IBK Securities likely to acquire Kumho Industrial

A private equity fund of IBK Securities is expected to take over a large portion of Kumho Industrial worth 1 trillion won ($877 million), according to creditors of the Kumho Asiana Group’s unit.On Friday, creditor banks selected IBK Securities, a brokerage unit of the state-run Industrial Bank of Korea, as the preferred bidder for a package of Kumho Asiana’s transportation units.The M&A targets included Kumho Industrial’s 100 percent stake in Kumho Buslines, 38.74 percent in Seoul Express Bus Te

Dec. 23, 2011

Shares rise 1.07% on U.S. optimism

Korean stocks closed 1.07 percent higher on Friday as upbeat U.S. economic data eclipsed concerns over the eurozone debt crisis, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark KOSPI jumped 19.73 points to 1,867.22. Trading volume was moderate at 459.1 million shares worth 4.25 trillion won ($3.7 billion), with gainers outnumbering decliners 584 to 248.“Positive U.S. job data and consumer sentiment index bolstered hopes on a strengthening U.S. economy and

Dec. 23, 2011

HIV trial is 'breakthough' of 2011

WASHINGTON, Dec 22, 2011 (AFP) - A landmark clinical trial that showed HIV drugs can be as effective as condoms in preventing transmission of the virus that causes AIDS was declared Science magazine's breakthrough of the year on Thursday.Other top achievements of 2011 included a Japanese spacecraft'

TechnologyDec. 23, 2011

Apple unlikely to win German ban on Samsung Galaxy 10.1N

Dec. 22 (Bloomberg) -- Apple Inc. is unlikely to win a ban on sales of Samsung Electronics Co.’s Galaxy 10.1N tablet computer, a modified version introduced after sales of the original tablet were blocked, a German court said.The Dusseldorf court that banned sales of the Galaxy 10.1 on Sept. 9 is un

TechnologyDec. 23, 2011

Hana Financial to take over two savings banks

Hana Financial Group is expected to take over Jeil 2 Savings Bank and Ace Mutual Savings Bank, beating another bidder Kiwoom Securities, according to government officials.An official of the Korea Deposit Insurance Corp. said Thursday that the state-run agency will unveil the preferred bidder as early as Friday. He added that “there is a high possibility that Hana Financial will be picked.”Jeil 2 Savings Bank, which is headquartered in Seoul, has assets of 503.7 billion won ($441.8 million). Ace

Dec. 22, 2011

Vaccine attacks breast cancer in mice: study

WASHINGTON (AFP) ― Scientists in the United States said Monday they have developed a vaccine that attacks tumors in mice, a breakthrough they hope will help fight breast, colon, ovarian and pancreatic cancer in humans.Although studies on mice often do not translate directly into remedies that work for human subjects, researchers are hopeful because of the strength of the vaccine and the particular approach it takes.“This vaccine elicits a very strong immune response,” said study co-senior author

TechnologyDec. 22, 2011

Ewha med center buys new PET device

Ewha Womans University Medical Center said it has been equipped with a positron emission tomography scanner, a first for Korea.The device produces medical imaging while halving patients’ exposure to CT radioactivity, the hospital said.“It will lessen people’s anxiety regarding radioactivity, which is essential in medical imaging devices,” said Dr. Kim Bong-san, in charge of the device operation.(baejisook@heraldm.com)

TechnologyDec. 22, 2011

The facts about heart attacks

Cardiac disease Koreans’ third-biggest cause of death; best prevention includes not smokingThe news of North Korean leader Kim Jong-il’s death of myocardial infarction has brought the disease into the public view again. According to Statistics Korea and the Ministry of Health and Welfare, cardiac disease is the third-biggest cause of death for Koreans behind cancer and cerebrovascular diseases. In 2010, 23,407 people, or 9.2 percent of all fatalities, died of heart disorders. The U.S. National I

TechnologyDec. 22, 2011

Saccharin to be allowed in more foods

The Korea Food and Drug Administration is to allow the use of saccharin in gum, soju, makgeolli and other foods. The substance has been off the list of food additives except in a limited number of cases due to its health risks.According to the KFDA, the substance will be allowed for use in eight food categories: sauce, unrefined rice wine (commonly referred to as makgeolli), chewing gum, soju, soy sauce, tomato ketchup and coffee. It is currently used in kimchi, some beverage products and pickle

TechnologyDec. 22, 2011

Korea‘s labor productivity improves in Q3

South Korea’s labor productivity rose from a year earlier in the third quarter with improvements in both the manufacturing and service industries, the government said Thursday.The labor productivity for the manufacturing industry rose 2.6 percent to 121.8 from the same period last year with that of the service industry rising 1.3 percent to 108.4, according to the Ministry of Knowledge Economy.Labor productivity is measured by dividing industrial output by labor input during a given period of ti

Dec. 22, 2011

Samsung, LG to unveil 55-inch OLED TV at CES next month

Samsung Electronics and LG Electronics are planning to showcase new 55-inch OLED televisions at the Consumer Electronics Show in Las Vegas next month.According to industry sources, the two TV makers are looking into commercializing the large OLED TVs later this year after unveiling them at the electronics trade show which launches on Jan. 10.OLED ― Organic Light Emitting Diodes ― televisions are known to be thinner, lighter, brighter and more efficient, presenting faster refresh rates and better

IndustryDec. 22, 2011