Most Popular
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Weekender] How DDP emerged as an icon of Seoul
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Today’s K-pop] NewJeans' single teasers release amid intrigue
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Three-month-old babies recognize human voices
(MCT)A British study showed three-month-old babies recognize human voices and can distinguish emotions from the sound, the Daily Mail reported.The research from the Institute of Psychiatry at King’s College London tested 21 infants, aged between three months and seven months, by monitoring brain activity through an MRI scan after playing recorded noises made by machines, human sounds and squeaking
TechnologyJuly 3, 2011
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Seoul bourse expected to gain ground next week
SEOUL, (Yonhap) -- South Korea's stock market is expected to continue its upward movement next week as worries over the Greek debt crisis were eased and investors' outlooks for major economies could improve, analysts said Saturday.The country's key stock index, the Korea Composite Stock Price Index (KOSPI), gained 1.67 percent, or 34.93 points, to close at 2,125.74 on Friday. The bourse got off to
July 3, 2011
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KEB to pay out record interim dividends
Korea Exchange Bank (KEB) decided Friday to pay out an interim dividend of 1,510 won ($1.42) per share for the second quarter, a move that will allow its biggest shareholder Lone Star Funds to rake in large profits. This marks the record amount of quarterly dividends that Korea's fifth-largest lender has ever paid out, enabling U.S.buyout fund Lone Star to receive dividends worth 496.8 billion won
July 1, 2011
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Embattled Samsung LCD unit absorbed into new division
Samsung on Friday merged Samsung’s Electronics’ embattled liquid crystal display unit into a newly created Digital Solutions division to be headed by Kwon Oh-hyun, chief executive of the company’s semiconductor business.Chang Won-kie, chief executive of the LCD unit, was removed from his post to become adviser to Kwon in a move that industry watchers saw to be a demotion criticizing Chang’s role f
IndustryJuly 1, 2011
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Mobile apps open up new channel to explore Korea
While a number of blogs and homepages are already offering a wide range of detailed information about Korea for visitors in English and other languages, the same segment is still in its infancy in the universe of mobile apps.But it’s too early to give up yet. Though the number of related apps for iPhone and iPad users is small, a dozen apps deserve attention. More importantly, the outlook appears
TechnologyJuly 1, 2011
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Honda recalls faulty motorbikes
Honda Korea plans to voluntarily recall 32 units of its Shadow 750 motorcycles due to manufacturing defects that could cause engines to stall unexpectedly, the country’s Transportation Ministry said Thursday.The decision resulted from a malfunction in bank angle sensors, which are designed to turn off the engine only when the motorbikes fall onto its side, according to the manufacturer.The recall
IndustryJuly 1, 2011
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Hynix CEO new head of chip association
Kwon Oh-chul, chief executive of Hynix Semiconductor, on Friday was inaugurated as the chairman of the Korea Semiconductor Industry Association. Kwon became the first executive not come from Samsung Electronics to become chairman. Kwon’s term will be until March of 2013. Kwon Oh-chul“Semiconductor demand has been sluggish on the back of a slower than expected recovery in the global economy, makin
IndustryJuly 1, 2011
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SC First union prolongs condo strike
Unionized workers at SC First Bank are expected to drag out their strike for an extended period of time in opposition to the management’s push for a performance-based pay system.The dispute between the management and workers continued as about 3,000 workers went on strike for a fifth day on Friday, leading to customer concerns of a prolonged walkout.The local unit of Standard Chartered Plc is tryi
IndustryJuly 1, 2011
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Builders’ H1 overseas contracts drop 35%
The value of overseas contracts won by Korean construction firms during the first half of the year fell 35 percent compared to the same period last year, industry data showed Friday.According to the International Contractors Association of Korea, local construction firms won 243 contracts during the first six months of the year, the combined value of which came in at $23.6 billion.In comparison, t
IndustryJuly 1, 2011
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Men five times more likely to be struck by lightning than women
Men are about five times more likely to be killed by lightning because they are more reckless, a recently survey showed. AccuWeather.com., a U.S. online weather service, has recently unveiled the result of its survey of lightning-related deaths that occurred in the U.S. from 1995 to 2008. (AP)Of 648 people killed by lightning, men accounted for 82 percent. This year, there have been six such death
