Mild dehydration can affect mood, thinking

Even mild dehydration can alter a person's mood, energy level and ability to think clearly, but the effect might be more acute in women, U.S. researchers said.Lawrence E. Armstrong, a professor of physiology at the University of Connecticut, said two studies affirm the importance of staying properly

TechnologyFeb. 21, 2012

Insurers to cut auto insurance premiums

Korean non-life insurers will slash auto insurance premiums starting in April after weeks of discussions with the country’s financial regulator, sources said Tuesday. The insurers will decide on the exact rates for the cut and most likely announce them by the end of this month to take effect for new contracts starting in April. The rate cut will likely be between 2-4 percent, the sources said. Samsung Fire & Marine Insurance Co., the country’s top nonlife insurer and its rival Dongbu Insurance C

Feb. 21, 2012

Most firms eye less than 3% growth

A majority of local businesses expect Korea’s economy to grow at a sluggish pace in 2012 mainly due to weak exports and a drop in consumer demand, a poll showed Monday.The survey of 500 companies by the Korea Chamber of Commerce and Industry showed 58.4 percent of respondents predicting growth of less than 3 percent for this year, a sharp drop from 20.8 percent that forecast such a low GDP number in December.The latest prediction is lower than the 3.8 percent growth tallied for last year and the

IndustryFeb. 21, 2012

Department stores mull hagwon business

Local department stores are considering listing their education centers as private institutions, following a revision to the law on hagwon management last year. Shinsegae Group said Monday that it will revise the corporate purposes of Shinsegae Department Store and E-Mart to include its hagwon business during a shareholders’ meeting scheduled on March 2. Other major companies, such as Lotte and Hyundai department stores, also plan to continue similar discussions in the two-year grace period allo

IndustryFeb. 20, 2012

Private sector R&D to surpass record W41tr

Korea’s private sector research and development spending is expected to surpass the 41 trillion won ($36.4 billion) mark for the first time ever, a report by a local industrial association said Monday.The Korea Industrial Technology Association report based on a poll conducted on 607 companies engaged in R&D work showed spending likely to go up 8.4 percent on-year to 41.05 trillion won.Of the total to be spent, money earmarked by large conglomerates is expected to rise 8.9 percent compared to th

Feb. 20, 2012

Gap on education spending widens

The gap between the wealthy and the poor in Korea is widening further in education, a report showed Monday. According to the report entitled “Social Indicator Trends in Korea” issued by the Bank of Korea, those at the upper level in terms of annual income tend to spend more on their children’s education, which better ensures their success in society. Low-income earners, in contrast, do not have any extra money to invest in their children’s education, with their education-related budget stuck at

Feb. 20, 2012

Samsung Electronics confirms spin-off of display unit

Industry sources say merger of the company’s display unit, Samsung Mobile Display soon to take placeSamsung Electronics on Monday announced the establishment of a new firm tentatively called Samsung Display Co. by April 1 through the spin-off of its liquid-crystal display unit.The world’s biggest TV maker said initial funding of 750 billion won ($668.5 million) and 150 million new shares will be issued for the launching of Samsung’s new display company following a board meeting earlier on Monday

IndustryFeb. 20, 2012

‘Samsung Electronics most admired firm’

Korea’s tech giant Samsung Electronics Co. topped the list of the most admired companies in the country, marking the ninth consecutive year it has clinched the top spot, a survey showed Monday.The company ranked first, followed by leading steelmaker POSCO and Yuhan Kimberly Co., the country’s largest maker of diapers and feminine hygiene products, according to a poll by the Korean Management Association Consulting. Samsung Electronics has kept its top spot since 2004, when the consulting, certif

IndustryFeb. 20, 2012

Task force to look into welfare plans touted by political parties

The government has launched a task force to study the feasibility of a recent spate of welfare proposals floated by politicians amid worries that many of them are just intended to woo voters ahead of major elections.Korea is to hold parliamentary and presidential elections in April and December. Political parties are rushing to unveil welfare programs and campaign pledges, many of which policymakers see as “populist” and fiscally “unsustainable.”“From the perspective of fiscal authorities, it is

Feb. 20, 2012

Seoul shares end marginally higher on China’s reserve easing

South Korean stocks finished slightly higher on Monday as China’s reserve ratio cut boosted investor sentiment, analysts said, but financial firms’ losses trimmed overall gains. The local currency rose against the greenback.After rising as much as 1.18 percent, the benchmark KOSPI added 0.07 percent, or 1.43 points, to end at 2,024.9. Trading volume was heavy at 723 million shares worth 5.96 trillion won ($5.29 billion) with gainers leading losers 464 to 372.In the early morning, the KOSPI got a

Feb. 20, 2012

Brokerages’ Q3 earnings up 15 percent

Securities companies operating in Korea saw their earnings for the fiscal third-quarter rise 15 percent from three months earlier thanks to a recovery in the local stock market, the financial watchdog said Monday.The combined net profit of 62 local and foreign securities firms operating here came to 514.3 billion won ($458.7 million) in the October-December period, compared with 447.4 billion won in the previous quarter, according to the Financial Supervisory Service. The tallied brokerages clos

Feb. 20, 2012

Shinhan BNP Paribas Asset gets investor status in China

HONG KONG (Yonhap News) ― A joint venture asset manager between Korea’s No. 2 financial services firm Shinhan Financial Group Co. and global banking group BNP Paribas SA. has received qualified investor status from Chinese authorities, opening the door for its investment in Chinese stock markets, a government document showed Monday.Shinhan BNP Paribas Asset Management Co. received the status of “qualified foreign institutional investor” from the China Securities Regulatory Commission, according

Feb. 20, 2012