Apple’s iPhone 5 is finally expected to hit the local market early next month, three months after its initial unveiling in San Francisco.Industry sources said the handset with a bigger 4-inch display will be available in Korea possibly on Dec. 7 through local mobile carriers SK Telecom and KT.Running on the fourth-generation Long Term Evolution networks, the iPhone 5, first released in September, is the Cupertino-based firm’s thinnest and lightest addition to its iPhone lineup.However, the launc

IndustryNov. 22, 2012

Saenuri Party leader Park Geun-hye’s latest decision to steer clear of some of the key policies for reforming chaebol touched off harsh criticism about her true intentions, but the head of Chaebul.com chose to adopt a more realistic perspective on the matter.“The shift reflects a two-track policy for simultaneously pursuing economic growth and fair competition, and frankly, the most realistic methodology for keeping the economy on track while at the same time, promoting fair competition,” said C

IndustryNov. 22, 2012

Amore Pacific’s tea business has enjoyed double-digit growth since 2008, while the overall tea industry here has been waning, especially compared to that of China and Japan. To pave the way through the expected market stagnation, the South Korean cosmetics company focused on organic cultivation and quality innovation, according to company officials. As a result of intense research and effort, the whole of its 1.8 million square meter tea garden, where the company has grown green tea since it was

IndustryNov. 22, 2012

When the winter chill begins to settle in the air, nothing’s better than a mug of steaming hot tea. But that is not the only reason South Korea’s youngsters flock to Osulloc Teahouses, a cafe chain run by the nation’s largest cosmetics company Amore Pacific. The first Osulloc Teahouse opened in Myeong-dong, central Seoul, in 2004 was favorably received among the public for its unique ambience embracing both traditional and modern sentiments of the tea-loving nation. The cosmetics company soon ex

IndustryNov. 22, 2012

Sales of Shin Ramyun Black Cup are skyrocketing, thanks to music sensation Psy. The product, produced by Nongshim, the nation’s No.1 instant noodle maker, marked 2 billion won in sales in October, according to market researcher AC Nielsen Korea. That is a jump of more than 30 percent from the previous month. The product’s sales began surging after the advertising campaign featuring Psy first went on air on Oct. 13, said Nongshim officials.  Shin Ramyun Black climbed to sixth place in instant cup

IndustryNov. 22, 2012

Germany’s three premium automobile brands are targeting the middle-income bracket and young consumers in Korea, following the outstanding growth in their sales of upper segment sedans.While the small segment import car market has been dominated by cars like the Volkswagen Golf, the MINI series and the Nissan Cube, the three brands ― BMW, Mercedes-Benz and Audi ― are poised to join the cheaper car sales competition.BMW Group Korea started the war among the big three by recently introducing the se

MobilityNov. 22, 2012

Samsung Electronics chairman Lee Kun-hee met with Patrick Baumann, a Swiss International Olympic Committee member, at his residence in Hannam-dong, central Seoul, on Wednesday, said Samsung Group officials.They shared opinions on the direction for future development involving international sports events such as the Olympics in the meeting, the officials said.Baumann, secretary general of the global basketball organization FIBA, is an expert in the international sports community who became a memb

IndustryNov. 22, 2012

Muscular men are likely to enjoy a longer life span, according to a study in Sweden. The study underlined it does not imply any extreme workout will be always beneficial, but the general strength of muscle is important.To measure muscle power, the team carried out several tests such as push-ups or leg curls. More than 1 million men aged 16 to 19 participated in this study and they were tracked for 24 years. The study revealed that those with above-average muscle strength tend to have a 20 to 30

TechnologyNov. 22, 2012

A South Pacific island identified on Google Earth and world maps does not exist, according to Australian scientists who went searching for the mystery landmass during a geological expedition.The sizeable phantom island in the Coral Sea is shown as Sandy Island on Google Earth and Google maps, supposedly midway between Australia and the French-governed New Caledonia.The Times Atlas of the World appears to identify it as Sable Island and according to Dr. Maria Seton the weather maps used by the So

TechnologyNov. 22, 2012

More than seven of every 10 foreign residents in South Korea are currently employed with nearly half of them working in the manufacturing industry, a government report showed Thursday.According to the report released by Statistics Korea, there were a little more than 1.11 million foreigners aged 15 years or more with work permits in South Korea as of the end of June.Of that total, some 791,000 were employed, posting an overall employment rate of 71 percent at the time of the country‘s first surv

IndustryNov. 22, 2012

More service and sales workers in South Korea smoke than those in other job groups, a report said Thursday, suggesting occupation-specific measures should be taken to encourage people to kick the habit.The smoking rate of male service and sales workers aged 19-34 was 62.6 percent, topping that of people in other job groups, according to the report by Prof. Kim Seong-ryeol of Soonchunhyang University. The report is based on a survey of 9,283 people aged 19 years or older throughout the country.Th

TechnologyNov. 22, 2012