Most Popular
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Samsung unveils 'personalized AI' for all devices
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Market uncertain on Korea's October rate cut despite slowed inflation
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Special counsel bill to probe first lady scrapped
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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Samsung forecast to log lower Q2 profit on weak panels, TVs
Samsung Electronics Co. will likely report lower-than-expected earnings for the second quarter, hit by flagging demand for TVs and slumping display prices, analysts said Wednesday. Samsung, Asia’s largest maker of smartphones, TVs, chips and display panels, is estimated to have earned 3.35 trillion won ($3.14 billion) in the April-June period, compared with 4.28 trillion won a year earlier, accord
July 6, 2011
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Banks, brokerages face limited impact from Korea-EU FTA
Korea’s financial industry is to face limited impact from the Free Trade Agreement with the European Union as there are few barriers in market access. On the other hand, the insurance industry is expected to benefit from the overall increase of trade.The Korea-EU FTA, which took effect July 1, is pushing banks, insurance companies, asset managers and other financial institutions in both economies
July 6, 2011
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Hana Financial defends lending to Lone Star
Hana Financial Group chairman Kim Seung-yuHana says regulators issued no edict against loanHana Financial Group has refuted criticism that it issued loans to Lone Star Funds, the biggest shareholder of Korea Exchange Bank, in defiance of regulators’ instruction.A Hana official denied the speculation that “the financial group made a lending totaling 1.5 trillion won ($1.4 billion) despite tackling
July 6, 2011
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NPS fund managers accused of selling favors to ex-colleagues
The National Pension Service, the world’s largest public pension, is under fire for its alleged lack of supervision of its staff operating a huge fund after the nation’s top auditor found irregularities. The Board of Audit and Inspection said some NPS officials were found to have given business favors to brokerages with school background ties in exchange for entertainment and money.The public agen
July 6, 2011
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KT expands campaign for mutual growth with vendors
KT Corp. chairman Lee Seok-chae (third from left) and IT firms’ executives attend a ceremony to vow mutual growth in Seoul on Wednesday. (KT)KT Corp., the nation’s largest fixed-line carrier, on Wednesday offered support and encouragement for its vendors at a forum it held for IT sector executives.KT said it would provide up to 1,000 free patents to its partner firms to help them offer better qual
IndustryJuly 6, 2011
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Hyundai Steel bets on excavator parts
Continuous tracks. (Hyundai Steel)Hyundai Steel is upping the ante in its earth-moving equipment parts business as it seeks to meet surging demand for excavators in emerging markets.Korea’s second-largest steel mill said Wednesday it plans to pour 94.4 billion won ($88.6 million) this year alongside its suppliers into a project to establish facilities for components such as continuous tracks, trac
IndustryJuly 6, 2011
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The evolving innovation landscape
WIPO Director General Francis GurryInnovation is a central driver of economic growth, development and better jobs. It is the key for firms to successfully compete in the global marketplace. Innovation provides the answer to numerous economic and social challenges, whether financial crisis recovery, climate change or the fight against deadly diseases. It is the source of improvements in the quality
July 6, 2011
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Twitter said to be valued at $7 billion
Twitter Inc. logos are displayed on computer screens. (Bloomberg)Twitter Inc., the microblogging site that lets users post 140-character messages, is raising funding that values the startup at about $7 billion, said a person with knowledge of the matter. The San Francisco-based company is in talks with investors to receive hundreds of millions of dollars, said the person, who asked not to be named
IndustryJuly 6, 2011
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3 global firms eye E-Mart’s units in China
Wal-Mart, Tesco, Ren Ren Le to be likely bidders: sourceThree well-known global companies have been taking part in the bid for E-Mart’s Chinese operations, according to a U.K.-based company specializing in information on M&As.Mergermarket, an independent mergers and acquisitions intelligence service, told The Korea Herald that Wal-Mart, Tesco and Ren Ren Le are most likely in line to take over E-M
IndustryJuly 6, 2011
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Ovulating? Urine test more precise than calendar: study
MCTSTOCKHOLM (AFP) - Women trying to conceive are better served by a urine test to determine if they are ovulating than the more commonly used calendar method, the makers of the test said at a Stockholm conference Tuesday.“The calendar method is good to help women to start to understand how their cycle works, but if women are really trying to conceive ... it‘s not really the best method to use,”
