Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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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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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Financial asset growth slows sharply in 2011: BOK
Korea’s financial asset size increased at a much slower pace in 2011 due to sluggish economic growth, the central bank said Thursday.The Bank of Korea said the country’s financial asset value stood at 10,894.4 trillion won ($9.65 trillion) as of the end of December, up 5.5 percent or 565.8 trillion won from a year earlier. The growth rate is the lowest reached since 2003.“The drop can be attributed to the country’s weak growth rate that fell to 3.8 percent last year from 6.2 percent reached in 2
March 15, 2012
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Shares take a breather at seven-month high
Korean stocks ended almost flat on Thursday as investors took to the sidelines after the key index hit a seven-month high in the previous session. The local currency fell against the U.S. dollar.After swerving in and out of positive terrain, the benchmark Korea Composite Stock Price Index slipped 1.32 points, or 0.06 percent, to close at 2,043.76. Trading volume was moderate at 470 million shares worth 5.91 trillion won ($5.24 billion), with decliners outnumbering gainers 499 to 327.“There are s
March 15, 2012
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KEB targets rich Koreans in U.S.
CEO says bank also plans to open branches in South AmericaKorea Exchange Bank CEO Yun Yong-ro unveiled his global business strategy to focus on the private banking sector and attract wealthy Koreans residing in the U.S.“We are considering reentering the (retail banking) market in the western and eastern parts of America,” he told a news conference in downtown Seoul on Thursday. In 2004, KEB had to close down its retail banking business in Los Angeles and New York City due to U.S. financial regul
March 15, 2012
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85 local governments designate smoke-free zones
Watch out smokers: 85 local district offices have banned smoking on boulevards and at other public spots. According to the Ministry of Health and Welfare, 10 metropolitan or provincial governments and 75 district offices have designated communal parks, playgrounds, bus stops, beaches and boulevards as no-smoking zones as of Feb. 29. People who do not abide by the rules will be fined up to 100,000 won per case, the authorities said. The 10 metropolitan or provincial governments are Seoul, Busan,
TechnologyMarch 15, 2012
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Samsung Hospital to open on Saturdays for checkups
Samsung Seoul Hospital said it will open on Saturdays for health checkups, allowing wider access for people who cannot spare time during weekdays. “Previously, people had to wait for about a couple of months in order to receive checkups after a reservation. But the Saturday openings will reduce the wait time dramatically,” the hospital said in a press release. “More companies are asking for checkups on their workers. They could surely use their Saturdays for checkups. It also allows people livin
TechnologyMarch 15, 2012
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EWUH signs patient referral pact with Vietnam
Ewha Womans University Hospital has signed a memorandum of understanding with the Vietnamese Embassy in Seoul on Wednesday to ensure that the patients referred from the Vietnamese government receive ample treatment at the hospital. At the signing of the contract were Kim Kwang-ho, head of the hospital, and Tran Trong Toan, the Vietnamese ambassador to Korea. The pact is expected to facilitate human resources exchange between the medical facilities in Vietnam and at EWUH. “I was impressed that th
TechnologyMarch 15, 2012
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U.S.: More work needed to stop smoking in young people
RICHMOND, Va. (AP) ― More work needs to be done to keep young Americans from using tobacco, including creating smoking bans and increasing taxes on tobacco products, the U.S. Surgeon General’s office said in a report released Thursday.Almost one in five high school-aged teens smokes, down from earlier decades, but the rate of decline has slowed, the report said.It says it’s particularly important to stop young people from using tobacco because those who start smoking as teenagers can increase th
TechnologyMarch 15, 2012
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Gastritis
Mr. K is 40 years of age, and recently experienced a digestive disturbance and felt pain at the epigastrium, or upper central region of the abdomen, after overeating. He also sometimes presented with such symptoms as vomiting or heart burn. He therefore visited a local clinic. Through an interview with Mr. K, the physician recognized the symptoms and performed an abdominal examination. This was followed by a gastric X-ray, where it was found that Mr. K had no serious problems such as an ulcer or
TechnologyMarch 15, 2012
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Making meat in your diet history
More Koreans turn vegetarian though skepticism remains about its health effectsThirty-two-year-old office worker Kim Jin-ee recently decided to become a vegan. She removed all meat, milk, fish and eggs from her fridge to start. It was not her first time trying out a vegetable-oriented diet. She tried a couple of years ago, but failed. “People around haven’t been too generous with vegetarians. The company dinners were all about meat or sashimi, and everywhere you go you would have more than one o
TechnologyMarch 15, 2012
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Handset makers, telecom carriers slapped for deceptive pricing
SKT fined the largest amount of 20.25 billion won The nation’s antitrust watchdog said Thursday that it imposed fines totaling 45.33 billion won ($39 million)on local handset makers and telecom carriers for inflating cell phone prices via a deceptive pricing policy. According to the Fair Trade Commi
IndustryMarch 15, 2012
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Handset makers, carriers fined for deceptive pricing
The nation’s antitrust watchdog said Thursday that it imposed fines totaling 45.33 billion won ($39 million) on local handset makers and telecom carriers for inflating cell phone prices via a deceptive pricing policy. According to the Fair Trade Commission, almost all the major players in the telecom market have colluded to inflate the prices of cell phones for years while advertising that they were offering cheaper deals through subsidy plans. SK Telecom was fined with the largest amount of 20.
