Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Man who let his father die due to financial difficulties to be released on parole
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Actor Yoo Ah-in accused of sexual attack
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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Chinese prefer Dongdaemun, Japanese favor Namdaemun: poll
A recent survey found Thursday that Chinese travelers pick the Dongdaemun area as their favorite shopping destination in Seoul, while Japanese prefer Namdaemun traditional market. The Korea Chamber of Commerce and Industry surveyed 200 Chinese and Japanese travelers here on their shopping preferences while in Korea.The business lobby said that their favorite shopping areas also determined which the items they purchased.Chinese people, due to the Korean Wave in their country, favored the latest f
IndustryApril 26, 2012
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Smart work saves KT 26 man years
KT Corp. said Thursday that the company has saved 26 years of time over the past year thanks to its smart work program that started last April. The nation’s second-largest telecom carrier also held a conference celebrating the first anniversary of the program, pledging to expand its smart work initiative to other firms. Since last year, KT has encouraged its 20,000 employees to work at home or “smart-working” centers located near their residential areas. Currently, some 4,000 people are working
IndustryApril 26, 2012
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SK Hynix to produce controller chip for NAND Flash by 2014
World’s No.2 DRAM chipmaker takes cautious stance on acquisition of ElpidaSK Hynix said Thursday that it is currently developing its own controller chip for NAND Flash memory, widely used in smartphones and tablet PCs, and plans to have it ready for production by 2014.Park Sung-wook, head of research and development at the firm, said it is making its own controller chip to apply it to next generation NAND Flash solutions during its quarterly earnings conference.He also said that the company is e
IndustryApril 26, 2012
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Hyundai Motor posts record operating profit
Performance aided by emphasis on product-quality than mass productionHyundai Motor reported a record performance on the back of improved profitability despite sluggish sales at home.The nation’s largest carmaker said Thursday that it posted 2.28 trillion won ($2.02 billion) in operating profit during the first quarter of 2012, up 24.9 percent from the same period last year.This marked all-time high quarterly earnings for the automaker. Company executives attributed the performance to a product q
MobilityApril 26, 2012
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Suhyup to market biggest dollar bond since 2009
National Federation of Fisheries Cooperatives, a Korean lender known as Suhyup, is marketing a five-year dollar-denominated bond of at least $300 million, according to a person familiar with the matter.Suhyup is marketing the notes to yield between 275 basis points and 285 basis points more than similar-maturity Treasuries, the person said, asking not to be identified because the details are private.Han Jae-kwon, the head of international financing of Suhyup, was not available to comment on the
April 26, 2012
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Seoul shares end flat on lingering eurozone woes
South Korean stocks closed effectively unchanged Thursday as lingering eurozone concerns canceled out overnight U.S. gains, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged up just 0.10 percent, or 2.06 points, to close at 1,964.04. Trading volume was moderately heavy at 597 million shares worth 5.26 trillion won ($4.62 billion), with losers outpacing gainers 534 to 301.“Investor sentiment was hurt by lingering concerns about th
April 26, 2012
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One-person households to dominate from 2012: report
Single-person households are expected to emerge as the most dominant living arrangement in South Korea this year due to the rapid breakup of nuclear families, a government report showed Thursday.The report by Statistics Korea showed single person homes will make up 25.3 percent of all households this year, followed by those with two and three people.This is a change from 2010, when two-member households were the most numerous, followed by a single person family unit and those with three people.
