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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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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How $70 funeral wreaths became symbol of protest in S. Korea
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Seoul's first snowfall could hit hard, warns weather agency
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Why cynical, 'memeified' makeovers of kids' characters are so appealing
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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BOK makes surprise rate cut to lift growth
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Chinese vice premier vows support for Hyundai Motor operations
Chinese Vice Premier Wang Qishan promised to provide support to Hyundai Motor when he met with group chairman Chung Mong-koo on Thursday, company officials said. The Chinese leader had a meeting with chairman Chung at the Hyundai Pavilion at the Expo 2012 Yeosu. The Chinese official visited the Expo site to celebrate the Chinese national day, 48 days after the exposition opened.“As this year marks the 20th anniversary of the diplomatic relations between China and Korea, we expect Hyundai Motor G
June 28, 2012
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Newly acquired LG unit to develop next-generation fuel cell technology
LG Group announced Thursday that it will jump into the fuel cell technology business, which it considers to be the next-generation energy source.The conglomerate said that it invested a total of $45 million to acquire a 51 percent stake in an affiliate of Rolls-Royce Fuel Cell Systems, a firm that has been key for fuel cell development.With its majority stake in the Ohio-based firm, it will be newly named LG Fuel Cell Systems and it will target commercializing its own fuel cell technology for po
TechnologyJune 28, 2012
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Korean technology firms to use Olympics to promote products
Korea’s representative technology firms such as Samsung and LG Electronics are eager to use the upcoming London Olympics opening on July 27 as a chance to showcase their tech prowess.LG Electronics said Thursday that it will provide a live broadcast as well as the highlights of the Summer Olympic Games throughout the event when consumers of its Cinema 3-D Smart televisions get connected through a TV app. The London Olympics ends on Aug. 12.“Not only will people be able to see the Games live in 3
IndustryJune 28, 2012
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LG Display seeks shared growth with five suppliers
LG Display, Korea’s display manufacturing giant, said Thursday that it has expanded partnerships with its five suppliers to further share profit and technical know-how in line with the country’s move to promote shared growth.The five subcontractors LG Display has sought to boost benefit-sharing with are Exax, a chemical and electronics materials maker; Heesung Metal, a metal and materials company; Glonix, a display glass materials maker; Dong Yang Industrial, a plastic materials maker; and Oh Su
TechnologyJune 28, 2012
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Current account surplus hits 6-month high in May
South Korea’s current account surplus hit a six-month high in May due mainly to a fall in dividend payouts to foreign investors, the central bank said Thursday.The current account surplus reached $3.61 billion in May, up from a revised $1.73 billion the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The May data marked the largest surplus since the $4.56 billion in November 2011 and the current account remained in the black for t
June 28, 2012
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Seoul to offer incentives to banks to raise foreign currency savings
The government will provide incentives to banks that expand foreign currency deposits in a bid to reduce damage from possible capital flights in case of financial market instability, the Bank of Korea said Thursday.Korean banks and local branches of foreign banks held $37.3 billion in foreign currency savings, or about three percent of total deposits, as of April. The proportion is much lower compared to Taiwan (10 percent) which has a similar economic structure.For companies and individuals in
June 28, 2012
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SKT wins award for innovative femtocell
SK Telecom, Korea’s largest mobile carrier, won recognition at a ceremony held in London Wednesday for having and commercializing femtocell technology and services.At the Small Cell Industry Awards hosted by the Small Cell Forum, SK Telecom received an innovative award for its femtocell, which allows mobile phone users to remain connected in small and limited spaces via broadband networks.SK Telecom’s partners Contela, a Korean wireless solution firm, and Mindspeed Technologies, a U.S.-based sem
TechnologyJune 28, 2012
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Banks to run pre-debt workouts for potential credit delinquents
The nation’s financial watchdog plans to have banks run pre-workout programs to help out potential credit delinquents. The Financial Supervisory Service announced on Thursday it recently discussed with local bankers in charge of loans running a joint pre-workout program with local banks. The key is to lower loan rates depending on the debtor’s ability to repay and enable them to pay back the principal through divided payments during a long-term period, FSS officials said. The plan will focus on
June 28, 2012
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Shares end almost flat despite upbeat U.S. data
Korean stocks closed almost unchanged Thursday as nagging eurozone concerns offset improved U.S. economic data, analysts said. The local currency rose against the U.S. dollar.The Korea Composite Stock Price Index gained 1.53 points, or 0.08 percent, to finish at 1,819.18. Trading volume was light at 305 million shares worth 3.10 trillion won ($2.68 billion) with losers just outpacing gainers 398 to 383.“Investors sat on the sidelines amid a lack of upward momentum,” said Kim Joo-young, an analys
June 28, 2012
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The subtle art of brand management
