Most Popular
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Han Kang speaks up on Nobel Prize, thanks ‘enormous wave’ of blessing
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Han Kang declines press conference, not to celebrate, citing global wars
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Former Ador CEO gains ground in legal battle with Hybe, as whistleblower reveals plagiarism evidence
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BTS’s V and RM celebrate Han Kang’s Nobel Prize in literature win
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Han Kang drives readers to bookstores both online and offline
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Han Kang: From blacklist to Nobel laureate
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BOK cuts key rate by quarter point to 3.25%
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No South Korean military drone entered Pyongyang skies: JCS
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Aunt sentenced to 15 years for throwing 11-month-old nephew from high-rise apartment
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Novelist Han Seung-won says daughter's historic Nobel win feels surreal
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BlackBerry maker to cut 2,000 jobs
NEW YORK (AP) ― Faced with tough competition and falling profits, BlackBerry maker Research In Motion Ltd. is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives.The job cuts amount to about 10 percent of the company’s work force. The company said Monday it will notify affected employees this week. It expects to give more information on th
IndustryJuly 26, 2011
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Food inflation likely in crop price outlook
IndustryJuly 26, 2011
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Greek finance minister pitches case to U.S., IMF
WASHINGTON (AFP) ― Greek Finance Minister Evangelos Venizelos said Monday that U.S. support is vital for Greece, after a day of Washington meetings as Athens pushed to finalize its second massive international bailout.“The support provided by the US government is especially important for Greece, for the eurozone, for the international economy and for the global economic governance,” he told report
IndustryJuly 26, 2011
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‘Swift U.S. debt action in global interest’
IndustryJuly 26, 2011
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Urban-planning expert to head GUIC
Lee Jae-young, an urban housing and planning specialist, took office on Monday as the new president of the Gyeonggi Urban Innovation Corporation.A former chief the of the land and housing unit at the Ministry of Land, Transport and Maritime Affairs, he will orchestrate the state-funded company’s residential land development activities. Lee Jae-yongAt his inauguration ceremony in Suwon, Gyeonggi P
IndustryJuly 26, 2011
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Study looks into personality factors affecting infidelity
Men with sexual performance anxiety are more likely to cheat on their partners, a new study on the factors that predict infidelity found.Men who are risk-takers or easily sexually aroused are also more likely to wander. For women, relationship factors seem to be most important factor, according to the research by U.S. and Canadian scientists.Maria Shriver (left) and Arnold Schwarzenegger smile tog
TechnologyJuly 26, 2011
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S. Korea to hike electricity prices by 4.9 pct next month
South Korea will raise electricity prices by 4.9 percent starting next month as part of its efforts to reflect rising power production costs, the commerce ministry said Tuesday.Electricity bills for household consumption will grow 2 percent from August, while those for commercial and industrial use will increase 4.1 percent and 6.1 percent, respectively, according to the Ministry of Knowledge Econ
July 26, 2011
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Sperm bank launches online catalogue of donor’s characteristics, appearance
The London Sperm Bank has established an Internet database of sperm donors. It provides descriptions of the personality, hobbies and fashion sense of donors, the Telegraph reported.The online catalogue includes the motivations of male donors, followed by the impressions of staff as to what the donors are like.In the brochure, one is described by a member of staff as “softly spoken, introspective,
TechnologyJuly 26, 2011
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Australian construction firms accused of abusing workers
Some Australian construction companies based in Sydney have been accused of maltreatment of immigrant workers, labor unionists said.The Construction, Forestry, Mining and Energy Union (CFMEU) of Australia claimed they are taking advantage of foreign workers by hiring them through illegitimate procedures while paying wages below minimum level.CFMEU estimated that of 13,000 temporary foreign workers
IndustryJuly 26, 2011
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Banks' loan default rate dips to 6-month low in June
