The Korea Herald

Imported tobacco products see market share decline

Three major foreign cigarette producers in Korea have yielded some of their market share to Korean brand KT&G, following their hike of prices for their products.According to cigarette industry data, the three players ― Philip Morris, British American Tobacco and Japan Tobacco International ― posted 35.3 percent in combined market share in January, down from 40.4 percent from a year before.Philip Morris reported a drop from 22.7 percent in January 2012 to 19.3 percent in January 2013. The shares

IndustryFeb. 11, 2013

Korea’s export prospects strong despite weak yen

Korea has a number of factors to mitigate the current won-yen exchange rates that daunt Korean exporters, said Tai Hui, chief Asia market strategist at JPMorgan Asset Management.Mounting concerns over the weakening yen have led to a cautious outlook by Korean companies. However, Hui concluded that the global economic conditions are looking favorable for the Korean economy, as well as the country’s asset market for the rest of 2013.“For investors in Korea, the market may still come under pressure

Feb. 11, 2013

Korea’s export prospects strong despite weak yen

Mahindra and Korea’s foreign investment dilemma

Thursday will be a big day for Ssangyong Motor, as a critical board of directors’ meeting is scheduled to review Ssangyong’s 2012 performance.More importantly, it will be the day Ssangyong’s largest shareholder Mahindra & Mahindra of India decides on whether to perform a capital increase of up to 1 trillion won ($890 million).The capital injection, to be endowed over a period of four years once approved, is more or less symbolic: It’s chiefly about Mahindra’s commitment, or lack thereof. Mahind

IndustryFeb. 11, 2013

Mahindra and Korea’s foreign investment dilemma

Brain scanning reveals the secret of long-lasting love: study

A study conducted by U.S. scientists claimed a couple’s longevity can be identified by scanning their brain.The study asked 12 volunteers who have been passionately in love for more than a year to look at their lover’s picture while conducting a brain scan through magnetic resonance imaging. The scientists found each person has a different spot in their brain that is active.When the caudate tail, the part of the brain that responds to visual aesthetic elements, is more active than the medial orb

TechnologyFeb. 11, 2013

Brain scanning reveals the secret of long-lasting love: study

3 in 10 tourism-related businesses see worse conditions in 2013

Three out of 10 South Korean hotels and other tourism-related businesses said they could face a slump this year due to the global economic slowdown and the local currency's ascent against the U.S. dollar, a poll showed Sunday.The survey of 305 hotels, tour operators and tourism-related businesses by the Korea Culture and Tourism Institute in November found that 30.2 percent of the respondents said the tourism industry could suffer a slump.The institute, affiliated with the Ministry of Culture, S

Feb. 10, 2013

Samsung to collaborate with Alexander Wang: report

Samsung will seek partnership with fashion designer Alexander Wang to create a new print based on doodles, sketches, and photographs sent via smartphone by fashion celebrities around the world, The New York Times reported on its Saturday edition.The designer's collaborators will participate in the project by sending ideas on Samsung Galaxy Note II smartphones to design "a limited-collection bag," it said.Proceeds from sales of the bag will be donated to an art charity for children in New York, i

IndustryFeb. 10, 2013

Carriers to introduce 23 new aircraft this year

South Korean airlines plan to introduce 23 new aircraft this year as they seek to meet growing demand for air travel at home and abroad, data showed Sunday.Korean Air Lines Co., the country's top air carrier, has said it plans to introduce two Airbus A380 passenger jets, five other passenger jets and two cargo planes this year, according to data posted on its Web site.The planned delivery of the Airbus A380 passenger jets would raise Korean Air's superjumbo fleet to eight.Asiana Airlines Inc., S

IndustryFeb. 10, 2013

Carriers to introduce 23 new aircraft this year

China likely to become world's largest economy by 2017: report

China will likely become the world's largest economy by 2017, overtaking the economic powerhouse U.S., a report showed Sunday.Professional services firm PricewaterhouseCoopers (PWC) said in a report that China's gross domestic product measured on a purchasing power parity (PPP) basis will be nearly US$20 trillion, surpassing the comparable figure for the U.S.By 2030, the world's three largest economies on PPP basis will be China with $30.6 trillion, the U.S. with $23.4 trillion and India with $1

Feb. 10, 2013

Google chairman to sell up to 3.2 million shares

SAN FRANCISCO (AP) _ With Google's stock hovering at record highs, Executive Chairman Eric Schmidt plans to sell more than 40 percent of his stock in the Internet search leader this year.The plan disclosed Friday calls for Schmidt to sell up to 3.2 million shares. If he were to sell all that stock at Google's current price, Schmidt would realize a $2.5 billion windfall.Schmidt ended December with 7.6 million Google shares, or a 2.3 percent stake in the Mountain View, California, company.He would

Feb. 9, 2013

Google chairman to sell up to 3.2 million shares

Goldman Sachs cuts growth outlook for Korea

The South Korean economy is likely to expand at a slower pace than expected this year due to the negative impact of the Japanese currency's depreciation on its overseas shipments, Goldman Sachs said Friday.In its latest forecast, the global investment bank said Asia's fourth-largest economy will likely grow 3.1 percent this year, down from its earlier estimate of 3.4 percent made in December.Kwon Goo-hoon, the managing director and co-head of research at Goldman Sachs Asia, attributed the lower

