The Korea Herald

Overseas investors threat or opportunity?

A company’s national identity has become more complex now that the majority of the country’s top 30 enterprises are replete in foreign investment. Overseas investors hold more than a 50 percent stake in some of the largest companies here. Well-known names such as Samsung Electronics, KB Kookmin Bank, KT Corp., Hyundai Motor, LG Electronics and POSCO are now better identified as “global firms” due to the significant percentage of foreign shareholders.“Foreign shareholders are now almost a part of

IndustryNov. 8, 2012

Overseas investors threat or opportunity?

’Smart pills’ concern U.K. experts　

The research field of human enhancement, which lets people work without tiring and recall every conversation, is moving fast and will be a tangible reality to prepare for, experts said. Recently introduced “smart” pills, originally made for dementia patients, are already widely used for students who want to stay up late studying. One commonly used “smart” drug is modafinil (brand name Provigil), which is normally prescribed for sleep disorders, and another is the drug methylphenidate (brand name

TechnologyNov. 8, 2012

Newfound “Super-Earth” may be habitable for life

An exoplanet that may be capable of supporting life has been found, according to European researchers.The distance between the planet HD 40307g and its host star HD 40307 suggests the planet may have liquid water on its surface, according to a study led by Mikko Tuomi of the University of Hertfordshire in the United Kingdom. This increases the possibility that the planet may support living organisms.“The longer orbit of the new planet means that its climate and atmosphere may be just right to su

TechnologyNov. 8, 2012

Newfound “Super-Earth” may be habitable for life

Wi-Fi, heat from laptop damage sperm

A British couple who struggled to have a baby for six months were stunned when doctors said their laptop was to blame. Scott Reed, the 30-year-old electrician, was told that using his computer on his lap caused heat damage to his sperm. After he went through an examination from the hospital, he started using his laptop on a table instead and three months later his wife became pregnant with the couple’s daughter. “When the doctors told us it was a real shock. Scott would use his laptop in the eve

TechnologyNov. 8, 2012

Online persona can affect real life

Creating a persona in the virtual world can influence a person’s actual life, according to a new study by U.S. researchers.Making an avatar in the online world allows an individual to easily try on new appearances and characteristics and may potentially push the person toward a more positive direction, claimed lead researcher Elizabeth Behm-Morawitz, assistant professor at the University of Missouri, who specializes in communications. “That alter-ego can then have a positive influence on a perso

TechnologyNov. 8, 2012

Foxconn says cannot meet demand for iPhone 5

Taiwan‘s Foxconn has admitted that it cannot meet strong demand for Apple’s new iPhone 5 due to difficulties in building the gadget, amid concerns over the U.S. giant‘s future earnings.“We can’t really fulfill Apple‘s requests. Our shipments are insufficient... given the huge market demand,” Foxconn chairman Terry Gou told reporters late Wednesday.He added that the design of iPhone 5, of which five million were sold over its launch weekend in September, has made the production difficult but did

TechnologyNov. 8, 2012

Foxconn says cannot meet demand for iPhone 5

Student use of attention drugs a problem

Amid growing concerns students are using medications such as Ritalin to boost performance, some British schools say they might consider drug tests before exams.Discussions have been held on how to detect students using drugs that allegedly give them an advantage by helping them remain alert and focused, Cambridge University Professor Barbara Sahakian said.Drugs meant to treat attention deficit-hyperactivity disorder are becoming increasingly popular with healthy people looking for an extra edge,

TechnologyNov. 8, 2012

Student use of attention drugs a problem

Slowdown sees surge in young economically inactive people

The ratio of people in their 20s not working and unwilling to find a job has jumped, data showed Wednesday, suggesting that tough employment conditions are hitting younger people harder than other age groups.According to the data by Statistics Korea, “economically inactive” people in their 20s accounted for 38.4 percent of the age group in September, up 0.7 percentage points from a year earlier. The figure is the highest since June.Economically inactive people refer to those who are not working

IndustryNov. 7, 2012

Slowdown sees surge in young economically inactive people

[Newsmaker] 4 retail chiefs shirk assembly hearing

Four chiefs of major retail giants were ordered to attend a parliamentary hearing Tuesday. But none of them showed up, citing overseas business trips.Lotte Group chairman Shin Dong-bin was visiting Indonesia for business talks with government officials there, while Chung Ji-sun, Hyundai Department Store Group chairman, was in China to discuss establishing a joint venture home shopping channel, according to company officials.Shinsegae Group vice chairman Chung Yong-jin also was said to have left

IndustryNov. 7, 2012

[Newsmaker] 4 retail chiefs shirk assembly hearing

Little change expected in Korea-U.S. economic ties

Korea and the United States were expected to undergo no drastic change in their economic relations after Barack Obama was reelected U.S. president, analysts in Seoul said Wednesday.Korea’s major economic think tanks forecast that U.S. President Obama’s reelection would help decrease uncertainties regarding his country’s economic policies. But they raised doubt over the outlook for the U.S. economy next year, which is a key factor for Korea’s continued economic growth. The U.S. is Korea’s second-

