Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
3
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
-
4
Second Gimpo civil servant found dead, after apologizing for not finishing work
-
5
DP leader says he will meet Yoon without conditions
-
6
First-ever meeting of president, opposition chief set to finally happen
-
7
NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
-
8
Experts raise concerns about Japan putting pressure on Naver over Line
-
9
Samsung mobile chief, Google device head meet in Seoul
-
10
Ship linked to NK arms shipments to Russia is moored in China: State Dept.
-
Outbound travelers up 4.7% in first 4 months
The number of Korean travelers going overseas rose 4.7 percent in the first four months of 2011 from a year earlier despite a recent earthquake and tsunami that hit Japan, the top destination for outbound tourists, data showed Friday.According to the data released by the Justice Ministry and the Korea Tourism Organization, the number of Koreans going overseas came to 4.09 million in the January-Ap
IndustryMay 27, 2011
-
Foreign investors banned from Woori Financial bidding
Foreign investors have apparently been banned from participating in the coming bidding for Woori Financial Group, the nation’s largest financial company by assets.Financial Services Commission chairman Kim Seok-dong clarified Friday that the authorities will hand over the state-run financial group to a Korean bidder.His remarks came during the FSC’s report to the National Assembly on the financial
May 27, 2011
-
Samsung takes first steps on biologics
Venture breaks ground for plant in IncheonSamsung Biologics broke ground for its plant in Incheon on Friday.The company is Samsung Group’s biologics venture established in collaboration with the U.S.-based pharmaceuticals services provider Quintiles Transnational Corp. in April. Samsung Electronics Co. and Samsung Everland Inc. each own a 40 percent stake in the venture, with the remainder divided
IndustryMay 27, 2011
-
Google turning mobile phone into a wallet
Google unveiled a free mobile application on Thursday that turns a smartphone into an electronic wallet and is designed to replace plastic credit cards.The Internet giant, at a press conference at its New York headquarters with financial partners Citibank, MasterCard and First Data and telecom ally Sprint, said "Google Wallet" is being field tested and will be available this summer.Google Wallet
TechnologyMay 27, 2011
-
S. Korea's current account surplus hits 4-month high in April
South Korea's current account surplus rose to the highest level in four months in April as robust exports overshadowed an increase in dividend payouts by local firms to foreign investors, the central bank said Friday. The current account surplus reached US$1.88 billion in April, up from a revised $1.33 billion the previous month, according to the Bank of Korea (BOK). The current account is the
May 27, 2011
-
Oil refineries fined W435b for collusion
The Fair Trade Commission said Thursday that it imposed 434.8 billion won ($402.5 million) in fines on four major oil refineries for anticompetitive practices and referred three of them ― SK Energy, Hyundai Oilbank, and GS Caltex ― to prosecutors for investigation. The corporate watchdog said it found evidence of the four colluding to prevent oil supplies to gas stations held by their competitors,
IndustryMay 26, 2011
-
KAIST scientists use laser to inject drugs into brain
South Korean scientists said Thursday that they have developed a way to allow drugs to reach the brain that could lead to a safe and cheap treatment method for various neurological diseases.A Korea Advanced Institute of Science and Technology (KAIST) team led by bio and brain engineering professor Choi Chul-hee said it had used an ultra-high frequency laser to temporarily weaken the “blood-brain b
TechnologyMay 26, 2011
-
Siemens taps Kim as Korean unit head
Siemens Korea will next month appoint Kim Jong-kap, former head of Hynix Semiconductor, to become the first Korean chief executive in its 60-year history, the company said on Thursday. Kim Jong-kapKim, 59, was most recently chief of Hynix, the world’s No. 2 memory-chip manufacturer. He completed a three-year term that started in 2007 and is currently head of the board of directors. Prior to Hynix
IndustryMay 26, 2011
-
Merck Korea starts childbirth campaign
Merck Korea, the Korean unit of the Germany-based pharmaceutical group, said Thursday it has launched a campaign to promote childbirth in efforts to ratchet up the low birth rate in the country.The “Wishmom” campaign was designed to raise public awareness of infertility and help couples struggling to conceive in partnership with the Korean Society for Reproductive Medicine. Actress Song Sun-mee wi
IndustryMay 26, 2011
-
KT to transition to IT convergence group
