Big quakes don't set off others far away: study

NEW YORK (AP) -- Here's some good news in the wake of Japan's isaster: A new study says big earthquakes don't set off other dangerous ones around the globe.Big quakes do trigger local aftershocks, but researchers found no sign of setting off moderate-sized events beyond about 600 miles (1,000 kilometers) away.That won't surprise most experts, said lead study author Tom Parsons. But it's different from his prior research, which did find a global effect for setting off small quakes, said Parsons,

TechnologyMarch 28, 2011

Japanese funds return to S. Korean markets

Japanese investors have been putting their money into the South Korean financial market even after Japan's devastating quake, data showed Monday, easing speculation that they may repatriate overseas assets to finance Japan's post-quake rehabilitation.The 9.0-magnitude earthquake and ensuing tsunami hit the northeastern part of Japan on March 11, leaving more than 20,000 people dead or injured.Japa

March 28, 2011

Construction sector shrinkage steepest in over a decade

   South Korea's construction sector contracted at the sharpest rate in more than a decade in the fourth quarter of last year due mainly to a protracted property market slump, data showed Monday.   The construction sector shrank 5.3 percent in the fourth quarter from three months earlier, according to the data by the Bank of Korea and Statistics Korea. The on-quarter decline is the steepest since

IndustryMarch 28, 2011

Seoul shares open a tad higher

South Korean stocks began marginally higher on Monday but traded in a narrow range as investors opted to take a breather following last week's climb, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.51 points, or 0.02 percent, to 2,054.55 in the first 15 minutes of trading. Last week, the KOSPI finished up 3.68 percent from a week earlier.   Techs were bullish w

March 28, 2011

Warning against banks comes again

Major commercial banks should refrain from engaging in excessive competition to increase their assets as there is a possibility that they will face financial difficulties, a report said on Sunday.The Korea Institute of Finance likened the current situation to that of the period between 2005 and 2008, when banks saw their profitability continue to worsen due to heated competition.The cautionary adv

March 27, 2011

Ministry hints at Gimhae airport alternative

Decision on new international airport to be unveiled Wednesday, Busan, Miryang also in the runningThe government is poised to decide Wednesday whether a new international airport will be built in Busan or Miryang, South Gyeongsang Province.Yet it is still uncertain whether the Ministry of Land, Transportation and Maritime Affairs will choose between the two cities or select an alternative, such as

March 27, 2011

Korea moves to contain bird flu

South Korea is moving to stem future cases of bird flu as foot-and-mouth disease outbreaks have been largely put under control, the government said Sunday.The farm ministry said it currently maintains poultry movement restrictions in 14 rural cities and counties across the country after quarantine authorities had to cull 6.27 million birds on 269 farms since Dec. 29, when the first case of bird fl

March 27, 2011

Lotte balks at Homeplus chicken jibe

Retailer considers action against rival over using comparative advertisingTwo of Korea’s biggest supermarket chains are at loggerheads over advertisements for super-cheap chicken.Homeplus, the country’s second-biggest supermarket chain, began selling raw chicken for as low as 1,000 won ($0.89) Thursday. Securing a total of 200,000 raw chickens, its 122 branches nationwide are selling up to 250 chi

IndustryMarch 27, 2011

Hankook Tire starts social contribution project

The country’s largest tire maker Hankook Tire is launching a safety campaign and a social contribution campaign, both of which will run until the end of the year, from Monday. In the safety campaign, the company’s employees will show customers visiting sales outlets tire-related safety tips that are specific to different seasons of the year.In addition, those purchasing selected products ― Ventus

MobilityMarch 27, 2011

Western DIY outlets retreat in China

At a near-empty B&Q home improvement outlet in Beijing, much of the foot traffic is due to the location of a public toilet next to the entrance ― not the store’s patio furniture or circular saws.It’s a sign of how foreign “do-it-yourself” big-box chains have struggled to attract customers in China, where homeowners have little experience in renovating apartments and prefer to pay low-wage decorators to do it for them.“Do-it-yourself is not popular in China,” Shaun Rein, managing director of Chin

IndustryMarch 27, 2011

Gov't may scrap plan to build new int'l airport: sources

The government may have decided to scrap a plan to build a new international airport in the country's southeastern region due to economic considerations, sources in the ruling camp said Sunday.   The sources told Yonhap News Agency that a special panel set up to review the two candidate sites for the new airport have decided that it would be better to abandon the expensive building program.   "The

IndustryMarch 27, 2011