 percent. The bank lowered the borrowing costs in July and October last year.The decision was not anticipated as only two out of 25 analysts predicted the rate fr
April 11, 2013
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Seoul shares open higher on U.S. gains
South Korean stocks opened higher on Thursday, following an overnight Wall Street rally fueled by growing anticipation of an economic recovery, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 3.52 points, or 0.18 percent, to 1,939.10 in the first 15 minutes of trading.Shares gathered ground across the board, with market behemoth Samsung Electronics adding 0.2 percent and top chipmaker SK hynix rising 2.33 percent. No. 2 carmaker Kia Motors advanced 1.15 percent.U.S
April 11, 2013
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Research firm: PC sales plunge as Windows 8 flops
Two somber new reports show unprecedented declines in desktop and laptop sales during the first three months of the year _ signs that the personal computer market may never fully recover from a new generation of mobile devices.And it appears that a makeover of Microsoft's Windows operating system seems to have done more harm than good since the software was released in October.“This is horrific news for PCs,” said BGC Financial analyst Colin Gillis. “It's all about mobile computing now.”First-qu
TechnologyApril 11, 2013
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KBS website goes offline for unknown reason
The Website of South Korea's public broadcaster KBS suffered a series of malfunctions on Wednesday for an unidentified reason, officials said.The broadcaster's Website went off line from 8:00 p.m. to 8:18 p.m. for a third time on Wednesday, following two malfunctions reported earlier in the evening, according to company officials.The broadcaster said it is currently trying to find out the cause of the failures, adding that it is unlikely that hackers were behind it. KBS added that there have bee
IndustryApril 10, 2013
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Goodbye, MSN Messenger!
It is never easy to say goodbye.It is especially hard when it has been 14 years since people starting using Microsoft’s instant messaging service named Windows Live Messenger, better known as MSN Messenger.The U.S.-based software giant officially announced that it would be cutting the messenger service beginning April 8, merging it with Skype.Those still using the messenger see a message at the bottom of the program window that reads, “Move between instant messaging, voice and video. Upgrade to
TechnologyApril 10, 2013
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Viagra loses top spot in Korean market
Viagra gave up its top position in Korea to its competitor Cialis for the first time.According to industry data, sales of Cialis totaled 26.9 billion won ($23.6 million) last year, topping Viagra’s 25.6 billion won.This is the first time that Viagra did not take the No. 1 spot in the local pharmaceutical industry since its release here in October 1999.“With the massive release of generic products of Viagra, the product positioning has seen changes,” an official of a firm selling erectile dysfunc
IndustryApril 10, 2013
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[Graphic News] Koreans own 8.8 luxury items on average
Purchasing luxury goods was nothing unusual for more than 45 percent of Korean customers, a survey showed on Wednesday.According to the poll conducted by the Korea Consumer Agency, spending on premium designer brands ― such as Hermes, Cartier and Bvlgari ― accounted for 5 percent of household income on average, compared to 4 percent in Japan.Amid the recent surge in consumption of French and Italian premium brands, Korean adults have an average of 8.81 luxury items in their closet, said the poll
IndustryApril 10, 2013
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Online transactions of NongHyup Bank paralyzed
NongHyup Bank, the banking unit of South Korean financial holding company NongHyup Financial Group Inc., said Wednesday its online and smartphone banking system was paralyzed for an unknown reason.The bank said that an error occurred at 6:20 p.m. at its operating system located in Anseong, 77 kilometers from Seoul. The online transaction system remained malfunctioning as of 7:35 p.m."No hacking activities were identified behind the failure," an official from the bank said. "We are currently maki
April 10, 2013
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Samsung, LG clash over police raid
Samsung Display on Wednesday denied that it had been investigated for technology espionage against its rival LG Display following reports that the police had raided its offices the day before.“Samsung is the only company in the world possessing OLED (organic light-emitting diode) technology. Our concern is that our technology may be leaked, not vice versa,” Samsung Display chief executive Kim Ki-nam told reporters after a weekly Samsung executive meeting.On Tuesday, the cyber crime unit of Seoul
TechnologyApril 10, 2013