Feb. 8, 2013

BOK offers net 4.35 tln won in liquidity ahead of holiday

South Korea's central bank said Friday it provided a net 4.35 trillion won (US$3.98 billion) in liquidity into the financial system to help money smoothly flow ahead of the Lunar New Year holiday.The Bank of Korea (BOK) said that its money injection for the 10 business days leading up to the holiday was slightly down from a net 4.39 trillion won provided the previous year.The BOK said the reduced supply mainly came as this year's Lunar New Year holiday is one day shorter than last year.The Lunar

Feb. 8, 2013

Kia unveils hybrid concept car at Chicago auto show

Kia Motors Corp., South Korea's second-largest automaker, said Friday that it has unveiled a concept car of its large hybrid crossover vehicle at the Chicago Auto Show as it looks into offering a full-size luxury crossover.The Cross GT -- 8.4 inches longer, 4.9 inches wider and 1.6 inches shorter than Kia's award-winning Sorento -- features Kia's signature grille and cuts an imposing figure."The debut of the GT in 2011 heralded a new frontier for Kia, both from a design and a business perspectiv

BusinessFeb. 8, 2013

Yongsan development project still faces uncertain future

The nation’s biggest property development project to build an international business district in Yongsan, central Seoul, by 2016 is fending off bankruptcy amid difficulties in financing the construction of the landmark 150-story Dream Tower, the centerpiece of the project.The board of Dream Hub, which is responsible for the financing and planning of the Yongsan development project, convened a meeting Thursday to discuss ways to extend a lifeline to the project, but failed to draw an agreement. I

IndustryFeb. 7, 2013

Yongsan development project still faces uncertain future

[Newsmaker] Shinsegae chief faces stormy seas in court

Shinsegae Group vice chairman Chung Yong-jin is facing rough seas since taking the helm of the nation’s second-largest retail giant.The prosecution grilled him for 12 hours on Tuesday over allegations that he ordered Shinsegae affiliates to charge their sister bakery firm Shinsegae SVN cheaper commissions to help turn it around.On Thursday, the Seoul Regional Labor Administration raided Shinsegae E-Mart headquarters and several E-Mart stores to search for evidence that the company had spied on i

IndustryFeb. 7, 2013

[Newsmaker] Shinsegae chief faces stormy seas in court

Scientists ‘print’ 3-D object with stem cells

PARIS (AFP) ― Scientists on Monday said that for the first time they had printed 3D objects using human embryonic stem cells, furthering the quest to fabricate transplantable organs.Once fine-tuned, the technology should allow scientists to make three-dimensional human tissue in the lab, eliminating the need for organ donation or testing on animals, they reported.Human embryonic stem cells (hESCs) can replicate indefinitely and become almost any type of cell in the human body.They are touted as

TechnologyFeb. 7, 2013

Park’s nuclear power plan triggers safety concerns

President-elect Park Geun-hye is under growing pressure to revise her nuclear energy governance plan widely criticized as weakening safety regulations and research capabilities.Part of a sweeping government reorganization plan, the presidential transition committee proposed last month a change to the status of the Nuclear Safety and Security Commission. If the plan goes ahead, the currently presidential body will be degraded into a body affiliated to a newly created super-ministry in charge of p

TechnologyFeb. 7, 2013

Park’s nuclear power plan triggers safety concerns

Herniation of the spinal disk

The word “disk,” which Koreans often misuse as a name of a condition, refers to the structure that connects the bones in the spine. The correct term for the condition is “spine herniation of the intervertebral disk.” Degenerative change of the lumbar disk is the most common cause of the problem and occurs in people in their late teens to their early 20s. The prevalence of herniation of the intervertebral disk increases significantly in the twenties up to the forties when people are more physical

TechnologyFeb. 7, 2013

Couch potatoes have lower sperm counts

PARIS (AFP) ― Men who watch television for 20 hours per week have almost half the sperm count of those who watch very little television or none at all, according to a study published on Tuesday.U.S. researchers recruited 189 young men aged between 18 to 22, questioned them about their exercise, diet and TV habits and asked them to provide a sperm sample.Men in the top quarter of TV-watchers ― those who watched for 20 hours or more ― had a 44-percent lower sperm count than those who watched least

TechnologyFeb. 7, 2013

Sleep could prevent age-related memory loss

Forgetfulness is viewed by many as an inevitable part of getting older. But a new study has found there may be a way to help stem age-related memory decline ― and it could be as simple as getting a good night’s sleep.The study, led by neuroscientists at the University of California, Berkeley, examined the relationship between memory retention, age and the quality of an individual’s slow wave non-rapid eye movement sleep.“We wanted to understand whether sleep was a chief factor in memory loss,” e

TechnologyFeb. 7, 2013

Sleep could prevent age-related memory loss

Korea tourism revenue hits record high

Korea posted record tourism revenue last year, thanks to the popularity of hallyu, or the Korean Wave, and aggressive marketing, according to the Bank of Korea.The country’s inbound tourism brought in more than $14.2 billion in 2012, up 13.6 percent from $12.5 billion a year earlier.This means that the tourism sector was earning more than $1 billion monthly for the first time.The record high earning has contributed to decreasing the travel account deficit to some $5.9 billion last year, from $7.

Feb. 7, 2013