Most Popular
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NewJeans to terminate contract with Ador
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Korean Air gets European nod to become Northeast Asia’s largest airline
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NewJeans terminates contract with Ador, embarks on new journey
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Seoul snowfall now third heaviest on record
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Chaos unfolds as rare November snowstorm grips Korea for 2nd day
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‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say
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BOK makes surprise 2nd rate cut to boost growth
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Ador claims exclusive contracts with NewJeans still valid
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Japan will pay for failing to honor promises, minister says
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‘Green aurora’ is Seoul's color of 2025
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Controversial video game ‘GTA V’ to be released on Sept. 17
New follow-up of action video game series “Grand Theft Auto,” which has provoked controversies over its violent and suggestive descriptions, will be globally released in September. U.S.-based game developer Rockstar Games announced in an official statement on Friday that the release date of “GTA V” has been fixed to Sept. 17. The title was previously scheduled to be launched early this year, but the developer later said that the game needs more time to complete. “The company apologi
TechnologyFeb. 1, 2013
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LG rolls out new high-quality package earphone
LG Electronics released new high-performance earphones dubbed “Quad Beat 2” which is expected to be included in the company’s next flagship smartphone “Optimus G Pro” package.“Quad Beat 2” is a follow-up model to “Quad Beat,” which has enjoyed popularity with Korean smartphone users as its performance surpassed expectations for standard headphones provided as a part of cellphone package.The mobile phone manufacturer announced through its official blog on Friday that it successfully developed “Qu
TechnologyFeb. 1, 2013
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Samsung’s Lee wins inheritance court battle
The Seoul District Central Court on Friday sided with Samsung Electronics chairman Lee Kun-hee by dismissing the claims by his elder brother Lee Maeng-hee for around 4.8 trillion won ($4.4 billion) of the Samsung fortune.Lee was joined by a few other members of the Samsung family who felt they were shortchanged in their rightful inheritance from the late Lee Byung-chull, their father and founder of Samsung. In the ruling for the first trial on the case, the judge said that “the time has expired
IndustryFeb. 1, 2013
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Poor sleep in old age prevents memories
In older adults, memories may get stuck in part of the brain due to the poor quality of sleep and are then overwritten by new memories, U.S. researchers say. Senior author sleep researcher Matthew Walker of the University of California, Berkeley, said the slow brain waves generated during the deep restorative sleep play a key role in transporting memories from the part of the brain which provides short-term storage for memories to the part of the brain that stores long-term memories. However, in
TechnologyFeb. 1, 2013
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SK Innovation Q4 net up 50.8 pct on strong won
SK Innovation Co., the holding company of South Korea's biggest refiner, said Friday that its net income rose 50.8 percent in the fourth quarter from a year earlier thanks to a strong won. Net profit came to 228 billion won (US$209.5 million) in the October-December period, compared with 151 billion won a year ago, SK Innovation said in a regulatory filing. Sales rose 1.4 percent on-year to 17.15 trillion won, but operating profit fell 44.1 percent to 202 billion won, the company said."The South
IndustryFeb. 1, 2013
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Seoul shares down 0.68 pct in late-morning trade
South Korean stocks traded 0.68 percent lower late Friday morning as investors took to the sidelines ahead of a U.S. jobs data release this weekend, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.25 points to 1,948.69 as of 11:20 a.m.Large caps were mixed. Market bellwether Samsung Electronics lost 1.31 percent but auto-parts maker Hyundai Mobis gained 1.4 percent.Doosan Heavy Industries & Construction sank 6.98 percent on rumors about a rights issue.The local curr
Feb. 1, 2013
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Seoul shares turn lower after strong open
South Korean stocks shifted to negative territory after opening higher as investors took to the sidelines ahead of the expected release of U.S. jobs data this weekend, analysts said Friday.The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.62 points, or 0.18 percent, to 1,958.32 in the first 15 minutes of trading.Market bellwether Samsung Electronics slipped 0.14 percent and top oil refiner SK Innovation fell 1.46 percent.In contrast, autos outperformed the KOSPI, with auto-parts mak
Feb. 1, 2013
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Apple loses on Samsung’s Galaxy Nexus
Apple Inc. failed to persuade a U.S. appeals court to review its decision that allows Samsung Electronics Co. to continue selling the Galaxy Nexus smartphone while a patent-infringement case is pending. An October decision, which said Apple needed to show that the patented search feature was a key reason consumers bought the Samsung phone, will stand, the U.S. Court of Appeals for the Federal Circuit said in an order posted yesterday on its electronic docket. Apple sought to have the earlier dec
IndustryFeb. 1, 2013
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KT’s operating profit tumbles in Q4
The fourth-quarter operating profit of KT, the country’s second-largest mobile carrier, tumbled as much as 76 percent compared to the same period in the previous year due to increased facility spending and slower sales in fixed-line services.The company said that it recorded 51 billion won ($46.5 million) in operating profit and 93.6 billion won in net profit in the October-December 2012 period -- down nearly 55 percent from the final quarter of 2011. Quarterly sales, however, edged up by 3.6 pe
BusinessFeb. 1, 2013
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S. Korea logs trade surplus on sound exports in Jan.
