IndustryJuly 27, 2011

IndustryJuly 27, 2011

By Cho Ji-hyunControversy is escalating over whether it was appropriate for a member of a media watchdog to post photos that some argue are “sexually offensive” on his personal blog.Last Wednesday, Park Kyung-sin, one of the nine commissioners at the Korea Communications Standards Commission, posted screen-grabs of photos of multiple male genitals published on other blogs on his own site, asking v

July 27, 2011

LG Electronics Inc., the world's third-largest mobile phone makers, said Wednesday that its second-quarter operating profit rose 25 percent from one year earlier, as its newly released smartphones helped the company narrow losses in the mobile business. Operating profit reached 158.2 billion won (US$150.9 million) in the April-June period, compared with an operating profit of126.2 billion won a ye

IndustryJuly 27, 2011

WASHINGTON (AP) _ The wealth gaps between whites and minorities in the United States have grown to their widest levels since the U.S. government began tabulating them a quarter-century ago. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census da

July 27, 2011

BRUSSELS (AFP)— An unidentified flying object photographed high in the Belgian sky that puzzled even NASA scientists turns out to have been a fake made out of foam, the man behind the hoax said Tuesday.Though scientists pored over the picture of a triangular-shaped flying saucer with four lights, allegedly photographed in April 1990 by a young worker, the mystery remained intact until the man's re

TechnologyJuly 27, 2011

A new study suggests most people struggle to crack a smile until 11:16 a.m. on Mondays after a long weekend, the Telegraph reported.Due to Monday blues, people only manage to perform three and a half hours of productive work, according to the study by Marmite.Particularly, those aged between 45 and 54 are likely to suffer most and moan for around 12 minutes, the study said.Moreover, the experts po

TechnologyJuly 27, 2011

The top U.S. trade official predicted confidently Tuesday that Congress will pass free trade agreements (FTAs) with South Korea, Colombia and Panama in September.In a speech at a Bretton Woods Committee meeting, U.S. Trade Representative Ron Kirk said a "framework" for a deal on the controversial Trade Adjustment Assistance (TAA) is already in place.President Barack Obama is pushing to renew the w

July 27, 2011

The South Korean economy grew at the slowest pace in six months in the second quarter as export gains sharply eased amid global economic uncertainty, the central bank said Wednesday.Asia's fourth-largest economy grew 0.8 percent in the April-June period, down from a 1.3 percent on-quarter expansion tallied in the first quarter, according to an advance estimate of the Bank of Korea (BOK). The count

July 27, 2011

Tariff raise eases cost burden for KEPCO, complicates inflation fightThe government announced Tuesday it will raise electricity tariffs by an average 4.9 percent starting August to reflect rising energy costs even as inflation remains high.The Economy Ministry said electricity bills will rise 6.1 percent for industrial use but said the raise for home use will only be 2 percent. Finance Minister Ba

July 26, 2011

Korea Kumho Petrochemical Co. and its three subsidiaries plan to spend 880 billion won ($837 million) by 2014 to scale up their production lines in Yeosu, South Jeolla Province the companies said Tuesday.The deal reflects the firms’ efforts to meet surging demand for their materials, which are used in automobiles and consumer electronics. When completed, Kumho Petrochemical will be able to churn o

IndustryJuly 26, 2011

LG Electronics has received certification from the U.S. for producing carbon-free goods. making headway in the field of environmentally friendly technology, said the Seoul-based company on Tuesday.The certification was from Carbon Fund, one of the leading institutes in the U.S. that provides certification for carbon-free products. LG Electronics is the first Korean company to receive the credentia

IndustryJuly 26, 2011

KT Corp.’s resubmitted plan to end services for feature phone users by September is again stirring up controversy as the number of owners remains high.“I truly hope KT is aware of the fact that even a single customer was a loyal one using its services for a minimum of a few months to a number of years,” said a Seoulite who wished to only be identified by his surname Jung. The Korea Communications

IndustryJuly 26, 2011

Hyundai Heavy Industries on Tuesday signed an agreement with the state of Rio de Janeiro and the city of Itatiaia to set up a plant producing construction equipment in the Brazilian city.For the plant, the company will invest $150 million and the Brazilian government will provide support in building gas and water supply lines, and other infrastructure, Hyundai Heavy said.The company plans to compl

IndustryJuly 26, 2011

The number of cattle in South Korea hit a record high in June and is expected to grow further for a couple of years, helping stabilize beef prices, the government said Tuesday. The Ministry for Food, Agriculture, Forestry and Fisheries said that the country had 3.05 million heads of hanwoo beef cows as of last month, up 4.5 percent from a year earlier and the largest ever. Despite 110,883 heads of

July 26, 2011