Most Popular
-
1
[Exclusive] Korean military set to ban iPhones over 'security' concerns
-
2
Korean, Romanian leaders discuss defense tech, nuclear energy
-
3
S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
-
4
Yoon’s jailed mother-in-law excluded from latest parole list
-
5
Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
-
6
[Pressure points] Leggings in public: Fashion statement or social faux pas?
-
7
Korea’s homegrown nanosatellite successfully launches into space
-
8
Aging population to drive down Korea's housing prices from 2040: experts
-
9
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
10
Hybe's multilabel system tested amid conflict with Ador
-
Iran sanctions push petrol prices to all-time high
Retail prices of premium gasoline in Korea hit their highest levels ever on Feb. 14, driven by rising tensions in the Middle East, government data showed Thursday.Premium unleaded petrol was sold at an average 2,216.15 won ($1.96) per liter at pumps nationwide, according to Opinet, a website of real-time gas price comparisons run by the state-run Korean National Oil Corp.That is up almost 8.6 percent from a year ago and 2.6 won more expensive than the previous high of 2,213.55 won on Oct. 23, 20
IndustryFeb. 16, 2012
-
LG Chem wins patent suit against Dow Chemical
Seoul court declares Dow’s key technology infringement suit has no legal basisLG Chem said Thursday it won a patent suit battle against U.S.-based Dow Chemical Co. involving ethylene-based elastomers.The country’s top chemical maker said that a Seoul court had ruled that the infringement lawsuit filed by Dow Chemical back in 2009 had no legal basis.“The ruling indicates that LG Chem’s proprietary technology on the making of ethylene-based elastomer, which was developed over the past 10 years, ha
IndustryFeb. 16, 2012
-
Woori Financial posts record earnings
Woori Financial Group reported a net profit of 2.15 trillion won ($1.88 billion) last year, a record-high yearly performance for the group.Its 2011 performance compares to 1.28 trillion won in net profit posted a year earlier.The financial group also saw its total assets maintain the No. 1 position in the local financial industry.In a statement, Woori Financial said it has strived to reduce insolvent assets over the past four years since the 2008 global financial crisis.Meanwhile, Woori Financia
Feb. 16, 2012
-
Two private lenders suspended for 6 months
Major private money lenders in Korea were ordered Thursday to suspend their operations for six months for reaping illegal profits through “unfair” interest rates, officials said Thursday.Seoul’s Gangnam Ward office informed four private lenders, including market leaders A&P Financial and Sanwa Money, to halt their business operations between March 5 to Sept. 4, according to industry officials.The move comes after the local financial regulator vowed to overhaul the private money market amid growi
Feb. 16, 2012
-
Shares down 1.38 percent in post-rally breather
Korean stocks sank 1.38 percent Thursday as investors stepped to the sidelines after the previous session’s rally amid lingering market uncertainty, analysts said. The local currency fell against the U.S. dollar.Following a 1.13 percent jump a day earlier, the benchmark Korea Composite Stock Price Index tumbled 27.87 points to 1,997.45. Trading volume was heavy at 689.3 million shares worth 6.8 trillion won ($6 billion), with decliners outnumbering gainers 548 to 288.“Nagging eurozone woes and e
Feb. 16, 2012
-
Banks’ FX deposits jump on won’s ascent, Europe woes
Foreign currency deposits at South Korean banks jumped last month on the back of the local unit’s ascent against the U.S. dollar and the yen as well as worries about Europe’s debt crisis, data showed Thursday. Foreign currency deposits held by five commercial banks rose 10.3 percent in January from a month ago to $19.73 billion, according to the data.The January figure, compiled from Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank and the state-owned Industrial Bank of Korea, was a 38.5 percen
Feb. 16, 2012
-
KOGAS Q4 net soars on strong sales
State-run Korea Gas Corp. said Thursday that its fourth-quarter earnings more than doubled from a year earlier due to increased sales and higher prices of refined energy products.Net profit reached 94.7 billion won ($84 million) in the October-December period, compared with earnings of 45.2 billion won tallied a year earlier, the company said in a regulatory filing.Sales jumped 34.6 percent to 8.7 trillion won during the cited period, with operating profit climbing 53.2 percent to 362.1 billion
Feb. 16, 2012
-
Over half of households indebted to banks: poll
More than half of Korean households owed debts to local banks in 2011 as they borrowed money to help support living costs, a poll showed Thursday.According to the survey of 2,030 households by the Bank of Korea, 54 percent of them borrowed money from financial institutions as of December of last year. Among the surveyed households, 22.5 percent of them replied they had taken out fresh loans between July and December last year. Of the recently indebted households, 32.2 percent of them said they h
Feb. 16, 2012
-
Hana Financial strives to avoid KEB strike
Speculation rampant that two sides near compromise over mergerHana Financial Group chairman Kim Seung-yu has been striving to prevent the union of Korea Exchange Bank, which has been acquired by the group, from going on strike.While KEB unionized workers have threatened to stage an all-out strike, Kim held a low-key negotiation with leaders of the union on Thursday.According to a speculation, raised by an online news provider, the two parties reached an agreement, which includes that KEB will be
Feb. 16, 2012
-
Mercedes recalls 2,398 vehicles in Korea
