About 15 percent of the nation’s 600 major enterprises said they plan to conduct corporate restructuring amid growing uncertainties at home and abroad next year, a poll showed Thursday.According to a survey on the 600 largest firms ― in terms of sales scale ― by the Federation of Korean Industries, 62 percent of the respondents said the business environment was projected to worsen next year.The FKI, a business lobby, said it has found that 15 percent of the respondents are mapping out plans for

IndustryNov. 15, 2012

Hanwha Engineering and Construction may be a latecomer in overseas construction markets. But it is Korea’s fastest growing builder, and has seen its accumulated orders exceed those of its Korean rivals this year. Hanwha E&C, a construction unit of Hanwha Group, said Wednesday that it has signed a $585 million deal to build an oil refinery and terminal in Saudi Arabia. Under the deal with Saudi Aramco, the world’s biggest oil producer, Hanwha will build the terminal that can process 400,000 barre

IndustryNov. 15, 2012

South Korea’s outdoor sportswear market is growing explosively, and so is confusion about what is worth what. Brands in the nearly 5 trillion won ($4.6 billion) market are polarizing in terms of price; the high-end insists that the materials used in its products are inarguably the best, while the relatively low-end argues that its materials are not any less good. Consumers are lost and confused. “I was planning to buy matching mountain-climbing jackets for my parents, but gave up because I could

IndustryNov. 15, 2012

Health officials all around the world have introduced a variety of policies to reduce smoking rates: warning labels and graphic, almost grotesque images on cigarette packs, campaigns, and many countries including South Korea have banned or are pushing to ban smoking in public places.One researcher from Australia, however, has gone so far as to say people should carry a license if they want to buy cigarettes.Simon Chapman, a professor of public health at the University of Sydney, said it is possi

TechnologyNov. 15, 2012

An international report released by the Canadian Cancer Society ranked Australia for best cigarette package health warnings, officials say.The report ranked 198 countries and jurisdictions on the size of their health warnings on cigarette packages. Australia led all the countries with more than 82 percent of their cigarette packages covered with health warnings, followed by: 80 percent in Uruguay, 80 percent in Sri Lanka, 75 percent in Canada and 75 percent in Brunei. The report was released at

TechnologyNov. 15, 2012

Georgia Tech researchers, in a cyberthreat forecast for 2013, warn new and increasingly sophisticated means to capture and exploit user data will be seen.The report was released at the annual Georgia Tech Institute of Technology Cyber Security Summit, a gathering of industry and academic leaders in the field of cybersecurity.Specific threats predicted for the coming year include cloud-based botnets of virtual attack systems, manipulation of search-engine algorithms and other automated mechanisms

TechnologyNov. 15, 2012

MONTREAL (UPI) -- A “homeless” planet that is not orbiting a star and thus is free of any gravitation link has been discovered, Canadian and European astronomers are reporting.University of Montreal researchers and European colleagues said it is the first isolated planet of its kind ever to be observed.“Although theorists had established the existence of this type of very cold and young planet, one had never been observed until today,” astrophysicist Etienne Artigau said in a University of Montr

TechnologyNov. 15, 2012

South Korea’s labor market growth remained sluggish as job creation slowed in October compared to the previous month, according to a government report. Statistics Korea’s report released on Wednesday showed that the total number of employed last month was 25.07 million, with about 396,000 new jobs added to the economy. Job growth had reached 685,000 in September, the biggest figure in a decade. The employment rate in the manufacturing sector, however, increased by 3.6 percent year-on-year. By Pa

Nov. 14, 2012

The biggest scholarship foundation in Asia, with a 1 trillion won ($1.1 billion) fund, will be launched in Korea within three years, according to plans by Kwanjeong Educational Foundation, which runs the nation’s biggest scholarship fund.SamYoung Chemical chairman Lee Chong-hwan, who established the foundation in 2000, said on Sunday that he would make additional contributions to the foundation to expand the current 800 billion won ($730 million) fund to 1 trillion won within three years.  “With

Nov. 14, 2012

Samsung Electronics’ mobile chief Shin Jong-kyun on Wednesday ruled out the possibility that it will sign a licensing pact involving its global patent litigation with its rival Apple Inc.Shin said the company has “completely no intention” of participating in negotiations with Apple when asked about its future road map involving the global patent battles staged in nine different countries.“I’m not sure if it’s true that HTC has agreed to pay up to 300 billion won ($276 million) per year (in royal

IndustryNov. 14, 2012