Hyundai, Kia strive to defend dominant position in local market

K9, New Santa Fe  to compete with   U.S.-manufactured  Japanese models Hyundai Motor and Kia Motors are signaling fierce competition with import car brands in a bid to protect their dominant market share at home.Following Hyundai’s launch of the third-generation Santa Fe in April, its affiliate Kia will unveil the K9, a luxury premium sedan, on May 2.Hyundai Motor has more than 40 percent of the local market while its affiliate Kia Motors’ market share hovers at 30 percent.But their position has

MobilityMay 1, 2012

Police investigating new dog-dragging case

Police in Busan launched an investigation Tuesday into a report that a person drove a car with a dog dragged behind it last week.A civic group called Coexistence of Animal Rights on Earth has filed a complaint with the city police after receiving a tip from a witness. Video footage shot on April 29 shows a large dog on a leash being dragged behind a city car. It has been circulated on the Internet and TV channels triggering calls against animal cruelty.“Although passing-by cars honked horns and

IndustryMay 1, 2012

Infant with online 'bucket list' dies

An online bucket list a Houston couple created for an infant daughter with a fatal illness has drawn more than 2.1 million page views, the blog's counter says. Avery CanahuatiLaura and Mike Canahuati created Avery's Bucket List for their 6-month-old daughter, Avery, in hopes of raising awareness about her condition, spinal muscular atrophy, the No. 1 genetic killer of infants under 2, The Grand Ra

TechnologyMay 1, 2012

Each hour in U.S., a baby is born addicted

About one baby is born every hour in the United States addicted to opiate drugs, and withdrawal among newborns almost tripled from 2000 to 2009, a study said. (MCT)Dr. Stephen W. Patrick, a fellow in the University of Michigan's Division of Neonatal-Perinatal Medicine, the estimated number of newborns with drug withdrawal syndrome was 13,539 -- or about one baby born each hour -- by 2009."Recently

TechnologyMay 1, 2012

Consumers given wider access in purchasing cell phones

Foreign handset  makers eye Korea’s low-end marketA cell phone blacklist system takes effect from Tuesday, allowing consumers to buy a handset through any distribution channel and activate network service just by inserting a universal subscriber identity module chip.Only blacklisted phones that are reported stolen or lost by their original owners would have limitations in accessing a mobile network, said the Korea Communications Commission. With the distribution channel for handsets getting more

IndustryApril 30, 2012

Forum to discuss water crisis, solutions

Around 7,000 policymakers, industry specialists and academics from some 130 countries will gather in Busan in September to seek ways to better utilize water resources and develop related technologies. The 2012 World Water Congress & Exhibition will provide a platform to foster a global network to tackle water scarcity and other challenges and devise potential solutions, organizers said Monday.“Water shortages are a big problem but also a fantastic opportunity for us to produce and export technol

April 30, 2012

Hyundai Motor unveils Yeosu Expo pavilion

Hyundai Motor Group on Monday introduced its exhibition hall for the upcoming Yeosu Expo 2012, which underscores the carmaker’s efforts to save resources and the environment. Under the theme “Living Ocean and Coast,” 106 countries and nine international organizations plan to showcase their marine development and oceanic technology on the southern shore of the Korean Peninsula starting May 12.The auto giant is one of the seven local corporations to run pavilions during the three-month event along

MobilityApril 30, 2012

Beef inspection team heads for U.S.

A South Korean beef inspection team left for Washington on Monday to investigate the latest mad cow disease case and the overall safety of U.S. beef. The Ministry for Food, Agriculture, Forestry and Fisheries said that it may take additional measures depending on the results reported by the team. Led by Joo Yi-seok, head of the animal disease prevention department at the Animal, Plant and Fisheries Quarantine and Inspection Agency, the team is comprised of nine members including government offic

IndustryApril 30, 2012

LGE, Microsoft may tie up on smartphones

MS chief Ballmer  likely to meet Koo  during visit to Seoul this month: sourcesEyes are on the possibility of Microsoft’s chief executive Steve Ballmer holding a meeting with the chief of LG Electronics, as the U.S. software giant chief is expected to visit Seoul this month.Industry sources said Ballmer is likely to engage in business meetings with local industry representatives, including LG and its platform developers, as he is coming to speak at the Seoul Digital Forum on May 22.“Ballmer, who

IndustryApril 30, 2012

FSS chief presses banks on social obligations

The nation’s top financial regulator called on the banking industry to expand their social contribution activities during a meeting with 18 CEOs of banks on Monday.“The financial sector has been criticized for glossing over difficulties of the underprivileged,” Financial Supervisory Service Gov. Kwon Hyouk-se told the participants.“In proportion to their earnings, banks should have a deeper engagement with charities and causes for their own business interests,” he said. The FSS chief’s remarks c

April 30, 2012

Samsung Electronics stocks hit record

Some brokerages forecast chipmaker’s share price to hit 2 million wonSamsung Electronics stocks surpassed 1.4 million won ($1,240) per share during the trading session on Monday, hitting a record-high.Predictions emerged in the market that stocks of the world’s biggest memory chipmaker would eventually reach 2 million won within several months.After climbing to 1.409 million won on the main bourse, Samsung Electronics stocks closed at 1.39 million won, up 16,000 won, or 1.16 percent, from a trad

April 30, 2012

GM to start selling Chevy Corvette in Korean market

General Motors Co., the world’s largest automaker, will begin selling the Chevrolet Corvette sports car in South Korea this month as the U.S. company seeks to expand sales in overseas markets.The Corvette Coupe, equipped with a eight-cylinder engine delivering 430 horsepower, will go on sale May 4 starting at 86.4 million won ($76,300), GM’s Korean unit said in an e- mailed statement on Monday. That’s more than 50 percent higher than the car’s sticker price in the U.S.The coupe will be the ninth

MobilityApril 30, 2012