Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Court upholds jail term for man who attempted to murder ex-girlfriend
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S. Korea to boost support for single-parent families
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Yellow dust engulfs S. Korea, advisory alert issued
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Kia EV9 wins world car of year
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Lee Jong-sup resigns as envoy to Australia
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Korea misses out on global bond index boost
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Hanwha E&C seeks to cement Iraq ties
Hanwha Engineering and Construction, one of Korea’s leading builders, is seeking to cement business cooperation with Iraq, hoping to lead the “second Middle East boom” as the Mideast country rebuilds after war.For Korean builders, the Middle East has been a major construction market since 1965, when Korea started doing construction overseas. Since then, Korean builders have secured a combined $500 billion in overseas construction orders as of June. Behind Korea’s surprise performance, there may
IndustrySept. 3, 2012
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Citibank Korea launches wealth management service for millionaires
Citibank Korea opened its first private wealth management service center in Seoul last month. Citigold Private Client Center, opened in Gangnam Finance Center in southern Seoul on Aug. 17, targets top-tier clients of the bank who have a minimum total balance of 1 billion won ($882,000), half of which is in investment assets. The new center is part of the bank’s move to separate clients who require professional investment advice to provide unique, differentiated products and research backed by to
Sept. 3, 2012
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Foreign firms turn to welfare to boost morale
Family-friendly foreign companies help employees ‘connect the dots’ in child careKoreans have associated foreign companies with a public image of workplaces with a democratic decision-making process and advanced welfare policies. Different foreign companies offer different degrees of financial support for children’s education. But they have similar parent-friendly welfare policies, particularly on paid maternity leave, paternity leave ― often shorter than maternity leave ― and half-day policies
Sept. 3, 2012
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K-pop stars become Adidas Asia models
Adidas Korea announced Tuesday it will hire Korean girl group 2NE1 as new models for its “All Originals Represent” advertisement campaign in Asia. In addition to the four-member K-pop group, hip-hop artists Nicki Minaj and Big Sean, NBA player Derrick Rose and Adidas fashion designer Jeremy Scott will show up in the advertisement. Scheduled to be first aired on YouTube, the advertisement clip shows an interesting episode which takes place on crosswalks of multiple nations in Asia, the Americas a
Sept. 3, 2012
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Samsung, Apple set another patent battle in Europe this week
Ruling in Netherlands seen crucial as it will likely affect other European court verdicts Aside from Samsung Electronics’ multibillion dollar patent suit against Apple Inc. in the U.S., the two are expected to stage another battle at a court in the Netherlands this Friday.According to Samsung, the two parties plan to face off again in Europe, starting at a court in The Hague on Friday, local time,
IndustrySept. 3, 2012
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Build huge muscles without ever exercising again: experts
Researchers have found a way to automatically build muscle mass at Galvan Institute of Medical Research in Australia, according to news sources.The report, published in The FASEB Journal, said that blocking the function of Grb10, nicknamed the “Hulk” protein, showed signs of increased muscle growth without any change in activity, diet, or adverse health effects. Researchers compared infant and adult mice of two groups: a normal group and a group whose Grb10 function was halted. The study showed
TechnologySept. 3, 2012
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California to allow self-drive cars in tests
California lawmakers have passed a bill that could make the state the second in the United States to approve self-driving cars on its roads.The bill, passed unanimously by the state senate, will go to Gov. Jerry Brown, who is expected to sign it into law, TG Daily reported Friday.Under the law, the California Department of Motor Vehicles would be required to create standards and licensing procedur
TechnologySept. 3, 2012
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Seoul shares dip after high start
South Korean stocks opened higher on Monday but swung to negative territory due to losses in major blue chips, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.28 points, or 0.49 percent, to 1,895.84 in the first 15 minutes of trading.Samsung Electronics slumped 2.11 percent following Apple Inc.'s move to add more products to its patent infringement list. Top steelmaker
Sept. 3, 2012
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S. Korea's consumer price growth slows to 12-year low in Aug.