Mercedes-Benz Korea is voluntarily recalling two years of diesel vehicles in Korea because of potentially faulty fuel filters that could lead to leaks, the Transportation Ministry said Thursday.Subject to the recall are 2,398 diesel cars manufactured between March 8, 2009 and May 31, 2011, according to the Ministry of Land, Transport and Maritime Affairs.Fuel leaks from the filters may cause a loss of control while driving and hazards for other vehicles by spilling fuel on the road, it said.The
IndustryFeb. 16, 2012
-
CJ Cheiljedang net surges in Q4
CJ Cheiljedang Corp., South Korea’s leading food company, said Thursday that its fourth-quarter earnings rose more than seven times from a year earlier due to a one-off sale of stock holdings.Net profit reached 132.7 billion won ($117.8 million) in the October-December period, up 626.6 percent from 18.2 billion won tallied a year earlier, the company said in a regulatory filing.Sales edged up 0.9 percent on-year to 159 trillion won in the cited period, and operating income gained 12.6 percent to
IndustryFeb. 16, 2012
-
POSCO inks MOU with Zimbabwe firm
POSCO, Korea’s leading steelmaker, said Thursday that it has signed a preliminary deal to buy a stake in a Zimbabwean ferrochrome-smelting firm as part of efforts to secure a stable supply of the key raw material.The deal with Gurta of Swiss and AnchorHoldings of Zimbabwe will allow POSCO to secure a stake in Maranatha Ferrochrome, Zimbabwe’s third-largest ferrochrome-smelting firm, the South Korean firm said.POSCO said details such as the value of the contract have yet been decided. POSCO impor
IndustryFeb. 16, 2012
-
Samsung faces U.S. class action lawsuit over defective TVs
U.S. consumers have filed class action suits against Samsung Electronics Co. as some of its TV models sold in the U.S. are found to have problems with power failures, the South Korean firm said Thursday.U.S. consumers have been complaining about some types of Samsung’s flat-screen TVs sold between 2006 and 2008 as they found problems with a power storage device called a capacitor, making it difficult for the TVs to power up.U.S. consumers have lodged class action lawsuits against the world’s lar
TechnologyFeb. 16, 2012
-
Hynix claims victory in Rambus antitrust law violation case
Hynix Semiconductor said Thursday that a U.S. court ruled in its favor against Rambus Inc., a U.S.-based technology licensing firm, in an antitrust law violation battle.The judge in the San Francisco court rejected allegations filed by Rambus that Hynix and Micron Technology were involved in a conspiracy ― manipulating the price of their memory chips and violating California’s antitrust law. “We welcome the decision reached by the court in the end of the first round and we will give our best eff
IndustryFeb. 16, 2012
-
Sheppard Mullin ambitious about Korea
Law firm chief says advance into Korea is part of its greater Asia practiceSheppard Mullin, U.S. legal adviser of Samsung Electronics and Hyundai Motor Co., will set up a Seoul office within the next few months as it joins a rush of U.S. law firms advancing into Korea, chairman Guy Halgren said.“We hope to be able to apply for a license within the next few weeks and then be approved in the next month or two after that. We will open the office this spring,” Halgren said in an interview with The K
Feb. 16, 2012
-
Doctors telling more adults: Get out and exercise
ATLANTA (AP) ― More and more U.S. adults are being told by their doctor to get out and exercise, according to government survey released Thursday.Nearly 33 percent of adults who saw a doctor in the previous year said they were told to exercise. That was up from about 23 percent in 2000, the Centers for Disease Control and Prevention reported.The report also found more women got that advice than men. And among people with chronic health problems, diabetics, were the most likely to get the advice
TechnologyFeb. 16, 2012
-
Family input to detect dementia earlier
WASHINGTON (AP) ― Alexis McKenzie’s mother had mild dementia, but things sounded OK when she phoned home: Dad was with her, finishing his wife’s sentences as they talked about puttering through the day and a drive to the store.Then their phone service was cut off. “I mailed that check,” McKenzie’s father insisted. No, he’d mailed the phone company a bank deposit slip instead. McKenzie visited and discovered spoiling food. Dad the caregiver was in trouble, too.Dementia can sneak up on families. I
TechnologyFeb. 16, 2012
-
Mouth ulcers and oral herpes
Aphthous stomatitis, commonly known as “thrush on the tongue,” is a disease where a shallow ulcer is formed in the mouth. Despite an unknown etiology, its occurrence is reportedly associated with the involvement of factors such as viral infection, bacterial infection, malnutrition, immune disorder, stress, trauma, generic factors, hormonal imbalance and other systemic diseases. It is therefore probable that the accumulated fatigue during summer might be one of the causative factors of common mou
TechnologyFeb. 16, 2012
-
Chemo safe for pregnant women
LONDON (AP) ― Researchers have encouraging news for women who find themselves in a very frightening situation: having cancer while pregnant. Studies suggest that these women can be treated almost the same as other cancer patients are, with minimal risk to the fetus.Only about 1 in 1,000 pregnant women face this dilemma, but doctors fear that more will because the risk of cancer rises with age, and more women are delaying having children until they’re older.Doctors have long worried about how to
TechnologyFeb. 16, 2012
-
Medical fees fixed for 7 procedures
From July, medical fees for seven procedures will be fixed and covered by the national health insurance scheme, the Ministry of Health and Welfare said Monday, as a committee of government officials, doctors and other field insiders approved the plan.The seven treatments are caesarian section, hysterectomy and cataract, hemorrhoid, tonsil, hernia and appendix removal.The plan will be applied at local clinics and small hospitals from July and will be extended to general hospitals and top-tier tea
TechnologyFeb. 16, 2012