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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Samsung shakes up management, commits to reviving chip business
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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How $70 funeral wreaths became symbol of protest in S. Korea
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NewJeans terminates contract with Ador, embarks on new journey
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Chaos unfolds as rare November snowstorm grips Korea for 2nd day
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Twin stars found with multiple planets
This scene from movie "Star Wars" shows a fictional planet Tatooine, which orbits two stars.U.S. astronomers say the Kepler planet-hunting mission found the first multi-planet solar system orbiting a binary star, bringing images of "Star Wars" to mind."It's Tatooine, right?" University of Texas at Austin astronomer Michael Endl said, referring to the fictional planet with twin suns in the popular
TechnologyAug. 30, 2012
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Korean investments in overseas securities fall in Q2
South Korean investments in overseas securities fell for the first time in three quarters in the second quarter as the eurozone debt crisis hit share prices, the central bank said Thursday.Institutional investors' investments in foreign stocks, bonds and so-called Korean Paper reached an outstanding $54.44 billion as of the end of June, down $2.2 billion from three months earlier, according to the
Aug. 30, 2012
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Seoul shares open lower on blue-chip losses
South Korean stocks got off to a weak start Thursday, dented by losses in blue chips, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.04 points, or 0.62 percent, to 1,916.50 in the first 15 minutes of trading. Large-cap shares dipped across the board, with market bellwether Samsung Electronics sinking 1.06 percent and No. 1 automaker Hyundai Motor sliding 1.02 percen
Aug. 30, 2012
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Korea submits FTA with Turkey to parliament for ratification
South Korea's government on Wednesday submitted a free trade deal with Turkey to the National Assembly for ratification, the final step needed for Seoul to put the pact into effect, the trade ministry said.After nearly two years of negotiations, South Korea and Turkey signed the free trade agreement on manufactured goods on Aug. 1.The two countries plan to hold further talks this year to conclude
Aug. 29, 2012
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Asset deflation clouds Korean economy
Falling prices of property, stocks deal blow on consumptionFears of an asset deflation are casting a shadow over the Korean economy as prices of real estate and stocks continue their downward streaks.Murky outlooks on the recovery of asset prices dampen consumption and investment in the long term, which in turn pulls down asset prices further. The value of real estate, which takes up about 80 percent of assets owned by Korean households, has been dropping over the past four years.Apartment price
Aug. 29, 2012
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‘Four rivers’ worth W52tr, Dokdo W7.4b: Land Ministry
The Land Ministry estimated the asset value of Dokdo at 7.4 billion won and the refurbished four rivers at 51 trillion won, according to a report the ministry submitted to the National Assembly.Land Ministry officials said that the government reevaluated all state-owned land assets including Dokdo and the nation’s major four rivers. The report calculates the total properties under the supervision of the ministry as worth around 542.7 trillion won, which takes up about 35.6 percent of state asset
Aug. 29, 2012
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POSCO E&C expands social contributions
Following is the fourth in a series of stories about companies’ social contribution activities. ― Ed.POSCO Engineering & Construction, a leading Korean builder, is stepping up efforts in social contribution activities by encouraging employees to participate in volunteer programs both in Korea and abroad. The construction unit of the world’s fourth-largest steelmaker POSCO last year announced its new slogan “Happy Builder,” which represents the company’s willingness to create a happier society.
IndustryAug. 29, 2012
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Vieworks further pushes for global leadership
Global No. 1 industrial camera maker eyes growth in OLED, X-ray markets Liquid crystal display manufacturing involves sophisticated technology.It also involves high-end inspection equipment and systems to make sure manufacturers such as Samsung Electronics can produce the world’s top quality LCDs.High-performance industrial cameras such as those made by Vieworks are crucial parts of such equipment that can detect even the tiniest flaws, unnoticeable to the human eye, before products are shipped
TechnologyAug. 29, 2012
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Justice comes under spotlight in Samsung-Apple verdict
Fairness has come under spotlight over the recent verdict on the patent lawsuit between Samsung Electronics and Apple.Local market observers including some analysts remained cynical over the situation that Apple won a billion dollars last week, after a jury ruled that Samsung had copied a handful of features from the iPhone.They cast doubt if the jury really profoundly reviewed a variety of documents, tendered from both sides, which involve technology-related sophisticated content. “While attorn
IndustryAug. 29, 2012
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Korea’s current account surplus hits new high
South Korea’s current account surplus rose to a new high in July as imports fell at a steeper pace than exports amid weakening demand and falling oil prices, the central bank said Wednesday.The current account surplus reached $6.1 billion in July, up from a revised $5.88 billion the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The July data marked the sixth straight month of the surplus run, worth a cumulative $19.85 billion, a
