Disney CEO Iger renewed through March 2015

LOS ANGELES (AP) -- Disney CEO Robert Iger will remain in his job through March 2015 and then serve as executive chairman for another 15 months to help break in a new chief executive, the company said Friday.The definite end to what will be a decade-long tenure suggests the eventual promotion of one

Oct. 9, 2011

Merkel spells out how to bolster European banks

German Chancellor Merkel spells out how to bolster European banks amid the bloc’s debt crisis BERLIN (AP) -- German Chancellor Angela Merkel said Europe’s banks should look first to raise money in the private sector before turning to governments to bolster their financial cushions against potential

Oct. 9, 2011

With smartphones, ordinary people can turn mundane life into cinema

BUSAN (Yonhap News) - Ordinary people presented iPhone-made shorts on the sidelines of the Busan International Film Festival over the weekend, demonstrating even a 12-year-old can venture into movie-making as the high-tech handset lowers the threshold. Despite featuring no film luminaries and drawin

TechnologyOct. 9, 2011

Fitch cuts Italy, Spain ratings over euro crisis

(AFP) -- Fitch cut its credit ratings on Italy and Spain Friday, citing the increasing pressure on them as the eurozone debt crisis makes efforts to stabilise their public finances even more difficult.The eurozone debt crisis has seen Greece, Ireland and Portugal all bailed out by the EU and Interna

Oct. 8, 2011

Nonghyup spurns 4 trillion won support package proposal

SEOUL, Oct. 7 (Yonhap) -- The National Agricultural Cooperative Federation (NACF) on Friday said that it cannot accept a 4 trillion won (US$3.39 billion) support package proposal by the government, claiming that more money is necessary for the reform of the cooperative entity.Last month, the governm

Oct. 7, 2011

Samsung, Micron to develop technique for high-performance memory chips

SEOUL, Oct. 7 (Yonhap) -- Samsung Electronics Co., the world's largest memory chipmaker, said Friday that it is teaming up with Micron Technology Inc. of the U.S. to develop technology to produce a high-performance memory chip.Samsung has formed a consortium with Micron Technology, the U.S.'s larges

TechnologyOct. 7, 2011

Samsung profit beats forecasts

Company expects third-quarter profit at $3.5 billion, 12% up from second quarterSamsung Electronics on Friday expected its quarterly profit to exceed market forecasts on the back of brisk smartphone sales and a weak local currency. The world’s largest technology company said in a statement that prof

IndustryOct. 7, 2011

Korea’s CDS premium jumps most in 32 months

The cost of insuring South Korea’s sovereign debt against default climbed the most in 32 months, growing two times faster than that of eurozone countries, data showed Friday.The credit default swap premium on South Korea’s foreign currency bonds with five-year maturities reached 220 basis points as

Oct. 7, 2011

BOK head cuts economic growth forecast up to 2012

The South Korean economy is likely to grow at a slower pace than the central bank’s earlier forecast of 4.3 percent this year amid dimmer global economic outlooks, its chief said Friday.“The growth of the South Korean economy is expected to be lower than 4.3 percent this year, but it will be higher

Oct. 7, 2011

IAEA workshop to discuss promotion of nuke power

The International Atomic Energy Agency’s workshop regarding public information on introducing new nuclear power plants will kick off in Seoul on Monday.The workshop organized by the Korea Nuclear Energy Promotion Agency will be held at Lotte Hotel World in Jamsil, southeastern Seoul until Friday.The

IndustryOct. 7, 2011

Manpower named one of U.S.’ top staffing firms

The human resource services provider Manpower has been included in the Best of Staffing Talent list, the company said Friday.Compiled by the U.S.-based research firm Inavero Inc., the Best of Staffing Talent list includes staffing firms whose services are rated highly by job seekers. According to th

IndustryOct. 7, 2011

Uncertainty still high over Lone Star-Hana deal on KEB

The Seoul High Court’s Thursday ruling that the ex-head of Lone Star Korea was guilty of manipulating stock prices cleared legal issues on the fund’s deal to sell its Korea Exchange Bank to Hana Financial Group. But uncertainty still lingers in the financial market as the U.S. buyout fund has yet to

Oct. 7, 2011

S. Korea's CDS premium jumps most in 32 months

SEOUL, Oct. 7 (Yonhap) -- The cost of insuring South Korea's sovereign debt against default climbed the most in 32 months, growing two times faster than that of eurozone countries, data showed Friday.The credit default swap (CDS) premium on South Korea's foreign currency bonds with five-year maturit

Oct. 7, 2011

Seoul shares open higher on eased European woes

SEOUL (Yonhap) -- South Korean stocks got off to a strong start on Friday, tracking overnight gains on Wall Street underpinned by a European Central Bank (ECB) plan to support the region's struggling lenders, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 49.68 points,

Oct. 7, 2011

Samsung puts Q3 operating profit at 4.2 trillion won

SEOUL (Yonhap News) -- Samsung Electronics Co., the world's biggest maker of computer memory chips and the No. 2 mobile-phone maker, estimated Friday that it had logged an operating profit of 4.2 trillion won ($3.49 billion) in the third quarter.The preliminary estimate for the July-September period

IndustryOct. 7, 2011

Artists talk how their designs changed the world

The third session of Herald Design Forum 2011, “Culture and Design,” kicked off with a keynote speech by Chung Joon-mo, curator and general director of the Cheongju International Craft Biennale 2011. He discussed the roles of curators and critics, and the role of art museums, galleries and exhibitio

Oct. 6, 2011

More than 1 in 10 parents skip, delay kids’ vaccinations

CHICAGO (AP) ― By age 6, children should have vaccinations against 14 diseases, in at least two dozen separate doses, the U.S. government advises. More than 1 in 10 parents reject that, refusing some shots or delaying others mainly because of safety concerns, a national survey found.Worries about va

TechnologyOct. 6, 2011