The Korea Herald

Shares end 2.08% lower on eurozone debt fears

South Korean stocks closed 2.08 percent lower on Thursday as foreign investors dumped local stocks on nagging concerns about Europe’s debt crisis, analysts said. The local currency fell against the U.S. dollar for the sixth straight session.The benchmark KOSPI trimmed 38.64 points to 1,819.11. Trading volume was moderate at 402.3 million shares worth 5.31 trillion won ($4.57 billion), with losers outpacing gainers 658 to 178.“Contagion fears about Europe’s debt crisis gripped investor sentiment.

Dec. 15, 2011

Koreans’ ability to repay debt falls to new low

South Koreans’ capacity to repay debt worsened to the lowest level in more than two years in the third quarter as falling share prices cut the value of their assets amid growing debt, the central bank said Thursday.The ratio of financial assets held by households and nonprofit organizations to debt, a gauge of their capacity to redeem debt, came in at 2.07 as of the end of the third quarter, down from 2.15 in the second quarter, according to the Bank of Korea.The third-quarter data marked the lo

Dec. 15, 2011

Household loans by non-bank financial firms close to 300 trillion won

Korea’s non-bank financial firms rapidly increased their share in the household loan market, seeing their combined total reach nearly 300 trillion won ($259 billion) and even outpacing banks, data showed on Thursday. The non-bank financial companies refer to savings banks, credit card operators, and insurance firms, and their household loan expansion in recent months is viewed by authorities as an additional risk factor to the country’s broader household debt situation. The size of non-bank fina

Dec. 15, 2011

Ethiopian Air joins Star Alliance

Ethiopian Airlines has become the latest member of the Star Alliance, the world’s largest airline coalition, Asiana Airlines said Wednesday.Founded in 1945, Ethiopian Airlines is one of the fastest-growing carriers in the region. Sales neared $1.3 billion last year, serving 3.2 million passengers.The African country’s standard bearer flies to 62 international and 17 domestic destinations, connecting the continent’s East to West. It has a fleet of 48 passenger and cargo aircraft and another 35 on

IndustryDec. 15, 2011

Lone Star papers out after 8 years

FSC follows court’s ruling to publicize U.S. fund’s eligibilityThe Financial Services Commission has made public its records on Lone Star Funds from the eight years since the regulator approved the fund’s takeover of Korea Exchange Bank in 2003.On Thursday, the FSC sent related documents on Lone Star to the civic group Solidarity for Economic Reform.The documents involve the regulator’s ruling as to whether the U.S.-based fund was eligible to own KEB between September 2003 and June 2006.After a

Dec. 15, 2011

Turkey to feature rich culture, art ...at Yeosu Expo

Turkish Embassy said on Thursday it would showcase its cultural tradition as well as other rich aspects of the country at the forthcoming 2012 Yeosu Expo. At a press conference, Turkish Ambassador Naci Saribas outlined the plan for the expo aimed at allowing international visitors to experience aspects of Turkey including arts, culture and cuisine. Under the theme of “Land of Civilization, Connecting Seas and Continents,” the Turkey pavilion is set to highlight Turkey’s food, choreography, arts,

IndustryDec. 15, 2011

Turkey to feature rich culture, art ...at Yeosu Expo

Province promotes ‘bokbunja’

North Jeolla Province is striving to promote food and beverages made with “bokbunja,” a wild blackberry indigenous to the region, to carve out a niche market and boost the local economy.Bokbunja has for decades been widely consumed by Koreans due to its antioxidant, anticancer and beauty effects.The wild fruit has been an economic driver for the region since residents started cultivating it on their farms in the late 1980s. Three adjacent counties ― Gochang, some 296 kilometers south of Seoul, S

IndustryDec. 15, 2011

KDB targets world’s top 20 by 2020

State-run financial group completes acquisition of RBS Uz under global expansion strategyKorea Development Bank has set the goal of becoming one of the top 20 banks in Asia by 2015 and entering the top 20 in the world by 2020, executives said Thursday.The bank’s parent KDB Financial Group completed its takeover of the Royal Bank of Scotland Uzbekistan, or RBS Uz, in November after signing a contract in December 2010.KDB Financial Group chairman Kang Man-soo, who participated in an event to celeb

Dec. 15, 2011

KT chairman expected to serve another term

Committee to make final decision next month after reviewing his performanceKT chairman Lee Suk-chae is widely expected to extend his tenure as CEO at the nation’s largest fixed-line carrier, industry sources said Thursday.KT decided to form a committee to name a new CEO during a board members’ meeting Tuesday as Lee’s official term of three years expires early next year.Lee could serve a second term, sources said, considering the company’s strong performance under his leadership, especially as

IndustryDec. 15, 2011

KT chairman expected to serve another term

President calls for front-loaded spending preparations for 2012 budget

South Korean President Lee Myung-bak called on the government Thursday to prepare for front-loaded spending of next year's budget to help the country overcome both domestic and foreign economic challenges.He said after receiving a policy report from the Fair Trade Commission that every effort must b

