The Korea Herald

British UFO groups losing interest

One of Britain's foremost organizations for UFO experts said a meeting next week will discuss the waning popularity of the search for extraterrestrial life.Dave Wood, chairman of the Association for the Scientific Study of Anomalous Phenomena, said a meeting next week will discuss the waning popularity of the search for UFOs and the shuttering of several other groups dedicated to their study, The Daily Telegraph reported Monday."It is certainly a possibility that in 10 years time, it will be a d

TechnologyNov. 6, 2012

Women aged 24-34, the most stressed people in U.K.

A British news report said women aged between 24 and 34 are more stressed than anyone else in the U.K., citing a new study.According to the report, women at that age are usually climbing the career ladder at work, caring for young kids at home and paying a mortgage.Sixty-seven percent of the people in the U.K. suffer from stress every week and on average, British people get stressed 208 times a year, according to the study by herbal stress remedy company Kalms which was conducted on 2,000 adults

TechnologyNov. 6, 2012

Women aged 24-34, the most stressed people in U.K.

S. Korea’s risk premium falls to pre-crisis levels

South Korea's credit default risk has dropped to levels seen before the 2008 financial crisis erupted, mirroring its solid economic fundamentals, data showed Tuesday. The credit default swap (CDS) premium on the country's five-year Treasuries came to 65 basis points as of Nov. 2, the lowest in more than four years since the 64 basis points tallied in May 22, 2008, according to the Korea Center for International Finance (KCIF). The spread on CDS reflects the cost of hedging credit risks on sovere

Nov. 6, 2012

Cockatoo makes, uses tool to get food

A cockatoo from a species not known to use tools has been observed spontaneously making and using tools for reaching food, Austrian researchers say."Figaro," a Goffin's cockatoo raised in captivity near Vienna, uses his powerful beak to cut long splinters out of wooden beams or branches in its aviary to reach and rake in objects out of its reach, researchers report in the journal Current Biology."During our daily observation protocols, Figaro was playing with a small stone," study leader Alice A

TechnologyNov. 6, 2012

Microsoft, Apple tablets have most profit margins

Research firm IHS says Microsoft and Apple are garnering the highest profit margins for their tablets, followed to a lesser extent by Google and then Amazon.Microsoft Corp.‘s first self-made tablet, the Surface, costs about $267 in parts and labor when excluding its optional keyboard cover. It went on sale Oct. 26 priced at $499, for a profit margin of around 46 percent. Surface comes with a 10.6-inch (26.9-centimeter) screen measured diagonally, and can access the Internet only through Wi-Fi. T

TechnologyNov. 6, 2012

Microsoft, Apple tablets have most profit margins

S. Korea to gradually recover growth next year: IBs

Foreign investment banks (IBs) expect the South Korean economy to see its growth improve at a gradual pace next year, helped by global stimuli and the recovery of domestic demand, a report showed Tuesday.Morgan Stanley projected the monetary easing by the United States and China will improve global economic conditions, benefiting South Korea's exports, a main driver of the country's growth, according to a report by the Korea Center for International Finance.South Korea grew 0.2 percent on-quarte

Nov. 6, 2012

Seoul shares start higher ahead of U.S. election

South Korean stocks opened higher on Tuesday as policy uncertainties abated ahead of the imminent U.S. presidential vote, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.78 points, or 0.2 percent, to trade at 1912.00 in the first 15 minutes of trading.Carmakers led the gain, with No.1 player Hyundai Motor moving up 1.75 percent, while its smaller affiliate Kia Motors gained 1.24 percent. Top auto parts maker Hyundai Mobis climbed 1.16 percent. U.S. stocks ended hig

Nov. 6, 2012

Mysterious whales seen in New Zealand

A whale almost unknown to science was seen for the first time after a mother and a male calf were stranded and died on a New Zealand beach, scientists said.They were spade-toothed beaked whales, Mesoplodon traversii, a species previously known only from a few bones, researchers at the University of Auckland said."This is the first time this species -- a whale over 5 meters (16 feet) in length -- has ever been seen as a complete specimen and we were lucky enough to find two of them," Rochelle Co

TechnologyNov. 6, 2012

Big 4 grab 66.4% of import car market

Amid the rapid growth of the import car industry, the sales gap between the top four German brands and other players widened over the past year, according to the October data of a lobby group for foreign automakers.The four major German carmakers ― BMW, Mercedes-Benz, Volkswagen and Audi ― captured 66.4 percent of the local import automobile market last month among 24 members of the Korea Automobile Importers & Distributors Association.The top four brands’ combined market share climbed 5.3 perce

IndustryNov. 5, 2012

Korea’s foreign reserves hit new high in October

South Korea’s foreign reserves hit a new high in October led by high investment profits, according to the nation’s central bank.The Bank of Korea announced on Monday that the nation’s foreign reserves reached $323.46 billion in October, which is an increase of $1.45 billion compared to the previous month. Foreign reserves marked $316.84 billion in April and $316.88 billion in August. “The growth of investment profits brought up the reserves despite the marginal fall of the dollar conversion valu

