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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Seoul snowfall now third heaviest on record
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Korean Air gets European nod to become Northeast Asia’s largest airline
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Samsung shakes up management, commits to reviving chip business
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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How $70 funeral wreaths became symbol of protest in S. Korea
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Chaos unfolds as rare November snowstorm grips Korea for 2nd day
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Two fresh orders boost flagging Hyundai Heavy
Company holding out for fourth-quarter spurt of multi-billion-dollar dealsHyundai Heavy Industries, the world’s largest shipbuilder, is gaining momentum to put its shipbuilding business back on track after winning two large-scale orders worth a combined $3.5 billion. On Wednesday, the ship manufacturer announced that it won a $270 million order to build one LNG Floating Storage Regasification Unit, or FSRU, for HEGH of Norway. The onshore facility, which can transit LNG from carriers and transfe
IndustryOct. 11, 2012
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Air France-KLM, Etihad Airways, Air Berlin form new partnership
The Air France-KLM Group, Etihad Airways and Air Berlin recently signed new codeshare agreements to stenghten their commercial partnership. Starting on Oct. 28, the three international air carriers will offer customers more destinations and greater frequency, thanks to the mutual codeshare agreements, the companies said this week in a joint press release.On the routes between Europe and Abu Dhabi, Etihad Airways customers will be able to fly on the Amsterdam-Abu Dhabi daily flight operated by KL
IndustryOct. 11, 2012
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Mars rover photograph shows strange object
This image released by NASA on October 4, 2012 shows NASA`s Mars rover Curiosity as it cut a wheel scuff mark into a wind-formed ripple at the "Rocknest" site. (AFP-Yonhap News)A mysterious object photographed by NASA's Mars Curiosity rover is a "shred of plastic material, likely benign," probably shed by the rover, engineers say.The bright object showed up on photos sent to Earth by the rover as
TechnologyOct. 11, 2012
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‘Splitting’ passwords said security help
A product that scrambles and then splits users‘ passwords in two before storing them on different computer servers has been unveiled by a U.S. security firm.Network security company RSA said splitting the passwords could thwart hackers, who would gain access to only half a “randomized” password even in the case of a successful attack.The “distributed credential protection” system was announced at RSA’s annual European Conference in London, the BBC reported Wednesday.“DCP scrambles, randomizes an
TechnologyOct. 11, 2012
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BOK cuts key rate to 2.75 percent in Oct.
South Korea's central bank cut the key interest rate on Thursday following the second straight month of the freeze as the local economy loses steam on weaker exports and sluggish domestic demand.Bank of Korea Gov. Kim Choong-soo and his six fellow policymakers lowered the benchmark 7-day repo rate by a quarter percentage point to 2.75 percent for October, the second rate cut this year.The October
Oct. 11, 2012
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Caesar assassination site confirmed
Spanish researchers say they've identified the exact spot in Rome where Emperor Julius Caesar was assassinated in 44 B.C.Scientists at the Spanish National Research Council said the key to the discovery was a concrete structure 10 feet wide and more than 6 feet high, placed by order of Augustus, the adoptive son and successor of Julius Caesar, to condemn the assassination of his father.The locatio
TechnologyOct. 11, 2012
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‘Jurassic Park’ dino rebirth not possible
The concept of reconstructing dinosaurs from ancient DNA is unlikely since genetic material can only last 1 million years, Australian researchers say.While short fragments of DNA could possibly survive up to a million years, more complex sequences of genetic material would only have a half-life of around 158,000, dealing a blow to thoughts of living bringing dinosaurs back to life as featured in the storyline of the 1993 movie “Jurassic Park,” they said.Scientists made that determination after a
TechnologyOct. 11, 2012
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Apple iPad Mini said to be WiFi only
Apple's anticipated iPad Mini will likely be WiFi only, shipping without access to 3G or 4G data networks, a British newspaper is reporting.Offering mobile data would be counter to the whole point of the iPad Mini, which is seen as Apple's effort to make a much less expensive version of its popular full-size tablet to compete with lower price devices from Google and Amazon, The Guardian reported W
TechnologyOct. 11, 2012
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Seoul shares start lower on U.S. losses
South Korean stocks got off to a weak start Thursday as investor sentiment was dampened by overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 13.49 points, or 0.69 percent, to trade at 1934.73 in the first 15 minutes of trading.Shares lost ground across the board, with market bellwether Samsung Electronics falling 1.28 percent and chipmaker
Oct. 11, 2012
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S. Korean ranks 8th in business environment index
South Korea has the world's eighth-best business environment, according to a survey by a renowned consulting firm.Grant Thornton International on Wednesday released the Global Dynamism Index based on its research of the business environments of 50 major nations.South Korea recorded 64.9 out of the perfect 100 points in the overall assessment of the business operating environment, economics and gro
