Consumer sentiment stays below par for 2nd month

South Korean consumers’ confidence stayed below par for the second straight month in September as the protracted eurozone debt crisis heightened economic uncertainties, the central bank said Tuesday.The consumer sentiment index ― a gauge of consumers’ overall economic outlook, living conditions and future spending ― came in at 99 for September, unchanged from the previous month, according to a survey by the Bank of Korea.The September figure marked the lowest level since the index hit 98 in Janu

Sept. 25, 2012

Politics-driven stocks fluctuate ahead of presidential election

Volatility marked the politics-driven stocks listed on the stock exchanges of South Korea where election season has rolled around.Investors who bet on these so-called “political” stocks lost 1.55 trillion won ($1.3 billion) between June 11 last year and May 31 this year, according to the Financial Supervisory Service. The FSS had recently conducted a survey on some 35 stocks that appeared to be moving in tandem to the current political climate or the three central figures running in the presiden

Sept. 25, 2012

2013 budget allocates more for welfare, small businesses

Government promises over 100,000 jobs for youth, greater budget to fight sex crimes and school violenceThe government’s 2013 budget plan appears to focus on support for more welfare programs to stabilize the livelihood of ordinary people, while maintaining a budget balance. The budget plan includes expanded support for small and mid-sized companies from 69.5 trillion won this year to 78 trillion won, and an additional 10 billion won for companies that open branches overseas. The government plans

Sept. 25, 2012

Newest expansion for ‘World of Warcraft’ unveiled

Blizzard Entertainment on Tuesday showcased its latest edition “World of Warcraft: Mists of Pandaria” at a press conference held in Seoul. Launched three years after its predecessor “World of Warcraft: Cataclysm,” "Mists of Pandaria" premiered in Korea as Blizzard’s the fourth expansion set. The game company will give the public a chance to try out the new "Mists of Pandaria" for free starting on Thursday. "Mists of Pandaria" will begin nationwide charged service on Oct. 1. The new game involves

IndustrySept. 25, 2012

Hyundai Capital taps China’s auto financing market

Hyundai Motor Group announced Tuesday that its automobile financing subsidiary has successfully made inroads into the Chinese market through a joint venture.“Hyundai Capital Services launched Hyundai Capital China, a joint venture firm in collaboration with Beijing Automotive Industry Group Investment,” the automotive group said in a statement.It said the joint entity, headquartered in Beijing, will provide Chinese consumers with auto financing for Hyundai and Kia vehicles.The group’s initial in

IndustrySept. 25, 2012

History of Earth‘s oxygen studied

SEATTLE (UPI) -- Microbial life may have migrated from Earth’s oceans to land by 2.75 billion years ago, producing oxygen earlier than previously thought, U.S. scientists say.Research reported from the University of Washington suggests the land-based microbes were producing oxygen well in advance of what geologists refer to as the “Great Oxidation Event” about 2.4 billion years ago that initiated

TechnologySept. 25, 2012

Safe data storage for millions of years?

TOKYO (UPI) -- Japanese electronics firm Hitachi says it has invented a way of storing data that could keep it safe and stable for hundreds of millions of years.The technology behind the long-term storage capability involves a laser that is employed to encode data into a piece of quartz glass with dots corresponding to binary code that can be read back by an optical microscope, ZDNet reported.Hita

IndustrySept. 25, 2012

On Apple Maps, all roads lead to Google

CUPERTINO (UPI) -- U.S. technology giant Apple’s foray into mobile maps with its iPhone 5 had to do with advertising and a growing rivalry with Google, industry observers said.Apple’s iPhone 5, which went on sale Friday included a new online maps service that was “littered with flaws, some laughable,” The New York Times reported Monday.But behind the effort to compete with Google is the lucrative

TechnologySept. 25, 2012

Consumer sentiment stays below par for 2nd month in Sept.

South Korean consumers' confidence stayed below par for the second straight month in September as the protracted eurozone debt crisis heightened economic uncertainties, the central bank said Tuesday.The consumer sentiment index -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 99 for September, unchanged from the previous month, according to a s

Sept. 25, 2012

Kumho Tire reaches tentative wage deal with union

Kumho Tire Co. reached a tentative wage deal with its union early Tuesday after overnight marathon negotiations, the company said.Under the agreement, South Korea's second-biggest tire maker will give workers 2.5 million won (US$2,200) and 50 percent of their monthly wages as lump-sum incentive payments.The labor union will vote on the tentative agreement on Thursday.The tentative deal came more t

IndustrySept. 25, 2012

Yearly salary at top 30 groups tops W63m

The average salary for workers in the nation’s 30 major conglomerates has come to 63 million won ($56,300) per year, according to a corporate information tracker.Hyundai Motor Group eclipsed the rest with a yearly wage payment of 84 million won last year, data gathered by chaebul.com showed. The nation’s No. 2 business group has 10 listed subsidiaries including Hyundai Mobis and Kia Motors.Hyundai Heavy Industries ranked second with 76.4 million won, followed by Samsung Group with 74.8 million w

IndustrySept. 24, 2012

Self-study 'fake' Japan doc examined 2,300

Japanese police on Monday arrested a man who posed as a doctor to earn cash, examining 2,300 people with little more than a few hours of self-study to back it up, police and media said.Miyabi Kuroki, 43, had no experience of medical school and passed himself off as a qualified doctor after finding the identity of a legitimate physician on the Internet, Jiji Press reported.He was dispatched by an e

TechnologySept. 24, 2012