The Korea Herald

U.S. deaths from painkiller overdoses triple in a decade

NEW YORK (AP) ― The number of overdose deaths from powerful painkillers more than tripled over a decade, the government reported Tuesday ― a trend that a U.S. health official called an epidemic, but one that can be stopped.Prescription painkillers such as OxyContin, Vicodin and methadone led to the deaths of almost 15,000 people in 2008, including actor Heath Ledger. That’s more than three times the 4,000 deaths from narcotics in 1999.Such painkillers “are meant to help people who have severe pa

TechnologyNov. 3, 2011

U.S. deaths from painkiller overdoses triple in a decade

Beware of carpal tunnel syndrome

Doctors advise cyclists to rest their wrists occasionally while ridingThirty-five-year-old Park rides a bicycle to work every day. He started to commute by bike in March and his mileage so far tops 10,000 kilometers.In the beginning, things seemed to progress smoothly. He lost weight and felt healthier. But recently, he began experiencing numbness around his wrists. The pain grew so severe and so quickly that he could not even move his hands at times. He was diagnosed with carpal tunnel syndrome

TechnologyNov. 3, 2011

Park sees R&D a core competence for Sungho Electronics

Kosdaq-listed frontrunner in capacitor eyes future-oriented items for growthPark Hwan-woo, president and CEO of KOSDAQ-listed Sungho Electronics Co. (www.sungho.net) was quick to use metaphor in explaining what the company’s core business is. And his metaphor of choice is a human heart. Not that Sungho is making an artificial heart. The company’s specialty is producing capacitors, a component used extensively for a variety of electronic devices. So instead of blood, Park said the capacitors pump

CompaniesNov. 3, 2011

POSCO inks supply deal with European home appliance maker

POSCO, South Korea’s leading steelmaker, said Thursday that it has signed a steel supply contract with a European home appliance maker, a deal that will help the steelmaker expand its presence there.Under the deal with Gorenje, the largest Slovenian manufacturer of home appliances, POSCO will supply steels, including cold-rolled steel plates used for the production of refrigerators and washing machines, over the next three years.POSCO did not give specifics on how many steel plates it will suppl

IndustryNov. 3, 2011

Korea rushes for resources, infrastructure in Africa

Miners, builders, electronic giants seek business in world’s fastest-growing marketAfter a decade of ceaseless pushing for growth, the BRICs appear to have begun slowing down. Now Asia, which steered a global shift in economic gravity, faces spillover threats from teetering rich countries. Regardless, the success story continues ― in Africa, the last frontier.Powered by surging foreign investment and exports of natural resources, six of the world’s 10 fastest-expanding economies over the last de

IndustryNov. 3, 2011

Korea rushes for resources, infrastructure in Africa

B20 Summit business leaders call for multi-currency system to replace dollar

Business leaders attending the B20 Summit called for political leaders to push for the establishment of a multi-currency key currency system.At the meeting of business leaders in Cannes, France held ahead of the G20 Summit, attendees said that the dollar-based currency system amplified economic risks and that a multi-currency system would reduce costs for corporations and uncertainties in the global economic environment.In the statement, the attendants also said that the yuan and other emerging

IndustryNov. 3, 2011

B20 Summit business leaders call for multi-currency system to replace dollar

Hyundai, Kia vehicles win Canadian awards

Five vehicles made by Hyundai Motor Co. and its affiliate Kia Motors Corp. have won 2012 Canadian Car of the Year awards, industry sources said Thursday.The cars that ranked first in their sections were Hyundai’s Accent subcompact, Elantra compact and Veloster compact sports car and Kia’s Optima and Optima hybrid mid-size sedans.Sources said the five awards mark the highest number of honors given to a carmaker in the North American country and reflects sharp improvements in both design and perfo

IndustryNov. 3, 2011

SC First Bank mulls offering 24-hour service

CEO Hill promotes reform to compete with local commercial banksStandard Chartered First Bank Korea is considering opening several branches which offer offline and online services 24 hours a day and seven days a week, the first of their kind in the local financial sector.For the plan, the bank is reportedly benchmarking the case of a Singapore unit of the U.K.-based Standard Chartered Group.“In a shopping mall in Singapore, there is an SC bank branch providing customers with services till late at

Nov. 3, 2011

LGE targets built-in home appliance market

Electronics giant to join hands with Viking Range to dominate market within 3 yearsLG Electronics announced Thursday it will join hands with Viking Range Corp. to break into the ultra premium built-in home appliance market in Korea, possibly garnering over half of the market within three years.Lee Young-ha, president of LG’s home appliance business, said the companies will be featuring two different sets of built-in home appliances ― the signature and professional series ― for the high-end premi

