The Korea Herald

Seoul stocks to follow European, U.S. development, economic data

South Korean stocks are expected to be influenced by European political developments and U.S. economic data next week, local analysts said Saturday.The country’s key stock index, the KOSPI, closed at 1,917.13 on Friday, a drop of 3.62 percent or 72.02 points from a week earlier, mainly due to anti-austerity election results in France and Greece and disappointing U.S. labor market reports. The KOSPI tends to track Wall Street and reacts to overseas developments affecting trade and investments. Th

May 13, 2012

Korea’s overseas property purchases reach $49m in Q1

Local residents’ acquisition of overseas real estate reached $49.5 million in the first three months of this year, government data showed Sunday.The figure represents an increase from $27.7 million recorded during the last quarter of last year but falls far short of $63 million, the quarterly average between 2010 and 2011, according to the Ministry of Strategy and Finance.North America was the most popular destination between January and March for South Korean real estate buyers, accounting for

May 13, 2012

Korea, China can conclude trade talks in 2 years: Lee

BEIJING (Yonhap News) ― South Korea and China can conclude bilateral free trade negotiations in two years if both sides find a compromise on “sensitive issues” for each other, such as agricultural and fishery products for Seoul, President Lee Myung-bak said in an interview televised Saturday.Earlier this month, Seoul and Beijing declared the launch of government-level negotiations to forge a bilateral pact to free up trade between the two of Asia’s biggest economies. The first round of talks are

May 13, 2012

How to get to the Expo

The Yeosu Expo site is located inside Yeosu City, a southern coastal port in South Jeolla Province, the nation’s southwestern region.For visitors from Seoul and the surrounding Gyeonggi Province, the most convenient way to get to the venue is to take the KTX, or Korean Train Express. Yeosu Expo Station connects to Gate 3 of the Expo directly, minimizing the walking distance for visitors. KTX passengers can also get 30 percent off their train fare if they show their Expo tickets to the ticketing

May 13, 2012

Obama sends congratulatory message for Yeosu Expo

U.S. President Barack Obama on Saturday sent a congratulatory message for the opening of the Yeosu Expo and expressed a close bond to its maritime theme, saying he grew up living by the sea.Images of sea life and the marine environment floated across a large water screen as Obama spoke in a video message projected onto it. The speech marked the opening of the U.S. Pavilion at the 2012 World Expo, which opened in the southern coastal city of Yeosu early in the day. The global fair, themed “The Li

May 13, 2012

Koh Young eyes 3-D inspection in non-memory chips

Global top inspection player seeking share buybacks, M&As, CEO saysChips connected with tiny electronic components and circuits are made through long manufacturing lines. They must be assembled and produced with maximum precision and perfection. Otherwise consumers are left with malfunctioning mobile devices and computers.In between those lines, there is inspection equipment such as solder paste and automatic optical inspection that makes sure such electronic components are put together and made

TechnologyMay 13, 2012

Koh Young eyes 3-D inspection in non-memory chips

Yeosu Expo kicks off 93-day journey

Foreign tourists satisfied with exhibit reservation system, facilitiesYEOSU, South Jeolla Province ― About 36,000 people visited the Expo 2012 Yeosu on the first day of the three-month world fair on Saturday, the expo organizing committee said Sunday.The figure was a lot less than its projection of 100,000, but the committee expects more visitors when the summer vacation season starts. “The reason the number of visitors was not as much as we had anticipated is probably because people thought th

May 13, 2012

S. Korea's overseas property purchases reach $49 mil. in Q1

Local residents' acquisition of overseas real estate reached $49.5 million in the first three months of this year, government data showed Sunday.The figure represents an increase from $27.7 million recorded during the last quarter of last year but falls far short of $63 million, the quarterly average between 2010 and 2011, according to the Ministry of Strategy and Finance.North America was the mos

May 13, 2012

Jogging mother called ‘selfish cow’ during pregnancy

British woman Jenny Wright said in a news report that she was called “selfish cow” by internet users because she kept on jogging during her pregnancy. According to the report, she was six months pregnant in January when she ran almost every day. She had posted her jogging experience on a website, with the encouragement of her doctor. There were hundreds of emails and comments by readers. Critics said that she could have caused brain damage in the unborn child; that her exercising was for feminis

TechnologyMay 13, 2012

Jogging mother called ‘selfish cow’ during pregnancy

S. Korea, China, Japan agree to push to launch 3-way FTA this year

Trade ministers from South Korea, Japan and China said on Saturday that they agreed to push to launch negotiations for a three-way free trade agreement by the end of this year.The agreement reached in Beijing by South Korean Trade Minister Bark Tae-ho, Japanese Economy, Trade and Industry Minister Yukio Edano and Chinese Commerce Minister Chen Deming is to be recommended to a trilateral summit sla

