GS Caltex finishes polymer plant in China

GS Caltex Co., South Korea’s second-largest refiner, said Thursday that it has completed a polymer compound plant in eastern China that will help the company further tap into the world’s second-largest economy.The plant, located in Suzhou, Jiangsu Province, has begun commercial operations with an annual output of 37,000 tons of polymer compounds, the company said. Polymer compounds are functional plastics widely used for making cars and home appliances.GS Caltex said that global manufacturing fi

IndustryOct. 27, 2011

Moody’s keeps ‘A1’ sovereign rating for Korea: official

Moody’s Investors Service reaffirmed its “A1” sovereign rating with stable outlook for Korea, citing the nation’s strong fiscal status and ample foreign exchange reserves, a Finance Ministry official said Thursday. The rating agency is said to have assessed the strength of the economy by sending a delegation to the Finance Ministry and Financial Supervisory Services earlier this year, where it decided to maintain its fifth-highest rating for Asia’s fourth largest economy.“In accordance to its re

Oct. 27, 2011

Software development plan unveiled

The government announced Thursday that it will build the country’s first meister high school specializing in software and create a software bank as part of its efforts to boost the nation’s competitiveness in the software industry.In a meeting chaired by President Lee Myung-bak, the Ministry of Knowledge Economy unveiled its plan, divided into 11 policy tasks, to establish an ecosystem for the software industry.The announcement takes place after global players like Apple and Google Inc. have bee

IndustryOct. 27, 2011

Thai flood impact on air travel limited

Thailand’s flood crisis deepened this week as floodwaters advanced into Bangkok, forcing authorities to shut down the capital city’s second-largest airport, but its impact on Korean travelers will likely remain limited, airline officials said Thursday.Major Korean carriers have not seen delays or cancellations of flights due to floods and have not experienced noticeable drops in occupancy rates, officials said, although they have been closely following the Southeast Asian country’s worst natural

IndustryOct. 27, 2011

Hyundai Motor’s Q3 net profit jumps 21%

Hyundai Motor Co., the world’s fifth-largest carmaker by sales, posted a 21 percent jump in net profit in the third quarter Thursday.The figure was in line with the market consensus on continued popularity of its sedans and SUVs in China, the U.S. and Europe. The company reported 1.92 trillion won ($1.7 billion) of net income for the June-September period, up from 1.59 trillion won a year earlier.The result is expected to cap the company’s most profitable year and beat sales of its rival firm To

Oct. 27, 2011

Ministry selects 99 specialized hospitals

The Ministry of Health and Welfare designated 99 hospitals as “specialized hospitals” guaranteed by the government. The selected hospitals deal with the areas of joints, cardiovascular, colorectal, cardiac, alcoholism, breast, gynecology, rehabilitation, orthopedic, stroke and replants. Such hospitals will be able to promote themselves as specialized hospitals for three years. It is illegal for other institutions to claim to specialize in these areas. The designation will be reviewed once more f

TechnologyOct. 27, 2011

St. Mary’s opens pulmonary hypertension center

The Seoul St. Mary’s Hospital opened a pulmonary hypertension center last week. According to the Mayo Clinic, pulmonary hypertension is a type of high blood pressure that affects only the arteries in the lungs and the right side of your heart. It is considered a serious illness that deteriorates progressively and is sometimes fatal. “But pulmonary hypertension has become controllable thanks to new drugs and treatments introduced every year. What we need is a close watch and consultation,” the ho

TechnologyOct. 27, 2011

Talk of ban on mercury concerns scientists

LONDON (AP) ― Scientists are warning officials negotiating a global treaty on mercury that banning the deadly chemical completely would be dangerous for public health because of the chemical’s use in vaccines.The ban option is one of several proposals on the table for a meeting later this month in Nairobi, but a final treaty isn’t expected until 2013.According to the World Health Organization, mercury is one of the top 10 chemicals of public health concern and is highly toxic. Most of the worry

TechnologyOct. 27, 2011

Local, organic foods not always safer

WASHINGTON (AP) ― Shoppers nervous about foodborne illnesses may turn to foods produced at smaller farms or labeled “local,” “organic” or “natural” in the hopes that such products are safer. But a small outbreak of salmonella in organic eggs from Minnesota shows that no food is immune to contamination.While sales for food produced on smaller operations have exploded, partially fueled by a consumer backlash to food produced by larger companies, a new set of food safety challenges has emerged. And

TechnologyOct. 27, 2011

Largest study finds no link between cellphones, cancer

LONDON (AP) ― Danish researchers can offer some reassurance if you’re concerned about your cellphone: Don’t worry. Your device is probably safe.The biggest study ever to examine the possible connection between cellphones and cancer found no evidence of any link, suggesting that billions of people who are rarely more than a few inches from their phones have no special health concerns.The Danish study of more than 350,000 people concluded there was no difference in cancer rates between people who

TechnologyOct. 27, 2011

Writer Isaacson on Steve Jobs: 'I just listened'

NEW YORK (AP) — Steve Jobs told Walter Isaacson he wanted him to write his biography because he's good at getting people to talk. Jobs, it turns out, didn't need much prodding, secretive as he was about both his private life and the company he founded."I just listened," said Isaacson, whose bo

IndustryOct. 27, 2011

YouTube making deals for original content: WSJ

NEW YORK, Oct 26, 2011 (AFP) - YouTube is teaming up with media companies to produce original content in its latest bid to boost the amount of professional material on the video-sharing site, The Wall Street Journal reported Wednesday.The newspaper said Google-owned YouTube is expected to announce a

TechnologyOct. 27, 2011

Secrets of long life sought in DNA of the elderly

NEW YORK (AP) _ George Eberhardt turned 107 last month, and scientists would love to know how he and other older folks like him made it that far. So he's going to hand over some of his DNA.He's one of 100 centenarians taking part in a project announced Wednesday that will examine some of the oldest

TechnologyOct. 27, 2011

S. Korean consumer sentiment rebounds in Oct.

SEOUL, Oct. 27 (Yonhap) -- South Korea's consumer confidence bounced back in October after staying below par for the last two months, the central bank said Thursday.The consumer sentiment index (CSI) -- a gauge of consumers' overall economic outlook, living conditions and future spending -- stood at

Oct. 27, 2011