Viruses can be tapped for electric power

U.S. researchers say electricity generated by viruses could bring devices that generate power from everyday human activities like walking.A paper-thin "viral" generator embedded in the sole of a shoe could charge a person's phone as they walk, scientists at the Lawrence Berkeley National Laboratory said.The power would be generated by harmless viruses that convert mechanical energy into electricit

TechnologyMay 16, 2012

"Casablanca" turns 70 with free show on Facebook

The stars of much-loved classic film "Casablanca" may always have Paris, but on Wednesday they will have Facebook.The legendary black-and-white film starring Humphrey Bogart and Ingrid Berman will be streamed free at Facebook in the United States to celebrate the release of a 70th anniversary edition by Warner Home Video."Movie fans across the United States are invited to microwave some popcorn an

TechnologyMay 16, 2012

Beijing more strategic in approach than Seoul

China is much more “strategic” than Korea in free trade agreement negotiations, so Seoul should make extra efforts to translate the strategic significance Beijing places on the FTA into economic profit, according to one trade expert. It is difficult to find a shared trait in the countries that have concluded an FTA with China, Jee Man-soo, head of China team at the Korea Institute for International Economic Policy said in a report titled “Korea-China FTA: Strategies and Benefits.” China places g

May 15, 2012

COEX mall to undergo two-year renovation

The Korea International Trade Association said Tuesday that the COEX mall would undergo a large-scale renovation by November 2014, the first since it was established in 2000. Under the new plan, the largest underground shopping mall in Asia is expected to be expanded by 10 percent and have more environmentally friendly, energy-efficient features to reduce energy consumption by 25 percent.Adding to the current 182,675-square-meter mall, the KITA plans to develop a 6,600-square-meter underground a

IndustryMay 15, 2012

Court lets Apple pursue U.S. ban on Galaxy Tab

Apple Inc., maker of the iPhone and iPad, can pursue efforts to halt sales of Samsung Electronics Co.’s Galaxy Tab 10.1 tablet computer in the U.S. while a patent-infringement case is pending, a U.S. appeals court ruled. Apple’s patent on a design of the tablet is likely to withstand validity challenges, so the trial judge should consider if it’s in the public interest to block sales until a trial can be held, the U.S. Court of Appeals for the Federal Circuit ruled today. The court upheld the tr

TechnologyMay 15, 2012

Korea-Danish green growth pact to become legally binding treaty

Korea and Denmark have agreed to make the green growth alliance between the two counties a legally binding treaty as part of efforts to strengthen their partnership in the field, officials said Tuesday. Korea’s Prime Minister Kim Hwang-sik and Danish Crown Prince Frederik held the second meeting of the Korea-Danish Green Growth Alliance at a Seoul hotel on the day. The green growth alliance, launched when President Lee Myung-bak visited Denmark last May, is the first of its kind between two coun

May 15, 2012

LSIS aims to expand presence in global green car market

LS Industrial Systems Co. celebrated the completion of the nation’s first production line dedicated to manufacturing EV Relay, a key component of eco-friendly cars, on Tuesday in Cheongju, North Chungcheong Province. While three companies ― LSIS, Tyco of the U.S. and Panasonic of Japan ― are dominating the global EV Relay market, the Korean firm is aiming to become the top player with the new facility, officials said. EV Relay supplies or cuts battery power to electric cars. Amid a promising out

IndustryMay 15, 2012

Hyundai expands tie-ups with Nordic countries

Starting Norwegian firm, automaker to sign MOUs on green carsHyundai Motor is expanding its business collaboration with Scandinavian countries to boost the carmaker’s supply of environmentally friendly vehicles.Following a pact between Hyundai and the governments of the four countries ― Sweden, Norway, Denmark and Iceland ― in January 2011, the automaker signed a memorandum of understanding with a Norwegian firm on green car supply in Seoul on Tuesday.Under the MOU, Hyundai and Norway-based larg

MobilityMay 15, 2012

Shares drop 0.77 percent on mounting eurozone woes

South Korean stocks sank 0.77 percent on Tuesday due to mounting European fiscal uncertainties that can destabilize the global economy, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI gave up 14.77 points to 1,898.96, extending its losing streak to five sessions. Trading volume was moderate at 510 million shares worth 5.10 trillion won ($4.41 billion), with losers clearly outpacing gainers 616 to 225.“The drop in the bourse is directly linked to growing concern

May 15, 2012

Import price gains hit two-year low in April

South Korea’s import prices rose at their slowest clip in more than two years in April mainly due to a drop in the cost of refined petroleum and nonferrous metal products, the central bank said Tuesday.In local currency terms, import prices gained just 1.7 percent on-year in April, slowing from a 3.5 percent on-year gain in March, according to the Bank of Korea.Last month’s figure marks the lowest on-year gain since March 2010, when import prices contracted 4.3 percent from a year earlier, the c

May 15, 2012

KDB urges parliament to approve state guarantee of its debts

The National Assembly should approve the state guarantee of the Korea Development Bank’s debts in June for the bank’s initial public offering, said Chu Woo-sik, senior deputy president of KDB Financial Group.“If the IPO is not done, the government’s overseas strategies may encounter problems and prices of government bonds or the national credibility could be negatively influenced,” said Chu on Tuesday at a press conference in central Seoul. “As the local law for the privatization of KDB was crea

May 15, 2012

Korea posts trade surplus of $2.12 billion in April

South Korea’s trade balance remained in the black for the third straight month in April despite minus growth in both exports and imports, a customs office report showed Tuesday.According to the report by the Korea Customs Service, South Korea’s trade surplus amounted to $2.12 billion last month, down from a favorable balance of $2.37 billion tallied in March.The monthly figure was slightly smaller than the surplus of $2.15 billion projected by the Ministry of Knowledge Economy for April earlier

May 15, 2012

National Pension to seek larger Chinese investment quota

South Korea’s National Pension Service, the country’s biggest investor, plans to seek approval to buy more yuan-denominated Chinese stocks after using up the initial quota of $100 million it received in March. The $316 billion pension fund plans to use that allotment by September and will pick two managers “soon” to handle the investments, Chairman Jun Kwang-woo said in an interview in Seoul on Monday. The fund also aims to expand investments to Chinese bonds and so-called alternative investment

May 15, 2012

Korea may have to stop Iran oil imports

The Seoul government is bracing for a possible halt in imports of Iranian crude oil following tightened sanctions by the European Union.The EU enacted rules in March to stop insurance coverage on all tankers carrying Iranian crude oil starting July 1 as part of sanctions on the Middle Eastern country to make it give up its nuclear program. The Korean government belatedly found out about the measure and only recently began pushing for negotiations with the EU to extend the insurance coverage.Crud

IndustryMay 15, 2012

Samsung SNS to recruit interns

Samsung Network Services & Solutions, a Korean network systems developer, plans to hire interns by June this year.The company said in a press release on Tuesday that its five divisions including telecom networks, overseas sales and marketing and human resources will accept applicants until May 24 via its homepage.University students in their junior or senior years, or those expected to graduate in February 2014, can apply for Samsung SNS’ internship programs headed by the five divisions. Graduat

TechnologyMay 15, 2012

Hyundai Motor to hire Japanese educated Koreans

Hyundai Motor Co. announced on Tuesday that it will host an academic research forum in Tokyo on June 15 as a way to recruit outstanding Korean talent with an education received in Japan. The country’s leading automaker said that the research forum is organized to boost Hyundai Motor’s global strength. The forum is an exclusive channel to recruit applicants with degrees from Japan, the company said. “We believe that graduate and doctorate students from Japanese universities have strength in both

IndustryMay 15, 2012