Most Popular
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
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Woori Financial warns legal action against name-stealing lenders
Woori Financial Group said Friday it would take stern legal action against illegal money lenders that use the name “Woori.”The nation’s largest financial group by assets last month filed criminal charges against an illegal lender that used Woori’s name and logo for violation of trademark laws to the Seoul Central Prosecutors’ Office.The unregistered lender which had been running its business through a website set up under the name “Woori Financial” shut down the website after the financial group
June 1, 2012
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Korea’s consumer inflation holds steady at 2.5% in May
South Korea’s consumer prices grew at the same pace in May compared to a year earlier amid the government’s push to tame inflationary pressure, a report showed Friday.According to the report by Statistics Korea, the country’s consumer price index rose 2.5 percent in May from a year earlier, unchanged from a 2.5 percent gain tallied in April. The index rose 0.2 percent from a month ago.May’s reading marks the third month in a row that inflation stood in the 2 percent range, down from 4 percent gr
June 1, 2012
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Shares fall on Europe woes
South Korean stocks fell 0.49 percent Friday as investor sentiment was dampened by persistent European Union’s fiscal uncertainties, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index gave up 8.96 points, to 1,834.51. Trading volume was light at 322 million shares worth 3.48 trillion won ($2.95 billion), with losers outpacing gainers 478 to 351.The local currency finished at 1,177.7 won to the U.S. greenback, up 2.6 won from Thursday’s
June 1, 2012
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Samsung sells over 50m Galaxy S, S2 phones
Firm aims to solidify smartphone lead with new mobile platformSamsung Electronics said Friday that the firm had sold more than 50 million units of its flagship smartphones Galaxy S and Galaxy S2 in the global market.The world’s top smartphone maker said the sales of its Galaxy S and Galaxy S2 topped 24 million and 28 million units, respectively, as of June 1. Over 7 million units of the firm’s 5.3-inch display Galaxy Note have also been rolled out globally, it added.Samsung has been striving to
IndustryJune 1, 2012
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Major builders face sanctions for collusion on river projects
The antitrust regulator is set to take disciplinary action against a group of major builders for cartel activities during their participation in the Lee Myung-bak administration-led project to refurbish the country’s four major rivers.The Fair Trade Commission is considering fines for about 20 construction companies and filing a complaint with the prosecution against some executives of several large firms.It is alleged that some of the 20 companies took the initiative in bidding-price rigging or
IndustryJune 1, 2012
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Ho-Am Foundation awards corporate excellence
Five people received awards from the Ho-Am Foundation in Seoul on Friday, at an event attended by 550 people including Samsung Electronics chairman Lee Kun-hee.At the event marking its 22nd anniversary, the prizes were given to Kim Min-hyong in the field of science, Hyeon Taeg-hwan in engineering, Jung Jae-ung in medicine, Chin Un-suk in arts and Lee Dong-han in community service.The awardees each received 300 million won ($265,000) in prize money and pure gold medals. “Talented people are the d
IndustryJune 1, 2012
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Carmakers see domestic sales inch up
Five players strive to attract consumers at home amid ongoing weak demandAutomakers saw their vehicle sales at home inch up in May on a year-on-year basis after several months of weak domestic demand.Hyundai Motor said Friday that it posted sales of 58,050 units in the local market, up 0.6 percent from 57,694 units a year earlier.It was the first time the nation’s largest automaker reported an increase in year-on-year sales at home since last February.Excluding February, Hyundai Motor’s domestic
MobilityJune 1, 2012
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Arctic ice sheets may provide clues in searching for alien life
U.S. scientists are studying sheets Arctic ice sheets, looking for evidence that can help them find alien microorganisms that may have evolved in the Solar System.A group of researchers, led by environmental biogeochemist Jeffrey White from Indiana University, looked at glaciers in Greenland to study the methane released by methanogenic microbes. By analyzing the methane emissions, White and his colleagues found out that a variety of microbes have emitted the methane discovered at the area, indi
TechnologyJune 1, 2012
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Porn may lead to unhappy relationships
A study has suggested that frequent porn use by men can hurt their romantic partners’ self esteem as well as increase disatisfaction in their relationships, Livescience.com reported.The research by Destin Stewart, a clinical psychology intern at the University of Florida, sought to clarify the anecdotal theory that porn can harm relationships. Stewart asked 308 heterosexual college women, aged 18-29 years old, to fill out questionnaires about their current partner‘s porn use as well as their rel
TechnologyJune 1, 2012
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Future galaxy collision predicted
U.S. astronomers are forecasting the Milky Way will have a violent collision with the neighboring Andromeda galaxy in about 4 billion years.The encounter will result in a major makeover for our galaxy, NASA astronomers said, that will see the sun flung into a new area of the Milky Way. However, Earth and the rest of the solar system will be in no danger of being destroyed, a NASA release said Thur
