Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Samsung, Apple may resolve patent disputes
HONG KONG (Yonhap News) ― Samsung Electronics Co. and Apple Inc. will likely reach an agreement over their patent disputes as neither of the two companies has been a clear winner, Fitch Ratings said Monday.Samsung Electronics and Apple, the world’s two largest smartphone makers, have been waging a series of legal suits against each other, blaming each other for patent infringement in design and technology patents on their key mobile devices.“Fitch sees the legal battle continuing for at least th
TechnologyJuly 30, 2012
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KITA launches online one-stop trade solution service
The Korea International Trade Association has launched a “one-stop trade solution” service in which traders can report trade-related problems online and seek solutions from experts. The internet-based service, launched on Monday, aims to strengthen the competitiveness of the nation’s trade sector with more efficient and individualized solutions and alternatives, KITA said.With TradeSOS, international traders do not have to sweat over finding which of 12 ministries they need to consult when faced
July 30, 2012
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Korea, Turkey to ink FTA on Wednesday
Korea and Turkey are scheduled to ink a bilateral free trade agreement and an agreement on trade in goods on Wednesday in Ankara, Seoul’s Trade Ministry said on Monday.Trade Minister Bark Tae-ho and Turkish Minister of Economy Zafer Caglayan will sign the trade pact, which will be the ninth FTA to be signed by Korea. Turkey will be the 46th country to sign an FTA with Korea.The two countries had announced in March that they concluded the FTA negotiations, which began in March 2010.Bark is also s
July 30, 2012
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Korea nears legal limit on temporary public borrowing
The government neared its legal limit for temporary borrowing ― 20 trillion won ($17.56 billion) ― due to increased loans taken out by the Bank of Korea, stoking concerns of a negative impact on the central bank’s credit and monetary policy.As of the end of June, the government’s temporary borrowing stood at 19.1 trillion won, including 8.1 trillion won in treasury bill balance and another 11 trillion won in the central bank’s outstanding loans. Treasury bills have a maturity of one to three mon
July 30, 2012
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Louis Vuitton most copied
Customs agency finds 1.65 million knockoffs of 211 brandsLouis Vuitton was the most widely copied brand for sale in Korea, the results of a crackdown by the Korea Customs Service on counterfeit products showed Monday.The customs agency found over 1.65 million imitation products of 211 brands offered for sale in the first half of this year, about 5 percent of which copied Korean brands.Among the knockoffs worth a total of 615.9 billion won, Louis Vuitton was the most frequent victim, followed by
IndustryJuly 30, 2012
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Early bird special for AMCHAM picnic
The American Chamber of Commerce in Korea will hold an early bird special for this year’s Labor Day Picnic on Sept. 1.Those who register by Aug. 10 will receive discounts between 10,000 won and 20,000 won. The event is free for children under age 8. The event will be held at the Misari Motorboat Racing Park, located in Hanam, Gyeonggi Province. Visit www.amchamkorea.org for more details. (renee@heraldm.com)
July 30, 2012
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3M Korea holds science camp for students
3M Korea said Sunday that it has successfully held the 11th session of an annual science camp for middle school students. About 120 outstanding science students participated in the one-day event, which took place at a local training center in Cheonan, South Chungcheong Province. A variety of hands-on activities were offered, including a forensic science project, where students learned how to analyze blood stains found at a “crime scene,” as well as a tower-stacking activity involving colorful ca
TechnologyJuly 30, 2012
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Ten big ideas about marketing to Koreans
It is important to keep certain rules of thumb in mind when marketing to Koreans. While not every Korean will share the following outlooks completely, these ideas represent conventional social views in Korea and are applicable and useful for a wide range of marketing purposes. Idea 1 ― Koreans aspire to high achievement quickly Koreans credit much of their success to one thing: hard work. Even today, with government-mandated shorter workweeks, many Korean “salarymen” still put in full days at th
July 30, 2012
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Alstom Korea seeks partnerships with private firms
Local CEO of French company says wind and tidal energy look promising for KoreaMultinational companies often face challenges when doing business in foreign countries. For Alstom Korea, one of the ways to overcome these problems is to pursue strategic partnerships.“Local manufacturers tend to have a monopolistic grip (in the power and transport industries) and they don’t have any real challenges ... so the key to growth for Alstom here is strategic partnering with local companies,” said Barry How
IndustryJuly 30, 2012
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Seoul shares up 0.8 percent on Europe optimism
South Korean stocks finished 0.8 percent higher Monday on optimism that European policymakers will take action to ease the debt crisis, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 14.63 points to close at 1,843.79. Trading volume was moderate at 333.1 million shares worth 3.8 trillion won ($3.3 billion) with gainers
