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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S. Korea not to attend Sado mine memorial: foreign ministry
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Job creation lowest on record among under-30s
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CJ named Korea Express bidder
Samsung Group denies involvement in bidding processCJ Group was selected Tuesday as the preferred bidder in the controversial race to acquire a sizeable stake in logistics company Korea Express. If all goes smoothly, the conglomerate will be on its way to achieving its long-term goal of creating Asia’s largest logistics company by 2015. Korea Express is likely to fetch up to 2 trillion won ($1.8 b
IndustryJune 28, 2011
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Current account surplus hits 7-month high
Korea’s current account surplus rose to the highest level in seven months in May on solid exports and decreased dividend payments to foreign investors, the central bank said Tuesday.The current account surplus reached $2.26 billion in May, up from a revised $1.28 billion the previous month, according to the Bank of Korea. The current account is the broadest measure of cross-border trade.The May su
June 28, 2011
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LG CNS plans global data center in Busan
LG CNS on Tuesday signed an agreement with Busan to build the country’s first global data center as a joint effort between the private and public sector in the port city. The “Global Cloud Data Center” will be erected by December 2012 within Busan-Jinhae Free Economic Zone and will go down as the largest such facility, covering 133,000 square meters. “By combining the high-quality cloud services o
IndustryJune 28, 2011
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STX shipbuilder fund to support suppliers
STX Offshore and Shipbuilding Co. on Tuesday set up a 3.8 billion won ($35 million) fund to give low-interest loans to suppliers in collaboration with two local banks.The new shared-growth fund will be used to extend loans to STX Offshore and Shipbuilding’s suppliers at rates between 1.9 percentage point and 2.5 percentage points lower than the benchmark rates, the company said.The fund was establ
IndustryJune 28, 2011
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SK Group disposes of stake in securities unit
SK Group sold its 24-million-share stake in SK Securities Co. in a block deal on Tuesday, a move seen as a measure to preclude penalties for breaking the fair trade law. The shares owned by SKC Inc., the group’s industrial film-making affiliate, account for 7.73 percent of the total and were traded at 1,920 won ($1.77) each, about 10 percent down from Monday’s closing price. Samsung Asset Manageme
IndustryJune 28, 2011
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Hana chief shies away from Woori bidding
Hana Financial Group chairman Kim Seung-yu on Tuesday downplayed the possibility of the financial company participating in a bidding competition for Woori Financial Group.His remarks came one day ahead of the deadline for submitting letters of intent to financial authorities to attend the takeover bidding for state-run Woori Financial.He told reporters that it would not be easy for the group to pa
June 28, 2011
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CJ picked preferred bidder for Korea Express
Samsung denies involvement in bidding process CJ Group on Tuesday was selected as the preferred bidder in the controversial race for acquiring a sizeable stake in logistics company Korea Express. If all goes smoothly, the food-to-entertainment conglomerate will be on its way to achieving its long-term goal of creating Asia’s largest logistics company by 2015. Korea Express is likely to fetch up
IndustryJune 28, 2011
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BPA makes male mice act like females: study
WASHINGTON (AFP) – Male mice who were exposed as babies to BPA, a chemical common in canned foods and plastic containers, act more like females and are seen as less desirable mates, a US study showed on Monday.The findings could have implications for how BPA, or Bisphenol A, may affect human development and behavior, said the study published in the Proceedings of the National Academy of Sciences."
