Most Popular
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Chuseok still is a headache for couples
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N. Korea launches trash balloons toward S. Korea for 2nd day: JCS
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Heat wave watch issued for Seoul; latest on record
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Students suffer sleep deprivation, fatigue, suicidal thoughts
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Nearly 2,000 aging separated family members die in first 8 months of year: gov't data
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Popular tourist destinations beckon Chuseok holidaymakers
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Yoon's approval rating hits new low: poll
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On the road for Chuseok? Popular rest stop foods await
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Only 12 pct of unsafe food imports taken off market for disposal: report
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Naver Map starts providing natural disaster information
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Australian P.M. names record number of women in cabinet
SYDNEY (AFP) ― New Australian Prime Minister Kevin Rudd unveiled his cabinet on Monday, bringing in a record number of women and switching the focus to the economy ahead of upcoming elections.Rudd seized the leadership last Wednesday, three years after he was suddenly ousted by his center-left Labor Party.With Labor trailing badly in the polls, the party dumped Julia Gillard and has seen an immediate bounce in popularity.“I am delighted that in this cabinet of ours we will have the largest numbe
World NewsJuly 1, 2013
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Protests target Confederations Cup match in Rio de Janeiro
RIO DE JANEIRO (AP) ―More than 5,000 antigovernment protesters marched Sunday near the Maracana football stadium before a major international match, venting their anger about the billions of dollars the Brazilian government is spending on major sporting events rather than public services. Though smaller in size, the march was the latest in a wave of protests that has spread across this continent-sized country in recent weeks. Many are calling the protest movement the biggest seen here in decades
World NewsJuly 1, 2013
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Nokia buys Siemens stake in joint unit for $2.2b
Nokia Oyj agreed to buy Siemens AG’s share in their six-year venture for 1.7 billion euros ($2.2 billion), a deal that would give the Finnish company full access to the phone-equipment manufacturer’s cash flow. Nokia will pay 1.2 billion euros for Siemens’s 50 percent stake in Nokia Siemens Networks, with the remainder as a secured loan from Siemens due a year after the deal’s completion, the companies said in a statement Monday. Nokia Siemens will keep its headquarters in Espoo, Finland, and Ra
World BusinessJuly 1, 2013
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Taiwan’s TSMC gets orders from Apple: report
TAIPEI (AFP) ― Apple has struck a deal with the world’s biggest contract microchip maker in what analysts see as an attempt to reduce its reliance on arch-rival Samsung, a report said. The U.S. tech giant forged the agreement with Taiwan Semiconductor Manufacturing Co. earlier this month, according to the Wall Street Journal, which cited unidentified TSMC executives.It said manufacturing of the chips, to be used in Apple mobile devices, would start early next year.The Journal said the move is th
World BusinessJuly 1, 2013
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Police say SKorean man spurred NJ school lockdown
SEOUL, South Korea (AP) – South Korean police say a local man is responsible for prank 911 calls that prompted school lockdowns in New Jersey last year.The Seoul Metropolitan Police Agency said Monday in a statement that a 19-year-old surnamed Lee made calls from South Korea to a New Jersey communications center and threatened to use an AK-47 to kill students at Hackettstown High School.The calls led schools in the northwestern New Jersey town and at Centenary College to keep students inside for
Social AffairsJuly 1, 2013
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Halving world hunger by 2015 ‘within reach’
GENEVA (AFP) ― Despite economic crisis and dwindling aid, the U.N. said Monday huge progress had been made towards meeting the so-called Millennium Development Goals, including its bid to slash world hunger in half between 1990 and 2015. “Given reinvigorated efforts, the target of halving the percentage of people suffering from hunger by 2015 appears within reach,” said a U.N. progress report on its eight Millennium goals.Thirteen years ago, world leaders drew up the MDG’s, with specific targets
World BusinessJuly 1, 2013
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KT launches marketing offensive
KT, the second-largest mobile carrier in Korea, announced Monday that it would provide its customers twice as many services as usual from July through October. “In order to repay our customers for their support, we will provide double the amount of services,” said Pyo Hyun-myung, president of the mobile business unit at the mobile service provider, at the launching event of the promotion. More data, more membership benefits and easier access to customer service are among the five major services
IndustryJuly 1, 2013
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Hyundai Motor bets big on Middle East
Hyundai Motor’s years of pouring substantial resources into the Middle East are showing some results recently, especially in sales of its high-end models there, company officials said Monday. According to the Korean auto giant, sales of the Hyundai Grandeur, Genesis and Equus rose 5.5 percent to 7,930 vehicles in the first five months this year from the same period last year. The Grandeur sedan was the biggest seller at 5,676 vehicles, while sales of the Genesis and Equus were 1,949 and 214, res
IndustryJuly 1, 2013
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Domestic car sales drop in June
Hyundai Motor, Korea’s largest carmaker, said Monday that its sales advanced 8.2 percent in June from a year earlier on the back of solid sales in overseas markets.Hyundai Motor sold a total of 404,368 vehicles last month, compared with 373,675 units the previous year, the company said in a regulatory filing.Its domestic sales, however, declined 7 percent on-year to 55,548 units last month while overseas sales advanced 11.1 percent to 348,820 units, according to the carmaker.Its affiliate Kia Mo
IndustryJuly 1, 2013
