Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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KT launches new mobile plans for foreign residents
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Peruvian president visits SK complex
SK Group said Friday that its chairman Chey Tae-won met Peruvian President Ollanta Humala at SK Energy’s oil refinery complex in the southeastern coastal city of Ulsan. The group said that the visiting president discussed future partnerships with the nation’s energy giant in resource development and other energy businesses. “Since its first participation in developing an oil field, Block 8, in 1996, SK and Peru have maintained a partnership for 17 years,” Chey said at the meeting. “We expect to
IndustryMay 11, 2012
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Futuristic cars to hit Busan Motor Show
Four models to be unveiled in the biennial event for first time in AsiaThe sixth Busan International Motor Show, which will kick off on May 24, will feature futuristic concept cars with state-of-the-art technologies, carmakers said Friday.Some of the concept cars ― prototypes that give consumers a peek at future designs ― will be showcased for the first time in Asia via the 11-day auto fair at the BEXCO in Busan, they said.Hyundai Motor will unveil several futuristic models, such as the HND-7/He
MobilityMay 11, 2012
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Yeosu Expo offers eye-catching events, performances
YEOSU, South Jeolla Province -- The Expo 2012 Yeosu has arranged several eye-catching events and performances throughout it’s run. During the three-month Expo, various concerts, street performances, water shows and other cultural spectacles performed by artists from here and abroad will be staged. The organizers said the Expo offers about 90 cultural events and performances every day until the maritime festival ends on Aug. 12Big Star ShowThe Big Star Show happens every weekend and includes per
May 11, 2012
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IT services make Expo convenient
YEOSU, South Jeolla Province ― The Yeosu Expo organizing committee is looking to technology to make visitors feel comfortable during their visit. Committee officials said they plan to provide a multitude of cutting-edge IT-generated accommodations unprecedented by any pervious international events of a similar scale. They said that smartphone apps, automatic reservation kiosks and radio frequency identification chips will make things easier and quicker for visitors time, while maximizing the fun
May 11, 2012
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Company pavilions open arms to visitors
Seven Korean conglomerates run pavilions with distinctive themes, featuresDomestic large companies are getting busy to introduce their pavilions to the visitors as the Yeosu Expo is scheduled to kick off on Saturday.Seven major companies in Korea ― Hyundai Motor, POSCO, SK Telecom, Samsung, LG, GS Caltex and Lotte ― have completed their pavilions to open it up for visitors of Expo 2012 Yeosu, which runs from May 12-Aug. 12.The firms will hold briefings for VIP guests to explain the highlights o
IndustryMay 11, 2012
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S. Korea to keep tightened quaratine checks on U.S. beef
South Korea will maintain its tightened quarantine inspections regime on U.S. beef but take no steps to halt imports despite the recent discovery of a mad cow case in the United States, the farm ministry said Friday.The Ministry for Food, Agriculture, Forestry and Fisheries said a nine-person inspection team that checked various cattle and meat packing facilities in the United States concluded the
IndustryMay 11, 2012
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Seoul shares fall 1.43% on lack of leads
South Korean stocks closed 1.43 percent lower Friday on lack of upward momentum and growing European debt concerns, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) lost 27.80 points to 1,917.13, in its third straight session of decline.Trading volume was moderate at 522 million shares worth 4.32 trillion won (US$3.76 billion
May 11, 2012
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S. Korea, Peru to expand industrial, energy cooperation
South Korea and Peru agreed to explore ways to expand industrial and energy cooperation that can benefit both countries, the government said Friday. In a meeting between Knowledge Economy Minister Hong Suk-woo and Jose Luis Silva Martinot, Peru's minister of Foreign Trade and Tourism, the two sides exchanged views on how best to achieve the "comprehensive strategic partnership" arrangement anno
May 11, 2012
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Class action suit against Apple over iPod
Millions of iPod owners may be surprised to learn they're suing Apple, industry analysts said.A lawsuit against Apple by RealNetworks, which developed the Real Player app and the Harmony music service, has been given class-action status U.S. District Court for the Northern District of California, Mashable reported Thursday.Consumers who purchased iPod devices between Sept. 12, 2006, and March 31,
TechnologyMay 11, 2012
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Housing regulations eased in three rich Seoul districts
Package of measures aims to boost sagging property marketThe government announced Thursday that it would lift restrictions on housing transactions in three up-market Seoul districts ― Gangnam, Seocho and Songpa ― in an effort to stimulate the nation’s real estate market.The latest package of measures ― the 17th under the current Lee Myung-bak administration ― removes the last of the nation’s “speculation zones.”In 2003, the most coveted residential area in Seoul was designated an “overheated spe
May 10, 2012
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Dongbu, Homeplus ‘poor’ on shared growth
