Most Popular
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Qoo10 liquidity crisis sparks massive complaints, fears of wider damage
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Yoon urges municipalities to embrace foreigners
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What is happening at Hybe?
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S. Korea to consent to Japan's Sado mines gaining World Heritage status: official
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Korea unveils tax reform bill to spur economy
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Actor’s excessive airport security sparks probe into human rights violations
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Actor Yoo Ah-in accused of sexual attack
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Man who let his father die due to financial difficulties to be released on parole
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S. Korea, China shifting from tensions to cooperation: Seoul
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LG Electronics achieves record earnings in Q2
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Short-term stagflation looms large: economists
Finance minister urges all-out efforts to curb pricesThe government’s inflation fight appears to be losing its grip on energy, service and staple food prices set to rise further on uncertainties abroad.The inter-ministerial efforts to fight food inflation such as cutting food tariff and increasing crop supplies in the past few months have largely been offset by increase in import costs.Public util
IndustryJune 10, 2011
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Seoul is 5th most costly city in Asia
Seoul is the 5th most expensive city in Asia, according to a research “Cost of Living in Asia.”Conducted by ECA International, a global HR solution company, the data showed that the cost of living is highest in Tokyo. The other three cities pricier than Seoul were also in Japan -- Nagoya, Yokohama, and Kobe.The research is conducted twice a year, where the criteria are focused on consumer goods li
June 10, 2011
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Study finds why smokers gain weight when they quit
WASHINGTON (AP) _ Scientists say they have finally discovered why smokers tend to gain some weight when they kick the habit.It turns out that nicotine can rev up brain cells that normally signal people to stop eating when they are full, researchers report in Friday's edition of the journal Science.The weight connection is not huge: On average, quitters gain less than 10 pounds (5 kilograms). Still
TechnologyJune 10, 2011
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Apple eases rules on iPad, iPhone subscriptions
SAN FRANCISCO (AP) -- Apple has eased the subscription policies for its hot-selling iPad and iPhone in a move that should help newspaper and magazine publishers make more money from mobile devices.The change will make it easier for publishers to sell subscriptions for the devices outside Apple's online store.That's important to publishers because they have to give Apple 30 percent of the revenue f
TechnologyJune 10, 2011
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Hackers steal Citibank card data
NEW YORK (AP) -– About 200,000 Citibank credit card customers in North America have had their names, account numbers and email addresses stolen by hackers who broke into Citi's online account site.Citigroup Inc. said it discovered that account information for about 1 percent of its credit card customers had been viewed by hackers. Citi has more than 21 million credit card customers in North Americ
TechnologyJune 10, 2011
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BOK hikes key rate to 3.25% on inflation risk
Korea's central bank raised the key interest rate by a quarter percentage point on Friday following a two-month freeze, resuming its monetary tightening to curb persistent inflationary pressure.Bank of Korea (BOK) Gov. Kim Choong-soo and his fellow policymakers hiked the benchmark seven-day repo rate, dubbed the base rate, to 3.25 for June.The June rate hike, which marked the third increase this y
June 10, 2011
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Woman gets 152 Facebook friends tattooed
A woman from the Netherlands has engraved 152 of her online friends on her arm.While some criticize that friendships within the world-famous social network are just temporary, the woman proved that they can be far more permanent.After the tattoos were done, she posted a video clip on YouTube. In the video’s description, she wrote: “These are not all my friends. Just the people I care most about. I
TechnologyJune 10, 2011
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Hyundai Motor halts Asan plant operation following suicide
Hyundai Motor Co. was forced to halt output at one of its plants in South Korea Thursday after unionized workers talked off their job after one of their colleagues committed suicide, the company and union said.Assembly workers laid down tools at Hyundai's plant in Asan, about 100 kilometers southwest of Seoul, from 2:30 p.m., claiming that one of their leaders committed suicide earlier in the day
MobilityJune 9, 2011
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What you need to know about rheumatism
Rheumatoid arthritis, or RA, is an autoimmune disease that causes inflammation of the joints. In rheumatoid arthritis, the immune system ― which is designed to protect our health by attacking foreign cells such as viruses and bacteria ― instead attacks the body’s own tissues, specifically the joints. As a result, fluid buildup causes pain and inflammation. Rheumatoid arthritis is a chronic disease
