Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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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 to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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‘Korea needs to benchmark Canada, U.S. for nuclear safety’
Transparency in decision-making process is vital to win residents’ supportOn March 11, 2011, the world witnessed how an ill-managed nuclear plant can affect people’s daily lives. The infamous Fukushima nuclear disaster has become a mark of shame for the entire nuclear power industry ever since.Experts agree that one of the toughest items on the agenda for pro-nuclear energy countries like Korea is safety. Nevertheless, the Korean Ministry of Knowledge Economy and nuclear-related institutions un
Sept. 16, 2012
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Foreign brands tap used car market
More drivers consider used import cars for cheaper price and better after-sales serviceThe coming weeks ahead of the Chuseok holiday at the end of this month are the peak season for the used car market here, according to dealers. “People want to meet their relatives in a better car even though it is secondhand. You can also find a better deal during the period,” said Im Min-kyoung, a spokesperson for SK Encar, the nation’s largest used car dealer. She added that a new trend within the industry
MobilitySept. 16, 2012
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Fiat CEO says German peers ‘deaf’ to call for EU help
Fiat SpA Chief Executive Officer Sergio Marchionne said German carmakers are sticking to their opposition to his efforts to form a united front to push the European Union to address overcapacity in the region. Calls for coordinated efforts have “fallen on deaf ears, certainly from my German colleagues, who do not see the need,” Marchionne, who is also head of Chrysler Group LLC, told reporters Friday in Detroit. Volkswagen AG, Daimler AG and Bayerische Motoren Werke AG are resisting a proposal b
MobilitySept. 16, 2012
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KEPCO seeks to expand overseas business to W75tr
State-run power firm strives to reduce deficit during CEO Kim’s first year via exportsKorea Electric Power Co. has vowed to achieve financial soundness by making greater profits from the global power market while keeping power rates affordable. To meet its vision for 2025, the state-run power company is pushing to increase sales to 150 trillion won ($134 billion) and its overseas business to up to 50 percent of total operations. Currently KEPCO’s overseas sales make up only 3 percent of the tota
Sept. 16, 2012
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Hanwha pushes for Iraq’s housing project in earnest
Builder receives upfront payment of $775 million for $8b project near BaghdadHanwha Engineering and Construction Co. said it received $775 million (about 870 billion won) from Iraq’s National Investment Commission in the upfront payment for the $8 billion housing project near Baghdad.Company officials said it took the advance payment, about 10 percent of the total contract amount through the Iraqi central bank on Sept. 13.The payment dispelled some concerns about a possible delay in the massive
IndustrySept. 16, 2012
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Global academics to discuss social housing in Seoul
LH Corp. chief says housing welfare is a basic condition for a happy societyAn international conference on housing welfare ― which is expected to become a key welfare policy for Korea’s next administration ― will be held in Seoul on Monday, with global academics in attendance. The event comes as the Korea Land and Housing Corporation, the state-run land and housing developer, celebrates the third anniversary of its renaming this year, together with its affiliated Land and Housing Institute. A to
IndustrySept. 16, 2012
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Barbershop staffed by women in bikinis
The owner of a New Jersey hair salon staffed by women in bikinis said he has been receiving offers to open franchises around the country.Jeff Wulkan, who opened Bikini Barbers in Long Branch in February 2011, said his shop has been the subject of a reality TV series -- AXS TV's "Bikini Barbershop: Jersey" -- and has garnered interest from all over the country from people interested in opening fran
IndustrySept. 16, 2012
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When you eat may make all the difference
JERUSALEM, Sept. 15 (UPI) -- When you eat, not what you eat may make all the difference for those who want to watch their weight, researchers in Israel say. Professor Oren Froy, Professor Zecharia Madar, research student Yoni Genzer and research fellow Dr. Hadas Sherman with the Institute of Biochemistry, Food Science and Nutrition at the Hebrew University of Jerusalem showed a carefully scheduled high-fat diet can lead to a reduction in body weight. For 18 weeks, the researchers fed a group of
TechnologySept. 16, 2012
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Mars rover finds strange spheres on ground
Small spherical objects fill the field in this mosaic combining four images from the Microscopic Imager on NASA`s Mars Exploration Rover Opportunity. The view covers an area about 6 centimeters across, at an outcrop called "Kirkwood" in the Cape York segment of the western rim of Endeavour Crater. (NASA/JPL-Caltech/Cornell Univ./ USGS/Modesto Junior College)NASA says researchers are struggling to
TechnologySept. 16, 2012
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Breastfeeding mother appears on a magazine’s cover photo again
A mother in her 20s who had previously decorated the cover of Time magazine breastfeeding her 3-year-old son has appeared on another magazine’s cover.Jamie Lynne Grumet, 26, a stay-at-home mom in Los Angeles and her son had been the cover photo of Time magazine for a story on “attachment parenting,” in May and reactions ranged from applause to cringing to shrugs.On Twitter, at that time, the cover
