Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Incheon Airport named world’s best for 6th year
Incheon Airport was selected the Best Airport Worldwide for the sixth consecutive year. (Yonhap News)Incheon International Airport was selected the Best Airport Worldwide in Airport Service Quality in 2010 for the sixth consecutive year, beating rivals Changyi Airport of Singapore and Hong Kong International Airport, The Ministry of Land, Transport and Maritime Affairs said Tuesday. It is the firs
IndustryFeb. 16, 2011
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Creditors to extend deadline for Daewoo Electronics sale
Creditors of Daewoo Electronics Corp. have decided to give two more months to Entekhab Industrial Group to help the Iranian electronics firm finance a deal to buy South Korea's third-largest electronics company, sources said Wednesday. Last November, state-run debt clearer Korea Asset Management Corp. (KAMCO) and other creditors sealed a deal to sell a combined97.5 percent stake in Daewoo Elec
IndustryFeb. 16, 2011
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Samsung updates bada mobile platform
BARCELONA, Spain (Yonhap) -- Samsung Electronics Co., the world's second-largest maker of mobile phones, said Wednesday that it has released the updated version of bada, the company's proprietary mobile operating system. Samsung added a multitasking feature and mobile payment technology called Near Field Communication (NFC) and voice recognition functions to the second generation of its mobile
IndustryFeb. 16, 2011
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S. Korean shipbuilders fall far behind Chinese rivals in Jan.
South Korea failed to regain its status as the world's leading shipbuilding nation in January as it lagged behind China in key indicators, data showed on Wednesday. According to London-based market researcher Clarkson Research, South Korean shipbuilders won a combined 356,398 compensated gross tons (CGTs) in new orders last month, while Chinese shipbuildersclinched a total of 1.07 million CTGs
IndustryFeb. 16, 2011
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S. Korea's air traffic grows in Jan.
South Korea's air traffic grew last month from a year earlier as the global economic recovery boosted flight demand, the transportation ministry said Wednesday. South Korean air authorities controlled a total of 41,845 airplanes flying in and out of the country last month, up 8.7 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs. This marked the 19
Feb. 16, 2011
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S. Korean insurers' 2010 net likely to top 6 tln won
South Korea's life and non-life insurers are expected to post a combined net income of more than 6 trillion won (US$5.3 billion) in fiscal 2010 on strong sales and big players' impressive performances, data showed Wednesday. The combined earnings of the country's 16 life insurers and 15 non-life insurers in the first three quarters of fiscal 2010 totaled 4.54 trillion won, according to the data
Feb. 16, 2011
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S. Korea's jobless rate drops to 3.8 pct in Jan.
South Korea's jobless rate fell in January from a year earlier as the non-farm private sector expanded recruitment amid the economic recovery, a government report showed Wednesday. The jobless rate was 3.8 percent last month, down from 5 percent from a year earlier, according to the report by Statistics Korea. But it was up from the previous month's 3.5 percent. The number of working people st
Feb. 16, 2011
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Hyundai, Samsung seek alliance
Carmaker, electronics company nearing deal to develop ‘smart car’Hyundai Motor Co. and Samsung Electronics seek to collaborate in developing an automobile-smartphone link-up, sources said Tuesday. The largest automobile and electronics firms of Korea may sign a memorandum of understanding as early as next week, they said.The project will enable the built-in table computer on board Hyundai vehicles
IndustryFeb. 15, 2011
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Korea aims to be world’s No. 4 fisheries exporter
Korea aims to become the fourth-largest fisheries exporter in the world by 2020 through better marine resources management and creation of large, globally competitive fishing companies, the government said Tuesday.The Ministry for Food, Agriculture, Forestry and Fisheries said that the country will move to push up exports to $5.5 billion in the target year from around $1.8 billion shipped out in 2
Feb. 15, 2011
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Daum 2010 net nearly quadruples
Daum Communications Corp., the operator of Korea’s second-most visited search engine, said Tuesday that its earnings almost quadrupled last year from a year earlier on increased ad-based revenue.Net profit reached 112 billion won ($99.7 million) last year, compared with 31 billion won a year earlier, the company said in a regulatory filing.Sales soared 44 percent on-year to a record 346 billion wo
IndustryFeb. 15, 2011
