Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Uncertainties may hamper banks’ growth: Moody’s
Agency says consumer loan, M&A and foreign currency liquidity problems unlikely to ease soonMoody’s Investors Service on Monday highlighted several uncertainties in the local banking industry, saying that unfavorable factors could hamper banks’ long-term growth.Negative factors cited by the ratings agency included growing consumer loans, M&A issues and foreign currency liquidity.“A key credit issu
May 30, 2011
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Renault Samsung revs up new SM7
Renault Samsung Motors Co. is revving up to take on the country’s closely contested upper midsized sedan market with the revamped SM7.The revamped SM7, which will go on sale on the local market in the second half of the year, represents an opportunity for the company to gain ground in the local market. The new SM7. (Renault Samsung Motors Co.)With just under 2,500 units of the current SM7 sold on
IndustryMay 30, 2011
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Hana Bank expands in Asian market
Commercial bank develops creative financial products at homeHana Bank has been securing mutual investment with Chinese banks under its long-term vision to develop a future growth engine and diversify asset portfolios via overseas expansion.The commercial bank, which opened its first office in Shanghai 15 years ago, views China as one of the most lucrative markets.Over the past few years, the bank
May 30, 2011
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Tablets, 3-D in focus at future-shaping Taiwan IT show
TAIPEI (AFP) ― The question of how to get 3-D technology into every living room and a tablet computer into every hand is set to dominate Asia’s largest IT fair which opens in Taiwan this week.Around 1,800 exhibitors from across the world will descend on Taipei for the Computex fair, which runs from Tuesday to Sunday, hoping to generate an estimated $23 billion of sales from 36,000 buyers, organize
IndustryMay 30, 2011
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Lack of sleep causes child obesity: report
Children who do not get enough sleep on a regular basis are more likely to be overweight, a study showed.According to a research team at the University of Otago in New Zealand, children who sleep less had a reduction in body mass index (BMI) and a significant drop in their risk of being overweight.Researchers also found lower BMIs resulted from differences in fat mass, showing that poor sleep has
TechnologyMay 30, 2011
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Four planets will converge on last week of May
In this screegrab from a NASA video, the four planets align. (NASA) Jupiter, Venus, Mars and Mercury will align between Sunday and Tuesday this week and be met with a very thin line of the moon in a slow series of conjunctions, Space.com reported. The unusual convergence of the four
TechnologyMay 30, 2011
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Former state auditor arrested in influence-peddling scandal
A former state auditor and aide to President Lee Myung-bak was arrested Monday on charges of taking bribes from a now-suspended savings bank that was seeking his influence to avoid punishment for extending illegal loans and other irregularities.Eun Jin-soo, who resigned last week as a ranking member of the Board of Audit and Inspection (BAI), is accused of accepting 70 million won ($64,635) in cas
TechnologyMay 30, 2011
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Soldiers under probe for posting pro-Pyongyang messages on Internet
Korean military intelligence officials are investigating seven officers and soldiers for posting pro-Pyongyang messages on an online community that praises North Korea, military officials said Monday.About 70 military personnel were registered as members of the online community, called the "Cyber Command for Defense of Fellow Countrymen," and seven of them posted pro-North Korea messages there, of
TechnologyMay 30, 2011
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3 more pro football players arrested in match-fixing scandal
CHANGWON (Yonhap News) -- Prosecutors in this southern coastal city said Sunday they arrested three pro football players for alleged involvement in a widening game-fixing scandal.The three, all from Daejeon Citizen football club based in the central city of Daejeon, were the latest to be arrested by prosecutors in the probe that began earlier this month. Two other Daejeon Citizen players and two b
TechnologyMay 30, 2011
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Toyota president to visit S. Korea to shore up morale
The chief of Toyota Motor Corp., the world's biggest carmaker, is likely to visit South Korea later this week to shore up support here for the brand, industry sources said Sunday. Akio Toyoda will arrive here around Saturday for his first South Korean trip since becoming president of the company in 2009, the sources said, adding he will meet with Toyota dealers at their shop in Seoul among ot
IndustryMay 29, 2011
