Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Exports to US reach all-time high, widen gap with China
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Leaders of S. Korea, Angola agree to boost economic, trade cooperation
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Goldman Sachs lauds Samsung's new smartphone
Samsung Electronics Co.'s latest smartphone will be a "worthy" successor to its flagship smartphone series due to improvements in both hardware and software, Goldman Sachs said Friday.Samsung Electronics unveiled its Galaxy S III at an event in London Thursday, launching the latest version of its Galaxy S smartphone series. The company will start selling the product in 145 countries later this mon
TechnologyMay 4, 2012
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Alcohol spray makes you ‘instantly drunk’
A French American scientist has developed a new alcohol spray that can intoxicate the user instantly, a U.S. news report said. According to the report, however, the spray’s effects last only moments.David Edwards created the spray called “WA|HH Quantum Sensations” and unveiled it during an exhibition in Paris, the report said.The spray is contained in a finger-long bottle, designed by French product designer Philippe Starck.It will be sold for about $26, the report said.(yoonmi@heraldm.com)<관련 한
TechnologyMay 4, 2012
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Kids with stock holdings exceeding 100 mln won top 100 mark
The number of kids with stock holdings exceeding 100 million won (US$88,400) exceeded the 100 mark for the first time in April as owners of large businesses take steps to pass on their wealth to their children, data showed Friday.According to the data compiled by Chaebol.com, an information provider on large conglomerates, 102 children under 12 held sizable shares in listed companies as of the end
May 4, 2012
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FSS asks prosecutors to probe 4 savings banks
The Financial Supervisory Service recently asked the prosecution to investigate four debt-saddled savings banks for alleged embezzlement or breach of duties, officials said Thursday.The four troubled savings banks are Solomon, Korea, Hyundai Swiss and Mirae, according to regulatory officials at the FSS.Solomon Savings Bank is the largest player in the secondary banking sector, and the combined assets of the four lenders hover at 10 trillion won ($8.84 billion).As the FSS is also considering susp
May 3, 2012
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Pantech ready to compete with Samsung and Apple: CEO
Pantech CEO Park Byeong-yeop said Thursday the company is ready to join the intense competition with Samsung Electronics and Apple, calling its new one-chip solution smartphone Vega Racer 2 the “world’s best.”“Even though Samsung and Apple are powerful players, the product quality of the Vega Racer 2 is second-to-none,” Park told reporters after a launching event held at the company’s headquarters in northern Seoul. He was appearing in public for the first time since the nation’s third-largest h
TechnologyMay 3, 2012
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Steelmaker mired in controversial ‘Picity’ project
Steelmaker mired in controversial ‘Picity’ development project and patent suitPOSCO, the world’s fourth-largest steelmaker, is mired in the influence-peddling scandal involving “Picity.” Suspicious eyes are looking to relations between POSCO and JE&T chief Lee Dong-jo after prosecutors summoned Park Young-joon, a former vice commerce minister and close confidant to President Lee Myung-bak, to question him about the corruption scandal. While businessman Lee allegedly managed Park’s slush funds,
IndustryMay 3, 2012
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Hyundai foundation offers W2b to help N.K. defectors
A Hyundai foundation pledged Thursday to give 2 billion won ($1.7 million) to help North Korean defectors better adjust to life in South Korea.The Hyundai Motor Chung Mong-koo Foundation inked the deal with the North Korean Refugees Foundation for three years of financial assistance for defectors, according to the Unification ministry.The aid is to be used to hire three medical personnel, including a psychiatrist, to help treat North Korean defectors in a government-run resettlement center.The m
May 3, 2012
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Tax policies unnerve foreign investors
The foreign business community expressed uneasiness through a survey about the nation’s taxation policies, despite Korean tax authorities’ recent promise of fewer and easier audits on foreign firms.In March, the National Tax Service said it would reduce the frequency and scope of tax audits on foreign companies doing business here in a bid to attract more long-term investment.But in a survey conducted by the Federation of Korean Industries on 150 foreign firms operating in Korea, 72 percent of t
May 3, 2012
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Lone Star sues Korea Exchange Bank over $49 million bill
Lone Star Funds, whose investment in Korea Exchange Bank earned it at least $4 billion, claimed in a lawsuit that the lender alone was liable for a $49 million compensation-related payment to Olympus Capital Holdings Asia. Five units of Lone Star are asking Singapore’s High Court to rule that the South Korean bank should compensate them for payments made to Olympus Capital, according to court papers filed in the Southeast Asian city. An international arbitration tribunal in Singapore ordered Lon
May 3, 2012
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Shares end lower on weak U.S. data
South Korean stocks closed 0.20 percent lower on Thursday on weaker than expected U.S. economic data and lingering eurozone woes, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 3.96 points to close at 1,995.11, the first drop in five sessions.Trading volume was heavy at 677 million shares worth 4.57 trillion won ($4.03 billion), with gainers outpacing losers 442 to 378.“Lower than expected job gains in the United States and oth
May 3, 2012
