Most Popular
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Seoul blanketed by heaviest Nov. snow, with more expected
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NewJeans to terminate contract with Ador
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NewJeans terminates contract with Ador, embarks on new journey
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Korean Air gets European nod to become Northeast Asia’s largest airline
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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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BOK makes surprise 2nd rate cut to boost growth
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‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say
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Korea's birthrate shows signs of recovery
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Nongshim ordered to recall imported noodles in China
The Chinese government ordered a recall of six types of South Korean instant noodles Friday that were found to contain benzopyrene, a substance classified as a carcinogen.China’s General Administration of Quality Supervision, Inspection and Quarantine announced on its website that it had ordered importers to immediately recall the noodles. It also directed its affiliated agencies to strengthen inspections to keep the products out. “The KFDA confirmed the detection of benzopyrene in the six (type
IndustryOct. 28, 2012
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LG unveils 84-inch ultra-HD TV in the U.S.
LG Electronics has unveiled the world’s largest ultra-high-definition television in the U.S., aiming to penetrate the global HD television market. The Korean electronics giant held a launching ceremony for the 84-inch ultra HD television at electronics retailer Video & Audio Center in Los Angeles on Friday. “We took into account that California is the hub of entertainment and innovation,” the company said. LG’s new ultra HD product is equipped with a jumbo screen measuring 3.84 by 2.16 meters.
TechnologyOct. 28, 2012
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Korea fears quarterly contraction in Q4
With the Korean economy continuing to grow less than 1 percent on-quarter since the second quarter of last year, there are increasing predictions of a quarterly contraction of gross domestic product.International trade volumes have diminished as the world’s major economies slowed, dealing a blow to Korea’s exports and industrial production, the pivotal driving forces of its economy.Several institutions at home and abroad say Korea could post negative on-quarter growth in the last three months of
Oct. 28, 2012
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Toyota extends global lead over GM on quarterly gain
Toyota Motor Corp.’s worldwide sales grew 18 percent last quarter on U.S. demand for Camry sedans and Prius hybrids and helped Asia’s largest automaker expand its lead over General Motors Co., the global volume leader in 2011. Toyota delivered 2.43 million cars and trucks in the quarter that ended Sept. 30, including subsidiaries Hino Motors Ltd. and Daihatsu Motor Co., up from 2.06 million a year ago, according to figures provided by Yurika Motoyoshi, a company spokeswoman, yesterday. Its sales
MobilityOct. 28, 2012
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U.S. auto industry buys into fuel economy rules
The U.S. government has set tough fuel economy standards for cars and trucks, and Detroit’s automakers couldn’t be happier.What mad world is this? The famously balky industry that once swore people could never afford cars with crazy technology like air bags has taken a leap of faith in its ability to invent and innovate.“They’re aggressive standards, but the industry wouldn’t have bought in if they weren’t achievable,” said Chris Theodore, engineering consultant and former Ford and Chrysler prod
IndustryOct. 28, 2012
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BMW 1 Series unrivaled in premium compact class
BMW’s 1 Series, launched back in 2004, has been leading the global market for premium compact vehicles. The first generation, ranging from hatchback styles to coupes and convertibles, has sold more than 1.5 million units globally. BMW Korea, the Korean unit of the German luxury carmaker, recently announced the arrival of the second generation 1 Series here. According to the carmaker, the new offering from BMW combines improved power and efficiency and also boasts an unrivalled amount of space, o
MobilityOct. 28, 2012
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S. Korea needs 10 more yrs to achieve $30,000 income
South Korea might need 10 more years to see its per-capita income exceed US$30,000 as an elongated low growth trend and other economic structural problems are dimming the overall outlooks, a private think tank said Sunday.South Korea's per-capita income seems to be "trapped" in the $20,000 range five years after it surpassed the mark for the first time in 2007, as the growth rate has remained stagnant over the past years, according to a report by the Hyundai Research Institute.From 2007 to 2011,
Oct. 28, 2012
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Moderate to binge drinking can hurt brain
Moderate to binge drinking -- drinking less during the week and more on weekends -- reduces the structural integrity of the adult brain, U.S. researchers say.Lead author Megan Anderson, a graduate student working with Tracey J. Shors, a professor in the Department of Psychology at Rutgers University, The State University of New Jersey, and postdoctoral fellow Miriam Nokia of the University of Jyvaskyla in Finland, said a blood alcohol level of 0.08 percent -- the U.S. legal driving limit -- aff
TechnologyOct. 28, 2012
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S. Korea to log 20 tril. won in fiscal deficit annually until 2016
South Korea will post about 20 trillion won ($18.2 billion) in fiscal deficit every year until 2016, a parliamentary office said Sunday, casting doubt over the government's push to achieve a balanced budget in a couple of years.According to data provided by the National Assembly Budget Office, South Korea will post about 18.5 trillion won in fiscal deficit next year, far higher than the government's deficit forecast of 4.8 trillion won.The larger-than-expected shortfalls come mainly from the off
Oct. 28, 2012
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Korea's rocket launch expected in mid-November
