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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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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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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Chung Mong-koo Foundation supports poor, sick children
Charity to assist children suffering from rare diseasesThe Chung Mong-koo Foundation, funded by Hyundai Motor Group chairman, plans to boost its support of children from low-income families or with rare diseases as part of its social contribution efforts, a press release said on Tuesday. Chairman Chung created the charity organization last year to help poor students.The foundation said some 500 children are expected to benefit from the program under which each will receive financial support of u
April 24, 2012
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Over 300,000 could lose Internet access by July: FBI
The FBI warned Monday that more than 300,000 Internet users worldwide could lose their Web access starting in July following a multi-million-dollar scam.But users can breathe a sigh of relief as a solution is just a few clicks away at dcwg.org, a website the FBI created so people could check whether they have been infected with malware and remove any malicious software.Six Estonians were arrested
TechnologyApril 24, 2012
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Mysterious space microbes ‘munching’ ISS
Russian scientists said that 76 types of micro-organisms have been causing “severe damage” to the International Space Station, according to Interfax news agency and other local news reports.(MCT)“We had these problems on the old MIR space station, now we have them on the ISS. The microflora is attacking the station. These organisms corrode metals and polymers and can cause equipment to fail,” Anat
TechnologyApril 24, 2012
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KT installs nationwide LTE network, boasts quality
BUSAN ― KT Corp., the nation’s No. 2 telecom carrier, said Monday that it has completed nationwide coverage of the faster Long Term Evolution network service in 84 cities. Despite the later announcement than those of its rivals SK Telecom and LG Uplus, the company showed no doubt about its quality based on its own “Warp” technology. “There should be a first-mover advantage in the market. But when it comes to technology, a latecomer will have the upper hand,” said Pyo Hyun-myung, president of the
TechnologyApril 23, 2012
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World Steel Association meets in Seoul
Four Korean member companies of the World Steel Association ― POSCO, Hyundai Steel, Dongkuk Steel Mill and Dongbu Steel ― are jointly hosting the association’s key meetings in Seoul to discuss the pending issues of the global steel industry.Some 100 top executives from about 40 steelmakers in 20 countries including Xiaogang Zhang, president of China’s Anshan Iron & Steel Group Corporation, attended the meeting of Worldsteel’s executive committee on Monday. They also plan to open a meeting of boa
IndustryApril 23, 2012
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Samsung inheritance spat worsens
The inheritance suit surrounding Samsung chairman Lee Kun-hee and his siblings is intensifying with elder brother Lee Maeng-hee claiming on Monday that his younger brother’s greed triggered the fight.Lee Maeng-hee, the eldest of Samsung founder Lee Byung-chull’s children, said that Samsung chief Lee Kun-hee was the one at the center of family discord and that his inheritance was not about Samsung.“It is my goal to correct the wrongdoings by getting the facts right and I believe the truth will be
IndustryApril 23, 2012
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U.N. aviation agency meeting to open in Korea
Some 20 government officials and 150 aviation experts from the Asia-Pacific region will gather on Tuesday on Jeju Island to discuss next-generation air transportation systems, the Transportation Ministry said Monday.The four-day meeting of the International Civil Aviation Organization, the United Nations’ agency that specializes in aviation, will focus on automatic dependent surveillance-broadcast, or ADS-B. The new surveillance technology has emerged as a primary replacement for radar in tracki
IndustryApril 23, 2012
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Hyundai Heavy expands fund to support suppliers
Hyundai Heavy Industries Co. and its two affiliated shipbuilders agreed to expand their fund to support small partner companies to 300 billion won ($263 million) as part of efforts to seek shared growth.Hyundai Heavy, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. inked a deal with the Industrial Bank of Korea on Monday to offer loans at lower-than-market interests to their suppliers.First and second-tier suppliers of Hyundai Heavy Industries Group will be able to take out loan
IndustryApril 23, 2012
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Wealth polarization fueling social instability, populism: report
South Korea’s inability to reduce income inequality is fueling social instability and populism in Asia’s fourth-largest economy, a report by a state-run think tank showed Monday.The report by the Korea Development Institute said Asia’s fourth-largest economy had succeeded in reducing the earnings gap up until the early 1990s, but this trend was disrupted by the 1997-98 Asian financial crisis. It claimed that the country has only made limited gains in reducing polarization.“Greater earnings dispa
April 23, 2012
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Latest versions of Blade and Soul, Diablo 3 coming in weeks
Two blockbuster online games ― “Blade and Soul” and “Diablo 3” ― are coming to Seoul in the first half of this year, with both of them scheduled to go through closed beta testing Wednesday.Blizzard Entertainment Korea announced Monday that it would begin its closed beta testing of its latest version of the popular action role-playing online game “Diablo 3” on April 25. Game director Jay Wilson will also hold a press conference at a hotel in southern Seoul Tuesday.The company plans to unveil the
