Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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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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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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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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Shares up on foreign buying
Korean stocks finished 0.12 percent higher Wednesday as foreign investors snapped up tech and auto exporters, but gains were trimmed by institutional selling, analysts said. The local currency rose against the U.S. dollar.After rising as much as 1.2 percent, the benchmark KOSPI gained 2.34 points to 1,952.23.Trading volume was moderate at 372 million shares worth 6.07 trillion won ($5.39 billion) with gainers leading losers 421 to 401. “Apple’s earnings surprise was a positive impact on the loca
Jan. 25, 2012
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Korea ranked 29th in globalization: report
Korea has been ranked the 29th most globalized country in the world, up four spots from last year, a study by consulting firm Ernst & Young said Wednesday.The latest ranking places Korea ahead of China (39th) and Japan (40th). Korea is now the fourth most globalized nation in Asia, after top-ranking Hong Kong, third-place Singapore and 12th-ranked Taiwan.“The process of globalization paused a little with the 2008 financial recession, but it is accelerating again with the sharing of technological
Jan. 25, 2012
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Ministry creates bureau on low birth rate, aging
The Finance Ministry created a new bureau tasked to tackle demographic challenges related to the aging population and low fertility rates, it said on Monday.Dubbed the Bureau of Future Strategy, the new team will be at Seoul’s central tower developing policy responses for the country’s long-term challenges threatening the sustainability of public finances.“Long-pending questions about the aging society and other demographic issues haven’t been getting proper attention. The new team will organize
Jan. 25, 2012
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Korean firms’ direct financing soars in 2011
Companies raise record 143 trillion won with stock and bond issuancesKorea’s direct financing surged last year as local firms rushed to secure extra capital in the face of the worsening eurozone fiscal crisis, data showed Wednesday. According to the Financial Supervisory Service, Korean companies raised a record 143.39 trillion won ($126.31 billion) in 2011 through stock and bond issuances, up 16.3 percent from 123.26 trillion won tallied the previous year. The sharp increase came as Korean comp
Jan. 25, 2012
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Carriers race to grab LTE market
Korea’s top mobile carrier SK Telecom Co. and other industry players are ramping up efforts to claim a bigger share of the fast growing long-term evolution market deemed a future money spinner, market watchers say.The LTE service, or the fourth-generation of wireless technology, enables smartphone users to access a stream of data faster than the current 3G network and download and watch movies more quickly.In a country where four out of 10 people use smartphones, SK Telecom and two other carrier
TechnologyJan. 25, 2012
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Samsung, Apple anxious over upcoming verdict in Germany
A win for the Korean tech giant in patent lawsuits could see iPhone sales banned in the European countryAttention is on a German court’s second ruling regarding Samsung Electronics and Apple Inc.’s ongoing patent dispute, scheduled to be made this Friday.This comes shortly after Samsung lost a patent infringement suit against its American rival over third-generation wireless telecommunications standards at a Mannheim court in Germany last Friday. The ruling was the first in a series of patent ca
TechnologyJan. 25, 2012
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Euro breakup would cause global ‘meltdown, Soros warns
Billionaire George Soros said “the euro must survive because the alternative, a breakup, would cause a meltdown that Europe, the world, can’t afford,” Newsweek Magazine reported, citing an interview in New York ahead of his participation at the World Economic Forum in Davos. George Soros (Bloom
Jan. 25, 2012
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Fold-up car of the future unveiled at EU
BRUSSELS (AFP) - A tiny revolutionary fold-up car designed in Spain's Basque country as the answer to urban stress and pollution was unveiled Tuesday before hitting European cities in 2013.The "Hiriko", the Basque word for "urban", is an electric two-seater with no doors whose motor is located in th
MobilityJan. 25, 2012
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‘Magnetic’ soap could clean oil spills
British researchers say a new magnetic soap could be used to help clean up oil spills by applying a magnetic field to areas containing the soap.The new formulation is similar to ordinary soap but contains iron atoms which can help form tiny particles that are easily removed magnetically, they said.“
TechnologyJan. 25, 2012
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LG Electronics wins fridge patent dispute with Whirlpool
LG Electronics Inc., South Korea's leading consumer electronics maker, said Wednesday that it won a patent dispute with Whirlpool Corp. over technology used in refrigerators.In 2009, Whirlpool, a major American producer of home appliances, filed complaints against LG Electronics with the U.S.Patent
