Most Popular
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Seoul vows action over Naver's Line, Yahoo dispute
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[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Samsung doubles down on Vietnam
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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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[Grace Kao] American racism against Stray Kids
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Suspect behind murder of Korean tourist in Pattaya arrested
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Prosecutors summon pastor involved in Dior bag scandal
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NewJeans' members' parents complained to Hybe, email shows
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[Graphic News] Over 80% of people filing bankruptcy in Seoul in their 50s and older
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Hyundai aims to expand market share in Brazil
Hyundai Motor is stepping up efforts to aggressively expand its presence in Brazil ― the only BRIC nation where, Korea’s largest carmaker admits, it has yet to be successful. With the recent completion of its first Latin American plant in the region, Hyundai now aims to sell 200,000 vehicles next year, becoming one of the top five carmakers in Brazil.“We have completed preparations for a new leap in Brazil. We will ramp up efforts to continue our success stories in India, China and Russia,” said
IndustryNov. 9, 2012
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Lotte Shopping sales to improve on Hi-mart takeover
Lotte Shopping Co., South Korea’s No. 1 retailer, is expected to fare better next year on improved sales in electronic goods following its acquisition of a local appliance retailer, analysts said Friday.The retail giant’s sales for 2013 are forecast to reach 30 trillion won ($27.4 billion), up 23 percent from this year’s estimate, according to a report released by Korea Investment & Securities Co.“Following the retailer’s acquisition of Hi-mart Co., Lotte Shopping can seek synergy among its dive
IndustryNov. 9, 2012
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Subscribe for shirts, buy brand-name goods online
Online shopping mall Shirts Magazine offers subscriptions for shirts, not magazines ― literally.For 100,000 won a year, you get a crisp new shirt delivered to your home every month. It’s like having your monthly-subscribed magazine in your mailbox. And you get to choose the color and design each month from a range of choices on the net. “I got the subscription for my husband,” says housewife Lee, who only wished to reveal her last name. Her husband is an urban professional in Seoul, who is requi
IndustryNov. 9, 2012
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S. Korea watchdog finds cracks in nuclear reactor
South Korea said Friday minor cracks were found at a nuclear reactor that have not caused a leak but still mean the facility will be kept offline, prompting fears of power shortages in the coming winter.The cracks were found during maintenance work on control rod tubes at a unit in the Yeonggwang nuclear complex, where two other reactors were recently shut down for several months to replace unvetted components.Half of Yeonggwang's six reactors will now be offline until January at the earliest, t
TechnologyNov. 9, 2012
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Crocodile jaws are super-sensitive to prey
Crocodile and alligator jaws are more sensitive than human fingertips and their sense of touch is among the most acute among animals, U.S. researchers say.Scientists, writing in the Journal of Experimental Biology, say the animals' jaws, covered with small, pigmented bumps that dot their skin, particularly around the face, are extremely sensitive to pressure and vibration, Discovery News reported.A previous study suggested the bumps -- known technically as "integumentary sensor organs" or ISOs -
TechnologyNov. 9, 2012
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Smart insole can help improve walking
A University of Utah engineering professor say her smart insole design using sensors and gyroscopes can help correct walking abnormalities.Stacy Bamberg of the university‘s department of mechanical engineering says her insole, which she calls the Rapid Rehab system, will eventually help correct walking problems for people with artificial legs, hip replacements and broken legs.The system uses a custom gel insole with force sensors, accelerometers and gyroscopes to detect a person’s gait, or walki
TechnologyNov. 9, 2012
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BOK freezes key rate at 2.75 percent
The country’s central bank left the key rate untouched on Friday, reflecting a hopeful outlook on the nation’s economy based on the brisk export growth in October. As widely expected, the Bank of Korea’s Monetary Policy Committee announced that it would keep the rate frozen at 2.75 percent for November to keep tabs on the impact of the quarter-point rate cut in the previous month. The economic downturn slowed in Korea as exports, consumption and investment improved, said BOK Governor Kim Choong-
Nov. 9, 2012
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S. Korea's producer price growth hits 3-month low in Oct.
