Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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[Weekender] How DDP emerged as an icon of Seoul
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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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[KH Explains] No more 'Michael' at Kakao Games
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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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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Shares fall on institutional selloff
South Korean stocks retreated 0.95 percent on Friday, led by institutional selling in tech issues amid the stalled U.S. fiscal budget negotiations, analysts said. The local currency edged up against the U.S. dollar. The benchmark Korea Composite Stock Price Index slipped 19.08 points to finish at 1,980.42. Trading volume was moderate at 545.5 million shares worth 5.27 trillion won ($4.90 billion) with losers outstripping gainers 445 to 359. “Institutions unloaded quite a bit of their holdings in
Dec. 21, 2012
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STX Group sells stake in European unit
STX Group, a South Korean shipping and shipbuilding conglomerate, said Friday that it has signed a deal to sell its stake in its European shipbuilding unit to an Italian firm as part of efforts to ease the group’s credit crunchUnder the deal with Fincantieri Oil & Gas SpA, STX Europe AS, the group’s local unit, sold its 50.75 percent stake, or 599.85 million shares, in STX OSV Holdings Ltd. at 1.22 Singapore dollars per share, said the company. STX OSV started trading its shares on the Singapore
IndustryDec. 21, 2012
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Park’s aides focus on growth, fair economy
Following is the second in a series of articles on President-elect Park Geun-hye’s key advisers and close associates. ― Ed. The academic backgrounds of the two key economic policy brains to President-elect Park Geun-hye indicate that the new government will put a priority on growth while promoting “economic democratization” for a fairer economy.Park’s economic pledges have allegedly been engineered by two economists, both of whom were economics professors at Sogang University, where the presiden
Dec. 21, 2012
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Financial watchdog issues English guidebook
The Financial Supervisory Service on Friday said it has issued an English language guidebook on investing in the Korean stock markets.The book is meant to provide assistance to foreign investors who are seeking to or are currently investing in local stocks, the financial watchdog said. Guidelines and regulations, such as how to register to make an investment, the ceiling on equity ownership, along with other “frequently-asked-questions” that the financial companies said they faced from the forei
Dec. 21, 2012
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S-Oil Corp. congratulates ‘hero neighbors’
S-Oil Corp. held the “2012 Hero Neighbors Award” ceremony in Seoul on Friday to congratulate 19 winners.The oil refinery company has annually selected “hero neighbors” who it judged made noble sacrifices and showed great courage to help their fellow citizens in danger.The company selected the 19 winners at the recommendation of the National Police Agency and the Ministry of Health and Welfare and by deliberation of a panel of experts.The winners, who won a trophy and 20 million won each, include
Dec. 21, 2012
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Banks need to take part in reviving economy: BOK chief
South Korean banks should take the initiative in boosting the slumping local economy as political uncertainties have been lifted with the presidential election now wrapped up, the central bank chief said Friday. "Lenders need to step up efforts to bring the economy back on track," Bank of Korea (BOK) Gov. Kim Choong-soo told a meeting with heads of major banks. "Four major world powers tied to the Korean Peninsula, including Japan and China, are at a new phase in their leadership." His rema
Dec. 21, 2012
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Apple ‘pinch-to-zoom’ patent deemed invalid
SAN FRANCISCO (AFP) ― A filing Wednesday in a high-stakes legal battle between Samsung and Apple revealed that a “pinch-to-zoom” patent central to the case has been deemed invalid.The patent was a centerpiece of a trial that ended in August with a jury ordering Samsung to pay Apple $1.05 billion in damages for illegally copying iPhone and iPad features for its flagship Galaxy S smartphones.Samsung provided U.S. District Judge Lucy Koh a copy of a U.S. Patent and Trademark Office preliminary dete
TechnologyDec. 20, 2012
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Corporate sector welcomes Park’s win
Organizations representing local industries mostly welcomed Saenuri Party Park Geun-hye’s election to president, but made big demands the incoming government to help promote fair competition in the corporate sector. “The leadership of the next president will play a critical role for our country to navigate the very tough times we face today in the form of an overall anemic economy defined by contracting exports, sluggish consumption and growing household debt,” the Federation of Korean Industrie
Dec. 20, 2012
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Don’t smoke if you’re on oral contraceptives
Oral contraceptives have proven to be among the most effective ways to prevent unwanted pregnancy. Yet, they must be taken accurately and safely to prevent any unwanted side-effects, doctors advise. “Birth control pills come in many different brands, which have different side effects. It is important that one chooses the right one that fits their physical traits,” says the Korea Food & Drug Administration.Basically, oral contraceptive pills can be divided into two different types ― birth control
TechnologyDec. 20, 2012
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Diarrhea in children
