Most Popular
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Han Kang speaks up on Nobel Prize, thanks ‘enormous wave’ of blessing
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Han Kang declines press conference, not to celebrate, citing global wars
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Former Ador CEO gains ground in legal battle with Hybe, as whistleblower reveals plagiarism evidence
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Han Kang drives readers to bookstores both online and offline
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BTS’s V and RM celebrate Han Kang’s Nobel Prize in literature win
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Han Kang: From blacklist to Nobel laureate
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BOK cuts key rate by quarter point to 3.25%
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No South Korean military drone entered Pyongyang skies: JCS
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Aunt sentenced to 15 years for throwing 11-month-old nephew from high-rise apartment
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Novelist Han Seung-won says daughter's historic Nobel win feels surreal
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AMCHAM CEOs serve as waiters for scholarships
By Renee Park Executives from some of the world’s top multinational companies donned waiters’ uniforms on Tuesday evening for the 8th AMCHAM CEO Servers’ Night, to serve a four-course dinner to their employees, friends and family members.Held at the Banyan Tree Club & Spa Seoul, the eleven executives, from companies such as Boeing Korea, Fidelity Worldwide Investment and Costco Wholesale Korea, raised about 30 million won to go toward scholarship assistance for Korean university students from di
June 6, 2012
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Container cargo tops record 2m TEU mark
The volume of container cargo handled at South Korea’s seaports surpassed the 2 million 20-foot-equivalent units mark for the first time in May on growth of transshipments, the government said Wednesday.The volume of container cargo handled at the country’s seaports is estimated to have reached more than 2.01 million TEUs last month, up 8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs.“This is the largest volume ever recorded on a monthly basis, wi
June 6, 2012
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SK seeks Turkish, Thai opportunities
SK Group is striving to beef up its presence in Turkey and Thailand as one of Korea’s largest conglomerates seeks to cash in on growing business opportunities in the two fast-growing markets. The corporation said Wednesday that chairman Chey Tae-won recently visited the two countries to expand the group’s operations in the regions and reinforce business networks there. On Monday, Chey signed a memorandum of understanding with Dogus Group, a major Turkish industrial group engaged in multiple sec
IndustryJune 6, 2012
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Korea, U.S. to hold FTA committee meetings
Officials of South Korea and the United States will meet in Washington this week to check on the implementation of the free trade agreement between the two countries, the Trade Ministry said Wednesday.Seoul and Washington have established the minister-level Joint Committee and 19 subcommittees and working groups to oversee the implementation of the landmark trade pact that went into force in March.Of them, the committees on trade in goods, trade remedy, service and investment, and the working gr
June 6, 2012
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Galaxy S3 to hit Chinese tech stores
Samsung also plans to release the latest smartphone in Korea, U.S. this monthChinese consumers will be able to get hold of Samsung Electronics’ new flagship smartphone “Galaxy S3” this weekend as Korea’s biggest tech firm secured mobile carrier deals with China’s three telecom giants.Samsung Electronics will offer TD-SCDMA 3G smartphones with China Mobile, CDMA phones with China Telecom and WCDMA with China Unicom, it said in a press release.“We have been closely collaborating with China’s mobil
TechnologyJune 6, 2012
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GM Korea downsizing faces union protest
Early retirement plan comes amid rumors on relocation of production basesGM Korea’s recent policy to downsize its manpower structure via a voluntary redundancy program has been inviting backlash from the carmaker’s labor union.Unionized workers at the automaker are set to stage a series of protests against the early retirement scheme, which has allegedly been initiated by new GM Korea CEO Sergio Rocha, according to sources.The Korean unit of U.S.-based General Motors is considering reducing the
IndustryJune 6, 2012
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Korea’s economy unlikely to recover in H2: economists
South Korea’s economy may not be able to recover from its current slowdown in the second half of this year mainly due to unfavorable overseas developments, local economists said Tuesday.In an economic assessment gathering hosted by the Federation of Korean Industries, experts predicted the persistent eurozone fiscal woes are exerting negative influence on the country. They added slower than expected growth in China and the United States is weighing down growth that was originally expected to pic
June 6, 2012
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KDB said to start sale of Samurai bonds
Korea Development Bank started marketing a sale of as much as 50 billion yen ($635 million) of Samurai bonds planned for next week, according to a person with direct knowledge of the matter.KDB told investors it plans to price the two-year notes to yield 60 basis points to 75 more than the yen swap rate as soon as June 13, said the person, asking not to be identified because the information is private.The lender is following Export-Import Bank of Korea, in selling yen-denominated debt as the ben
June 6, 2012
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Overseas account holders required to report to NTS
People who have held more than 1 billion won ($850,000) in overseas accounts even for a day in the past year are required to report to the nation’s tax agency by the end of this month.Up to 100 million won in rewards will be given to others who report them.The National Tax Service said Wednesday it will receive reports from residents of Korea or domestic legal entities that own a total of more than 1 billion won in listed stocks or accounts in foreign financial institutions.The overseas financia
