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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Actor Yoo Ah-in accused of sexual attack
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Man who let his father die due to financial difficulties to be released on parole
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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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SKT named best telecom in Asia
SK Telecom was named Asia’s best mobile carrier at the Telecom Asia Awards in Bangkok on Wednesday. Its quick adoption of the fourth-generation Long Term Evolution network service was among the attributes that garnered positive reviews, the nation’s top telecom company said. SKT, which started the high-speed mobile service first in Korea in July, saw its LTE user number surpass the 1 million mark in Jan. 31, faster than in other countries, the company said. The company’s other unique technologie
IndustryApril 19, 2012
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Korea, U.S. close to deal on Iranian oil imports: minister
WASHINGTON (Yonhap News) ― South Korean Finance Minister Bahk Jae-wan said Wednesday that his country is nearing a deal with the United States on crude oil imports from Iran.“In general, consultations are proceeding smoothly. So, I don’t think there will be a big problem,” Bahk told reporters here. He arrived in Washington earlier in the day to attend a gathering of G-20 finance ministers and the spring meetings of the International Monetary Fund and the World Bank.Seoul is seeking a waiver from
April 19, 2012
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DSME’s new CEO stresses communication
Daewoo Shipbuilding and Marine Engineering Co.’s new chief executive Ko Jae-ho has been emphasizing substance in business and better communication with employees since taking office early this month. Ko recently paid a visit to the company’s shipyard in Okpo on the southern island of Geoje to observe the ongoing construction of the CLOV floating production storage and offloading unit.Daewoo Shipbuilding won the CLOV FPSO order worth 2.15 trillion won ($1.88 billion) from French oil and gas compa
IndustryApril 19, 2012
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Citroen reenters Korean market
French automaker Citroen resumed sales in the local market on Thursday after a decade-long hiatus.The company under the wing of PSA Peugeot-Citroen unveiled the DS3, a premium hatchback, in Seoul on Thursday. Hanbul Motors Corp. will take on imports of the French cars.Citroen aims to sell up to 2,500 cars per annum in Korea, Eric Dumondelle, chief of the company’s Asia Pacific division told The Korea Herald.“We at Citroen have a new logo, new technology and it was the right time (to come back) i
MobilityApril 19, 2012
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New Santa Fe aims to be best-seller
Hyundai Motor Co., Korea’s No. 1 carmaker, has launched the third-generation Santa Fe in the local market.During an unveiling event in Incheon on Thursday, the company said it aims to sell 42,000 units of the New Santa Fe at home and 110,000 units in the overseas market this year. The automaker has also set the sales target of 385,000 units for next year ― 50,000 for domestic and 335,000 for overseas consumers.“The Santa Fe holds significant meaning for the local sport utility vehicle market and
MobilityApril 19, 2012
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Fresh warning issued for troubled savings banks
Report by the central bank shows troubling signs in the local financial sectorThe fiscal soundness of savings banks in South Korea has worsened despite the vigorous restructuring efforts by the financial authorities, a report showed on Thursday. In the report titled “Financial Stability Report,” the Bank of Korea sent a clear warning about domestic savings banks whose problems, if not handled properly, could lead to a fresh round of shocks.The BOK said that 99 savings banks here had total asse
April 19, 2012
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Korea, Qatar to tap global construction markets
South Korea and Qatar are moving to join forces in making inroads into construction markets in third countries by utilizing sovereign wealth funds of the Middle East, Seoul officials said Thursday.The Ministry of Land, Transport and Maritime Affairs said it will sign a memorandum of understanding with the Qatar Investment Authority in May in a bid to expand joint investment in overseas construction projects.The envisioned MOU is a follow-up on a bilateral agreement that calls for the Qatari sove
April 19, 2012
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Sea level near Jeju Island rises sharply
The sea level near Jeju Island has risen at a pace faster than the global average, data showed on Thursday. The Korea Hydrographic and Oceanographic Administration said the mean sea level surrounding the southern resort island has gone up by 5.97 millimeters on average per year, far higher than the world average of 1.8 millimeters. The agency began to collect the sea level data involving the island in 1978. The broader sea level for South Korea increased by 2.48 millimeters per year, also higher
April 19, 2012
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Seoul shares dip on weak eurozone woes, N. Korea
South Korean stocks closed 0.23 percent lower Thursday due to lackluster U.S. corporate earnings, eurozone concerns and North Korea’s threat, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI fell 4.67 points to close at 1,999.86. Trading volume was moderate at 405 million shares worth 4.02 trillion won ($3.52 billion), with losers outpacing gainers 534 to 299.“U.S. economic data is improving, but the slow pace of recovery, as seen by weak tech companies earnings
April 19, 2012
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Korean shipyards win half of world’s ship orders in 1st quarter
South Korea continued to lead the world’s shipbuilding market in the first quarter of 2012 by winning half of all global orders in terms of weight, the government said Thursday.In the first quarter, the country’s shipbuilders secured orders for 60 ships worth $7.9 billion and totaling 1.93 million compensated gross tons in the January-March period, according to the Ministry of Knowledge Economy. The figure represents 50.7 percent of 3.80 million CGTs worth of global orders placed during the cite
