Most Popular
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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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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Hybe's multilabel system tested amid conflict with Ador
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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EUCCK teams with shamans for successful year
The European Union Chamber of Commerce in Korea held a special event last week by inviting Korean shamans to wish for good luck for its member companies this year.The event was organized with several intentions, first to strengthen the EUCCK’s relationship with Korean society by showing their respect for a piece of the country’s history and culture. “Today it was a momentous moment because I had comments from people who had attended this kind of ceremony for tourists and felt how authentic it wa
Feb. 13, 2012
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S. Korean team develops new artificial antibody
A team of South Korean scientists has developed an artificial antibody that is significantly more effective but cheaper than conventional antibody drugs, the team said Monday.The new antibody, named Repebody, is manufactured by manipulating the structure of protein and can be custom-made to meet any needs, it said.The simple manufacturing method enables mass production of the antibody, which will likely cut the price of new products to be developed to only 1 percent of existing antibody drugs, w
TechnologyFeb. 13, 2012
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Sheppard Mullin ambitious about Seoul opening
Sheppard Mullin ambitious about Seoul openingKicker: Law firm chief says advance into Korea is part of its greater Asia practice By Cynthia J. KimSheppard 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 wil
Feb. 13, 2012
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Foreign chambers offer advice on how to get jobs
‘Global firms look for responsive, creative, trustworthy candidates’With Korea’s youth unemployment rate hovering at 6.7 percent, foreign chambers of commerce here have offered advice and guidance on ways young people can break into multinational or foreign companies.During the annual career development forum last week, the foreign business chambers discussed the persistent youth unemployment issue in Korea. “We are doing this as a (corporate social responsibility) activity from all the chambers
Feb. 13, 2012
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Peru to show agro-fishery delights at Yeosu Expo
For Peru, the Yeosu Expo will be a rare opportunity to showcase its agro-fishery and gastronomical delights.“For us, this expo is important because we want to show our innovation, scientific investigations we are making toward the utilization of the sea, but also the preservation of the richness of the sea,” said Alberto Massa, Peru Commissioner General for Yeosu Expo. Peru’s economy reflects its varied geography with its coastal waters providing excellent fishing grounds.A couple of products th
Feb. 13, 2012
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Space colony imminent? NASA eyes lunar “outpost” plan
(NASA)NASA is pushing for a plan to establish “human-tended waypoint” near the far side of the moon -- one that would embrace international partnerships as well as commercial and academic participation, SPACE.com reported Friday.A team is being formed to develop a cohesive plan for exploring a spot
TechnologyFeb. 13, 2012
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Overeating may double risk of memory loss
(MCT)New research suggests that consuming between 2,100 and 6,000 calories per day may double the risk of memory loss, or mild cognitive impairment (MCI), among people age 70 and older. The study was released today and will be presented at the American Academy of Neurology's 64th Annual Meeting in N
TechnologyFeb. 13, 2012
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NTS likely to order Samsung to pay additional tax
South Korea's tax agency will likely order Samsung Electronics Co. to pay at least 100 billion won (US$89.04 million) in unreported tax and related penalties, sources said Monday.The order will be made soon as the National Tax Service (NTS) is wrapping up its regular tax audit this week into the nat
IndustryFeb. 13, 2012
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Hana Financial inks deal to buy stakes in U.S. lender
Hana Financial Group Inc. said Sunday that it has signed a deal to buy majority stakes in a U.S.-based lender in a bid to expand its presence in the United States.Under the memorandum of understanding with Saehan Bancorp, the South Korean banking group will purchase newly issued shares to secure a 5
Feb. 12, 2012
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Policymakers oppose capital gains tax hike
Economists and policymakers supervising the market have opposed lawmakers’ idea of taxing investors more on stock trading and dividends, saying it is likely to do more harm than good.The ruling Saenuri Party, formerly the Grand National Party, is currently pushing to widen taxable investment income by levying a top rate of 38 percent on those making annual investment returns of more than 30 million won. The 38 percent rate is currently levied on those with annual investment income of more than 4
Feb. 12, 2012
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Medical fair expects deals worth $470m
Nearly 1,000 companies from 30 countries will showcase their latest medical equipment and health care technologies at a trade show in Seoul starting Thursday.The Korea International Medical Hospital Equipment Show 2012 is the country’s largest exhibition for the burgeoning industry, co-hosted by Korea E & EX, the Korea Medical Devices Industrial Cooperative Association and the Korea Medical Devices Industry Association at COEX in southern Seoul.During the four-day event, about 60,000 local profe