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Seoul plans to limit fallout of China FTA on farm sector
South Korea will draw up safeguard measures to minimize the fallout of a free trade agreement with China on its farming sector, the Seoul government said Thursday.“The close proximity of China, the similar agricultural structure and sizable difference in product prices has raised considerable concerns that an open trade arrangement will hurt local farmers,” the Ministry for Food, Agriculture, Forestry and Fisheries said in a press release.To alleviate such concerns, every effort will be made to
May 3, 2012
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Korea’s foreign reserves hit record high in April
South Korea’s foreign exchange reserves reached a new record high in April as the strength of the euro and other currencies boosted the conversion value of those assets, the central bank said Thursday.The country’s foreign reserves reached $316.84 billion at the end of last month, up $890 million from March, according to the Bank of Korea. The previous record was $315.95 billion set in the previous month.Asia’s fourth-largest economy saw its foreign reserves surpass the $300 billion mark for the
May 3, 2012
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Korea, China, Japan agree to invest in each other’s state bonds
HONG KONG (Yonhap News) ― South Korea, China and Japan agreed Thursday to invest in each other’s government bonds, reaffirming their commitment to stabilizing the regional financial and currency markets, government officials said. “We agreed to promote the investment by the foreign reserve authorities in one another’s government bonds, further strengthening our cooperation,” the financial ministers and central bank governors from the three nations said in a joint statement. “We agreed to have wo
May 3, 2012
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SK Group expands shared-growth programs for subcontractors
SK Group announced on Thursday that its newest policies for shared-growth with its subcontractors went into effect. One of the nation’s biggest conglomerates, SK Group came up with co-prosperity projects for medium-sized and smaller subcontractors in three sectors, education, finance and technology. The new policies are meant to be supportive of the retainable management growth of SK’s subcontractors, the conglomerate said. SK Group had established a shared-growth committee in the fall of 2008 t
May 3, 2012
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LG washing machine picked as top product by Consumer Reports
A fully automatic washing machine made by LG Electronics Inc., South Korea’s leading consumer appliance maker, was named the best product by an authoritative U.S. magazine, industry sources said Thursday.Consumer Reports said the top-loading washing machine received the highest marks among 81 products tested and was the only model to receive an “excellent” rating in washing capabilities, sources said.The WT4801C model that features fully automatic temperature control, a detergent dispenser and f
TechnologyMay 3, 2012
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Options limited for loan shark victims
Lee instructs state-run legal aid agency to sue loan sharks on behalf of victimsKwon Hyung-min (not his real name), a self-employed tradesman in a provincial market, found himself in hot water after borrowing 2 million won ($1,700) from a private lender, which he promised to pay back in 10 days. He missed the deadline, and thanks to annual interest of 360 percent, his liabilities eventually snowballed to 200 million won. The loan shark used illegal methods including violence to collect the debt.
May 3, 2012
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Study: Heavy teens have trouble managing diabetes
LOS ANGELES (AP) ― New research sends a stark warning to overweight teens: If you develop diabetes, you’ll have a very tough time keeping it under control.A major study, released Sunday, tested several ways to manage blood sugar in teens newly diagnosed with diabetes and found that nearly half of them failed within a few years and 1 in 5 suffered serious complications. The results spell trouble for a nation facing rising rates of “diabesity” - Type 2 diabetes brought on by obesity.The federally
TechnologyMay 3, 2012
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Garlic may help kill food poisoning bacteria
Garlic can help prevent food poisoning, new research has found. Researchers at Washington State University in the United States said Wednesday that a compound in garlic is 100 times more effective than two popular antibiotics at eliminating one of the main causes of food poisoning, citing their latest laboratory test results. The finding suggests that the compound called “diallyl sulphide” easily penetrates and kills Campylobacter bacterial cells by combining with an enzyme containing sulfur and
TechnologyMay 3, 2012
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Dutch ban takes aim at foreigners buying pot
AMSTERDAM (AP) ― This country of canals and tulips is also famous for “coffee shops” where joints and cappuccinos share the menu. Now, the Netherlands’ famed tolerance for drugs could be going up in smoke.A judge on Friday upheld a government plan to ban foreign tourists from buying marijuana by introducing a “weed pass” available only to Dutch citizens and permanent residents.The new regulation reins in one of the country’s most cherished symbols of tolerance ― its laissez-faire attitude toward
TechnologyMay 3, 2012
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Bayer release Aspirin Protect Couple Pack
Bayer Healthcare on Wednesday released the Aspirin Protect Couple Pack, consisting of two packs of 98 pills with a cardiovascular guidebook and a magnetic journal to keep record of the dosage. Aspirin Protect is approved for use in preventing platelets, a type of blood cell, from forming blood clots that could cause a heart attack. The product is frequently used to prevent coronary heart disease for people who have no signs of CHD or other cardiovascular diseases but have one or more risks facto
TechnologyMay 3, 2012