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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Woman gets suspended term for injuring boyfriend with knife
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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Venture aims at billion-seller apps
Podotree, a recently-launched local mobile application venture firm, announced Monday that it aims at 1 billion downloads and 1 trillion won in sales within the next five years.In a press conference held in downtown Seoul, it unveiled its lineup of four applications in three different genres ― story of mankind, inspiring toy and study 101.“The role of podotree is meaningful in that it is not fight
IndustryMarch 28, 2011
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Samsung, Sumitomo Chemical to align on key LED component
Samsung LED Co. on Monday said that it has agreed with Japan’s Sumitomo Chemical Co. to form a joint venture to produce sapphire wafers that are necessary components of light-emitting diode, a semiconductor light source.The LED manufacturer said the 50-50 venture will be capitalized at 80 billion won ($72 million), with production of sapphire ingots and wafers scheduled to begin early next year.Th
IndustryMarch 28, 2011
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Sony Ericsson smartphone to debut in Korea in April
Sony Ericsson on Monday said it will be releasing its new smartphone, “Xperia Arc” in South Korea next month through SK Telecom. South Korea will be the second nation to see the launch of Xperia Arc, following the firm’s home turf of Japan.“We want Xperia Arc to be known not only for its design, but as a phone defining new smartphone standards,” said Han Youn-hee, head of the firm’s South Korean m
IndustryMarch 28, 2011
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Renault Samsung exports top 400,000
Carmaker bounces back from 2009 slump with bumper year for overseas shipmentsRenault Samsung Motors Co. announced Monday that its exports since 2000 broke the 400,000 mark on March 25.According to the company, with a Kuwait-bound ship carrying 1,023 cars leaving Busan port, its cumulative exports since September 2000 rose to 400,250 units. Renault Samsung Motors Co. vehicles wait to be loaded on
IndustryMarch 28, 2011
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Japan Airlines focuses on tie-ups as it exits court protection
Japan Airlines Corp., once the world’s largest international carrier, is set to emerge from bankruptcy administration this week as a smaller company more reliant on Asian routes and global partners. JAL has scaled back its global network, chopping 49 routes, including Sao Paulo, Amsterdam and Milan, and grounding the last remnants of what was the world’s largest Boeing Co. 747 fleet as it cuts 103
IndustryMarch 28, 2011
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Porsche to start $7b share sale to cut debt burden
Porsche SE, the sports-car maker that plans to merge with Volkswagen AG, will start 5 billion euros ($7 billion) share sale March 30 to reduce debt. The carmaker’s supervisory and executive boards signed off on the plan to sell shares at 38 euros apiece to current owners, Stuttgart, Germany-based Porsche said in a statement late Sunday. One existing share carries the right to subscribe to 0.75 new
IndustryMarch 28, 2011
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Tepco chief pressured to quit on reactor crisis
Tokyo Electric Power Co. President Masataka Shimizu is facing calls to quit after the crisis at the utility’s Fukushima Dai-Ichi nuclear plant capped a tenure that has seen $26 billion wiped off the company’s market value. The share price decline since Shimizu took charge in June 2008 at Tepco, as the company is known, has deepened to 67 percent in the aftermath of the nuclear disaster, as of the
IndustryMarch 28, 2011
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Sinopec to cut costs, expand overseas
China Petroleum & Chemical Corp., Asia’s biggest refiner, will cut costs and accelerate its expansion overseas as government controls prevent the company from passing on higher crude-oil prices to customers.Profit rose 14 percent to a record 71.8 billion yuan ($11 billion) last year, the company known as Sinopec said Sunday. Net income missed analysts’ estimates and trailed Cnooc Ltd.’s 85 percent
IndustryMarch 28, 2011
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Air China raises fuel surcharge: Xinhua
surcharge on flights from China to Europe, excluding Russia and Turkey, to 1,000 yuan from 950 yuan per passenger, the official Xinhua News Agency reported. The increase is effective from April 1, according to the report.Hong Kong Dragon Airlines Ltd. raised its fuel surcharge from April 1 for flights from China to Hong Kong to $24.90 per passenger, Xinhua reported, without saying what the previou
IndustryMarch 28, 2011
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Wal-Mart to reopen half of Japan stores
Wal-Mart Stores Inc., the world’s largest retailer, is resuming normal operations at half the stores hampered by Japan’s strongest earthquake as residents struggle to find water, food and other necessities. A dozen of Wal-Mart’s Seiyu stores in the quake-hit Sendai area are restarting full operations Monday after being limited mostly to relief efforts for two weeks, Scott Price, Wal-Mart’s Asia ch
