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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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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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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New Internet era beckons with firm domain names
SINGAPORE (AFP) ― The Internet is poised for potentially one of its biggest shakeups in years as an industry body prepares to vote on Monday on a proposal to open up new domain suffixes for private companies.Under the changes to be decided at a meeting in Singapore, businesses would no longer be restricted to the list of generic top level domains that include .com, .net and .org when they apply to
IndustryJune 19, 2011
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Prepaid mobile service to debut in S. Korea next month
SEOUL, June 19 (Yonhap) -- Eyesvision Co., a new entrant to the South Korean mobile phone market, said Sunday that it plans to launch prepaid wireless service through a leased network in the country next month.Eyesvision, which sells prepaid cards for international phone calls, said that it has agreed with SK Telecom Co. to lease the top mobile carrier's network and to roll out prepaid mobile phon
TechnologyJune 19, 2011
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Games company Sega becomes latest hacking victim
LONDON (AP) _ Video game developer Sega said that its online database has been hacked, making it the latest in a string of games companies to be attacked. The company sent an email to users of the Sega Pass system on Friday to warn them that email addresses, dates of birth and encrypted passwords had been stolen from online database. The email stressed that no financial information was at r
TechnologyJune 19, 2011
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Japanese lab makes meat from excrement
Mitsuyuki Ikeda, a researcher from the Okayama Laboratory has developed beef based on proteins from human excrement, the Huffington Post reported Friday. His idea was inspired when Tokyo sewage plant asked him to explore possible uses for the sewage and Ikeda found that the sewage contained a great deal of protein. The final product is made up of protein (63 percent), carbohydrates (25 percent), m
TechnologyJune 19, 2011
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S. Korea's mortgage rates hit 30-month high
SEOUL, June 19 (Yonhap) -- South Korean mortgage rates have soared to a near 30-month high due to the central bank's rate hike, sources said Sunday, raising concern that an increase in household interest costs could dampen consumer spending.Following a two-month freeze, the Bank of Korea on June 10 hiked the benchmark seven-day repo rate by a quarter percentage point to 3.25 percent for this month
June 19, 2011
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Cnet picks Samsung's PDP TV as best TV of year
SEOUL, June 19 (Yonhap) -- Cnet.com, a major U.S. technology review site, selected Samsung Electronics Co.'s plasma display panel (PDP) TVs as the best TV of the year, industry sources said Sunday.Cnet said the D8000 series, which consists of a string of Samsung's PDP TV models, outperformed rivals' products released in the U.S. market this year, according to a Samsung official.Judges of the U.S.
IndustryJune 19, 2011
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IMF urges BOK to tame inflation
Delegation calls for speedy hikes in key rate and currency appreciationA delegation from the International Monetary Fund on Friday advised Korea to take tighter monetary policy and pull up its currency value to tame mounting inflationary pressure.Speaking at a news conference after winding up its two-week inspection of the Korean economic situation, the delegation said it is necessary for Korea to
June 17, 2011
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Asiana Airlines to buy 3 Korea Express units
Asiana Airlines Inc. said Friday that it will buy three Korea Express Co. units ― Aas Airport Service, Asiana Airport Development Co. and Kumho Terminal Co. In its regulatory filing, the nation’s second-largest air carrier said it will purchase Kumho Terminal for 255.5 billion won ($235.3 million), Asiana Airport Development for 67.7 billion won and Aas Airport Service for 38.3 billion won. With t
IndustryJune 17, 2011
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Lawmakers agree on BOK inspection right
The National Assembly is poised to settle the long-standing dispute over whether to provide the nation’s central bank with independent authority to inspect financial companies.Ruling and opposition lawmakers have reportedly reached a consensus to pass the proposed revision of the law on the Bank of Korea as early as this month, according to the political sector.The revised bill has been pending at
June 17, 2011
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3 state firms’ CEOs face dismissal
Three are among 11 who received lowest grades in evaluationA government’s evaluation committee has called for the dismissal of the chiefs of three public corporations and institutions over their poor performance.Announcing the results of its assessment on Friday, the panel under the Finance Ministry also said the chiefs of local state-run corporations and institutions were better managers and ramp