TechnologySept. 15, 2012
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S. Korea, China agree to speed up free trade talks
(Yonhap) -- South Korea and China have agreed to speed up their ongoing free trade talks as part of efforts to increase economic cooperation between the neighboring countries, the finance ministry said Saturday. Both also agreed to intensify cooperation in currency polices, while seeking to increase settlements by using the won and the yuan, according to the ministry. The agreements were made
Sept. 15, 2012
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U.S. trade agency sides with Apple over Samsung
WASHINGTON (Yonhap) -- Apple Inc. scored another victory Friday over its rival Samsung Electronics Co., this time in a preliminary ruling by a U.S. government trade commission.Apple didn't violate Samsung's patent rights in producing the iPod touch, iPhones and iPads, James Gildea, a judge at the International Trade Commission (ITC), said on its website.The ITC's ruling deals another blow to Sams
IndustrySept. 15, 2012
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Statoil books, Total cancels North Sea crude tankers for Korea
Statoil ASA hired a supertanker to haul North Sea crude from Mongstad in Norway to South Korea, while Total SA canceled a booking it made yesterday, according to Optima Shipbrokers Ltd.Statoil booked a very large crude carrier, the Front Ariake, to transport crude from Mongstad to South Korea at an undisclosed rate, loading on Oct. 14 to Oct. 15, Athens-based Optima said today. Chartering and Ship
Sept. 14, 2012
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KOSPI hits 5-month high as Fed acts
South Korea’s benchmark Korea Composite Stock Price Index passed the 2,000-point mark on Friday, hitting a five-month high upon the U.S. Federal Reserve’s monetary stimulus action and S&P’s upgrades of the country’s credit ratings.Seoul stocks closed at 2,007.58 points, a jump of 2.92 percent from the previous day. The U.S. Federal Reserve announced on Friday it would implement a third round of quantitative easing by purchasing additional agency mortgage-backed securities at a pace of $40 billio
Sept. 14, 2012
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S&P upgrades Korea’s credit ratings to ‘A+’
Standard & Poor’s Ratings Services raised on Friday South Korea’s credit rating from “A” to “A+,” the fifth-highest level on its rating system. It is the first time in seven years that the international ratings agency has upgraded Korea’s ratings. It maintained the rating outlook for Asia’s fourth-largest economy at “stable.” “The upgrade reflects our less negative assessment of the geopolitical risks on the Korean Peninsula. It follows what we judge to be a smooth change of leadership in the De
Sept. 14, 2012
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‘League of Legends’ dominates Korean game market
Real-time online strategy genre gaining popularity, outsmarting online RPG titles“League of Legends,” a real-time online strategy game, is the undisputed frontrunner in the fiercely competitive game industry in South Korea, with role-playing titles such as “Blade & Soul” and “Diablo 3” following right behind in the rankings. According to the chart for the second week of September released by Inven, a local website which offers weekly game rankings, League of Legends held on to the No. 1 slot for
TechnologySept. 14, 2012
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In search of a jackpot in a fantasy world
“Diablo 3,” an action role-playing game by Blizzard Entertainment, is viciously addictive in a peculiar way. When I purchased the much-hyped package priced at 55,000 won ($48) about two months ago, I was vaguely aware that stepping into the dark fantasy world of the Diablo franchise would require some energy and time. It turned out that what is needed is actually a diabolical amount of patience and persistence, as well as sheer luck to stay alive in the virtual hack-and-slash world of “Diablo 3.
TechnologySept. 14, 2012
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Kia Motors sees sales in China rise 1.7% in Aug.
HONG KONG (Yonhap News) ― Kia Motors Corp.’s sales in China rose 1.7 percent in August from a year earlier amid the country’s economic slowdown, an industry group said Friday. South Korea’s second-largest automaker sold 35,610 units in China last month, compared with 35,015 units in the same month of last year, according to the China Passenger Car Association.The figure was a 7.5-percent increase from 33,111 in July this year.In the first eight months of the year, Kia Motors sold 289,817 vehicle
Sept. 14, 2012
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GS Caltex sets up Chinese unit
GS Caltex Co., South Korea’s second-largest refiner, said Thursday it has set up a wholly owned subsidiary in China in an effort to build its presence in the world’s No. 2 economy. GS Caltex China, based in Beijing, is in charge of areas including lubricants, petroleum and petrochemicals, the refiner said in a press release. The refiner first opened a regional Beijing office in 2007 before recently making it a wholly owned subsidiary, and also opened an office in Shanghai in June this year. GS C
Sept. 14, 2012
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Darby seeks to tap NPS, Eximbank for Colombian infrastructure investment
Darby Overseas Investments is seeking to tap the National Pension Service, Korea’s pension fund, and the Export-Import Bank of Korea as its potential institutional investors for infrastructure in Colombia.The U.S. private equity is considering setting up its largest fund yet to invest in “segments” of Colombia’s $20 billion road project, which will be announced next week, Darby CEO Richard Frank told The Korea Herald.Darby has normally managed funds sized at around $300 million, and invests in i
Sept. 14, 2012