Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Job creation lowest on record among under-30s
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Opposition chief acquitted of instigating perjury
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Volvo Korea disguising who owns it?
Volvo Cars Korea has been providing consumers with outdated information over the automaker’s ownership structure on its website for about a year.Though China-based Zhejiang Geely Holding Group completed acquisition of Swedish-founded Volvo Cars from U.S.-based Ford Motor in the third quarter of 2010
MobilitySept. 18, 2011
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Government suspends 7 savings banks
The financial regulator on Sunday suspended operation of seven more savings banks that have failed to meet capital adequacy ratio set by the International Bank of Settlements, including major players Tomato and Jeil. A total of 16 savings banks have been suspended so far this year.“We decided t
Sept. 18, 2011
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KT in talks to buy Enswers to bolster cloud computing
South Korean telecom titan KT Corp. is moving to buy Enswers Inc., a Seoul-based video search technology provider, to prop up its cloud computing business, industry sources said Sunday. The deal could fetch Enswers as much as 40 billion won ($36 million), the sources said, all speaking on the condit
TechnologySept. 18, 2011
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Alleged renegade UBS trader had luxury lifestyle
LONDON (AP) — Educated at an exclusive school in a picturesque patch of English countryside, Ghana-born trader Kweku Adoboli was known to neighbors as a polite and well dressed young man who mixed grueling hours in London's financial district with a lavish social life in the capital's nightspo
Sept. 17, 2011
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Sales of Europe luxury goods up after FTA
European fashion brands are enjoying increased demand here after a free trade pact between Korea and the EU took effect on July 1, industry sources said Friday.French brand Louis Vuitton logged 91.2 billion won ($82.6 million) between July 1 and Sept. 14, up 16.9 percent from 78 billion won a year e
IndustrySept. 16, 2011
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Minister hints at blackout compensation
Disputes are rising over compensation after an unprecedented power failure swept the nation on Thursday. Seoul and many other parts of Korea suffered serial power cuts after a sudden hike in electricity consumption. Unlike large companies with an independent power operating system, smaller businesse
Sept. 16, 2011
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Sony bets big on headphone market
TOKYO ― Sony Corp. on Thursday said it will be releasing in November a new range of headphones, predicting that sales will soar over the next few years on the back of the smartphone craze. “With this tiny headphone driver, Sony will make a big splash this autumn,” said Katsuya Nakagawa, senior gener
IndustrySept. 16, 2011
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Seoul to unveil list of troubled savings banks
Senior regulatory officials are considering the timing of the announcement of the list of debt-saddled savings banks, which will face business suspension.In particular, the officials seem extremely cautious over choosing the date as the Financial Services Commission and the Financial Supervisory Ser
Sept. 16, 2011
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Criticism rages over power cuts
Government vows to cap peak demand, boost reservesMillions of residents and industrial workers remain outraged on Friday even after the government apologized for massive power cuts that blasted the country on Thursday, vowing not to repeat the mistake.An unseasonable heat wave forced the Korea
IndustrySept. 16, 2011
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Smokers don't make better lovers: study
TechnologySept. 16, 2011
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European luxury brands see sales hike after FTA
European fashion brands are enjoying increased demand here after a free trade pact between Korea and the EU took effect on July 1, industry sources said Friday.French brand Louis Vuitton logged 91.2 billion won ($82.6 million) between July 1 and Sept. 14, up 16.9 percent from 78 billion won a year e
IndustrySept. 16, 2011
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WHO issues chronic disease country scorecards
(AP) World Health Organization published a report Wednesday showing the prevalence of chronic diseases such as cancer, diabetes and cardiovascular illness around the world, along with countries‘ abilities to cope with the growing number of people affected by them.The U.N. health agency said so-calle
TechnologySept. 16, 2011
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Feathers in amber reveal dinosaur diversity
WASHINGTON (AP) — In science fiction, amber preserved the DNA that allowed rebirth of dinosaurs in Jurassic Park. In real life, amber preserved feathers that provide a new image of what dinosaurs looked like."Now, instead of scaly animals portrayed as usually drab creatures, we have solid evid
TechnologySept. 16, 2011
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Rogue trader causes $2 billion loss at UBS
GENEVA (AP) — Swiss banking giant UBS said Thursday that a rogue trader has caused it an estimated loss of $2 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorized trades. Police in London said they arrested a 31-year-old man in connection with the loss.Sw
Sept. 15, 2011
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KEPCO under fire for power failure
State-run Korea Electric Power Corp. is facing mounting criticism as it passed the buck to the Korea Power Exchange on taking responsibility for the unprecedented nationwide power outages Thursday afternoon.Residents and workers around the country suffered sudden power outages starting at around 3 p
Sept. 15, 2011
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Independent gas stations to adopt common brand
Independent gas stations could start operating under a common brand as early as next year, the association of independent gas stations said Thursday.Independent gas stations can sell fuel produced by any of the country’s refiners, as opposed to being tied to a refiner such as GS Caltex or S-Oil.As s
IndustrySept. 15, 2011
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Starbucks hopes instant coffee will cement dominance
Starbucks still is a major player in the Korean market even though local coffee houses are growing rapidly, its Asia Pacific chief Jinlong Wang said Thursday. “We don’t mind if (our competitors) can do better. But we will always offer something unique and different,” he told The Korea Herald. Such c
IndustrySept. 15, 2011
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POSCO signs deal on business in Colombia
POSCO is poised to exploit Colombia’s iron ore and coal deposits as it ratchets up efforts to ensure steady supplies of raw materials and lay a firm footing in the fast-expanding Latin American market.The country’s top steelmaker clinched a deal on Thursday in Seoul to set up a joint venture with Bl
IndustrySept. 15, 2011
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Conglomerates scrambling to secure cash
Korea’s conglomerates are scrambling to secure capital at a pace that suggests a credit crunch might be in the offing amid growing concerns over the global economy. The country’s large companies have raised about 60 trillion won ($54.6 billion) this year by issuing corporate bonds, drawing loans fro
Sept. 15, 2011
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Korea alert to possible impact of Europe crisis
Senior official conducts virtual intervention in won-dollar marketPolicymakers have stepped up again to minimize negative effects on the local financial markets amid the eurozone debt crisis, following their efforts in early August.Their key countermeasures included curbing steep depreciation of the
Sept. 15, 2011
