Most Popular
-
1
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
2
New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
-
3
Tensions heighten ahead of first president-opposition chief meeting
-
4
Seoul to provide housing subsidy to married couples with newborns
-
5
[Weekender] How DDP emerged as an icon of Seoul
-
6
Rapper jailed after public street fight with another rapper
-
7
Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
-
8
Woman gets suspended term for injuring boyfriend with knife
-
9
[KH Explains] No more 'Michael' at Kakao Games
-
10
NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
-
Shares rise on better-than-expected data
South Korean stocks jumped 1.54 percent on Friday as investors were relieved by China’s not-so-bad economic data and optimistic about a further rebound, analysts said. The local currency gained ground against the U.S. dollar.The Korea Composite Stock Price Index climbed 27.5 points to finish at 1,812.89, snapping a five-day decline. The main bourse plunged more than 40 points during the previous session.Trading volume was moderate at 344.2 million shares worth 4.67 trillion won ($4.06 billion),
July 13, 2012
-
Financial, manufacturing industries hit by strikes
Two major labor unions, the nation’s largest labor unions in their sectors, said they would strike in July. The Korean Metal Workers’ Union, the nation’s largest industrial union, has set up a nationwide one-day strike calling for better working conditions, members said Thursday. The move comes four years after the Korean Metal Workers’ Union has staged a collective labor action 2008. The union estimates about 130,000 workers from 211 companies will participate in the strike, making it the large
IndustryJuly 13, 2012
-
FSC sucked into savings bank scandal
Senior official at financial regulator accused of influence peddling on behalf of SolomonProsecutors launched a full investigation into financial authorities in relation to corruption at debt-saddled savings banks. The joint investigation looking into savings banks’ corruptions, carried out by prosecutors and officials from finance-related government organizations, investigated a senior official at the Financial Services Commission for two days starting Wednesday on bribery charges. The official
July 13, 2012
-
Seoul shares open higher on technical gains
South Korean stocks started higher on Friday, led by gains in blue-chip shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 9.16 points, or 0.51 percent, to 1,794.55 in the first 15 minutes of trading.On Thursday, the KOSPI dropped 2.24 percent to close at 1,785.39 points on growing concerns over a slowdown in Asia's fourth-largest economy.Most shares gained groun
July 13, 2012
-
BOK cuts 2012 growth outlook to 3 percent
South Korea's central bank on Friday sharply cut its 2012 economic growth outlook to 3 percent as exports are feared to lose steam amid the protracted eurozone debt crisis.The downward revision by the Bank of Korea (BOK) is compared with its earlier estimate of 3.5 percent made in April. In the second half, Asia's fourth-largest economy is expected to grow 3.2 percent, picking up from a 2.7 percen
July 13, 2012
-
BOK cuts key rate to 3.0%
Korea’s central bank cut its key interest rate for the first time in more than three years in what it said is a pre-emptive response to growing economic uncertainties in the wake of the persistent eurozone debt crisis.The Bank of Korea’s monetary policy committee said it decided to cut the key interest rate from 3.25 percent to 3 percent on Thursday. It is the first time that the BOK has lowered the key interest rate since February 2009.The change is an end to the BOK’s freeze of the key policy
July 12, 2012
-
S. Korean team develops substance that blocks spread of cancer
A team of South Korean scientists has developed a new substance that helps track and even prevent the spread of cancer cells from a primary tumor to adjacent organs, the science ministry said Thursday.The team, led by Prof. Lee Seong-wook of Dankook University, has developed an RNA aptamer that binds to colorectal cancer cells in a peculiar way that makes the cancer cells easily identifiable, according to the Ministry of Education, Science and Technology.Easily detectable cancer cells in turn ma
TechnologyJuly 12, 2012
-
Philip Morris’ new menthol-taste product
Philip Morris International Korea added a new menthol-scented product, Parliament Hybrid 2 in 1, to its line-up of on Thursday. The new product has a special capsule inserted within each filter which, once broken, releases a taste of menthol. Smokers can twist-and-break the inserted menthol filter for stronger menthol taste, whereas those who prefer classic cigarettes can leave the capsule unbroken, the company said. Parliament Hybrid 2 in 1 is “rich both in the classical taste of cigarette and
July 12, 2012
-
Metal workers to stage four-hour strike Friday
An estimated 130,000 workers at 211 companies nationwide will stage a one-day strike on Friday, complying with an umbrella labor group’s call for improved working conditions, labor unionists said Thursday.The 211 firms, which include the nation’s top automakers ― Hyundai Motor Co., Kia Motors Corp., and GM Korea Co. ― are all affiliated with the country’s largest industrial union, the Korean Metal Workers’ Union, which has about 170,0000 workers in the local automobile, steel, machinery and ship
July 12, 2012
-
Kakao, Samsung Galaxy top IT search on Google
“Kakao Talk” was the most popular information and technology search term on Google in the first half of this year, said Google Korea.Korea’s mobile messenger, used by some 50 million people worldwide, recently made headlines over the announcement of its free mobile Voice over Internet Protocol service Voice Talk.This has led to escalating tension between Kakao and two giant mobile carriers ― SK Telecom and KT, further helping Kakao Talk to be the most searched term on Google, the Korean subsidia
TechnologyJuly 12, 2012
-
Hanbul Motor introduces second model of DS line
Hanbul Motors, the official importer and distributor of Citroen vehicles, unveiled the DS4, the second of its DS line, on Thursday in Seoul. The winner of “the Most Beautiful Car of the Year” by Eurosport Magazine in 2011, Citroen DS4 combines a coupe style with two-plus-two door practicality, and offers three full-sized rear seats, accessed by rear doors with hidden handles that are seamlessly integrated into its design. The new DS model also provides a capacious 370-liter boot and a host of c
MobilityJuly 12, 2012
-
Samsung to showcase Galaxy Note 2 ahead of IFA 2012
Samsung Electronics is most likely to showcase its new wireless gadget Galaxy Note 2 at an event prior to the IFA electronics trade show in Berlin later in August.According to industry sources, the world’s top smartphone maker is expected to hold its “Mobile Unpack” event with its mobile chief Shin Jong-kyun present at its press event on Aug. 30. IFA runs from Aug. 31-Sept. 5.The company has yet to release its final showcase date of the gadget which is categorized to be between a smartphone and
IndustryJuly 12, 2012
-
Hyundai Motor’s 6-month sales rise 2.6% in China
HONG KONG (Yonhap News) ― Hyundai Motor Co. sold more than 370,000 vehicles in China in the first six months of this year, market data showed Thursday, showing a steady performance by South Korea’s largest automaker in the world’s largest auto market. The China Passenger Car Association, which provides automotive statistics every month, said Hyundai Motor sold 372,801 units in China during the January-June period, up 2.6 percent from a year earlier.In the month of June, Hyundai Motor sold 58,150
MobilityJuly 12, 2012
-
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
-
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
-
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
-
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
-
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
-
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
-
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