Most Popular
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Yoon's approval rating plunges to all-time low
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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S. Korea votes in favor of Palestinian bid for UN membership
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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[Graphic News] French bulldog most popular breed in US, Maltese most popular in Korea
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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Korea Herald launches Android application
The Korea Herald, the country’s top English-language newspaper in offline and online circulation, launched a new application for Android smartphones on Tuesday.The app offers the e-paper, real-time news and English language education content including video lectures by popular English teacher Lee Bo-young. The app also features translations of selected Korea Herald articles and audio narration.Potential subscribers can sample the service with a free trial before purchase.The app, created using t
TechnologyJuly 8, 2012
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Firms grapple to secure cash amid uncertainties
More and more local enterprises are actively liquidating their assets to secure cash as much as possible, as economic uncertainties drag on from the eurozone debt crisis.According to the Financial Supervisory Service, the amount of assets Korean firms sold during the first half nearly doubled from the previous year.The regulatory data showed that local firms sold a total of 780.7 billion won ($690 million) worth of tangible assets in the six-month period, compared with 404.8 billion won over the
July 8, 2012
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Sales of Hyundai-Kia cars in Britain surge 16.6% in H1
Sales of cars made by South Korea’s Hyundai Motor Co. and Kia Motors Corp. surged 16.6 percent on-year in the first half of 2012 in Britain, due to the popularity of new models, company sources Sunday.Sources said data by the U.K.’s Society of Motor Manufacturers and Traders, showed combined sales reaching 68,646 units in the six-month period, with the two companies’ market share hitting 6.5 percent for a gain of 0.8 percentage point from the year before.Hyundai and Kia are flagship companies of
IndustryJuly 8, 2012
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Franchise industry expects tough times
South Korea’s franchise industry is bracing for tough times in the second half of this year mainly due to a slowdown in economic growth, a corporate poll showed Sunday.The survey conducted by the Korea Chamber of Commerce and Industry on 300 franchise organizations showed the business forecast index for the six-month period hitting just 73, which is far below the break-even 100-point mark. An index reading below 100 means pessimists outnumber optimists in terms of future outlook.“The weak number
IndustryJuly 8, 2012
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U.S., Japanese firms tap ‘wearable computing’
A new IT platform called “wearable computing,” which allows users to perform computer functions via the use of high-tech products such as glasses, is drawing close attention in the global tech industry. These products are capable of integrating graphics and other sensory information, or computer-generated reality, directly into the eyes of users, creating an overlap between the “real” world and a “computer-generated” or virtual world. Google co-founder Sergey Brin displayed a type of augmented r
TechnologyJuly 8, 2012
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Ministry poised to tax religious groups
Religious leaders prefer voluntary payment to binding income taxesThe Ministry of Strategy and Finance is poised to propose a bill on the taxation of religious groups as part of the 2012 Tax Law amendment to be made on Aug. 8. Aimed at ensuring the equal application of income taxes, the bill would impose income tax on Korean religious societies that have been exempt since the nation’s foundation. According to ministry officials, the bill will be included either in this year’s revision of the Tax
July 8, 2012
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North Korean economy logs first growth in 3 years in 2011
The North Korean economy is believed to have marginally grown last year after contracting for two straight years on increased agricultural production, South Korea’s central bank said Sunday.The Bank of Korea estimated that the communist country’s economy grew 0.8 percent on-year in 2011, compared with a 0.5 percent contraction a year earlier. The 2011 data contrasted with a 3.6 percent expansion of the South Korean economy.The South Korean central bank had earlier estimated that the North’s econ
July 8, 2012
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Seoul stocks may be affected by BOK’s rate decision
South Korean stocks will be influenced by the upcoming Bank of Korea meeting that sets the country’s key interest rate, and other domestic and overseas economic developments, local analysts said Saturday.The country’s key stock index, the KOSPI, closed at 1,858.2 on Friday, a gain of 0.8 percent from the week before.The modest gain came about after leaders at the European Union summit agreed on a plan to alleviate financial market jitters, and both the United States and China announced new stimu
July 8, 2012
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U.S. court rejects Samsung’s call for stay on Galaxy Tab ban
A U.S. appeals court on Friday rejected Samsung Electronics Co.’s request to allow the sales of its tablet computer until its patent dispute with Apple Inc. is concluded, sources said Friday.The U.S. Court of Appeals for the Federal Circuit said the injunction imposed by a lower California court remains binding and that the South Korean tech giant cannot sell its Galaxy Tab 10.1 in the country until its legal dispute with Apple is resolved.The District Court of Northern California on June 26 acc
TechnologyJuly 8, 2012
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Fitch to hold meeting with Korean officials
