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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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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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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NASA rover doesn’t detect methane on Mars
LOS ANGELES (AP) -- Scientists say initial sampling of Mars‘ atmosphere by the NASA rover Curiosity did not definitively detect methane, a gas that can be a clue to determining if the red planet ever was hospitable to microbial life.Test results released Friday in a teleconference from Jet Propulsion Laboratory are not conclusive but are in line with past studies that found no regular methane on Mars.The results do stand in contrast to other research such as observations by Earth-based telescope
TechnologyNov. 4, 2012
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EPA finds Hyundai, Kia overstated gas mileage
Hyundai and Kia, Korea's two biggest automakers, overstated the gas mileage on 900,000 vehicles sold in the past three years, a discovery that could bring sanctions from the U.S. government and millions of dollars in reimbursements to car owners.The inflated mileage was uncovered in an audit of test results by the Environmental Protection Agency, which ordered the Korean automakers to replace fuel economy stickers on the affected cars. The new window stickers will have figures that are one-to-si
MobilityNov. 3, 2012
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Android flaw can permit text phishing
Researchers at North Carolina State University say a vulnerability discovered in Android could lead to text message phishing for personal information.The vulnerability affects devices running Gingerbread, Ice Cream Sandwich, and Jelly Bean versions of the Android operating system, Slash Gear reported.The vulnerability would allow a downloaded app infected with malware to make it appear the phone receive texts messages from someone on the phone user's contact list.Such fake messages can be used t
TechnologyNov. 3, 2012
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S. Korea, India to provide $1.1 bln financial support for biz cooperation
South Korea and India agreed to provide a combined US$1.1 billion worth of financial support for their bilateral business cooperation, the finance ministry said.The agreement was signed during the finance minsters' meeting held in central Seoul earlier in the day between the two countries, according to the ministry.Under the agreement, both will provide the financial support through their own export-import banks over the next five years to companies seeking to join in infrastructure construction
BusinessNov. 3, 2012
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Samsung may delay completion of chip-making factory
Samsung Electronics Co. said it is considering delaying the completion of a factory to produce system semiconductors due to macroeconomic headwinds.Samsung Electronics said that it is considering pushing back the completion of a 2.25 trillion won (US$2.06 billion) factory due to the global economic slowdown and market conditions. The factory, located in Hwaseong, 60 kilometers south of Seoul, is under construction.The world's top maker of computer memory chips originally planned to finish the co
TechnologyNov. 3, 2012
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Marketers cash in on services for super-rich
One of latest marketing trends in Korea is in catering to the “top 1 percent” customers. It comes upon a deepening polarization in consumer spending. It is not unusual for the richest 1 percent of customers to dominate a company’s overall sales. Firms in various sectors are rushing to launch marketing drives to woo what they call very, very important persons, or VVIPs, who usually make up 0.5 percent to 1 percent of their customer base. Consumer spending has become polarized as the nation’s eco
Nov. 2, 2012
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VVIP-targeting hotel makes U-turn
A luxury hotel reputed for its “members only” facilities is sheepishly reaching out to the general public to attract new clients. Banyan Tree Club & Spa Seoul, located on the foot of Namsan, central Seoul, drew the media’s attention at the time of its opening in June 2010, claiming to be “home to a high-end social community for the top 1 percent of Korea.” Only a small number of VVIPs recommended by the selected existing members are allowed to join the club, with the membership fee coming to a
IndustryNov. 2, 2012
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Concierge service touches super-rich’s pride
Hotel Plaza in Seoul is the only luxury hotel that offers a concierge service for weddings. Other hotels provide a venue and catering service. But Plaza offers a concierge to oversee the whole process of the wedding. “A wedding concierge is required to be more experienced as they have to serve not just the couple but also their parents on their very special day,” said a manager at the hotel. There are three professional wedding concierges at the hotel who have more than seven years of experience
IndustryNov. 2, 2012
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Shares gain 1.07% on U.S., China data
Korean stocks advanced 1.07 percent Friday, cheered by improved U.S. and Chinese economic indicators, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 20.28 points to finish at 1,918.72. Trading volume was moderate at 434.9 million shares worth 5.46 trillion won ($5 billion) with gainers outpacing losers 518 to 307.“Good economic data in the U.S. and China offset the prolonged eurozone and fiscal cliff risks, though the gain w
Nov. 2, 2012
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Creditors to complete sale of Woongjin Coway by Jan.