IndustryJan. 25, 2012
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Starbucks to add wine at more cafes to lure evening diners
Starbucks Corp. (SBUX), the world’s largest coffee-shop chain, will sell beer and wine at more locations to lure customers during the slower afternoon and evening hours. Customers sit in a Starbucks Corp. coffee shop in New York, U.S., on Friday, Dec. 9, 2011.(Bloomberg)The chain, which first s
IndustryJan. 25, 2012
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Solar storm sparks dazzling northern lights
STOCKHOLM (AP) — A storm from the broiling sun turned the chilly northernmost skies of Earth into an ever-changing and awe-provoking art show of northern lights on Tuesday.Even experienced stargazers were stunned by the intensity of the aurora borealis that swept across the night sky in northe
TechnologyJan. 25, 2012
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Scorsese's 'Hugo' leads Oscars with 11 nominations
BEVERLY HILLS, California (AP) _ Martin Scorsese's Paris adventure ``Hugo'' leads the Academy Awards with 11 nominations, among them best picture and the latest director nod for the Oscar-winning filmmaker. 'Hugo', pictured in this scene from the film was nominated for best motion picture for t
TechnologyJan. 25, 2012
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IMF cuts global growth on intensifying risks
The International Monetary Fund has lowered the world’s 2012 economic growth to 3.3 percent, down from its September projection of 4.0 percent, citing the faltering global recovery and greater risks.“The global recovery is threatened by intensifying strains in the euro area and fragilities elsewhere. Financial conditions have deteriorated, growth prospects have dimmed, and downside risks have escalated,” the IMF said in its update of the World Economic Outlook.The IMF said the downward revision
Jan. 25, 2012
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Korea, Bermuda to exchange tax info
NEW YORK (Yonhap News) ― Korea signed a bilateral agreement Monday with Bermuda on the exchange of tax information which officials said would serve as a stepping stone for the improvement in the two countries’ relations.South Korea proposed the Tax Information Exchange Agreement with Bermuda, known as a major tax haven in the North Atlantic Ocean, in 2009.“This pact, the first between South Korea and Bermuda, will be an important starting point for the development of ties between the two sides,”
Jan. 24, 2012
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SaKong to attend WEF as Lee’s special envoy
SaKong Il, chairman of the Korea International Trade Association, will attend the World Economic Forum in Davos, Switzerland, as President Lee Myung-bak’s special envoy from Wednesday through Sunday, KITA said Tuesday.Some 2,500 people from 90 countries including about 30 heads of states, 80 minister-level officials, 20 heads of international organizations, chief executives of private companies and academics are expected to attend the annual conference themed “the Great Transformation: Shaping N
Jan. 24, 2012
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Korea to fight U.S. anti-dumping probe on washing machines
Korea said Saturday that it will fight a planned U.S. government probe into alleged dumping of Korean washing machines in its market, voicing strong objection to the investigation triggered by a complaint from Whirlpool Corp. On Friday, the U.S. Commerce Department announced its plan to probe allegations that Samsung Electronics Co. and LG Electronics Inc. sold their washing machines to U.S. customers at unfairly low market prices. Korea’s Ministry of Foreign Affairs and Trade said in a statemen
Jan. 24, 2012
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Shares seen rallying this week
Korean stocks will likely extend their gains next week and approach to 2,000 points on the back of continued foreign buying and easing fears over the eurozone debt crisis, analysts said Saturday.Last week, the KOSPI rose 3.95 percent from the previous week to 1,949.89, closing at its highest level since the first-ever downgrade of U.S. sovereign rating on Aug. 5.The weekly gain came as France and Spain’s strong debt auctions helped stave off investor concerns following eurozone sovereign rating
Jan. 24, 2012
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Elderly concerned most about finances, health: survey
Aging Koreans cited economic difficulty and health as their biggest concerns, but the weight of their worries varied according to their education levels, a report showed Monday.In a survey of 60-year-olds by Statistics Korea, 43.2 percent of the respondents with elementary education picked economic difficulty as their top concern. Health closely followed at 40.5 percent, while unemployment and loneliness each stood at 4.7 percent and 4.3 percent.In contrast, 40.5 percent of the respondents with
Jan. 24, 2012
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Big brokerages earn half of profit from stock commissions
Major South Korean securities firms reaped more than half of their commission income from stock consignments in the fiscal first half, with the stock commission profits of the top 10 players exceeding 100 billion won ($88 million) on average, data showed Monday.The commission profits that 62 local securities firms earned by selling and buying stocks for their customers totaled 2.94 trillion won in the April-September period, accounting for 70.3 percent of their total commission income, according
Jan. 24, 2012