Customers of the National Agricultural Cooperative Federation, Nonghyup, have been unable to withdraw cash or use online banking services after the shutdown of the bank's computer system began around 5 p.m. on Tuesday, April 12, 2011. (Yonhap News)Authorities launch investigation into network failure of NonghyupThe prosecution and financial regulators began their investigation into the unprecedent

April 14, 2011

Hyundai Group Chairwoman Hyun Jeong-eun has been named honorary counselor for Brazil, the company said Thursday.As a civilian counselor, Hyun said she hopes to play a critical role in facilitating exchange between the two nations during the appointment ceremony at Brazilian Counselor Edmundo Sussumu Fujita’s home in Seoul. Hyun Jeong-eun“We are seeing a surge in all sectors of trade and exchange w

IndustryApril 14, 2011

Regulator under fire for not consulting industry playersThe government’s latest hints that it might try to offer text messaging for free were met with fierce protests from local telecom operators, according to industry watchers. KT Corp., SK Telecom and LG Uplus all appeared to be upset by recent remarks from Choi See-joong, chairman of the Korea Communications Commission, who told lawmakers Wedne

IndustryApril 14, 2011

Apple Inc. will begin selling a white model of the iPhone 4 in the next few weeks after a 10- month delay, according to three people familiar with the plans. The new version will be available from AT&T Inc. and Verizon Wireless by the end of April, said one of the people, who asked not to be identified because the plans aren’t public. The release was stalled as Apple resolved manufacturing challen

IndustryApril 14, 2011

A great number of harmful microbes are found in fiber-made goods such as pillows, dolls by a study. (Yonhap News)Household goods made of fiber are shown to be the most ridden with bacteria, according to a study made public Tuesday by Prof. Cheon Jong-sik of the Department of Biotechnology at Seoul National University. Cheon found evidence of a greater number of harmful microbes in fiber-made goods

TechnologyApril 14, 2011

Red No. 40 and other artificial dyes have increasingly become scarlet letters (and numbers) to parents who read food labels. Some believe that these common food, drug and cosmetic dyes can exacerbate behavioral disorders in children, as well as possibly contribute to allergies and cancers.The FDA, after long stating that no scientific evidence conclusively links the petroleum-based colorants to hy

TechnologyApril 14, 2011

WASHINGTON (AP) ― It’s that time of year when the bugs emerge to bug us.Some can pose real threats ― Lyme disease from tiny ticks, West Nile virus from mosquitoes, or life-threatening allergic reactions to bee stings. But most bug bites in this country are an itchy nuisance.How itchy or big the welt depends in part on your own skin, how much of the chemical histamine it harbors. Yes, some people r

TechnologyApril 14, 2011

We all encounter numerous stressors in everyday life. Stress refers to our emotional and physical state as a final product from interplay between life stressors and the self. Stress is known to be an important factor in the development of many diseases, such as cancer, stroke, heart disease, functional dyspepsia, irritable bowel syndrome, rheumatic disease, pain disorder, etc. Many factors, such a

TechnologyApril 14, 2011

International health care center aims to make patients feel at homeThis is the third in a series of articles on international clinics at major medical centers in Seoul. ― Ed.Soon Chun Hyang University Hospital in Hannam-dong, central Seoul, made international headlines last month when its doctors successfully performed gastric resection on two severely obese women from New ZealandMaking the proced

TechnologyApril 14, 2011

Hyundai Motor Group chairman Chung Mong-koo (right) greets Banca Sandanter’s chairman Emilio Botin at the carmaker’s office in Seoul on Wednesday. (Hyundai Motor Group)Hyundai Motor Group will set up auto-financing firms in Brazil and the U.K. in collaboration with Spain-based Banco Santander.Banco Santader is Europe’s largest commercial bank with more than 86 million customers. Hyundai Motor chai

IndustryApril 13, 2011

IMF predicts 4.5% prices growth, BOK expects stability in oil pricesThe Bank of Korea on Wednesday revised its projection for this year’s consumer inflation to a three-year high of 3.9 percent while maintaining its growth outlook at 4.5 percent. Oil and vegetable prices, the main drivers of inflation, are expected to ease during the third quarter, but the underlying upward trend will continue into

April 13, 2011

HONG KONG (Yonhap News) ― Hyundai Motor Co., Korea’s No. 1 auto maker, has established a research center in Beijing in an effort to expand its business in China, company officials said Wednesday.The recent launch of the “Hyundai Motor Research Institute for the China Management” comes after China replaced Korea as the largest market for Hyundai Motor last year. The Korean company sold 700,000 cars

April 13, 2011

Financial regulators on Wednesday launched an inquiry into the National Agricultural Cooperative Federation, also called Nonghyup or NH Bank, which suffered a significant problem with in its online transaction systems.Nonghyup has seen its network systems, including Internet banking and automated teller machines, break down since around 5 p.m. Tuesday.The bank had to make an official apology as it

April 13, 2011