Most Popular
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Seoul blanketed by heaviest Nov. snow, with more expected
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NewJeans to terminate contract with Ador
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NewJeans terminates contract with Ador, embarks on new journey
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Seoul snowfall now third heaviest on record
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Korean Air gets European nod to become Northeast Asia’s largest airline
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Samsung shakes up management, commits to reviving chip business
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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Chaos unfolds as rare November snowstorm grips Korea for 2nd day
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BOK makes surprise 2nd rate cut to boost growth
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Renault-Nissan alliance plans to double cost savings by 2016
Renault SA and Nissan Motor Co. said they aim to double annual cost savings from their alliance within four years, while denying a Reuters report that they are reviewing their cross-shareholdings. “We have an internal goal of 4 billion euros ($5.2 billion) in synergies in 2016,” Rachel Konrad, an alliance spokeswoman, said by e-mail. “We expect more every year.” The two plan to boost synergies from their partnership to 2.1 billion euros this year from 1.7 billion euros in 2011.Renault is not loo
MobilityOct. 21, 2012
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Premium import car sales set for milestone
Foreign automakers expected to sell 10,000 units priced more than 100 million won in 2012Yearly sales of import cars with a price tag above 100 million won ($90,100) are expected to surpass 10,000 units for the first time in the nation.Amid the brisk sales of premium vehicles despite the economic slowdown, the import automobile industry saw its sales of cars priced more than 100 million reach 8,035 units for the first nine months of 2012, up about 10 percent over the same period last year.Accor
MobilityOct. 21, 2012
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Int'l passenger traffic hits new quarterly-high in Q3
The number of passengers on international flights to and from South Korea reached a record high in the third quarter on increased demand from Chinese and Japanese tourists.The number of international passengers reached 12.95 million in the July-September period, up 10.4 percent from a year earlier, according to statistics by the Ministry of Land, Transport and Maritime Affairs.The figure is 1.22 million higher than the previous quarterly record of 11.73 million during the same period last year.T
Oct. 21, 2012
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Mars rover gets a taste of Martian soil
NASA's Mars rover Curiosity has swallowed its first solid sample into an analytical instrument inside the rolling laboratory, mission scientists said.The rover's Chemistry and Mineralogy instrument, or CheMin, is analyzing the sample to determine what minerals it contains, NASA's Jet Propulsion Laboratory in Pasadena, Calif., reported Thursday."We are crossing a significant threshold for this mission by using CheMin on its first sample," Curiosity's project scientist John Grotzinger said. "This
TechnologyOct. 21, 2012
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AIPPI kicks off intellectual property congress in Seoul
The International Association for the Protection of Intellectual Property (AIPPI) will open the 43rd World Intellectual Property Congress in COEX, southern Seoul, on Saturday to discuss IP protection and other issues.A number of international intellectual property professionals arrived in Seoul to take part in the 2012 congress, one of the biggest IP-related events, to run until Oct. 23. It is the first time for Seoul to host the World IP Congress of AIPPI, the world’s oldest global IP associati
Oct. 19, 2012
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World experts to discuss protection and future of intellectual property
Following is the opening address to be delivered at the opening ceremony of the 43rd AIPPI World Intellectual Property Congress in Seoul on Saturday evening. ― Ed.On behalf of the entire Bureau of the International Association for the Protection of Intellectual Property, I am honored to welcome all of you who have come to attend the 2012 AIPPI World Intellectual Property Congress in Seoul.Established in 1897, AIPPI has done a wonderful job of protecting intellectual property. AIPPI has contribut
Oct. 19, 2012
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Kolon vows fight against U.S. trade secret charge
Kolon Industries Inc., a leading South Korean textile maker, said Friday that it will fight U.S. Justice Department charges that it stole trade secrets, expressing deep regret over the legal action.The prosecutor of the Eastern District of Virginia on Thursday charged Kolon and five company executives for theft of trade secrets regarding aramid fiber products of DuPont Co. and Japan’s Teijin Ltd. Aramid is a class of heat-resistant, strong synthetic fiber.The Department of Justice’s allegations
IndustryOct. 19, 2012
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HSBC projects 3.8% growth for Korea in 2013
Hongkong and Shanghai Banking Corp. forecast 3.8 percent economic growth for Korea next year, higher than this year’s projected 2.6 percent, as exports are expected to pick up on China’s economic recovery.Frederic Neumann, co-head of Asian Economic Research for HSBC, told reporters here on Friday that the Korean economy faces a “challenging outlook for exports and industrial output” in the last three months of this year, but that economic growth would likely pick up in 2013 as Asia’s fourth-larg
Oct. 19, 2012
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GM Korea hopes to acquire KDB stake
Carmaker reportedly wants to strengthen Korean operations but skeptics suspect plan to ‘cut and run’Industry rumors of GM Korea accosting state-run Korea Development Bank to sell its stake in the carmaker is bringing back old nightmares of what is referred to as a “cut-and-run” scheme. GM Korea is reportedly hoping to buy back its 17.02 percent stake from KDB, which is said to be hemming and hawing over the implications of the sale.Three years ago, Ssangyong Motor Co. ― the nation’s smallest aut
IndustryOct. 19, 2012
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Singles need more money when ill, elderly
