Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Korea to cut collusion in financial sector
The administration and the National Assembly have begun in earnest to reform the nation’s top financial watchdog, to cut its long-held collusive ties with financial companies it supervises.Assessing that the Financial Supervisory Service, hit by a series of corruption scandals involving its former and incumbent staff, cannot complete a self-purification drive, the Prime Minister’s Office is pushin
May 6, 2011
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1.5 trillion won flees from savings banks
The total amount of deposits at local savings banks plunged by 1.5 trillion won ($1.4 billion) during the past four months due to concerns over their security, according to a report released by the Korea Deposit Insurance Corp. on Friday. The tota of deposits held at 96 savings banks nationwide stood at 64.8 trillion won at the end of April, according to the staterun deposit insurer. The figureexc
May 6, 2011
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Samsung hires new legal counsel
Samsung Electronics hired Cho Jun-hyung, a lawyer that defended the group in the independent counsel case over Samsung, as the flagship unit’s executive vice president earlier this month.Samsung Electronics confirmed Cho was employed to assist the company’s vice chairman Choi Gee-sung, according to a Samsung official. However, the official said Cho’s exact role at the company was undetermined at t
IndustryMay 6, 2011
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Fuel prices rise again
A month of 100 won-price cut has little impact and consumer complaints riseRetail fuel prices in Korea are rebounding on high international oil prices, despite refiners’ price cut of 100 won ($0.09) per liter a month ago.The state-run Korea National Oil Corp. attributed this to the rising price of petroleum in the country, predicting that the trend would continue in coming months. The price cut by
IndustryMay 6, 2011
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KT operating profit increases 61.7% in Q1
Korean telecom giant decides to sell its stake in Russian affiliate NTC for $346mKT Corp. said Friday that it posted 5.3 trillion won ($4.88 billion) in sales and 726.3 billion won in operating profit for this first quarter, up 6.1 percent and 61.7 percent, respectively, from a year earlier.In its quarterly report, the country’s biggest fixed-line service operator said the solid performance was mo
IndustryMay 6, 2011
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Rare fish costs almost as much as a car
(ANN/China Daily)A red dragon fish, costing almost as much as a BMW, is available at a shop in Chengdu, Sichuan province.The fish, which comes from Indonesia, is 55-centimeters long and weighs 1.5 kilograms. Its scales and fins are pepper red, which is rare, as most dragon fish are usually yellow or silver.If any fish fans are interested, the price is 360,000 yuan ($55,400). The rare fish is also
TechnologyMay 6, 2011
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How coffee and blowing your nose can be harmful
(MCT)Researchers from Netherland have found 8 factors that may raise the risk of burst aneurysms in the brains of certain people. University Medical Center in Utrecht conducted the research on some 250 patients for three years to find risk factors that increase blood pressure over short periods which can lead to burst blood vessels. Aneurysms are swollen arteries. They usually do not cause a seri
TechnologyMay 6, 2011
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KT posts 84.7 pct jump in Q1 earnings
KT Corp., South Korea's largest telecom company, said Friday that its first-quarter earnings surged 84.7 percent from one year ago. Net profit reached 555.2 billion won (US$513.6 million) in the January-March period, compared with 300.6 billion won a year earlier, it said in a regulatory filing. Sales rose 6.1 percent from one year ago to 5.3 trillion won in the quarter and operating profit
IndustryMay 6, 2011
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Economic bodies hail EU FTA ratification
By Choi He-suk Local economics organizations praised the National Assembly ratification of the Korea-EU Free Trade Agreement on Wednesday.The EU is Korea’s second largest export destination, and European goods account for the fourth largest proportion of Korea’s imports.As such, the pact is projected to have significant benefits for Korea’s economy with some projecting that it will have a larger e
IndustryMay 5, 2011
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CrucialTec sees shining opportunities in smartphone boom
A global smartphone boom is proving to be a significant boon for business for CrucialTec, a Korean maker of optical trackpads widely used in handsets for navigating menus. Optical trackpads detect the movement of the finger, helping mobile users more easily scroll through the information they need on their phones. CrucialTec is known as the pioneer in the technology, as its feats include developin
IndustryMay 5, 2011
