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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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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First snow to fall in Seoul on Wednesday
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Man convicted after binge eating to avoid military service
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S. Korea not to attend Sado mine memorial: foreign ministry
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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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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Samsung to build green energy complex in reclaimed Saemangeum
Samsung Group, South Korea’s top conglomerate, will build green-energy industrial facilities from 2021 in a new town to be created on west coastal tidal flats, the Prime Minister’s Office (PMO) said Wednesday.Samsung signed a memorandum of understanding with the government to construct green-energy production facilities, a research institute and houses on a 11.5-square-kilometer plot in the Saeman
IndustryApril 27, 2011
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Greece’s deficit bigger than forecast
Government deficit reaches 10.5% of GDP in 2010, above 9.6% predicted by EUBRUSSELS (AP) ― Greece’s government deficit was significantly bigger than forecast last year, European Union data showed Tuesday, underlining the difficulties the debt-ridden country is having to get its finances under control.Greece’s deficit hit 10.5 percent of economic output in 2010, well above the 9.6 percent the Europ
IndustryApril 27, 2011
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Young students have high blood pressure: report
Elementary school kids are jumping rope for heart health in a physical activity session (Yonhap News)About 5.8 percent of elementary and secondary school students have high blood pressure, and six out of 10 have bad eyesight, a report showed Tuesday.The findings came from a regular checkup by schools in Gyeonggi Province from last March to February this year. The number of students with high blood
TechnologyApril 27, 2011
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8 out of 10 employees work late: survey
(MCT)Eight out of ten employees work overtime, half of them without any reward, a study showed Tuesday.In a survey conducted by Saramin, an online recruitment website in Korea, about 75.9 percent of respondents worked overtime, with 45.8 percent of them doing so without proper compensation.More than 54 percent of respondents who worked overtime said they were considering quitting their jobs. Most
IndustryApril 27, 2011
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Sony PlayStation suffers massive data breach
TechnologyApril 27, 2011
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S. Korean economy grows 1.4 pct in Q1
The South Korean economy grew 1.4 percent in the first quarter from three months earlier on sustained exports and improving domestic demand, the central bank said Wednesday.The first-quarter growth accelerated from a 0.5 percent on-quarter expansion seen in the fourth quarter of last year, according to an advance estimate by the Bank of Korea (BOK). The country's gross domestic product (GDP), the
April 27, 2011
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Lee aide urges public funds to keep chaebol in check
A presidential aide Tuesday urged the national pension and other public funds to avidly exercise their shareholder rights in order to keep larger companies in check.“Public funds exercising their shareholder rights (in large companies) are the most effective way to keep the large companies and their power in check,” said Kwak Seung-jun, head of the Presidential Council for Future and Vision at a p
April 26, 2011
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FSS under fire for graft, negligence
The nation’s top financial watchdog is under fire after several charges of corruption and power abuse were revealed this week.Three former and current officials from the Financial Supervisory Service were booked on Monday on charges of extorting money out of debt-ridden companies trying to get an approval for capital increases. Another two auditors were also arrested on charges of receiving bribes
April 26, 2011
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Seoul-Beijing direct flights to open in July
South Korea and China have agreed to provide flight services between Seoul and Beijing in a move to reduce overall travel time, the transportation ministry said Tuesday.The two nations recently signed a memorandum of understanding to allow their airlines to offer direct flights between Gimpo International Airport, west of Seoul, and Beijing International Airport starting in July, the ministry said
April 26, 2011
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Outbound travelers fall to 16-month low
The number of South Korean travelers going overseas fell to a 16-month low in March, apparently due to the recent earthquake and tsunami that hit Japan, the top destination for outbound tourists, data showed Tuesday.According to the data released by the Justice Ministry and the Korea Tourism Organization, the number of South Koreans going overseas came to 868,694 last month, down 8.6 percent from
