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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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Illit, mired in controversy, remains on Billboard charts for 5th week
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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IT ventures suffer manpower shortage: poll
South Korean information technology ventures are suffering from manpower shortages as fewer skilled people enter the field, a poll showed Friday.According to the survey on 1,800 small and mid-size tech firms conducted by the Korea Venture Business Association, 44.6 percent of respondents said they are suffering from a lack of skilled labor.They also cited financial strains, a sales slump, slow progress in research and development and stiff competition as business difficulties.The survey noted th
IndustrySept. 7, 2012
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Vietnam Agent Orange victims get Scientology 'detox'
Dozens of Vietnamese victims of Agent Orange on Thursday embarked on a controversial detoxification treatment plan developed by the Church of Scientology, a Hanoi hospital director said.US aircraft sprayed chemical defoliants such as Agent Orange over vast swathes of jungle during the Vietnam War in an attempt to flush out Viet Cong communist guerrillas by depriving them of tree cover and food.Th
TechnologySept. 7, 2012
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Q2 growth revised down to 0.3%, rate cut expected
Korea’s economy grew at a slower pace than earlier estimated in the second quarter of this year due to weaker demand and sluggish exports, data showed on Thursday.The Bank of Korea said Korea’s gross domestic product grew by a revised 0.3 percent in the second quarter compared to the previous three months, down from an earlier estimate of 0.4 percent.The slower growth is expected to mount pressure on the central bank to cut interests rate again to spur growth. The central bank froze the key rate
Sept. 6, 2012
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Fitch upgrades Korea
Fitch Ratings upgraded South Korea’s sovereign credit rating by one notch on Thursday.This is is the first time in 15 years that Korea has regained the “AA-” rating, which is on par with Saudi Arabia and a step higher than China and Japan.The global rating firm cited its continued economic and financial stability as well as the government’s fiscal discipline.Fitch raised Korea’s government bond rating to “AA-” from “A+”, roughly 10 months after changing the outlook to “positive” from “stable.”It
Sept. 6, 2012
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Shares up ahead of ECB meeting
Korean stocks closed 0.38 percent higher on Thursday as investors pinned hopes on the upcoming European Central Bank meeting, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 7.21 points to 1,881.24, snapping a two-session losing streak.Trading volume was heavy at 733.7 million shares worth 4.2 trillion won ($3.7 billion), with gainers outnumbering decliners 448 to 345.“There were concerns that Germany would be opposed to EC
Sept. 6, 2012
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AmorePacific opens shop in Singapore
AmorePacific Corp., South Korea’s leading cosmetics manufacturer, has opened its first “Sulhwasoo”brand outlet in Singapore as it steps up efforts to make inroads into the Southeast Asian market, company officials said Thursday. The outlet in a department store in Singapore’s popular Orchard Road shopping district sells the company’s top-of-the-line brand, which uses traditional herbal treatments. It is Amore Pacific’s 18th overseas outlet. The company also has Sulhwasoo brand stores in such cit
Sept. 6, 2012
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BMW Korea first in Asia to announce new 7 Series
BMW Korea unveiled on Thursday the new BMW 7 Series, the facelift models of the latest fifth generation of the German carmaker’s flagship luxury line. The Seoul launch was the first in Asia. “We plan to import some 600 new 7 Series vehicles this year. Of them, reservations for 500 have already been made,” said BMW Korea CEO Kim Hyo-joon at a launching event held in southern Seoul. Despite their expensive prices hovering at 130-180 million won ($110,000-150,000) here, the 7 Series models have bee
IndustrySept. 6, 2012
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SC Bank Korea halves dividend payout after public criticism
Standard Chartered Bank Korea bowed to public criticism and decided to pay out a total of 100 billion won ($88.2 million) in interim dividends, half of the originally planned amount.The Korean unit of the British banking group, which had been under fire for its planned payments of a high dividend, made the decision at a board meeting on Thursday.“The dividend amount was determined with consideration to our responsibility to the shareholders to remit a regular dividend flow, but also the local ec
Sept. 6, 2012
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Public firms’ assets largest in OECD, but debts alarming
When it comes to public firms’ net asset value, Korea is No. 1 in the OECD with a total of $177.7 billion, according to data from the organization. Korea was followed by France ($157.7 billion), Norway ($131 billion) and Italy ($105.4 billion).Despite their growing, crucial roles in the nation’s economy, however, there are also concerns that their bigger size may undermine the nation’s fiscal stability because their debts are growing at an alarming level.The combined debts of 286 state-run firms
Sept. 6, 2012
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Samsung hits 20 million Galaxy S3 sales
Tech giant’s products to ‘come out strong’ despite legal challenges with Apple, analysts saySamsung Electronics, the world’s largest tech company by revenue, saw record sales of its flagship Galaxy S3 in a short period of time, despite recent difficulties over legal issues with its rival Apple.The company said Thursday that it sold more than 20 million Galaxy S3 smartphones globally in 100 days since its introduction in late May.In the first 50 days, Samsung sold 10 million Galaxy S3 smartphones
