Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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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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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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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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Medical reform committee kicks off despite boycott from doctors
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Hanwha shares suspended for one trading session
Shares of Hanwha Corp. will be suspended from stock trading for one session due to its negligent regulatory posting, the bourse operator said Thursday. The holding company of Hanwha Group, a family-owned conglomerate, has been blacklisted by the bourse operator as “a negligent firm” which has delayed posting necessary investor information on its regulatory filings, the Korea Exchange said. Because it failed to follow set rules, the company’s shares will not be traded on the main bourse for the w
Feb. 23, 2012
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Korea to expand incentives to curb inflation pressure
Korea will grant more incentives to municipal governments for their anti-inflation efforts in a bid to encourage their cooperation in keeping rising prices from hurting the nation’s overall economy, the top economic policymaker said Thursday.Korea has been wrestling with high inflation, mostly driven by rising oil and food prices. For 2011, the nation’s consumer prices jumped 4 percent from a year earlier, hitting the upper ceiling of the central bank’s 2-4 percent target band.“We will increase
Feb. 23, 2012
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Listed firms’ cash dividend sinks 7.2 percent in 2011
Korean listed firms’ cash dividend paid out to their shareholders shrank 7.2 percent in 2011 from a year earlier, largely due to a decrease in the payouts by top-cap Samsung Electronics Co., data showed Thursday.The combined cash dividend paid out by 224 firms listed on the main bourse stood at 8.83 trillion won ($7.82 billion) in the 2011 fiscal year as of Feb. 21, compared with 9.52 trillion won in the previous fiscal year, according to the data by the Korea Exchange. The cited firms include t
Feb. 23, 2012
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Finance minister voices worries over excessive welfare demands
Korea’s top economic policymaker voiced concerns Thursday over “excessive” welfare demand, saying that such populism-driven policies could end up shifting burdens to future generations.“Excessive welfare deriving from populism dampens the will to work, undermines fiscal soundness and shifts the burden of payment to the next generation,” Finance Minister Bahk Jae-wan said in a speech at an international forum in Seoul.“Unnecessary welfare benefits handed out now will boomerang on the next generat
Feb. 23, 2012
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Samsung Fire to cut premiums on car cover
Samsung Fire & Marine Insurance Co., Korea’s largest nonlife insurer, said Thursday it will slash its auto insurance premiums by an average of 2.2 percent.Samsung Fire’s move came after a recent decision by the local financial regulator and the industry to mark down car insurance premiums amid worries over the country’s rising inflation, which has increased the cost of living in the country. The No. 1 nonlife insurer’s proposed rate is 0.1 percentage point lower than it initially offered, accord
Feb. 23, 2012
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Samsung Techwin wins order for Saudi plant
Samsung Techwin Co., a South Korean power systems, automation and defense contractor, said Thursday that it won a deal to supply industrial air compressors to a Saudi gas plant.The company, which did not go into details about price, said it will supply 17 compressors that can be used to make gas oil to the Shaybah natural gas liquids plant complex in the Middle Eastern country. The NGL plant is being built by Samsung Engineering Co. Both Samsung Techwin and Samsung E&G are part of the Samsung Gr
Feb. 23, 2012
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E-commerce sales jump to all-time high
Korea’s e-commerce sales jumped to an all-time high in 2011 as cyber transactions grew sharply between businesses, a government report showed Thursday.Online sales totaled about 999 trillion won ($884.9 billion) last year, up 21.2 percent from the 824 trillion won tallied in the previous year, according to the report by Statistics Korea.Business-to-business transactions, which accounted for more than 90 percent of all cyber sales, came to 912.56 trillion won, up 22.1 percent from a year earlier.
