Most Popular
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AI textbook bubble could burst, expert warns
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Samsung tightens its belt amid crisis winds
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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North Korean trash balloons cross border day after Seoul military parade
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Prosecution closes 'Dior bag' case amid opposition uproar
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Court confirms sentence for rapper who attempted to evade national service
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N. Korea may revoke 1991 Inter-Korean Basic Agreement in parliament: Seoul
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[Kim Seong-kon] Understanding uniquely American things
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Ministry confirms irregularities in national soccer coach hiring
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Ex-presidential official’s leaked phone call rattles conservative bloc
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South Korea on alert as 31 hit by mystery illness
Health authorities stepped up monitoring Thursday on students and faculty at Konkuk University in Seoul after an unconfirmed virus infected a total of 31 people and a school building was shut down. Ten more were confirmed to be suffering from similar symptoms on the same day, after 21 had shown symptoms of high fever and coughing since last week. The government said it is closely monitoring over 850 students and lecturers who have been using the College of Animal Bioscience and Technology buil
Social AffairsOct. 29, 2015
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Creditors to pump W4.2tr into DSME
Creditors of Daewoo Shipbuilding & Marine Engineering Co. will pour 4.2 trillion won ($3.68 billion) into the ailing shipyard to help it get back on track, the main creditor bank said Thursday.The cash injection is part of a comprehensive plan crafted by the main creditor Korea Development Bank and others to rescue the troubled shipbuilder. The plan also includes restructuring measures and, in the long run, a privatization scheme. (Yonhap)Daewoo, the world’s top shipbuilder by order backlogs, ha
IndustryOct. 29, 2015
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[Photo News] IT connects Asia
IT CONNECTS ASIA -- Mobile carrier LG Uplus said Thursday it had successfully held the 5th Global IT Challenge competition for disabled youths from Monday to Thursday at Universitas Multimedia Nusantara in Indonesia. The annual competition is aimed at reducing the information gap in the Asia-Pacific region. (LG Uplus)
TechnologyOct. 29, 2015
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Ruling party links state textbook opponents to North Korea
With South Korea plunging deeper into the dispute over state-controlled history lessons, the ruling Saenuri Party on Thursday attempted to throw North Korea into the mix by suggesting that opponents of the policy may be under orders from the communist country.Rep. Suh Chung-won, a senior Saenuri lawmaker from the pro-President Park Geun-hye faction, suggested that the recent criticism issued by Pyongyang on Seoul’s plan to reinstate state-authored history textbooks for secondary education was a
Social AffairsOct. 29, 2015
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[Photo News] KT nurtures cloud business
KT NURTURES CLOUD BUSINESS -- Seo Suk-jin, a director general of the Ministry of Science, ICT and Future Planning, delivers a congratulatory speech at the sixth Cloud Frontier 2015, a conference for the cloud computing industry organized by mobile carrier KT, in Seoul on Thursday. (KT)
TechnologyOct. 29, 2015
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KFS steps up forest biomass business
The Korea Forest Service will lumber 300 hectares of trees per year in Indonesia starting from 2016 to produce wood pellets for fuel in a forest biomass project to foster Indonesia’s energy industries and cope with climate change.The forest maintenance agency outlined the plan at a two-day international symposium on forest biomass held in Semarang, Indonesia, since Wednesday, where it presented the Korean government’s policy on forestry and its investment in forest plantation in foreign countrie
IndustryOct. 29, 2015
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AmorePacific helps cancer patients overcome distress
Over 500 AmorePacific employees have offered beauty care tips to Korean female cancer patients who have suffered changes in their appearance due to chemotherapy and other treatments this year, the company said. The program is part of AmorePacific’s key corporate social responsible initiative called “Make Up Your Life,” which the country’s largest cosmetics maker has been working on since 2008. “The campaign is designed to help patients overcome the emotional distress and depression they experien
IndustryOct. 29, 2015
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Kosdaq sees surge in new listings
By Kim Yon-seMore companies are seeking to go public on the tech-focused Kosdaq market this year on the back of the Korea Exchange’s active coordination with government policies aimed at vitalizing venture start-ups.According to the Korea Exchange, the number of companies that issued initial public offerings came to 73 in the first 10 months of 2015, skyrocketing 192 percent from 25 in the same period last year.Meanwhile, the number of firms that submitted their IPO proposals for registration on
Oct. 29, 2015
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Samsung unveils W11tr buyback as profit rebounds
Samsung Electronics on Thursday unveiled plans to boost investor dividends through an 11.3 trillion won ($10 billion) share buyback after reporting its first on-year profit growth in two years. Samsung said it would cancel all shares purchased through the buyback, its biggest to date, and planned to give shareholders 30-50 percent of its free cash flow over the next three years, mostly through dividends. The plans come after investors have increasingly requested bigger payouts from the Korean t