South Korea is likely to make its third attempt to launch its first-ever space rocket in mid-November at the earliest after being forced to postpone it hours before liftoff due to a technical glitch, officials said Saturday.On Friday, South Korea postponed its latest attempt to launch the Korea Space Launch Vehicle-1 (KSLV-1), also known as Naro-1, after a potential fuel leak was detected during the final inspection.Officials at the Ministry of Education, Science and Technology and the Korea Aer
TechnologyOct. 28, 2012
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German doctors remove 28-kilo tumor from woman
Doctors in Germany said Friday they had removed a tumor weighing 28 kilogram’s (62 pounds) from a 60-year-old woman who had previously been diagnosed as obese.A spokesman from the university clinic in the eastern city of Dresden said the woman, Irmtraud Eichler, had made a full recovery after the seven-hour operation and was now able to walk again with crutches.The so-called "borderline" tumor, measuring 60 centimeters (24 inches) by 50 centimeters, attached itself to an ovary and Eichler began
TechnologyOct. 28, 2012
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POSCO says talks to buy Arrium still under way
The Australian unit of South Korea's top steelmaker POSCO is still in talks to buy Australian miner and steelmaker Arrium Ltd., which recently rejected a takeover offer, its head said.In early October, Arrium rebuffed a takeover bid by a consortium including POSCO Australia Pty and Noble Group Ltd. valued at A$1.01 billion ($1.04 billion)."The consortium continues to have talks with Arrium," Shin Soo-cheol, managing-director of POSCO Australia, told reporters on Friday."We are discussing the iss
IndustryOct. 27, 2012
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China's health authorities order recall of Korean instant noodles
China's health authorities have ordered a recall of Nongshim Co.'s instant noodle products that were found to have been tainted in its home country South Korea, officials said Saturday.China's General Administration of Quality Supervision, Inspection and Quarantine made the announcement on its Web site against six types of instant noodles products made by South Korea's largest instant noodle maker.The affected noodles include popular Neoguri, bowl-type Neoguri and Saeng Saeng Noodle. They were f
IndustryOct. 27, 2012
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Seoul shares may gain ground next week: analysts
The South Korean stock market may gain ground next week, but advances are not likely to be large amid nagging concerns about the global economy, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,891.43 this week, down 2.7 percent from a week earlier, beset by the eurozone debt problems and weak corporate earnings results.The KOSPI fell below the 1,900-point for the first time in more than one month Friday after the central bank said that Korea's third-quarter g
Oct. 27, 2012
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Korea Southern said to seek stake in $8 billion carbon project
Korea Southern Power Co., a unit of the nation's monopoly power distributor, is in talks to buy a stake in a British carbon-capture project that may cost 5 billion pounds ($8 billion) to develop, people familiar with the discussions said.The level of Korean equity ownership in the project owned by 2Co Energy Ltd. would be determined after 2Co determines how much funding it can obtain from European investors, said the people who asked not to be named because the discussions are confidential. One
BusinessOct. 27, 2012
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Korea falls in love with horses
Equestrian sports seem to be all the rage, punctuated by international singer Psy’s enticingly addictive “horse dance,” and industry watchers expect the trend to stay. “It all goes back to maybe a decade ago that Koreans, mostly from the wealthier class, started to take an interest in riding,” said Park Kyung-won, manager of the Korea Racing Authority’s equestrian sports promotion team. “More people are now slowly but steadily catching on, and I believe in another 10 years, horseback riding will
IndustryOct. 26, 2012
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Helping children by horsing around
INCHEON ― Seeing kids change is the most incredible feeling, says Yoon Ga-eun, one of the three instructors and professional riding therapists at Riding Healing Center in Incheon Metropolitan City. “I’ve seen many of these kids brighten up after just a few classes. They used to have no idea why they were sent here, but these days they come running to me to tell me how happy and more adjusted they feel,” Yoon told The Korea Herald. “Kids gain confidence simply by sitting tall on horseback. I tell
IndustryOct. 26, 2012
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Riding helps heal strained teens
INCHEON ― Looking nervous, five middle school girls stepped timidly into the riding ring on Wednesday afternoon at the Riding Healing Center in Incheon. They whispered among themselves while awkwardly putting on their riding gear in the corner, refusing to set their eyes on any other object or person there. But at the sight of their instructor and horses, they seemed to instantly relax. There was also a tinge of delight and excitement in their eyes as they bowed deeply to one another. Following
IndustryOct. 26, 2012
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SK Innovation profit tumbles
SK Innovation Co., South Korea’s top refiner, said Friday that its third-quarter net profit nosedived 72 percent from a year earlier due to decreased refining margins.Net income came to 509.7 billion won ($465 million) in the July-September period compared with 1.82 trillion won a year ago, the company said in a regulatory filing.Sales, however, rose 7.5 percent to 18.5 trillion won on-year in the period, while operating profit fell 24.7 percent to 648.7 billion won.Compared with the previous qu
IndustryOct. 26, 2012
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Hyundai Steel swings to black in Q3
Hyundai Steel Co., South Korea’s second-largest steelmaker, said Friday that it swung to a profit in the third quarter thanks to cost-cutting efforts.Net profit reached 232.9 billion won ($212.5 million) in the three months ended Sept. 30, compared with a net loss of 136.9 billion won a year ago, Hyundai Steel said in a regulatory filing.Sales, however, fell 9.06 percent on-year to 3.4 trillion won in the period and operating profit fell 19.4 percent to 230 billion won.Hyundai Steel said decreas
IndustryOct. 26, 2012
