National pension fund to expand investment in overseas assets: chief

Korea’s national pension fund plans to boost its investment in overseas assets in a bid to expand and diversify its portfolio, the service’s chief said Monday.Jun Kwang-woo, the chairman of National Pension Service said that he plans to increase the fund’s offshore assets in such areas as real estate and equities as part of this year’s broader investment strategy.“We have secured more than 350 trillion won ($304.7 billion) in pension fund reserves despite unfavorable overall economic conditions,

Jan. 16, 2012

Incheon stadium designed to turn into park after Asian Games

The Incheon main stadium being built for the 2014 Asian Games will be transformed into a public park after the sports festival, demonstrating a sustainable design in stadiums in Asia, the architecture firm that designed it has said.“I see these sad, empty steel and concrete giant structures. They’re not eyesores because they are like sculptures, but there’s an emotional sadness attached to an empty stadium because you’re always on the outside, never on the inside where the energy is,” said Andre

Jan. 16, 2012

Lessons for entrepreneurs to flourish

Except for some conglomerates, most companies are bracing for the prolonged global economic slump with plans to downsize or delay investment and recruitment, or to promote managerial efficiency. But a corporate management expert says opportunities for entrepreneurs do not disappear even during an economic crisis.“It’s not that people don’t need TVs anymore, it’s that they don’t need expensive TVs, for example,” said professor Pablo de Holan, IE Business School chair of the Entrepreneurship Manag

Jan. 16, 2012

2012 big year for Korea-U.S. business

AMCHAM chief says delegations from 22 U.S. states will visit Korea for tradeWith the Korea-U.S. free trade agreement to take effect soon, the American Chamber of Commerce in Korea is gearing up for a busy year promoting the trade pact.High on the list are visits by delegations from 22 U.S. states looking to find partnerships and gain a better understanding of the trade deal.“The federal government gave grants to increase exports. Twenty-two states are coming to Korea, that shows how important th

Jan. 16, 2012

Arcamone of GM Korea to head Canadian aircraft manufacturer

Mike Arcamone, who recently resigned as chief of GM Korea, is moving to Canada as the new president of Bombardier Commercial Aircraft, the Toronto-based airliner said Monday.The news comes after GM Korea confirmed Arcamone’s abrupt resignation Friday. Arcamone has been with General Motors since 1980 and was recognized for his leadership in launching the Chevrolet brand in Korea last year. The carmaker temporarily replaced Arcamone with John Buttermore, GM International Operations vice president.

IndustryJan. 16, 2012

India reports new TB strain resistant to all drugs

Indian doctors have reported the country's first cases of ``totally drug-resistant tuberculosis,'' a long-feared and virtually untreatable form of the killer lung disease. (MCT)It's not the first time highly resistant cases like this have been seen. Since 2003, patients have been documented in Italy

TechnologyJan. 16, 2012

Cable operators stop airing KBS2 TV

Cable TV operators stopped airing programs by KBS 2TV nationwide at 3 p.m. on Monday as they failed to reach an agreement on retransmission fees with the nation’s three terrestrial broadcasters MBC, KBS and SBS. (Yonhap News)An emergency council of some 94 cable stations originally threatened to hal

TechnologyJan. 16, 2012

Australia experts call for energy drink warnings

SYDNEY, Jan 16, 2012 (AFP) - Researchers in Australia on Monday called for health warnings on caffeine-loaded energy drinks following a spike in the number of people reporting medical problems after drinking them.Health professionals from the University of Sydney's Medical School and the New South W

TechnologyJan. 16, 2012

Why faces of primates differ dramatically from one another?

A new study gave evolutionary clues to the question of why the faces of primates so dramatically different from one another. UCLA biologists working as "evolutionary detectives" studied the faces of 129 adult male primates from Central and South America. Credit: Stephen Nash"If you look at New World

TechnologyJan. 16, 2012

Scientists identify receptor for tasting fat

(MCT)A new study for the first time identified a human receptor tasting fat, suggesting that some people may be more sensitive to the presence of fat in foods.The study conducted by researchers at Washington University School of Medicine in St. Louis was published online in the Journal of Lipid Rese

TechnologyJan. 16, 2012

Looming Iranian oil embargo spooks refiners

U.S. delegation coming to Seoul to discuss sanctions against TehranKorean oil refiners are bracing themselves for a possible ban or reduction of oil imports from Iran as the U.S. urges countries to join sanctions on the Middle Eastern country.A partial halt in oil supply from Iran, which accounts for 9 percent of the world’s crude oil production, would prompt countries to compete for alternative sources of crude oil, resulting in higher prices. Higher oil prices will dampen the profitability of

IndustryJan. 15, 2012