Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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[KH Explains] Why Korea's so tough on short selling
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US military commander in S. Korea during Gwangju uprising dies
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Actors involved in past controversies return first via streaming service originals
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[Photo News] Seoul seeks 'best sleeper'
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Citigroup’s 200th anniv. hailed in Korea celebrations
Citi Korea, a local subsidiary of the global financial services giant Citigroup Inc., marked the bicentennial anniversary of its parent company with an array of service projects on Saturday. Under the slogan “Green Citi, Clean City,” over 4,300 volunteers affiliated with Citi Korea participated in service projects such as mural painting, weeding and a financial services education program for youth. Other volunteer activities included a free meal service program called “Baffor” and a cleanup camp
June 17, 2012
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Airliners need focus on biofuels for growth
Renewable fuels show long-term promise in curbing carbon emissions, says Air France execThe world’s commercial airline industry needs to research and promote renewable sources of energy like biofuels, or it faces a risk of limited growth in the future due to the expanding carbon footprint of air travel, said Air France’s Vice President of Environment Pierre Albano. “Unless we reduce air pollution, (airlines) will not be allowed to grow anymore,” he said in an interview with The Korea Herald in S
June 17, 2012
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Renault Samsung seeks image upgrade with electric SM3
Times have been tough for Renault Samsung Motors, the maker of SM series sedans ― SM3, SM5, SM7 and QM5.The automaker sold 246,959 cars last year, 9 percent less than the previous year. It delivered 109,221 units in Korea and 137,738 overseas.In the first quarter of this year, the company suffered the biggest drop in year-on-year sales among the five major players, including Hyundai, Kia, GM Korea and Ssangyong. In order to give fresh momentum to its sluggish domestic sales, RSM is now pinning i
MobilityJune 17, 2012
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Fiat cuts spending as Peugeot sells assets as sales slump
Fiat SpA will cut investments in Europe by 500 million euros ($632 million) and PSA Peugeot Citroen plans to sell a larger stake in its trucking unit as the region’s automakers grapple with an extended market slump.“The capital expenditure reduction is about half a billion euros from what we planned last year for 2012 in Europe,” chief executive officer Sergio Marchionne said late Thursday in an interview in Madrid, where he’s heading the annual gathering of the European Automobile Manufacturers
MobilityJune 17, 2012
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Blizzard faces growing outcry against Diablo 3 over poor service: reports
Blizzard Entertainment is facing growing criticism and outcry from fans and industry experts against its latest hit game Diablo 3 for failing to live up to its proposed expectations, according to various media reports.Failure of smooth data connections and repeated error messages while logging in or playing the game compelled Korean users, game cafe operators and regulators to take the matter int
TechnologyJune 17, 2012
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Microsoft said to agree to buy Yammer for $1.2 billion
Microsoft Corp., the world’s largest software maker, has agreed to purchase Yammer Inc., operator of a social network for businesses, for $1.2 billion, said a person familiar with the matter.The deal is expected to be announced by the end of June, said the person, who asked not to be identified because the negotiations are private. Dee Anna McPherson, a spokeswoman for Yammer, declined to comment
TechnologyJune 17, 2012
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Genetic factors linked to gay men
(MCT)Researchers in Italy suggest sexually antagonistic genetic factors in mothers may promote homosexuality in men and fertility in female relatives.However, it is not clear whether and how the genetic factors are expressed to simultaneously induce homosexuality in men and increased fertility in their mothers and maternal aunts, the researchers said.Andrea Camperio Ciani of the University of Pado
TechnologyJune 17, 2012
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Shares fall on eurozone uncertainties
Seoul shares fell 0.71 percent on Friday in the face of rising European uncertainties ahead of Greece’s critical elections and mixed U.S. economic data, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved down 13.32 points to 1,858.16 after a choppy session. Trading volume was light at 4.26 million shares worth 4.46 trillion won ($3.83 billion), with losers outpacing gainers 486 to 344.“Investor sentiment was dented by mounting eur
IndustryJune 15, 2012
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FTC scrutinizes celebrities’ online malls
The nation’s antitrust watchdog is considering slapping fines on Internet shopping malls run by celebrities for unfair trade practices.The Fair Trade Commission, which did not release the companies’ names, began looking into the shopping sites’ refund policies upon consumer complaints that they refused to provide refunds for clothing, according to sources at the commission.“We had to launch a probe as there were so many complaints from consumers who were disgruntled about the shopping sites’ ref
IndustryJune 15, 2012
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BOK head warns against bank loan defaults
