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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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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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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Seoul should brace for end of global credit easing: BOK
South Korea’s top central banker said Friday that the country should brace for the possibility that major central banks may end their march toward credit easing.“It does not seem that the financial crisis will further worsen. There is a chance that major central banks may unwind their drives for quantitative easing,” Bank of Korea (BOK) Gov. Kim Choong-soo said in a monthly meeting with local bank heads.Major central banks including the U.S. and Japan have launched a massive bond-buying program
IndustryJan. 18, 2013
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Nongshim shows interest in Woongjin Foods: sources
Nongshim Co., South Korea’s top instant noodle maker, has expressed keen interest in buying Woongjin Foods Co., a beverage unit of cash-strapped Woongjin Group, industry sources said Friday.The move comes as Woongjin Holdings Co. and its creditors have reached an agreement on sales of the food unit to ramp upWoongjin’s debt rescheduling program. The mid-sized group has been placed under court receivership last year due to financial difficulties.Nongshim has vowed to strengthen beverage business
IndustryJan. 18, 2013
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IBM outlines strategies for mutual growth
IBM Korea on Friday announced strategies to more efficiently work with its business partners in a ceremony attended by more than 500 company executives, including the new IBM president Shirley Yu-Tsui. IBM is currently working together with more than 1,000 business partners and vendors, while on a global level, its partners now number more than 130,000. IBM’s main priorities for working with partners involve jointly developing new markets and offering key solutions based on advanced technology,
IndustryJan. 18, 2013
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SK affiliates undergo major reshuffling
SK Group affiliates on Friday announced a reshuffle that affected six companies including SK Innovation, the group’s holding company. Among the affiliates, SK Innovation promoted 29 executives including its president and CEO Koo Jay-young, who was appointed vice chairman and CEO.The company also elected its first-ever female executive in the vice president level: Kang Sun-hee, who was named secretary-general of the board of directors and sustainable growth director. Five other affiliates includi
IndustryJan. 18, 2013
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Korean IT sector clicks onto Africa
Africa, one of the least tapped markets in the world, has become the target of local IT companies that are eagerly eyeing the continent for business opportunities. In particular, electronics firms such as Samsung and LG Electronics, along with telecom KT, are actively moving to grab a larger share in Africa where the customer base for electronic products is growing at a fast pace. Until now, electronics makers have prioritized mostly the U.S. and European markets, but market saturation, not to m
IndustryJan. 18, 2013
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GSK chief tapped to head pharmaceutical association
Kim Jin-ho, the chief executive of GlaxoSmithKline Korea, was elected this week as chairman of the Korea Research-based Pharmaceutical Industry Association, one of the largest organizations for pharmaceutical companies here with over 30 members. Kim was the second Korean following Lee Dong-soo, CEO of Pfizer Korea, to take up the post, according to industry sources. Kim will start his duties as the new chairman beginning Feb. 1, the association said. “The status of Korean companies in the global
IndustryJan. 18, 2013
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Sony selling Madison Avenue HQ building for $1.1 bn
Sony shares rocketed 12.20 percent Friday after the embattled Japanese consumer electronics giant said it was selling its US headquarters in Manhattan for $1.1 billion as part of a huge restructuring.The Tokyo-listed shares finished at 1,149 yen, boosted by a weak yen and after the announcement that New York-based commercial property firm Chetrit Group was leading a consortium that agreed to buy the Madison Avenue skyscraper.The sale, expected to close in March, comes as the firm undergoes a cor
IndustryJan. 18, 2013
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Seoul shares gain 0.69 pct on China's growth data
South Korean stocks closed 0.69 percent higher Friday as the fourth-quarter growth in China raised anticipations that the slowdown in Asia's largest economy has bottomed out, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 13.59 points to finish at 1,987.86. Trading volume was heavy at 575.9 million shares worth 3.83 trillion won (US$3.63 billion) with gainers outpacing decliners 544 to 242. "It can be interpreted a
Jan. 18, 2013
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Seniors become main users of e-readers in U.K.
