The Korea Herald

Device produces 'high-tech bulimia'

A device sucks food out of the stomach after eating so only about a third of the calories are kept in the body, helping in weight loss, its U.S. inventors say.The group of inventors, including the creator of the Segway, said patients eat a meal, wait 20 minutes, then empty 30 percent of their stomach contents into the toilet via a tube -- a small, handheld device, which connects to a skin-port discretely embedded on the outside of the abdomen.Calories not digested are calories not absorbed, whic

TechnologyJan. 11, 2013

BOK cuts growth forecast to 2.8%

The Bank of Korea said Friday that it has revised its outlook on the growth of the nation’s gross domestic product for this year to 2.8 percent, down from its earlier projection of 3.2 percent.Further, the central bank predicted that the first-half economic growth would stay at 1.9 percent on a year-on-year basis.Its prediction on the 2013 economy was unveiled right after the BOK’s Monetary Policy Committee announced it would maintain the benchmark interest rate untouched at 2.75 percent annuall

Jan. 11, 2013

BOK freezes key rate for 3rd month in Jan.

South Korea's central bank froze the key interest rate for the third straight month on Friday amid signs of some improvements in the global economy.Bank of Korea (BOK) Gov. Kim Choong-soo and his six fellow policymakers held the benchmark 7-day repo rate steady at 2.75 percent for January. The central bank cut the rate in July and October to prop up the slowing economy.The decision was widely anticipated as 15 out of 21 analysts forecast the rate freeze in a survey by Yonhap Infomax, the financi

Jan. 11, 2013

Seoul shares start higher on upbeat data

South Korean stocks opened higher Friday on improved economic data from China and the eurozone, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) increased 7.39 points, or 0.37 percent, to trade at 2014.19 in the first 15 minutes of trading.Tech blue chips led the market gain, with industry leader Samsung Electronics moving up 0.72 percent and its smaller rival LG Electronics climbing 0.66 percent. Top chipmaker SK hynix edged up 0.56 percent.Logistics shares also gathered gr

Jan. 11, 2013

Ssangyong to rehire all workers on unpaid leave

Ssangyong Motor’s management and union leaders agreed Thursday to reinstate 455 workers who have been on unpaid leave since the automaker’s large-scale restructuring in 2009. The agreement came one day after a union member attempted suicide and fell into a coma, calling for a prompt resolution of the drawn-out labor dispute at the carmaker. “We have been stepping up efforts to increase car sales and production over the past three years -― the only way to solve the current situation,” Ssangyong s

IndustryJan. 10, 2013

Ssangyong to rehire all workers on unpaid leave

Samsung shines light on next-gen OLED displays

LAS VEGAS ― Samsung Electronics on Thursday unveiled its next-generation flexible displays and hinted at further innovative components for its products at its keynote session. Woo Nam-sung, president of Samsung’s System LSI business, showcased the prototype for the flexible OLED display and featured a video on bendable and rollable displays.Introducing its upcoming new lineup of future displays under the “YOUM” name, Woo showcased an OLED prototype for handsets made with extremely thin plastic i

IndustryJan. 10, 2013

Samsung shines light on next-gen OLED displays

Samsung’s Lee receives ‘timeless’ Galaxy phone

What kind of birthday gift do you get a man who has everything? How about a one-of-a-kind smartphone that costs a fortune and is almost ever-lasting? That was what the executives at Samsung were aiming for when they pitched in to get Samsung Electronics chairman Lee Kun-hee a Galaxy smartphone blanketed in lacquer and inlaid with mother-of-pearl for this 72nd birthday this Wednesday. The long-lasting materials represent timeless consistency, according to those close to Samsung. The phone was not

IndustryJan. 10, 2013

Samsung’s Lee receives ‘timeless’ Galaxy phone

[Newsmaker] Shinsegae’s Chung in hot water

Shinsegae Group vice chairman Chung Yong-jin may be the first target of scrutiny against conglomerates under President-elect Park Geun-hye’s strong pitch for “economic democratization.”The prosecution is reviewing summoning Chung for interrogation on whether he ordered Shinsegae affiliates to charge cheaper sales commissions on his sister’s bakery business.The Fair Trade Commission in October slapped Shinsegae with fines of over 4 billion won for “unfair backing” of Shinsegae SVN. The antitrust

IndustryJan. 10, 2013

[Newsmaker] Shinsegae’s Chung in hot water

Ministry to support eye-drop vaccine project

The Ministry of Health and Welfare will offer 3.4 billion won ($3.2 million) of funding to a research project developing eye-drop vaccines, officials said.The fund will be given to a team led by professor Seo Kyong-ryul of Severance Hospital in Seoul for the next five years. Seo has been developing an eye-drop vaccine to prevent typhoid fever as alternative to existing vaccines injected through needles.The state-run Korea Institute for Science and Technology and Huons, a local bio-tech firm, wil