South Korea's trade balance made a positive turnaround from a year earlier last month as the growth of its exports outpaced that of imports, the government said Friday.The country's exports surged 11.8 percent from the same period last year to US$46.08 billion in January, according to the Ministry of Knowledge Economy. Imports grew 3.9 percent on-year to $45.21 billion, leaving a $874 million trade surplus.Last month's trade surplus compares with a $2.3 billion deficit posted in the same month l
BusinessFeb. 1, 2013
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S. Korea's consumer prices grow 1.5 pct on-year in Jan.
South Korea's consumer prices grew at a faster pace in January from a month earlier, but the gain remained in the 1-percentage range for the third straight month, a government report showed Friday.The country's consumer prices index rose 1.5 percent in January from a year earlier, compared with a 1.4 percent on-year gain in December, according to the report by Statistics Korea. From a month earlier, it grew 0.6 percent.The on-year figure marked the third straight month that the price growth has
Feb. 1, 2013
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Satellite in orbit, working normally
Korea’s newest scientific satellite made initial communication with a ground station in Daejeon early Thursday, finally confirming the success of the nation’s first successful launch of a space rocket from its own soil. The Korea Space Launch Vehicle-1 rocket, jointly built by Korean and Russian scientists, launched from the Naro Space Center in Goheung, South Jeolla Province, at 4 p.m. Wednesday. The rocket put a 100-kilogram Science and Technology Satellite-2C into orbit about nine minutes aft
TechnologyJan. 31, 2013
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Some favorable economic indices, but government officials cautious
Officials in the Finance Ministry and Statistics Korea have raised the possibility that the sagging economy will gradually vitalize in the coming months, citing favorable indices in the industrial sector.They took a prudent stance, however, on publicizing a positive outlook. They stressed that “as uncertainties at home and abroad still remain,” risk factors must be closely monitored to attain national economic recovery.Concerning the December data for industrial output from the state-run Statist
Jan. 31, 2013
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Conglomerates barred from entering restaurant biz
The nation’s conglomerates are set to be prohibited from starting new restaurant businesses or merging with existing ones under a state-funded panel’s plan to add eateries to the list of trades suitable for only small- and medium-sized firms.Franchises such as Nolbu and Saemaeul Restaurant, which have up to 700 stores nationwide, will be banned from opening too close to each other as they are believed to be threatening mom-and-pop eateries.About 30 chaebol subsidiaries including Lotteria, CJ Foo
IndustryJan. 31, 2013
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Still too few women execs
Corporate Korea is still fostering few women executives, according to figures from CEO Score, a website devoted to governance issues at the nation’s top conglomerates. Women accounted for only 1.5 percent of the of executives at the top 10 industrial groups, reaching 5,201. This means there were fewer than two female executives for every 100. The survey was conducted on 93 of the listed affiliates of the groups, and also 94 of their non-listed sister companies. Samsung led the pack with 39 femal
IndustryJan. 31, 2013
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[Newsmaker] Naro launch paves way for economic upgrade
The successful launch on Wednesday of the Korea Space Launch Vehicle-1, or the Naro, has brought South Korea, as Education, Science and Technology Minister Lee Joo-ho put it, a “step forward” in advancing its space technology.This was Korea’s latest and third launch of a rocket carrying a science satellite into space.Experts, however, said the mission to see large economic returns in space development was only half-complete, given that the Naro was a “joint-venture” rocket with key engine techno
Jan. 31, 2013
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Worried Sick
There is an expression “worried sick.” Although it is just a saying for most people, for others it is quite real. Those who worry about having a major illness regardless of being healthy, those who worry about dying any minute from sudden anxiety, those who don’t appear in front of the public in case they make mistakes, and those who continuously worry about everything that happens in their daily lives, can all suffer from anxiety along with somatization that cannot be explained by physical fact
TechnologyJan. 31, 2013
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More than 40,000 TB patients found last year
Korea had more than 40,000 patients with tuberculosis last year, the highest number counted by the state-run disease control agency since 2001, officials said.According to the Korea Centers for Disease Control and Prevention, 40,126 tuberculosis patients were newly discovered in 2012, which accounted for 43 percent of patients with infectious diseases in the same year. Patients suffering from varicella were the second-largest group with 21,770, followed by patients with trombiculiasis and epidem
TechnologyJan. 31, 2013
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Free monthly lectures to look at mental health
A series of lectures to inform the public about mental health issues will take place in Icheon, Gyeonggi Province.The lectures, which are free and open to all, will be given by Park Han-son, a neuropsychiatrist at St. Andrew’s Neuropsychiatric Hospital. They will take place in the hospital’s main auditorium at 2 p.m. on the third or fourth Sunday of each month.“Mental health problems are one of the main public health issues in Korea,” said Park. “However, the stigma about mental illness has been
TechnologyJan. 31, 2013
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Court to rule on Samsung family feud
The ongoing legal battle among Samsung family members will see a new development Friday as the Seoul Central District Court is scheduled to rule on the first trial concerning the claims over the late Samsung founder’s inheritance that has grown into a multi-billion-dollar conglomerate.The main bone of contention is the claim by Lee Maeng-hee, elder brother to Samsung Electronics chairman Lee Kun-hee, to more than 4 trillion won of Lee and Samsung’s assets. The elder Lee claims that he is worth t
IndustryJan. 31, 2013
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