Dec. 15, 2011

Arthritis tied to cardiovascular deaths

About 40 percent of rheumatoid patients are likely to die of cardiovascular disease, a group of doctors claimed here Tuesday. They called for higher public awareness of rheumatoid arthritis and other disorders conventionally referred to as rheumatism here. According to Dr. Bae Sang-cheol and Dr. Choi Chan-beom’s joint study of 4,721 rheumatoid arthritis patients, about 25 percent suffered from various cardiovascular diseases. About 15 percent had diabetes or other endocrine system disorders and

TechnologyDec. 15, 2011

Lactobacillus effective against atopic eczema

Lactobacillus has been proven effective in easing atopic eczema, osteoporosis, diabetes symptoms and irritable bowel syndrome. According to eight-week research by professor Choi Chang-hwan of Chung-Ang University Medical Center, IBS patients given Duolac7, an agent containing lactobacillus, showed 50 percent improvement compared to those given placebo’s 13 percent improvement.In other research by Dr. Lee Hyun-ki of Cell Biotech, the manufacturer of Duolac7, those given calcium and lactobacillus

TechnologyDec. 15, 2011

Tiniest babies are growing up healthy despite odds

CHICAGO (AP) ― One is a healthy first-grader, the other an honors college student majoring in psychology. Once the tiniest babies ever born, both girls are thriving, despite long odds when they entered the world weighing less than a pound.A medical report from the doctor who resuscitated the infants at a suburban Chicago hospital is both a success story and a cautionary tale. These two are the exceptions and their remarkable health years later should not raise false hope: Most babies this small

TechnologyDec. 15, 2011

Tiniest babies are growing up healthy despite odds

ADHD drugs safe for adults’ hearts, research finds

CHICAGO (AP) ― Ritalin and other drugs used to treat attention deficit disorder are safe for adults’ hearts, even though they can increase blood pressure and heart rate, according to the largest study of these medicines in adults.The results echo findings in a study of children with ADHD, by the same researchers, published last month.The review of health records for more than 440,000 adults aged 25 to 64 showed those taking ADHD drugs had about the same number of heart attacks, strokes and sudde

TechnologyDec. 15, 2011

Tourettes and other tic disorders

Stress is believed to be the most probable aggravating factor of tics. Most tics go away as children become older. However, complex tics that lead to strong discomfort, physical damage, and functional disorders require close consultation with specialists. Children affected by chronic tic disorders or Tourette’s Disorder, with motor tics or vocal tics that persist for more than a year, must seek psychiatric help.Signs and symptomsA tic is an involuntary, recurrent and sudden movement of a part of

TechnologyDec. 15, 2011

Study finds skin cancer link to smoking

Female smokers four times more likely to get form of non-melanoma tumorsThere are scores of reasons not to smoke, and a recent study has added one more: it may cause skin cancer.Dr. Dana Rollison of the Moffitt Cancer Center recruited 698 participants ― 383 diagnosed with basal cell carcinoma or squamous cell carcinoma, both skin cancers, and 315 with no history of skin cancer. The researchers found smoking was associated with non-melanoma skin cancer overall and that the risk increased with

TechnologyDec. 15, 2011

Lone Star documents disclosed in 8 years

FSC follows court’s ruling to publicize U.S. fund’s eligibilityThe Financial Services Commission has made public its records on Lone Star Funds in the eight years since the regulator approved the fund’s takeover of Korea Exchange Bank in 2003.On Thursday, the FSC sent related documents on Lone Star to the civic group Solidarity for Economic Reform.The documents involve the regulator’s ruling as to whether the U.S.-based fund was eligible to own KEB between September 2003 and June 2006.After a fo

Dec. 15, 2011

Lone Star documents disclosed in 8 years

FSC follows court’s ruling to publicize U.S. fund’s eligibilityThe Financial Services Commission has made public its records on Lone Star Funds in the eight years since the regulator approved the fund’s takeover of Korea Exchange Bank in 2003.On Thursday, the FSC sent related documents on Lone Star

Dec. 15, 2011

Hyundai Motor Group set to outshine Samsung Group in 2011 earnings

South Korea's top automotive group Hyundai Motor Group is expected to post bigger earnings this year than Samsung Group, the country's biggest family-controlled conglomerate, data showed Thursday.The combined earnings of Hyundai Motor Group's eight listed affiliates are projected to reach 18.05 tril

IndustryDec. 15, 2011

Lotte inks MOU with L.A. on film tie-up

Lotte Group, one of the country’s largest conglomerates, signed a deal with the City of Los Angeles on Wednesday for economic and cultural cooperation in the film industry, company officials said. Under the MOU between the group’s chairman Shin Dong-bin and Los Angeles Mayor Antonio Villaraigosa, the U.S. city will support Lotte Group’s affiliate, Lotte Cinema, to launch its first office in the city. The city of Los Angeles will also help Lotte Cinema find and set up connections within the Holly

IndustryDec. 14, 2011