Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Why is Apple Pay struggling to get purchase in Korea?
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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[Today’s K-pop] BTS pop-up event to come to Seoul
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[Graphic News] More Koreans say they plan long-distance trips this year
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Seoul shares rebound on recovery hopes
Korean stocks closed 2.2 percent higher on Thursday, recouping losses from earlier this week, as a series of encouraging economic data spurred strong foreign and institutional buying, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 42.42 points to 1,970.66. Trading volume was moderate at 277.2 million shares worth 5.13 t
March 3, 2011
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Hyundai pushes into premium market
Korea’s No. 1 carmaker launches i40 D-class vehicle at Geneva auto showGENEVA (AP) ― Fast-growing Hyundai may be best known for its small cars, but plans to break into the premium market with a new sedan has the big guys looking over their shoulders.The Korean automaker is not half as well known in Europe as Toyota, for example, and consumers typically associate its cars with affordability rather
IndustryMarch 3, 2011
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Hynix seeks delay of patent trial
Hynix Semiconductor Inc., Micron Technology Inc. and Nanya Technology Corp. asked a federal judge in California to delay a patent-infringement trial scheduled for May 2 over claims brought by Rambus Inc. Jared Bobrow, a lawyer representing the memory-chip makers, said in a letter Wednesday to U.S. District Judge Ronald M. Whyte in San Jose, California, that the trial should be taken “off calendar”
March 3, 2011
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Korea to spend W9b on renewable energy projects
The government will set up a 9 billion won ($7.8 million) fund this year to assist local firms’ clean energy projects overseas. The government’s latest move is part of the country’s efforts to make $40 billion from exports related to renewable energy such as photovoltaic and wind power by 2015.“The global renewable energy market is projected to be highly prospective, and thus will likely push up t
IndustryMarch 3, 2011
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Korean, Japanese firms to buy Brazilian rare metal miner
The National Pension Service and POSCO will acquire 5 percent stakes in a Brazilian producer of a rare earth metal used in steel, oil pipes and automotive components, they said on Thursday.They will each invest 400 billion won ($356 million) to acquire 5 percent of Brazil’s Companhia Brasileira de Metalurgia e Mineracao, the world’s largest producer of the scarce mineral niobium.CBMM controls the
IndustryMarch 3, 2011
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Korean airlines plan massive recruitment
The country’s air carriers are planning to recruit the highest-ever number of new employees this year, thanks to their record-breaking earnings reached in 2010.Korean Air is expected to hire up to 2,700 new workers, including flight attendants, pilots and technicians, in 2011.The nation’s No. 1 local airline employed 2,300 new hires last year and 2,050 new employees in 2009.Asiana Airlines, the se
IndustryMarch 3, 2011
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Businesses declare energy emergency
Korea’s business community declared an “energy emergency” Thursday, pledging to implement energy conservation measures to help the country cope with high-flying oil prices.The resource-poor country relies almost entirely on imports for its oil needs, with 82 percent being imported from the Middle East.In a meeting with Knowledge Economy Minister Choi Joong-kyung in Seoul, business leaders from the
IndustryMarch 3, 2011
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Industrial output rises faster than expected
Experts remain cautious due to oil prices, external uncertaintiesKorea’s industrial output grew faster than expected in January on strong overseas demand, with semiconductor and auto makers leading the way, official figures showed Thursday.But the government remained cautious about future economic trends, citing higher oil prices and other external factors that might serve as a drag on recovery he
March 3, 2011
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Foreigners turn to big net stock sellers
Foreign investors swung to massive net selling of Korean stocks in February as mounting inflation threats and political uprisings in Arab countries put a damper on sentiment, the financial regulator said Thursday. Foreigners pulled 3.7 trillion won ($3.3 billion) of Korean shares out of the local bourse last month, compared with net buying worth 1.4 trillion in January, the Financial Supervisory S
March 3, 2011
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Korea urges 3-way FTA with Japan, China
Korea needs to sign a three-way free trade deal with Japan and China in a bid to boost prosperity in Asia and better prepare for external shocks, a senior finance ministry official said Thursday.“Economic integration should be pursued to help the East Asian countries flexibly deal with global uncertainties and realize their co-prosperity in this region,” Vice Finance Minister Yim Jong-yong told an
