GUANGZHOU, China (DPA) ― The first Chinese cars built in Europe started rolling off the conveyor belt this year when Great Wall Motor Co. Ltd. built a plant in Bulgaria together with Litex Motors.The Voleex C10 was the first vehicle off the assembly line of the plant near the town of Lovech last week with tests of the production facilities and installations set to continue for the rest of the year before the first sales are launched at the beginning of 2012.The Hover H5 sports utility vehicle an

MobilityNov. 27, 2011

Seoul St. Mary’s hospital is a flagship medical institution of the Catholic Medical Center, which boasts one of the largest medical networks containing eight subsidiary hospitals and seven research centers in Korea. It has 1,320 beds, 43 clinical departments, 756 doctors and 1,700 nurses seeing 6,000 outpatients a day. The hospital is known for its optical, joint and bone marrow transplant surgeries. To enhance patient safety, the hospital has acquired ISO 9001 certification on product safety, a

TechnologyNov. 27, 2011

There is no doubt that Seoul National University Hospital has been a leader here with its top-tier workforce stressing research and development as well as clinical practice. It is now committed to providing world-class medical education, research and patient care. Having led in diagnosis for almost a century, the hospital has stepped up efforts to lead the medical field as well with its cutting-edge equipment and the brand new cancer treatment center next to the main building. With the new build

TechnologyNov. 27, 2011

Medical envoys of Abu Dhabi expressed Friday hope that their government’s pact with Korea on patient referrals and transfers will help improve their country’s infrastructure for better medical healthcare. According to the World Health Organization, the population of the United Arab Emirates reached 4,599,000 in 2009, and is growing 4.1 percent annually. About 78 percent of the population resides in urban areas. The majority of the population is quite young ― 79 percent are aged between 15 and 59

TechnologyNov. 27, 2011

MACAU - China’s superrich want supercars. That’s what the makers of world‘s most exotic and expensive sports cars are hoping as they gather in Macau this week for the first Asian edition of Monaco’s annual Top Marques show that began eight years ago.The supercar companies are chasing growth in China, which is churning out scores of new millionaires each year and is home to the world’s biggest auto market.Ferraris and Lamborghinis sat alongside rare and beautiful automotive works of art from less

MobilityNov. 27, 2011

Half of South Korean manufacturers think that the lingering European financial crisis will hurt their financial health next year in earnest, making it more difficult for them to secure working capital, a survey said Sunday.According to the survey of 300 manufacturing companies by the Korea Chamber of Commerce and Industry, 50 percent said that their financial conditions are expected to be affected by the European debt woes, while only 22 percent responded that they have felt the effect of the fi

Nov. 27, 2011

South Korea’s global competitiveness in the transportation and construction service sectors remains solid despite the recent economic downturn triggered by eurozone woes and sluggish growth among many industrialized economies, a government report showed Sunday.The finance ministry said that in the nine months of this year, the surplus in the transportation industry reached $7.3 billion, up $1.2 billion from the same time period in 2010, in the latest service sector balance sheet report.It said o

Nov. 27, 2011

South Korean shares are expected to move in a tight range this week as fiscal debt problems in Europe and the U.S. will continue to weigh on investor sentiment, analysts said.The benchmark KOSPI closed at 1,776.40, down 3.3 percent last week, marking the fourth consecutive week the index has declined.The index earlier gained ground despite the U.S. Congressional committee’s failure to identify ways to cut the budget deficit as Moody’s Investors Service said it will not downgrade the U.S. soverei

Nov. 27, 2011

South Korea’s financial watchdog said Saturday that it has clinched a preliminary deal with its counterpart in Turkey to promote partnership between them.The Financial Services Commission said its chairman, Kim Seok-dong, has agreed with Vedat Akgiray, chairman of Capital Markets Board of Turkey, during his two-day visit to Turkey.The FSC added that the two agencies also agreed to set up branch offices in Seoul and Istanbul. The FSC said that the office will help local financial firms make inroa

Nov. 27, 2011

Cyworld, once a social networking phenomenon in South Korea before losing ground to Facebook and Twitter, vowed to make a comeback with its redesigned global service which could fill a niche rivals have yet to exploit: users’ desire for self-expression.Earlier this month, Cyworld launched a test version of its revamped Cyworld social networking service for international users, making a second entry into the global market since shutting down its U.S. service two years ago.Armed with lessons from

TechnologyNov. 27, 2011

Interest payments on household debt exceeded the 50 trillion won ($43 billion) mark for the first time this year as people took out more loans and coped with higher borrowing rates, financial sources said Sunday.Sources said that interest payments on debt reached around 5 percent of the gross national income that will inevitably exert negative influence on consumer spending, production and economic growth.Data from local financial institutions and the Bank of Korea showed household interest paym

Nov. 27, 2011

DETROIT (AP) — You can‘t drive far in the U.S. without seeing a Toyota Camry, Honda Accord or Ford Fusion.Midsize sedans have been America’s favorite cars for decades. That‘s changing. More people are choosing small cars like the Chevrolet Cruze and even smaller ones like the Honda Fit because they’re worried about gas prices and car payments. There‘s another reason, too: Small cars are no longer the cramped econoboxes of the 1980s and 1990s, and they have many of the same features as larger car

MobilityNov. 27, 2011

South Korean futures companies saw their earnings rise 14 percent in the first half from a year earlier, helped by increased commission income and returns from derivatives investments, the financial watchdog said Sunday.The combined net profit of seven local futures firms came to 27.7 billion won ($23.8 billion) in the April-September period, compared with 24.3 billion won in the previous year, according to the Financial Supervisory Service (FSS). The companies closed their books on March 31.The

Nov. 27, 2011

Toyota Motor Korea Co. has recalled 3,357 Lexus ES330 and RX330 vehicles for faulty power steering pulleys that can cause safety problems for drivers, the transportation ministry said Sunday.According to the Ministry of Land, Transport and Maritime Affairs, the problems in the two models can cause the power steering system to fail or suddenly make it hard to control the handling of the car.Vehicles subject to the recall were cars made by Toyota in Japan between June 1, 2004 and March 31, 2011.Fr

MobilityNov. 27, 2011

Daewoo Engineering & Construction Co., South Korea‘s fourth-largest builder, said Sunday that it has signed a $723 million deal to set up a thermal power plant in Nigeria.The builder said the new plant will be located 65 kilometers northwest of Port Harcourt, the largest city in the West African country, and near the large OML 58 gas treatment plant. The plant will have a power generation output of 420 megawatts with construction to be completed in 34 months.Daewoo E&C will be in charge of the e

IndustryNov. 27, 2011