South Korea's consumer prices grew at the slowest click in over 12 years last month amid government efforts to keep inflationary pressure down, a report showed Monday.The country's consumer price index rose 1.2 percent from a year earlier in August, compared with a 1.5 percent on-year gain the previous month, according to the report by Statistics Korea.The so-called core inflation, which excludes
Sept. 3, 2012
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Apple-Samsung patent battle intensifies
Apple adds Galaxy S3, Galaxy Note to infringement list, Samsung seeks counteractionThe patent battle between Samsung Electronics and Apple Inc. is intensifying as the U.S.-based tech giant took legal action against the Korean firm’s latest flagship smartphones.Apple added Samsung’s Galaxy S3 and Galaxy Note to the list of the products that it claimed infringed its patents when it submitted a revised filing at a U.S. federal court last Friday.Galaxy 3 is the latest in Samsung’s smartphone series,
TechnologySept. 2, 2012
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Smartphone AIDS tests studied in Korea, S. Africa
PRETORIA (AFP) ― South African and South Korean researchers are working on making a smartphone capable of doing AIDS tests in rural parts of Africa that are the worst hit by the disease, a researcher said Friday.The team have developed a microscope and an application that can photograph and analyze blood samples in areas far from laboratories to diagnose HIV and even measure the health of immune systems.“Our idea was to obtain images and analyze images on this smartphone using applications,” sai
TechnologySept. 2, 2012
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Kim CS named among worst central bankers
Bank of Korea governor Kim Choong-soo was named one of the world’s 13 worst central bankers in an evaluation of 50 key countries, business news channel CNBC said last Friday, adding global disgrace to his already compromised reputation at home.Denounced for his lack of communication with the market and flawed economic forecasts, Kim retained the grade “C” he received in 2011 in the annual “Central Banker Report Card” published by Global Finance magazine.Korea, Japan and India were the only count
Sept. 2, 2012
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NASA launches twin satellites
CAPE CANAVERAL, Florida (AP) ― Twin U.S. satellites rocketed into orbit Thursday on a quest to explore Earth’s treacherous radiation belts and protect the planet from solar outbursts.It’s the first time two spacecraft are flying in tandem amid the punishing radiation belts, brimming with highly charged particles capable of wrecking satellites and endangering astronauts.“We’re going to a place that other missions try to avoid, and we need to live there for two years. That’s one of our biggest cha
TechnologySept. 2, 2012
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Korean team develops new way to create membranes
Scientists in Korea have developed a new way to produce nanosieves, thin layers with holes just millionths of a millimeter across, using an industrial process commonly used to make semiconductors.The discovery could be used to make selectively permeable membranes ― sieves that only allow specific types of particles to move across them. Synthetic membranes of this type have applications ranging from medical and environmental to energy.In a project supported by the Ministry of Education, Science a
TechnologySept. 2, 2012
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Korea’s science policies should reflect progress
Collaboration, exchange and stability key to effective policies on science and tech researchMore advanced Asian nations including Korea need to adopt new science and technology policies to achieve globally relevant innovations, says professor Stefan Kuhlmann of the Netherlands’ University of Twente.Kuhlmann, who has focused on innovation systems and policies for science and technology for the past 18 years, said that Korea and other developed Asian nations including Japan are now capable of comp
TechnologySept. 2, 2012
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Shares likely to stay on sidelines this week
Korean stocks will likely move sideways this week, with investors eyeing the result of the European Central Bank’s monetary policy meeting scheduled for later in the week, analysts said.The benchmark Korea Composite Stock Price Index finished at 1,905.12 this week, down 0.8 percent from the previous week. It sank into negative territory earlier in the week after top-cap Samsung Electronics nosedived 7 percent on its patent lawsuit defeat to Apple Inc. The KOSPI rebounded after expectations of ec
Sept. 2, 2012
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CJ to operate amino acid plant in China
CJ Cheil Jedang Corp. said Sunday that its newly built Chinese plant in Shenyang that processes amino acid, an essential ingredient for animal feed, will start work this month.Costing about $400 million, the Korean company’s Chinese plant is capable of processing about 100,000 tons of lysine, 50,000 tons of threonine and 3,000 tons of nucleic acid per year, the company said.CJ Cheil Jedang claims that once the Shenyang plant is on track, it will obtain a production capacity of 600,000 tons of ly
IndustrySept. 2, 2012
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KEPCO to reconsider sue on Korea Power Exchange
The Korea Electric Power Corp, a state-run power distributor, said Sunday that the company is currently reconsidering its decision to file a suit against the Korea Power Exchange and the assessment committee of market price for electric power. While keeping the lawsuit as a possible but not probable option, the company is looking for different alternatives, a KEPCO official said.The power firm had announced on Aug. 29 that it would sue the two state organizations over an unreasonable power charg
IndustrySept. 2, 2012
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Busan gets ready for ITU conference
BUSAN ― The Korea Communications Commission is getting ready to hold the plenipotentiary conference of the International Telecommunication Union in Busan in 2014, selecting BEXCO as its location.The event is planned to take place for three weeks from Oct. 20, bringing together about 3,000 people, including representatives from government, international organizations and businesses in 193 nations.“We’re planning to show Korea has changed its position from a country with strong information and com
Sept. 2, 2012
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Trade surplus in August narrows on falling exports
Korea’s trade surplus shrank in August from a month earlier as exports fell largely due to jittery external conditions and bad weather, the government said Saturday. The country’s trade balance came to $2.04 billion in the black last month, compared with a surplus of $2.75 billion in July, according to the Ministry of Knowledge Economy. The August figures mark the seventh consecutive month the country has posted a trade surplus since January, when the country’s trade balance went into the red fo
Sept. 2, 2012