IndustryOct. 11, 2012
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September job figures pick up on holiday effect
Job figures for September rose by the biggest amount in over a decade thanks to a “holiday effect,” the government said Wednesday. The number of employees in September rose by 685,000 from the same period last year to reach slightly over 25 million. The previous record-high increase had been in March 2002, when it rose by 842,000 people. The holiday effect ― Chuseok thanksgiving holidays in September were excluded from the survey ― meant that there were more working days for the month. Temporary
Oct. 10, 2012
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POSCO E&C picked as most philanthropic builder
POSCO Engineering and Construction said Wednesday that it has been picked as the most socially responsible builder in a recent survey conducted by a local think tank. The company received high points for its active overseas volunteering activities, ranking fourth across industries next to Yuhan Kimberly, Samsung Electronics and its parent company POSCO.The survey, conducted by the Institute for Industrial Policy Studies, questioned some 300 respondents living in the Seoul Metropolitan Area for o
IndustryOct. 10, 2012
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Hanwha expands philanthropic activities
Hanwha Group has launched yearly voluntary assistance activities for the underprivileged to commemorate the 60th anniversary of its foundation.“About 5,000 executives and employees from a group of business units nationwide will participate in the social contribution activities until the end of October,” Hanwha said in a statement.Under group chairman Kim Seung-youn’s initiative for social benevolence, the conglomerate has been widening the scope of philanthropic activities since 2007, according
IndustryOct. 10, 2012
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Seoul reinforces plan to help restore N. Korean forests
Over 30 percent of North’s forests devastated, need urgent recovery: KFSThe South Korean government has drawn up a proposal to help reforest the North more systematically, as forests there continue to disappear.About 2.7 million hectares of forest in North Korea ― an area about the size of Pyongyang ― has disappeared in the past 20 years. According to the 2011 State of the World’s Forests report published by the Food and Agriculture Organization of the United Nations, only 47 percent of the lan
Oct. 10, 2012
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LS Cable completes U.S. power cable plant
LS Cable & System, the world’s No. 3 cable maker, said Wednesday it has completed a power cable plant in Tarboro, North Carolina, in a bid to boost its presence in the world’s largest economy.The move comes as the company beefs up efforts to bolster its global footing by focusing on the United States, the world’s leading producer and consumer of electric power.“The completion of the plant is one of the most important moments in the 50-year history of LS Cable & System,” chairman Koo Ja-yeol said
IndustryOct. 10, 2012
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Shares down 1.56% on foreign, institutional selling
South Korean stocks slumped 1.56 percent on Wednesday as foreigners and institutions scaled back their holdings amid nagging concerns over the global economy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 30.82 points to 1,948.22, declining for the third straight session.Trading volume was moderate at 442.6 million shares worth 4.66 trillion won ($4.18 billion), with decliners outnumbering gainers 595 to 223. “With foreigners
Oct. 10, 2012
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Consumers demand refund for ‘Downy’
South Korean consumers are demanding refunds for P&G’s fabric softener Downy in which a toxic substance was allegedly detected. Consumers Korea announced on Tuesday that its research conducted from May to August showed that Downy Berry Berry and Downy Vanilla Cream made in Vietnam contained 98 milligrams of glutaraldehyde per kilogram, which is classified as poisonous by the local harmful chemical substance management law. “The substance is highly toxic, has strong disinfectant properties, and m
IndustryOct. 10, 2012
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Samsung, Google prepare to launch Nexus tablet
Samsung Electronics and Google are boosting their alliance in preparation to launch a 10.1-inch Nexus tablet PC.The new tablet will boast a display screen with a pixel density higher than on Apple’s third-generation iPad, Richard Shim, an analyst at NPD DisplaySearch, told CNET.“It’s going to be a high-end device,” Shim said, in contrast to Google’s $199 Nexus 7 and upcoming $99 tablet.Although a Samsung official declined to confirm the report, local industry sources said the process is currentl
IndustryOct. 10, 2012
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Ex-French P.M. underscores ties with Asia
New opportunities abound for further political and economic cooperation between Europe and Asia, former French Prime Minister Jean-Pierre Raffarin said in an economic forum hosted by the French Korean Chamber of Commerce and Industry on Wednesday.About 90 French and Korean business and government leadership, including French ambassador to Korea Fabrice Legerri, FKCCI chairman David-Pierre Jalicon, Incheon Free Economic Zone high officials and leading French entrepreneurs attended the forum entit
IndustryOct. 10, 2012
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STX chief discusses shipbuilding with Myanmar president
STX Group chairman Kang Duk-soo discussed business cooperation in such areas as energy development, power generation and shipbuilding with visiting Myanmarese President Thein Sein on Wednesday, company officials said. “Myanmarese President Thein Sein, who is on a three-day state visit to Korea with his delegation from Monday, had a luncheon meeting with the group’s top management in Jinhae, South Gyeongsang Province, and took a field trip to the shipyard of STX Offshore & Shipbuilding,” the grou
IndustryOct. 10, 2012
