Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Insomnia linked to higher heart attack risk
As if you didn't have enough to worry about during those sleepless nights, a Norwegian study out Monday suggests that people with insomnia face a 27 to 45 percent higher risk of heart attack.About one-third of people report having trouble sleeping and should see a doctor for help, urged the authors
TechnologyOct. 25, 2011
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VW likely to overtake Toyota as top carmaker in 2011
Volkswagen AG will probably become the world’s biggest carmaker this year, vaulting past Toyota Motor Corp. and General Motors Co . on gains in emerging markets.Volkswagen AG will probably become the world’s biggest carmaker this year, vaulting past Toyota Motor Corp. and General Motors Co . on gain
MobilityOct. 25, 2011
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Regulator set to order Lone Star to sell KEB stake
SEOUL, Oct. 25 (Yonhap) -- South Korea's financial regulator is expected to order Lone Star Funds to sell the bulk of its stake in Korea Exchange Bank (KEB) after the U.S. buyout firm said it cannot meet the requirements as the major shareholder of the fifth-largest lender, watchers said Tuesday.Lon
Oct. 25, 2011
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Oil prices expected to slip 8 percent next year: report
SEOUL, Oct. 25 (Yonhap) -- International crude oil prices are expected to fall up to 8 percent in 2012 from this year's levels as demand for oil products decline in line with the global economic slump, a report showed Tuesday.The price of Dubai crude, South Korea's benchmark, would trade at a range
IndustryOct. 25, 2011
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Korea fuels fight against fake petrol
The government and local refiners are joining forces to root out rampant fuel adulteration across Korea by issuing tougher penalties and tipster rewards.Early this month, the government declared an all-out war against fake fuel, sharply raising fines for gas station owners selling adulterated petrol products and seeking ways to cancel their business licenses once caught.Hyundai Oilbank Co., the country’s smallest refiner, boosted the drive on Sunday by offering tipsters cash rewards of up to 5 m
Oct. 24, 2011
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Korea, Indonesia agree to seek free trade deal
South Korea and Indonesia agreed to significantly boost their economic ties, a move that will include the signing of a free trade deal at an early date, the Seoul government said Monday.The countries have also agreed to seek what they called joint “mega projects” that will symbolize their economic cooperation and Seoul’s support for the economic development of the Southeast Asian country, according to the Ministry of Knowledge Economy.The agreements came at a Seoul meeting of the countries’ join
Oct. 24, 2011
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Finance chief calls for fiscal soundness
South Korea should strengthen its fiscal health to brace for growing welfare demand from the nation’s fast-aging population and protracted low birth rates, the top economic policymaker said Monday.“Low birth rates and aging population could result in decreasing the number of economically active people and hiking welfare spending, all of which could undercut the nation’s growth potential and worsen its fiscal status,” Finance Minister Bahk Jae-wan told a gathering in Seoul.“We should prepare ours
Oct. 24, 2011
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63 Building to undergo major renovation
The 63 City Building, the nation’s second-tallest building, will undergo a five-year renovation including the replacement of its 13,400 gold-tinted windows, industry sources said Monday. The 249-meter-high skyscraper in Yeouido, Seoul’s financial district, is currently home to more than 10,000 employees of Korea Life Insurance and other companies. The landmark building also houses a number of foreign companies operating in Korea.The large-scale renovation, including the remodeling of vacant offi
IndustryOct. 24, 2011
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Jobs admired Zuckerberg for ‘not selling out’
Steve Jobs, who mentored Silicon Valley technology leaders in the months before he died, said he admired Facebook Inc. co-founder Mark Zuckerberg for “not selling out.” “We talk about social networks in the plural, but I don’t see anybody other than Facebook out there,” Jobs told biographer Walter I
TechnologyOct. 24, 2011
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Asiana teams up with KOICA for development aid program
Asiana Airlines signed up to the Korea International Cooperation Agency’s public-private partnership program on Monday.Companies taking part in the program collaborate with KOICA to carry out development aid projects in developing countries. The partner from the private sector is signed on for one year.The carrier said the KOICA selected the company for partnership in recognition of its corporate social responsibility programs. Asiana Airlines has been working on social contribution projects in
IndustryOct. 24, 2011
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NTS to foster foreign investor-friendly environment
The following was contributed by National Tax Service Deputy Commissioner Kim Moon-soo. ― Ed.The size of foreign direct investment in 2010 was $13.1 billion, the largest amount since 2000. Although difficult to quantify, foreign investment certainly helped Korea overcome the 1997 economic crisis and achieve economic growth of 6.1 percent last year. However, amid growing uncertainties in the global markets, the Korean economy expects difficulties in achieving this year’s FDI target of $15 billion
