The Korea Herald

Insurers fined W365b for price-fixing

Samsung Life, Mirae Asset among those punished for collusionTwelve life insurance companies were fined a total of 365.3 billion won ($315 million) by the antitrust regulator for engaging in price-fixing.The Fair Trade Commission unveiled the list of the companies Friday ― Samsung, Kyobo, Korea, Mira

Oct. 14, 2011

Apple scoffs at Samsung’s mobile patent infringement claim

SEOUL (Yonhap) -- A lawyer for Apple Inc. said Friday that Samsung Electronics Co.’s mobile patent lacks novelty and was not invented by the Korean firm, the iPhone maker’s latest attempt to counter the accusation that it is using its rival’s technology without permission. The latest court showdown

TechnologyOct. 14, 2011

Google said to seek rights from record labels for online store

Google Inc. is seeking agreements with record companies by the end of the month to start a music store that will compete with Apple Inc.'s iTunes, three people with knowledge of the talks said. Google is seeking permission to sell downloads and to stream purchased music to its customers' devices, sa

TechnologyOct. 14, 2011

Moody's downgrades LG Electronics' outlook to negative

Moody's Investors Service said Thursday that it has cut its outlook on LG Electronics Inc. to negative from stable, citing its loss-making mobile business and global economic slowdown. The move deals another blow to LG Electronics, the world's third-largest maker of mobile phones, which is trying to

Oct. 13, 2011

Samsung, LG Electronics under investigation for price-fixing

Korea’s two largest electronics firms Samsung Electronics Co. and LG Electronics Inc. are under investigations by the Fair Trade Commission for allegedly fixing prices of TVs and laptops, Yonhap News Agency reported Thursday. The watchdog is said to have started reviewing sales documents and related

IndustryOct. 13, 2011

Obama wants more Fords, Chevys in Korea

President Barack Obama says he wants to see folks in South Korea driving Fords and Chevys and Chryslers. A trade agreement approved by Congress last night may not separate Korean drivers from their Hyundais and Kias anytime soon.U.S. exports of beef, machinery and chemicals may all gain from the agr

Oct. 13, 2011

Moody’s lowers LGE’s outlook to negative

Moody’s Investors Service lowered the outlook for LG Electronics from stable to negative on Thursday, citing the firm’s weakened position in the handset business and the uncertain global economy.With economic uncertainty leading to weakness in profitability and credit metrics, LG Electronics’ rating

IndustryOct. 13, 2011

‘Premature birth needs 35 weeks’

A group of doctors here say it is safer for Korean women to give birth at 35 weeks or later, even should premature labor be required, suggesting a different view from U.S. obstetricians’ 34 week theory. Thirty-five weeks is the minimum period of time for the fetus to be able to protect itself from v

TechnologyOct. 13, 2011

NCC lung cancer survival rate exceeds 50%

Thirty-nine out of 81 lung cancer patients who underwent surgery to remove tumors in 2001 at the National Cancer Center have lived till now, the hospital said Wednesday. Moreover, the hospital’s five-year survival rate marked 65 percent. Among them, two out of every three survivors were declared “he

TechnologyOct. 13, 2011

Autumn season hair care

Human hair usually has a growth cycle. It is made up of three periods: growth season; catagen season and telogen season.The growth phase of hair is about three years, catagen phase is about three weeks and then there is a pause for about three months. This is continually repeated. In contrast to ani

TechnologyOct. 13, 2011

Obese population growing in Korea, with estimated 70,000 serious cases

Being fat used to represent wealth in the old days, when life was hard.But nowadays, it has emerged as a social issue for a very different reason: it is not healthy. According to the Ministry of Health and Welfare, about 31.3 percent of adults are likely to become overweight once in their lifetime a

TechnologyOct. 13, 2011

Obese population growing in Korea, with estimated 70,000 serious cases

Pancreatic cancer 4th most deadly

Death of Apple founder Jobs, Steinman highlights cancer with few treatmentsPancreatic cancer is notoriously lethal ― there are almost as many deaths from it each year as there are new cases. The deaths this week of Apple founder Steve Jobs and Nobel laureate Ralph Steinman have brought more attentio

TechnologyOct. 13, 2011

Panel advises against prostate cancer screening

WASHINGTON (AP) ― No major medical group recommends routine PSA blood tests to check men for prostate cancer, and now a government panel is saying they do more harm than good and healthy men should no longer receive the tests as part of routine cancer screening.The panel’s guidelines had long advise

TechnologyOct. 13, 2011

Shares up on eurozone optimism

South Korean stocks closed 0.75 percent higher on Thursday as foreigners snapped up shares on growing hopes the eurozone will succeed in tackling its debt debacle, analysts said. The local currency gained against the U.S. dollar.The benchmark KOSPI climbed 13.6 points to 1,823.1. Trading volume was

Oct. 13, 2011

Lone Star not to appeal guilty verdict

Hana-Lone Star deal totally up to FSCThe Financial Services Commission will announce the procedures for its coming action under which Lone Star Funds will be deprived of its status as the biggest shareholder of Korea Exchange Bank.The regulator’s stance comes several hours after U.S.-based Lone Star

Oct. 13, 2011

CJ files suit to allow generic Viagra

Food and pharmaceutical company CJ CheilJedang on Wednesday filed a nullity suit against Pfizer over the “use” patent of impotence medicine Viagra. “This is the first lawsuit filed to nullify the patent of Viagra in Korea. Other drug companies that are preparing for the generic forms are also keepin

IndustryOct. 13, 2011

Business community welcomes U.S. decision, urges approval in Korea

Korea-based companies and business organizations welcomed the U.S. legislatures’ decision to approve the Korea-U.S. Free Trade Agreement on Thursday.Companies and associations of industries with high dependence on exports were among the most vocal in welcoming the deal. The Korea Automobile Manufact

Oct. 13, 2011

EU trade chief sees better eurozone next month

The European economy is struggling to contain its deepening crisis at the moment but it will show progress starting next month, Karel De Gucht, the European Union’s trade commissioner, said Thursday in Seoul.Speaking to journalists at a forum in Seoul, he pinned his hopes on the European Commission’

IndustryOct. 13, 2011

EU trade chief sees better eurozone next month

Samsung to proceed with legal options on Galaxy Tab ban

Australian court hands another patent victory to Apple Inc.Samsung Electronics said Thursday that it will proceed with immediate legal options after an Australian court slapped a temporary ban on its Galaxy Tab 10.1, handing another victory to its rival Apple in their global patent war.“We express o

IndustryOct. 13, 2011

Samsung to proceed with legal options on Galaxy Tab ban

Opposition still hurdle for ratifying U.S. FTA

Democratic Party, liberal groups demand renegotiation on 10 pointsThe process of bringing the Korea-U.S. Free Trade Agreement into effect is likely to be a rocky one despite receiving approval from the U.S. legislature.According to Deputy Trade Minister for FTA negotiations Choi Seok-young, Korea’s

Oct. 13, 2011

Opposition still hurdle for ratifying U.S. FTA