Most Popular
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Yoon’s jailed mother-in-law excluded from latest parole list
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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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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Hybe's multilabel system tested amid conflict with Ador
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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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Banks’ overseas earnings rise 29%
Korean banks saw total earnings from their overseas operations jump 28.8 percent last year from a year earlier thanks to an increase in interest income, the financial regulator said Monday. Net income by 92 overseas units and branches operated by 11 local banks stood at $369.1 million in 2010, compared with $286.4 million in the previous year, according to the Financial Supervisory Service (FSS).T
April 4, 2011
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Foreigners cut local shareholdings in March
Foreign investors cut holdings of local shares for the second straight month in March amid worries over political unrest in the Middle East region, the financial regulator said Monday.Foreigners sold a net 772 billion won ($709.4 million) of Korea’s listed shares last month, further reducing local share holdings following their net selling of 3.72 trillion won in February, the Financial Supervisor
April 4, 2011
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Minister apologizes for FTA gaffe
Trade Ministry completes fixing mistakes in translation of Korea-EU agreementTrade Minister Kim Jong-hoon apologized to the public on Monday for mistakes in the Korean-language version of the Korea-E.U. free trade agreement. In a news conference, he pledged to punish officials responsible for the blunder that delayed parliamentary ratification and hurt the reputation of the trade authorities.The T
IndustryApril 4, 2011
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KDIC to sell suspended savings banks: chief
Korea’s deposit insurance agency said Monday it plans to put most of the seven suspended savings banks up for sale from as early as this month as part of the country’s widening efforts to revamp the ailing financial segment.In February, the country’s financial regulator Financial Services Commission (FSC) suspended the savings banks, including top player Busan Savings Bank and its four affiliates,
April 4, 2011
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Hyundai Heavy starts work at R&D center in Shanghai
The world’s largest shipyard Hyundai Heavy Industries announced Monday that its Shanghai-based Global Research and Development Center began operations this month.According to the company, the R&D center will first focus on developing new products and technologies in areas concerning Hyundai Heavy’s current operations in China including construction equipment and engines. In the long term, the cent
IndustryApril 4, 2011
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Builders bail out of Brazil bullet train bid
Four Korean companies have pulled out from the nation’s consortium planning to bid for a contract to build and operate a bullet train network in Brazil, company officials said. The four companies, including Hyundai Amco Co. and Kolon Engineering & Construction Co., notified the consortium of some 20 firms last week that they pulled out, citing an uncertainty in financial prospects for the Brazilia
IndustryApril 4, 2011
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Domestic construction orders to edge down
Korean builders’ domestic orders are expected to inch down this year due to a property market slump and economic uncertainties both at home and abroad, a report said Monday. According to the report by the Construction and Economy Search Institute of Korea, builders are likely to win domestic orders worth a combined 102.7 trillion won ($94.5 billion) this year, down 0.5 percent from a year ago. Bui
IndustryApril 4, 2011
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Hynix Semiconductor unveils advanced chip
Hynix Semiconductor Inc., the world’s No. 2 maker of computer memory chips, said Monday that it has developed an advanced DDR4 dynamic random access memory (DRAM) chip and will start mass production in the second half of 2012. Hynix developed the 2-gigabit DDR4 DRAM device based on 30-nanometer class process technology, it said in a statement. The energy-efficient DDR4 DRAM transfers data twice as
IndustryApril 4, 2011
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Regulator to control credit card spending
Package of measures against surging household debts to be unveiled SundayFinancial authorities plan to induce the public to control their use of credit cards to address rising household debts.Instead, the usage of check cards ― which refer to cards containing functions of both credit and debit cards ― will likely be promoted.The policy, aimed at easing the financial burden of debt-saddled low- and
April 4, 2011
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More Koreans feel the pinch of rising commodity prices