Global credit appraiser Fitch Ratings will send its officials to South Korea this week for an annual meeting with the nation’s key economic and financial policymakers, the finance ministry said Sunday.The delegation led by Andrew Colquhoun, head of its Asia-Pacific sovereign team, is scheduled to start the three-day talks on Tuesday, according to the Ministry of Strategy and Finance.During the visit, the delegation will have talks with officials from the finance ministry, the Bank of Korea, the
July 8, 2012
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Korea, Bolivia set up joint lithium development venture
South Korea’s state-run mineral development corporation set up a joint venture with its Bolivian counterpart to develop lithium in the South American country, sources said Friday.Seoul’s embassy in La Paz said a consortium made up of Korea Resources Corp. and POSCO, South Korea’s leading steelmaker, signed a deal to create a lithium venture with Comibol, Bolivia’s mineral development corporation.Under the agreement reached Thursday, the new company will make anodes and cathodes for electric vehi
IndustryJuly 8, 2012
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SK fined for unfair intra-group deals
Group denies FTC accusation involving SK C&CThe nation’s antitrust watchdog said Sunday that it has fined seven business units in SK Group 34.6 billion won ($30.3 million) for unfairly supporting another IT outsourcing firm, SK C&C, whose largest shareholder is chairman Chey Tae-won.It is common in Korea for major conglomerates to have their own system integration affiliate be responsible for the management and operation of the computer systems of the entire group. According to the Fair Trade Co
IndustryJuly 8, 2012
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Insurance firms probed over premium hikes
FSS investigating risk calculation in medical insurance premiumsThe Financial Supervisory Service is set to conduct a investigation into the non-life insurance sector amid allegations that some companies improperly calculated risk for medical insurance premiums.Several insurers have recently raised fees by more than 50 percent, arguing that risk factors increased, according to regulatory officials. The regulator’s probe will target eight insurance firms selling medical insurance products. They a
July 8, 2012
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BMW Korea ups after-sales service
BMW Group Korea, Korea’s No. 1 imported car brand, aims to take the lead in after-sales service here, increasing the number of maintenance shops and adopting an ombudsman system for the first time in the industry. “We wondered why our service could not meet the expectations of premium car drivers. And we have decided to adopt a set of new programs to resolve doubts of our customers,” said Kim Hyo-joon, BMW Korea president, in a press meeting on Thursday. As part of the efforts, the Korean opera
MobilityJuly 8, 2012
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GM chief Akerson worried about second half
General Motors, the world’s largest automaker, is worried that Europe’s economic weakness will affect the second half of 2012, the company’s top executive said. “You can see softness in Europe,” Chief Executive Officer Dan Akerson told an audience at the Executives’ Club of Chicago. “If there were a meltdown in the euro, which I don’t think there will be, I think it would be pretty impactful on, certainly, the United States” and China. Akerson, who oversaw GM regaining its title of world’s large
MobilityJuly 8, 2012
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Nissan GT-R an ‘everyday supercar’
Chief engineer Mizuno shares concept and vision of company’s flagship sports carThe Nissan GT-R is designed to become an everyday supercar for everyone, said Kazutoshi Mizuno, who is affectionately called the “father” of the Japanese carmaker’s flagship sports car, in Seoul last week. “While other supercars are sold in a closed market for some healthy, rich people who have several cars, GT-R is targeting an open market for everyone,” said the chief vehicle engineer and chief product specialist f
MobilityJuly 8, 2012
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SK slapped with 34.6 bln won fine for 'intra-group' deals
Seven affiliates of SK, the country's No. 3 conglomerate, have been fined a combined 34.6 billion won ($30.4 million) for unfairly supporting another group affiliate, the country's corporate watchdog said Sunday.The Fair Trade Commission (FTC) said it has imposed the fine on group affiliates, including top mobile carrier SK Telecom Co. and leading oil refiner SK Innovation Co., for paying higher-t
IndustryJuly 8, 2012
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Scientist: Aliens may be big jellyfish
A British space expert says alien life forms might be large jellyfish-like creatures with organs that ingest atmospheric chemicals for nutrition.Maggie Aderin-Pocock, who works for European space company Astrium, described her vision of what might have evolved on the Saturnian moon Titan for Science Month, a project by the TV channel Eden, the Belfast Telegraph reported. She also worked with an artist to visualize the aliens.She said she was inspired partly by studying ocean life forms.“Our imag
TechnologyJuly 8, 2012
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Coca-Cola introduces ‘eco-friendly’ pouches for drink
Coca-Cola has announced that the company will start selling drinks in eco-friendly packaging as a low-cost alternative to cans and bottles.The biodegradable bags were inspired by South American consumers who have their bottles of Coca-Cola pored into plastic bags so that they do not have to pay a deposit on the returnable glass bottles.The company noticed this trend, which originated in El Salvador, and decided to make their own to recover branding. The plastic bag keeps the iconic bottle shape
IndustryJuly 8, 2012
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‘Irreplaceable’ dinosaur fossil destroyed
An “irreplaceable” dinosaur fossil destroyed at a dig in western Canada is the fourth fossil to be damaged in the last two months, a paleontologist says.The skeleton of a duck-billed Hadrosaur was discovered in Alberta June 15 by paleontologist Phil Bell and a team from the University of Alberta, CBC News reported.At that time, the fossil was partially uncovered by the team and then reburied so it could be removed from the site in mid-July.When Bell visited the site Thursday, he discovered the 3
TechnologyJuly 8, 2012