When we examine the original meaning behind the term “brand,” it often refers to a company’s collective efforts in distinguishing a new product from its competitors, via methods such as naming, symbolism and design. But its use nowadays is not limited solely to the business world. Rather, it’s become a catchphrase, used in all walks of society. A local university in Seoul, for example, has adopted a motto which roughly translates to, “A factory where I can develop my brand.” The term is used dur
June 28, 2012
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Prudential Life Insurance cherishes trust
Prudential Life Insurance Co. of Korea’s vision is “to become the most trusted company.” The insurer values honesty and ethics above size or profit. Behind the ideal to become the most trusted life insurance company is Prudential’s philosophy “the man of brotherhood and love of family,” and the mission “to help customers achieve financial prosperity and peace of mind.” Since its establishment in Korea in 1989, Prudential Life Insurance has accomplished many firsts for the Korean life insurance i
June 28, 2012
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Singapore Airlines: Innovation trendsetter
Winning the most airline industry awards worldwide, Singapore Airlines’ reputation as the industry trendsetter and innovative market leader is built on firm ground. Besides global master chefs’ selection of gourmet in-flight meals, the company offers business applications, enabling passengers to do office work on board ― even without a laptop ― by accessing files from a USB flash drive and using a remote control equipped with a QWERTY keyboard.Singapore Airlines boasts high efficiency and safety
June 28, 2012
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KB’s GOLD&WISE remains leader in private banking
KB Kookmin Bank’s private banking brand GOLD&WISE has been a market leader ever since it was launched 10 years ago based on the principles of trust, professionalism and the clients’ interest.With the nation’s largest private banking sales network and client base, GOLD&WISE has shown exceptional private banking products, risk management systems, private banking expertise and advisory and marketing service. Using the vast network of KB Financial Group, it has strengthened product support, expanded
IndustryJune 28, 2012
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Samsung’s Galaxy S2 readies for 30m sales mark
Samsung Electronics’ Galaxy S2, which served as its flagship smartphone until the release of Galaxy S3, is getting ready to hit the 30-million mark in total sales worldwide.The world’s top smartphone maker said recently that it sold more than 28 million units of the Galaxy S2, surpassing its former model Galaxy S’ 24 million units.“The two figures put together ― about 50 million units ― is twice the size of last year’s smartphone market in the country,” said a Samsung official.Since rolling out
IndustryJune 28, 2012
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Truly good bank: IBK upholds slogan with community activities
As the top commercial bank for small and mid-sized businesses in Korea, IBK operates under the slogan “a truly good bank,” and has especially sought in recent years to uphold this motto via activities that give back to the community. According to the company’s latest annual report, IBK used over 6 percent of its net income for social contribution activities in 2011, and even received a presidential commendation from the Korean government last year in recognition of these efforts. The bank, which
June 28, 2012
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Video imaging test fees to go down
Starting July 15, fees for examinations using video imaging equipment at hospitals and clinics will go down, the Ministry of Health and Welfare said Tuesday. A panel of governmental officials, doctors, hospital management, medical system experts as well as patients has agreed to a 15.5 percent cut in the fee for CT use, 24 percent for MRI and 10.7 percent for PET.The discount will save about 111 billion won ($96 million) from the national health insurance coffers, Park Min-soo, a ministry offici
TechnologyJune 28, 2012
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Samsung to add global touch to patient meals
Samsung Medical Center on Wednesday released its menu for foreign patients in four different languages and introduced its 40 different diet menus for patients from all over the world. The menu offerings are published in English, Mongolian, Arabic and Russian. The cuisine includes contemporary Western, Russian, Mongolian, Arabic, Thai, Greek and others. “We will be able to provide foods outside the menu upon patients’ request,” said Cho Yeong-yeon, head nutritionist at the hospital. (baejisook@he
TechnologyJune 28, 2012
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LG’s ‘Gemiglo’ wins KFDA approval
The Korea Food and Drug Administration said Wednesday that it has approved the manufacture and distribution of LG Life Sciences’ diabetes treatment, Gemiglo.Gemiglo, the main substance of which is gemigliptin, is the 19th new drug developed by a domestic pharmaceutical company and fifth new diabetes treatment in the world. According to the developer, Gemiglo is effective on type-2 diabetes patients, who have a high blood sugar level though their insulin secretion is working. By its use patients
TechnologyJune 28, 2012
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Know your BMI: Docs urged to screen for obesity
WASHINGTON (AP) ― Chances are you know your blood pressure. What about your BMI?Body mass index signals if you’re overweight, obese or just right considering your height. Some doctors have begun calling it a vital sign, as crucial to monitor as blood pressure.But apparently not enough doctors check: A government panel renewed a call Monday for every adult to be screened for obesity during checkups, suggesting more physicians should be routinely calculating their patients’ BMIs.And when someone c
TechnologyJune 28, 2012
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Heatstroke and heat exhaustion
The summer heat often leads to changes in lifestyle patterns. During the daytime, people may sink into a state of torpor and at night, people may experience difficulties going to sleep.People who work in an environment with strong air-conditioning may also suffer various symptoms because of the drastic difference between the outdoor and indoor temperatures. In the summer, it is also easy for food to spoil and the conditions are ideal for microbial growth. Therefore, people are more likely to suf
TechnologyJune 28, 2012
