SLS Group on verge of collapse

SLS Group, which came to public attention on Thursday when its chairman Lee Kuk-chul accused former vice minister of culture Shin Jae-min of taking billions of won in bribes, is facing disintegration. Lee, a former civil servant, began his career as a businessman with a factory producing parts for t

IndustrySept. 22, 2011

'Longevity gene' may be dead end: study

Research over the last decade showing that proteins called sirtuins can increase lifespan is deeply flawed, according to a new study in Nature that debunks prior claims of a direct causal link.Pioneering experiments on earthworms and fruitflies -- commonly used as models to examine the biology of hu

TechnologySept. 22, 2011

Study: Dialysis 3 times weekly might not be enough

LOS ANGELES (AP) — A major study challenges the way diabetics and others with failing kidneys have been treated for half a century, finding that three-times-a-week dialysis to cleanse the blood of toxins may not be enough.Deaths, heart attacks and hospitalizations were much higher on the day a

TechnologySept. 22, 2011

Foreign capital outflow top concern for S. Korea: regulator

SEOUL, Sept. 22 (Yonhap) -- South Korea's top financial regulator said Thursday the potential outflow of foreign capital is the biggest concern for the South Korean economy, which is highly vulnerable to external uncertainties. "The rapid outflow of foreign capital is the area we are most worried ab

Sept. 22, 2011

Vote for Jeju and ...win a Hyundai

Cast your vote to make Jeju Island a New 7 Wonders of Nature and you may win a Morning or a tablet PC, Hyundai Motor Co. said Wednesday. The largest carmaker here said a total of 50 successful votes will be picked by lottery by Nov. 11 when the global campaign ends. The Official ‘New7Wonders of Natu

Sept. 21, 2011

SKT to reorganize divisions

SK Telecom announced on Wednesday that it will rearrange business divisions in time for the launch of SK Planet on Oct. 1. The company also said that it will carry out an executive reshuffle. SK Planet will be a new subsidiary created by spinning off SK Telecom’s platform business.Under the plans, S

IndustrySept. 21, 2011

Seoul to provide W4tr in Nonghyup restructuring aid

The government has decided to provide 4 trillion won ($3.5 million), or 15.7 percent, of the total needed to restructure state-run National Agricultural Cooperative Federation, the Finance Ministry said Wednesday. The amount is 2 trillion won short of the 6 trillion won requested by Nonghyup, the co

Sept. 21, 2011

Weaker won a mixed blessing for exporters

A rapid decline of the Korean won against the U.S. dollar is expected to boost sales of local exporters such as automakers and electronics manufacturers, analysts said on Wednesday. The depreciation of the local currency, or a drop in the value of the Korean won, is generally viewed as a factor that

Sept. 21, 2011

NCsoft to give out signed baseballs

NCsoft, owner of the newly created baseball team, the “NC Dinos,” will give out official balls signed by Dinos coach Kim Kyung-moon and ace baseball player Na Sung-beom as a part of an event to promote a new application.In what can be translated into “A Fun Guide to Baseball,” NCsoft’s new applicati

IndustrySept. 21, 2011

Amore Pacific to sponsor organic forum

Cosmetics maker Amore Pacific on Wednesday said it would be sponsoring the 17th conference of the International Federation of Organic Agricultural Movements to be held here next month.Several of Amore Pacific’s brands such as Osulloc will be participating as sponsors, the company said.The conference

IndustrySept. 21, 2011

Customs agency nabs W2.5tr of foreign currency violations

South Korea’s customs agency said Wednesday that it has clamped down on illegal foreign currency dealings worth 2.5 trillion won ($2.2 billion) so far this year.During the January-August period, the Korea Customs Service said in a report, it detected 1,145 cases of illegal foreign currency dealings

Sept. 21, 2011

Two savings banks probed for irregularities

The Financial Supervisory Service said Wednesday that it has uncovered two savings banks ― Jeil and Ace ― which have issued irregular loans to ailing builders over the past few years.The regulator filed complaints the two lenders and nine other banks in the secondary banking industry with the prosec

Sept. 21, 2011

Seoul sets W23tr for infrastructure

Next year’s national budget to focus on investment, welfare, job growthThe government plans to allocate 22.6 trillion won ($19.8 billion) for social infrastructure projects next year, emphasizing that the 2012 budget plan, unveiled next week will focus on upping investment in public works, welfare a

Sept. 21, 2011