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‘Anonymous’ cyber attacks resume
Hackers claiming to be from hacktivist group “Anonymous” once again wracked the nation by launching fresh cyber attacks against 10 government agencies, local dailies and private firms on Monday, less than a week after similar attacks on the websites of Cheong Wa Dae, the presidential residence, government offices and political parties.The websites of local newspapers Yeongnam Ilbo and Gyeongnam Ilbo; Cyber Dokdo, a government-run promotion website for the easternmost islets of Dokdo; and the con
TechnologyJuly 1, 2013
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FTC imposes corrective measures against hotels
Korea’s Fair Trade Commission said on Monday that it imposed corrective measures against 20 deluxe hotels in Seoul for restricting their customers’ options for wedding floral decorations.The antitrust agency said that such premium luxury hotels forced their customers to buy and use either their in-house flowers or ones provided by their suppliers for wedding decoration.The measures included allowing consumers from now on to have wider choices such as purchasing other decorative products besides
July 1, 2013
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SK Innovation launches two subsidiaries
SK Innovation Co., the holding company of South Korea’s top refiner SK Energy Co., said Monday it launched two subsidiary units, SK Incheon Petrochem and SK Trading International, in order to combat the rapidly changing global business environment. Last May, SK Innovation decided to spin off its Incheon refinery complex and oil trading division into two respective entities. SK Incheon Petrochem will spend 1.6 trillion won ($1.4 billion) on the expansion of its plants for the production of higher
July 1, 2013
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KT&G to launch RAISON ice Presso
The nation’s largest tobacco maker KT&G will launch “RAISON ice Presso,” the newest in its decade-old RAISON series, on July 3. RAISON ice Presso comes with two different flavors, the company said. Its initial coffee taste turns apple mint-fresh as the smoker pops the “ice capsule” within the cigarette.KT&G noted that the new product is reflective of the success of its predecessor, “RAISON Presso,” that it launched in July 2012, after four years of research and development. RAISON ice Presso is
IndustryJuly 1, 2013
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Korean TV makers green-certified in Europe
South Korea’s electronics giants Samsung Electronics and LG Electronics both announced on Monday that their TV products sold in Europe have recently received green technology certifications. Samsung’s Smart TV F8000 series was certified by Nemko, a Norwegian safety standard and regulation authority, while LG’s 55-inch curved OLED TV received certification from the U.K.-based Intertek for its eco-friendly technology and use of materials, the company officials said. Samsung and LG are now able to
TechnologyJuly 1, 2013
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New stock exchange launched to boost ‘creative economy’
Financial Services Commission chairman Shin Je-yoon said Monday that the Korea New Exchange will lay the foundation for the development of a “creative economy” in Korea where start-ups and small and medium enterprises can grow without the fear of financial failure.In a speech to celebrate the opening of the KONEX, the FSC chief said the new stock exchange will help form a new market paradigm that can lead anyone to come up with creative ideas and secure investments for business.The KONEX will fu
July 1, 2013
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Engel Machinery Korea basks in growing demand
Following is the second in a series of articles on promising foreign-invested companies in Korea. ― Ed.PYEONGTAEK, Gyeonggi Province ― In 1862, Alexander Parkes presented the first man-made plastic at the Great International Exhibition in London. Since then, this revolutionary material has become an indispensible part of life.Every single plastic product we use ― soda bottles, plastic ware, plastic bags ― has to be heated and molded into shape. But even a small plastic injection mold for smartph
BusinessJuly 1, 2013
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M&As, alternative investment key to growth momentum of firms, finance
Global economic uncertainty is growing. Japan saw the dollar pass the 100-yen mark in early May but faces a dilemma with the slowdown of the real economy and rising interest rates. China is also experiencing difficulties with provincial debt of 172 trillion won ($150.6 billion). The United States is hinting at a departure from quantitative easing even though the prospects for economic recovery remain unclear, casting gloom over the global economy. In these uncertain times, the Korean government
July 1, 2013
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Foreigners’ net selling soars in H1: KRX data
Foreigners’ net selling of Seoul shares reached the highest first-half tally this year since the 2008 financial crisis, data showed Monday, as they offloaded local shares amid policy uncertainties.Overseas investors dumped more shares than they bought at 10.2 trillion won ($8.7 billion) over the six-month period on the main bourse, according to the data compiled by the Korea Exchange.The number marks the highest level since 17.6 trillion won tallied in the January-June period of 2008, when forei
July 1, 2013
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Mitsubishi Motors temporarily halts business in Korea
Mitsubishi Motors Corp., a Japanese automaker, has temporarily halted its operations in the South Korean market after suffering from sluggish sales here, an industry source said Monday.According to the source, CXC, the local dealer of the Japanese automaker, has temporarily shut down operations of three showrooms in Seoul and its adjacent city.The closure is sparking speculation that Mitsubishi Motors may consider pulling its business from the Korean market, industry watchers said.But an officia
IndustryJuly 1, 2013
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Mizuno launches Korean unit
Sporting goods maker Mizuno Corp. kicked off its Korean operation in Seoul last week, the Tokyo-based company announced Monday.Mizuno Korea Ltd. noted that the launch Friday was reflective of Korea’s mounting achievements in sports, golf, baseball and soccer in particular. “We are willing to unfold an aggressive marketing strategy, with high expectancy of Korea’s growth in the sporting goods market,” Mizuno Korea wrote in a statement. Kim Chang-byeom, the chief executive of local sporting goods
IndustryJuly 1, 2013