Top-ranking pharmaceutical companies in Korea are expected to prune their workforces in the face of challenges both at home and abroad including sluggish economic conditions and a number of deep-seated shortcomings that are finally being addressed. GlaxoSmithKline, the largest pharmaceutical company in Korea in terms of sales, is planning to hand out early retirement packages to up to 100 employees — more than 10 percent of its workforce of 750 — before the year is over. The firm is currently re

IndustryDec. 17, 2012

People who watch Internet pornography may suffer from short-term memory loss immediately afterward, German scientists have claimed.Researchers from University of Duisberg-Essen conducted a study where they asked 28 German heterosexual men to look at a series of sexual images mixed with non-sexual images such as people laughing, playing sports or carrying a weapon. The average age of participants was 26.The participants were then asked to answer “yes” or “no” on whether or not the image they were

TechnologyDec. 17, 2012

Diet Pepsi is quietly changing its sweetener ahead of a major rebranding of the soft drink set for next month.The change comes as PepsiCo Inc. looks to reinvigorate its namesake brands after losing market share to Coca-Cola Co. in recent years.Cans of Diet Pepsi around the country now list a mix of two artificial sweeteners, a pairing that is commonly found in newer diet sodas. Previously, Diet Pepsi used only aspartame, which is sensitive to heat and breaks down more easily.This summer, PepsiCo

IndustryDec. 17, 2012

To millions of people, the Christmas tree is a cheerful sight. To scientists who decipher the DNA codes of plants and animals, it’s a monster.We’re talking about the conifer, the umbrella term for cone-bearing trees like the spruce, fir, pine, cypress and cedar. Apart from their Yuletide popularity, they play big roles in the lumber industry and in healthy forest ecosystems.Scientists would love to identify the billions of building blocks that make up the DNA of a conifer. That’s called sequenci

TechnologyDec. 16, 2012

Korean scientists have discovered the role of a hormone that could help develop medicines to treat and cure diabetes and obesity-associated diseases.Dr. Lee Myung-sik of Samsung Medical Center, who is also a professor at Sungkyunkwan University School of Medicine, led a study into “mitokine” signals, which are sent by cells having trouble with their metabolism. They identified that the signal involved a hormone, encoded as the fibroblast growth factor 21, or FGF21. The hormone is induced by mito

TechnologyDec. 16, 2012

Korea Exchange Bank opened a branch in Abu Dhabi, UAE, last week, the first time a Korean financial firm has done so in the Middle Eastern city.The bank said in a statement that the Abu Dhabi branch was an extension of the overseas marketing plans of KEB president and CEO Yun Yong-ro. “KEB Abu Dhabi is expected to play a key role in developing the economy of the UAE and supporting Korean companies to advance into countries with great potential such as (those in) Africa,” said Yun during a speech

Dec. 16, 2012

The release of the iPhone 5 as unlocked and contract-free form is being eyed as to whether it will stir up competition in the market of mobile virtual network operators, which offer more affordable wireless payment plans.Apple’s iPhone 5 handsets, without any kind of contract with mobile carriers, went on sale in Korea on Friday.“As Korea decided to implement a system that enables consumers to pick their own handset and mobile carrier as well as mobile payment scheme starting this year, Apple ha

IndustryDec. 16, 2012

German automakers lagged behind their Japanese competitors in customer satisfaction in after-sales services in Korea, a vehicle research report showed Sunday.According to a yearly assessment by Marketing Insight based on a consumer survey on major carmakers, Volkswagen and BMW shared the lowest score of 746 out of 1,000 points in the after-sales sector.Audi and Mercedes-Benz posted 768 and 808 points, respectively, but none of the four German companies outperformed any of the five major Japanese

MobilityDec. 16, 2012

BUSAN ― Resounding with K-pop music, the production lines at Renault Samsung Motors’ Busan plant were full of energy Friday. With the recent launch of its new SM5 sedan, the Korean unit of the France-based Renault Group resumed overtime work at the factory last month for the first time in 11 months.“After a long time, the new SM5 is revitalizing factory workers here. We have continued working overtime since November,” said Oh Jik-youl, manufacturing chief of Renault Samsung.  Amid an almost 40

IndustryDec. 16, 2012

The ASEM SMEs Eco-Innovation Center, established by South Korea’s Small and Medium Business Administration in 2011 to promote eco-innovation in the ASEM member countries, has offered its eco-business consulting services for small and medium enterprises in Asia for the past two years. Behind the drive is ASEIC’s belief that SMEs play a critical role as dynamic developers and adopters of eco-innovation in the global economy. According to the OECD, eco-innovation is defined as innovation that resul

IndustryDec. 16, 2012

Korean and Chinese SMEs discussed ways to expand bilateral green partnerships in a forum on Nov. 29 in Qingdao, Shandong province, China. The forum, hosted by ASEIC, was held after the Chinese government pledged to invest in projects that would move it toward a green economy in July.According to China’s green road map, China will invest more than 2 trillion yuan ($315 billion) over the next five years into opportunities in the country’s burgeoning energy-saving sector. Under the road map, China

IndustryDec. 16, 2012