IndustryMarch 15, 2012
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Korea to set up $500m fund for industrial plant building
Korea will establish a $500 million industrial plant building fund to help local builders win overseas contracts, the government said Thursday.The plan, outlined at a weekly economic policymakers meeting, calls for the pooling of money from local pension operators and Middle East sovereign funds so Korean engineering and construction companies can better secure new deals.“Since construction projects are becoming bigger, value-added and high risk ventures, the ability of builders to come up with
IndustryMarch 15, 2012
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Korea’s jobless rate lowest in OECD
Korea’s unemployment rate was the lowest among the 34 leading industrialized economies for the sixth consecutive month in January, a report showed on Thursday.The Organization for Economic Cooperation and Development report said Korea’s jobless rate moved between the 3.1 percent to 3.3 percent range from August to January.In January, the jobless rate of Asia’s fourth-largest economy reached 3.2 percent, or 5 percentage points lower than the OECD’s average.The latest report showed double-digit un
March 15, 2012
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Number of stock trades jumps in February
Korea’s stock transactions surged to a 33 month-high in February due to the influx of investors attracted by rising share prices, data showed Thursday. According to the data by the Korea Exchange and the Bank of Korea, 13.2 billion shares were bought and sold last month, up 53.6 percent from 8.6 billion shares traded in January.Last month’s trading volume was the highest since May 2009, with the total value of shares changing hands reaching a six-month high of 143.8 trillion won ($127.1 billion)
March 15, 2012
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Study: Dinosaurs' exit not mammals' cue
An Australian study challenges a theory that the disappearance of dinosaurs 65 million years ago is what allowed modern mammals to flourish, researchers say.Researchers at the University of New South Wales say their study suggests mammals had already begun to diversify long before the asteroid-linke
TechnologyMarch 15, 2012
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Human-like fossils in China caves puzzle scientists
The most recent fossils ever found of a human-like species in southeast China have presented scientists with a mystery about what may be an unknown Stone Age culture, researchers said Wednesday.Sometimes called the "red deer people," the remains are about 11,500 to 14,500 years old and appear to sho
TechnologyMarch 15, 2012
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New frog species discovered in New York City
Amazed biologists have uncovered a new species of frog in the jungle -- New York's concrete jungle. An illustration of a frog (MCT)The mottled green creature was for years mistaken as belonging to a widespread variety of the leopard frog. But now scientists realize this is new."For a new species to
TechnologyMarch 15, 2012
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‘FTA will create momentum for economy’
KITA chairman forecasts herald interview 7-8 percent growth for Korea’s trade volumeThis is the second of a series of interviews of top officials on FTAs in light of the Korea-U.S. FTA taking effect. ― Ed.Despite persistent signs of fragility clouding the world economy, free trade pacts will lend a fresh impetus to Korea and its counterparts, said Han Duck-soo, chairman of the Korea International Trade Association.With the Korea-U.S. FTA taking effect Thursday, Han predicts that trade volume for
March 14, 2012
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Tax office promises fewer, easier audits on foreign firms
Korea’s tax authorities said they would reduce the frequency and scope of tax audits on foreign companies doing business here in a bid to attract more long-term investment. “Korea’s economic success has been greatly helped by the participation of foreign companies. We need to get rid of all uncertainties in tax probes to help create a business-friendly environment,” National Tax Service deputy commissioner Kim Moon-soo told a meeting of foreign company chiefs Wednesday. Explaining the change, NT
IndustryMarch 14, 2012
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Punishment due on officials who delayed nuke power loss report
Knowledge Economy Minister Hong Suk-woo on Wednesday apologized for delayed reports of the temporary power loss at the Gori nuclear power plant in Busan on Feb. 9 and vowed to reprimand those responsible. Kim Jong-shin, chief executive of Korea Hydro & Nuclear Power Co., said he will take responsibility if necessary, adding that he only learned about the accident on Sunday and reported it to the ministry and nuclear security authorities on Monday.“I apologize for the belated reports on the power
March 14, 2012