TechnologyOct. 29, 2015
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KEPCO wins smart grid project in Dubai
The state-run Korea Electric Power Corp., the nation’s largest utility company, said Thursday it had inked a $3 million smart grid project deal in Dubai with Dubai Electricity & Water Authority.It is KEPCO’s first entry into the Middle East as a smart grid solution provider. KEPCO CEO Cho Hwan-eik (left) poses with DEWA managing director and CEO Saeed Mohammad al-Tayer after signing a contract in the United Arab Emirates on Wednesday. KEPCOUnder the deal, KEPCO will build a smart grid station w
IndustryOct. 29, 2015
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Seoul awards honorary citizenship to Berggruen
The Seoul Metropolitan Government on Thursday awarded honorary citizenship to “the homeless billionaire” Nicolas Berggruen, in appreciation of his contribution to the city’s management and reform initiatives. Named one of the world’s richest people by the Financial Times, the billionaire is renowned for his interest in philanthropy work and social reforms. He founded the Berggruen Institute, an advisory group that worked with former U.S. Secretary of State Condoleezza Rice and other global lead
Social AffairsOct. 29, 2015
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Daewoo E&C receives ISO certification
Daewoo Engineering and Construction has won the ISO 22301 standardization certification, becoming the first Korean builder to have received such recognition, company officials said.Awarded by the International Organization for Standardization, the ISO 22301 certification is an international standard for business sustainability, which is the ability for a company to resume operations after natural disasters or major conflicts.The certification shows that Daewoo E&C has world-class business sustai
IndustryOct. 29, 2015
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[Editorial] Families held hostage
A major disruption of child care services was averted Wednesday, but families of some 775,000 children enrolled at privately run child care centers were affected by staff taking leave collectively to protest government child care policies. According to the Ministry of Welfare, 1,989 privately run child care centers participated in the walkout, but all remained open. The group representing more than 14,600 private child care centers had earlier announced the impending three-day protest, urging pa
EditorialOct. 29, 2015
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[Editorial] Time for decisiveness
U.S. guided-missile destroyer USS Lassen sailed within 12 nautical miles of at least one of the artificial islands in the South China Sea claimed by China on Tuesday, bringing to stark reality the growing tensions between the U.S. and China. For some two hours, the USS Lassen sailed close to the 12 nautical-mile area claimed by China as its territory, at one point sailing within the 12 nautical miles of Subi Reefs, while two Chinese vessels shadowed the guided-missile destroyer. The episode went
EditorialOct. 29, 2015
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Seoul announces new city slogan ‘I. SEOUL. U’
The Seoul Metropolitan Government selected a new slogan on Wednesday, seeking to revamp its brand image and entice more tourists. In a ceremony held at the city’s public square Seoul Plaza, the city announced that “I. SEOUL. U” won the logo contest, beating two other candidates -- “Seoulmate” and “SEOULing” -- to replace “Hi Seoul,” the current slogan that had been used for 13 years. Some 58 percent of voters supported “I. SEOUL. U” in a poll that consisted of online votes by citizens and an o
Social AffairsOct. 29, 2015
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LGE sees Q3 earnings plunge
Facing tough competition in the world’s mobile and electronics markets, tech giant LG Electronics saw its profit drop by a whopping 37 percent in the July-September period as losses widened in its flagship mobile business unit.The electronics firm said in its regulatory filings that it earned 14.3 trillion won ($12.5 billion), down 5 percent year on year, in the third quarter. The company reported 294 billion won in profit, down 37 percent on-year. An employee enters LG Electronics`s head office
TechnologyOct. 29, 2015
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Ministry seeks to cut number of generals
The Defense Ministry is seeking to curtail the number of active-duty general-level officers to around 400 from the current 440, amid criticism it has failed to fulfill a 2011 reduction plan due to resistance from the top brass.President Park Geun-hye walks with Defense Minister Han Min-koo (second from right), Joint Chiefs of Staff chairman Lee Sun-jin (center) and other general-level officers in their new post assignment ceremony at Cheong Wa Dae on Thursday (Yonhap).The ministry said it was no
DefenseOct. 29, 2015
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SK Telecom makes 5G push
South Korea’s leading mobile carrier SK Telecom on Thursday opened an innovation center named the 5G Playground for developing and testing advanced network technologies with its partners.The 5G Playground, located in the wireless firm’s office in Bundang, Gyeonggi Province, features places where visitors can have a firsthand experience of virtual reality technology and test bed labs to conduct joint R&D projects with global IT firms including Samsung Electronics, Ericsson, Nokia, Intel and Rohde
TechnologyOct. 29, 2015
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Booyoung chairman releases book on colonial era
Lee Joong-keun, chairman of Booyoung Group, a construction giant, released “Before Dawn, 36 Years, 12,768 days,” a chronological document of the Japanese colonialization era. Lee held a publication event Thursday at the Sejong Center for the Performing Arts in Seoul.The book was published through his publication company Woojung Books. It is his third history book, published after “The Korean War, 1,129 Days” and “Independence, 1,775 Days.”The new book documents facts and events that took place f
IndustryOct. 29, 2015