Five more companies rated at bottom on shared-growth indexSeven big enterprises paid relatively little attention to “shared growth” with subcontractors, according an index released on Thursday by the presidential panel on shared growth.They were Dongbu Corp., Hanjin Heavy Industries & Construction, Hyundai Mipo Dockyard, Homeplus, Hyosung, LG Uplus Corp. and STX Offshore & Shipbuilding, according to the Commission of Shared Growth for Large and Small Companies.In the commission’s first unveiling
IndustryMay 10, 2012
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Korea to grow 3.2% in 2012: KERI
South Korea’s economy is expected to grow 3.2 percent in 2012 in the face of persistent eurozone woes and uncertainties surrounding the U.S. and Chinese markets, a local think tank said Wednesday.The prediction made by the Korea Economic Research Institute is lower than the government’s official growth target of 3.7 percent set for this year, and 3.5 percent growth forecast made by the country’s central bank. The research arm of the Federation of Korean Industries, the leading business lobby, ad
May 10, 2012
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EU woes grip global, Korean economies: Minister Bahk
Growing concern over Europe’s debt problems is fueling global market uncertainties that are affecting South Korea’s economy, a senior economic policymaker said Thursday.In a weekly meeting of top economic officials, Finance Minister Bahk Jae-wan said political developments in some European countries are exerting a negative impact on the international financial market. “Developments are raising market volatility and influencing foreign exchange rates,” he said. He added that a slowdown in China’s
May 10, 2012
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Samsung buys U.S. cloud service provider mSpot
Samsung Electronics Co., the world’s largest mobile phone and memory chip manufacturer, said Thursday that it has acquired a U.S. cloud service provider to strengthen its mobile entertainment business.Samsung said it has taken over California-based mSpot Inc. that provides music, movies and radio content to mobile users. The U.S. company located in Palo Alto also has ties with many major telecommunication service providers in the United States that could benefit Samsung.Samsung said that it has
TechnologyMay 10, 2012
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BOK freezes key rate for 11th month in a row
The Bank of Korea on Thursday froze the benchmark interest rate for May for the 11th consecutive month, as widely expected, citing persistent fiscal woes in Europe and slow economic recovery at home. The BOK monetary policy committee unanimously agreed to keep the key seven-day repurchase rate unchanged at 3.25 percent, BOK governor Kim Choong-soo said. The decision came as the pace of Korea’s economic growth weakened, with consumption and investment dipping while exports maintained sound levels
May 10, 2012
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Samsung to launch ‘premium’ OLED TV in second half
Company executive says OLED TV will be priced at over $9,458Samsung Electronics said Thursday it will launch the 55-inch premium OLED in Korea in the latter half of this year, pricing it at over 10.8 million won (about $9,500).In an event dubbed “2012 Samsung Premium TV Showcase,” the company said it will roll out the premium organic light-emitting diode TV set here and then release it in the U.S. and Europe.“We will launch the OLED TV here within this year,” said Kim Hyun-suk, executive vice pr
IndustryMay 10, 2012
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Carmakers seek tie-ups with IT giants
Partnerships include Hyundai-Samsung, Kia-SKT and Renault-POSCO ICTCarmakers are signing business tie-ups with information and communication technology giants amid growing demand for high-end auto components.Among them are Kia Motors-SK Telecom and Renault Samsung Motors-POSCO ICT. Hyundai Motor and Samsung Electronics have reportedly been in talks for an alliance.Renault Samsung said Thursday that it signed a memorandum of understanding on establishing infrastructure for commercializing electri
MobilityMay 10, 2012
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Shares down on European debt woes
South Korean stocks closed 0.27 percent lower Thursday as election results renewed European debt concerns and caused U.S. stocks to fall in overnight trading, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI lost 5.36 points to 1,944.93, in the second straight session of decline.Trading volume was light at 404 million shares worth 4.36 trillion won ($4.29 billion), with losers outpacing gainers 431 to 389.U.S. stocks, which exert considerable influence on the KO
May 10, 2012
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Willstech offers energy management solutions
Willstech, a privately held Korean tech firm, will provide enterprise energy management software in Korea.The company said in a press release that it has secured a contract with Joulex to launch the private U.S. firm’s energy management system services for Korean businesses.Joulex’s software allows companies to save and efficiently manage energy from the use of various network-connected IT devices, Willstech said.It added that Joulex’s smart energy manager systems can help save up to 40 to 60 pe
TechnologyMay 10, 2012
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Korea Trademark Association, EUCCK oppose ‘plain packaging’
The Intellectual Property Centre at the European Union Chamber of Commerce in Korea expressed deep concern over the New Zealand government’s decision to prohibit the use of trademarks and logos on tobacco packaging. “We would like to call for a careful consideration of the potentially harmful consequences of such a measure,” the center said in a statement. “The IP Center at EUCCK strongly advocates for the full enjoyment and protection of trademarks and other registered intellectual property in
IndustryMay 10, 2012