TechnologyJuly 6, 2011
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Reading books aloud may disrupt learning
(MCT)Having children reading books aloud may not be an effective way of educating them. In fact, it may hinder students from acquiring new vocabulary, said researchers from New Zealand.When children under age 6 learn reading via sound, they tend to create a “cognitive footprint” which results in a long-term disadvantage. Phonics students also found it hard to identify real words from words that ar
TechnologyJuly 6, 2011
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Korea creates engineered pig more viable for human organ transplants
Korean scientists have created a genetically modified pig that has a better chance of success in animal-to-human organ transplants, a state institute said Wednesday.The new pig, named Somang-i, is designed to produce an antigen (the human lymphocyte differentiation antigen, cluster of differentiation 73 or CD 73) that will help prevent hyperacute rejection of animal organs by human bodies, accordi
TechnologyJuly 6, 2011
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Hyundai Heavy says it will not bid for Hynix
Hyundai Heavy Industries Co., the world's leading shipbuilder, said Wednesday it will not bid for a stake in Hynix Semiconductor Inc., raising speculation that creditors may fail again to sell the world's second-largest computer memory chipmaker.Hyundai Heavy had been regarded as the sole potential investor for the 15 percent stake up for sale.Shares of Hyundai Heavy were trading at 478,500 won on
IndustryJuly 6, 2011
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How to goof around without your boss knowing
(MCT)Office workers who spend everyday glaring at a computer screen find it hard to keep their concentration throughout work hours. It is difficult to access Facebook, Twitter or other websites when the boss is watching.“Here comes my boss” (http://web.humoruniv.com/prog/ohmygod/ohmygod.html), provided by popular site Humor University, is a simple route to avoid being caught slacking: It returns t
TechnologyJuly 6, 2011
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Public forum on FTA on Thursday
A conference on economic opportunities and challenges arising from the Korea-EU FTA which came into effect on July 1 will take place in Seoul on Thursday.The conference, taking place at the Koreana Hotel from 2 p.m., will also examine the current economic crisis in Europe and economic development in Korea. The event is being jointly hosted by the Center for Free Enterprise, a Seoul-based free mark
July 5, 2011
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Incheon Airport Corp. buys 10% stake in Russian airport
Incheon International Airport Corp. announced Tuesday it has acquired a 10-percent stake in Khabarovsk Airport in Russia’s Far East, stepping up its charges into the development of the Russian partner.This makes the IIAC the first foreign airport operator to step into management of a Russian airport, which has been safeguarded by the government there as a national strategic industry.As the third-l
IndustryJuly 5, 2011
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Watchdog OKs Gmarket-Auction merger
The Fair Trade Commission on Tuesday gave the green light to the merger of the nation’s two biggest online retailers operating under EBay Inc., ruling that the combination would not hinder the industry’s level of competition.The watchdog’s approval of the Gmarket-Auction merger came after their parent EBay had applied for the deal in March. After studying the deal for three months, the FTC said th
July 5, 2011
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End of fuel discount raises tension among refiners
A banner advertising a 100-won discount per liter on fuel is seen at a gas station in Seoul on Sunday, three days before the scheduled end of the discount period. (Yonhap News)Tension among refiners is flaring up again with the government pressuring them to bring fuel prices back to normal rates in stages.Under pressure from the government, local refiners lowered the pump price of motor fuel by 10
IndustryJuly 5, 2011
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Korea to foster indium, lithium exploration
Korea will crank up its push for exploit indium and lithium around the world by facilitating local companies’ direct investment into the two scarce metals by law, the government said Tuesday.The Ministry of Knowledge Economy said it plans to place indium, a key element of liquid crystal displays and touch-screens, on a list of 49 foreign rare metals. Lithium, used in aircraft and electric car batt
July 5, 2011
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Sales forecast for KOSPI-listed firms drops
Revised estimate comes after reduction in government’s growth projectionThe average level of revenue KOSPI-listed firms are expected to generate in the second half of the year dropped, stock analysis said Tuesday, raising concerns over a slower economic growth on weaker consumption and waning exports.The estimation of operating profits for 115 listed companies on KOSPI for the July-December period
July 5, 2011