IndustryFeb. 12, 2012
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iPad sales surpass 1 million in Korea
Apple is estimated to have sold more than 1 million iPad tablet computers in the Korean market, outpacing its local rival Samsung Electronics’ Galaxy Tab by a wide margin. Apple’s iPad debuted here on Nov. 30, 2010 and its sequel iPad 2 was introduced on April 29 last year. About 700,000 units were sold last year alone, dominating the nascent tablet computer market here.Given that many early adopters bought iPad even before the product was formally available on the local market, the actual numbe
TechnologyFeb. 12, 2012
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Japan features coexistence with ocean at Yeosu Expo
Japan plans exhibitions themed around its people’s coexistence with the ocean at the Yeosu Expo, which opens on May 12. The Japan Pavilion, which will be the largest exhibition space for foreign countries taking part in the world fair, expects about 800,000 visitors during the three-month expo, or 10 percent of the total number of people projected to see the fair. “We plan to introduce the wisdom and technologies of the Japanese people who have coexisted with the ocean, and accepted both the ben
Feb. 12, 2012
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Retail giants spur online expansion
Korea’s major retailers are stepping up their forays into online marketplaces as they seek a fresh growth driver in the face of tightening regulations and stiff competition on their home turf. Lotte Shopping, Shinsegae Group, Homeplus and GS Retail are bolstering their Web and mobile businesses by opening virtual stores and improving services such as in-store pickup options and faster deliveries. The e-commerce market, dominated by a host of online vendors such as Auction, Gmarket and 11st, is e
IndustryFeb. 12, 2012
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Chaebol credit ratings inflated
The corporate credit ratings for Korean conglomerates and their affiliates have gone up amid growing worries over the neutrality and credibility of local credit ratings agencies, data showed Sunday. Korea’s three major ratings agencies ― NICE Investors Service, Korea Investors Service and Korea Ratings ― have issued more upgrades than downgrades, boosting the up/down ratio for corporate credit ratings to 3.4, according to the Korea Capital Market Institute. A ratio above 1 means upgrades outnumb
Feb. 12, 2012
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Ulleungdo benefits from LG Uplus LTE network coverage
ULLEUNGDO, North Gyeongsang Province ― Ulleungdo, an island 120 kilometers off the east coast, only has a population of about 10,000. It is, however, one of the first islands equipped with fourth-generation Long Term Evolution communications technology, which improves network speed for wireless gadgets.“We have completed the LTE network for 84 different cities in December and we’re planning to provide nationwide coverage by the end of March,” said Kwon Joon-hyuk, vice president of networks at LG
IndustryFeb. 12, 2012
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Seoul shares set to expand gain this week
South Korean stocks may expand their gain this week, buoyed by lessening eurozone default risks, local analysts said Saturday.The benchmark KOSPI closed on Friday at 1,993.71, up 1.4 percent from a week earlier.The index surpassed the keystone 2,000 mark for the first time in six months during the weekly trading session, although it lost some ground on Friday as investors remained cautious that a bailout deal for Greece may not end Europe’s fiscal woes.Market watchers said there are some downsid
Feb. 12, 2012
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Korea remains world’s top derivatives market
South Korea retained its position as the world’s largest financial derivatives market in terms of trading volume last year, claiming 27 percent of total trading volume, data showed Sunday.The trading volume of financial derivatives, such as futures and options, on the local bourse gained 4.4 percent on-year to 3.81 billion contracts, according to the data from the World Federation of Exchanges. In the same period, global trading volume jumped 9.4 percent to 14.14 billion contracts.The on-year in
Feb. 12, 2012
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Jobs at 8 Korean firms increase 8.7% in 2011
The number of jobs at eight South Korean conglomerates rose 8.7 percent last year as companies acquired affiliates and expanded into new business areas, data showed Sunday.The tallied conglomerate groups, including tech behemoth Samsung and auto giant Hyundai Motor, employed 622,000 people as of the end of 2011, compared with 572,000 the previous year, according to the data they provided to Yonhap News Agency.The eight conglomerate groups are Samsung, Hyundai Motor, SK, LG, POSCO, Hyundai Heavy
Feb. 12, 2012
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FSS to host meeting for foreign firms
The Financial Supervisory Service is scheduled to hold an annual conference with foreign and local financial companies in March.The meeting, dubbed FSS SPEAKS, is particularly designed to provide foreign financial services firms with more detailed information on Korea’s market conditions, including stock and bond investments.Since its inaugural meeting in 2009, the meeting has established itself as a leading channel for direct communication between market participants and regulatory officials.“T
Feb. 12, 2012