Most Popular
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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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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Seoul snowfall now third heaviest on record
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Samsung shakes up management, commits to reviving chip business
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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How $70 funeral wreaths became symbol of protest in S. Korea
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NewJeans terminates contract with Ador, embarks on new journey
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Why cynical, 'memeified' makeovers of kids' characters are so appealing
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Seoul shares down 0.58 percent on tech loss
Korean stocks slipped 0.58 percent on Friday, led by a sharp fall in tech shares, analysts said. The local currency edged down against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.37 points to 1,946.54. Trading volume was moderate at 368.3 million shares worth 4.7 trillion won ($4.1 billion), with decliners outnumbering gainers 406 to 390."A slump in Samsung Elec
Aug. 17, 2012
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Apple’s iPad Mini likely to a scaled-up iPod Touch
The iPad Mini will be more like a larger version of the iPod Touch rather than a smaller version of the iPad. Several industry sources speculated that the new gadget will not be a revolutionary redesign. However, it will have slimmer bezels along its sides to make for easier use and will also have a 7-inch screen, positioning it to rival Google’s popular Nexus tablet. What is to give the iPad Mini its edge is its rumored larger 4:3 display. Eddy Cue, Apple’s Vice President, stated that the late
TechnologyAug. 17, 2012
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Malware targeting Android devices rising
The amount of malware targeting Android devices such as smartphones and tablets tripled in the second quarter of 2012, a Russian security firm says.Security company Kaspersky Labs said malware specifically targeting Android-based phones, tablets and computers increased by a significant amount in the quarter, SlashGear reported Thursday.Kaspersky said 14,900 new malicious programs targeting Android devices were added to its database of malware threats, up from 5,441 in the first quarter.Almost ha
TechnologyAug. 17, 2012
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Seoul shares turn lower after strong start
Korean stocks turned lower following a high opening on Friday as institutional and retail investors opted to offload their shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.26 points, or 0.17 percent, to 1,954.65 in the first 15 minutes of trading.Techs led the decline with market bellwether Samsung Electronics slumping 1.93 percent. Some major exporters, however
Aug. 17, 2012
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Glass ceiling still tough to break in Korea
Smashing through the glass ceiling is still difficult for most women in corporate Korea, especially for those who want to climb to the top, government data suggested on Thursday. According to data collected from government offices, there are 813 board members at the nation’s 100 leading companies in terms of market value. Of them, only 12 are women. When considering that Hyundai Group chairwoman Hyun Jung-eun also serves as the executive chairman for Hyundai Merchant and Hyundai Securities, the
IndustryAug. 16, 2012
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China rapidly narrows industrial gap with Korea
This is the fifth in a series of articles to mark the 20th anniversary of diplomatic ties between South Korea and China. ― Ed.The technology gap between Korea and China has narrowed over the past decade in the manufacturing industry.According to data from the Korea Institute for Industrial Economics & Trade, the technology gap in the manufacturing industry between the two countries narrowed to 3.7 years in 2011 on average, from 4.7 years in 2002.In terms of the countries’ technological levels as
IndustryAug. 16, 2012
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Jobless rate falls to 3.1% in July
Korea’s jobless rate fell from a month earlier in July due to a rise in new jobs offered, especially for young people, according to a government report on Thursday.Statistics Korea said the jobless rate hit 3.1 percent in July, down from 3.2 percent in June. It also said the growth in the number of employed persons increased by 1.3 percent compared to the previous month.In July, 470,000 new jobs were added in the market, compared with some 365,000 new jobs in the previous month, officials said.T
Aug. 16, 2012
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Jellyfish scare spreads along the coast
Holidaymakers and fishermen are worried about giant toxic jellyfish showing up in Korea’s coastal areas in record numbers this summer.A girl was killed earlier this month and more than 500 people have been stung by jellyfish in the seas around Busan this season. The southern resort island of Jeju saw more than 130 people stung.Although there have been reports in China and Southeast Asia of deaths caused by poisonous jellyfish, Korea was considered relatively safe from them. However, the scare is
TechnologyAug. 16, 2012
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Ovarian cancer
Ovarian cancer accounts for 4.2 percent of all cancers in women and has the highest incidence rate among all genitourinary cancers in women following cervical cancer in Korea. There is growing concern about ovarian cancer as its incidence rate is on the rise every year with approximately 1,400 newly-diagnosed patients annually, whereas the incidence rate of cervical cancer is gradually decreasing.The ovaries are small organs located in the female pelvis which are found in pairs on either side of
TechnologyAug. 16, 2012
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Malaria haunts border areas