KT Corp. said Thursday it will make the transition to an information technology convergence group from a telecom service firm, with plans devised to have non-telecom businesses take up 45 percent of overall sales by 2015.The country’s largest fixed-line service operator also announced it targets 40 trillion won ($37 billion) in sales ― 6 trillion won in IT service and media, 8 trillion won in fina
IndustryMay 26, 2011
-
U.S. media reports 3-D TVhealth risks
The U.S. media has highlighted health risks related to excessive exposure to 3-D television at home, warning that it could negatively impact eyesight, especially among children.Citing expert opinions, NBC said kids’ eyes continue to develop until the age of 10, meaning the way their eyes learn to focus could be altered by too much 3-D vision. Another issue was the difference in the 3-D technology
IndustryMay 26, 2011
-
Telecom discount plan delayed until next week
The government is delaying its announcement of a telecom fees discount plan until next week after fierce opposition from political circles early this week.According to the draft plan, prepared following talks between a state taskforce and local telecoms, mobile carriers are to offer 50 more free text messages every month and subscription costs for mobile phone services are to be halved for teenage
May 26, 2011
-
Consumer sentiment rises for 2nd month in May
Korea’s consumer confidence rose for the second straight month in May, aided by optimism about the economic recovery, the central bank said Thursday.The consumer sentiment index ― a gauge of consumers’ overall economic outlook, living conditions and future spending ― stood at 104 for May, up from 100 in April, the Bank of Korea said in a monthly report. It marked the highest level since February w
May 26, 2011
-
LG Uplus to start LTE service by mid-2012
LG Uplus Corp., Korea’s smallest mobile carrier, said Thursday that it plans to begin a nationwide long term evolution service by mid-2012, moving up its schedule for the fourth-generation mobile service on booming smartphone demand. LG Uplus will begin offering the service in 82 cities around the country before the end of this year and complete its nationwide 4G network in July next year, the com
IndustryMay 26, 2011
-
Lone Star suspected of hiding evidence: lawmaker
U.S. Lone Star Funds has been suspected of omitting a significant document when it made a report to Korea’s financial regulator in March, an opposition lawmaker alleged.Rep. Lim Young-ho of the Liberty Forward Party said a unit of Lone Star owns 130 golf courses worth about 3.7 trillion won ($3.36 billion) in Japan, demanding regulatory sanction against the buyout fund.He called for the Financial
May 26, 2011
-
‘Communication key to financial regulation’
Berkley professor warns that a different crisis will hit the worldCommunication between central banks and their financial supervisory authorities is essential for financial stability, University of California, Berkley professor Barry Eichengreen said Thursday.“I think there can be very serious problems with this kind of arrangement where one entity does the supervision, and another one the central
May 26, 2011
-
Korea Post vows to raise efficiency
Korea Post said it will upgrade its postal and banking services to prepare for market consolidations with the coming of more free trade pacts.Delivering a two-year plan, its president Kim Myong-ryong stressed the importance of providing better services as a state-run agency connecting supply chains and circulating money across the country. Korea Post chief Kim Myong-ryong delivers a two-year plan
May 26, 2011
-
Pernod Ricard committed to ‘corporate citizenship’
Franck Lapeyre, chief executive of Pernod Ricard Korea, urged foreign businesses in Korea to join the drive by local companies’ to take on more social responsibility, underlining their role as “corporate citizens.” The distributor of Imperial and Ballantine’s whiskies, as well as Absolut Vodka, has been enthusiastic about its anti-drunk driving campaign since 2007, while sponsoring music schools,
IndustryMay 26, 2011
-
Hanwha E&C wins $7.25 billion city project in Iraq
Deal becomes the largest overseas construction project won by a Korean firmHanwha Engineering and Construction Corp. announced Thursday that it signed a $7.25 billion contract with Iraq’s National Investment Commission.Signed on Wednesday in Iraq, the project is the largest overseas construction project to be won by a Korean construction firm. Under the contract, Hanwha Engineering and Constructio
IndustryMay 26, 2011
-
Wunsch Award receives nominees
Boehringer Ingelheim Korea is receiving nominations for this year’s Wunsch Medical Award, one of the most prestigious prizes in Korean medicine. The German drug manufacturer established the award together with the Korean Academy of Medical Sciences in 1990, naming it after Richard Wunsch, the first German physician in Korea. Wunsch also served as a personal physician to King Gojong from 1901 to 19
TechnologyMay 26, 2011