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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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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Seoul's first snowfall could hit hard, warns weather agency
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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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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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Siemens Korea aims to double its sales by 2016
Siemens Korea chairman and CEO Kim Jong-kap said that the company aims to double its sales to about 3.6 trillion won (about $3.26 billion) in five years, stressing that its high rate of growth will continue.“The goal is not so ambitious for Siemens,” Kim said in a press conference on Tuesday organized to review his first year as the CEO. “Achieving 15 percent of sales growth over five years will suffice to double the sales.”The automatic solution company is gearing up to increase investment in s
July 3, 2012
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Economic uncertainties spook Lotte, Shinsegae
Retail giants thinking twice on takeover bids, activities in ChinaKorea’s retail behemoths Lotte and Shinsegae are taking it slow in China, their first and largest overseas market, while pulling in their horns in the merger and acquisition battles at home.The two rivals are getting cold feet as the prolonged fiscal and financial crisis in Europe is taking a toll on consumption in other parts of the world including Korea. Lotte Group chairman Shin Dong-bin suggested a defensive strategy in a meet
IndustryJuly 3, 2012
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Cat parasite infection may lead to suicide attempts
Scientists have uncovered a potential link between a common cat parasite infection and female suicide attempts, according to news reports.Researchers from University of Maryland School of medicine found that women infected with toxoplasma gondii have a higher tendency to kill themselves than those who are not.Toxoplasma gondii is a common parasite that is transmitted via cat feces, eating undercooked meat or unwashed vegetables. In case of animal infections, toxoplasma gondii alters the host’s b
TechnologyJuly 3, 2012
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Seoul shares up 0.87 percent on stimulus hopes
South Korean stocks closed 0.87 percent higher Tuesday as weak economic data from major economies spurred expectations that policymakers may move toward stimulus measures, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 16.17 points to 1,867.82. Trading volume was moderate at 340.8 million shares worth 4.67 trillion won
July 3, 2012
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S. Korea's domestic demand forecast to remain sluggish in H2: think tank
South Korea's domestic demand is expected to remain sluggish in the second half of the year due to stagnant economic growth, a private think tank said Tuesday.In its second-half outlook, the Hyundai Research Institute said that domestic consumption is likely to be very static in the July-December period, which could require stimulus measures to ensure the economy makes a soft landing.The think tank noted that a slump in consumption and investment, and worsening real purchasing power will dampen
July 3, 2012
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Sunken city near U.K. to be unveiled
(123rf)A U.K. news report said scientists on Tuesday will reveal Britain’s answer to the fabled sunken city of Atlantis.The story behind "Doggerland" -- a land that was slowly submerged by water between 18,000 B.C. and 5,500 B.C. -- will be unveiled at the annual Royal Society Summer Science Exhibition.Doggerland supposedly stretched from Northern Scotland across to Denmark and down the English Ch
TechnologyJuly 3, 2012
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DNA test identifies descendant of world’s first woman
A DNA test on a Scottish man revealed that he is directly related to the world’s first woman, British media reported Saturday.A 72-year-old retired lecturer, Ian Kinnaird, carries a genetic marker L1B1 that links him directly to “Eve,” the first-ever woman who is assumed to have lived in Africa about 190,000 years ago. Scientists believe that Kinnaird has maternally inherited mitochondrial DNA which is only two mutations removed from Eve, who was nicknamed after the first woman created by God in
TechnologyJuly 3, 2012
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Caffeine may reduce risk of skin cancer: report
Drinking more than two cups of coffee per day, or any other combination of caffeinated beverages, may lower the risk of developing skin cancer, according to a new report.The report in the journal Cancer Research found that caffeinated products including soda, tea and chocolate potentially reduced the risk of developing basal-cell carcinoma, a common form of skin cancer.“Our data indicate that the more caffeinated coffee you consume, the lower your risk of developing basal cell carcinoma,” said J
TechnologyJuly 3, 2012
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Evidence of ‘God particle’ found
(123rf)Physicists say they have all but proven that the “God particle” exists. They have a footprint and a shadow, and the only thing left is to see for themselves the elusive subatomic particle believed to give all matter in the universe size and shape.Scientists at the world's biggest atom smasher plan to announce Wednesday that they have nearly confirmed the primary plank of a theory that could
TechnologyJuly 3, 2012
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Seoul shares open higher on tech gains
South Korean stocks got off to a strong start on Tuesday as tech heavyweights, including Samsung Electronics, posted firm gains, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 13.86 points, or 0.75 percent, to 1,865.51 in the first 15 minutes of trading. Samsung Electronics climbed 1.02 percent after falling more than 2 percent in the previous session due to a U.S. co
