Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Ministry denies blame for Jamboree debacle
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Beef inspection team heads for U.S.
A South Korean beef inspection team left for Washington on Monday to investigate the latest mad cow disease case and the overall safety of U.S. beef. The Ministry for Food, Agriculture, Forestry and Fisheries said that it may take additional measures depending on the results reported by the team. Led by Joo Yi-seok, head of the animal disease prevention department at the Animal, Plant and Fisheries Quarantine and Inspection Agency, the team is comprised of nine members including government offic
IndustryApril 30, 2012
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Korea lost 660,000 jobs on weak FDI: think tank
Korea’s increasing outbound investment and sluggish inbound foreign investment has contributed to a loss of some 660,000 jobs over the last 12 years, a private think tank said.Hyundai Research Institute said in a report that Korea’s foreign direct investment grew only 3 percent, while its overseas investment rose 24 percent on average year-on-year.Overseas energy and mining has been the most sought after investment for Korean companies since 2006. Investment in the energy sector abroad was worth
April 30, 2012
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LGE, Microsoft may tie up on smartphones
MS chief Ballmer likely to meet Koo during visit to Seoul this month: sourcesEyes are on the possibility of Microsoft’s chief executive Steve Ballmer holding a meeting with the chief of LG Electronics, as the U.S. software giant chief is expected to visit Seoul this month.Industry sources said Ballmer is likely to engage in business meetings with local industry representatives, including LG and its platform developers, as he is coming to speak at the Seoul Digital Forum on May 22.“Ballmer, who
IndustryApril 30, 2012
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FSS chief presses banks on social obligations
The nation’s top financial regulator called on the banking industry to expand their social contribution activities during a meeting with 18 CEOs of banks on Monday.“The financial sector has been criticized for glossing over difficulties of the underprivileged,” Financial Supervisory Service Gov. Kwon Hyouk-se told the participants.“In proportion to their earnings, banks should have a deeper engagement with charities and causes for their own business interests,” he said. The FSS chief’s remarks c
April 30, 2012
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Shares end 0.34% higher on corporate earnings
South Korean stocks closed 0.34 percent higher Monday as investor sentiment was buoyed by better-than-expected U.S. corporate earnings in the first quarter and good showing by local blue chip companies, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 6.64 points to close at 1,981.99, rising for a third session.Trading volume was heavy at 824 million shares worth 6.21 trillion won ($5.49 billion), with losers outpacing gainers 4
April 30, 2012
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Korean manufacturers’ business sentiment improves for May
South Korean manufacturers’ business confidence for May moved up for the fourth straight month as overall economic conditions showed signs of steady improvement, the central bank said Monday.The business survey index of manufacturers’ expectations rose to 90 for May from 85 tallied in April, according to the Bank of Korea.The reading follows recent improvements in the BSI that started from February onwards after dropping to 79 in the first month of this year.The index measures manufacturers’ out
April 30, 2012
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Public sector debt jumps
Debt owed by South Korea’s public sector soared more than 15 percent in 2011 from a year earlier due to increased spending on welfare and infrastructure projects, a government report showed Monday.According to the report by the finance ministry, 286 public corporation and agencies had a combined debt of 463.5 trillion won ($409.4 billion) as of end-2011, up 15.4 percent from the previous year.They include state-run enterprises such as Korea Electric Power Corp., Korea Deposit Insurance Corp. and
April 30, 2012
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Industrial output growth drops sharply in March
South Korea’s industrial output growth dropped sharply in March from the previous month mainly due to weak exports and domestic demand, a government report showed Monday.Production in the mining and manufacturing industries edged up 0.3 percent last month from a year earlier, compared with a 14.3 percent on-year increase in February, according to the report by Statistics KoreaThe monthly output number represents a 3.1 percent contraction from February.In the manufacturing sector, which makes up
April 30, 2012
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Samsung Electronics stocks hit record
Some brokerages forecast chipmaker’s share price to hit 2 million wonSamsung Electronics stocks surpassed 1.4 million won ($1,240) per share during the trading session on Monday, hitting a record-high.Predictions emerged in the market that stocks of the world’s biggest memory chipmaker would eventually reach 2 million won within several months.After climbing to 1.409 million won on the main bourse, Samsung Electronics stocks closed at 1.39 million won, up 16,000 won, or 1.16 percent, from a trad
April 30, 2012
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GM to start selling Chevy Corvette in Korean market
General Motors Co., the world’s largest automaker, will begin selling the Chevrolet Corvette sports car in South Korea this month as the U.S. company seeks to expand sales in overseas markets.The Corvette Coupe, equipped with a eight-cylinder engine delivering 430 horsepower, will go on sale May 4 starting at 86.4 million won ($76,300), GM’s Korean unit said in an e- mailed statement on Monday. That’s more than 50 percent higher than the car’s sticker price in the U.S.The coupe will be the ninth
MobilityApril 30, 2012
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French seminar on IP amendments
The French Chamber of Commerce will hold a seminar in Seoul on Friday that will examine IP law amendments allowing Korea’s free trade agreements with the European Union and the United States.The meeting will be held from 8:30 a.m. at the Grand Ambassador Hotel. The guest speaker will be Shin and Kim lawyer Lim Bo-kyung and will be conducted in English.The seminar is part of the chamber’s Expert Training Club which hosts seminars and lectures with experts that offer their insight and practical so
April 30, 2012
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KITA chief at EUCCK monthly luncheon
Korea International Trade Association chairman Han Duck-soo will speak about Korea’s FTA policies and their effect on business at a luncheon Thursday organized by the European Union Chamber of Commerce.Before being appointed KITA chief, Han served as prime minister and ambassador to the United States.The luncheon will be held at the Grand Hyatt hotel. The cost is 65,000 won for members and 80,000 won for non-members. For more information, visit www.eucck.org.
