Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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S. Korean children, teens grow taller, mature faster than before: study
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Army takes group action against Hybe for neglecting BTS
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Some junior doctors are returning: Health Ministry
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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Debate rages over ‘overly fatty’ samgyeopsal
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Woman dangling from power lines rescued by residents holding blanket
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[Weekender] Korean psyche untangled: Musok
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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
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Prioritizing people a ‘key strategy’
Leo Burnett Korea chief aims to support companies to go globalMcDonald’s Korea launched its coffee brand McCafe in 2009, but sales struggled amid the growing popularity of specialty coffee houses like Starbucks. For young women working in offices, who led the new trend of sipping a cup of brand coffee, the half-priced McCafe appeared to be not enough to satisfy their appetite for luxury. Then a television commercial changed the game. The ad, made by Leo Burnett Korea, featured consumers who par
IndustryJan. 24, 2012
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Shinhan to launch ‘bank plus brokerage’ business
CEO says lender leading Korean banks’ globalization with 59 network channels in 14 nationsShinhan Bank plans to offer high-end financial products by launching an upgraded business sector this year that connects the commercial bank and its brokerage affiliate.“We are about to introduce the independent business sector. It is designed to elevate synergy between Shinhan Bank and Shinhan Investment Corp.,” bank president & CEO Suh Jin-won told The Korea Herald.While the bank and the securities firm o
Jan. 24, 2012
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Drug makers bet on novel products to tackle difficulties
Generic manufacturers boost R&D and biomedicine, stem cell research sees upturnSoaring research costs, rampant illicit rebates and a gushing inflow of multinational drug giants following free trade pacts have come together to ignite the biggest crisis in years in Korea’s pharmaceutical industry.Heaping further pressure is the government’s push to slash drug prices and its sweeping crackdown on unfair trade practices, as well as economic uncertainties stemming from Europe. To tackle the daunting
IndustryJan. 24, 2012
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Hyundai, Kia tops U.S. automobile industry performance scoreboard
Korea’s Hyundai Motor Co. and Kia Motors Corp. topped last year’s U.S. auto market performance scoreboard, a report by a consumer data provider showed Tuesday.U.S.-based TrueCar.com said Hyundai and Kia ranked No. 1 in its 2011 Annual Performance Scoreboard that checks such areas as sales growth, market share and customer brand loyalty.It said the two carmakers, which are the flagship companies of Hyundai Motor Group, the world’s fifth largest automotive conglomerate, received an average “A-plus
MobilityJan. 24, 2012