South Korea's producer prices grew at their slowest on-year pace in three months in October due to eased growth of oil costs and the won's ascent, the central bank said Friday.The producer price index, a barometer of future consumer inflation, inched up 0.2 percent in October from a year earlier, slowing from a 1 percent on-year gain in September, according to the Bank of Korea (BOK). The October figure marked the slowest expansion since July, when producer prices fell 0.1 percent on-year.The in
Nov. 9, 2012
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Pelvic inflammatory disease
Pelvic inflammatory disease (PID) is caused by bacteria, or more uncommonly viruses, infecting the reproductive organs. It is a broad term that includes endometritis, salpingitis, perioophorosalpingitis, and abscess in the ovaries or pelvic peritonitis caused by abscess in the ovaries. Pelvic inflammatory disease is often caused by sexually transmitted infections such as gonorrhea and trachomatis. Other anaerobic bacteria such as vaginalis, which cause bacterial vaginosis, can also lead to pelvi
TechnologyNov. 8, 2012
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Shares sink 1.19% on profit taking
South Korean stocks fell 1.19 percent Thursday as investors opted to lock in part of recent gains following the outcome of the U.S. presidential poll, analysts said.The local currency lost ground against the U.S. dollar. The Korea Composite Stock Price Index retreated 23.14 points to finish at 1,914.41. Trading volume was heavy at 6.53 million shares worth 5.31 trillion won ($4.87 billion), with losers outnumbering gainers 532 to 268. “The ‘Romney shares’ such as energy and oil issues tumbled in
Nov. 8, 2012
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AmorePacific Q3 net rises 9.1 percent
AmorePacific Corp., South Korea’s leading cosmetics manufacturer, said Thursday its third-quarter earnings increased 9.1 percent from a year earlier on the back of increased sales.Net profit reached 69.6 billion won ($64 million) in the July-September period, compared with a profit of 63.8 billion won a year earlier, the company said in a regulatory filing. Sales rose 17.7 percent on-year to 733 billion won in the period and operating profit gained 18 percent to 90 billion won. In the first thre
Nov. 8, 2012
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Manufacturing sector growth falters in Q3
South Korea’s manufacturing sector growth lagged behind the service sector for the first time in 39 months in the third quarter amid the global economic slowdown, data showed Thursday. The country’s manufacturing industry grew 1.3 percent in the July-September period from a year earlier, compared with a 2.4 percent on-year advance logged by the service sector, according to data by the Bank of Korea. In the third quarter, Korea’s economy grew 1.6 percent from a year earlier and 0.2 percent from t
Nov. 8, 2012
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NHN net profit jumps 25 percent in Q3
NHN Corp., South Korea’s top Internet portal operator, said Thursday its third-quarter earnings soared 25 percent from a year earlier on robust advertising revenue.Net profit totaled 127 billion won ($117 million) in the July-September period, compared with a profit of 102 billion won a year earlier, the company said in a regulatory filing.Sales climbed 12.5 percent on-year to 596 billion won in the cited period, and operating profit rose 4.3 percent to 156 billion won.The surge in the third-qua
Nov. 8, 2012
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G-Star game exhibition opens in Busan
BUSAN ― G-Star, the nation’s largest international game exhibition, kicked off in Busan on Thursday, drawing in many spectators with the newest and most popular games.Reflecting the high popularity of online and mobile games, visitors packed the main hall at BEXCO for the eighth run of the annual game festival. Some of them formed a 100-meter line to watch the opening of the show.Held under the theme “Game, Touching the World,” the global game convention drew traditional game lovers as well as f
TechnologyNov. 8, 2012
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Export-oriented firms suffer as won rises
South Korea’s export-oriented firms are suffering as the won continues to strengthen. The won-dollar exchange rate dipped below 1,100 won last month and has not risen above that value since. For some industries, the exchange rate has already fallen below the minimum needed to secure profit, which averaged 1,086.2 won per dollar, according to a survey conducted by the Korea Chamber of Commerce and Industry on about 500 companies. About 57 percent of the surveyed companies said that their profits
IndustryNov. 8, 2012
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HHI to make construction equipment engines
Hyundai Heavy Industries held a ground-breaking ceremony to build a production line for its joint venture with Cummins, a U.S.-based construction equipment engine maker, in an industrial complex in Daegu on Thursday.Hyundai-Cummins Engine, the 50-50 joint venture between the two companies, will complete the diesel engine production site by May 2014 by investing 87 billion won ($80 million), Hyundai Heavy said in a press release. It added that once the plant is completed, the joint venture firm w
IndustryNov. 8, 2012
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Officials oppose supervisory revamp
Senior financial regulatory officials expressed opposition to the presidential candidates’ election campaign pledges to overhaul the financial supervisory structure.The opponents include the top two officials ― Financial Services Commission chairman Kim Seok-dong and Financial Supervisory Service governor Kwon Hyouk-se.Aside from the political sector, many college professors and economists have continued to express skeptical views over the nation’s regulatory structure and system.“Korea ranked 5
Nov. 8, 2012
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Korean biz bodies hail Obama’s reelection
South Korea’s major business organizations welcomed the reelection of U.S. President Barack Obama on Wednesday as they tried to gauge opportunities and challenges Obama’s second term could bring to local companies and their exports.The Korean Chamber of Commerce and Industry said it hopes that Seoul and Washington will strengthen their economic cooperation and that Obama’s firm leadership will improve conditions of South Korean exporters.The Federation of Korean Industries, the lobby for the cou
Nov. 8, 2012
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Korea holds IR session in H.K.
HONG KONG (Yonhap News) ― South Korea urged investors in Hong Kong Thursday to invest in Asia’s fourth-largest economy by offering a variety of incentives.South Korea’s Ministry of Knowledge Economy opened a national investor relations session in Hong Kong earlier in the day, designed to woo Hong Kong-based large-scale funds and other foreign capital.South Korean officials, led by Knowledge Economy Deputy Minister Moon Jae-do, promised various incentives, and private business meetings will be he
Nov. 8, 2012
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LG Hausys offers on-site tour for clients from Europe
LG Hausys, the building material arm of LG Group, has invited about 50 key clients from European countries, including Russia and Turkey, to Korea and offered them a field trip to its headquarters and shops. “The field trip, which lasted from Nov. 5 to Nov. 9 in the company’s Cheongju factory, was designed to offer European clients a hands-on experience of our competitiveness in product design and technology,’’ a company official said. High-ranking officials invited work for construction and buil
IndustryNov. 8, 2012