Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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KT switches focus to going global
Korean telecom giant aims for W4 trillion in sales abroad by 2015KT, the country’s biggest fixed-line service operator, is aiming to become a leading global company, projecting about 4 trillion won ($3.47 billion) in overseas yearly sales and global projects taking up 10 percent of its operations by 2015. Although the firm did not unveil the specific outline of its global business, a top executive said it will proceed with the projects based on four rough strategies: participating in stake inve
IndustryJuly 12, 2012
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FTC chief opposes cap on conglomerate investment
The nation’s chief antitrust regulator reiterated his stance of skepticism toward calls for the revival of a ceiling on equity investment by big business groups at a forum in Seoul on Thursday.The remarks of Fair Trade Commission chairman Kim Dong-soo come while a group of opposition lawmakers are issuing the necessity of more rigidly regulating the conglomerate sector by reintroducing the equity investment ceiling.While some lawmakers argue the government should restrict conglomerates from inve
IndustryJuly 12, 2012
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Shares drop despite rate cut
South Korean stocks plunged 2.24 percent on Thursday as investors were not cheered by the central bank’s rate cut and foreigners dumped local stocks upon a futures and option expiry, analysts said. The local currency tumbled against the U.S. dollar.After starting 0.08 percent higher, the Korea Composite Stock Price Index dived 41 points to finish at 1,785.39, falling below the 1,800 level for the first time in more than a month.Trading volume was light at 314.5 million shares worth 4.24 trillion
July 12, 2012
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Banks’ long-term foreign borrowing costs decline
Korean banks’ long-term overseas borrowing costs fell sharply in June on the back of eased market conditions over the debt-mired eurozone, the financial watchdog said Thursday. The spread on mid- and long-term foreign borrowing by local lenders that mature in one year stood at 93 basis points at the end of last month, sliding from 112 basis points in May, according to the Financial Supervisory Service. A basis point is 0.01 percentage point. The spread on short-term overseas borrowing, however,
July 12, 2012
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Car registration slows
The rise in the number of registered vehicles in Korea slowed down in the first half mainly due to a large drop in new vehicle purchases, the Transportation Ministry said Thursday.The number of registered vehicles came to 18,661,866 as the end of June, up 1.2 percent from that of 2011 when the number had surged 2.8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs.The slowdown was apparently caused by a significant drop in the number of new vehicle pu
July 12, 2012
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Only 32% of elderly benefit from public pension system
Only 32 percent of South Korean senior citizens benefit from the public pension system, stoking concern over financial difficulties for the aged population, data showed Thursday. The proportion of public pensioners aged 65 and older stood at 31.8 percent at the end of 2011, according to the data by Statistics Korea and the Financial Supervisory Service. Beneficiaries of the National Pension Service accounted for 28.3 percent of the elderly, with 3 percent benefiting from the pension fund for civ
July 12, 2012
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Luxury goods imports from EU soar after FTA
Korea’s imports of luxury goods from the European Union have surged since the implementation of a bilateral free trade deal a year earlier, customs data showed Thursday.Korea imported a total of $1.24 billion worth of wrist watches, bags, shoes, perfumes and cosmetic products from the EU between July 1, 2011, and June 30 this year, according to the data by the Korea Customs Service.That amount is up 21.68 percent from $1.02 billion worth of imports of such relatively high-priced products during
July 12, 2012
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Real-estate reform wanted, poll finds
Experts predict sentiment will worsen in latter half: KCCI surveyMore than half of Seoulites and the people residing in satellite cities said vitalization of the real estate market is necessary, a survey showed on Thursday.According to a poll by the Korea Chamber of Commerce and Industry, 54 percent of the 500 adults and 88 property experts said a boom in the real estate market is needed.About 20 percent of the respondents said vitalization is unnecessary while 25 percent of them did not pick ei
IndustryJuly 12, 2012
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Cookman releases new health-friendly products
Cookman, the Korea-based maker and distributor of the world’s first infrared-ray electric roasting pan, released its two new products “Cookman Premium S-II” and “Cookman New Silver S-II” this month.The two new products are equipped with some upgraded functions including a three-level control on fire intensity in which the user can adjust the heat level for personal taste. It also emits less smell or smoke while cooking than normal pans, ensuring both flavor and health, according to a company rep
IndustryJuly 12, 2012
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Chinese firm Greenland to invest $872 billion in Jeju Healthcare Town
Shanghai-based property developer the Greenland Group will invest about 1 trillion won ($872 billion) into the Jeju Healthcare Town project in the coming months. According to the Jeju Free International City Development Center, or JDC, the Chinese firm signed a memorandum of agreement with the Jeju business organization during a ceremony held in Shanghai, China, on Wednesday.Under the agreement, the Greenland Group will build recreational and cultural facilities, a medical research and developme
