Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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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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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over 9,000 hotline calls made by stalking victims in 2023
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DP leader says he will meet Yoon without conditions
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Gori nuclear reactor resumes operation
South Korea on Friday resumed operation of a nuclear reactor recently shut down due to problems detected in its electric generator, plant operators said.The reactor at Gori Nuclear Power Plant in Ulsan, 410 kilometers southeast of Seoul, was expected to reach its full output early Saturday, following its resumption of operation at 5:50 a.m. Friday, according to the Korea Hydro & Nuclear Power Co.The state-run nuclear plant operator had to shut down the reactor with a capacity of 950,000 kilowatt
Dec. 16, 2011
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Household loans post highest growth in 11 months
Household loans offered by South Korean depository institutions posted the highest growth in 11 months in October on home loans, the central bank said Friday, complicating the government’s efforts to curb private sector debt.Household lending handled by local banks and non-bank institutions totaled 634.3 trillion won ($548 billion) as of the end of October, up 5.7 trillion won from the previous month, according to the Bank of Korea.The October data marked the largest monthly expansion since a 6.
Dec. 16, 2011
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Kia Motors grabs highest China market share in 6 years
Kia Motors grabs highest China market share in 6 yearsKicker: Kia‘s Morning named best city car in FranceKia Motors Corp. captured its highest share of the Chinese market in six years in November, gaining momentum in the world’s most populous market, company officials said Friday, Kia posted a China market share of 4.1 percent last month, the largest since October 2005 when it reached 4.7 percent.Kia achieved record China sales of 45,768 units last month with the newly launched mid-sized sedan
IndustryDec. 16, 2011
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Credit card firms rush to trim benefits for customers
Cut in card commission results in fewer perks for customersSouth Korea’s credit card firms in mid-October reluctantly announced they would lower the transaction fees they collect from restaurants and other shops due to growing public criticism.Now, credit card companies are fighting back by eliminating benefits for customers, a move that was widely expected but stings nonetheless.Credit card companies as well as card units of banks are taking steps to trim extra services for their customers in a
Dec. 16, 2011
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Regulators reject both bidders for fourth mobile operator
KMI and IST fail to pass, clouding outlook over new impetus to wireless sectorThe Korea Communications Commission said on Friday it would not issue wireless carrier licenses to Internet Space Time and its rival Korea Mobile Internet. Both IST and KMI failed to secure 70 points or higher in the screening process, dimming their hopes to become the country’s fourth mobile carrier. Currently, the domestic market is dominated by SK Telecom, KT and LG Uplus. The KCC held a judging committee meeting ea
TechnologyDec. 16, 2011
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Seoul shares up on U.S. data
South Korean stocks closed 1.15 percent higher on Friday as stronger U.S. jobs data eased concerns about the recovery of the world’s largest economy, analysts said.The local currency rose against the U.S. dollar.The benchmark KOSPI rose 20.85 points to 1,839.96, breaking the third straight session of falls. Trading volume was moderate at 483.5 million shares worth 4.3 trillion won ($3.7 billion) with gainers outpacing losers 492 to 342.“Better-than-expected data on U.S. job markets gave some sol
Dec. 16, 2011
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Korea ups fight against electricity shortage
Local banks and companies were joining the government’s power-saving crusade as freezing weather gripped Korea on Friday, sparking fears of a supply shortage.Subject to a 10-percent mandatory cut in demand and heating limits, most energy-intensive companies have already written their own measures to curtail electricity consumption including power protection systems and backup generators.“We’re trying to curb unnecessary consumption as much as possible because electricity makes up a large part of
IndustryDec. 16, 2011
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Angel-in-us bottled coffee most caffeinated
Angel-in-us sells the most caffeinated bottled coffee at convenience stores, while Starbucks coffee has the most caffeine among takeaway drinks, Korea Consumer Agency said Friday. A bottled latte from the Lotte Group owned Angel-in-us contained 63 milligrams of caffeine per 100 milliliters, the highest among 20 bottled and canned coffees sold at convenience stores. A bottled mocha from Angel-in-us contained 62 milligrams of caffeine and its caramel macchiato had 46 milligrams of caffeine per 100
IndustryDec. 16, 2011
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iPhones guide artillery fire as Pentagon plans app store: tech
At Camp Blessing in Afghanistan’s Pech Valley, some American soldiers played “Angry Birds” on their iPhones when off-duty. Jonathan Springer decided to put his device to a different use: building an app to help fight the Taliban. “I wanted to give something back to soldiers that might help save thei
TechnologyDec. 16, 2011
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Doomed gas cloud rushing toward black hole: study
Astronomers have spied a giant gas cloud with several times the mass of Earth accelerating toward the supermassive black hole at the centre of our own Milky Way galaxy.The doomed cloud has a rendezvous with oblivion in mid-2013, when it will pass within 40 billion kilometres -- a hair's breadth on a
TechnologyDec. 16, 2011