June 6, 2012
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Financial firms’ household loans up in April: BOK
Household loans offered by South Korean depository institutions rose in April, despite ongoing government efforts to curb private debt. the central bank said Wednesday, Household lending by local banks and non-bank institutions totaled 639.58 trillion won ($541.09 billion) as of the end of April, up 2.46 trillion won from the preceding month, according to the Bank of Korea.The monthly total is the second highest after 639.60 trillion won tallied in December 2011. The gains also come after loans
June 6, 2012
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Trading volume plunges on eurozone woes
KOSDAQ market cap dips below W100tr for first time since SeptemberThe market capitalization of local bourses and the value of daily stock trading plunged recently on growing investor angst as the European debt crisis continues to drag down the global economy. Rising concerns of a Greek exit from the eurozone and a bank run in Spain, along with slowing growth in the world’s two largest economies ― the U.S. and China ― have weakened investor sentiment.The aggregate market value of the benchmark KO
June 6, 2012
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iPad rules the tablets, Samsung tops Amazon, others: survey
WASHINGTON (AFP) ― The Apple iPad extended its lead in the global market for tablet computers at the start of 2012 while Amazon’s Kindle Fire flamed out after a sizzling introduction, a survey showed Monday.The ABI Research survey showed overall global sales of media tablets amounted to 18.2 million in the first three months of the year, up 185 percent from a year earlier, but down 33 percent from the fourth quarter gift-giving season.Apple held 65 percent of the market with 11.8 million iPad sh
TechnologyJune 6, 2012
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SK Telecom launches security services for cloud computing
SK Telecom has launched security services for cloud computing servers to guard against hacking and security breaches.The company said that through a strategic partnership with U.S.-based Juniper Networks, it developed a cost-efficient cloud security system, named the “T Cloud Biz.” Infosec, which is part of SK C&C, will operate the system.This the first time a telecom company in Korea has launched such “firewall” services for business-to-business cloud computing that utilize systematic and real-
TechnologyJune 6, 2012
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Research center works to strengthen ‘roots’ of component manufacturing
KPIC chief says mid-level manufacturing should be automatic, clean and easyAbout 25,000 parts are needed to make a single automobile. And almost 90 percent of those parts are developed by small and medium-size enterprises through the delicate craftsmanship, manufacturing process and techniques of molding, casting, plastic working, welding, and heat and surface treatments.The situation is pretty much the same for making mobile handsets and ships in which Korea maintains global competitiveness.The
IndustryJune 6, 2012
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Skeleton find points to how vampire legends were born
Italian archeologists discovered last month a skeleton believed to have been part of an exorcism ritual, providing clues to how vampire myths became popular around the world, the Daily Mail reported.The skeleton, found in a mass grave on the island of Lozzarretto Nuovo in Venice, was buried with a brick jammed in its jaws. It is believed that whoever buried the woman suspected her of being a vampire. Placing a brick in a vampire-suspect’s mouth was a tradition during the middle ages to ensure th
TechnologyJune 6, 2012
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Vietnamese catch 50-kg dragon fish
(Viet Nam News)Two people in southern Vinh Long Province caught a 1.7-meter long dragon fish weighing nearly 50 kilos in the Hau River, near the Ninh Kieu pier in Can Tho City on Wednesday.After catching the fish, they killed it and prepared it for sale, not thinking to preserve it as an ornamental trophy.The dragon fish was subsequently buried in Ba Chua Xu Temple yesterday, attracting large crow
TechnologyJune 6, 2012
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Hyundai’s premium cars post record sales in U.S.
Luxury sedans post record sales of 5,232 units in MayHyundai Motor has set a new milestone in the U.S. car market, with its premium sedan deliveries surpassing the 5,000 units for the first time in May, a company official said. Hyundai’s Genesis, Grandeur and Equus models posted record sales of 5,232 units last month in the U.S., doubling the 2,600 vehicles sold in January, according to the Korean auto giant. Hyundai, which has gained a reputation for building inexpensive small cars, has recentl
IndustryJune 6, 2012
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Trading volume in S. Korean stock market drops sharply amid
South Korea's stock market has seen trading volume and market capitalization plunge as investor sentiment worsened with the U.S. and Chinese economies showing signs of slowing down amid the eurozone financial crisis, market watchers said Wednesday.The benchmark KOSPI market's capitalization has dropped to 1,061 trillion won ($898 billion) as of May 31, a level similar to August last year. The seco
June 6, 2012
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Google buys maker of Quickoffice mobile app
Google is escalating its rivalry with Microsoft with the purchase of Quickoffice, the maker of a widely used mobile application for working on documents created in Microsoft's programs for word processing, spreadsheets and presentations.The deal announced Tuesday gives Google Inc. a new weapon to foil Microsoft Corp. as more people get work done on smartphones and tablet computers. Quickoffice mak
IndustryJune 6, 2012
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Scientists: Dinosaurs lighter than thought
(AFP)British scientists say their new technique to accurately measure the weight and size of dinosaurs shows they were not as heavy as previously thought.University of Manchester biologists used lasers to determine the minimum amount of skin required to wrap around the skeletons of modern-day mammals, then applied the technique to a giant Brachiosaur skeleton in a Berlin museum.While previous esti
TechnologyJune 6, 2012