Nov. 5, 2012

Korea’s foreign reserves hit new high in October

KT’s net profit jumps 45.6 percent in Q3

South Korean telecom giant KT Corp. on Monday reported a 45.6 percent surge in its third-quarter earnings, driven by a profit increase in its wireless business and affiliates such as BC Card.Net profit came to 372.3 billion won ($340.9 million), compared with 255.7 billion won a year ago, the No. 2 mobile carrier and top fixed-line operator said in a regulatory filing. Sales increased 30.6 percent on-year to 6.5 trillion won over the cited period, and operating profit gained 4.3 percent to 538.8

Nov. 5, 2012

KEB 2X cardholders surpass 500,000

The number of holders of Korea Exchange Bank’s 2X card exceeded the 500,000 mark just five months after its launch, KEB announced Monday. The 2X Card appeals to three different customer segments based on age and lifestyle, and accordingly, comes in three types: Alpha, Beta, and Gamma. Customers using any of the three types of 2X Card for six consecutive months will see their benefits double. To celebrate the occasion, KEB unrolled a series of promotional events to run through December. Customers

IndustryNov. 5, 2012

Samsung sees record monthly TV sales in U.S.

Samsung Electronics Co., the world’s top maker of smartphones, computer memory chips and flat-panel TVs, said Monday it sold a record 1.15 million TVs in the U.S. market in October.The monthly figure comes after Samsung broke the 1-million mark for the first time in October last year, the company said.Samsung attributed the rosy figure to enhanced marketing efforts for larger, premium TV models, such as the 75-inch ES9000 smart TV.Meanwhile, the sales data come as the global TV industry is under

Nov. 5, 2012

Shares dip 0.55% on auto falls

South Korean stocks closed 0.55 percent lower on Monday as key automakers Hyundai Motor and Kia Motors tumbled after U.S. officials found they exaggerated the fuel efficiency of their latest models, analysts said. The local currency slipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 10.5 points to 1,908.22. Trading volume was light at 336 million shares worth 4.54 trillion won ($4.16 billion), with decliners outnumbering gainers 447 to 369.“Since Hyundai and Kia

Nov. 5, 2012

Korea to allow launch of cooperatives from Dec.

South Korea will permit the launch of cooperatives starting next month, providing additional channels for people to start small businesses leaning toward democratic ownership and public interest, the Finance Ministry said Monday.A related law will go into effect on Dec. 1, and the central and municipal governments will immediately begin receiving applications and registrations for the launch of cooperatives, according to the ministry.Under the law, five people or more can start “general cooperat

Nov. 5, 2012

Korea supports redevelopment of mines to secure minerals

JECHEON ― The Korean government is speeding up the reopening of closed mines that were shut due to lack of profitability, to re-build domestic supply channels for strategic minerals critical for manufacturing.The initiative to redevelop the mines was launched by the Ministry of Knowledge Economy in 2008. The drive is in line with the ministry’s strategy to increase mineral self-sufficiency. For this, the ministry also has increased investment in mineral development projects overseas. The ministr

Nov. 5, 2012

Korea supports redevelopment of mines to secure minerals

FSC criticized for lax supervision of brokerages

Financial regulators were under criticism for their apparently negligent supervision of the brokerage industry as evidence of a group of securities firms’ interest rate-fixing was revealed by antitrust regulators.Last Sunday, 20 local securities firms were reprimanded by the Fair Trade Commission with fines amounting to a combined 19.2 billion won ($17.5 million) for colluding to fix rates on some “small-denomination bonds.”The antitrust regulator also filed a complaint with the prosecution agai

Nov. 5, 2012

Hyundai rushes to respond to mileage errors

Hyundai Motor Group is moving to minimize the impact of the gas mileage overstatement after admitting last week to “errors” regarding some 900,000 vehicles it sold in the U.S. between 2010 and 2012. The American unit of the Korean auto giant issued a public apology in major U.S. newspapers, while the group chairman Chung Mong-koo summoned executives for an urgent meeting in Seoul on Monday. On Friday, the carmaker apologized to customers after the U.S. Environmental Protection Agency found error

IndustryNov. 5, 2012

Hyundai rushes to respond to mileage errors

Foreign investors turn net sellers of Korean stocks

Foreign investors turned net sellers of local stocks last month, stemming a two-month straight buying binge due largely to persisting global uncertainties, the financial regulator said Monday. Overseas investors dumped a net 1.1 trillion won ($1.0 billion) worth of local equities in October, the largest net selling since the 3.38 trillion won tallied in May, according to the Financial Supervisory Service. Foreigners had remained net buyers for the two previous months, snapping up a net 9.6 trill

Nov. 5, 2012

Ford recalls small SUV Escape for sticking gas pedal

Ford Sales and Service Korea, the local importer and distributor of U.S. automaker Ford Motor Co., will voluntarily recall certain models of its small sport utility vehicle the Escape to fix sticking gas pedals that could cause crashes, the Seoul government said Monday.Subject to the recall, starting from Tuesday, are 687 units manufactured between April 19, 2001 and Dec. 12, 2004, according to the Ministry of Land, Transport and Maritime Affairs.The cruise control cables in the vehicles can get

Nov. 5, 2012