One-third of middle-aged British people own a tablet computer or e-book reader, a higher rate than for younger people, according to research.According to research conducted by Mintel, a U.K.-based marketing research company, 29 percent of those over 55 in the U.K. own digital book readers or tablet PCs including Apple’s iPad and Amazon’s Kindle series, while only 22 percent of youngsters said that they used the devices.Among those aged 55 and above, women emerged as the biggest fans of e-book re
TechnologyJan. 18, 2013
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Mars image suggests ancient water flow
A European spacecraft has captured a striking image of a river-like structure on Mars believe formed when running water flowed in the distant martian past.A high-resolution stereo camera on the European Space Agency's Mars Express orbiter photographed the 1,000-mile steep-sided channel running through the Promethei Terra Highlands, an ESA release said Thursday.Dubbed the Reull Vallis, it is believed to have been created in Mar's Hesperian period that ended between 3.5 and 1.89 billion years ago,
TechnologyJan. 18, 2013
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Facebook rolls out free call feature for US iPhone users
Social media company Facebook added a new calling feature for iPhone users in the United States, BBC reported Friday. iPhone users in the U.S. are now able to call free-of-charge via Facebook Messenger app with Wi-Fi or a cellular-data connection. In the Facebook Messenger app, users can tap the ‘i’ icon in the upper right hand corner to make free calls. Users, however, can only make free calls to friends that have installed Messenger on their iPhones. Calls to landline numbers or friends who lo
TechnologyJan. 18, 2013
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Seoul shares up 0.37 pct in late-morning trade
South Korean stocks traded 0.37 percent higher late Friday morning, led by gains in share of financial firms and insurance companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 7.28 points to 1,981.55 as of 11:20 a.m.No. 1 life insurer Samsung Life Insurance surged nearly 5 percent, with major financial firm Woori Finance Holdings jumping more than 4 percent. In contrast, tech and auto blue-chips lost ground. Top-cap Samsung Electronics edged down 0.3 percent an
Jan. 18, 2013
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Apple market share dips as iPhone 5 glow fades
Apple Inc. saw its global handset market share fall last month on weakening demand for the iPhone 5, its first long-term evolution phone, a report showed Friday.The Silicon Valley firm's market share reached 16 percent in December, down 3 percentage points from the previous month, according to the report by Hong Kong-based researcher Counterpoint Technology Market Research.The decline, which comes three months after the iPhone 5 launch, was partly attributed to North American and European mobile
TechnologyJan. 18, 2013
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Seoul shares open higher on improved U.S. data
South Korean stocks got off a strong start Friday, tracking the gains seen in U.S. peers overnight on better economic data, analyst said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 9.21 points or 0.47 percent to trade at 1,983.48 in the first 15 minutes of trading. Most shares trended in positive terrain, with utilities and brokerage houses leading the gain. State-run electricity provider Korea Electric Power Corp. jumped about 2.5 percent with No. 2 player Woori Investment
Jan. 18, 2013
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NASA, Europeans uniting to send spaceship to moon
CAPE CANAVERAL, Florida (AP) ― NASA is teaming up with the European Space Agency to get astronauts beyond Earth’s orbit.Europe will provide the propulsion and power compartment for NASA’s new Orion crew capsule, officials said Wednesday. This so-called service module will be based on Europe’s supply ship used for the International Space Station.Orion’s first trip is an unmanned mission in 2017. Any extra European parts will be incorporated in the first manned mission of Orion in 2021.NASA’s huma
TechnologyJan. 17, 2013
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Curiosity readying to drill on Mars
LOS ANGELES (AP) ― Scientists have zeroed in on a Martian target for the Curiosity rover to drill into a rock outcrop as flat as a pool table that’s expected to yield fresh insight into the red planet’s history.Running a tad behind schedule, Curiosity was due to arrive at the site in the next several days. After an inspection of the surroundings, the car-size rover will test its drill for the first time “probably in the next two weeks,” project manager Richard Cook of the NASA Jet Propulsion Lab
TechnologyJan. 17, 2013
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Politics holds up science belt project
President-elect Park Geun-hye is looking to enhance the country’s science and technology competitiveness with the establishment of a powerful new ministry that will oversee research and development policies and industrialization of innovations. But it seems Park is already facing a major obstacle with the delay of a project to build a mega science and business complex that promised to house world-class basic science research organizations and related business facilities.The government is plannin
TechnologyJan. 17, 2013
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Norovirus spreading fast: KCDC
The number of cases of food poisoning caused by the norovirus sharply surged last year, health authorities said on Thursday.The Korea Centers for Disease Control and Prevention said a total of 49 cases of norovirus infection were reported last year, an 88.5 percent increase from 26 cases in 2011.The virus spreads quickly, particularly during the winter time. People must wash their hands as frequently as possible until March this year to prevent further infection, the agency said. Noroviruses are
TechnologyJan. 17, 2013
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Cancer center for women holds symposium
Ewha Womans University Hospital Cancer Center for Women will hold a symposium on the latest medical progress on cancer treatment on Jan. 25 at its hospital in Mok-dong, western Seoul.Speakers for the event are renowned medical doctors and researchers on women’s cancers, including Seoul National University Hospital professor Park Ung-yang, Korea University Hospital professor Kim Yeol-hong and Dr. Yoo Byeong-cheol of the National Cancer Center.They will talk about the challenge of developing cance
TechnologyJan. 17, 2013
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Australian study points to potential cure for AIDS
SYDNEY (AFP) ― An Australian scientist said Wednesday he had discovered how to turn the HIV virus against itself to stop it progressing to AIDS, describing it as a major breakthrough in finding a cure for the disease.David Harrich, from the Queensland Institute of Medical Research, said he had successfully modified a protein in HIV that the virus needed to replicate and instead made it “potently” inhibit virus growth.“I have never seen anything like it. The modified protein works every time,” sa
TechnologyJan. 17, 2013