July 3, 2012
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Kim stresses World Bank's role in 'pivotal' global economic situation
Dr. Jim Yong Kim, the new head of the World Bank, said Monday that his institution will endeavor to help boost prosperity and eradicate poverty worldwide.Meeting the press formally for the first time since the start of his five-year tenure, Kim said he assumed the presidency of the World Bank "at a pivotal moment for the global economy."He said the Washington-based organization is the "most import
July 3, 2012
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S. Korea's foreign reserves rebound in June
South Korea's foreign reserves rebounded in June from the previous month as investment profit gained and a weaker dollar raised the conversion value of non-dollar assets, the central bank said Tuesday.The country's foreign reserves reached $312.38 billion as of the end of June, up $1.51 billion from the previous month, according to the Bank of Korea (BOK).The foreign reserves in May retreated afte
July 3, 2012
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Korea’s 2013 budget request grows 6.5%
Korea’s government ministries and agencies requested a 6.5 percent hike in their budget for next year as they want to spend more on education, welfare and national defense, the Finance Ministry said Monday.The request made by 51 government ministries and state agencies seek to spend a combined 346.6 trillion won ($303.1 billion) for next year, compared with 325.4 trillion won in the 2012 budget, according to the ministry.The rise is attributed to a 10.1 percent increase in money being asked to s
July 2, 2012
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Pantech to unveil new smartphone
Pantech plans to release its new smartphones next week in a bid to sway consumers from Samsung Electronics’ Galaxy S3, which has been grabbing most of the spotlight in the global mobile markets.Using its trademark “Vega,” the smallest of Korea’s three mobile phone developers will introduce Vega S5 with 5-inch or hand-size display, allowing consumers to easily control the phone with just one hand instead of two.The letter “S” in Vega S5 refers to screen, style, strong, speed and special care, whi
TechnologyJuly 2, 2012
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Korea looks to balance its development
Relocation of public agencies, innovative cities lure people to the provincesThe following is the last in a series of articles on Sejong City, a new multifunctional administrative city that was launched on July 1, and other “innovative cities.” ― Ed. Public agencies are moving out of Seoul and its surrounding Gyeonggi Province to so-called “innovative cities” and other less crowded regions throughout the nation.The term innovative city refers to “future-oriented” towns in South Korea “establishe
IndustryJuly 2, 2012
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SKT, Kia forge marketing ties
SK Telecom has formed strategic marketing ties with Kia Motors for customers of both companies to enjoy greater cross-benefits.Korea’s biggest mobile carrier said that the partnership includes offering 4G Long Term Evolution smartphone users to receive a discount for the purchase and maintenance of Kia automobiles.For instance, SK Telecom’s LTE customers can get a discount of up to 200,000 won when buying a car from Korea’s second-largest automaker, the telecom company said.Both companies will i
July 2, 2012
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Nexus ban to have limited impact on Samsung: Goldman
HONG KONG (Yonhap News) ― The recent ban on the sales of one of Samsung Electronics Co.’s smartphones in the United States will likely have a limited impact on the South Korean tech giant, as the Galaxy Nexus smartphone is an older model, Goldman Sachs said Monday.Last Friday, a U.S. district court ruled that the Samsung Galaxy Nexus phone, an Android-based smartphone co-developed by Samsung Electronics and Google Inc., infringed on some of the patents belonging to iPhone maker Apple Inc., block
TechnologyJuly 2, 2012
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Kwon to head Samsung’s new display affiliate
Kwon Oh-hyun, vice chairman and CEO of Samsung Electronics, will head Samsung Display as the chief executive of the world’s largest display panel manufacturer.Officially launched on Monday, Samsung Display has been formed through mergers of Samsung Electronics’ LCD business division, Samsung Mobile Display and S-LCD. S-LCD was a joint venture between Samsung Electronics and Sony. Sony exited the joint venture last year. Samsung Mobile Display produces OLED panels for mobile devices.The newly est
TechnologyJuly 2, 2012
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Eurozone crisis dealing blow to Korean firms
A variety of economic indices show that Korean manufacturers are exposed to the eurozone fiscal crisis, whose negative impact on local major conglomerates’ production could be amplified in the latter half of the year.According to FnGuide, a provider of corporate financial statements, seven of the nation’s 10 major business groups are estimated to post a drop in their earnings for the first half of the year amid the eurozone woes and weak domestic demand.Its estimates suggested that the seven con
IndustryJuly 2, 2012
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Seoul shares slide 0.13%
South Korean stocks slipped 0.13 percent on Monday as renewed optimism over the eurozone debt crisis faded amid concerns over downbeat economic data and second-quarter earnings, analysts said. The local currency fell against the U.S. dollar.After opening higher, the benchmark Korea Composite Stock Price Index fell 2.36 points to close at 1,851.65, stemming a two-session winning streak. Trading volume was moderate at 265.1 million shares worth 3.41 trillion won ($2.98 billion), with gainers outnu
July 2, 2012
