The Korea Herald

N.Y. college Incheon campus OK’d

SUNY at Stony Brook plans to open school in Songdo next Feb.The State University of New York at Stony Brook received the nod from the Incheon Free Economic Zone Authority for its plan to set up a campus in Songdo next year, the Ministry of Knowledge Economy said Wednesday.The U.S. institution plans to open graduate school classes at the Songdo Global University Campus in the Incheon FEZ starting i

IndustryJuly 13, 2011

Money supply growth hits 7-year low in May

Korea’s money supply grew at the slowest clip in more than seven years in May as the government’s tax receipt rose and foreign stock funds flowed out of the country, the central bank said Wednesday.The country’s M2, a narrow measure of its money supply, reached 1,690.5 trillion won ($1,587 trillion) in May, up 3.7 percent from a year earlier, according to the Bank of Korea.The May number slowed fr

July 13, 2011

LG Display to build China plant in Dec.

LG Display Co., the world’s second-largest maker of liquid crystal display panels, will likely break ground on a new plant in China before December, an industry source said Wednesday. The company pushed back an initial plan to start construction of its eighth generation LCD plant in Guangzhou during the first half of this year, as panel prices continued to trend downwards. Despite the downturn in

July 13, 2011

SK Innovation given green light to sell Brazil venture

The Brazilian government approved the sale of SK Innovation’s Brazilian subsidiary to Denmark’s Maersk Oil, the Korean refiner announced Wednesday.The deal, which the company plans to close within one month, was first signed with the Danish firm in December and will see SK Innovation handing over its Brazilian subsidiary, SK do Brasil, to Maersk Oil for $2.4 billion.SK do Brasil was established in

IndustryJuly 13, 2011

VMware moves closer to customers with new solutions

At the top of VMware’s priorities for Korea, a nation becoming actively engaged in cloud computing, are plans for buttressing the firm’s localization initiative and moving closer to the business of its customers.“We need to get closer to the business of our customers and need to move up much closer, more to the consulting at the business level and become more vertically aligned so that our solutio

TechnologyJuly 13, 2011

VMware moves closer to customers with new solutions

OPEC sees slower growth in 2012 oil demand

IndustryJuly 13, 2011

China’s economic growth slows to 9.5%

China’s economy grew at a slower pace last quarter, a moderation that may ease inflation pressures in the world’s second-biggest economy. Gross domestic product expanded 9.5 percent from a year earlier, the statistics bureau said in Beijing Wednesday, after a 9.7 percent gain in the first quarter. That compared with the median 9.3 percent estimate in a Bloomberg News survey of 18 economists. Indus

IndustryJuly 13, 2011

IMF urges Italy to take ‘decisive’ action on deficit

WASHINGTON (AFP) ― The International Monetary Fund urged Rome to be decisive on cutting its deficit Tuesday as investors dumped Italian bonds and the country’s leaders rushed to pass a massive austerity plan.Amid worries that Italy could follow Greece and Portugal into a financial maelstrom and require a bailout, the IMF praised Italy’s reform program that has already cut its current deficit to 4.

IndustryJuly 13, 2011

IMF urges Italy to take ‘decisive’ action on deficit

Chinese secure first top post at IMF

IndustryJuly 13, 2011

Scientists grow first stem cell tooth

TechnologyJuly 13, 2011

Number of smartphone users tops 15 mln in S. Korea

SEOUL, July 13 (Yonhap) -- The number of smartphone subscribers in South Korea hit 15 million this week, according to data from the country's three mobile operators released Wednesday. South Korean smartphone subscribers numbered 15.35 million as of Monday, including 7.8 million users at the industry leader SK Telecom Co., 5.45 million at KT Corp. and 2.1 million at LG Uplus Corp., the mobile carr

