Most Popular
-
1
Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
-
2
Host of Miss Korea apologizes for 'inappropriate question' about deepfake
-
3
Korea to face another massive shortfall in tax revenue
-
4
Who's lying? Hybe vs. Min conflict continues to intensify
-
5
[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
-
6
[Photo news] Faker Mercedes
-
7
SK hynix outpaces Samsung, Micron with more powerful AI chips
-
8
Power of nostalgia brings K-pop legends back together
-
9
Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
-
10
North Korea unveiling uranium enrichment site a US election-conscious move: NIS
-
Philips enhances CT System at Seoul National University Hospital
Philips Korea, the local unit of the health technology firm based in the Netherlands, said Wednesday it had installed its first spectral detector-based computed tomography at Seoul National University Hospital. According to the firm, the installed CT system “IQon Spectral CT” is the first commercial installation in Asia. The company said it would strengthen diagnostic and treatment capabilities of the hospital. IQon Spectral CT System installed at Seoul National University Hospital (Philips Kor
IndustryMay 19, 2016
-
Korea to set aside W2tr for new energy business
State-run Korea Electric Power Corp. will set aside 2 trillion won ($1.6 billion) to create a fund for backing new energy businesses, the government announced Thursday. “Korea needs to make bold investments and purse technology development in new energy businesses in a bid to create the nation’s new growth engine and respond to climate change,” said Kim Sung-yeol, chief of electricity promotion division at the Ministry of Trade, Industry and Energy. (Yonhap)The active role of KEPCO -- which is r
IndustryMay 19, 2016
-
China criticizes U.S. steel anti-dumping measures
BEIJING (AP) -- China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid mounting complaints Beijing is exporting at improperly low prices to clear a backlog at home.The Commerce Ministry complained Wednesday that the duties of 522 percent announced on cold-rolled steel used in automobiles and other manufacturing were excessive and called on Washington to rescind them.Beijing faces mounting criticism from the United States and Europe over a flood of low-cost steel that West
World BusinessMay 19, 2016
-
Fed: June hike likely if economy picks up
WASHINGTON (AP) -- Catching many investors off guard, the Federal Reserve made clear Wednesday that an interest rate hike in June is likely if the economy keeps improving.The minutes of their most recent meeting in late April showed that Fed officials widely felt it would be time to raise rates at their June 14-15 meeting as long as hiring and economic growth strengthened and inflation showed signs of accelerating toward the Fed's 2 percent target rate.The Fed had voted 9-1 in April to keep rate
World BusinessMay 19, 2016
-
Golden Blue presents Korea’s first white whisky
Whisky manufacturer Golden Blue has released Korea‘s first blended white whisky.Called “Phantom the White,” the white whisky was developed by Golden Blue over 3 1/2 years. It was blended by English blender Norman Mathison using a 100 percent Scottish whisky base.Models pose with Golden Blue‘s “Phantom the White.” (Golden Blue)The blended whisky is put through a compound filtering process to remove the brown color and leave a clear spirit, according to the company.Golden Blue said that unlike oth
IndustryMay 19, 2016
-
LG Household claims safety of its humidifier disinfectant
LG Household & Health Care, South Korea’s leading maker of household goods, said Wednesday that its humidifier disinfectant sold back in the late 1990s did contain potentially harmful chemicals, but that they were used in small amounts that would not cause damage. Earlier in the day, local news agency Newsis had reported that LG’s “119 Humidifier Disinfectant” product sold from 1997 to 2003 had contained benzalkonium chloride (BKC) a toxic substance that can be fatal when ingested.According to t
IndustryMay 19, 2016
-
Make-or-break negotiations continue at shipper HMM
Hyundai Merchant Marine is putting all its efforts in last-ditch negotiations with foreign shipowners to cut leasing fees as the heavily indebted shipper is desperate to avoid court receivership.Korea’s second-largest shipping operator is facing a tentative deadline Friday set by the government, which has threatened to put the firm under court receivership unless it successfully completes negotiations with shipowners to cut charter rates by 28-30 percent.HMM’s conference call with bulk charterer
May 19, 2016
-
Samsung Pay, Alipay join hands in China
Samsung Electronics confirmed Thursday it has teamed up with China’s e-commerce giant Alibaba to further tap into the soaring Chinese mobile payments market. Under the strategic partnership that is expected to be announced Friday, Samsung Pay, the Korean tech giant’s mobile payments system, will include Alibaba’s Alipay within its platform as one of its payment methods. After fingerprint verification, Samsung Pay users are required to choose a payment method among credit cards and membership poi
TechnologyMay 19, 2016
-
[Market Now] Teachers pension to invest in Samsung Fire & Marine’s building
The Korea Teachers Pension, the nation’s No. 2 retirement pension, said it will invest 45.2 billion won ($38 million) in the building of Samsung Fire & Marine in southern Seoul.The investment will be made through KB Real Estate Trust’s real estate investment vehicle REITs, the pension said in a statement. National Pension Service (Yonhap)The building of the nation’s top nonlife insurer is on Teheranno, a street in the affluent Gangnam district.The pension said it expects to reap a 7.5 percent an
May 19, 2016
-
19th Nation Assembly wraps up last meeting