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Middle class squeezed as household income drops: survey
About 37% said they read newspapers every dayKoreans who perceive themselves as middle class are on the decline as more households experienced a continued slide in income, a state-run survey said Thursday.Statistics Korea said its nationwide survey from a pool of 38,000 people found that people who thought of themselves as middle class shrank to 52.8 percent, down 2.1 percent from its 2009 figure. More categorized themselves in the low-income basket at 45.3 percent, up 2.9 percent from two years
Dec. 15, 2011
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Malaysian acid attack victim to get new face in Korea
A group of Korean plastic surgeons will restore the face of a 19-year-old Malaysian woman who was severely scarred in an acid attack. The surgery will be part of the Ministry of Health and Welfare’s Medical Korea project that provides pro bono surgery to foreign patients in need of state-of-the-art procedures. The patient, Tan Hui Linn, arrived at Seoul on Wednesday evening and had a medical consultation with JK Plastic Surgery Center in southern Seoul the next day. Based on examination results,
TechnologyDec. 15, 2011
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LGE, Intel join hands for smart TV
LG Electronics Inc., the world’s second-largest maker of flat-screen TVs, said Thursday that it has agreed to collaborate with Intel Corp. to use the U.S. chipmaker’s wireless display technology in smart TVs. The result of their partnership will be introduced in the market during the first quarter of next year, LG Electronics said, in a form of Web-connected TVs that can play content from laptop computers and mobile devices. Intel is seeking to expand the number of hardware partners to adopt its
TechnologyDec. 15, 2011
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Hyundai Motor set to overtake Samsung Group in earnings
South Korea’s top automotive group Hyundai Motor Group is expected to post bigger earnings this year than Samsung Group, the country’s biggest family-controlled conglomerate, data showed Thursday.The combined earnings of Hyundai Motor Group’s eight listed affiliates are projected to reach 18.05 trillion won ($15.56 billion) this year, compared with 17.75 trillion won of 12 Samsung Group affiliates, according to the data by financial data provider FnGuide.It will mark the first time that the auto
IndustryDec. 15, 2011
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Privatization of Korea Aerospace runs into opposition from union
Korean Air, Hyundai Heavy, Hanwha, Samsung Techwin eyeing aircraft makerThe planned privatization of Korea Aerospace Industries has hit a snag with opposition from the labor union which wants the company to be a public corporation.The labor union of the state-funded aircraft maker has decided to obstruct a visit by the president of Korea Finance Corporation, KAI’s largest shareholder, scheduled for next week. The KoFC got KAI listed last June, making it possible to sell off the major shareholder
IndustryDec. 15, 2011
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Ministry aims to create 30,000 jobs for youth
SMBA set to spend W1tr to help youth start new businessesThe Ministry of Knowledge Economy said it plans to create 30,000 new jobs for young people next year by hiring more for research and development, and kick-start a project to foster 3,000 small and medium-sized companies that hire 1.2 million people by 2015.The ministry will also spend 1.7 trillion won next year alone to stabilize the power supply and have the Korea Electric Power Corporation replace obsolete equipment, according to an ann
Dec. 15, 2011
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LG Electronics unveils Prada Phone 3.0
LG Electronics said on Thursday that it will release Prada Phone 3.0 in Korea as early as this month, drawing attention to whether the new smartphone will be able to help the company expand its sales of mobile devices.Prada Phone 3.0, the third smartphone jointly built with Prada, comes three years after its second LG-Prada model was released in 2008.The officials said that Prada Phone 3.0 could be sold in the domestic market this year, a month earlier than initially expected. The launch date in
TechnologyDec. 15, 2011
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Shares end 2.08% lower on eurozone debt fears
South Korean stocks closed 2.08 percent lower on Thursday as foreign investors dumped local stocks on nagging concerns about Europe’s debt crisis, analysts said. The local currency fell against the U.S. dollar for the sixth straight session.The benchmark KOSPI trimmed 38.64 points to 1,819.11. Trading volume was moderate at 402.3 million shares worth 5.31 trillion won ($4.57 billion), with losers outpacing gainers 658 to 178.“Contagion fears about Europe’s debt crisis gripped investor sentiment.
Dec. 15, 2011
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Koreans’ ability to repay debt falls to new low
South Koreans’ capacity to repay debt worsened to the lowest level in more than two years in the third quarter as falling share prices cut the value of their assets amid growing debt, the central bank said Thursday.The ratio of financial assets held by households and nonprofit organizations to debt, a gauge of their capacity to redeem debt, came in at 2.07 as of the end of the third quarter, down from 2.15 in the second quarter, according to the Bank of Korea.The third-quarter data marked the lo
Dec. 15, 2011
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Household loans by non-bank financial firms close to 300 trillion won
Korea’s non-bank financial firms rapidly increased their share in the household loan market, seeing their combined total reach nearly 300 trillion won ($259 billion) and even outpacing banks, data showed on Thursday. The non-bank financial companies refer to savings banks, credit card operators, and insurance firms, and their household loan expansion in recent months is viewed by authorities as an additional risk factor to the country’s broader household debt situation. The size of non-bank fina
Dec. 15, 2011