Local cable TV system operators on Monday stopped relaying high-definition programs from terrestrial TVs to households nationwide after negotiations over the cost of digital broadcasting retransmissions broke down.They replaced the HD programs with lower-level standard-definition programs, causing i

Nov. 28, 2011

LS Cable & System Ltd., Korea’s leading maker of electrical wiring, said Monday it has established a laboratory for its research and development programs in China.Located in Wuhan in central China, the facility will develop ultra-high-voltage cables and products for special applications including mining and wind turbines, the company said. “We’re planning to set up an institute with secured top-notch, comprehensive R&D capabilities in the global power distribution and communications industry by

IndustryNov. 28, 2011

South Korean stocks closed 2.19 percent higher on Monday as investor sentiment was underpinned by prospects that the International Monetary Fund may consider a bailout for Italy, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index jumped 38.88 points to 1,815.28. Trading volume was moderate at 272.2 million shares worth 4.2 trillion won ($3.63 billion) with gainers outpacing losers 555 to 267.“Speculation about the IMF’s help for Italy l

Nov. 28, 2011

The Financial Supervisory Service has launched a probe into the local brokerage industry to weed out irregularities and prevent financial accidents.The regulator is targeting 62 securities firms and eight futures trading firms, chiefly their internal controlling.The companies have been ordered to submit reports on their operations for internal monitoring by Dec. 10.The irregular practices also include unauthorized insider trading with major shareholders and unfair sales of retirement pension fun

Nov. 28, 2011

Cleary, Gottlieb, Steen & Hamilton LLP, Samsung Life Insurance Co.’s adviser on South Korea’s biggest initial public offering, plans an office in Seoul now that a free trade deal is allowing foreign law firms in. Yong Guk Lee, who will move from Hong Kong to open the new office in the first half of 2012 said it will help the New York- based firm serve Korean clients who are investing and facing more litigation overseas. South Korean lawmakers last week ratified the free trade agreement first neg

IndustryNov. 28, 2011

GUANGZHOU, China (DPA) ― The first Chinese cars built in Europe started rolling off the conveyor belt this year when Great Wall Motor Co. Ltd. built a plant in Bulgaria together with Litex Motors.The Voleex C10 was the first vehicle off the assembly line of the plant near the town of Lovech last week with tests of the production facilities and installations set to continue for the rest of the year before the first sales are launched at the beginning of 2012.The Hover H5 sports utility vehicle an

MobilityNov. 27, 2011

Seoul St. Mary’s hospital is a flagship medical institution of the Catholic Medical Center, which boasts one of the largest medical networks containing eight subsidiary hospitals and seven research centers in Korea. It has 1,320 beds, 43 clinical departments, 756 doctors and 1,700 nurses seeing 6,000 outpatients a day. The hospital is known for its optical, joint and bone marrow transplant surgeries. To enhance patient safety, the hospital has acquired ISO 9001 certification on product safety, a

TechnologyNov. 27, 2011

There is no doubt that Seoul National University Hospital has been a leader here with its top-tier workforce stressing research and development as well as clinical practice. It is now committed to providing world-class medical education, research and patient care. Having led in diagnosis for almost a century, the hospital has stepped up efforts to lead the medical field as well with its cutting-edge equipment and the brand new cancer treatment center next to the main building. With the new build

TechnologyNov. 27, 2011

Medical envoys of Abu Dhabi expressed Friday hope that their government’s pact with Korea on patient referrals and transfers will help improve their country’s infrastructure for better medical healthcare. According to the World Health Organization, the population of the United Arab Emirates reached 4,599,000 in 2009, and is growing 4.1 percent annually. About 78 percent of the population resides in urban areas. The majority of the population is quite young ― 79 percent are aged between 15 and 59

TechnologyNov. 27, 2011

MACAU - China’s superrich want supercars. That’s what the makers of world‘s most exotic and expensive sports cars are hoping as they gather in Macau this week for the first Asian edition of Monaco’s annual Top Marques show that began eight years ago.The supercar companies are chasing growth in China, which is churning out scores of new millionaires each year and is home to the world’s biggest auto market.Ferraris and Lamborghinis sat alongside rare and beautiful automotive works of art from less

MobilityNov. 27, 2011

Half of South Korean manufacturers think that the lingering European financial crisis will hurt their financial health next year in earnest, making it more difficult for them to secure working capital, a survey said Sunday.According to the survey of 300 manufacturing companies by the Korea Chamber of Commerce and Industry, 50 percent said that their financial conditions are expected to be affected by the European debt woes, while only 22 percent responded that they have felt the effect of the fi

Nov. 27, 2011

South Korea’s global competitiveness in the transportation and construction service sectors remains solid despite the recent economic downturn triggered by eurozone woes and sluggish growth among many industrialized economies, a government report showed Sunday.The finance ministry said that in the nine months of this year, the surplus in the transportation industry reached $7.3 billion, up $1.2 billion from the same time period in 2010, in the latest service sector balance sheet report.It said o

Nov. 27, 2011

South Korean shares are expected to move in a tight range this week as fiscal debt problems in Europe and the U.S. will continue to weigh on investor sentiment, analysts said.The benchmark KOSPI closed at 1,776.40, down 3.3 percent last week, marking the fourth consecutive week the index has declined.The index earlier gained ground despite the U.S. Congressional committee’s failure to identify ways to cut the budget deficit as Moody’s Investors Service said it will not downgrade the U.S. soverei

Nov. 27, 2011