June 17, 2011
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LGE globally launches Optimus 3-D phone
LG Electronics on Friday marked the global launch of its “Optimus 3-D” smartphone, starting with the European markets. The Seoul-based company held a ceremony in Spain to mark the launch and plans to release its phones in 60 countries in Europe. The Optimus 3-D is a smartphone with third-dimensional functions. The phone features a 4.3-inch glasses-free 3-D display that gives users the third-dimens
IndustryJune 17, 2011
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Seoul to expand ‘differentiated rate system’ for public services
Korea will expand the “differentiated rate system” for public services as part of its ongoing efforts to tame inflation, a senior Finance Ministry official said Friday.The differentiated rate system will be applied to such services as electricity and highway toll fees by offering diverse rates based on time, amount of usage and other factors, Vice Finance Minister Yim Jong-yong said at a weekly an
June 17, 2011
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Scientists ID mysterious flash in distant galaxy
This artist's image provided by the University of Warwick shows a star being distorted by its close passage to a supermassive black hole at the center of a galaxy. (AP-Yonhap News)LOS ANGELES (AP) _ Astronomers think they have solved the mystery of an extraordinary flash spied in a faraway galaxy, saying it came from a massive black hole that devoured a star after it wandered too close.The awesom
TechnologyJune 17, 2011
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Facebook users more trusting, engaged
NEW YORK (AP) -- Facebook, it turns out, isn't just a waste of time. People who use it have more close friends, get more social support and report being more politically engaged than those who don't, according to a new national study on Americans and social networks. (Bloomberg)The report comes as Facebook, Twitter and even the buttoned-up, career-oriented LinkedIn continue to engrain themselves i
TechnologyJune 17, 2011
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Lone Star retrial delayed
The Seoul High Court delayed the trial in the case of alleged stock manipulation of the Korean unit of Lone Star Funds, the biggest shareholder of Korea Exchange Bank, to July 21.While the court held the trial on Thursday, it accepted the proposal for a delay from lawyers for Paul Yoo, former CEO of the now-defunct Lone Star Korea.In March, the Supreme Court hinted that former Lone Star Korea CEO
June 16, 2011
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Seoul pushes for access to Swiss bank accounts
Tax agency finds 1.8 trillion won of foreign funds invested in local stocksThe National Tax Service is pushing for a discussion with Swiss tax authorities to widen the scope of information sharing needed to crack down on alleged tax dodging by overseas Koreans with bank accounts there.The agency was confirmed to have found more than 1.8 trillion won ($1.64 billion) of foreign funds invested in loc
June 16, 2011
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Korea, China agree on efforts for FTA
Korea and China have agreed to make efforts for a bilateral free trade agreement to boost trade and further deepen economic ties, the Trade Ministry in Seoul said Thursday.The agreement came at Wednesday’s high-level talks held on Korea’s southernmost resort island of Jeju, in which both sides shared views that a bilateral free trade pact will solidify their economic and trade relations, according
June 16, 2011
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POSCO to set up processing joint venture in China
POSCO will set up a joint venture with the Chinese steelmaker Tonghua Iron and Steel Group.According to the Korean steelmaker, it has formed an agreement with the Chinese firm to establish an automotive plate processing joint venture with an annual processing capacity of 200,000 tons.The plant will be located in a special economic development zone in Huinan Country in Jilin Province. POSCO will ho
IndustryJune 16, 2011
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Firms’ image biggest factor in buyers’ minds
Corporate image has a major influence on local consumers who said their purchases were largely based on the image companies cultivate, according to a survey by the Korea Chamber of Commerce and Industry.More than 80 percent of those surveyed said they were influenced by corporate image when purchasing products, while only about 15 percent said they were not. Consumers also were found to hold domes
IndustryJune 16, 2011
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Woori bid to buy U.S. lender fails
Woori Finance Holdings Co.’s deal to buy a Los Angeles-based bank has fallen through due to regulatory hurdles, sources said Thursday, casting a shadow on its ambition to strengthen its footing in the United States.In May last year, Woori Finance, Korea’s No. 2 banking group, agreed to buy a controlling stake in Hanmi Bank, the flagship of Hanmi Financial Corp., for $240 million in a bid to expand
June 16, 2011