TechnologyJan. 10, 2013

Ceragem’s hemoglobin tester gets KFDA’s approval

CERA-CHEK HB Plus, a hemoglobin tester developed by Ceragem Medisys, has obtained approval from Korea Food and Drug Agency and will be promoted in the local markets, the bio-tech firm said in a statement Thursday.Ceragem is the first company in Korea to apply new electro-chemical biosensor technology to a product. The latest technology allows customers check the level of hemoglobin in their blood within 5 seconds and with only 1 micro-liter of blood, it said.The product features a side-grip stri

TechnologyJan. 10, 2013

‘Digital health’ movement in focus at CES

LAS VEGAS (AFP) ― With an app, a game or a gadget, technology startups and major companies across all sectors are trying to tackle some of the thorniest problems in health and medicine.The Consumer Electronics Show is filled with new gadgets to monitor fitness, detect problems and find solutions to health issues ranging from obesity to diabetes to rare medical conditions.One trend is “gamification,” which uses a model from the video game industry to offer points and rewards to boost health and r

TechnologyJan. 10, 2013

Samsung hospital completes Korea’s first artificial heart pump transplant

A Seoul hospital has successfully conducted the first-ever transplant of an artificial heart pump in the country, hospital officials said Thursday.The operation took place in August when a 75-year-old patient suffering from congestive heart failure received a left ventricular assist device (VAD), according to the officials at Samsung Medical Center.A VAD is a mechanical circulatory device typically used for patients suffering from congestive heart failure. The left VAD used in the operation was

TechnologyJan. 10, 2013

Samsung hospital completes Korea’s first artificial heart pump transplant

Seoul to tighten safety control of postpartum clinics

The Ministry of Health and Welfare said on Thursday that it will strengthen the safety management of postpartum centers across the country, to improve their sanitation and prevent possible infection from spreading in the facilities.Postpartum care centers or clinics are non-medical businesses that offer full-time services to new mothers for a week or more to help them recuperate after giving birth. The number of these clinics has surged rapidly in recent years, despite prices for the services ra

TechnologyJan. 10, 2013

‘Apollo’ eye infection spreads fast

The highly contagious “Apollo” eye infection is rapidly spreading across the country as people are more exposed to viruses indoors during the winter, health authorities warned on Thursday.The number of patients with acute hemorrhagic conjunctivitis surged nearly 65 percent in the third week of December last year from the average number of patients reported during the four weeks before that, Korea Centers for Disease Control and Prevention said. The number of patients is also higher than the same

TechnologyJan. 10, 2013

A low-salt diet

A low-sodium diet is one with a limited amount of salt taken in with food. The sodium component in salt is a risk factor for high blood pressure, edema, kidney diseases and cardiac disease, as sodium is a mineral that draws in and retains moisture, affecting the balance of body fluids. In this case, reducing the intake of salt helps to control blood pressure, ease edema, and reduce stress on the heart.How to follow a low-salt diet 1. Things to be aware of when choosing food: On a preferential ba

TechnologyJan. 10, 2013

Ministries to brief Park on new policies

Economic-related ministries and agencies are preparing for their policy briefings to President-elect Park Geun-hye, starting with the Small and Medium Business Administration on Friday.Next in line will be the National Tax Service, which is expected to brief and make suggestions on taming and regulating the underground economy, or the black market.It has been conventional for the Ministry of Strategy of Finance to brief the team before the NTS.Political analysts observed that the tax agency has

Jan. 10, 2013

Korea wary of credit status of U.S., U.K., Japan

Korea could face further economic woes this year resulting from the downgrading of major countries’ credit standings, a financial research institute warned Thursday.The Korea Center for International Finance predicted in its report that the United States, the United Kingdom and Japan may see their sovereign ratings downgraded this year.It cited three major rating firms’ assessments of the countries. The firms ― Moody’s Investors Service, Standard & Poor’s and Fitch Ratings ― gave negative credit

Jan. 10, 2013

Business community united against electricity price hike

The nation’s 14 leading business associations, including the Korea Chamber of Commerce and Industry and the Korean Iron and Steel Industry Association, issued a joint statement on Thursday against a sudden increase of industrial electricity prices, and sent it to key governmental agencies and the presidential transition committee.In the statement, they said the recent hike of the industrial electricity price by the Ministry of Knowledge Economy is stringent and the measure could hamper competiti

Jan. 10, 2013

Korea stages drill for power shortage

South Korea staged a rare nationwide emergency drill for a possible power shortage Thursday as unusual cold spells are threatening to deplete its electricity reserves.The drill was held from 10 a.m. for 20 minutes with power supplies cut off to eight government complexes throughout the country temporarily. It was in part intended to test the country’s response measures in case of a power shortage, but also to encourage people to cut electricity use during peak hours.The Korea Power Exchange, the

Jan. 10, 2013

Daelim Industrial wins $295m order from Saudi Arabia

South Korean builder Daelim Industrial Co. said Thursday it has won a $295 million order to build a large petrochemical plant in Saudi Arabia.Under the deal with Saudi Butanol Co., Daelim Industrial will build the plant at the Al Jubail industrial complex on the Persian Gulf coast to produce 350,000 tons of butanol per year and 28,400 cubic meters of synthesis gas per hour, said the company.Saudi Butanol is a joint venture established by big name companies in the Middle East country, including s

Jan. 10, 2013