IndustryNov. 3, 2011

LGE targets built-in home appliance market

Korea eyes ‘alternative’ gas stations in fight to reduce inflation

The government on Thursday outlined plans to transform about 10 percent of the country’s gas stations into “alternative” vendors to supply petroleum products as part of its fight against runaway fuel prices.Seeking to lessen the dominance of the country’s four refiners and stimulate competition, the government has devised measures that includ multiplying non-franchise and self-service stations.Through the plan, ministry officials expect to cut gas prices by around 100 won (9 cents) per liter by

IndustryNov. 3, 2011

Shoplifting, employee theft cost retail industry W2 trillion: report

Shoplifting, employee and supplier fraud, organized retail crime and administrative errors cost the nation’s retail industry 2.41 trillion won ($2.13 billion) over the past year, an international report found Thursday. The amount was equivalent to 1.3 percent of the industry’s total sales in 2011, according to the Global Retail Theft Barometer Report, which monitors the cost of “shrink” in the global retail industry. Korea was first included this year on the list of 43 countries to be surveyed o

IndustryNov. 3, 2011

Incheon Airport honored for service excellence

Incheon International Airport Corp. said Thursday it has been honored as one of the world’s best airports for its superior services by the Airports Council International, a global association of airports.In the new “Roll of Excellence” program, the council listed airports that have made if into the top five in terms of service quality for five consecutive years and lauded Incheon, the sole Asian airport operator that has reigned as the best airport for six years in a row to 2010.Hong Kong’s Chek

IndustryNov. 3, 2011

LGE to raise W1tr via share issue

LG Electronics said Thursday it will issue new shares worth about 1.062 trillion won ($939 million), for the first time in six years in a sign that the company is in need of financing facility investments and other capital expenditures for next year.The company announced that it will issue 19 million new shares priced at 55,900 won per share and list them on Jan. 9.“The purpose of issuing new shares is to increase the competitiveness of our core businesses, such as smartphones, and secure our in

IndustryNov. 3, 2011

5 credit card firms face security audit

The Financial Supervisory Service is set to conduct inquiries into five credit card companies to monitor their cyber security measures against possible leaks of customer information.The firms are BC Card, Shinhan Card, Hyundai Card, KB Kookmin Card, Lotte Card.BC Card has been scheduled to be under yearly regulatory probe and the remaining four issuers will be subject to extraordinary scrutiny in the wake of the frequent financial accidents in the credit card sector.The FSS has already completed

Nov. 3, 2011

Wealth inheritance via offshore tax evasion uncovered

The National Tax Service said Thursday that it has collected an additional 278.3 billion won ($246.3 million) from 11 entrepreneurs who have transferred property to their children via overseas tax evasion. It is the first time for the taxation agency to find such illegal cases of property succession using overseas tax havens. Found were cases in which people were engaged in international businesses such as manufacturing, trade and developing natural resources abroad. A company owner, the largest

IndustryNov. 3, 2011

Wealth inheritance via offshore tax evasion uncovered

Removing ‘deadbeat’ cells in mice blunts physical decline from aging

A natural anti-cancer mechanism that causes cells to stop dividing and go into limbo also drives the aging process, according to a study in mice that found removing the cells slows the physical decline that comes with age. The breakthrough answers a riddle about the effect of the cells that ref

TechnologyNov. 3, 2011

Removing ‘deadbeat’ cells in mice blunts physical decline from aging

Yahoo hopes to reach readers with iPad magazine

SUNNYVALE, Calif. (AP) — Yahoo has begun to distribute an iPad magazine that illuminates the Internet company's ambitions and the chronic hiccups that have thrown its fate into doubt.The free magazine, called Livestand, has intriguing potential because its software can be customized to pull a

IndustryNov. 3, 2011

FDA approves innovative, non-invasive heart valve

WASHINGTON (AP) — Federal health officials have approved a first-of-a-kind artificial heart valve that can be implanted without major surgery, offering a new treatment option for patients who are too old or frail for the chest-cracking procedure currently used.The Food and Drug Administration

TechnologyNov. 3, 2011

Corporate regulator puts 13 more firms on watch list

SEOUL, Nov. 3 (Yonhap) -- South Korea's antitrust watchdog said Thursday that it has placed 13 more companies on its watch list that limits mutual investments and loan guarantees.The Fair Trade Commission (FTC) said the number of corporate affiliates on the list stood at 1,618 from 55 business group

Nov. 3, 2011

FSC under pressure to penalize Lone Star

The Financial Services Commission has been under mounting pressure to take stern action against Lone Star Funds, which was convicted of manipulating stocks of Korea Exchange Bank’s credit card affiliate.In particular, a group of lawmakers, professors and lawyers are calling on the FSC to reject Hana Financial Group’s application to acquire KEB from Lone Star.Their calls come amid speculation that the FSC may “simply” order the U.S.-based fund to dispose of its stake in KEB, a decision that could

Nov. 2, 2011