Children have diarrhea in order to protect the body and this is a natural systemic reaction. It is the reaction of the intestine to rid itself of the substances or microorganisms that enter and infect it. However, when diarrhea is severe, electrolytes and water, which are the main composites of the body, can escape as well and cause dehydration. Therefore, it is important to ensure that children are not dehydrated when they have diarrhea. Infants need to continue having breast milk even if they
TechnologyDec. 20, 2012
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Samsung Engineering wins $1.5b Saudi Arabia order
Samsung Engineering Co., South Korea’s largest industrial plant builder, said Thursday that it has secured a $1.5 billion order to build a power plant in Saudi Arabia.Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the South Korean company will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah by December 2016.The power plant will supply electricity to the Yanbu Industrial complex, Samsung said.“This order represents Sa
IndustryDec. 20, 2012
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U.S. imposes heavy duties on Korean washers
WASHINGTON (Yonhap News) ― The U.S. Commerce Department announced Wednesday that it has reached a final decision to slap heavy anti-dumping duties on South Korean-made washing machines.In a ruling described by the American firm Whirlpool Corp., the department determined that LG, Samsung and Daewoo have sold large washers in the U.S. at “dumping margins of 9.29 percent to 82.41 percent.”The anti-dumping duties for the two leading South Korean makers of electronics products ― LG and Samsung ― were
IndustryDec. 20, 2012
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GM Korea recalls 7,000 cars over defective shaft
GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., is recalling more than 7,000 cars sold here for a defective shaft in the transmission that may break, causing the loss of power, the government said Thursday.The recall affects 4,649 Lacetti compact vehicles and 2,606 Chevrolet Captiva family SUVs that were produced between July 24, 2008 and May 29, 2012, according to the Ministry of Land, Transport and Maritime Affairs.Renault Samsung Motors Co., the local unit of France’
Dec. 20, 2012
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Shares edge up on U.S. budget cut talks
South Korean stocks closed slightly higher Thursday as investors stayed on the sidelines following another bump on the U.S. fiscal spending talks overnight, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 6.41 points to finish at 1,999.50. Trading volume was moderate at 416.2 million shares worth 5.43 trillion won ($5.05 billion) with decliners outpacing gainers 408 to 395. “All that investors are waiting for now is for the U.S
Dec. 20, 2012
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Financial sector wary of Park’s economic democratization drive
The financial sector is on high alert to keep tabs on where the incoming government’s “economic democratization” policies are headed.Saenuri Party’s Park Geun-hye had laid out a much more moderate approach to economic democratization compared to her rival Moon Jae-in of the Democratic United Party, but scrutiny on the financial sector is likely to grow under her rule compared to the incumbent government.First of all, if Park strongly pushes for various measures to resolve the household debt prob
Dec. 20, 2012
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Park’s victory good for Korean markets: investors
HONG KONG (Yonhap News) ― The victory of a conservative contender in South Korea’s presidential election is seen to be rather positive for Asia’s fourth-largest economy and its markets, with no drastic change in the country’s policies expected, market watchers said Thursday.Park Geun-hye, a candidate from the conservative ruling Saenuri Party, won a tight but decisive election victory earlier in the day, becoming South Korea’s first female president-elect. Park, the daughter of the late Presiden
Dec. 20, 2012
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LG to take part in U.S. project for smart grid
LG Electronics said Thursday it agreed to take part in a smart grid project with U.S.-based Pecan Street Inc. in Austin, Texas.The firm will participate in the project as a member of the industry advisory council and will provide expertise in the research of smart homes, energy management and consumer electronics until 2015.LG’s primary focus will be on the development of effective home energy management systems, according to its officials.The company will install its advanced air conditioners,
IndustryDec. 20, 2012
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Public projects may face review under Park
Park Geun-hye’s election to president is expected to see changes in key projects that have been pushed under the Lee Myung-bak administration. During her campaign, Park tried to distance herself as far as possible from the unpopular incumbent president. Industry watchers predict major revisions to controversial projects, while some policies could be maintained in line with the ruling Saenuri Party’s political direction. The Four River Restoration project, arguably President Lee’s most controvers
IndustryDec. 20, 2012
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KT, NISA to aid building data center in Brunei
Mobile carrier KT said Thursday that it has signed an agreement with the National Information Society Agency to join a development consulting project to build a state-run National Data Center in Brunei.Through the project, Brunei will be able to establish an information center to hold and process industrial data. The total consulting expenses for building the NDC in the Southeast Asian state amount to about 2.8 billion won ($2.6 million), the mobile carrier said. KT added that the consulting pro
TechnologyDec. 20, 2012
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Card service fees on 2 million retailers cut
The burden of small and mid-sized retailers will be eased as the Financial Supervisory Service has instructed credit card companies to slash their transaction service fees.Over the past few years, some 1 million retailers continued to demand credit card issuers to cut the service charge for consumers’ payments for goods with their credit cards.After talks between the regulator FSS and the credit card industry, about 2 million retailers will see service fees lowered to a level deemed more reasona
Dec. 20, 2012