TechnologyJuly 1, 2011
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Daum debuts real-time child Location service
Daum Communication is launching a new location service that allows parents to check children’s whereabouts in real time by accessing to its website (childcare.daum.net).The Daum Childcare service, which operates on SK Telecom’ mobile networks, provides street and aerial views of children’s locations to help parents identify their surroundings easily.Parents can set a certain area where children fr
TechnologyJuly 1, 2011
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Korean firm named among final bidders for Indonesian sub project
A Korean shipbuilder has been picked among the final candidates to export submarines to Indonesia, officials here said Friday.According to the Defense Acquisition Program Administration (DAPA), Daewoo Shipbuilding and Marine Engineering Co. will compete with a French company for the project."The project is worth about $1 billion," an official with the DAPA said. "Companies from Germany and Russia
IndustryJuly 1, 2011
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Korea's consumer prices rise 4.4% in June
Korea's consumer prices rose at a faster pace in June, raising concerns that inflationary pressure is mounting despite the government's price stability efforts, a report showed Friday.According to the report by Statistics Korea, the country's consumer price index rose 4.4 percent last month from a year earlier, quickening from the previous month's 4.1 percent gain. The figure represents the sixth
July 1, 2011
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Korea, Europe now in one market
The Korea-EU Free Trade Agreement took effect Friday, beginning the process of removing tariffs on more than 20,000 items produced in Korea and the EU.Negotiations over the pact, which began in May 2007, came to a close in October 2009 when the agreement was penciled in, and in October 2010 the agreement was formally signed by the leaders of Korea and the EU.Under the agreement, tariffs on 11,261
June 30, 2011
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Korea cuts growth forecast, raises inflation outlook
Finance Minister Bahk Jae-wan addresses a news conference on Thursday. (Yonhap News)Growth outlook lowered to 4.5%, inflation likely to be 4% this yearThe government has cut its growth forecast for the economy and raised the outlook for inflation this year, backing off from its ambitious growth plan due to weakening consumption and persistent price hikes. In a downbeat assessment of Asia’s fourth-
June 30, 2011
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KEPCO eyes spot among world’s top five power firms
Celebrating 50 years in business, company hopes to nearly triple annual sales by 2020Korea Electric Power Corp. is hoping to more than double its annual revenue as it drives for a spot among the world’s five largest energy companies.The company, which has its 50th anniversary on Friday, is aiming for annual sales of 85 trillion won ($79 billion), of which 26 trillion won will be raised from overse
June 30, 2011
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Hyundai-Kia chief stresses best quality
Hyundai Motor Group chairman Chung Mong-koo has called for employees in the United States to prioritize producing vehicles with “advanced” quality.His remarks are in line with Hyundai Motor and its affiliate Kia Motors’ road map to catch up with European and Japanese carmakers from its earlier business strategy focused on product stabilization.Chung visited a sales corporation of Hyundai-Kia in Lo
IndustryJune 30, 2011
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SKT, LG Uplus to start commercial LTE services
SK Telecom Co. and LG Uplus Corp. plans to start commercial services of the “Long Term Evolution” mobile technology to usher in the long-awaited era of fourth-generation wireless networks, the companies said on Thursday. LTE is cited as the next-generation mobile technology following the current 3G, and promises to offer an Internet data transmitting speed of up to five to seven times existing net
IndustryJune 30, 2011
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Samsung seeks to bar Apple’s U.S. sales
Korean company asks U.S. commission to block imports of mobile devicesSamsung Electronics has taken another legal step in its strife with Apple Inc. by requesting that the U.S. International Trade Commission block the import of overseas-made iPhones, iPads and iPods into the U.S.Samsung’s complaint involves all “mobile electronic devices, including wireless communication devices, portable music an
IndustryJune 30, 2011
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Watchdog mulling further lowering bank loan-to-deposit ratio to 90%
Korea’s financial watchdog said Thursday it may require local banks to lower their loan-to-deposit ratio to the 90 percent range in a bid to stem excessive growth of household debt.Lowering the loan-to-deposit ratio, a gauge of a bank’s solvency, was one of a set of measures to curb snowballing household debt unveiled on Wednesday. Household debt, which surpassed 800 trillion won ($747.3 billion)
June 30, 2011