Soured inter-Korean ties stymie efforts to control mosquitoesFears of malaria haunt South Koreans living near the border with North Korea, as soured inter-Korean ties take their toll on efforts to control the disease-carrying mosquitoes that fly freely across the heavily-fortified De-Militarized Zone. South Korea’s Centers for Disease Control and Prevention has issued a malaria warning for parts of Incheon, Gangwon Province and some northern areas of Gyeonggi Province, all near the northern bord
TechnologyAug. 16, 2012
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Iranian central bank to stop using accounts at Woori, IBK
The Iranian central bank has decided to stop using its trade settlement accounts at two Korean banks amid disputes over the interest rate.The Central Bank of Iran said it informed Woori Bank and the Industrial Bank of Korea of its decision and asked the Seoul government to find other banks where it can open new Korean won-denominated accounts. The CBI is eyeing NH Nonghyup and the Export-Import Bank of Korea, according to financial sources here.Minoo Kiani Rad, vice governor of the CBI, told Kor
Aug. 16, 2012
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Seoul shrugs off impact of spat on Japan currency swap
Eyes are on whether political tension will affect bilateral economyEyes are drawn to whether the heightened diplomatic tension between Korea and Japan will affect their currency swap deal aimed at preventing a foreign currency liquidity crunch.When asked by reporters at a press conference on Wednesday if the Korea-Japan currency swap deal might be reexamined, Japan’s Chief Cabinet Secretary Fujimura Osamu said his government would consider various options in regard to the swap deal, not ruling o
Aug. 16, 2012
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Companies need new focus on charity programs: U.N. Global Compact Korea head
Though products made in Korea may rank four or five on a scale from one to five, the nation’s corporate social-responsibility would only rank at about two, said Lee Seung-han, president of U.N. Global Compact Korea. “Most companies are still at the level of making simple donations. It should be, however, more strategically approached, considering the character and strong points of the company. Companies need to broaden their vision but narrow the focus,” Lee told The Korea Herald on Tuesday. “Th
Aug. 16, 2012
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Samsung Electronics to set up software R&D center
Samsung Electronics plans to build a research and development center in Umyeon-dong, Seocho-gu, Seoul.The tech giant has recently been given a greenlight from the district office to construct the 1 trillion won center, which will focus on R&D of software and tech design.The company has begun the construction of the center last week, a Samsung official said in media reports.The R&D center will be 10 stories high on a 330,000 square meter plot, housing some 10,000 research employees.It is expected
Aug. 16, 2012
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EUCCK undecided over shutdown
The European Union Chamber of Commerce in Korea has remained undecided over whether it will close in response to the fine imposed by the Korean government for failing to report and pay income generated from its in-house magazine ad sales.The EUCCK said it has so far paid 1.9 billion won out of the 4.5 billion won ($4.0 million) fine to the tax authorities. The organization is currently divided over whether to take legal action over the National Tax Service’s penalty. One of the options is closin
Aug. 16, 2012
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Daelim opens apartment sign-ups
Daelim Industrial Co. will be taking applications to buy units in its newly built apartment complex Yangdeok e-Pyunhansesang in Pohang, North Gyeongsang Province, from Aug. 17, the housing builder said on Wednesday. Built on about 32,500 square meters of land, the new complex has 637 apartments with five different areas ranging from 84 to 165 square meters. Daelim says that the Yangdeok region will form a new residential belt, connecting the 1.1-million-square-meter area with 7,570 households an
IndustryAug. 16, 2012
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Nexon expands its presence
COLOGNE, Germany ― Nexon Company said here on Wednesday that it will focus on spreading its soon-to-be-launched new online games in European countries, after featuring two titles for the first time at this year’s gamescom convention.Introducing the first-person shooter “Shadow Company” and real-time strategy game “Navy Field 2” to European users, Nexon Europe chief executive Kim Sung-jin said the company plans to release the games in the first half of next year.“After numerous reviews, we came t
IndustryAug. 16, 2012
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Gamescom showcases 600 exhibitors in Cologne
Big industrial names gather in Germany to unveil new titlesCOLOGNE, Germany ― Gamescom 2012, one of the world’s biggest gaming conventions, kicked off on Thursday with a flood of new titles from firms like Nexon, NCsoft, Blizzard, Electronic Arts, Bethesda Softworks, Capcom and Konami.Although big names such as Nintendo and Microsoft did not take part in this year’s event, the fourth annual event of its kind showcases 600 exhibitors from 40 countries until Aug. 19.“As a unique event worldwide, g
IndustryAug. 16, 2012
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Korean Air emerges as sole bidder for Korea Aerospace
Korean Air Lines Co. said Thursday it has submitted its bid proposal for a controlling stake in South Korea‘s aircraft maker Korea Aerospace Industries Ltd. (KAI).South Korea’s top air carrier has been left as the only preliminary bidder for the aircraft maker, according to state-run policy lender Korea Finance Corporation (KoFC), the biggest shareholder of KAI with a 26.41 percent stake. The state-run Korea Development Bank (KDB), the lead manager of the stake sale, set an Aug. 16 deadline for
IndustryAug. 16, 2012
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S. Korea, Australia agree on swift conclusion of free trade talks
South Korea and Australia have agreed to swiftly conclude negotiations on forging a bilateral free trade agreement, Seoul's foreign ministry said Thursday. The agreement was reached at a meeting earlier in the day between South Korean Foreign Minister Kim Sung-hwan, who is on a two-day visit to Australia, and Australian Trade Minister Craig Emerson, ministry officials said. Kim and Emerson "reache
Aug. 16, 2012