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Redrover quenches thirst for 3-D content
Redrover, a Korean brand of optical three-dimensional monitors, is carving out a big chunk of the global 3-D content market, armed with savvy technology and the right ideas. “Our 3-D content is hands-down the best solution out there thanks to a wide selection and sophisticated picture quality that’s bound to make 3-D vision a most pleasurable experience,” said Ha Hoe-jin, CEO of Redrover in an int
IndustryMay 5, 2011
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Korea to step up R&D support for small firms
Competitive parts suppliers to receive funding for up to three yearsSouth Korea is poised to offer funding for research and development at a total of 50 prospective small-sized local parts and materials makers in order to bolster the nation’s industrial competitiveness, the Ministry of Knowledge Economy said Thursday.The ministry will provide selected firms that are posting average annual sales of
IndustryMay 5, 2011
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Kim keeps silent on FSS irregularities
Expert says top regulator has bigger responsibility as decision-makerThe Financial Services Commission has remained silent about the recent woes of its executive arm ― the Financial Supervisory Service, which is facing tough public criticism due to irregularities.The irregularities include allegations that several FSS staffers took kickbacks from debt-ridden savings banks and the regulator’s failu
May 5, 2011
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Construction industry suffered in 2010: report
South Korea’s construction industry went through hard times last year despite a general boom in growth in other sectors, a report by the central bank showed Thursday.The woes were mainly due to the sluggish local real estate market that caused a general drop in houses being built across the country and led to a decrease in work. Such developments exerted negative influence on key numbers such as r
May 5, 2011
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Card loans dwindle in Q1
The total amount of loans offered to local credit card holders decreased in the first quarter compared to the last three months of 2010 as financial institutions and state regulators tightened oversight to prevent risks down the road, an industry report showed Thursday.The latest findings showed card loans provided by six dedicated cards, excluding BC Card, reached 5.45 trillion won ($5.07 billion
May 5, 2011
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KDB: Korea’s flagbearer in international financing
State-run bank focuses on diversifying funding sources by tapping niche marketsFor more than 40 years, the Korea Development Bank has built up a reputation as a core Korean bond issuer in the global capital market.The state-run bank was founded with a mandate to supply and manage major industrial capital to develop Korean industries and the economy.KDB bond has continued to perform a crucial role
May 5, 2011
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Women and heart disease
Women tend to think that breast cancer is their biggest health threat. While it is important, heart disease remains the No. 1 killer of women, even young women.The risk of heart disease in women increases with age. Heart disease is the leading cause of death in women over 40 years old, especially after menopause. Every year, more than 500,000 U.S. women die of heart disease. This translates to app
TechnologyMay 5, 2011
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Rethinking HRT: Menopausal women take charge of choices
DETROIT ― Johanne Erickson could handle two to three hot flashes a week when her perimenopause symptoms began two years ago, when she was 44.But by February, 40 to 50 hot flashes a day plagued the Oxford, Michigan, woman.Erickson, a human resources manager for an automotive supplier, turned into the office joke. Friends bought her a cache of fans.“At some point you either have to laugh about it an
TechnologyMay 5, 2011
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Diabetes: Watch out before it’s too late
How much do we know about diabetes? Kim Sung-rae, chairman of committee of public relations at the Korea Diabetes Association, shares some key fact about diabetes with The Korea Herald to raise public awareness of the disease ― Ed.About 5 million people in Korea are assumed to be diabetic. But only half of them are aware of their disorder and only half those diagnosed with diabetes visit doctors r
TechnologyMay 5, 2011
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Businesses expect boost from EU FTA
(Speaker Park Hee-tae (upper left) presides over the plenary session for the vote on the Korea-EU free trade agreement in the National Assembly on Wednesday. Yang Dong-chul/The Korea Herald)U.S. says images would inflame anti-U.S. sentiment, incite violenceThe free trade agreement with the European Union, ratified by South Korea’s National Assembly on Wednesday after months of rickety proceedings,
IndustryMay 5, 2011