IndustryFeb. 23, 2012
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Facial cosmetic surgery shaves off 9 years
TORONTO (UPI) -- Patients looked almost nine years younger than they actually were after facial cosmetic surgery, researchers in Toronto found.Dr. Nitin Chauhan of the University of Toronto and colleagues attempted to quantify the change in perceived age, which may provide objective evidence of the
TechnologyFeb. 23, 2012
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S. Korean scientists develop enhanced container for hydrogen fuel
South Korean scientists have developed an enhanced material to contain hydrogen fuel that could significantly reduce the size of containers while holding more fuel, the government said Thursday.The new material could help speed up the development of hydrogen-fuel cars while improving the efficiency and overall competitiveness of such vehicles, as it will help reduce the size of fuel tanks, according to the Ministry of Education, Science and Technology. The ministry partly funded the research by
TechnologyFeb. 23, 2012
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Study: Y chromosome not going 'extinct'
A study has contradicted the notion the male sex-determining Y chromosome is steadily shedding genes and is doomed to degenerate, U.S. researchers say. In a 2002 article in Nature, two Australian researchers examined the rate at which the Y has withered and estimated it "will self-destruct in aro
TechnologyFeb. 23, 2012
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Study: 1-of-6 U.S.surgeons abuse alcohol
More than 15 percent of U.S. surgeons in an anonymous survey self-reported disorders consistent with alcohol abuse or dependence, researchers said.Dr. Michael R. Oreskovich of the American College of Surgeons in Chicago and the University of Washington, Seattle, and colleagues collected more than 7,
TechnologyFeb. 23, 2012
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Google developing ‘smartglasses’: report
Google is planning to introduce new high-tech sunglasses equipped with a computer screen in one lens that steams information directly into your eye, the New York Times reported Wednesday. This image is not directly related to the story (Vuzix homepage)Nick Bilton of the newspaper wrote th
TechnologyFeb. 23, 2012
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Honda recalling 46,000 vans to fix rear doors
2010 Honda Odyssey minivans sit on display at AutoPark Honda dealership in Cary, North Carolina, U.S. (Bloomberg)DETROIT (AP) _ Honda is recalling nearly 46,000 Odyssey minivans in the U.S. because the rear doors can fall on people unexpectedly, and have on at least two occasions.The problem affects
MobilityFeb. 23, 2012
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Antitrust watchdog to probe retail giants in March
The nation’s antitrust watchdog said Wednesday that it will launch a large-scale investigation into unfair business practices at major department stores and supermarket chains next month. The Fair Trade Commission also plans to revise a leniency program so that when two companies are caught price-fixing only the first declarer has its fines cut.“We will look into how commission cuts, agreed in September, are carried out at 11 major retailers and whether there are any illegal business activities
IndustryFeb. 22, 2012
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Korea to invest 16 tln won in scientific R&D in 2012
South Korea will invest about 16 trillion won ($14.2 billion) in scientific research and development (R&D) efforts this year, a presidential body said Wednesday.The amount is up 7.6 percent from the 14.89 trillion won set aside for the same purpose last year, according to the National Science and Te
Feb. 22, 2012
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Korean makers beat Japanese rivals in global TV market
A recent research said Wednesday that Korean TV makers sold more units of flat-screen televisions sets compared to its Japanese rivals for the first time globally.According to market research firm DisplaySearch, Korea recorded 34 percent in market share in terms of total TV units sold globally in the final quarter of last year, while Japan’s market share reached 31 percent.The Korean TV makers ― Samsung and LG Electronics ― have been beating its Japanese rivals in global quarterly sales volume o
IndustryFeb. 22, 2012
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SK Group, global companies to join petrochemical project in China
SK Group said on Wednesday it will take part in a project to build a major petrochemical complex in China with global petrochemical companies such as China’s Sinopec and British Petroleum.SK said it signed a preliminary deal with Sinopec and BP on Wednesday to build production facilities for butanediol, acetic acid and ammonia in the southwestern Chinese city of Chongqing by as early as 2014.The 1.2-trillion-won complex will break ground as early as July or August, and is expected to reap more t
IndustryFeb. 22, 2012
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Korea, Boeing to develop aircraft parts together
Korean companies, think tanks and universities will team up with Boeing to jointly develop advanced materials and parts for aircraft as part of a government program to boost their competitiveness in the global market.The Ministry of Knowledge Economy said it signed an agreement with the world’s largest aerospace company on Wednesday to crank up technological collaboration. Five research institutes and eight firms in Korea will take part in the project. Among the participants, the Korea Institut
IndustryFeb. 22, 2012
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Automobile parts suppliers gain on Korea-U.S. FTA
Auto parts makers and shipping shares rose on expectations their revenue will rise with the start of Korea-U.S. FTA in a market that barely moved on Wednesday.The KOSPI inched up 0.22 percent to close at 2028.65, with gains led by auto parts maker Mando Corp., Hyundai Mobis Co., each rising 1.85 percent to 165,500 won and 1.62 percent to 281,500 won.The pact, which will take effect on March 15, calls for the elimination of 2.5 percent to 10 percent duties on auto parts. “The 2.5 percent tax on a
Feb. 22, 2012
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New KITA chief vows to help small firms
Korean Ambassador to the United States Han Duck-soo was elected Wednesday as the new chief of the country’s international traders’ organization.The Korea International Trade Association selected Han as their new chairman and chief executive in a general meeting to replace outgoing chief SaKong Il, who completes his three-year tenure on Wednesday. Han offered to step down as ambassador last week, saying he had already served at his post for three years. The 62-year-old bureaucrat was the country’
Feb. 22, 2012