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Foreigners’ land ownership up 0.7%
Foreigners’ ownership of South Korean land edged up 0.7 percent in the first quarter from three months earlier, posting a much slower growth rate seen before the recent global financial crisis, the Land Ministry said Sunday.As of the end of March, foreigners owned a combined 225.3 million square kilometers of land, 1.57 million square kilometers more than at the end of 2010, the Ministry of Land,
May 29, 2011
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Airlines set to hike fuel surcharges
Korean airlines are expected to jack up their fuel surcharges on international flights for July and August, but the increase rate will likely slow amid easing fuel prices, officials and industry sources said Sunday.The average price of jet fuel hovered at about $3.16 a gallon on the Singaporean spot market from April to May 28, compared with $3.02 per gallon between February and March, according t
May 29, 2011
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U.S. consumers give 3-D two thumbs up
Almost 90 percent of U.S. consumers have given high ratings to the picture quality of 3-D televisions and did not mind the battery-charged eyewear used to watch the three-dimensional images.Up to 88 percent of some 3,065 3-D-capable set owners who participated in a poll commissioned by The Digital Entertainment Group said last week that they were satisfied with their 3-D home viewing experience an
IndustryMay 29, 2011
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Drug makers fined W3b for illicit rebates
The Fair Trade Commission imposed a combined 3 billion won ($2.78 million) in fines on nine pharmaceutical companies for unfair trade practices, including the provision of illegal rebates to doctors and wholesalers, it said Sunday.The toughest punishment of 753 million won was slapped on Pacific Pharma Corp., for paying kickbacks to doctors in forms of gift cards, golf tours and cash.Those involve
May 29, 2011
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S-Oil Corp. expands petrochemical agent facilities in Ulsan
S-Oil Corp., the country’s third-largest oil refinery, said Sunday its expanded plant for paraxylene and benzene is now in full operation, taking a step forward in cultivating the petrochemical business as a future growth engine. Paraxylene and benzene are aromatic hydrocarbons generated by catalytically reforming naphtha, a petrol derivative. The two substances are key for production of polyester
IndustryMay 29, 2011
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Hyundai E&C seeks edge with aluminum cables
Hyundai Engineering and Construction is looking to boost efficiency and cut costs by using aluminum cables in place of copper ones.According to the company, it has been working with a cable manufacturer to develop aluminum cables for low voltages that meet Korean standards since last year. The company was able secure a source of aluminum cables that passed Korea Electrical Safety Corp.’s safety st
May 29, 2011
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LG aims W50tr to go from smokestack to high-tech
OCHANG/CHEONGJU, North Chungcheong Province ― LG Group’s chemical affiliates is targeting 50 trillion won ($46 billion) in sales by 2016 in a bid to complete the firms’ transition from smokestack to high-tech.The combined sales target of LG Chem, LG Household & Healthcare, LG Hausys and LG Life Sciences would mean double the 24.8 trillion won they raised last year. The growth, LG said, would be dr
IndustryMay 29, 2011
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Hyundai Mobis in world’s top 10 suppliers
Hyundai Mobis, Korea’s leading auto parts maker, was named one of the world’s top 10 suppliers on the back of robust sales, an industry report showed Sunday.According to the report by Detroit-based Automotive News, Mobis was ranked as the eighth-largest parts manufacturers in 2010 in terms of sales, up four notches from the previous year.Its revenue jumped 28.7 percent to $14.43 billion last year
IndustryMay 29, 2011
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Low birthrate to maim Korea’s growth: OECD
A low birthrate and rapidly aging population is projected to pull South Korea’s economic growth rate from second place to ninth among Organization for Economic Cooperation and Development members by 2026.A report by the club of 34 major economies said the annual rate of growth in the South Korean economy will fall to 2.4 percent after 2026, a sharp downturn from its 6.2 percent expansion in 2010,
May 29, 2011
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Seoul shares likely to gain ground this week
The Korean stock market is forecast to maintain its upward momentum this week, but the growth pace may be slow due to lingering concerns about the global recovery, analysts said.The benchmark KOSPI wrapped up last week at 2,100.24, down 0.53 percent from a week earlier.The KOSPI lost ground earlier last week as weaker U.S. economic data and the eurozone debt crisis raised concerns about the global
May 29, 2011