Most Popular
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Ador CEO's dismissal to be decided on last day of May
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[Graphic News] Beer the most favored alcoholic drink by Koreans
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Science Ministry expresses regret over Japan’s pressure on Naver
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Haeundae Beach to become sand art museum in late May
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Hostilities get out of hand as YouTuber murders another outside courthouse
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Medical professors set to take day off amid protracted walkouts by junior doctors
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Police officer jumps barefoot into drainage tunnel to save man
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Lee Sun-kyun's posthumuous film to hit theaters in August
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State-led adoption system to be established to ensure adoptees' well-being, minimize overseas adoption
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Mammoth fragments from Siberia raise cloning hopes
MOSCOW (AP) -- Scientists have discovered well-preserved frozen woolly mammoth fragments deep in Siberia that may contain living cells, edging a tad closer to the “Jurassic Park” possibility of cloning a prehistoric animal, the mission‘s organizer said Tuesday.Russia’s North-Eastern Federal University said an international team of researchers had discovered mammoth hair, soft tissues and bone marrow some 328 feet (100 meters) underground during a summer expedition in the northeastern province of
TechnologySept. 12, 2012
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Zuckerberg: Time to ‘double down’ on Facebook
SAN FRANCISCO (AP) -- Facebook CEO Mark Zuckerberg hasn’t enjoyed seeing his company‘s stock get pummeled on Wall Street this summer, but he is relishing the opportunity to prove his critics wrong. “I would rather be in a cycle where people underestimate us because I’d rather be underestimated,” Zuckerberg said Tuesday. “I think it gives us the latitude to go out and make some big bets.” Zuckerberg, 28, made his remarks before a standing-room-only audience at a tech conference in San Francisc
TechnologySept. 12, 2012
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Baby boomers account for 44 percent of small business bankruptcies
A growing number of the baby boomer generation, which refers to people born between 1955 and 1963 in Korea, is suffering bankruptcy of their small businesses, a financial data provider showed.According to the Korea Financial Telecommunications & Clearings Institute, the total number of micro-business owners with dishonored bills came to 237 for the first eight months of the year.The data showed that 104 individuals, or 44 percent, were baby boomers.This means the proportion of baby boomers out o
IndustrySept. 11, 2012
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Korea develops low-energy carbon capture system
A team of Korean scientists has developed a new carbon dioxide capture technology which they claim is the most energy-efficient among currently available methods. Carbon capture involves removing carbon dioxide from industrial waste gases released into the atmosphere to lower the industry’s impact on the environment. The team led by Yoon Yeo-il of the Korea Institute of Energy Research and uses potassium carbonate to extract carbon dioxide combustion gas released at industrial plants.The technol
TechnologySept. 11, 2012
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BOK head to chair BIS’ Asian Consultative Council
South Korea’s top central banker was appointed on Tuesday by the Bank for International Settlementsto chair the Asian Consultative Council starting in October for two years, the central bank said.Bank of Korea Gov. Kim Choong-soo will head the BIS regional consultative council in Asia, replacing the incumbent chair, Bank of Japan Gov. Masaaki Shirakawa, the BOK said in a statement.The ACC, comprising 12 central banks in the Asia-Pacific region, was established in March 2001 to promote cooperatio
Sept. 11, 2012
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KB launches panel to assess social contributions
KB Kookmin Bank on Tuesday launched a committee to assess and get advice on the bank’s various social contribution activities.The KB Social Contribution Committee is comprised of five outside experts such as professors and senior staff of the Korea YMCA and a network of advocacy groups for disabled people, as well as two KB executives.“We ask you to empathize with KB Kookmin’s efforts to give hope to the socially vulnerable as well as our customers and the entire Korean people,” the bank’s chief
Sept. 11, 2012
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SK E&C wins $380 million power plant deal in Kuwait
SK Engineering and Construction said Tuesday that it has won a $380-million deal from the state-run Kuwait Oil Company to refurbish some 60 power transmission plants there. With the new project, the construction unit of SK Group became the first Korean builder to see its combined orders in Kuwait exceed $5 billion, company officials said. SK E&C will repair 62 power transmission plants or build new ones that provide electricity to 30 oil-collecting and transport facilities in an oil field, some
IndustrySept. 11, 2012
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Metlife, AIA in planners war
Despite diversifying sales channels through the Internet and home shopping networks, insurance companies in Korea still rely heavily on salespeople, or life planners. Fierce competition to scout life planners with outstanding sales records has driven Metlife Korea to file a suit against AIA Life Insurance.The local arm of the U.S. insurer recently filed a 15 billion won damages suit against AIA Life with the Seoul Central District Court for obstructing its sales by scouting a number of high-perf
Sept. 11, 2012
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Samsung goes past Apple in U.S. consumer preferences
Samsung Electronics recently overtook Apple in consumer preferences in the United States, regardless of the recent U.S. jury verdict in favor of Apple in the patent lawsuit between the two companies.According to a survey conducted by YouGov and Early Adopter on 5,000 consumers aged between 18 and 34, preference for Samsung Electronics has rapidly increased to surpass that for Apple over the past two weeks.Over a series of polls by the agencies, the survey showed that Samsung won 45 points on ave
IndustrySept. 11, 2012
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Korean watchdog to promote Seoul as financial hub
HONG KONG (Yonhap News) ― Korea’s financial regulator said Tuesday it will hold an investor relations session in Hong Kong this week in a bid to promote Seoul as a financial hub and attract foreign financial companies to the capital.The 2012 Financial Hub Seoul Conference in Hong Kong, to be hosted jointly with the Seoul Metropolitan Government on Wednesday, will highlight South Korea’s efforts to become a leading financial center, the Financial Supervisory Service said.Participants will also be
Sept. 11, 2012
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Apple may delay iPhone 5 release in Korea
Apple’s new smartphone both boon and bane for telecom operatorsTech watchers and Apple fans are anxiously awaiting the U.S. company’s grand introduction of its next smartphone model, the iPhone 5, on Sept. 12.Since the announcement of Apple’s media event which showed the numbers “12” and “5” silhouetted on its press invitations, market analysts are already forecasting that its new phone will be a hit even before the iPhone 5 is revealed to the public.Rumors and speculations are growing globally.