Korean lenders need to better manage their loans and guard against a rise in loan defaults, the top central banker said Friday.In a meeting with presidents of commercial banks, Bank of Korea Governor Kim Choong-soo said loan delinquency rates have accelerated this year.“Such trends are raising concerns,” he stressed, pointing out that inability to pay back loans can pose serious challenges for local lenders and the economy as a whole. The remarks came as household loan delinquency rates reached
June 15, 2012
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Hyundai Oilbank cancels IPO plan on uncertainties
Hyundai Oilbank has pulled out of its plans to carry out an initial public offering on the Korea Exchange, citing economic uncertainties at home and abroad.“We’ve decided to withdraw from the plan in the wake of the eurozone fiscal crisis and worsening investor sentiment on the local stock market,” a company spokesman said.The company plans to push for the listing again when it finds optimum timing later.Hyundai Oilbank had planned to complete the IPO process during the first half of the year.An
IndustryJune 15, 2012
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State-run oil firm chief steps down
Korea National Oil Corp. CEO Kang Young-won stepped down from his post on Friday prior to the expected completion of his tenure that ends on Aug. 18.It was not known why he resigned earlier than scheduled, but the move came after the Finance Ministry recently released its evaluation of public corporations’ performances last year. The outgoing CEO received a B, the third-highest rating on a scale of five while the company received a D rating. Kang had expressed his willingness to quit after news
June 15, 2012
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Seoul takes steps to lower prices of imported cosmetics
The government said on Friday it will improve the distribution system of imported cosmetics and tighten monitoring of unfair trade practices and deceptive advertising to lower their prices.Prices of imported beauty products remained high despite Korea’s free trade agreements with the European Union and the U.S. which went into effect in July last year and March this year, respectively.“We will reduce the excessive retail margins incurred by exclusive imports and sales and provide consumers with
IndustryJune 15, 2012
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Telecoms-Kakao conflict escalates over free call
S&P lowers KT’s rating to negative, citing threat from mVoIP service and other revenue sourcesLocal telecom giants and Kakao, well-known for its free mobile messenger service, have expanded their battle front amid the venture firm’s new allegation that the mobile carriers purposely downgraded the quality of its voice call service.Earlier on Thursday, Kakao’s chief executive Lee Sir-goo said that the country’s three telecom companies -- SK Telecom, KT and LG Uplus -- are lowering the voice qualit
IndustryJune 15, 2012
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U.K. gives new details of mass surveillance plan
U.K. authorities are revealing new details of an ambitious bill which would track electronic conversations of every single U.K. resident. The proposed mass surveillance law would collect detailed information about the private communications of millions of Britons, a step the government insists is necessary to fight terrorism and crime.Home Secretary Theresa May says the program will not snoop on t
TechnologyJune 15, 2012
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Internet led to global 'explosion' of fake drugs
The rapid growth of Internet commerce has led to an explosion of counterfeit drugs sold around the world, with China the biggest source of fake medicines, pharmaceutical experts said Thursday.The illicit trade is now believed to be worth around 75 billion dollars globally, with criminal gangs increasingly using the web to move their products across borders, said Scott Davis, Pfizer's top security
TechnologyJune 15, 2012
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U.S. urges markets to pull shellfish from Korea
The Food and Drug Administration is urging food distributors, retailers and food service vendors to remove from the market all shellfish imported from South Korea because of possible contamination with human waste and norovirus.The decision follows an FDA evaluation that determined that the Korean Shellfish Sanitation program no longer meets adequate sanitation controls. The federal agency is in o
IndustryJune 15, 2012
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Lack of sleep makes it hard to resist junk food
U.S. researchers found that sleep-deprived people have a bigger possibility of choosing unhealthy food for their meals, which could lead to obesity.Lead author Stephanie Greer, a graduate student at the University of California, Berkeley, and his team conducted a study on 23 healthy adults to see how poor sleep affects food choices.In the study, researchers divided participants into two groups, with one restricted to have only four hours sleep and the other allowed to have nine hours of sleep fo
TechnologyJune 15, 2012
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Seoul shares open lower on persistent eurozone woes
South Korean stocks opened lower Friday in the face of mounting eurozone uncertainties and a weaker-than-expected U.S. job report, analysts said.The Korea Composite Stock Price Index (KOSPI) fell 0.57 percent, or 10.69 points, to 1,860.79 in the first 15 minutes of trading.Market bellwether Samsung Electronics lost 2.14 percent, with top automaker Hyundai Motor also giving up 0.21 percent.The loca
June 15, 2012
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S. Korea's import price gain accelerates in May
South Korea's import prices rose at a faster pace in May than a month earlier mainly due to increased costs of raw minerals and capital goods, the central bank said Friday.In local currency terms, import prices climbed 2.1 percent on-year in May, up from a gain of 1.7 percent in April, according to the Bank of Korea (BOK).Last month's increase comes after price gains fell to their lowest figure in
June 15, 2012