Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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Korean iPhone users sue Apple
A group of Korean iPhone users on Thursday filed a class action lawsuit against U.S. telecom giant Apple Inc. and its Korean unit over the firm's allegedly illegal collection of users' location data.It will be the first such case in the country."We learned that our whereabouts over the past six months were entirely revealed. It's a privacy violation," said legal representatives of 29 plaintiffs in
April 29, 2011
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Korea's industrial output grows 8.7% in March
Korea's industrial output grew for the 21st straight month in March, indicating that the nation's economy continued to expand, a government report showed Friday.According to the report by Statistics Korea, production in the mining and manufacturing industries rose 8.7 percent last month from a year earlier. Output has increased every month since July 2009. The expansion was fueled mainly by increa
April 29, 2011
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FSS reprimands Hana Daetoo, Wise Asset
Financial regulators on Thursday issued sanctions against a local asset management firm and a brokerage house for incurring huge losses after conducting allegedly reckless investments in stocks last November.The Financial Supervisory Service held a committee meeting where they fined-tuned the level of penalties against Wise Asset and Hana Daetoo Securities for their alleged negligence in internal
April 28, 2011
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State media regulator to soon question Google over location log
The Korea Communications Commission said Thursday that it plans on sending a questionnaire to Google Inc. involving the collection of location information of its smartphone users here.The event takes place a few days after the state media and telecommunications regulator launched an investigation against Apple Inc. on Monday over collection of information of its smartphone users.In a questionnaire
April 28, 2011
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Won hits 32-month high
The dollar slid to 1,071.2 won on Thursday, posting its lowest level in 32 months against the Korean currency.The Korean currency’s value rose by 8.3 won from a day earlier, bringing it to its highest point since Aug. 22, 2008, when it stood at 1,062.5 won per dollar.Economists attributed the won’s rise in value to U.S. policymakers’ stance which hinted at easing ― or a wait-and-see approach towar
April 28, 2011
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Hyundai Motor, Steel post strong first-quarter figures
Hyundai Motor Co.’s quarterly sales increased 21.4 percent from a year ago, while that of its affiliate Hyundai Steel rose to record levels.In a regulatory filing, Hyundai Motor revealed that its first quarter sales increased 21.4 percent compared to the same period last year to come in at 18.23 trillion won, while operating profits soared 45.6 percent over the same period to come in at more than
IndustryApril 28, 2011
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Two top mobile carriers launch Apple’s iPad 2
Two top mobile carriers SK Telecom and KT Corp. said they will release Apple’s iPad 2 in the local market Friday, according to companies’ officials Thursday.KT, which was the first telecom to service Apple’s iPhone in November 2009, said it will release two different models ― one that operates only on the Wi-Fi network and another which runs on Wi-Fi and 3G networks ― beginning at 10 a.m. at its o
IndustryApril 28, 2011
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Samsung’s Lee welcomes calls for more shareholding activity of funds
Samsung Electronics Chairman Lee Kun-hee on Thursday supported a presidential aide’s call for public funds to more actively exercise their rights as shareholders.The business tycoon said he was not only unperturbed by the remarks, but he “welcomes the idea of having shareholders publicly exercise their rights.”Lee was remarking on a speech given Tuesday by Kwak Seung-jun, head of the presidential
IndustryApril 28, 2011
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2012 budget plan aims to reduce fiscal deficit
Budget spending focused on investment in new growth enginesThe Ministry of Strategy and Finance on Thursday unveiled its policy to improve the nation’s fiscal soundness next year by slashing unnecessary expenditure.The government is aiming to minimize the 2012 fiscal deficit by curbing the growth of total expenditure, ministry officials said citing its report to the Cabinet meeting held earlier in
April 28, 2011
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Hynix posts solid profit despite fall in prices of chips
Hynix Semiconductor Inc., the world’s second-largest computer memory chipmaker, announced Thursday it posted 2.79 trillion won in sales and 323 billion won in operating profit for the first quarter, slightly up from the previous quarter largely due to an increase in shipping.The figures indicate that the total sales and operating profit rose 1.5 percent and 9.9 percent, respectively, in the first
IndustryApril 28, 2011
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Current account surplus hits three-month high in March
South Korea’s current account surplus rose to the highest level in three months in March as exports of ships and other key products remained robust, the central bank said Thursday.The current account surplus reached $1.43 billion in March, up from a revised $1.13 billion the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The March
April 28, 2011
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Hyundai seals China commercial car venture
Hyundai Motor Co. finalized the deal with China’s Sichuan Nanjun Automobile Co. to establish a commercial vehicle plant in China on Thursday.The two companies had signed a memorandum of understanding on setting up a joint venture in October.Sichuan Nanjun Automobile Co. is China’s 11th-largest producer of commercial vehicles. The company operates two plants with a combined annual production capaci
IndustryApril 28, 2011
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3-D firm posts record earnings in Q1
Red Rover Co., a local 3-D services provider, said Thursday that it has posted record earnings of 2.4 billion won ($2.2 million) in the first quarter, up 298 percent from the same period last year.The firm’s sales reached 9.2 billion won, up 203 percent from the January-March period last year, though it was little lower than that of the year’s fourth quarter, it said. “The record performance was p
IndustryApril 28, 2011
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Foreign insurers struggle to join mainstream
Despite their long presence in Korea, global giant life insurers still don’t come close to their major local rivals in terms of size, according to industry sources Friday.Nine foreign life insurers operating in the country hold 68.9 trillion won ($63.7 billion) in assets, or 16.9 percent of the industry’s total. The figure does not even meet half of that held by industry leader Samsung Life Insura
April 28, 2011
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Japan output logs record fall
IndustryApril 28, 2011
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Hyundai, Kia hybrids pack in new features
At the recent Seoul Motor Show, Hyundai Motor Co. and Kia Motors Corp. each unveiled their first gasoline-electric hybrid vehicles based on their midsized sedan’s Sonata and K5.While the carmakers had introduced hybrid electric vehicles based on the compact cars Avante and Forte powered by a combination of an electric motor and a liquefied natural gas engine, the hybrid Sonata and K5 mark their fi
IndustryApril 28, 2011
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LG Electronics back on track with smart appliances
LG Electronics this week posted an operating profit, signaling that the global electronics maker is getting back in the groove with well-paced strategies and cutting-edge technologies.LG Electronics, the world’s second-largest flat-screen television maker and third-largest handset maker, has been avidly making its way up in the smart device industry under the guidance of its CEO Koo Bon-joon to pr
IndustryApril 28, 2011
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U.S. study probes how surgery makes diabetes disappear
TechnologyApril 28, 2011
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Chosun opens holiday emergency rooms
Chosun University Hospital in Gwangju has opened an emergency room dedicated to the treatment of minor ailments at night and during holidays. The center will help people with less serious conditions visit doctors outside of regular hours, the hospital said. Ten doctors from various departments are stationed with three nurses. The operation hours are 5:30 p.m.-8:30 a.m. during weekdays; 12:30 p.m.-
TechnologyApril 28, 2011
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Warning against thalidomide posted
The Korea Food and Drug Administration has posted a warning against thalidomide, which is used to treat multiple myeloma. The announcement followed a similar measure posted by German authorities, which reported possible side-effects including myocardiac infarction, cerebrovascular disease and others. The KFDA plans to conduct further studies that will be reflected in the future authorization of th
TechnologyApril 28, 2011