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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How $70 funeral wreaths became symbol of protest in S. Korea
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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Why cynical, 'memeified' makeovers of kids' characters are so appealing
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BOK makes surprise 2nd rate cut to boost growth
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GS Caltex to expand ties with China’s Shandong
GS Caltex and China’s Shandong Province have agreed to further expand their business and cultural cooperation. According to the nation’s second-largest oil refiner, its chairman Hur Dong-soo and Shandong Province governor Jiang Daming held a meeting for a strategic partnership as a delegation from the Chinese province visited the GS Caltex plant in Yeosu, South Jeolla Province, on Thursday. “I appreciated the achievements we have made over the past 10 years in China under a strong partnership wi
IndustryAug. 3, 2012
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FSS strives to retain supervision power
Regulator poised to intervene in KDIC’s probe of savings banksFinancial regulators are sticking their noses into the Korea Deposit Insurance Corp.’s independent investigative authority over mutual savings banks, many of which it failed to supervise.The situation comes after the Financial Services Commission and the Financial Supervisory Service hindered the National Assembly from allowing the Bank of Korea to independently conduct a probe of financial firms last year.The FSS is in talks with the
Aug. 3, 2012
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Sex-related keywords peak in summer
A recent study in the U.S. showed that people tend to use date-related keywords in Google searches most frequently in the early summer, and December and January, according to a report on livescience.com.“Wherever we looked within these three different areas -- whether it was searches for ‘eHarmony,’ or for ‘brothel’ -- there was this exact same pattern,” said study researcher Patrick Markey, who is a psychology professor at Villanova University. He added that this trend was proven to be consiste
TechnologyAug. 3, 2012
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Seoul shares dip 1.11 percent on eurozone woes
South Korean stocks dropped 1.11 percent on Friday after the European Central Bank (ECB) failed to meet market expectations it would buy bonds issued by Spain and Italy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 20.72 points to 1,848.68. Trading volume was light at 254.6 million shares worth 3.6 trillion won ($3.2 bi
Aug. 3, 2012
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KEPCO seeks 4.9% hike in electricity bill
The Korea Electric Power Corp. announced Friday that its board of directors has agreed to increase electricity charges by an average of 4.9 percent from as early as September, with additional hikes being considered by the end of the year. The fee hikes, that would be implemented differently across industries, would amount to 7 percent for businesses, 3 percent for homes, 3 percent for the agricultural sector, a KEPCO board member told in an interview. The 4.9 percent increase proposal will be re
IndustryAug. 3, 2012
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Seoul shares open lower on ECB disappointment
South Korean stocks got off to a weak start Friday as investors were disappointed with lukewarm actions by the European Central Bank (ECB), analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 19.55 points, or 1.05 percent, to 1,849.85 in the first 15 minutes of trading.Most shares traded in negative territory, with market bellwether Samsung Electronics falling 0.87 percent a
Aug. 3, 2012
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Eland tapped as prime bidder for Ssangyong E&C
Eland Group, a South Korean operator of outlet malls, has been picked as the preferred bidder for the purchase of local builder Ssangyong Engineering & Construction Co., the state-run debt clearer said Thursday. Eland will likely be acquiring a 50.07 percent stake from existing creditors worth 90 billion won ($79.5 million), and taking over new stocks worth 150 billion won through a rights of
IndustryAug. 3, 2012
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Is your problem gluten or faddish eating?