TechnologyJuly 13, 2011

Half of Americans watch videos during work

About half of American adults watch online videos unrelated to work while on the job, a U.S. survey showed. Men watch twice as often as women.The study showed that 25 percent watch news clips and 15 percent view viral videos. Other popular choices were sports (11 percent) and television shows (9 percent). Some are bold enough to view full-length feature films (4 percent) and even pornography (3 p

TechnologyJuly 13, 2011

Half of Americans watch videos during work

Secondhand smoking linked to behavioral disorders in children

A new research revealed that children from households with smokers are more likely to develop behavioral disorders and learning problems than those from smoke-free homes.The findings were released in the journal “Pediatrics.”It was traditionally thought that secondhand smoke causes health problems for children including respiratory difficulties. A woman lights a cigarette for a photograph in New Y

TechnologyJuly 13, 2011

Secondhand smoking linked to behavioral disorders in children

S. Korea's jobless rate falls to 3.3 pct in June

South Korea's jobless rate declined in June from a year earlier as the nation added more jobs, helped by robust exports and expanded industrial output, a government report showed Wednesday.The jobless rate stood at 3.3 percent last month, down from 3.5 percent a year earlier, according to the report by Statistics Korea. It was, however, slightly higher than 3.2 percent in May.Job creation appears

July 13, 2011

Stocks dragged down by EU debt woes

Seoul stocks tumbled 2.2 percent Tuesday, stretching losses for a third day on worsening euro zone debt crisis and disappointing U.S. market performance overnight.The benchmark KOSPI slipped 2.2 percent to close at 2,109.73. KOSDAQ lost 1.55 percent and closed at 490.63.“This week, in large, is an adjustment period digesting the euro zone contagion fear as well as the weak unemployment data in the

July 12, 2011

Korea unveils action plans to cut emissions

Government aims to slash transportation emissions to 34 percent below projected levelsKorea outlined action plans to tackle climate change on Tuesday, breaking down reduction targets for high-emitting sectors in the medium term.The pan-governmental plan was devised to put the country’s low-carbon, green growth initiatives in motion, which President Lee Myung-bak launched in 2009 with a goal of cut

IndustryJuly 12, 2011

Samsung to unveil report on alleged leukemia link

Samsung Electronics on Thursday will unveil the results of a reexamination conducted by a U.S.-based consultancy on a recent court ruling that regarded leukemia as an industrial accident that occurred at a Samsung factory. Environ, a consultancy specializing in environmental and health issues, will be introducing the results of the review at Samsung’s Giheung semiconductor plant and respond to que

IndustryJuly 12, 2011

CEVA Logistics sees Korea as its fastest growing market

CEO says ‘Intelligent companies’ will pay attention to logistics industryJohn Pattullo, CEO of CEVA Logistics, described his company a “truly international combination.”“Our head office is registered in the U.K., while the company is owned by an American private equity. And the name is Italian,” the Scotsman told The Korea Herald.CEVA Logistics was established in August 2007, from the merger of TN

IndustryJuly 12, 2011

CEVA Logistics sees Korea as its fastest growing market

Business boost as shoppers try to beat wet, hot weather

Businesses are enjoying increased demand for rainy-season items such as rubber boots, umbrellas and dehumidifiers, since the nation entered the seasonal rainy spell last month. Over the past month, E-Mart, South Korea’s largest retailer, saw a surge in sales of umbrellas and rubber boots of 125 percent and 107 percent, respectively. Customers pick out dehumidifying agents and deodorants at a supe

IndustryJuly 12, 2011

Business boost as shoppers try to beat wet, hot weather

Nonghyup, ministry at odds over restructuring fund

Cooperative is in process of drastic restructuring to spin off financial operation into separate unitThe capital owned by South Korea’s state-run National Agricultural Cooperative Federation, or Nonghyup, stood at 16.1 trillion won ($15.22 billion) as of May, sparking fresh debate about how much the government should fork out to help it split up its units smoothly.Nonghyup is now drawing up a dras

July 12, 2011