Korea's 19th National Assembly held their last regular session on Thursday, passing some last-minute bills and paving the way for the newly-elected lawmakers whose term begins at end-May.Among the bills passed on Thursday was the so-called Shin Hae-chul law, named after a popular South Korean singer who suffered a sudden heart attack in 2014 and fell into a coma shortly after being treated for an infection of the peritoneum and intestines at a Seoul hospital.The law centers on protecting patient
PoliticsMay 19, 2016
-
Korean national judo team targets at least two golds in Rio
Korean national judo team aims to collect at least two gold medals at the 2016 Rio de Janeiro Summer Games, sources at the Korea Judo Association (KJA) said Thursday.Korea, the world No. 3 in the Olympic judo medal rankings with 11 gold, 14 silver and 15 bronze medals, will have 12 judokas -- seven men and five women --- in Brazil. This is the first time since the 2004 Athens Olympics that the country failed to send judokas in all weight divisions. In Rio, there will be no South Koreans competin
Olympic GamesMay 19, 2016
-
S. Korea to hold expo on unification next week
South Korea said Thursday it will hold an exhibition on unification next week, hoping that the event can help raise awareness about inter-Korean unification amid frayed Seoul-Pyongyang ties.The exhibition on unification will run from next Friday to next Sunday at Gwanghwamun Plaza and a park near the government complex and will involve 141 organizations including local governments, civic groups and media companies, according to the Ministry of Unification.The event will be the second of its kind
North KoreaMay 19, 2016
-
Foreign finance director of Oxy Korea summoned over toxic sterilizers
The finance director of Oxy Korea was summoned Thursday as the first among a number of foreign executives who will be questioned in relation to the production and sales of the toxic humidifier sterilizers that resulted in numerous deaths and illnesses here.Ulrich Hosterbach appeared before the Seoul Central District Prosecutors' Office in southern Seoul to give testimony in the snowballing case that involves scores of deaths since 2011, including some pregnant women.Hosterbach has worked as the
Social AffairsMay 19, 2016
-
Intellectual property account deficit narrows to 4-year low in 2015
Korea's deficit in the intellectual properties account shrank to a four-year low in 2015 as exports grew at a faster clip than imports, central bank data showed Thursday.The deficit in the intellectual properties account came to $4 billion last year, down from a $4.53 billion deficit in the previous month, according to preliminary data from the Bank of Korea (BOK). Bank of Korea (Yonhap)The 2015 tally marks the lowest level since a $3.38 billion deficit posted in 2011. It also marked a third con
TechnologyMay 19, 2016
-
Court receivership inevitable for Hyundai Merchant without charter rate cut: finance minister
Korea's chief economic policymaker Thursday reaffirmed his stance that the only option left for troubled Hyundai Merchant Marine will be court receivership unless the shipper strikes a deal with the owners of its chartered ships to cut lease rates.Last month, the creditors gave the nod to the financially troubled Hyundai Merchant's self-rescue plans, including asset sales, on the condition that it should complete renegotiations with the owners of chartered ships to lower their charter rates by 2
IndustryMay 19, 2016
-
Korea, Mongolia agree to seek increase in flights, bolster development cooperation
The leaders of Korea and Mongolia agreed Thursday to seek an increase in flights between the two nations and expand cooperation in the latter's infrastructure construction and overall economic development.President Park Geun-hye and her Mongolian counterpart, Tsakhiagiin Elbegdorj, signed three memorandums of understanding (MOUs) on strengthening bilateral economic cooperation and another on cooperation in the sports sector. President Park Geun-hye (right) shakes hands with her Mongolian counter
May 19, 2016
-
[Photo News] LG Hope Village in Ethiopia
Farmers harvest garlic in an Ethiopian town Tuesday. LG Electronics has designated some towns in the African country as its “LG Hope Village” since 2012 to teach farming techniques to local people and support their livelihoods. (LG Electronics)
TechnologyMay 19, 2016
-
Korea, Mongolia agree to seek increase in flights, bolster development cooperation
The leaders of Korea and Mongolia agreed Thursday to seek an increase in flights between the two nations and expand cooperation in the latter's infrastructure construction and overall economic development.President Park Geun-hye and her Mongolian counterpart, Tsakhiagiin Elbegdorj, signed three memorandums of understanding (MOUs) on strengthening bilateral economic cooperation and another on cooperation in the sports sector.One of the MOUs concerns joint efforts to "actively" discuss ways to inc
Foreign AffairsMay 19, 2016
-
N. Korea waging nonsmoking campaign as Kim Jong-un not seen smoking in 2 months
North Korea has actively launched a nonsmoking campaign and even set up research stations across the country to get people to stop smoking, according to North Korean media reports.In a report picked up in Seoul, the North's official Korean Central News Agency (KCNA) said non-smoking research stations have been established in provincial capitals and major cities and are in close touch with the Pyongyang-based Non-smoking Research Center.Their action programs include counseling for smokers and off
North KoreaMay 19, 2016
-
S. Korea, U.S. seek to enhance cybersecurity cooperation
South Korean and U.S. officials gathered here Thursday to discuss cooperation in the cybersecurity sector as both countries are experiencing an increase in online trade.The seminar brought together about 100 government, business and academic participants from the two sides to discuss trends in cybersecurity in critical infrastructure sectors, such as finance and energy telecom.Under the New Frontier slogan, cybersecurity has emerged as a key area of cooperation between the allies, along with spa
TechnologyMay 19, 2016