ATLANTA (AP) ― It sounds like an unfolding epidemic: A decade ago, virtually no one in the U.S. seemed to have a problem eating gluten in bread and other foods. Now, millions do.Gluten-free products are flying off grocery shelves, and restaurants are boasting of meals with no gluten. Celebrities on TV talk shows chat about the digestive discomfort they blame on the wheat protein they now shun. Some churches even offer gluten-free Communion wafers.“I don’t know whether there’s more people getting
TechnologyAug. 2, 2012
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Depression in kids and adolescents
It is natural to feel unhappy during times of frustration or loss at different points in our lives. Children and adolescents can also experience such feelings like adults. These depressive symptoms are usually temporary and are relieved in a few days. However, when this mood progresses to depression, it lasts for a longer period and it is difficult to overcome on one’s own. Therefore, early detection and intervention with regards to depression in children and adolescents is important. The depres
TechnologyAug. 2, 2012
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Screening for atopic dermatitis
Summer is a cruel season for atopic dermatitis patients and their families. The heat and humidity exacerbate the itchiness and pain that come with the disorder. Worried parents often stay up all night fanning their children kept awake by itchy and swollen skin. According to the British National Health Service, atopic eczema, also known as atopic dermatitis, is the most common form of eczema. It mainly affects children, but can continue into adulthood.The number of people diagnosed with atopic d
TechnologyAug. 2, 2012
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LG Electronics sets sales record for Optimus LTE2 smartphone
LG Electronics has posted a new sales record for its Optimus LTE2 smartphone, making it the company’s fastest selling mobile phone to date.The Korean electronics giant achieved a benchmark setting record of 500,000 units sold in just 70 days, according to a Yonhap News report on Thursday. The product was launched this May and is the latest in the company’s flagship smartphone Optimus LTE line. The previous version, “Optimus LTE,” took more than 80 days to achieve this figure, Yonhap reported. L
IndustryAug. 2, 2012
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KT makes all-out effort to grab more LTE share
KT is beefing up its efforts to grab a bigger share in the local Long Term Evolution handset market, with the firm offering incentives to all employees who join its marketing drive.The country’s second-largest mobile carrier said it will hand out incentives, amounting up to 5 million won ($4,418), to all of its 32,000 workers ― not only in sales but in all departments ― who are successful in getting customers to sign on to KT’s LTE smartphone service. According to the company, workers of departm
IndustryAug. 2, 2012
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SKT records over 40% profit loss in Q2
SK Telecom said Thursday it posted about 4.01 trillion won ($3.54 billion) in sales and 384.6 billion won in operating profit in April-June, bringing its profit figure down 42.8 percent from the same period last year.In its quarterly regulatory filing, the country’s largest mobile carrier also said that its net profit reached 120.55 billion won, down more than 74 percent from the 465.43 billion won in the second quarter of last year.This quarter’s sales figure improved 0.8 percent from the previ
IndustryAug. 2, 2012
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POSCO intends to build nuclear plant
POSCO Engineering & Construction said Thursday that it has submitted a report of intent to build two nuclear power plants in Samcheok, Gangwon Province. If the company’s application is approved, POSCO will become the first privately-run company here to operate a nuclear power plant. Under the nation’s nuclear safety law, the operation of nuclear power plants should be approved by the Nuclear Safety and Security Commission. Even though the law doesn’t ban the participation of private companies, t
IndustryAug. 2, 2012
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Hyundai Motor sheds ‘cheap car’ brand image
Genesis, Equus luxury sedans set milestone in overseas marketsHyundai Motor has set a new milestone in its global marketing activities to cultivate a premium brand image as overseas sales of its luxury sedans Genesis and Equus exceeded the 100,000 mark in the first half of this year. According to industry sources, Genesis and Equus, the nation’s largest carmaker’s flagship upscale models, saw the number of deliveries reach 88,771 and 10,508, respectively, from January to June this year. Hyundai
IndustryAug. 2, 2012
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Home prices drop for 1st time in 2 years
The average price of houses in South Korea dropped for the first time in two years, related data showed Thursday, offering another clear indication of the country’s struggling housing market.The average price of homes across the country dropped 0.1 percent from a month earlier in July, according to the data released by Kookmin Bank, the largest bank in South Korea. July marks the first time since July 2010 the average price of houses dropped from the previous month.The drop was partly led by a d
Aug. 2, 2012
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Seoul shares down 0.56% on Fed disappointment
South Korean stocks fell 0.56 percent Thursday following the U.S. Federal Reserve’s announcement of no fresh action to boost the slowing economy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 10.53 points to 1,869.4. Trading volume was light at 267.4 million shares worth 3.35 trillion won ($2.96 billion), with losers outnumbering gainers 446 to 342.“The meeting of the Federal Open Market Committee’s was somewhat disappointing
Aug. 2, 2012
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Echo boomers’ birth rate half of their parents’: data
The birth rate of the echo boomer generation, the children of baby boomers, fell to only about half the rate of their parents, Statistics Korea said in a report released Thursday.A married woman in the echo boomer generation born between 1979 and 1992 gave birth to an average of 1.10 children, compared to 2.04 in her parents’ generation.About half of married women in the echo boomer generation gave birth to a single child while 63.9 percent of those in the baby boomer generation, born between 19
Aug. 2, 2012
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Credit card spending up
Growth of South Koreans’ credit card spending decelerated in the first half from a year earlier mainly due to the local economy’s slowdown, a trade association said Thursday.Purchases made with credit cards totaled 253.2 trillion won ($224.8 billion) in the January-June period, up 6.9 percent from a year earlier, according to the Credit Finance Association.When adjusted for inflation, the increase rate was less than 6 percent, the association added. The figure lags behind 17.7 percent on-year gr
Aug. 2, 2012
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Korea to cushion grain prices: minister
The government will play a role in cushioning risks from a possible failure to purchase sufficient grain products in the face of concerns that rising international crop prices could increase food costs and overall inflationary pressure here, the finance minister said Thursday.“As international crop prices are recently spiking in the wake of droughts that hit the United States and South America, fears are rising over agflation,” Finance Minister Bahk Jae-wan told a price stabilization meeting.“We
Aug. 2, 2012