Singles, especially those without children, will need to budget more money for healthcare in old age than those who are married, U.S. researchers say. The MetLife Mature Market Institute's monthly Market Trends report said the 2010 Census revealed married couples are 48 percent of U.S. households. Those with children age 18 and younger comprised just 20 percent of households and those with two children were 8 percent. From a planning perspective it is harder to control costs when injured
TechnologyOct. 19, 2012
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Personality is revealed by the body’s position: research
A British news report said a new research found that more than half of people in the U.K. tend to curl up their bodies in a fetal position when they sleep in bed -- which indicates that they are worriers.About 58 percent of people researched sleep with their knees up and heads down, the report said.The second-most common position, 28 percent, was the “log,” which can be associated with people’s rigid personalities, according to body language expert Robert Phipps.Phipps categorized four sleeping
TechnologyOct. 19, 2012
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Study: Dolphins are always half awake
Dolphins can remain alert for two weeks at a time with no sign of fatigue because only half of their brains sleep at a time, U.S. researchers say.Researchers at the National Marine Mammal Foundation in San Diego and colleagues found dolphins can use echolocation with near-perfect accuracy continuously for as long as 15 days, identifying targets and monitoring their environment.The researchers studied two dolphins, one male and one female, and found that they were capable of this task with no sig
TechnologyOct. 19, 2012
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One-person households surge
Single-person households increased rapidly to take up over a quarter of Korea’s total thanks to delayed marriages and an aging population.The reshaping of Korean households is changing the investment landscape in favor of certain industries and companies catering to individualism. They include health care, cosmetics, convenience stores, home meal manufacturing, dining, online shopping and leisure product makers. Two-person homes were dominant until last year, but were overtaken by one-person hou
Oct. 18, 2012
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Translation app tops chart to mixed reviews
As the automatic translation application “GenieTalk” has taken the No. 1 spot on AppStore’s free popular app chart just one day after launching, early adopters across the nation and overseas are busy posting reviews on social network services ― on both the good and the bad. “GenieTalk,” a free Korean-English translation app developed by the Electronics and Telecommunication Research Institution with support from the Ministry of Knowledge Economy, was introduced on Wednesday and jumped straight t
TechnologyOct. 18, 2012
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Bruxism (teeth clenching or grinding)
Some of us will have had the experience of sleeping next to a person who grinds their teeth. Occasional teeth grinding is not a big deal, but if this happens regularly, it causes inconvenience for both the person and those around them.Bruxism often occurs during sleep and it seems to be one of many known sleep disorders. The mechanism of bruxism is believed to be similar to that of kicking your leg during sleep.There are several hypotheses to explain the possible causes of bruxism. Traditional v
TechnologyOct. 18, 2012
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Korea on propofol alert
The 2009 death of pop legend Michael Jackson brought propofol, the anesthetic that killed him, to the world’s attention. Before the tragic incident, people knew little about the drug and how dangerous it could be when administered for non-medical purposes and by unqualified personnel.Korea is no longer safe from the threat of propofol too, as a series of the drug abuse cases involving the anesthesia drug have been reported. Propofol has been classified as a psychotropic drug since last year in K
TechnologyOct. 18, 2012
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KB Kookmin scores top in survey of custodian banks
KB Kookmin Bank received the highest marks to become among the “top rated” custodian banks for the seventh year in a row in an annual service evaluation by a British magazine. The Global Custodian has assessed the services of custodian banks worldwide since 1990, becoming a key trade journal for reference when global financial institutions and institutional investors choose their custodian banks.A custodian bank is a specialized financial institution responsible for safeguarding a firm or indivi
Oct. 18, 2012
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Korean banks resilient to household debt: Moody’s
HONG KONG (Yonhap News) ― South Korean banks are resilient to the country’s heavy household debt, as they have a solid capital buffer against possible debt defaults, Moody’s Investors Service said Thursday.Heavy household debt has often been cited as one of the major concerns for the South Korean economy, which could pose a serious threat to the already slowing economy.“One reason for this resilience is that the loan portfolios of Korean banks, which account for about half of the household credi
Oct. 18, 2012
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Shares edge up ahead of European meeting
South Korean stocks edged up 0.2 percent Thursday as investors sat on the sidelines ahead of a key policymaking meeting in Europe, analysts said. The local currency rose to a new yearly high against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 3.97 points to 1,959.12. Trading volume was moderate at 490 million shares worth 4.22 trillion won ($3.82 billion), with losers outpacing gainers 540 to 277.“There are no bigger issues to push up the main index further following a
Oct. 18, 2012
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Self-employed people take hit from slump
The number of self-employed people shutting down their business last year jumped to a four-year high, suggesting that owners of mom-and-pop stores bore the brunt of the slowing economic growth, data showed Thursday.According to the data by the National Tax Service, business closures by self-employed people totaled 829,669 last year, up 3 percent or about 24,000 from a year earlier. It marked the largest number since 2007 when the figure was 848,000. By sector, the service sector including hair s
Oct. 18, 2012
