Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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[Music in drama] Rekindle a love that slipped through your fingers
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Illegal cross-border cash flow detected
Report says tax agency found evidence of illicit ‘round trips’ of funds to SwitzerlandThe National Tax Service has detected an illegal flow of funds in the form of roundtrip investment from private bank accounts in Switzerland, local news reports said Wednesday.Tax authorities in Switzerland are said to have returned 5 percent of the dividend tax or 5.8 billion won ($5.3 million) on the foreign fu
June 15, 2011
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Capital to flow into emerging markets: Rubin
Emerging markets will experience continued capital inflow into the region regardless of the expiration of the second round of quantitative easing in the U.S., Robert Rubin, former secretary of the U.S. treasury said in Seoul on Wednesday.“There is a tremendously strong orientation now toward emerging market countries in the investment world. And that has nothing to do with the end of QE2,” Rubin s
June 15, 2011
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Korea Aerospace to go public June 30
Korea Aerospace Industries on Wednesday announced its expansion plan to become the comprehensive aircraft manufacturing company, with details to go public at the end of this month.“KAI is the country’s only comprehensive producer of aircraft materials since it was merged with Samsung Daewoo and Hyundai’s aircraft sectors in October 1999,” president Kim Hong-kyung told reporters at a news conferenc
June 15, 2011
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[Herald Interview] Transforming Korea into global exhibition leader
Korea’s growing economic muscle and brisk exports will turn the country into a leading global exhibition destination, said Choe Dae-kyu, vice chairman of the Association of Korea Exhibition Industry. Registered under the Ministry of Knowledge Economy, the organization promotes trade fairs held here and supports related policies. Its 44 members are largely exhibition hall operators, event organizer
IndustryJune 15, 2011
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Chaebol heirs prove their mettle as leaders
Third-generation members of business families moving up the executive ladderThird-generation chaebol family members appear to be rapidly consolidating their positions at the country’s largest conglomerates.Among the grandchildren of chaebol founders, Hyundai Motor Group’s Chung Eui-sun is taking the fastest route to the top. On Aug. 20, 2009, Hyundai Motor Group promoted chairman Chung Mong-koo’s
IndustryJune 15, 2011
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Google invests $280 million to spur home solar
NEW YORK (AP) ― Google is making its largest investment yet in clean energy in an effort to help private homeowners put solar panels on their rooftops.The $280 million deal with installer SolarCity is the largest of its kind. SolarCity can use the funds to pay for a solar system that it can offer to residents for no money down. In exchange, customers agree to pay a set price for the power produced
IndustryJune 15, 2011
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Recharged Ford sets sights on Asia
DETROIT (AFP) ― With its turnaround in North America essentially finished, Ford Motor Co. is looking to the next act in its comeback by building its business in Asia’s emerging markets.Ford plans to grow global sales by 50 percent over the next four years with a strong push into markets such as China and India, chief executive officer Alan Mulally said last week. A Ford Motor Co. Mondeo at the Aut
IndustryJune 15, 2011
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Sleepy people eat more: study
People suffering from sleep deprivation are likely to be unable to resist high calorie foods, a study found.Inadequate sleep leads to an increase in the hormone ghrelin, which tells you when to eat, and decreases in the hormone leptin, which tells you to stop eating, Shelby Freedman Harris, an author of the report, said.People suffering from lack of sleep have less leptin and more ghrelin. The imb
TechnologyJune 15, 2011
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TV-watching boosts heart, diabetes, death risks: study
(MCT)WASHINGTON, (AFP) - A review of published studies in the past 40 years has shown a higher risk of diabetes, heart problems and early death among people who watch lots of television, US researchers said Tuesday.The results of the meta-analysis performed by scientists at the Harvard School of Public Health are published in the June 15 issue of the Journal of the American Medical Association.Mor
TechnologyJune 15, 2011
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Airbus to introduce see-through plane by 2050
Airbus, the world’s largest aircraft manufacturer, said it would look to develop planes which all passengers can enjoy the view by 2050. In the plane, people would no longer have to grab a window seat to get a glimpse of sky, but could enjoy the views through glass ceilings. There also will be no division of classes of seats, it said.Charles Champion, executive vice president of Airbus, told repor