TechnologyJune 1, 2012
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Facebook introduces ‘promoted posts’
Facebook has launched a new service called promoted posts which guarantees exposure of posts at a cost.The feature, recently being tested in New Zealand, was officially introduced Thursday on the Facebook site.“Promoted posts help increase the people you reach for any eligible post,” said a Facebook staffer on the video. “It’s an easy and fast way to reach more of the people that Like your page and your friends.”The cost of the promoted posts ranges from $5 ensuring 700 views to $20 reaching 2
IndustryJune 1, 2012
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S. Korea's trade surplus widens to US$2.4 bln in May
South Korea's trade surplus widened slightly in May from the previous month as exports shrank at a slower pace than imports, a government report showed Friday.The country's trade balance was US$2.4 billion in the black last month, up from the $2.1 billion surplus tallied in April, according to the report by the Ministry of Knowledge Economy. Last month marked the fourth month in a row that the cou
June 1, 2012
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For some, exercise can increase health risk
Exercise may increase heart risk for some, a study has found.Scientists analyzed data from six exercise studies including 1,687 people to find that close to 10 percent showed worse blood pressure, insulin levels, HDL cholesterol or triglycerides, all of which are related to heart disease.The direct cause, however, remains unknown.“It is bizarre,” said Claude Bouchard, lead author of the paper and a professor of genetics at Louisiana State University.Authors of the study also warned that the stud
TechnologyJune 1, 2012
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Baby bird found with 2 heads, 3 beaks
(UPI)A Massachusetts woman said she investigated bird sounds in her yard and discovered a baby cardinal with two heads and three beaks.April Britt of Northampton said she and her husband followed the sounds of squawking birds in their back yard to a tree where they discovered the baby female cardinal with the unusual deformities, WGGB-TV, Springfield, reported Thursday."My husband says, 'Oh my God
TechnologyJune 1, 2012
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Korea faced with W342tr pension liability
National debt is estimated to surpass 774 trillion won when it includes liabilities on pensions provided to former and incumbent civil servants and soldiers, according to a government report.Among the debt, pension liability turned out to be 342 trillion won. It takes into account a calculated amount of pension that should be given to civil servants, soldiers and current workers in their retirement. The figure grew 36 percent from last year and took up 27.6 percent of the GDP. The Finance Minist
May 31, 2012
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Google Korea faces stern antitrust sanction
The Fair Trade Commission investigated Google Korea this week by sending its inspectors to the headquarters, marking the fourth antitrust investigation including a raid last September.While the regulator’s raid on Google’s Korean unit in southern Seoul was the result of a joint-complaint by local Internet portals it is alleged the U.S.-based tech giant hindered the FTC from conducting an ordinary probe.The allegation of obstructing civil servants’ on-the-spot investigation could yield an intensi
IndustryMay 31, 2012
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Hyundai downplays reports about anti-rust coating
Hyundai Motor Group on Thursday downplayed news reports that the Korean auto giant had discriminated against local consumers by providing zinc coatings only to vehicles sold for overseas markets. Hyundai, which owns Hyundai Motor and Kia Motors, said that it has adopted the protective coating on more than 70 percent of cars sold here since late 2006, a similar level as that of the U.S. and Europe. “We have applied the zinc coatings to more than 70 percent of medium-sized cars such as Sonata and
IndustryMay 31, 2012
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Volkswagen to recall 1,100 cars here over fuel filters
German automaker Volkswagen AG will recall 1,111 units of its popular CC four-door sedan and Tiguan compact sport utility vehicle to repair faulty fuel filters, the South Korean government said Thursday.Subject to the recall are 729 2.0-liter turbo diesel CCs produced between March 31 and Aug. 25 of last year and sold through Volkswagen’s local distributor. In addition, 382 Tiguans with the same engine made from March 25 through Sept. 20 will be recalled, the Ministry of Land, Transport and Mari
MobilityMay 31, 2012
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Korea’s global competitiveness ranking holds steady for 2012
South Korea’s global competitiveness ranking remains unchanged in 2012 from a year earlier despite persistent economic uncertainties, an international institute said Thursday.According to the 2012 World Competitiveness Yearbook unveiled by the International Management Development Institute, South Korea ranked 22nd in competitiveness among the 59 countries surveyed.IMD is a Switzerland-based institute that releases competitiveness rankings every year based on countries’ economic achievements, inf
May 31, 2012
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SKT, HMH form global smart-learning partnership
SK Telecom said Thursday that it will target the global smart-learning market together with U.S.-based global learning company Houghton Mifflin Harcourt.The two firms signed an agreement at SKT’s headquarters in downtown Seoul on the same day to jointly launch the smart-learning project.The event took place as the country’s telecom giant seeks a future growth engine to target the overseas market, much bigger in size than the increasingly saturated Korean market.As a start, SKT previously introdu
IndustryMay 31, 2012