May 13, 2012

Man installs iPod holder… in his body

Dave Hurban just loves his iPod so much that he would do anything nearly anything for it; even go through painful operation.The tattoo artist has surgically implanted four magnets in his wrist in order to hold his iPod Nano in a ‘cool way’, without bothering with wristbands.In a video produced by Kaledioscope Kreative, Hurban barely winces as he performs the surgery himself.He says the implants are in fact, not that unique as one might think.“Those magnets are actually called micro-dermal anchor

TechnologyMay 13, 2012

Seoul stocks to follow European, U.S. developments, economic data

South Korean stocks are expected to be influenced by European political developments and U.S. economic data next week, local analysts said Saturday.The country's key stock index, the KOSPI, closed at 1,917.13 on Friday, a drop of 3.62 percent or 72.02 points from a week earlier, mainly due to anti-austerity election results in France and Greece and disappointing U.S. labor market reports. The KOSP

May 12, 2012

Dynamic shows open Yeosu Expo

Big O Show, K-pop, pansori performances adorn opening ceremony of world maritime fair YEOSU, South Jeolla Province -- Multimedia shows and fireworks embroidered the skies above the waters off this southern coastal town Friday evening during the Expo 2012 Yeosu opening ceremony.About 2,400 people including President Lee Myung-bak and Bureau International des Expositions secretary general Vicente Gonzalez Loscertales attended the ceremony on the eve of the official opening of the 93-day world mari

May 11, 2012

Hanwha to build solar power plant in Portugal

Hanwha Group said Friday that it will start the construction work of a solar power plant in Portugal. The group said its affiliate Hanwha Solar has recently formed a consortium with Martifier Solar, a Portuguese photovoltaic energy firm, to build a 17.6-megawatt solar power plant in Lisbon. Even though the construction of the power plant was not scheduled to be completed until March next year, officials said it would be possible to start electricity generation in phases from as early as December

IndustryMay 11, 2012

Shares fall 1.43% on lack of leads

South Korean stocks closed 1.43 percent lower Friday on lack of upward momentum and growing European debt concerns, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 27.80 points to 1,917.13, in its third straight session of decline.Trading volume was moderate at 522 million shares worth 4.32 trillion won ($3.76 billion), with losers clearly outpacing gainers 607 to 206.“There was no real momentum to bolster the bourse and counter

May 11, 2012

Farm minister insists U.S. beef is safe

Korean Agriculture Minister Suh Kyu-yong reaffirmed on Friday that the beef imported from the U.S. poses no threat to public health.“There is no problem with the safety of U.S. beef, but the quarantine strengthening policy will continue,” Minister Suh said.The minister made the remarks after being briefed on the report from the Korean inspection team, which returned home earlier in the day from its trip to the United States. “After examining documents and earmark of the cow regarding the recent

IndustryMay 11, 2012

Financial sector urged to do more to achieve green growth

Public-private partnership has been one of the effective ways to tackle global warming.And financial companies have faced growing calls for playing a more active role in dealing with climate change as a majority of funding to sustain green growth will need to come from the private sector, while governments need to back it with sound policies.Climate change is not a short-term issue, and financial companies should see it as more than just about project financing, said Gwen Andrews, vice president

May 11, 2012

Financial sector urged to do more to achieve green growth

Peruvian president visits SK complex

SK Group said Friday that its chairman Chey Tae-won met Peruvian President Ollanta Humala at SK Energy’s oil refinery complex in the southeastern coastal city of Ulsan. The group said that the visiting president discussed future partnerships with the nation’s energy giant in resource development and other energy businesses. “Since its first participation in developing an oil field, Block 8, in 1996, SK and Peru have maintained a partnership for 17 years,” Chey said at the meeting. “We expect to

IndustryMay 11, 2012

Futuristic cars to hit Busan Motor Show

Four models to be unveiled in the biennial event for first time in AsiaThe sixth Busan International Motor Show, which will kick off on May 24, will feature futuristic concept cars with state-of-the-art technologies, carmakers said Friday.Some of the concept cars ― prototypes that give consumers a peek at future designs ― will be showcased for the first time in Asia via the 11-day auto fair at the BEXCO in Busan, they said.Hyundai Motor will unveil several futuristic models, such as the HND-7/He

MobilityMay 11, 2012

Yeosu Expo offers eye-catching events, performances

YEOSU, South Jeolla Province -- The Expo 2012 Yeosu has arranged several eye-catching events and performances throughout it’s run. During the three-month Expo, various concerts, street performances, water shows and other cultural spectacles performed by artists from here and abroad will be staged. The organizers said the Expo offers about 90 cultural events and performances every day until the maritime festival ends on Aug. 12Big Star ShowThe Big Star Show happens every weekend and includes per

May 11, 2012

Yeosu Expo offers eye-catching events, performances