TechnologySept. 11, 2012
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Shares edge lower on investor wariness
South Korean stocks closed 0.24 percent lower Tuesday as investors became wary ahead of key events at home and abroad, analysts said. The local currency declined against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 4.7 points to 1,920. Trading volume was heavy at 703.2 million shares worth 4.25 trillion won ($3.77 billion), with losers outpacing winners 457 to 339.“Investors sat on the sidelines to see what policymakers will decide regarding economy-boosting plans later t
IndustrySept. 11, 2012
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Hyundai to provide W10b to the poor
The Chung Mong-koo Foundation, funded by the Hyundai Motor Group chairman, announced Tuesday a new charity program that will provide a combined 10 billion won ($8.8 million) to 20,000 low-income households from October. The new fund will focus more on those who have fallen into the dead zone in regards to government welfare programs, including senior citizens living alone, orphans, low-income multicultural families and North Korean defectors. The foundation plans to continue the support for up t
IndustrySept. 11, 2012
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Seoul-Tokyo tension hits one of 10 Korean firms: poll
Slightly more then one in 10 South Korean companies that trade with Japanese businesses has suffered damage due to the recent diplomatic flare-up between the two countries, a poll showed Tuesday. According to the survey of 500 businesses trading with Japan, 12 percent said they have suffered setbacks in their commerce with Japanese firms due to deteriorated relations between the two countries, while 88 percent said they have not seen any damage. If the tension is prolonged, 64.7 percent of the c
Sept. 11, 2012
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Ensuring wine is beautiful ‘till the last drop’
Australian family-run winemaker seeks future in KoreaBorn into the wine industry, Peter Barry tasted his first glass of wine around the age of 6. “I loved watching people taste wines, smile, and ask, ‘Where is this from?” said the Australian winemaker during an interview on Monday in southern Seoul.He started working at the wine company founded by his father Jim Barry, which the brand was named after, in 1982. His father passed away in 2002, leaving Barry the managing director and proprietor of
IndustrySept. 11, 2012
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Costco Wholesale Korea under fire for doing business on Sunday
The South Korean unit of U.S. retail giant Costco Wholesale Corp. has resumed operations on Sunday at its outlets across the country, a move that local industry officials claim violates Seoul’s policy of restricting the business of large retailers.Local authorities in South Korea have prohibited large retailers from doing business on the second and fourth Sunday of every month to help protect mom-and-pop stores. South Korea’s largest retailer E-Mart and other retail chains later won injunctions
Sept. 11, 2012
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Three-way battle in duty-free market
Shinsegae jumps into local duty-free market dominated by Lotte and ShillaA three-way race is expected as Shinsegae jumped into the local duty-free market which has been so far dominated by Lotte Group and Hotel Shilla. Shinsegae Group announced Wednesday that it had acquired an 81 percent share of Paradise Duty Free for 93 billion won ($82 million). The duty free shop is located inside Paradise Hotel in Busan Metropolitan City and is the 6th biggest in the market. The nation’s duty-free industry
IndustrySept. 11, 2012
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KFS at vanguard of low-carbon green growth
Forest agency expands scope of cooperation to Latin AmericaThe Korea Forest Service leads the vanguard of the nation’s push for lowering carbon emissions and developing green industries.The KFS, in charge of forest policies, has promoted the policy of low carbon emission and green growth on the basis of its “Fifth National Forest Plan.”The 10-year plan, which was implemented in 2008, is designed to further expand the implementation of sustainable forest management in pursuit of maximizing fores
Sept. 11, 2012
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Apple’s secret message about the iPhone 5
Apple fans have found potential clues about the new iPhone 5 just days before its launch, according to news sources. Apple’s PR team started setting up in San Francisco’s Yerba Buena center, the site for the grand launch, over the weekend. On Wednesday, CEO Tim Cook will release the product to the public. Although Apple is famous for keeping silent about their new products, eagle-eyed Apple fans seem to have found a clue in the banner outside the building. Some very eager fans played with the sh
TechnologySept. 11, 2012
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Hollister models’ racist antics in Korea lead to termination
Models of U.S. brand Hollister who allegedly mocked Asians in online photographs were fired, the Daily Mail and other news sources reported on Monday. Hollister recently announced on its homepage that it dismissed the models who uploaded the offensive photos online, and issued a statement of apology.“On behalf of our more than 80,000 associates around the world who cherish our core values and our culture of diversity and inclusion, we sincerely apologize for the offense caused by these unauthori
IndustrySept. 11, 2012