Most Popular
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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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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Seoul snowfall now third heaviest on record
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NewJeans terminates contract with Ador, embarks on new journey
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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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Korean Air gets European nod to become Northeast Asia’s largest airline
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Showing the goal amount motivates saving
A U.S. psychologist says people don‘t save because they don’t do the math to calculate the result of their savings -- if they did, it would motivate them. Craig McKenzie, a cognitive psychologist with the Rady School of Management at the University of California, San Diego, said his experiment with a simple intervention demonstrated the enormous benefits of earning compound interest motivated his
Sept. 17, 2012
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Believers in luck = unhealthier lifestyle
People who have a greater faith in luck or fate are more likely to live an unhealthy lifestyle, Australian researchers say.Professor Deborah Cobb-Clark, director of the Melbourne Institute of Applied Economic and Social Research, also found people who said they believed their life can be changed by their own actions ate healthier food, exercised more, smoked less and avoided binge drinking.“Our research shows a direct link between the type of personality a person has and a healthy lifestyle,” Co
TechnologySept. 17, 2012
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Seoul shares open higher on U.S. gains
South Korean stocks opened higher on Monday as investor sentiment got a boost from the U.S. Fed's latest stimulus measure, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed0.85 points, or 0.04 percent, to 2008.43 in the first 15 minutes of trading.Tech blue chips drove up the shares, with LG Electronics gaining 1.59 percent and SK hynix, the world No. 2 memory chipmake
Sept. 17, 2012
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People who read labels weigh less
Women who read food labels weigh nearly 9 pounds less than women who didn‘t read labels, researcher in Spain said.Lead author Maria Loureiro of the University of Santiago de Compostela and colleagues at the University of Tennessee, the University of Arkansas and the Norwegian Institute for Agricultural Finance Research used data from the annual National Health Interview Survey conducted by the U.S. Centers for Disease Control and Prevention.Some 25,640 observations were collected on health, eati
TechnologySept. 17, 2012
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Re-launching pet supply firm offer special discount
Online pet supply store Monami Pet is offering a special discount in September to celebrate the brand’s re-launching and the inauguration of its new CEO, Song Ha-kyung, company officials said on Sunday.Starting Sept. 1, the online pet supply store has been selling about 5,000 types of pet supplies, including best-selling pet feed brand ANF and Natura at prices lower than at competing retailers, the officials said.In addition, Monami Pet has been promoting other events such as free testing events
BusinessSept. 16, 2012
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Scientists develop high stability, sensitivity disease probe
A local team of scientists have developed a new method for detecting particles specific to particular conditions, opening new possibilities for early diagnosis.With many chronic conditions, early detection is crucial for effective treatment. Even with incurable conditions such as acquired immunodeficiency syndrome, or AIDS, entering a treatment regime early on can extend the patient’s life expectancy for as much as several decades. As different conditions can have similar effects on the body i
TechnologySept. 16, 2012
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Agro-fisheries CEOs emphasize exports
About 20 CEOs leading the National Agro Food and Beverage Cluster Association under the Ministry of Food, Agriculture, Forestry and Fisheries held their second CEO Forum last week in southern Seoul to discuss ways to boost the nation’s agriculture and fisheries industry. Lee Kyung-soo, head of the association as well as president of Jebba Food & Beverage Corp., a guild of bokbunja growers in Gochang, North Jeolla Province, stressed in the meeting that CEOs in the agriculture and fisheries indust
IndustrySept. 16, 2012
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‘Protectionism’ concerns rise after patent disputes between Samsung, Apple
ITC initially rules Apple did not infringe Samsung patentsProtectionism is rising as a hot topic following the U.S. International Trade Commission’s initial ruling last week that Apple did not violate four of Samsung Electronics’ patents.Edward Gildea, administrative law judge at the ITC, said in a notice posted on its website that the Cupertino-based Apple’s gadgets ― such as the iPhone, iPad and iPod ― did not infringe on Samsung’s intellectual properties earlier on Saturday, local time.The ev
IndustrySept. 16, 2012
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Korea seeks to globalize won via tie-up with China
South Korea is seeking to expand the use of the won in trade with China as part of its efforts to internationalize its currency by reducing heavy reliance on the dollar and better cope with risks from external turbulence, the finance minister said.To that end, the government will tap into the Korea-China currency swap line, through which it lends money to Chinese firms and encourages them to settle payments for trade by using the won, he added.This is the first meaningful action by the governmen
Sept. 16, 2012
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Stocks expected to continue upward move this week
South Korean stocks are expected to keep their upward momentum this week on improved investor sentiment following recently-unveiled stimulus measures by the U.S. Federal Reserve, analysts said Saturday.The country’s key stock index, the KOSPI, jumped 4.04 percent, or 78 points, last week to close at a five-month high of 2,007.58 on Friday.On Friday alone, the index rallied 2.92 percent as investors cheered the Fed’s decision to purchase mortgage bonds as long as it needs and keep interest rates
