U.S. auto-safety regulators upgraded their inquiry into Bayerische Motoren Werke AG’s 7 Series cars that may roll away when parked as they probe transmission defects in an electronic access and ignition system.The U.S. National Highway Traffic Safety Administration said Tuesday on its website that it’s intensifying an investigation it opened in August of about 120,000 vehicles to an engineering analysis, which can lead to vehicle recalls. Some drivers said their 7 Series cars from model years 20

MobilityApril 17, 2012

The first international conference on the new trade paradigm, mainly refering to the Authorized Economic Operator, kicked off in Korea on Tuesday.About 800 senior public officials, business leaders and professors from around the world are attending the three-day forum co-hosted by the Korea Customs Service and the World Customs Organization.The conference is drawing interest as this marks the first global gathering since a group of customs authorities officially introduced the so-called AEO conc

April 17, 2012

 Before sunrise on March 8 in Myeong-dong, one of Seoul’s top shopping districts, dozens of people lined up in front of an H&M store. Some had spent the night on the street. They were waiting to get limited edition clothing from a collaboration between H&M’s specialty retailer and premium brand Marni. Freezing weather was not their first concern. The “Marni at H&M” edition went on sale that day globally and were sold out in Korea a few hours after the store opened. According to the companies, Ko

IndustryApril 17, 2012

Cigarette smokers penalized as anti-smoking efforts intensify across all industriesA number of companies are going beyond the usual anti-smoking campaign to put smokers at a disadvantage for promotions or perks. Samsung Electronics Co. recently joined in taking this strong-handed approach, signaling similar moves in other large firms.The electronics giant sent out an e-mail to its 35,000 employees in the device solution division on Friday, warning that smoking will be detrimental to their chance

IndustryApril 17, 2012

The M1.7-class solar flare (NASA/GSFC/SDO)The sun unleashed a beautiful prominence eruption from its east limb on Monday, sending out super-heated plasma.The solar flare occurred at 1745 GMT and registered as a moderate M1.7-class on the scale of sun storms.From news reports<관련 한글 기사>화려한 태양 표면 폭발 '플레어' 발생화려한 태양 플레어가 그리니치표준시로 16일 오후 5시 45분(한국시간 17일 오전 1시 45분)경 발생했다. 플레어는 태양 표면에서 일어나는 폭발로 강력한 방사능이 다

TechnologyApril 17, 2012

Samsung Electronics chairman Lee Kun-hee said Tuesday he will not back down in the inheritance battle with his siblings, vowing that he will even take it to the Constitutional Court.“If they file suits against me, I will take the same actions and I am even thinking of going to the Constitutional Court, taking it a step further than the Supreme Court,” he said. “I have no intention of giving them any money.”Indicating that the property-sharing already took place between the siblings, CJ Group has

IndustryApril 17, 2012

If there is life on Mars it may be lurking in craters formed by asteroid impacts on the planet's surface, as has happened on Earth, Scottish scientists say.This undated image provided by NASA shows the Gale Crater on Mars. (AP-Yonhap News)Researchers at the University of Edinburgh said organisms have been found living deep beneath a site in Chesapeake Bay in the United States where an asteroid cra

TechnologyApril 17, 2012

The Bank of Korea slashed its 2012 economic growth outlook on Monday, citing the slower growth of the global economy and high oil prices that threaten Asia’s fourth-largest economy. BOK revised the growth projection to 3.5 percent for the whole year, down from 3.7 percent it forecast in December. The growth rate will be 3 percent in the first half before firming up to 3.9 percent in the second half, according to the BOK. Korea’s gross domestic product expanded 3.6 percent last year.The central b

April 16, 2012

DUBROVNIK, Croatia ― More Korean firms plan to flex their muscles at the upcoming consumer electronics trade show in Berlin with Samsung Electronics already confirmed to have the largest display space, said a key executive of the organizing body on Saturday.“We will have more Korean firms but no area expansion,” Jens Heithecker, global executive director and vice president of Messe Berlin Group, said in an interview with the Korean press. “They already have the largest display space and it’s big

IndustryApril 16, 2012

Korea Hydro & Nuclear Power Co. chief executive Kim Jong-shin stepped down on Monday amid simmering criticism over recent power outages and cover-up attempts an atomic plant. His resignation will be accepted by Cheong Wa Dae and the selection process for his successor will be under way soon, Knowledge Economy Minister Hong Suk-woo said. “I’ll try naming his successor quickly so as not to create a vacuum in the company’s operations,” Hong told reporters at a meeting. The country’s sole nuclear pl

IndustryApril 16, 2012