Aug. 29, 2012
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Hyundai Heavy has highest credit rating among top 10 chaebol: study
Among the nation’s 10 conglomerates, Hyundai Heavy Industries marked the highest credit rating, according to recent research. CEO Score, a CEO and company appraising website, said on Wednesday that Hyundai Heavy Industries issued a total of 1.2 trillion won ($1.06 billion) worth of corporate bonds between July last year and Aug. 24 this year, at an average annual interest rate of 3.51 percent. The interest rate was the lowest among the ten conglomerates researched, which signifies that the compa
Aug. 29, 2012
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Koreans spend more at local duty-free shops than abroad
South Korean overseas travelers spend more at local duty-free shops on the way out than at their actual travel destinations, according to a report by the Korea Chamber of Commerce and Industry. A survey conducted on 700 Korean travelers showed that one spends an average of 459,000 won ($405) at duty-free shops per departure and about 389,000 won at their travel destinations, the KCCI said on Monday. Travelers to the South Pacific region, Southeast Asia or Japan especially spent more at duty-free
IndustryAug. 29, 2012
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LG to release Optimus L9 globally
LG Electronics Inc. said Wednesday it plans to release the Optimus L9model globally starting next month in countries across Asia, Europe and North America.The Optimus L9, which is the fourth model in the Optimus-L lineup, supports smarter user experience features such as the “Q Translator,” which translates texts into 64 languages, according to LG.To use the feature, users can scan texts with the embedded camera, which will then be translated through dictionaries and online translation engines.T
TechnologyAug. 29, 2012
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Regulators to strengthen surveillance on patent deals
Monitoring puts more emphasis on tech, drug sectorsThe nation’s antitrust watchdog is looking into patent licensing deals between multinational companies and their Korean partners with an aim to prevent abuse cases here, officials said Wednesday. According to officials of the Fair Trade Commission, the regulator has recently completed a rough investigation into major patent contracts in the tech and pharmaceutical sectors and requested a private institution to carry out an in-depth analysis. “We
IndustryAug. 29, 2012
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Korea, Vietnam vow stronger partnership in forest investment
The Korea Forest Service met with its Vietnamese counterparts on Monday for the seventh Korea-Vietnam forest partnership conference held at the Korea Forest Research Institute in Seoul. Officially titled “Seventh Meeting of Korea-Vietnam Forestry Cooperative Committee,” the conference invited both nations to discuss ways to attract Korean investment in Vietnamese forestry. Beyong strengthening government promotion for active investment, the 20 participants agreed to give greater authority to the
IndustryAug. 29, 2012
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Korean, ASEAN ministers to adopt ...joint declaration on forests
Over 100 high-level officials from 11 countries participate in two-day special meeting to discuss forestation cooperationForestry ministers from Korea and member countries of the Association of Southeast Asian Nations are to announce the Seoul Declaration on Forestry on Thursday, which vows cooperation on forestry maintenance, as a result of the two-day special meeting held in Seoul. The Special ASEAN-Korea Ministerial Meeting held from Aug. 29-30 was aimed at discussing concrete measures of th
Aug. 29, 2012
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Samsung to take stronger stance in fight with Apple
Samsung Electronics is expected to take a stronger stance in its patent battle against U.S. software giant Apple Inc. as its chairman Lee Kun-hee urged management to make the “right” moves.Lee on Tuesday told company executive Choi Gee-sung, head of the group’s strategic office, to “take the appropriate actions” after being briefed about the current situation.“Chairman Lee does not get briefed too frequently about the patent fight with Apple but we believe we will take a more firm stance against
IndustryAug. 29, 2012
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Credit card firms to cut commission fees for merchants
South Korean credit card firms will lower their commission rates next month in an effort to ease smaller stores‘ financial burdens, a trade association said Wednesday.The average commission rate will be lowered to 1.5 percent from the current 1.8 percent in September, benefiting some 1.8 million stores, according to the Credit Finance Association. The store figure equates to 74 percent of the 2.42 million card-accepting shops.“The rate cut, applied ahead of the enforcement of the revised Special
Aug. 29, 2012
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Stress of poverty may last a lifetime
The stresses of poverty -- measured via stress hormones -- leads to impaired learning ability in children and may last a lifetime, U.S. researchers say.Clancy Blair of New York University said high levels of stress hormones influence the developing circuitry of children‘s brains, inhibiting such higher cognitive functions such as planning, impulse and emotional control, and attention known as executive function.Poverty stress resulting from crowded conditions, financial worry, a lack of adequate
TechnologyAug. 29, 2012
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Simple test can read your body clock
A simple blood test can reveal the state of a person's body clock and whether they are a night owl or a morning person, Japanese researchers say.Writing in the Proceedings of the National Academy of Sciences, researchers said two blood samples taken 12 hours apart showing the concentration of hormones and amino acids can reveal an individual's personal body time, the Los Angeles Times reported Mo
TechnologyAug. 29, 2012