TechnologySept. 6, 2012
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Tick-borne virus, new to Americas, identified in Missouri
Federal scientists have isolated a virus in ticks that has never before appeared in the Western Hemisphere and are calling on other scientists to look for evidence of the disease-causing pathogen.Virus hunters from the Centers for Disease Control and Prevention said the virus causes an illness nearly identical to ehrlichiosis, a tick-borne disease that is caused by a bacterium.The newfound pathogen, known as a phlebovirus, was isolated in 2009 in two Missouri men who doctors knew had been bitten
TechnologySept. 6, 2012
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Australian gets the world’s first prototype bionic eye
SYDNEY ― An Australian woman robbed of her sight 30 years ago told Thursday how she saw a “little flash of light” after being implanted with the world’s first prototype bionic eye.Dianne Ashworth, 54, went blind through an inherited condition called retinitis pigmentosa but had some vision after the device was surgically implanted in a Melbourne hospital and connected up to a laboratory unit.“All of a sudden I could see a little flash ... it was amazing,” Ashworth said in a statement from the Bi
TechnologySept. 6, 2012
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DNA database unlocks map to genetic disease
CHICAGO (AFP) ― A massive DNA database has generated a map of the genetic switches which impact everything from hair loss to cancer and opened the door to revolutionary treatments for a host of deadly diseases, researchers said Wednesday.“This is a major step toward understanding the wiring diagram of a human being,” said lead researcher Michael Snyder of Stanford University.The Encyclopedia of DNA Elements ― or ENCODE ― has enabled scientists to assign specific biological functions for 80 perce
TechnologySept. 6, 2012
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Guard against colon cancer
Many think that colon cancer is something that people aged over 50 should be worried about, but it pays to be on guard against the disease at a much earlier age, doctors say. A study released Thursday by the Korean Society of Coloproctology found that over 20 percent of men in their 30s who underwent colonoscopies between 2009 and 2011 had one or more polyps, the primary seed of colon cancer. It was a surprisingly high rate for the age group, which was regarded as less vulnerable, researchers sa
TechnologySept. 6, 2012
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Cystitis
Cystitis is an inflammation of the bladder lining which can be caused by microorganisms (bacteria, protozoa or viruses), allergies, radiation and pharmacological agents. The most common mechanism of cystitis is bacterial infection through the urethra. Because women have shorter urethras than men, they are more prone to urinary tract infections. This is because the bacteria from the urethra, vagina or the cervix can flow back to the bladder. In this case, the main bacterial organisms are those of
TechnologySept. 6, 2012
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Seoul eyes overseas shale gas
South Korea will seek to develop shale gas as a new major source of energy and expand the country’s imports of the new fossil fuel to 20 percent of all natural gas imports by 2020, the government said Thursday.The country will also take part in overseas development projects to further improve its energy self-sufficiency with shale gas accounting for 20 percent of its self-developed energy supplies in 2020, the Ministry of Knowledge Economy said.The move comes as shale gas is opening up what the
Sept. 6, 2012
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Google enters e-book market in Korea
Joint publishers’ e-reader to roll out in market soon, expecting a boom in Korean marketAttention is being paid to whether the nation’s electronic book industry will be able to bask in a boom as Google threw its hat into the local market this week.Google Korea said on Wednesday that it has created a new “Play Book” category on its mobile app store called Google Play with Korea being the first in the Asian region.By joining hands with many local and global publishers such as Woongjin, Ridibooks a
IndustrySept. 6, 2012
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Renault Samsung, Ssangyong seek recovery
New SM3 targets young consumers; Ssangyong’s Rexton W to be assembled in IndiaRenault Samsung Motors and Ssangyong Motor are gearing up to bounce back from their prolonged sales slump in the local market.Renault Samsung, the fourth-largest automaker in Korea, has launched sales of the New SM3 early this month. Ssangyong Motor will begin production of the Rexton W at a factory in India where the company’s parent group Mahindra & Mahindra is located. The New SM3, the facelift version of Renault Sa
IndustrySept. 6, 2012
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Apple ups offensive against Samsung in Korea
Watchdog probes Korean firm’s alleged 3G patent abuseThe nation’s antitrust watchdog is looking into whether Samsung Electronics’ patented wireless networking technologies could violate a fair licensing agreement within the industry, following a complaint filed by Apple Inc. in June. The investigation by the Fair Trade Commission is expected to cover the two companies’ market shares in the smartph
TechnologySept. 6, 2012
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Court orders communications watchdog to release mobile carriers' cost structures
A Seoul court ordered the communications watchdog Thursday to release cost structures of the country's three mobile carriers in a decision that could possibly help raise pressure on the firms to cut down service charges. The Seoul Administrative Court delivered the ruling in favor of civil rights group People's Solidarity for Participatory Democracy, which petitioned the court to overturn the Kore
IndustrySept. 6, 2012