The creditors of Woongjin Holdings said Thursday that they have decided to complete the sale of Woongjin Coway Co., a leading local water purifier maker, to MBK Partners Ltd., a leading local private equity fund, by January next year.In August, Woongjin Holdings, the parent company of Woongjin Coway, inked a deal with MBK Partners Ltd. to sell its 30.9 percent stake in the purifier unit to the private equity fund for 1.2 trillion won (US$1 billion) to help improve its financial health.Still, the
IndustryNov. 2, 2012
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LG Innotek, Osram settle patent lawsuit
LG Innotek said Friday that it has reached an agreement with LG Group and Osram, a light-manufacturing unit of Siemens AG, over a patent dispute. The three have been engaged in a legal fight. Osram accused LG and Samsung of infringing on patent rights for LED technology in June last year. LG Innotek said the company and Osram have dropped patent lawsuits in five countries including Korea, U.S., Germany, Japan and China. LG Innotek added that LG Group, LG Innotek and Osram signed a cross-license
TechnologyNov. 2, 2012
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LG International to sell stake in GS Retail
LG International, a South Korean trading company, said Friday that it will dispose of its remaining stake in GS Retail Co. to finance its overseas resource exploration and improve its financial health. LG plans to sell its 11.97 percent stake, or 9.21 million shares, in GS Retail, a local convenience chain operator, through a block deal after the close of the local stock market, the company said in a regulatory filing.The stake sale will lower LG’s stake in GS Retail to zero, said LG, the tradin
Nov. 2, 2012
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Kempinski to operate world’s tallest hotel in N. Korea
The world’s tallest hotel will open next year in the North Korean capital of Pyongyang as the impoverished totalitarian regime burdened by international sanctions seeks foreign currency through a boost in tourism.The 105-story, pyramid-shaped Ryugyong Hotel, whose foundations were poured almost three decades ago, will open partially in July or August, Kempinski AG Chief Executive Officer Reto Wittwer said Thursday at a forum in Seoul. The German luxury-hotel manager will be the first western hos
Nov. 2, 2012
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Lotte chief, Vietnam president discuss investment
Lotte Group chairman Shin Dong-bin discussed future investment plans with Vietnamese President Truong Tan Sang and Vice Premier Hoang Trung Hai on Thursday during his visit to the Southeast Asian country, officials said Friday. It is the second time since February that Shin met the Vietnamese president to discuss Lotte Group’s business in Vietnam and seek ways to expand investment. Shin also visited Lotte’s business sites in the Southeast Asian country. Vietnam is one of the fastest growing mar
IndustryNov. 2, 2012
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British judges order Apple to rewrite Samsung statement
LONDON (AFP) ― U.S. tech giant Apple has until Saturday to re-write an “inaccurate” statement relating to its patent dispute with South Korean rival Samsung, British judges have ruled.A British court forced Apple on Oct. 18 to post a message on the company’s website stating that Samsung’s Galaxy tablet computers had not infringed the design of Apple’s iPad.But Samsung complained that the message did not comply with the court order because it included comments on other rulings in Germany and the
TechnologyNov. 2, 2012
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Department stores offer wine at discounted prices
Major department stores will offer a huge discount for wine products in November when the nation’s big three players are scheduled to celebrate the anniversary of their foundation, respectively.The three department stores ― Lotte, Hyundai and Shinsegae ― have launched a fair or event which feature sales at a discount for wine from special vineyards.Lotte, which kicked off a seven-day wine fair on Friday, will provide consumers with premium wine products with a maximum discount of 90 percent.All
IndustryNov. 2, 2012
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Korean phones, cars thrive in U.S.
Korea’s handset and car makers are standing out in the U.S. market, as they posted an impressive increase in sales in the third quarter despite global economic slowdown. Korean handset makers took over the majority of the U.S. market share in long term evolution smartphone sales, Strategy Analytics said Friday.Korean smartphone manufacturers ― Samsung Electronics, LG Electronics and Pantech ― altogether sold about 5.7 million units out of 10.6 million LTE smartphones sold in U.S. in the third qu
TechnologyNov. 2, 2012
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S. Korea, India to provide $1.1 bln financial support for biz cooperation
South Korea and India agreed on Friday to provide a combined $1.1 billion worth of financial support for their bilateral business cooperation, the finance ministry said.The agreement was signed during the finance minsters' meeting held in central Seoul earlier in the day between the two countries, according to the ministry.Under the agreement, both will provide the financial support through their own export-import banks over the next five years to companies seeking to join in infrastructure cons
IndustryNov. 2, 2012
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SK Planet inks mobile game agreement with Sega
SK Planet Co., an affiliate of South Korea's top mobile carrier SK Telecom Co., said Friday it has signed an agreement with Japan's largest game developer Sega to strengthen its mobile game business.Under the memorandum of understanding, the two companies will cooperate on marketing and distributing Sega's mobile games in the local market, SK Planet said in a press release. SK said it plans to release Sega's "The Clan Battle" early next year after introducing the mobile game at the upcoming G-St
IndustryNov. 2, 2012
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Scientists claim people’s bodies can ‘predict’ future events
People’s bodies are able to subconsciously anticipate important events before it actually occurs, American neuroscientists claimed.So-called presentiment -- when people are able to sense things before they happen without any clues -- actually exist, according to a study led by Northwestern University neuroscientist Julia Mossbridge. It remains unclear however, just how such anticipatory activity occurs, she added.Mossbridge’s study was based on hypothesis that physical responses changed seconds
TechnologyNov. 2, 2012