Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Army takes group action against Hybe for neglecting BTS
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Debate rages over ‘overly fatty’ samgyeopsal
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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[Weekender] Korean psyche untangled: Musok
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Hankook Tire takes over control of Hanon Systems
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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S. Korea, Japan, China agree to create new financing facility against regional crises
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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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
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Banks cut down on household loans
Lenders turn to extending loans to large corporations with higher credit ratingsHousehold loans extended by Korean banks tumbled about 400 billion won ($359 million) over about two weeks this month, banking data showed on Monday.The drop in local lenders’ loans to households came as the major banks
Sept. 19, 2011
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Retailers rev up smart marketing
While most commuters waiting for trains chat with colleagues, read books or skim advertisements on subway platform doors, smartphone users on the bustling platforms of Seolleung Station in southern Seoul now have a new way to kill time: shopping. A simple click brings up the images of life-size stor
IndustrySept. 19, 2011
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‘Street Fighter IV’ to debut on LG’s HD smartphone
LG Electronics on Monday said it has inked a deal with Japanese game developer CAPCOM to release the popular video game “Street Fighter IV,” on its HD Android smartphones that is expected to be launched before the year is out. It will mark the first time for the game series to debut on an Android-po
IndustrySept. 19, 2011
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Korean firms grapple with Myanmar currency
Korean companies in Myanmar are wrestling with the Southeast Asian country’s strengthening currency as it increasingly chokes the viability of their exports, a report said Monday.Burma’s currency, the kyat, is rapidly climbing against the dollar and its counterparts in Asia, up about 30 percent from
IndustrySept. 19, 2011
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Hyundai, Kia divide roles in eco cars
Hyundai to focus on hybrids, Kia on electric vehiclesHyundai Motor Group plans to carry out a role-sharing between Hyundai Motor and its affiliate Kia Motors in developing eco-friendly cars.Hyundai Motor will take on developing models of “plug-in hybrids,” which utilize rechargeable batteries, and h
MobilitySept. 19, 2011
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‘Stalking’ phone app causes alarm
Spy software that can be installed in a smartphone to monitor the activities of the phone’s user has sparked controversy and drawn complaints to the company that makes it.The “Karelog” downloadable software application, released on Aug. 30, enables users to see the current whereabouts, phone call lo
TechnologySept. 19, 2011
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Gov't steps up efforts to calm markets, uneasy investors
SEOUL, Sept. 19 (Yonhap) -- South Korean financial regulators on Monday ramped up efforts to alleviate market concerns as deposit holders rushed to savings banks to check on their accounts and withdraw their money on fears the impact of the recent six-month suspensions will further hurt the ailing s
Sept. 19, 2011
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Scientists aim to create ‘inorganic life’
Scientists in Scotland are conducting pioneering research to create life from inorganic chemicals, Science Daily reported. Life on earth is based on organic biology in the form of carbon, while the inorganic world is considered inanimate. (University of Glasgow)A team of researchers at the Univ
TechnologySept. 19, 2011
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STX drops bid for Hynix stake
STX Group, a South Korean shipbuilding and shipping conglomerate, said Monday that it has decided to drop its bid to buy stakes in Hynix Semiconductor Inc., citing global uncertainties and the size of future investments needed to bolster competitiveness of the world's No. 2 memory chipmaker.STX Grou
IndustrySept. 19, 2011
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Individual retirement pension market likely to reach 82 tln won in 2030: report
SEOUL, Sept. 19 (Yonhap) -- South Korea's individual retirement pension market will likely reach 82 trillion won (US$72.4 billion) in 2030, an industry report showed on Monday.The country's financial regulator is planning to introduce the individual retirement pension scheme in July next year, under
Sept. 19, 2011
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Oil taxes more than half of gasoline price at pumps
SEOUL, Sept. 19 (Yonhap) -- Taxes levied on gasoline sold at local pumps accounted for 54.7 percent of consumer prices, a government report said Monday, fueling public demand for lowering oil taxes on petroleum products that have risen in recent months.According to the report submitted to the annual
Sept. 19, 2011
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Savings banks' massive illegal loans revealed
SEOUL, Sept. 19 (Yonhap) -- South Korean savings banks were discovered to have extended illegal loans to their major shareholders, financial regulators said Monday, angering depositors and fueling anxiety following the suspension of seven local savings banks.The data comes a day after the Financial
Sept. 19, 2011
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Hana SK Card's customer data leaked
SEOUL, Sept. 19 (Yonhap) -- Hana SK Card Co., a South Korean credit card firm, said Monday that some 200 customers' personal information has been leaked, the latest in a series of security breaches that are spurring concern about private data protection. The card firm, a joint venture between Hana F
Sept. 19, 2011
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KT to launch mobile payment service for iPhone
SEOUL, Sept. 19 (Yonhap) -- South Korea's telecom titan KT Corp. said Monday that it will roll out a new service for Apple Inc.'s iPhone, which will turn the smartphone into a mobile wallet for wireless financial transactions. The country's second-largest mobile operator plans to introduce a new sma
TechnologySept. 19, 2011
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S. Korean workers' real income growth slows amid high inflation: report
SEOUL, Sept. 19 (Yonhap) -- South Korean workers' monthly wages grew at a faster pace than other major economies last year, but inflation-adjusted income growth was behind other countries due to rising prices, a report showed Monday.South Korean workers' nominal wages came to 2.02 million won ($1,81
Sept. 19, 2011
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Nuclear reactors in S. Korea suffer numerous stoppages
SEOUL, Sept. 19 (Yonhap) -- South Korea‘s government said Monday that there were a total of 91 failures in operations of nuclear reactors in the country over the past 10 years due to mechanical glitches and other problems.In a report to the National Assembly, the Ministry of Knowledge Economy said t
IndustrySept. 19, 2011
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LG to release new smartphone with QWERTY keypad
LG Electronics Inc., the world's third-largest handset maker, said Sunday that it will launch a new smartphone model here in South Korea next week that targets young consumers who prefer computer-like QWERTY keyboards.The Optimus Q2 is equipped with a 1.2 GHz dual core processor, 4-inch display, 500
IndustrySept. 18, 2011