IndustryMarch 28, 2011
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Nintendo ready to take 3-D gaming to mass market
NEW YORK (AP) ― With the Nintendo 3DS, the Japanese video game company is betting that it can once again nudge mass entertainment in a new direction, just as it did nearly five years ago when it launched the Wii with its innovative motion-based controller.This time, though, the competition from other devices is tougher.The handheld 3DS, which goes on sale in the U.S. on Sunday for $250, lets users
IndustryMarch 28, 2011
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[Meet the CEO] Ex-Im Bank chief seeks South America ties
CEO Kim says will seek alliances with lenders in the regionThe state-run Export-Import Bank of Korea is pushing to enhance cooperation with Latin American lenders to support the nation’s growing presence in the rapidly growing region.Its chairman and president Kim Yong-hwan stressed the importance of linking Korean enterprises with Brazil ahead of the 2014 World Cup finals and 2016 Summer Olympic
March 28, 2011
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LG Display accepts apology from Samsung executive
LG Display Co., the world's second-largest maker of liquid crystal display (LCD) panels, said Monday that it has decided to accept an apology from a Samsung executive who insulted LG engineers in a public event.The company said it has received a letter of apology from Kim Hyun-sik, vice president of Samsung's visual display business, regretting his use of a swear word to insult engineers at the ri
TechnologyMarch 28, 2011
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Docs warn about Facebook use and teen depression
CHICAGO (AP) -- Add ``Facebook depression'' to potential harms linked with social media, an influential doctors' group warns, referring to a condition it says may affect troubled teens who obsess over the online site. Researchers disagree on whether it's simply an extension of depression some kids feel in other circumstances, or a distinct condition linked with using the online site. But th
TechnologyMarch 28, 2011
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Big quakes don't set off others far away: study
NEW YORK (AP) -- Here's some good news in the wake of Japan's isaster: A new study says big earthquakes don't set off other dangerous ones around the globe.Big quakes do trigger local aftershocks, but researchers found no sign of setting off moderate-sized events beyond about 600 miles (1,000 kilometers) away.That won't surprise most experts, said lead study author Tom Parsons. But it's different from his prior research, which did find a global effect for setting off small quakes, said Parsons,
TechnologyMarch 28, 2011
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Japanese funds return to S. Korean markets
Japanese investors have been putting their money into the South Korean financial market even after Japan's devastating quake, data showed Monday, easing speculation that they may repatriate overseas assets to finance Japan's post-quake rehabilitation.The 9.0-magnitude earthquake and ensuing tsunami hit the northeastern part of Japan on March 11, leaving more than 20,000 people dead or injured.Japa
March 28, 2011
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Construction sector shrinkage steepest in over a decade
South Korea's construction sector contracted at the sharpest rate in more than a decade in the fourth quarter of last year due mainly to a protracted property market slump, data showed Monday. The construction sector shrank 5.3 percent in the fourth quarter from three months earlier, according to the data by the Bank of Korea and Statistics Korea. The on-quarter decline is the steepest since
IndustryMarch 28, 2011
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Seoul shares open a tad higher
South Korean stocks began marginally higher on Monday but traded in a narrow range as investors opted to take a breather following last week's climb, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.51 points, or 0.02 percent, to 2,054.55 in the first 15 minutes of trading. Last week, the KOSPI finished up 3.68 percent from a week earlier. Techs were bullish w
March 28, 2011
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Warning against banks comes again
Major commercial banks should refrain from engaging in excessive competition to increase their assets as there is a possibility that they will face financial difficulties, a report said on Sunday.The Korea Institute of Finance likened the current situation to that of the period between 2005 and 2008, when banks saw their profitability continue to worsen due to heated competition.The cautionary adv
March 27, 2011
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Hyundai Heavy provides power generators for Japan
Hyundai Heavy Industries Co.’s transportable power-generating equipment to be delivered to Japan is loaded onto a ship at a port in Ulsan on Saturday. (Hyundai Heavy Industries Co.)Hyundai Heavy Industries Co., the world’s top shipbuilder, said Sunday that it sent four power generators to Japan over the weekend in support of the disaster-stricken country’s efforts to ensure a stable electricity su
IndustryMarch 27, 2011