April 30, 2012
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IVI’s new chief looks to bring vaccines everywhere
Loucq hopes to establish closer ties with Korean organizationsThe International Vaccine Institute introduced the successful development of a new cholera vaccine last year. But challenges still weigh on the vaccine distribution across the world due to low demand and small capacity.“The problem we have today is that the company making the vaccine has a relatively small capacity,” IVI’s new director general, Dr. Christian Loucq, told The Korea Herald.IVI, which is devoted to research in vaccine dev
April 30, 2012
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Microsoft, LGE may hold talks on smartphones
Steve Ballmer is highly likely to meet Koo Bon-joon during visit to Seoul this month: sources Eyes are on the possibility of Microsoft’s chief executive Steve Ballmer holding a meeting with the chief of LG Electronics, as the U.S. software giant chief is expected to visit Seoul this month.Industry sources said Ballmer is likely to engage in business meetings with local industry representatives, in
IndustryApril 30, 2012
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Girls happy with bodies less depressed
Teen girls happy with the size and shape of their bodies report higher levels of self-esteem, U.S. researchers said. Kerri Boutelle, associate professor of psychiatry and pediatrics at the University of California, San Diego, School of Medicine, said the study involved 103 overweight adolescents surveyed between 2004 and 2006. The girls were assessed for body satisfaction, weight-control behavior,
TechnologyApril 30, 2012
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Doctors opt to deny treatment for smokers and obese: survey
More than half of doctors think that the National Health Service has the right to deny the obese or smokers non-emergency treatment, a recent study showed.The survey conducted by Doctors.net.uk, a professional networking site, found that 593 (54 percent) of the 1,096 doctors who responded answered “yes” to the question, “Should the NHS be allowed to refuse non-emergency treatment to patients unles
TechnologyApril 30, 2012
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Vaccine institute seeks to resume operations in N.K.
The new head of the International Vaccine Institute disclosed a plan to revive a program to develop a laboratory on epidemic diseases in North Korea, which has been suspended since 2010.“IVI had a program in North Korea that started in 2006, and the program targeted surveillance studies so we could understand the epidemiology of the study, like how many cases, and the importance of a study in a country,” IVI director general Christian Loucq told The Korea Herald.The original program focused on J
April 30, 2012
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The secrets of Korea’s caviar kingpin revealed
CHEONGJU (Yonhap News) ― The banks of the Namhan River bend throughout this region of the Korean countryside, said to be the geographical center of the nation. It’s an area dotted with apple orchards and surrounded by green hills, where on a quiet afternoon the sound of chanting can be heard, echoing from a Buddhist temple. At one spot along the shoreline stand what appear to be above ground, Olympic-sized swimming pools. But you won’t find any athletes doing laps in their lanes. The river water
IndustryApril 30, 2012
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Scientists develop ‘DNA scissor’ that avoids mutations
Korean scientists succeeded in cutting a damaged strand of DNA with engineered nuclease technology, or a “molecular scissors,” without generating mutation. The progress in gene editing is expected to help increase the effectiveness of gene therapy which in most cases fails to achieve intended results, said Kim Jin-soo, a chemistry professor at Seoul National University, who led the research. His team was able to prevent mutation with a new DNA-cutting enzyme that cuts only one DNA strand entwine
TechnologyApril 29, 2012
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Samsung-Apple settlement talks set for May 21-22
Samsung Electronics confirmed Sunday that the planned CEO-level meeting between the company and Apple will take place in a San Francisco court house on May 21-22. A Samsung spokesperson contacted by The Korea Herald refused to elaborate further on the issue, though. The Suwon, Gyeonggi Province-based company said earlier on April 18 that its vice chairman Choi Gee-sung will meet Apple’s chief executive Tim Cook following a court order for a settlement conference. On April 17, U.S. Judge Lucy Koh
IndustryApril 29, 2012