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Korea ranks 5th in global auto production
Korea retained its status as the world’s fifth-largest automaking nation last year with over 4.2 million vehicles produced, a local industry body said Tuesday.The country’s five automakers produced some 4,272,000 cars in 2010, up 21.6 percent from a year earlier, according to the Korea Automobile Manufacturers Association (KAMA).China, the world’s largest market for automobiles, became the world’s
Feb. 15, 2011
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Lee tapped to serve 2nd term as Woori chief
Woori Finance Holdings Co., Korea’s No. 2 financial services company, on Tuesday nominated its incumbent chairman to remain at the helm, which analysts say will help accelerate the stalled privatization of the state-run banking group.The group’s ad hoc chairman selection committee chose incumbent Woori Finance Chairman Lee Pal-seung, 67, as the new chairman nominee, allowing him to serve another t
Feb. 15, 2011
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Foreign investors see KT shares as ‘undervalued’
HONG KONG (Yonhap News) ― Shares of Korean telecom giant KT Corp. are seen as undervalued among foreign investors, as Korea’s telecom industry is expected to further expand, boosted by smartphones, financial sources here said Monday.“Institutional investors in Hong Kong as well as in Singapore are looking into opportunities to buy KT shares, as they consider those shares are substantially underval
Feb. 15, 2011
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Korea posts trade surplus for 12 straight months in Jan.
Korea posted a trade surplus for 12 straight months in January, driven by robust exports of ships and vehicles, the nation’s customs office said Tuesday.The trade surplus amounted to $2.92 billion last month, according to data provided by the Korea Customs Service. This marked the 12th consecutive month of surplus since February 2010.Exports totaled $44.68 billion, up 45.4 percent from a year earl
Feb. 15, 2011
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Imports of crude, oil products soar in 2010
Korea’s imports of crude and refined oil products surged in 2010 from a year earlier, fueled by greater local and export demand, a government report showed Tuesday.According to the report by the Ministry of Knowledge Economy, the country brought in $89.6 billion worth of crude and refined oil products last year, compared with $65.5 billion the previous year.Crude imports jumped 35.4 percent on-yea
Feb. 15, 2011
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Finance minister warns of growing inflation burden
Korea’s economy could face a “burden” from growing inflationary pressure, the nation’s top economic policymaker said Tuesday, stressing that the government will push to head off price instability.“If raw material prices continue to rise, it could pose a burden on our economic recovery,” Finance Minister Yoon Jeung-hyun was quoted as saying during a meeting with other key policymakers.“In the short
Feb. 15, 2011
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Artificial retina helps some blind people
LONDON (AP) ― For two decades, Eric Selby had been completely blind and dependent on a guide dog to get around. But after having an artificial retina put into his right eye, he can detect ordinary things like the curb and pavement when he’s walking outside.“It’s basically flashes of light that you have to translate in your brain, but it’s amazing I can see anything at all,” said Selby, a retired e
TechnologyFeb. 15, 2011
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LG hopes to sell 30m smartphones in 2011
BARCELONA, Spain (Yonhap News) ― LG Electronics Inc., the world’s besieged No. 3 cell phone maker, aims to more than quadruple its smartphone sales from last year to 30 million units in 2011 in a bid to revive its money-losing mobile business, a company executive said Tuesday.LG will also lift its overall mobile phone sales by 30 percent to 150 million units, aiming to outnumber the industry’s sta
TechnologyFeb. 15, 2011
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MS says to bring full power of Web to phones
Multitasking, speedy IE9 coming to windows phoneBARCELONA (AFP) ― Microsoft announced Monday an Internet-friendly revamp of its Windows Phone operating system to help capture new territory in the smartphone wars.Microsoft chief Steve Ballmer unveiled a series of improvements this year to Windows Phone, which got a major boost last week when it was adopted by leading handphone maker Nokia.The softw
IndustryFeb. 15, 2011
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EU ministers agree on larger bailout fund
Eurozone to put up $674b for post-2013 bailout fund, disagreement over debt crisisBRUSSELS (AP) ― European finance ministers decided Monday to provide 500 billion euros ($674 billion) for a new crisis fund that will come into force in 2013, but continued to fight over the best way to combat the current debt crisis that has crippled the eurozone over the past year.The ministers “agreed on the provi
IndustryFeb. 15, 2011