IndustryApril 23, 2012
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Carmakers strive to increase sales in China
Renault to produce some models in world’s largest automobile marketBEIJING ― Global carmakers including Korean players are competing to increase their market share in China, the world’s largest automobile market.In the past several years, China has overtaken the Untied States in vehicle sales per annum.While General Motors and Volkswagen had dominated the Chinese market, Hyundai Motor has continued to increase its share since it established the Beijing Hyundai corporation and factories a decade
MobilityApril 23, 2012
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Shares end flat before U.S. rate decision
South Korean stocks closed effectively flat on Monday as investors waited for this week’s U.S. interest rate decision and corporate earnings, analysts said. The local currency dipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index gave up 2.02 points, or 0.10 percent, to close at 1,972.63. Trading volume was moderate at 578 million shares worth 3.52 trillion won ($3.08 billion), with losers outpacing gainers 510 to 314.“There was no real upward or downside momentum,” said
April 23, 2012
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Kim MS shares rally on presidential run
Regulators, analysts caution investors against politically-driven stocksManufacturing, materials and rail shares linked to Kim Moon-soo rallied across the board on Monday, following the incumbent Gyeonggi governor’s official announcement that he will run for the presidency at the end of the year.The jump has led the Financial Supervisory Service to strengthen its oversight over political-themed stocks, including ones related to other presidential hopefuls such as Seoul National University profes
April 23, 2012
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Korea says insulated from sudden shortage of rare earth elements
South Korea has secured supply channels and emergency reserves to cope with immediate shortfalls in rare earth elements that are vital for its industries, the government said Monday.The Ministry of Knowledge Economy said despite uncertainties caused by the United States, Europe and Japan reporting China to the World Trade Organization for unfairly controlling the export of rare earth elements, South Korea will not face any challenges to meet its demand.Rare earth elements are 17 materials in the
April 23, 2012
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Insurers’ loan delinquency rate stable in March
The loan delinquency ratio of South Korean insurers remained unchanged in March from the previous month reflecting stable financial market conditions, the financial watchdog said Monday.The average default ratio of loans extended by local life and non-life insurers came in at 0.81 percent as of the end of March, according to the Financial Supervisory Service. This marks the third month in a row that the default rate has remained fixed.The latest report showed that compared to the year before, th
April 23, 2012
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Asian science parks to be discussed on Jeju
About 230 delegates from nine member countries of the Asia Science Park Association gathered on Jeju Island this week to discuss the future of high-tech science parks in Asia.The Jeju Free International City Development Center is hosting the “ASPA Leaders Meeting” at Jeju Science Park from Monday through Wednesday. ASPA is an international organization established in 1997 to help revitalize Asian economies through cooperation among Asian high-tech science parks. This year, participants will exch
IndustryApril 23, 2012
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UNESCAP pursues sense of community
Agency reaches out to SoftBank, POSCO for infrastructure in MongoliaSONGDO, Incheon ― Two years have passed since the United Nations Economic and Social Commission for Asia and the Pacific, Northeast Asia subregional office was established in Songdo.After making connections and contacts with regional think tanks, academics and the private sector, the real challenge is still ahead for Dr. Kilaparti Ramakrishna, the head of the UNESCAP for East and Northeast Asia, which aims to promote unity and g
April 23, 2012
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French golf tournament this week
The French Chamber of Commerce and Industry will hold an amateur golf event on April 27 aimed at improving the relationship of the two countries.The French-Korean Golf Tournament plans to increase awareness of the French brand, “Rendez-vous en France.”The tournament is co-hosted by the France Tourism Development Agency and the Chamber.The event at the Jack Nicklaus Golf Club will also offer the opportunity to network with sponsors, partners and prospective clients in one of the most prestigious
IndustryApril 23, 2012
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Austcham organizes trip to Yeosu
The Australian Chamber of Commerce is organizing a trip to the Yeosu Expo on May 27 to celebrate Australia National day at the fair.The 2012 Yeosu World Expo will be held May 12-Aug. 12 in Yeosu, South Jeolla Province. The Australian event will feature an official welcoming and a concert headlined by Australian performer Jessica Mauboy. To coincide with the function, Austcham and Austrade will lead a mission of up to 20 chamber members and 20 Korean guests to the Expo to join in the Australia da
IndustryApril 23, 2012
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Costco criticizes retailer restrictions
Warehouse giant makes success story in KoreaThe giant warehouse Costco Korea chief has criticized the country’s new regulation forcing large retailers to close one or two days a month or to cut operating hours, contending that the measure will not help small merchants. “This will hurt the very people they are trying to help,” Costco country manager Preston Draper told The Korea Herald last week.“We disagree with (the new regulation) because we fundamentally supply products to the small merchants
IndustryApril 23, 2012