Web sites of Cheong Wa Dae, gov't agencies attacked

The Web sites of South Korea's presidential office, government agencies and financial institutions came under a cyber attack on Friday, industry sources said.   The presidential office Cheong Wa Dae, the Ministry of Foreign Affairs and Trade and top lender Kookmin Bank were among some 40 institutions whose Web sites were infected by the so-called distributed denial-of-service (DDoS) from 10 a.m.,

TechnologyMarch 4, 2011

(URGENT) Web sites of Cheong Wa Dae, 40 agencies come under DDoS

(URGENT) Web sites of Cheong Wa Dae, 40 agencies come under DDoS

TechnologyMarch 4, 2011

Competition beefs up between Samsung, Apple

Competition is beefing up between two global electronics rivals Samsung Electronics and Apple Inc. after the U.S.-based firm’s chief executive Steve Jobs singled out its competitors while launching the iPad 2 on Wednesday.“Samsung put (a tablet) out last year,” said the 56-year-old CEO in his first public appearance since taking a medical leave on Jan. 17.Then quoting Lee Young-hee, Samsung’s vice

IndustryMarch 3, 2011

Regulator warns against excessive bank competition

FSS chief blasts Shinhan for stock options given to ex-chairFinancial Supervisory Service Gov. Kim Jong-chang on Thursday issued a strong warning against excessive competition and executive compensation among commercial banks.In a meeting with bank CEOs in Seoul the nation’s chief financial regulator cautioned that banks should refrain from behavior that could destabilize their finances and furthe

March 3, 2011

Seoul shares rebound on recovery hopes

Korean stocks closed 2.2 percent higher on Thursday, recouping losses from earlier this week, as a series of encouraging economic data spurred strong foreign and institutional buying, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 42.42 points to 1,970.66. Trading volume was moderate at 277.2 million shares worth 5.13 t

March 3, 2011

Hynix seeks delay of patent trial

Hynix Semiconductor Inc., Micron Technology Inc. and Nanya Technology Corp. asked a federal judge in California to delay a patent-infringement trial scheduled for May 2 over claims brought by Rambus Inc. Jared Bobrow, a lawyer representing the memory-chip makers, said in a letter Wednesday to U.S. District Judge Ronald M. Whyte in San Jose, California, that the trial should be taken “off calendar”

March 3, 2011

Korea to spend W9b on renewable energy projects

The government will set up a 9 billion won ($7.8 million) fund this year to assist local firms’ clean energy projects overseas. The government’s latest move is part of the country’s efforts to make $40 billion from exports related to renewable energy such as photovoltaic and wind power by 2015.“The global renewable energy market is projected to be highly prospective, and thus will likely push up t

IndustryMarch 3, 2011

Korean, Japanese firms to buy Brazilian rare metal miner

The National Pension Service and POSCO will acquire 5 percent stakes in a Brazilian producer of a rare earth metal used in steel, oil pipes and automotive components, they said on Thursday.They will each invest 400 billion won ($356 million) to acquire 5 percent of Brazil’s Companhia Brasileira de Metalurgia e Mineracao, the world’s largest producer of the scarce mineral niobium.CBMM controls the

IndustryMarch 3, 2011

Korean airlines plan massive recruitment

The country’s air carriers are planning to recruit the highest-ever number of new employees this year, thanks to their record-breaking earnings reached in 2010.Korean Air is expected to hire up to 2,700 new workers, including flight attendants, pilots and technicians, in 2011.The nation’s No. 1 local airline employed 2,300 new hires last year and 2,050 new employees in 2009.Asiana Airlines, the se

IndustryMarch 3, 2011

Businesses declare energy emergency

Korea’s business community declared an “energy emergency” Thursday, pledging to implement energy conservation measures to help the country cope with high-flying oil prices.The resource-poor country relies almost entirely on imports for its oil needs, with 82 percent being imported from the Middle East.In a meeting with Knowledge Economy Minister Choi Joong-kyung in Seoul, business leaders from the

IndustryMarch 3, 2011

Foreigners turn to big net stock sellers

Foreign investors swung to massive net selling of Korean stocks in February as mounting inflation threats and political uprisings in Arab countries put a damper on sentiment, the financial regulator said Thursday. Foreigners pulled 3.7 trillion won ($3.3 billion) of Korean shares out of the local bourse last month, compared with net buying worth 1.4 trillion in January, the Financial Supervisory S

March 3, 2011

Korea urges 3-way FTA with Japan, China

Korea needs to sign a three-way free trade deal with Japan and China in a bid to boost prosperity in Asia and better prepare for external shocks, a senior finance ministry official said Thursday.“Economic integration should be pursued to help the East Asian countries flexibly deal with global uncertainties and realize their co-prosperity in this region,” Vice Finance Minister Yim Jong-yong told an

March 3, 2011

Asan hospital adopts new Gamma knife

The Asan Medical Center has adopted the cutting-edge Gamma knife device, “Perfexion” for its Gamma Knife Center.The center, which has recently marked 5,000 cases of operation for the first time in the nation, said the device will enhance accuracy and sophistication in the surgery room. Gamma Knife is a radiosurgical treatment that delivers a dose of gamma radiation to the target with surgical prec

TechnologyMarch 3, 2011

Fertility treatment ‘Elonva’ approved

Elonva, infertility treatment by MSD-Korea, the Korean branch of the Merck & Co., gained the Korea Food and Drug Administration’s approval last week, the company said Monday. The follitropin beta (gene recombination)-based injection was proven effective for controlled ovarian stimulation (COS) on women receiving assisted reproductive technology. The drug can replace the seven-session injection of

TechnologyMarch 3, 2011

SNU develops Parkinson’s treatment

Seoul National University Hospital’s Parkinson Center said Monday it has developed an original DBS Electrode Location Analysis System to treat Parkinson’s disease and will provide an international service online at http://delas.ondemand3d.com.The DELAS method involves transplantation of a 1.27 millimeter-thin electrode to the focus of the brain and providing constant electrostimulation to it. The

TechnologyMarch 3, 2011