Korean Air signs deal to repair U.S. F-16 fighters

Korea’s leading flag carrier Korean Air said Wednesday that it has signed a contract with the U.S. Air Force in the Asia Pacific region over repair work on F-16 fighters to improve combat capability. The 35 billion won ($31 million) project includes stealth coating, inspection of wings and restoration and replacement of major parts of F-16 fighter jets from October until 2018. The company declined to comment on the number of fighters that it would repair, calling it a trade secret. Korean Air sa

IndustrySept. 26, 2012

Samsung on verge of winning German court battle with Apple

BERLIN (DPA) ― Samsung Electronics was on the verge of winning a court battle in Germany against Apple, a judge indicated Tuesday, as the tech giants engage in a global dispute over patents for mobile devices.The judge is considering a case in which Apple alleges that five Samsung tablet products from their Galaxy range imitate the look and feel of Apple’s iPad.Judge Johanna Brueckner-Hofmann did not issue a verdict, but said she was not convinced that consumers would mistake the Samsung product

TechnologySept. 26, 2012

Dancing, boxing video games burn calories

Active video gaming with dancing and boxing was associated with higher energy expenditure in children, researchers in Britain said. Stephen R. Smallwood and colleagues from the University of Chester in England examined the physiologic responses and energy expenditure of active video gaming using a video game with a webcam-style sensor device and software technology that allows the player to intera

TechnologySept. 26, 2012

Study: Contraception an economic issue

Most U.S. women say they use contraceptives because they could not afford to take care of a baby at that time, researchers say.Jennifer Frost and Laura Lindberg of the Guttmacher Institute in New York said few U.S. studies ask women why they use contraception and what benefits they expect or have achieved from its use.Frost and Lindberg surveyed 2,094 U.S. women receiving services at 22 family pla

TechnologySept. 26, 2012

Parents have big impact in reducing weight

SAN DIEGO (UPI) -- Parents can make a big difference by helping to instill healthy behaviors in their children, a U.S. health and wellness company says. Dr. Mary Jane Osmick, vice president and medical director of health services for American Specialty Health -- which provides fitness and exercise programs for health plans, insurance carriers and employer groups -- said obesity now affects 17 perc

TechnologySept. 26, 2012

Public sector should improve transparency, debt control: minister

South Korea's public sector should double up its efforts to improve its business health by increasing management transparency and keeping debt under control, the finance minister said Wednesday."We hope that the public sector institutions will raise the trust of people by enhancing their transparency and push for systematic management, including debt analysis," Bahk Jae-wan told a crisis managemen

Sept. 26, 2012

Eurozone economy unlikely to improve until next year: BOK head

South Korea's top central banker said Wednesday that the eurozone economy is not likely to improve until next year as the global economic outlook remains subdued."A set of economic data coming from the eurozone has given mixed signals, repeatedly producing positive and negative news together," Bank of Korea (BOK) Gov. Kim Choong-soo said in a monthly meeting with economists."The eurozone economy i

Sept. 26, 2012

Bosch to invest W200b in Korea

Bosch Group will spend 200 billion won ($178.7 million) on facility expansion in South Korea by next year and hire 300 workers, the head of the German auto part manufacturer’s local unit said Tuesday.Hermann Kaesse, president of Robert Bosch Korea Ltd., told reporters that the planned spending is based on the belief that the South Korean car industry will further develop.Bosch Group has Korean units such as Robert Bosch Korea, Bosch Electrical Drives Co., Bosch Rexroth Korea Ltd., and ETAS Korea

IndustrySept. 25, 2012

Shares fall on foreign selloff

South Korean stocks closed 0.6 percent lower Tuesday as foreigners snapped a 12-day buying streak to opt for profit-taking, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index slid 12.03 points to finish at 1,991.41. Trading volume was moderate at 523.9 million shares worth 4.55 trillion won ($4.06 billion) with decliners outpacing advancers 570 to 257. “Foreigners chose to take profits, but the amount is not big, meaning that they are

Sept. 25, 2012

Hyundai Motor sells $1b in global bonds

South Korea’s top automaker Hyundai Motor Co. said Tuesday its U.S. financial unit has raised a combined $1 billion by selling dollar-denominated bonds in New York in a bid to secure funds for marketing promotions.Hyundai Capital America issued two kinds of $500 million bonds denominated in dollars due in either three or five years, Hyundai Motor said in a statement.The three-year bond has a coupon rate of 1.625 percent, 1.3 percentage points above U.S. treasury bond yields, while the five-year

IndustrySept. 25, 2012

Korean Air to resume direct flights to Saudi Arabia

South Korea’s top air carrier Korean Air Lines Co. said Tuesday that it will resume direct flight services to Saudi Arabia in November after a 15-year break.Korean Air said it will offer three weekly flights to the Saudi capital of Riyadh and the country’s largest port city of Jeddah starting from Nov. 9 with the 218-seat A330-200 passenger jet.The flag carrier operated direct flight services to Saudi Arabia from 1977 to 1997.The planned resumption of direct flights to Saudi Arabia is designed t

IndustrySept. 25, 2012

Hyundai to supply hydrogen Tucson ix to Copenhagen

Hyundai Motor said Tuesday that it will provide its hydrogen fuel cell electric car Tucson ix to the city of Copenhagen next year with the aim of joining Denmark’s initiative for environmentally friendly transportation. Fifteen Tucson ix sport utility vehicles will be leased for official use by the Danish city government in the first half of next year, following a memorandum of understanding for a pilot program that was signed in May last year. While Hyundai has recently joined hands with Europe

IndustrySept. 25, 2012

Consumer sentiment stays below par for 2nd month

South Korean consumers’ confidence stayed below par for the second straight month in September as the protracted eurozone debt crisis heightened economic uncertainties, the central bank said Tuesday.The consumer sentiment index ― a gauge of consumers’ overall economic outlook, living conditions and future spending ― came in at 99 for September, unchanged from the previous month, according to a survey by the Bank of Korea.The September figure marked the lowest level since the index hit 98 in Janu

Sept. 25, 2012