April 26, 2011
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International air travel grows 6% in Q1
The number of passengers using international air flights grew about 6 percent during the first quarter as people were bolstered to travel by the ongoing economic recovery, the transportation ministry said Tuesday.Passengers using international flights in and out of South Korea’s airports came to 10.13 million during the January-March period, up 5.8 percent from the same quarter a year earlier, the
April 26, 2011
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KT creates wireless broadband zone in Jeju
JEJU -- KT Corp. announced Tuesday it has completed a nationwide wireless broadband network by installing the service on Jeju Island.The country’s biggest fixed-line operator also signed an agreement with Jeju Provincial Government to build a mobile call center and to work together on expanding the high-speed wireless Internet service in Jeju.“(Today’s) event is meaningful in that the fourth gener
TechnologyApril 26, 2011
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Consumer sentiment rebounds in April
South Korea’s consumer co nfidence rebounded for the first time in five months in April on the back of optimism about the economic recovery, the central bank said Tuesday.The consumer sentiment index (CSI) ― a gauge of consumers’ overall economic outlook, living conditions and future spending ― stood at 100 for April, up from 98 in March, the Bank of Korea (BOK) said in a monthly report.The April
April 26, 2011
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World’s largest oil firm to hold board meeting here
The world’s largest crude oil producer Saudi Aramco will hold its annual board of directors meeting in Seoul on Thursday.According to S-Oil, Saudi Aramco chief executive Khalid A. Al-Falih came to Korea on a five-day trip on Monday, during which he will attend the board meeting.The Saudi state-owned firm produces about 3.4 billion barrels of oil on an annual basis, and supplies about 30 percent of
IndustryApril 26, 2011
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Banks agree to purchase bad loans
At regulator’s demand, commercial lenders to take over 400b won in bad debts from troubled savings banksSeveral commercial banks on Tuesday accepted the financial authorities’ proposal to absorb a large portion of the soured loans held by distressed savings banks.The situation is provoking debate over whether financial regulators have been intervening in the market legitimately.A meeting between F
April 26, 2011
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Sakha Republic seeks Korean involvement in resources development
Sakha Republic’s delegation, led by President Egor Borisov, wrapped up its three-day trip to South Korea on Tuesday.Accompanied by 40 government and industry officials, Borisov came to Korea on Sunday to promote Sakha Republic’s economic projects including those involving natural resources development.Taking up about half of Russia’s Far Eastern Federal District, Sakha Republic is the world’s larg
IndustryApril 26, 2011
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Anti-counterfeit device added to Windsor whisky
The country’s largest spirits distributor Diageo Korea launched a new anti-counterfeiting device Tuesday.The new device, Windsor Protect, is designed so that a 2-millimeter gap is left between the cap and neck of the bottle once it is opened, preventing the bottle from being resealed once the original seal is broken.The device, which according to the company is the most efficient of its kind, will
IndustryApril 26, 2011
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S. Korea’s biggest food expo opens
South Korea’s largest-ever international food exposition kicked off Tuesday for a four-day run, bringing together more than 1,100 companies from 45 countries.The 2011 Seoul Food Expo will run until Friday at the Korea International Exhibition Center in Goyang, northwest of Seoul, according to its organizer, the Korea Trade-Investment Promotion Agency (KOTRA).The 29th Seoul Food Expo comes as Seoul
IndustryApril 26, 2011
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Life insurers’ overseas losses worsen in 2010
South Korea’s top three life insurers posted greater losses in their overseas operations in fiscal 2010 from a year ago due mainly to increased start-up costs, the financial watchdog said Tuesday.The combined net loss of the eight overseas subsidiaries operated by the three biggest life insurance firms, including Samsung Life Insurance Co., came to $13.1 million last year, compared with $7.7 milli
April 26, 2011
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KT chairman cool on fee cuts
KT Chairman Lee Suk-chae responded coolly to the government’s demand to lower telecom costs, claiming that companies should be noted for making network investments.In a meeting with reporters in Jeju, Lee said he would discuss multiple measures with the government considering there is a financial burden involved.“Consumers’ money spending pattern has changed and increased in sum with the economic
IndustryApril 26, 2011
