Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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Opposition leader awaits perjury trial ruling
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Record cattle numbers to keep beef prices stable
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
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LG Chem reels in $10m battery order
LG Chem, South Korea’s leading chemical maker, said Tuesday that it has clinched a $10 million contract to develop a lithium ion battery for U.S. automakers.Under the deal with U.S. Advanced Battery Consortium, LG Chem will develop a high-powered, high-capacity lithium-ion battery for plug-in electric vehicles by 2013, the company said.The consortium is composed of the U.S. Department of Energy an
IndustryJuly 26, 2011
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Transfer of wealth via stock gifts rises
The largest shareholders at Korea’s listed firms have reaped huge profits through gifted stocks in the past five years, taking advantage of fluctuations in the financial markets, a local source revealed Tuesday. According to Chaebul.com, which tracks news and data on Korea’s conglomerates, gifted stocks or inheritance by the largest shareholders amounted to 3.3 trillion won ($3.1 billion) in the p
July 26, 2011
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SC First labor, chiefs still poles apart on pay
With no immediate end in sight for a prolonged strike, the labor and management of SC First Bank appear to be playing a game of chicken over its pay system, which could end up in a no-win situation for both sides, analysts said Tuesday.Irked by a management plan to adopt a novel merit pay system, about 2,900 unionized workers at the seventh-largest lender in South Korea have been striking for the
July 26, 2011
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Korea to make foot-and-mouth vaccine
South Korea will produce vaccines for foot-and-mouth disease next year to protect livestock after the country suffered the worst outbreak of the disease earlier this year, a government agency said Tuesday.The Animal, Plant and Fisheries Quarantine and Inspection Agency said it plans to import FMD antigens from foreign vaccine manufacturers and get local companies to learn production knowhow so the
July 26, 2011
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IT industry too dependent on smart devices
Electronic dictionaries, MP3 players, navigation being used less frequentlyThe smart device boom may be a blessing for many who now have instant access to everything from emails to the nearest restaurant serving their favorite foods, but smart products also are making electronics companies increasingly lazy. The local IT industry is apparently too heavily dependent on smart devices such as smartph
IndustryJuly 26, 2011
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Kakao sweet for S. Korean smartphone users
South Korean student Hwang Jin-Joo no longer sends text messages to his extensive circle of friends, he “KaTalks” them.Kakao Talk, a mobile messenger smartphone application, has enjoyed phenomenal success since it was launched 16 months ago and has spawned similar apps in the world’s most wired nation.“Almost everyone I know uses the service, and it’s so economical that now I can’t imagine how I’d
IndustryJuly 26, 2011
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BlackBerry maker to cut 2,000 jobs
NEW YORK (AP) ― Faced with tough competition and falling profits, BlackBerry maker Research In Motion Ltd. is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives.The job cuts amount to about 10 percent of the company’s work force. The company said Monday it will notify affected employees this week. It expects to give more information on th
IndustryJuly 26, 2011
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Food inflation likely in crop price outlook
IndustryJuly 26, 2011
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Greek finance minister pitches case to U.S., IMF
WASHINGTON (AFP) ― Greek Finance Minister Evangelos Venizelos said Monday that U.S. support is vital for Greece, after a day of Washington meetings as Athens pushed to finalize its second massive international bailout.“The support provided by the US government is especially important for Greece, for the eurozone, for the international economy and for the global economic governance,” he told report
IndustryJuly 26, 2011
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‘Swift U.S. debt action in global interest’
IndustryJuly 26, 2011
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Urban-planning expert to head GUIC
Lee Jae-young, an urban housing and planning specialist, took office on Monday as the new president of the Gyeonggi Urban Innovation Corporation.A former chief the of the land and housing unit at the Ministry of Land, Transport and Maritime Affairs, he will orchestrate the state-funded company’s residential land development activities. Lee Jae-yongAt his inauguration ceremony in Suwon, Gyeonggi P
IndustryJuly 26, 2011
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Study looks into personality factors affecting infidelity
Men with sexual performance anxiety are more likely to cheat on their partners, a new study on the factors that predict infidelity found.Men who are risk-takers or easily sexually aroused are also more likely to wander. For women, relationship factors seem to be most important factor, according to the research by U.S. and Canadian scientists.Maria Shriver (left) and Arnold Schwarzenegger smile tog
TechnologyJuly 26, 2011
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S. Korea to hike electricity prices by 4.9 pct next month
South Korea will raise electricity prices by 4.9 percent starting next month as part of its efforts to reflect rising power production costs, the commerce ministry said Tuesday.Electricity bills for household consumption will grow 2 percent from August, while those for commercial and industrial use will increase 4.1 percent and 6.1 percent, respectively, according to the Ministry of Knowledge Econ
July 26, 2011
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Sperm bank launches online catalogue of donor’s characteristics, appearance
The London Sperm Bank has established an Internet database of sperm donors. It provides descriptions of the personality, hobbies and fashion sense of donors, the Telegraph reported.The online catalogue includes the motivations of male donors, followed by the impressions of staff as to what the donors are like.In the brochure, one is described by a member of staff as “softly spoken, introspective,
TechnologyJuly 26, 2011
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Australian construction firms accused of abusing workers
Some Australian construction companies based in Sydney have been accused of maltreatment of immigrant workers, labor unionists said.The Construction, Forestry, Mining and Energy Union (CFMEU) of Australia claimed they are taking advantage of foreign workers by hiring them through illegitimate procedures while paying wages below minimum level.CFMEU estimated that of 13,000 temporary foreign workers
IndustryJuly 26, 2011
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Banks' loan default rate dips to 6-month low in June
South Korean banks' loan delinquency rate fell to the lowest level in six months in June due mainly to a decline in project financing loans, the financial watchdog said Tuesday.The average delinquency rate of bank loans to companies and households stood at 0.97 percent as of the end of June, down 0.33 percentage point from the previous month, according to the Financial Supervisory Service (FSS).Th
July 26, 2011
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Outlook grim for top Korean IT firms
Companies fail to lure customers due to lack of killer productsThe nation’s electronics bellwethers are unlikely to give markets the push they need, as they are expected to post lackluster earnings reports for April-June as demand lagged due to a lack of must-have products, industry sources said Monday.Samsung Electronics, the world’s largest memory-chip maker, recently said in an earnings guidanc
IndustryJuly 25, 2011
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Doosan Heavy sees 158% rise in Q2 net
Doosan Heavy Industries and Construction Co.’s second quarter sales came in at 1.48 trillion won ($1.4 billion), rising 21.17 percent from a year ago, the company posted in a regulatory filing on Monday.Over the same period, the company’s operating profits fell 11.68 percent to 144.5 billion won while its net profits soared 158.04 percent to come in at 158.3 billion won.Compared to the first quart
IndustryJuly 25, 2011
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Renault Samsung starts new SM7 production
Renault Samsung Motor Co., the South Korean unit of French automaker Renault SA, said Monday that it started mass production of its completely new SM7 luxury sedan.The carmaker said the flagship luxury car is being manufactured at its Busan plant 453 kilometers southeast of Seoul with the vehicles to reach consumers in mid August. Renault Samsung Motor Co. executives and workers applaud at a cerem
IndustryJuly 25, 2011