Oct. 24, 2011
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Financial malpractice causes W274b losses
Costs incurred due to embezzlement, fraud by employees triple over 4 yearsThe cost of embezzlement and fraud by employees at South Korean financial firms has more than tripled in four years, according to the country’s top financial regulator.The Financial Supervisory Service said malpractice by employees at banks and other financial firms reached 274 billion won ($240 million) in 2010, sharply rising from 87.4 billion won in 2006. The irregularities were discovered and punished across the secto
Oct. 24, 2011
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LSIS completes plant for high voltage valves
LSIS Co.’s plant for the production of high voltage direct current transmission systems was completed on Monday.Located within Busan-Jinhae Free Economic Zone, the facility is the country’s first plant for producing high-voltage direct current transmission equipment.The 110 billion won plant ($97 million) is equipped with facilities for assembling and testing all related equipment, and a production line for thyristor valves, which is an essential component of the transmission system, the company
IndustryOct. 24, 2011
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Credit card firms defy debt control efforts
The number of credit cards issued increased this year, despite government efforts to reduce credit card use in a bid to control household debt.According to data released by the Credit Finance Association on Monday, the total number of credit cards issued was 122.3 million during the first half of this year. A total of 116.6 million credit cards were issued last year.This year’s record number means that every job-holder has 4.9 credit cards on average, according to officials. The nation’s populat
Oct. 24, 2011
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Korean manufacturers hit by financial crisis: poll
Nearly 60 percent of South Korean manufacturers think that the current global economic turmoil has dealt a blow to their business conditions and performances, a poll showed Monday.According to the survey on 518 manufacturing companies, 57.9 percent said that their business conditions have worsened from the first six months of the year due to the crisis stemming from U.S. and European debt woes, while 42.1 percent responded they are better off. By industry, nearly 80 percent of petrochemicals and
Oct. 24, 2011
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KT, BC Card seek convergence to lead mobile payment market
Mobile payment services can be an answer to the current controversy over high commission fees for credit card payment, KT chairman Lee Suk-chae said Monday. KT Corp., which became the largest shareholder of BC Card in February, announced in the day the company’s new vision to expand business into mobile payment services. “We would not try to compete with other credit card or communications companies but will offer payment services for them to further grow,” Lee told reporters at KT’s headquarter
IndustryOct. 24, 2011
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Gumi looks beyond semiconductors
Mayor Nam says many Japanese companies looking to relocate to Korean cityFor Gumi, Korea’s Silicon Valley, making sure that foreign direct investment keeps flowing into the city is a daily endeavor.To highlight the city’s appeal as a high-tech powerhouse, Herald Media organized a trip for commercial attaches so that they could get a firsthand account of a city that is a model for overcoming the crisis and fueling the nation’s economy.Gumi’s national industrial complexes were established with the
Oct. 24, 2011
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Korea ups fight against fake petrol
The government and local refiners are joining forces to root out fuel adulteration rampant nationwide as they step up their crackdown and relay measures such as tougher penalties and tipster rewards.Early this month, the government declared an all-out war against fake fuel, sharply raising fines for gas station owners selling adulterated petrol products and seeking legal support to cancel their business licenses once caught.Hyundai Oilbank Co., the country’s smallest refiner, gave an impulsion t
Oct. 24, 2011
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Seoul shares jump 3.26% on hopes for eurozone
South Korean stocks closed 3.26 percent higher Monday as investor sentiment was underpinned by growing prospects for solutions to curb the eurozone debt woes, analysts said. The local currency rose against the U.S. dollar.The benchmark KOSPI rose 59.94 points to close at 1,898.32. Trading volume was moderate at 369.3 million shares worth 6.66 trillion won ($5.88 billion) with gainers outpacing losers 691 to 165. “Growing hopes for resolving the eurozone debt crisis gave solace to investors,” sai
Oct. 24, 2011
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NPS chief sees EU opportunities
National Pension Service boosts overseas real estate investmentsNational Pension Service chairman Jun Kwang-woo said he sees investment opportunities in Europe as major state properties, such as Spain’s Madrid Airport, are to be privatized.In an interview with the Yonhap news agency after his Europe trip for an industry forum Sunday, the head of the world’s fourth-largest pension fund said NPS will be “actively eying” the undervalued properties expected in the market as some states enter debt re
Oct. 24, 2011