July 12, 2012
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FedEx Korea CEO hopes to inspire others
Chae Eun-mi, first Korean CEO of the global firm’s local unit, puts emphasis on employee satisfactionA growing number of multinational companies are selecting Korean natives to lead their regional offices here. And Chae Eun-mi, representative director of FedEx Korea, hopes her performance will inspire other global firms to consider more Korean executives.“Companies may want to share their management philosophy by dispatching their own staff at first. But it is obvious Koreans have strength in co
IndustryJuly 12, 2012
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Early HIV treatment may help stem AIDS, research shows
LOS ANGELES ―Treatment drugs can do more than improve the health of people with HIV: If administered early, medications can also reduce the spread of the disease to sexual partners and may help stem the AIDS epidemic.But many logistical hurdles stand in the way of making this strategy feasible, affordable and effective, according to experts writing in Tuesday’s edition of the journal PLoS Medicine.The medications in question are antiretroviral therapies, which prevent HIV from multiplying and dr
TechnologyJuly 12, 2012
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Study links cat parasite to suicide risk in humans
LOS ANGELES ― A wily parasite well known for influencing the behavior of its animal hosts appears to play a troubling role in humans, increasing the risk of suicide among women who are infected, new research shows.Chances are you or someone you know has been infiltrated by the parasite, called Toxoplasma gondii. Researchers estimate that T. gondii is carried by 10 percent to 20 percent of Americans, who can get it by changing litter used by infected cats or eating undercooked meat from an animal
TechnologyJuly 12, 2012
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DNA study adds weight to disputed view of migration into North America
LOS ANGELES ― Supporting a controversial view of how humans might have populated the Western Hemisphere, geneticists have found that groups from Asia traveled over the Bering Strait into North America in at least three separate migrations beginning more than 15,000 years ago ― not in a single wave, as has been widely thought.“We have various lines of evidence that there was more than one migration,” said Dr. Andres Ruiz-Linares, a professor of human genetics at University College London and seni
TechnologyJuly 12, 2012
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Emergency medicines for summer vacation
Here is a list of helpful emergency medicines and medical supplies you should prepare for your summer vacation:Medicines: antipyretic-analgesics, digestive medicine, antacids, anti-inflammatory agents, skin ointment containing antibiotics, antiseptic agentsMedical supplies: thermometer, dressing sets, plasters, tweezers, scissors for medical purposes, cotton Also, it is good to have sunscreen agents, Vaseline and other skin ointments for burns.Antipyretic-analgesics and digestive medicine can be
TechnologyJuly 12, 2012
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Watch out for hand, foot and mouth disease
Parents with infants and toddlers are urged to take extra caution this year for hand, foot and mouth disease ― a mild, contagious viral infection common in young children for which there is no vaccine. According to the Korea Center for Disease Control and Prevention, 16.7 out of every 1,000 out-patients in local hospitals were diagnosed with the epidemic for the week of June 24-30. “The infection is maintaining a high prevalence,” the KCDC said in a statement. This year’s number of patients is l
TechnologyJuly 12, 2012
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Brain structure linked to altruism: study
A new study has reportedly found that brains of selfless people are different than those of selfish people, according to a report on Science Daily.“People who behaved more altruistically also had a higher proportion of gray matter at the junction between parietal and temporal lobe,” said researchers from the University of Zurich in Switzerland. Past studies have indicated that the cited brain region is related to a person’s ability to empathize with other people. It has been suspected that altru
TechnologyJuly 12, 2012
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Ancient turtle was round like a truck tire
This photo is not directly related to this story. (AP)A turtle that lived 60 million years ago in what is now northwestern South America was nearly round with a shell the size of a big truck tire, scientists say.Paleontologists at the Smithsonian Tropical Research Institute in Panama and colleagues at North Carolina State University and the Florida Museum of Natural History discovered the new sp
TechnologyJuly 12, 2012
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Having slimmer friends may lead to weight loss
You are more likely to gain weight when your friends around you are heavier than you, according to a recent study conducted in Chicago.There is a high probability of gaining weight if students have friends who are heavier than them. On the other hand, students are likely to lose weight if their friends around them are slimmer than they are, according to Dr. David Shoham, an assistant professor in the Department of Preventive Medicine & Epidemiology of Loyola University Chicago Stritch School of
TechnologyJuly 12, 2012
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Yoga teacher fired after glare at Facebook worker
Looks may not kill, but they can get you fired.That's what a Northern California yoga instructor found after leading sessions at Facebook's Menlo Park campus.The instructor, Alice Van Ness, said she got fired after she glared at a Facebook employee who texted during a class in June."The whole point for most people going to yoga is that it's disconnecting from the outside world," said Van Ness, a 3
IndustryJuly 12, 2012