March 3, 2011
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Asan hospital adopts new Gamma knife
The Asan Medical Center has adopted the cutting-edge Gamma knife device, “Perfexion” for its Gamma Knife Center.The center, which has recently marked 5,000 cases of operation for the first time in the nation, said the device will enhance accuracy and sophistication in the surgery room. Gamma Knife is a radiosurgical treatment that delivers a dose of gamma radiation to the target with surgical prec
TechnologyMarch 3, 2011
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Fertility treatment ‘Elonva’ approved
Elonva, infertility treatment by MSD-Korea, the Korean branch of the Merck & Co., gained the Korea Food and Drug Administration’s approval last week, the company said Monday. The follitropin beta (gene recombination)-based injection was proven effective for controlled ovarian stimulation (COS) on women receiving assisted reproductive technology. The drug can replace the seven-session injection of
TechnologyMarch 3, 2011
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SNU develops Parkinson’s treatment
Seoul National University Hospital’s Parkinson Center said Monday it has developed an original DBS Electrode Location Analysis System to treat Parkinson’s disease and will provide an international service online at http://delas.ondemand3d.com.The DELAS method involves transplantation of a 1.27 millimeter-thin electrode to the focus of the brain and providing constant electrostimulation to it. The
TechnologyMarch 3, 2011
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BMW introduces new Mini Countryman in S. Korea
BMW Korea, the South Korean unit of German automaker BMW Group, introduced a new BMW Mini in South Korea on Thursday, also bringing to Korea BMW Mini's first sport activity vehicle (SAV). BMW Korea introduces a new BMW Mini on Thursday. (Yonhap News) The new BMW Mini Countryman series come in three trims thatinclude the first four-door, all-wheel drive Mini, the Cooper S All4. All three versio
MobilityMarch 3, 2011
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Obama soon to submit Korea FTA to Congress for ratification: Clinton
The Obama administration will soon present the pending free trade deal with South Korea to Congress for ratification, Secretary of State Hillary Clinton said Wednesday. "I hope that that agreement will be submitted soon and acted on soon by the Congress," Clinton told a Senate Foreign Relations Committee. "I think it is very much in America's strategic and economic interests."President Barack Ob
March 3, 2011
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Korea-EU FTA bill to be tabled in parliamentary committee
A ratification motion for the free trade agreement between South Korea and the European Union will be presented to a parliamentary committee on Thursday for approval, lawmakers said. The ruling Grand National Party aims to pass the Korea-EU FTA motion through the National Assembly Committee on Foreign Affairs, Trade and Unification next Wednesday after two days of intensive discussion at its leg
March 3, 2011
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S. Korea's industrial output grows 13.7 pct in Jan.
South Korea's industrial output grew for the 19th straight month in January, a strong indication that the national economy is continuing to expand, a government report showed Thursday. According to the report by Statistics Korea, production in the mining and manufacturing industries rose 13.7 percent last month from the same month a year earlier. The output has increased since July 2009. Outpu
March 3, 2011
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S. Korea's foreign reserves hit fresh high in Feb.
South Korea's foreign exchange reserves climbed to a new high in February as a weaker U.S. dollar boosted the conversion value of assets in other currencies, the central bank said Thursday. The country's foreign reserves reached US$297.67 billion as of the end of February, up $1.71 billion from the previous month, according to the Bank of Korea. The reserves rose for the third consecutive mont
March 3, 2011
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Seoul shares open higher on auto, tech gains
South Korean stocks got off to a strong start on Thursday, fueled by advances in shares of automakers and technology firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose17.37 points, or 0.9 percent, to 1,945.61 in the first 15 minutes of trading. Autos propped up the KOSPI with Kia Motors rising more than 2 percent and Hyundai Mobis, the country's largest auto par
March 3, 2011
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Stagflation looms large on extended inflation: experts
Consumer prices rise 4.5% in Feb.Consumer prices in February rose above the government’s target for the second month in a row amid signs of slower growth, bolstering concerns of stagflation.The Consumer Price Index advanced 4.5 percent from a year ago to a 27-month high, following January’s 4.1 percent gain from last year. The Bank of Korea targets inflation rates to remain at 3 percent level for
March 2, 2011