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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Hynix sale to go ahead as scheduled
Auction will be carried out with SKT as sole bidderCreditors of Hynix Semiconductor Inc. have decided to continue with selling the company on schedule, Korea Exchange Bank said Tuesday.After STX Group pulled out of the bid on Monday, market watchers had raised concerns that the process would be dela
IndustrySept. 20, 2011
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Savings banks to tap public funds soon
Suspended banks are expected to be auctioned off in the coming monthsFinancial regulators will inject taxpayers’ money, projected at about 500 billion won ($454 million), into the distressed savings banking sector by the end of this year.Under the policy of the Financial Services Commission, the Kor
Sept. 20, 2011
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Design helps cities gain more environmental sustainability
Following is the third in a series of interviews with world’s top designers and scholars who will participate in the Herald Design Forum in Seoul from Oct. 5 to Oct. 6. ― Ed.Richard Register is an American specialist in ecological city design and planning who created the term “ecocity” in the late 1
IndustrySept. 20, 2011
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Hyundai Group to enter telecom market
Conglomerate mulls joining consortium formed by SME associationHyundai Group is poised to once again try its hand in the information and communication industry, as the company was found to have decided to participate in a consortium seeking to set up a telecom service provider. Hyundai is considerin
IndustrySept. 20, 2011
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Korean to lead Ethiopian university
A retired professor of Seoul National University has been appointed president of Adama Science and Technology University in Ethiopia, making him the first South Korean university president in Africa. Lee Jang-gyu, 65, former professor of electrical engineering, is expected to begin his five-year ter
TechnologySept. 20, 2011
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Italian scientists go on trial over 2009 earthquake
L'AQUILA, Italy (AFP) - A group of Italian scientists went on trial Tuesday for failing to predict an earthquake that killed more than 300 people in central Italy in 2009 despite signs of increased seismic activity in the area.The seven defendants -- six scientists and one government official -- are
TechnologySept. 20, 2011
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Seoul begins taking blackout damage claims
The South Korean government began accepting claims Tuesday from businesses who suffered losses from blackouts caused by low electricity reserves last week.A total of 167 claims had already been filed at 294 centers throughout the nation, according to the Ministry of Knowledge Economy.The government
IndustrySept. 20, 2011
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World’s cheapest car now covered with gold, jewels
The Indian automobile giant Tata Motors unveiled the latest version of its signature Nano car crafted in gold, silver and gemstone on Monday in Mumbai.The jewel encrusted GoldPlus Nano is covered in 80 kilograms of 22 carat gold and 15 kilograms of silver, according to local reports. It also fe
IndustrySept. 20, 2011
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NASA: Satellite pieces to hit Earth in a week
WASHINGTON (AP) – U.S. space officials say they expect a dead satellite to fall to Earth in about a week.NASA has been watching the 6-ton satellite closely. On Friday officials moved up their prediction for its arrival to Sept. 23, give or take a day.NASA scientists have calculated the satelli
TechnologySept. 20, 2011
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US economy may not recover as fast as expected: BOK chief
SEOUL, Sept. 20 (Yonhap) -- South Korea's top central banker said Tuesday that the U.S. economy may not recover as fast as expected because its real economic sectors have yet to rebound.Bank of Korea (BOK) Gov. Kim Choong-soo said in a monthly meeting with experts that currently, the real economy an
Sept. 20, 2011
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Sales at discount chains, department stores grow in Aug.
SEOUL, Sept. 20 (Yonhap) -- Sales at South Korea's major discount chains and department stores rose from a year earlier in August on growing demand for food and daily household products ahead of a major holiday, a government report showed Tuesday.By lunar calendar, Sept. 12 was Chuseok, the Korean e
IndustrySept. 20, 2011
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S&P downgrades Italy's credit rating a notch
NEW YORK (AP) — Standard & Poor's Ratings Services has downgraded Italy's credit rating by one notch, saying it sees weakening economic growth prospects for the nation and higher-than-expected levels of government debt.S&P said Monday it cut Italy's long- and short-term sovereign credit rating
Sept. 20, 2011
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STX Group drops out of bids for Hynix Semiconductor
STX Group dropped out of the bid for Hynix Semiconductor on Monday.The group, which was bidding for the world’s second-largest chipmaker against SK Telecom, said that the plans were scrapped due to global economic instability and for fears that the large investment required to strengthen Hynix’s ope
IndustrySept. 19, 2011
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Banks avoid massive withdrawals
Regulators uncover illegal lending by some savings banksDespite initial concerns that customers would withdraw their deposits en masse, the banking sector’s overall business operation looked normal, government and bank officials said on Monday.They said there were no particular signs of a bank run i
Sept. 19, 2011
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Debt-ridden KEPCO dishes out pay raises
The state-run Korea Electric Power Corp. is facing fresh criticism as reports found on Monday that the utility and its subsidiaries doled out hefty salary increases for employees last year despite their multi-trillion won debt.According to a report submitted by the Ministry of Knowledge Economy for
IndustrySept. 19, 2011
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Firms warned over unfair business with subcontractors
The Fair Trade Commission on Monday issued warnings against Lotte Engineering and Construction and LS Cable and System for unfair business practices with subcontractors. In January 2009, Lotte delayed writing a contract for six months even after its subcontracting company started construction work.
IndustrySept. 19, 2011
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FTC to probe retailers on luxury brand commissions
The Fair Trade Commission plans to investigate commission fees at the nation’s top three department stores next month, an official said Monday. The investigation is allegedly aimed at Lotte, Shinsegae and Hyundai department stores that have given favors to foreign luxury brands with lower fees, the
IndustrySept. 19, 2011
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Korea’s total financial debt snowballing
Korea’s three major economic pillars ― the public sector, households and corporations ― have incurred 3,300 trillion won ($2.96 trillion) in financial debt as of June, threatening to undermine efforts to fuel Asia’s fourth-largest economy. The record amount of financial loans shouldered by key playe
Sept. 19, 2011
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Government under pressure to lower 2011 growth forecast
South Korea’s government is coming under pressure to adjust its 2011 growth forecast in the face of mounting downside risks caused by the sluggish global economy, sources said.The prediction comes as the finance ministry cut this year’s growth estimate from 5.0 percent to 4.5 percent in June and fol
Sept. 19, 2011
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Hana SK Card information leaked
Hana SK Card said the personal information of about 200 of its customers has been compromised by a telemarketer, the latest in a series of data leaks at financial institutions.The Financial Supervisory Service, however, said the leak would be of a far larger scale than reported by the credit card co
Sept. 19, 2011