Space station to move to avoid debris

 The Russian space program's Mission Control Center says it will move the International Space Station into a different orbit to avoid possible collision with a fragment of debris.   Mission Control Center spokeswoman Nadyezhda Zavyalova said the Russian Zvevda module will fire booster rockets to carry out the operation Thursday at 07:22 a.m. Moscow time (0322 GMT).   The space station performs eva

TechnologyOct. 3, 2012

Watchdog slams Shinsegae for unfair affiliate aid

South Korea's fair trade watchdog said Wednesday it has imposed fines and sanctions on retail giant Shinsegae subsidiaries for inappropriately supporting affiliates through low sales commission rates.The Fair Trade Commission (FTC) said it gave fines of 4.06 billion won (US$3.65 million) to three Shinsegae companies -- Shinsegae, E-mart and Everyday Retail -- and ordered them to correct their prac

IndustryOct. 3, 2012

Chinese company sues President

A Chinese-owned company has filed a lawsuit in a U.S. federal lawsuit against President Barack Obama for blocking its wind farm project deal in Oregon.In a complaint filed in the U.S. District Court in Washington, Ralls Corp., owned by Chinese nationals, alleged Obama acted in "an unlawful and unauthorized manner" in issuing his order without providing "any evidence or reasoned explanation" for hi

Oct. 3, 2012

Two nuclear reactors halted; 7 shutdowns this year

Officials downplay safety concerns despite incident frequencyReactors at Shin-Kori Nuclear Power Plant in Busan and Younggwang Nuclear Power Plant malfunctioned on Tuesday, adding to public concerns about the safety of the nation’s ageing nuclear reactors. The shutdown at Younggwang was the seventh this year for a nuclear reactor, coming just hours after Shin-Kori 1 reactor witnessed the sixth. It was also the first time two reactors halted operation on the same day. The state-run Korea Hydro &

Oct. 2, 2012

More drugs, watches being smuggled via online transactions

Goods and drugs that were illegally imported online rose by more than one-quarter from last year to reach 541.1 billion won ($486 million) during the first eight months of this year, the Korea Customs Service announced on Tuesday.The state-run customs agency said there were 22 more cases than in the same period last year, while the sales volume climbed by 125.4 billion won. “These illegal goods usually enter the country through express mail services or courier services that are registered as les

IndustryOct. 2, 2012

Stock index stays flat

South Korean stocks remained nearly unchanged Tuesday as investors took to the sidelines with no clear signs of economic recovery in sight, analysts said. The local currency declined against the U.S. dollar. The benchmark Korea Composite Stock Price Index dipped 0.18 points, or 0.01 percent, to 1,996.03. Trading volume was moderate at 491.8 million shares worth 3.6 trillion won ($3.2 billion) with gainers closely outpacing decliners 412 to 399. “There were some good news from the United States o

Oct. 2, 2012

Samsung adds iPhone 5 to patent row

Samsung Electronics Co. said Tuesday it has officially added Apple Inc.’s iPhone 5 to the ongoing patent war between the two smartphone titans, a move that could affect sales of the latest iPhone.In a statement, Samsung, the world’s largest smartphone maker, said it has filed a motion to add Apple’s latest gadget to the U.S. patent row on charges of infringing its patents.“Apple continues to take aggressive legal measures that will limit market competition. Under these circumstances, we have lit

TechnologyOct. 2, 2012

U.S. concerned about trade deficits after FTA with Korea

WASHINGTON (Yonhap News) ― A U.S. congressional committee voiced concerns Monday over growing deficits in trade with South Korea following the implementation of a free trade agreement.But the Joint Economic Committee, composed of 10 members each from the Senate and the House of Representatives, said it’s premature to conclude that the FTA was a mistake.In a report on U.S. trade with South Korea, the committee pointed out, “Since the free trade agreement was implemented in March 2012, imports fro

Oct. 2, 2012

Samsung, Hyundai Motor see brand boost

Electronics giant named one of top 10 global brands while carmaker ranked 53rd in worldFor the first time, Samsung Electronics was included on the list of the world’s 10 most valuable brands selected by Interbrand on Tuesday.Hyundai Motor and its affiliate Kia Motors also saw their brand values highly estimated by the agency, being ranked 53rd and 87th, respectively, on the list published by the world’s leading brand management consultancy.According to the 13th annual Best Global Brands report f

IndustryOct. 2, 2012

Toys imported from U.S., Europe ‘overpriced’

Toys from the U.S. or European Union countries are sold here at prices up to 165.2 percent higher than in the countries of origin, the Korea Consumer Agency said on Tuesday. According to the KCA’s research on 1,140 imported toys sold in 75 local department stores, discount marts, toy shops and online stores, most of the toys were sold at remarkably high prices to Korean consumers. Toys from the U.S. showed the highest price gains with a minimum of 94 percent higher than U.S. prices, up to 165.2

IndustryOct. 2, 2012

POSCO faces hurdle in buying Australian steel maker Arrium

Despite differences over takeover terms, bidding is likely to continue, analysts sayKorean steel giant POSCO is facing a bumpy road to take over Arrium, Australia’s second-largest steelmaker, on disagreements over its stock value. A consortium named Steelmakers Australia, which POSCO has joined as a strategic investor, offered 1.2 trillion won ($1.03 billion), or 860 won (78 cents) per share, to Arrium last Friday to buy all Arrium shares, but the Australian steel maker, previously known as OneS

IndustryOct. 2, 2012

Korean Air allows only one free luggage item in economy

The nation’s biggest air carrier will allow only one free piece of luggage to be checked in for economy class passengers on international flights, starting Tuesday. Those taking flights to the U.S. are excluded. Korean Air announced on Tuesday that it will adapt the Piece System which limits the number of luggage items instead of weight, following the international trend. Under the new system, economy class passengers will be allowed to check in only one piece of luggage at a maximum weight of 2

IndustryOct. 2, 2012

Samsung motions to add iPhone 5 to patent case

South Korea's Samsung Electronics Co. says it has filed a motion with a U.S. court to add Apple's iPhone 5 to their ongoing patent battle.Samsung says it filed the motion Monday with the California court, alleging that Apple's new phone infringes on eight of its patents.The two companies are locked in a struggle for supremacy in the global smartphone market, leading to legal cases in courts across

TechnologyOct. 2, 2012

New Zealand produces allergy-free milk

Researchers in New Zealand say they have genetically engineered a cow to produce milk free of a protein that causes allergies in children.The study, published in Proceedings of the National Academy of Sciences, used a technique known as RNA interference to block the production of the protein beta-lactoglobulin, which is produced in cows but not found in human milk.Study co-author Dr. Stefan Wagner

TechnologyOct. 2, 2012

S. Korea's consumer prices grow 2 percent in Sept.

South Korea's consumer prices grew at the fastest pace in three months in September mainly due to increased prices of farm products, a report showed Tuesday.The country's consumer price index rose 2 percent from a year earlier in September, quickening from the 1.2 percent gain tallied in the previous month, according to the report by Statistics Korea.The index also advanced 0.7 percent from a mont

Oct. 2, 2012