April 26, 2012
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Bank lending rates rise in March: BOK
South Korean banks’ average lending rate moved up in March from the previous month mainly due to the slight rise in rates offered to businesses, the central bank said Thursday.The average interest rate on new household, corporate and public sector loans stood at 5.74 percent last month, up 0.03 percentage point from a month earlier, according to the Bank of Korea. The bank lending rate on new household loans fell 0.05 percentage point to 5.62 percent, with the interest on fresh corporate loans m
April 26, 2012
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Washington promises transparency for Korea on mad cow disease
WASHINGTON (Yonhap News) ― The U.S. government insisted Wednesday that American beef is safe to eat despite reports of the first case of mad cow disease here in six years.It pledged to fully update South Korea on related developments.“Our investigation is ongoing, but here are a few things that we do know for a fact: It is perfectly safe to eat beef and drink milk without concern for BSE,” Matt Herrick, an official at the Department of Agriculture, said in an inquiry by Yonhap News Agency. The d
April 26, 2012
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‘LG Innotek did not breach Osram patent’
Trade commission says tech firm did not infringe on property rights related to LEDsThe Korea Trade Commission said Thursday that LG Innotek did not infringe the patent rights of Osram light-emitting diode package manufacturing.Following its inspection of seven different LED packages, the commission under the Ministry of Knowledge Economy decided that the inspected items of LG Innotek did not infringe the Munich-based firm’s intellectual property, including the white convergence technology.“We be
IndustryApril 26, 2012
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KOGAS secures stable LNG supply from United States
Korea Gas Corporation will start importing 3.5 million tons of U.S. liquefied natural gas each year from 2017 for 20 years.Sabine Pass LNG, which signed the long-term deal to export LNG to KOGAS in January, received authorization from the U.S. Federal Energy Regulatory Commission to construct and operate facilities for the liquefaction and export of natural gas.The approval allows Sabine Pass LNG to produce and export 16 million tons of LNG annually from the Sabine Pass LNG terminal in Cameron P
IndustryApril 26, 2012
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Elevator Institute forms panel for Korea Lift Expo
Korea Elevator Safety Institute has launched the Korea Lift Safety Expo Committee to ensure a successful opening of its event in October, its press release said.Under the theme of “Green City Week,” the expo will be held for four days from Oct. 23 at Coex in southern Seoul.The event will feature not only exhibitions of elevators and escalators from companies around the world, but also construction and green building materials, the institute noted.The institute’s president Kong Chang-seok has bee
April 26, 2012
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KB job fairs to help baby boomer retirees
Financial group also plans to support creation of jobs, internship posts in Middle EastKB Financial Group plans to hold several job fairs for the baby-boomer generation this year as part of efforts to support shared-development.“As an upgrade of the KB Goodjob campaign, we are considering introducing job fairs for baby boomers this year,” a KB Financial spokesman said Thursday.Baby boomers, mainly born between 1955 and 1963, have been the major driving force in the nation’s economic development
April 26, 2012
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What to know about dementia
Life with dementia is a constant battle for the sufferer to retain their dignity. The brain illness that affects memory, behavior and the ability to perform even basic tasks mostly affects older people. About 70 percent of cases are believed to be caused by Alzheimer’s.The American Academy of Family Physicians says that those suffering from dementia show signs of recent memory loss, and have difficulty performing familiar tasks and problems with language. Other symptoms include time and place di
TechnologyApril 26, 2012
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Hiking to stay in shape
The greatest merits of climbing mountains are that we can breathe the fresh air and exercise while appreciating nature. Hiking is an aerobic form of exercise that can improve the function of your heart and lungs.Hiking also helps increase muscle endurance in your legs and waist. It is therefore useful exercise for people who easily become tires due to insufficient exercise. Moreover, hiking provides benefits for mental health. Precautions when climbingThe way you walk will vary depending on the
TechnologyApril 26, 2012
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WHO: Measles deaths have plummeted over a decade
LONDON (AP) ― The number of measles deaths worldwide has apparently dropped by about three-quarters over a decade, according to a new study by the World Health Organization and others.Most of the deaths were in India and Africa, where not enough children are being immunized.Health officials estimate about 9.6 million children were saved from dying of measles from 2000 to 2010 after big vaccination campaigns were rolled out more than a decade ago. Researchers guessed the number of deaths fell dur
TechnologyApril 26, 2012
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Scientists may have found autism indicator in infants’ brains
SEATTLE ― It was a clue ― the kind of clue medical researchers notice.Intent on finding answers about autism, now estimated to affect 1 of every 88 children, they followed it, poking and prodding and scanning, prying open its secrets.It was a curious little observation that, for any individual child, didn’t mean much. But over time, measurements from hundreds of children suggested an intriguing trait: As a group, preschoolers diagnosed with autism tended to have larger heads.That meant something
TechnologyApril 26, 2012
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Ewha opens center for collaborative research
Ewha Womans University Medical Center opened Ewha Medical Collaboration Research Center on Monday, aiming to enhance the hospital’s research capacity in the hi-tech medical field to a global standard.It will also support the medical paradigm linked with clinical trails, incubate venture ideas, secure leading female researchers in the basic and advanced medical field, lead international cooperation with global industry and academies, and raise public awareness of hard-to-cure or serious illnesses
TechnologyApril 26, 2012
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Diablo 3 beta test gets mixed responses from Korean users
“Diablo 3,” which started a closed beta service in South Korea on Wednesday, is garnering mixed responses from local gamers, offering a clue about its impact ahead of its officially release May 15. The online action RPG game by Blizzard Entertainment has been regarded as one of the biggest titles by gamers in Korea and elsewhere, as its previous two versions were huge hits across the world.Some Korean users who played the game through the closed beta said “Diablo 3” was too easy, saying that com
TechnologyApril 26, 2012
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SK Hynix swings to loss in Q1
SK hynix Inc. the world's second-largest memory chipmaker, said Thursday it swung to a net loss in the first quarter due to an industry-wide slump that hurt sales and prices. Net loss amounted to 271.2 billion won ($238.3 million) in the January-March period, a turnaround from a profit of 273.5 billion won a year earlier, the company said in a regulatory filing. Sales dropped 14.5 percent on-y
April 26, 2012