TechnologyJune 9, 2011
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Korea to support hydrogen steelmaking
The government will provide 150 billion won ($138 million) in support of developing the hydrogen reduction steel-making method, the Ministry of Knowledge Economy revealed Thursday.The funds, which the ministry estimates will cover 54 percent of development costs, will be provided from 2012 if the studies under way now show the project to be feasible, the ministry said. In hydrogen reduction steel
IndustryJune 9, 2011
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Diageo to host bartending contest
Diageo Korea, the local unit of the U.K.-based drinks group, said it will hold the regional final of its international bartending competition in Seoul on June 21. Since January, about 200 Koreans have been vying for a ticket to the annual World Class 2011 slated for July 11-14 in New Delhi, India, the host said. The final will bring together 10 qualifiers from four heats. The local contestants wil
IndustryJune 9, 2011
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KEPCO to honor scholars for research
Korea Electric Power Corp. said on Thursday it plans to award a prize to two Seoul National University scholars for their achievement in the local energy industry. Kim Tai-yoo and Park Jong-keun became the first winners for the KEPCO Research Grand Prix, which the state-run utility launched this year to commemorate the 50th anniversary of its foundation. Kim was selected for “his outstanding resea
IndustryJune 9, 2011
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SKT ties up with Nautilus Hyosung
SK Telecom said Thursday it signed an agreement with Nautilus Hyosung Inc. to work together on the mobile carrier’s smart finance business project.The country’s leading mobile carrier said that it formed a partnership with Korea’ top automatic teller machine company to build smart branches.Smart branch is a mini branch service that uses SKT’s information and communication technology to offer vario
IndustryJune 9, 2011
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Gucci ditches Shilla for Lotte Duty Free
Italian fashion brand Gucci is closing both of its outlets from Shilla Duty Free in Incheon International Airport to move to Lotte Duty Free, a decision slapping Shilla for giving exclusive favors to the brand’s rival Louis Vuitton.Gucci is said to have complained to Shilla over the lower commission fee and favorable spots the Hotel Shilla affiliate gave to Louis Vuitton. The 10 to 20 percent of c
June 9, 2011
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Carriers move into mobile messenger business
Mobile carriers are moving into the mobile messenger field after wrestling with the surging popularity of existing mobile messengers which they claim have jammed networks and snatched away data fees.KT Corp., the country’s largest fixed-line service operator, released its own communication tool called “olleh talk” on Thursday.SK Telecom is also looking into introducing a mobile chat service as ear
IndustryJune 9, 2011
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Korean auto parts makers target Brazil
Korea’s auto parts manufacturers are aggressively seeking inroads into Brazil, the world’s fourth-largest automobile market.Brazil has emerged as the world’s sixth-largest automobile producer and sold about 3.6 million vehicles last year, grabbing the world’s fourth place.The active advancement of local companies has been fueled by the recently growing demand for made-in-Korea components in the So
MobilityJune 9, 2011
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Samsung staff brace for corruption crackdown
Chairman Lee says scandal prevalent throughout conglomerateEmployees at Samsung, the nation’s largest industrial group, are expected to face a conglomerate-wide shakeup as owner Lee Kun-hee was unable to shake his fury over the latest corruption scandal at a Samsung affiliate. “It seems that corruption is prevalent in all parts of Samsung,” was what Lee said on Thursday, a day after he said the co
IndustryJune 9, 2011
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POSCO launches campaign to become ‘loved company’
POSCO and its subsidiaries will aim to become “loved companies,” the companies announced in a ceremony Thursday.According to POSCO’s agenda, a loved company is one that satisfies all concerned parties including society, employees, clients, investors, suppliers and environment, while at the same time sharing cultural programs and company values with them. “The way forward for POSCO is (to become) a
IndustryJune 9, 2011
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Jeonse prices soar to 60% of property value
Lump-sum deposits, or jeonse, neared 60 percent of average housing prices in Seoul and its surrounding areas in the first quarter, reflecting a growing burden on low- and middle-income living on leases.A report on the housing market by KB Bank on Thursday said deposits for jeonse stood at 58.9 percent of apartment prices on average, the highest since it reached 59.5 percent in November 2004.Jeonse
June 9, 2011
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FSC seeks to ban lawsuits for small-amount financial disputes
The Financial Services Commission is to propose a bill banning financial companies from filing suits against customers if the disputes are over a “small” amount of transactions.The bill is expected to define small-amount dispute cases as those whose transactions do not exceed 5 million won ($4,600).While the FSC said the bill will be designed in coordination with relevant ministries, the regulator
June 9, 2011