Nov. 7, 2012

LIG Insurance supports victims of Gumi toxic gas incident

LIG Insurance Co., a major local non-life insurance company, has donated funds it collected through ticket sales for a volleyball match to those affected by the leaked hydrofluoric acid incident in Gumi in October.LIG said the volleyball game was between Samsung Fire and Marine Insurance and NH Nonghyup and held at the Park Chung-hee Gymnasium in Gumi on Tuesday. The donation amount was not disclosed.Company officials said it organized the charity event in the hope of relieving the pains that pe

Nov. 7, 2012

Banks’ bad loan ratio gains in Q3

The ratio of bad loans extended by South Korean banks rose in the third quarter from three months earlier, largely due to a decrease in bad debt clearance, the financial regulator said Wednesday.The ratio of non-performing loans held by 18 local banks came to 1.56 percent as of the end of September, up 0.07 percentage point from 1.49 percent tallied as of end-June, according to the Financial Supervisory Service.The bad loan ratio had dropped to as much as 1.36 percent at the end of last year, be

Nov. 7, 2012

House prices drop 1.4 percent in October

Actual transaction prices of houses in South Korea declined last month, a state-run think tank said Wednesday, indicating that the country’s property market slump continues.According to a report by the Korea Development Institute, the actual transaction prices of houses in capital Seoul dropped 4.6 percent on-year in October, while those in its surrounding Gyeonggi Province and Incheon fell 4.5 percent and 5.8 percent, respectively.Transaction prices of houses outside the metropolitan area, mean

IndustryNov. 7, 2012

Builders’ domestic orders 16% in Sept.

Domestic orders won by South Korean construction companies fell 16.3 percent in September from a year earlier, industry data showed Wednesday, in the latest sign of a prolonged slump in the local construction sector.Local builders bagged a combined 7.26 trillion won ($6.6 billion) worth of new orders in September, according to data released by the Construction Association of Korea.Orders from the public sector plunged 37.9 percent on-year to 2.31 trillion won in September while those from the pr

IndustryNov. 7, 2012

Seoul shares up 0.49% following Obama’s win

South Korean stocks ended 0.49 percent higher on Wednesday as U.S. President Barack Obama’s re-election helped erase policy uncertainties, analysts said. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index rose 9.38 points to 1,937.55. Trading volume was moderate at 548.6 million shares worth 4.5 trillion won ($4.1 billion), with gainers outnumbering decliners 401 to 396.“Investor jitters over U.S. fiscal issues had lingered ahead of the presidentia

IndustryNov. 7, 2012

Reactor closures fuel power shortage worries

Worries over possible power shortages during winter flared up Wednesday as Korea was pressured to suspend the operation of two nuclear reactors for at least two months to replace substandard parts.The Ministry of Knowledge Economy said Monday it was temporarily shutting down two reactors at Yeonggwang Nuclear Power Plant on Monday due to the extensive use of substandard parts in the reactors.The cold season does not usually see as great an increase in electricity consumption as during the summer

IndustryNov. 7, 2012

TIDE showcases business ideas at Silicon Valley

Non-profit organization the TIDE Institute is holding its “2012 Startup Springboard” in Silicon Valley in the U.S., and in Shanghai, China, this month to support young South Koreans who wish to start up a business. Founded by Go San, a former astronaut trainee, the TIDE Institute has been hosting many events for the ambitious youth who wish to start technology-based businesses. The event for start-ups has been held in nine cities over the past two years including Boston, London and Tokyo. Engine

IndustryNov. 7, 2012

IT exports surge to 2-year high in Oct.

South Korea’s exports of information technology products rose to a 24-month high last month on a spike in shipments of mobile phones and semiconductors, the government said Wednesday.Exports of IT products in October grew 6.1 percent from the same period last year to US$14.55 billion, according to the Ministry of Knowledge Economy.Imports surged 10.9 percent on-year to $7.45 billion with the country’s trade surplus in the IT sector coming to $7.1 billion.The ministry attributed the surge in expo

IndustryNov. 7, 2012

Listed firms’ Q4 earnings expected to fare worse

South Korea’s listed companies are predicted to see their fourth-quarter earnings shrink from three months earlier due to the country’s weak exports amid the rising won, a research firm said Wednesday.According to FnGuide Inc., 114 major listed companies are forecast to report a combined operating profit of 30.4 trillion won ($27.9 billion) for the October-December period, down 4.9 percent from the third quarter.The gloomy earnings outlook comes as the prolonged appreciation of the local currenc

Nov. 7, 2012

FSC’s future hangs in the balance

The top financial regulatory entity is at stake as voices are rising to abolish or disassemble it in the upcoming administration. Presidential candidates and financial experts argued that the over-empowered Financial Services Commission should be repealed or split into two different organizations. A financial regulator should primarily be independent from the government and politically neutral, said Kim In-cheol, economics professor at Sungkyunkwan University and new president of the Korean Econ

Nov. 7, 2012