Nine out of 10 Koreans think the prices of everyday necessities have risen compared to three months ago, a survey said. Nielsen Company Korea, a research firm, said the results came from its survey conducted between Feb. 25 and March 4 this year, targeting 1,000 Internet users in major cities including Seoul, Gwangju and Busan. Local consumers thought meat prices had risen the most, followed by ag
April 4, 2011
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More families are adopting HIV-positive children
(MCT)The immediate task might be coaxing a toddler into one more swallow of nasty-tasting medication. Longer term, there are tough choices to be made about telling that child, and the surrounding community, why those daily doses may be needed for the rest of his or her life.While most adoptions present challenges, there is a distinctive set of them facing parents who decide to adopt children livin
TechnologyApril 4, 2011
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SK Engineering bags 140 bln won subway order from Singapore
SK Engineering & Construction Co., a South Korean builder, said Monday that it has clinched a 140 billion won ($128.9 million) contract to build a subway section in downtown Singapore. Under the deal with Singapore's Land Transport Authority, SK Engineering will build a 1.1-kilometer section of the 21-kilometer subway system by late 2016, the company said. The builder said it will start w
IndustryApril 4, 2011
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S. Korea's rice wine output falls amid slowing demand
Models promote Makgeolli, Korean rice wine. (Yonhap News)South Korea's production of makgeolli rice wine fell for the first time in 32 months in February amid slowing demand from strong consumption over past few years, data showed Monday.Makgeolli production came to 24,395 kiloliters in February, down 6.8 percent from the same month a year earlier, according to the data provided by Statistics Kore
April 4, 2011
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Suspected UFO video creates sensation on YouTube
(MCT)A short video clip which contains mysterious lights has sparked debate over whether the lights were from an alien spacecraft or not. Three mysterious red dots appeared in the middle of the night over the sky in Lafayette, Colorado last week and hovered in the air before disappearing. Lafayette residents Leroy Van der Vegt and his son Nick filmed the scene and posted it on YouTube.“It was comp
TechnologyApril 4, 2011
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Taekwang fined for irregular support for affiliate
The Fair Trade Commission said Sunday it fined nine Taekwang Group companies 4.6 billion won ($4.23 million) for illegally supporting one of its affiliates. The watchdog referred three of them to the prosecution for investigation. It is the first punishment of conglomerates since the FTC pledged last week to toughen its crackdown on irregular inter-affiliate transactions which conglomerates have o
April 3, 2011
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Korea Herald’s iPhone app opens a new chapter
(The Korea Herald launches its iPHone app)Korea’s leading English daily introduces its news app for the iPhone, which integrates English news and education. The news app, now available at Apple’s app store, is designed to differ from previously introduced news apps. With The Korea Herald’s 58-year track record in providing English news and English educational content, The Korea Herald news app for
TechnologyApril 3, 2011
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Korea Herald debuts news app for iPhone
Korea’s leading English daily integrates English news and education for the first time in the nation with its news app for Apple’s iPhone users. The Korea Herald news app is the fastest way to get updated with real-time news and the smartest way to enhance one’s English level. It features useful, substantial English education contents in the e-study section. It provides short video lectures, audio
TechnologyApril 3, 2011
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Herald Media a frontrunner in digital era
Herald Media strives to become the nation’s best and very first provider for a variety of mobile services, including news and lifestyle guides.The Korea Herald, which has the largest circulation in Korea among English language dailies, introduced the country’s first English mobile news alert service, “Herald Topic,” last September. The service sends three text messages a day in the form of an Engl
TechnologyApril 3, 2011
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BOK challenges FSS over probe right
Dispute resurfaces over the central bank’s supervisory authority A fresh dispute is brewing over the mandate of financial supervision as the Bank of Korea is stepping up its demand for the right to inquire into financial institutions independently.The primary authority to investigate banks, securities, insurance and other financial companies currently belongs to the Financial Supervisory Service.
April 3, 2011
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Glam Media launches...Korean service
Global digital media firm Glam Media launched a website in Korean last week.As a network of sites targeting women, the website offers information ranging from beauty, fashion, style, celebrity and lifestyle, enabling its visitors to access a variety of information in a single visit.It also partnered with well-known global magazines such as Marie Claire and Luxury to provide content most frequently
IndustryApril 3, 2011