April 19, 2012
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Corporate failures drop in March: BOK
The number of South Korean corporate bankruptcies fell to a record low in March as more manufacturers and service-related companies stayed afloat than the month before, the central bank said Thursday. The number of companies that went insolvent after defaulting on promissory notes declined to 90 last month from 94 in February, the Bank of Korea said. “The change is so small, there is no distinct reason for the dip last month, although the country’s economy being able to pull off steady gains ami
April 19, 2012
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FSS to probe banks’ insurance sales
Regulators to punish lenders for irregular loan issuance in MayCommercial banks will soon face a strict regulatory crackdown for possibly irregular practices in sales of “bancassurance” products, officials said.The Financial Supervisory Service plans to dispatch a group of inspectors to the headquarters of major banks such as Kookmin, Woori and Hana, starting in the coming weeks.In the same vein, several insurance companies, including Samsung Life and Korea Life, could be the target of close mon
April 19, 2012
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Korea is laboratory for big data analytics: professor
Companies that better analyze today’s soaring amount of data, not those with the ownership, will be the big winners in this era of big data, a global analyst said in Seoul on Thursday. Korea, in particular, has great potential to lead other countries in data analytics, according to Thomas Davenport, professor at Babson College, who is visiting here to attend the Entrue World 2012 conference.“It’s a real opportunity to analyze all the mobile phone data that is being accumulated in Korea. The nati
IndustryApril 19, 2012
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Project back on track to make Yeosu oil hub of Northeast Asia
KNOC pushing to build another oil storage facility in UlsanThe Korea National Oil Corporation’s ambitious scheme to develop Yeosu, South Jeolla Province into an oil hub of Northeast Asia comparable to Europe’s ARA (Amsterdam, Rotterdam and Antwerp) and Singapore’s Jurong Island has finally begun to proceed smoothly.An oil tank terminal with a capacity to store 8.2 million barrels of crude oil and petroleum products is under construction in Yeosu. Oil Hub Korea Yeosu, a subsidiary of the KNOC,
IndustryApril 19, 2012
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Texas OKs experimental stem cell therapy rules
AUSTIN, Texas (AP) ― The Texas Medical Board on Friday approved new rules on experimental stem cell therapies such as the one Gov. Rick Perry underwent during back surgery last year, despite objections they don’t do enough to protect patients and could led to an explosion of doctors promoting unproven, expensive treatments.The rules require patients to give their consent, and a review board must approve the procedure before doctors use stem cell treatments.Supporters say establishing formal rule
TechnologyApril 19, 2012
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Fertility treatment bans in Europe draw criticism
LONDON (AP) ― More than three decades after Britain produced the world’s first test-tube baby, Europe is a patchwork of restrictions for people who need help having a child.Many countries have strict rules on who is allowed to get fertility treatments. And recent court rulings suggest nothing’s likely to change anytime soon.France and Italy forbid single women and lesbian couples from using artificial insemination and in vitro fertilization, or IVF, to conceive. Austria and Italy are among those
TechnologyApril 19, 2012
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Fatty liver disease afflicts obese youths
ST. LOUIS ― Jake Watters is a typical teenager who loves listening to music, playing video games and annoying his parents. But he also faces a health challenge that used to only be seen in much older people.Fatty liver disease, a condition historically diagnosed in adults with diabetes or alcoholism, is increasingly diagnosed in obese children and teens.About 6 million young people in the U.S. have the chronic condition that can lead to liver scarring, inflammation and failure. Nearly all of the
TechnologyApril 19, 2012
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Dentists a stop for beauty business too
Your teeth and jaw are hugely important to your appearance. Think of the many TV personalities and sports stars whose appearances have benefitted from corrective jaw bone surgery. Though your eyes, nose, forehead, eyebrows and lips may be perfect, a simple protrusion or retrusion of your teeth or asymmetrical jaw line can make a huge difference to how you look, says Dr. Lee Jin-gew, oral and maxillofacial surgery specialist at M Dental Clinic.“From an aesthetic point of view to health reasons, o
TechnologyApril 19, 2012
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Pollen-induced allergic rhinitis
In spring when all things come to life, buds appear on the trees and pollen fills the air. But there are some patients who fear going outside during this good season. These patients have allergies that include allergic rhinitis, or inflammation of the nasal passage, conjunctivitis and allergic asthma. Allergic rhinitis is defined as the specific response of the nose to a variety of stimuli. In addition, pollen-induced allergies are defined when the pollen acts as an antigen and triggers allergy
TechnologyApril 19, 2012
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Advanced analytics will create new paradigm: LG CNS chief
LG CNS chief executive Kim Dae-hoon said Thursday advanced analytics is rising as a new paradigm that offers insight and understanding, with “intelligence” becoming the keyword in this smart era.“There were other analytics in the past but advanced analytics is differentiated from others because it finds what’s meaningful in various piles of data, which helps people understand the situation more quickly and make forecasts, while getting the insights,” he said during his keynote speech at its conf
IndustryApril 19, 2012