IndustryJune 15, 2011
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S. Korea's jobless rate stands at 3.2 pct in May
South Korea's jobless rate remained unchanged in May from a year earlier, but it fell sharply from the previous month as the private sector increased employment amid an economic recovery, a government report showed Wednesday.The jobless rate was 3.2 percent last month, unchanged from the same month a year earlier, according to the report by Statistics Korea. However, it was down from 3.7 percent i
June 15, 2011
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Lone Star ineligible as KEB's major shareholder: lawmaker
Lone Star Funds is ineligible as Korea Exchange Bank's major shareholder since the U.S. private buyout fund's 2003 acquisition of the South Korean lender may be illegal, a lawmaker said Tuesday.The remarks come as Lone Star Funds is in talks with Hana Financial Group Inc., the country's No. 4 banking group, to settle the sale of its 51.02 percent stake in KEB for 4.69 trillion won ($4.3 billion).I
June 14, 2011
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KDB Financial forced to give up Woori
Regulator grants equal opportunities for local and foreign biddersThe financial authorities have decided to allow foreign investors to participate in the coming bidding for Woori Financial Group, reversing their earlier stance to hand over the state-run group to a Korean investor.With the decision, former Finance Minister Kang Man-soo, who is serving as chairman of KDB Financial Group, has failed
June 14, 2011
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KT, NHN to join hands for Wi-Fi ad
Korea’s telecom titan KT Corp. and NHN Corp., the operator of Korea’s most-visited Web search engine, will set up a joint venture next month to offer mobile ads for wireless-fidelity users, the companies said Tuesday. KT and NHN Business Platform Corp., NHN’s affiliate providing ad sales and information technology infrastructure, will each invest 3 billion won ($2.76 million) in the joint venture,
IndustryJune 14, 2011
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POSCO opens 1st overseas facility for processing steel thick plates
POSCO opened its first overseas thick-plate processing center in China on Tuesday. These are steel plates thicker than 6 millimeters used in shipbuilding and heavy equipment production.The center, POSCO-China Dalian Plate Processing Center or POSCO-CDPPC, is located on Changxing Island of the coast of Dalian in Liaoning province, Northeast China. “China was chosen for the site of the company’s fir
IndustryJune 14, 2011
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Korea to build unmanned boats for research, surveillance
Korea plans to develop unmanned boats for maritime research and surveillance by investing 20 billion won ($18.5 million) over the next five years, the government said Tuesday.The automated boats will sail at a speed of up to 90 kilometers per hour within a 16 kilometers radius and avoid collisions with other vessels or obstacles, the Ministry of Land, Transport and Maritime Affairs said in a state
IndustryJune 14, 2011
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Hyosung develops high-strength carbon fibers
Hyosung Corp., a Korean maker of chemicals and automatic teller machines, said Tuesday it has developed the country’s first high-strength carbon fibers, paving the way for the next-generation fabrics that are lighter, stronger and more elastic.The ultra-thin materials have stepped into the limelight in recent years as their low weight, high-tensile strength and temperature tolerance made them desi
IndustryJune 14, 2011
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Samsung Electronics begins Olympic promotion
Samsung Electronics announced on Tuesday that it has begun its London Olympics promotion campaign. The promotion campaign sponsored by Samsung Electronics, which is the event’s official mobile telecom sponsor, will be held under the theme “Everyone’s Olympic Games.”The company also began the process of selecting the runners for the torch relay. Samsung Electronics plans to select young people from
IndustryJune 14, 2011
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Most productive workforce shrinks
Trend is likely to continue, hurting economic competitiveness Core productiveThe most productive workforce aged between 25 and 49 has begun shrinking for the first time in recorded history, data showed on Tuesday, marking a trend likely to continue and weigh down on competitiveness of the economy.The Statistics Korea said the core productive population stood at 19.54 million as of end-2010, down 3
June 14, 2011
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Institutional investors drive shares up 1.37%
Korean stocks ended 1.37 percent higher on Tuesday as institutional investors scooped up carmakers and financial shares, overshadowing concerns over the eurzone debt crisis, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index climbed 28.09 points to 2,076.83, the second straight session of gains.Trading volume was light at 207 million shar
June 14, 2011