South Korean banks' loan delinquency rate fell to the lowest level in six months in June due mainly to a decline in project financing loans, the financial watchdog said Tuesday.The average delinquency rate of bank loans to companies and households stood at 0.97 percent as of the end of June, down 0.33 percentage point from the previous month, according to the Financial Supervisory Service (FSS).Th
July 26, 2011
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Outlook grim for top Korean IT firms
Companies fail to lure customers due to lack of killer productsThe nation’s electronics bellwethers are unlikely to give markets the push they need, as they are expected to post lackluster earnings reports for April-June as demand lagged due to a lack of must-have products, industry sources said Monday.Samsung Electronics, the world’s largest memory-chip maker, recently said in an earnings guidanc
IndustryJuly 25, 2011
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Doosan Heavy sees 158% rise in Q2 net
Doosan Heavy Industries and Construction Co.’s second quarter sales came in at 1.48 trillion won ($1.4 billion), rising 21.17 percent from a year ago, the company posted in a regulatory filing on Monday.Over the same period, the company’s operating profits fell 11.68 percent to 144.5 billion won while its net profits soared 158.04 percent to come in at 158.3 billion won.Compared to the first quart
IndustryJuly 25, 2011
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Renault Samsung starts new SM7 production
Renault Samsung Motor Co., the South Korean unit of French automaker Renault SA, said Monday that it started mass production of its completely new SM7 luxury sedan.The carmaker said the flagship luxury car is being manufactured at its Busan plant 453 kilometers southeast of Seoul with the vehicles to reach consumers in mid August. Renault Samsung Motor Co. executives and workers applaud at a cerem
IndustryJuly 25, 2011
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Korea to build Venetian-style floodgates
Korea plans to set up high-tech facilities to stave off flooding at the country’s seaports, including flap gates similar to those being built in Italy’s Venice, the government said Monday.The Ministry of Land, Transport and Maritime Affairs unveiled a package of measures to minimize the impact of natural disasters such as earthquakes, floods, typhoons and tidal waves, which are increasingly freque
July 25, 2011
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People in 40s hop on smartphone bandwagon: report
The average age of new smartphone owners has risen, according to a recent report.A report entitled “Mobile divide in the smartphone era,” recently announced by KT’s DigiEco and the office of research affairs at Yonsei University, said that the portion of new smartphone users in their 40s has jumped to 24.7 percent in November last year, from 11.6 percent earlier in May.The percentage is higher tha
July 25, 2011
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STX fined for cutting payments to contractor
STX Offshore and Shipbuilding Co. will face punitive measures for unfairly reducing subcontracting fees to a service provider, a state-run antitrust regulator said Monday. The nation’s leading shipbuilder, based in Changwon, South Gyeongsang Province, had signed a contract with a subcontractor, identified by its initial H, since 2008 for the work of putting vessels together to be moved.For six mon
IndustryJuly 25, 2011
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SC First chief pledges to resolve strike this week
Richard Hill, chief of the Korean unit of Standard Chartered, on Monday expressed his “deepest regret” for service inconvenience due to an ongoing strike and pledged his commitment to resolving the dispute over the introduction of a performance-based pay system this week.During a press conference in Seoul, Hill bowed in apology to the Korean public. The news conference was held as the bank’s labor
July 25, 2011
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Strong won pressures BOK on rate policy
The possibility that the Korean currency will rise in value up to nearly 1,000 won against the U.S. dollar is growing with recent stronger position of the won.The dollar has slid to around 1,050 won, the cheapest level in nearly three years due mainly to the combination of a strong trade balance and policy factors. Research analysts say the won’s gain is logical. They cite three reasons in particu
July 25, 2011
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Six credit card firms face FSS sanctions
The nation’s biggest credit card firms are expected to receive regulatory punishment for unauthorized sales activities.The Financial Supervisory Service has uncovered about 20,000 irregular cases including reckless issuance of credit cards.Since May, the regulatory agency has been probing six major credit card issuers ― Shinhan, Hyundai, KB Kookmin, Samsung, Lotte and Hana-SK ― in a bid to curb ex
July 25, 2011
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Government, BOK seek new relationship
Finance Ministry, central bank hold first consultation meetingSouth Korea’s Finance Ministry and the central bank held their first meeting to share views on macroeconomic policy on Monday in Seoul, pledging to help coordinate government initiatives to tame inflation, though skepticism lingers about the motive behind the meeting. “Inflation is a common issue confronting the whole world and it start
July 25, 2011