TechnologyJune 28, 2011
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Russian scientists expect to meet aliens by 2031
A top Russian astronomer predicted Monday humanity will be able to encounter alien civilizations within the next two decades.Andrei Finkelstein, director of the Russian Academy of Sciences' Applied Astronomy Institute, said 10 percent of the known planets circling suns in the galaxy resemble Earth according to reports by the Interfax news agency and Reuters. (MCT)If water can be found there, the
TechnologyJune 28, 2011
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Seoul decides to lift ban on Canadian beef
(AFP-Yonhap News)Cattle under 30 months of age allowed, as with U.S. beef importsThe government has decided to lift its import ban on Canadian beef after blocking them for about eight years over mad cow disease concerns, allowing local consumers to buy Canadian product once feared to affect humans. The Agriculture Ministry said Seoul and Ottawa agreed to resume imports of Canadian cattle younger t
June 28, 2011
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4 Korean iPhone apps make it to top 10 paid list in Asia
Four Korean apps have made it to the top ten paid iPhone app list in the Asian region, signaling a positive trend for Korean developers wanting to jump into the fast-growing mobile software market. Birzzle, a puzzle game developed by Korea firm Enfeel Inc., ranked first and 10th at the same time in the list compiled by the Netherlands-based market research firm Distimo, which analyzed the data bas
TechnologyJune 27, 2011
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CJ, Samsung locked in unlikely feud
CJ Group claims Samsung affiliates conspired to acquire Korea Express; Lotte gives up on bidCJ Group said it will retaliate against what it claimed was Samsung Group’s deliberate act of betrayal regarding the bidding for Korea Express, the nation’s top logistics company.CJ is to take legal action against Samsung Securities for breaking off a sales advisory contract after being privy to critical in
IndustryJune 27, 2011
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POSCO chief to head engineering academy
POSCO chief executive Chung Joon-yang was appointed the new president of the National Academy of Engineering of Korea at the organization’s general meeting on Monday.Chung replaces Kim Doh-yeon who will now head the National Science and Technology Commission. Chung Joon-yang. (POSCO)The POSCO chief executive has been a full member of the National Academy of Engineering of Korea since 2008, and wil
IndustryJune 27, 2011
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Google, Apple top picks for Korean job seekers
(AP-Yonhap News)Google Inc. and Apple Inc. are the two most sought-after foreign companies among South Korean job applicants, a market survey showed Monday, pointing to their popularity here.According to the latest survey of 1,428 job seekers by SaraminHR Co., 16.7 percent of the respondents selected Google Korea as the most desired company to work at among foreign firms, citing the company’s corp
IndustryJune 27, 2011
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Number of Chinese firms here triples in decade
The number of Chinese firms making inroads into the local market has climbed almost three-fold over the past decade, reflecting its expanding presence as Korea’s No. 1 trading partner and the world’s second-largest economy, tax authorities said Monday.The National Tax Service said the number of companies headquartered in mainland China reached 620 as of the end of 2009, up from 225 in 1999. Combin
IndustryJune 27, 2011
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Korean women earn lower pay in spite of increase in social status
Korean women continue to be paid less than men despite improvements in their social standing.A Statistics Korea report showed that the average salary of women stood at 67 percent that of men last year. While the figure is higher than that for 2009 ― when it was 66.5 percent ― it remains disparate from the rapid rise in women’s presence in universities, professional vocations and as successful appl
June 27, 2011
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Shin Ramyun Black fined for false ads
NongShim, the country’s largest instant noodle maker, was fined 155 million won ($143,022) for deceptive advertising of its latest product, Shin Ramyun Black, the corporate watchdog said Monday.The Fair Trade Commission called the company’s description of the item as an “ideal product meeting the nutrition ratio” misleading and ordered them to fix the advertisement.“Some food manufacturers, of lat
IndustryJune 27, 2011
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Securities firms could be hit by ban on short-term loans
The stock brokerage industry faces a revamping as financial regulators have decided to restrict transactions of “call money,” short-term loans provided to securities firms from financial companies.Citing the necessity of reducing the liquidity risk among securities firms, the Financial Supervisory Service said last week that it would ultimately ban brokerages from applying for call loans starting
June 27, 2011
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KT to pursue 3W, LTE as next technologies
Company banking on early 4G network provision along with November launch of LTE serviceKT Corp. said Monday it was aiming to meet the fast-rising demand for wireless data usage by equipping itself with fourth generation wireless broadband and Long Term Evolution technologies.The country’s biggest fixed-line service operator said it would begin servicing the nation’s capital with its 4G LTE network
IndustryJune 27, 2011
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4 Korean iPhone apps make it to top 10 paid list in Asia
Four Korean apps have made it to the top ten paid iPhone app list in the Asian region, signaling a positive trend for Korean developers wanting to jump into the fast-growing mobile software market. Birzzle, a puzzle game developed by Korea firm Enfeel Inc., ranked first and 10th at the same time in the list compiled by the Netherlands-based market research firm Distimo, which analyzed the data bas
TechnologyJune 27, 2011