July 30, 2012
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Rich men, poor women exposed to obesity
Women on low incomes are more likely to be obese, while the opposite is true for men, according to a statistical report by the Korean Ministry of Health and Welfare.In a report titled “2010 National Health Statistics,” the ministry classified 8,000 people into four groups based on their monthly income.The relationship between income and obesity rates were opposite for men and women. Men’s obesity rate went up in high-income groups -- 41.0 percent compared to 31.8 percent for their low-income cou
TechnologyJuly 30, 2012
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$15,000 hidden in oven goes up in smoke
An Australian woman burned 15,000 Australian dollars ($15,700) without knowing that her husband hid the money in oven without telling her. The man, who was not identified, hid A$15,000 he had made by selling his car, intending to use it to pay the mortgage. However, his wife did not know about this and destroyed the money when she turned on the oven to make chicken nuggets.“It was everything I had,” the man said.He said he thought it would be safe to put the money in the oven because nobody used
July 30, 2012
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Capone‘s armored Cadillac up for sale
Al Capone‘s green and black Cadillac touring car was among the items on the block Saturday at a Michigan auction. Alan Squindo of RM Auctions told the Detroit News the car could go for as much as $500,000 at the sale in Plymouth, Mich. The event was not open to the public. Squindo said the car would be valuable even without its history. “This is a very special automobile, not withstanding its Capone history,” Squindo said. “It is a luxury car from a classic era as one of the first bulletproof ca
MobilityJuly 30, 2012
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Tick bite may cause red meat allergy
People who have been bitten by a tick, may develop an allergy to red meat, U.S. researchers say. Dr. Susan Wolver and Dr. Diane Sun of Virginia Commonwealth University said delayed anaphylaxis -- a severe, life-threatening allergic reaction -- to meat is a new syndrome identified initially in the southeastern United States. Patients may wake up in the middle of the night, with hives or anaphylaxis
TechnologyJuly 30, 2012
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Mom-to-be diet tied to child hypertension
The offspring of mothers on a low-protein diet are more likely to develop hypertension as adults, U.S. researchers say.Drs. Haijun Gao, Uma Yallampalli and Chandra Yallampalli of the University of Texas Medical Branch at Galveston said in rats, the high maternal testosterone levels associated with a low-protein diet are caused by reduced activity of an enzyme that inactivates testosterone.This inc
TechnologyJuly 30, 2012
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Seoul shares open higher on eased European woes
South Korean stocks got off to a strong start Monday driven by optimism that European leaders will take practical actions to save the euro, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 19.08 points, or 1.04 percent to 1,848.24 in the first 15 minutes of trading.Shares gathered ground across the board, with top-cap Samsung Electronics jumping 2.35 percent and leading c
July 30, 2012
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Hanwha chief praises Jin for winning gold
Hanwha Group said Sunday that its chairman Kim Seung-youn praised pistol shooter Jin Jong-oh for capturing Korea’s first gold medal at the London Olympics on Saturday. “I’m very proud of Jin for impressing the public with the nation’s first gold medal. I feel boosted on my way to Iraq,” he was quoted as telling Jin’s coach by phone from a Dubai airport. On Saturday, Kim was leaving for Iraq where Hanwha Engineering & Construction will carry out a $8 billion housing project for 100,000 houses in
IndustryJuly 29, 2012
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Renault Samsung sees customer satisfaction as winning path
Renault Samsung Motors has gained popularity in the local market with its SM sedan series over the past decade.Of the automaker’s lineup, the mid-sized sedan SM5 and compact SM3 have long been among the top sellers in their respective segments.The mid-sized and compact sedan segments collectively account for about 50 percent of Korea’s passenger car market.Company executives say that the quality of its vehicles is the secret of its success, and a string of awards and consumer survey results back
MobilityJuly 29, 2012
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Housing market continues to suffer stagnation
Experts concerned by government’s hasty measures to save sinking housing marketThe housing market is continuing to stagnate, with industry sources saying sales volume dropping by 20-50 percent every month compared to the same period last year. Following the sluggish demand, house prices are falling in the metropolitan area. Prices for apartments in Gangnam, where prices peaked in 2007, have been decreasing steadily since 2010. The 149.79-square-meter apartments at Daechi I’Park, which were price
IndustryJuly 29, 2012
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Minister, tycoon lash out at chaebol bashing
Hong stresses growth; FKI chief says existing rules enoughPoliticians’ latest calls for “economic democratization,” or efforts to promote balanced growth, prevent market domination by a select few and abuse of economic power, are drawing critical responses from policymakers and business leaders.Both ruling and opposition lawmakers have tabled a number of economic democratization bills to toughen regulations on large conglomerates ahead of the Dec. 19 presidential election. Knowledge Economy Mini
July 29, 2012