Sept. 16, 2012
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QE3 raises need for Korea to smooth capital inflows: BOK
South Korea’s top central banker has stressed the need to smooth the volatility of cross-border capital flows as emerging countries cannot block liquidity inflows stemming from advanced economies’ monetary easing steps.Central banks in the U.S. and the eurozone announced in September moves to take unconventional monetary easing steps in a bid to prop up their fragile economies, dogged by the eurozone debt crisis.The Federal Reserve pledged Thursday to pump $40 billion every month into the U.S. e
Sept. 16, 2012
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Shareholders to announce 2nd bidding for KAI sale
Major shareholders of Korea Aerospace Industries Ltd. plan to make a second public notice of bidding this week to sell a 41.75 percent stake in the aircraft manufacturer, Korea Finance Corp. said Sunday.The state-run Korea Finance Corp., which is in charge of the sale as the biggest shareholder of KAI with a 26.41 percent interest, will announce the second bidding on Monday, it said. The deadline to submit preliminary bids is Sept. 27.Other major shareholders include Hyundai Motor Co. and Doosan
Sept. 16, 2012
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Chinese leader visits Kia Motors plant
Kia Motors is gaining stronger confidence from senior public officials in China as it has successfully carried out localization strategies in its operation of automobile manufacturing plants in the country.The carmaker said that China’s top political adviser Jia Qinglin visited a Kia factory, dubbed Dongfeng Yueda Kia, in Yancheng District Economic Development Zone in Jiangsu Province over the weekend.Jia, one of the top four Chinese leaders, along with Hu Jintao, Wu Bangguo and Wen Jiabao, hold
IndustrySept. 16, 2012
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GS chief instructs staff to adapt to latest trends
GS Group chairman Huh Chang-soo called on his staff to build up a robust management structure by swiftly adapting to the latest trends.“If GS really wants to take the initiative in successfully coping with changes in the market, it should profoundly assess customer needs,” he told subsidiary CEOs at a future strategy meeting over the weekend.New concepts and ideas, based on these research activities, will guarantee a basis of firmly rooted management, he stressed.Over the past few years, the GS
IndustrySept. 16, 2012
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Korea fastest to recover from global crisis
Automobiles, electrical goods exports led speedy recovery: analystsAmong the world’s major economies, South Korea is most rapidly recovering from the global financial crisis stemming from the fall of Lehman Brothers in 2008, studies showed Sunday. The Korean market posted the highest overall share price increase among 11 major economics of the world during the past four years, according to research by the Korea Center for International Finance. The KCIF assessed 10 other countries that rank the
Sept. 16, 2012
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Japan’s first new-vehicle niche in 50 years imitates cart
It’s smaller than a golf cart, runs on electricity and will probably soon be road-legal. The ultracompact is set to be Japan’s first new vehicle niche in 50 years and an opportunity for the likes of Yoshiro Sugimoto. Town EV, Sugimoto’s startup, plans to have the 800,000 yen ($10,000) ZEVe ultracompact on the market in Japan next year. “This is a once-in-a-lifetime chance,” said Sugimoto, 62, a former Toyota Motor Corp. veteran of 16 years who became fascinated by ultracompacts and pooled 20 mil
MobilitySept. 16, 2012
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‘Korea needs to benchmark Canada, U.S. for nuclear safety’
Transparency in decision-making process is vital to win residents’ supportOn March 11, 2011, the world witnessed how an ill-managed nuclear plant can affect people’s daily lives. The infamous Fukushima nuclear disaster has become a mark of shame for the entire nuclear power industry ever since.Experts agree that one of the toughest items on the agenda for pro-nuclear energy countries like Korea is safety. Nevertheless, the Korean Ministry of Knowledge Economy and nuclear-related institutions un
Sept. 16, 2012
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Foreign brands tap used car market
More drivers consider used import cars for cheaper price and better after-sales serviceThe coming weeks ahead of the Chuseok holiday at the end of this month are the peak season for the used car market here, according to dealers. “People want to meet their relatives in a better car even though it is secondhand. You can also find a better deal during the period,” said Im Min-kyoung, a spokesperson for SK Encar, the nation’s largest used car dealer. She added that a new trend within the industry
MobilitySept. 16, 2012
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Fiat CEO says German peers ‘deaf’ to call for EU help
Fiat SpA Chief Executive Officer Sergio Marchionne said German carmakers are sticking to their opposition to his efforts to form a united front to push the European Union to address overcapacity in the region. Calls for coordinated efforts have “fallen on deaf ears, certainly from my German colleagues, who do not see the need,” Marchionne, who is also head of Chrysler Group LLC, told reporters Friday in Detroit. Volkswagen AG, Daimler AG and Bayerische Motoren Werke AG are resisting a proposal b
MobilitySept. 16, 2012
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KEPCO seeks to expand overseas business to W75tr
State-run power firm strives to reduce deficit during CEO Kim’s first year via exportsKorea Electric Power Co. has vowed to achieve financial soundness by making greater profits from the global power market while keeping power rates affordable. To meet its vision for 2025, the state-run power company is pushing to increase sales to 150 trillion won ($134 billion) and its overseas business to up to 50 percent of total operations. Currently KEPCO’s overseas sales make up only 3 percent of the tota
Sept. 16, 2012
