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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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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Opposition leader awaits perjury trial ruling
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Electronic microchips added to hotel towels to ban snatching
Electronic microchips added to hotel towels to ban snatchingAn American linen company has introduced new towels and robes equipped with electronic chips for hotels in order to prevent guests from taking them home.Linen Tracking Technology, a firm based in Miami, launched the new products attached with Radio Frequency Identification (RFID) tags under association with Fluensee, another technology fi
TechnologyAug. 1, 2011
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S. Korea's consumer prices jump 4.7 percent in July
South Korea's consumer prices jumped at a faster pace in July, raising concerns that inflationary pressure is building up despite the government's anti-inflation efforts, a report showed Monday.According to the report by Statistics Korea, the country's consumer price index rose 4.7 percent last mont
Aug. 1, 2011
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Korean won’s steep rise feared to hurt exporters
The Korean government is set to face an uphill battle in keeping the Korean won from appreciating at a rapid clip as the U.S. debt crisis is sending ripples throughout financial markets across the world.“The local currency could gain to the 1,000 won level against the greenback by the end of the year,” said Huh In, an international finance analyst at the state-run Korea Institute for International
July 31, 2011
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Change expected at Samsung to beat Apple, other rivals
Samsung is not a company used to being No. 2 in anything it does, but it appears to be falling behind in preparing for changing business surroundings. At least, this is the case according to Samsung owner Lee Kun-hee who last week publicly castigated his company ― albeit indirectly ― by saying Samsung needs to get going in terms of attaining “soft (ware) power, first-caliber human resources and pa
IndustryJuly 31, 2011
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Yeosu Expo courts more than 45,000 volunteers
Public participation in the upcoming expo in Yeosu is picking up steam as more than 45,000 have applied to volunteer, its steering committee said Sunday.The committee said it had accepted applications between April 1 and July 10 for volunteer work at the event, which will kick off May 12 in Korea’s southern port. Only 13,000 will be selected in April after document examinations, interviews and onl
IndustryJuly 31, 2011
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Choco-Pie building ‘Pie Road’
This is the first installment in a series that spotlights Korean products enjoyed by people abroad. ― Ed. Choco-Pie, the flagship brand of local snack maker Orion Corp., is often called a “little giant” here.It is a small round chocolate pie with a marshmallow center, which is 7 centimeters in diameter and weighs about 35 grams.Since 1974, the Choco-Pie has been enjoyed by every age group of Korea
IndustryJuly 31, 2011
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Joint venture lifts Korea’s Bolivian lithium bid
A Korean consortium forged an agreement with Bolivia’s state-run miner Comibol on Saturday to set up a joint venture to manufacture lithium-ion battery parts, boosting Korea’s bid to preemptively tap the vast Latin American mineral deposits.Under the deal, the Korea Resources Corp., POSCO and Comibol will form a task force next month or so to discuss details, a KORES official said. The scale of in
IndustryJuly 31, 2011
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Growth takes a backseat before presidential vote: Morgan Stanley
With the presidential election slated for December 2012, the Korean administration is likely to focus on firmer fiscal policy and welfare promotions rather than growth-oriented measures in a bid to appease the low-to-mid-income group, Morgan Stanley said. In a new research report titled “2012 Election Year: Market Implications,” Morgan Stanley forecast that the Korean government will not go for an
July 31, 2011
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Korea to host insurance regulators’ meeting
FSS predicts about 200 officials to gather in Seoul in late SeptemberKorea’s financial authorities are making their dispositions as the chair of one of the world’s three major regulatory meetings, slated for Sept. 29-Oct. 1 in Seoul. This is the first time that the nation will host the annual conference of the International Association of Insurance Supervisors, which will mark the 18th gathering s
July 31, 2011
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Nissan to battle German carmakers in Korea
Japanese automaker introduces new models to attract consumersNissan is set to wage a sales battles with German automakers in Korea by aggressively marketing its Infiniti series and the Cube, a characteristic box-like model.The second-largest automaker in Japan has set the goal of making the Infiniti series become one of the top three import brands in the premium luxury segment.“We are mapping out
MobilityJuly 31, 2011
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Mahindra sees India’s 1st cult brand aided by Ssangyong
The Actyon of Ssangyong Motor Co.At Ssangyong Motor Co., South Korea’s third-largest maker of sport utility vehicles, just about everything that could go wrong did in the past two decades. The company switched owners four times, faced bankruptcy and suffered one of the most violent strikes in modern Korean history in 2009. Workers in that clash took control of a plant for almost three months, usin
MobilityJuly 31, 2011
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HSBC to cut more than 10,000 jobs
LONDON (AFP) ― Global banking giant HSBC will announce this week plans to axe between 10,000 and 15,000 jobs in the coming year as part of a drastic cost-cutting drive, a report said Saturday.The bank, headquartered in London but with a major focus on Asia, will unveil the job cuts on Monday as it posts its half-year results, Britain’s Sky News television reported, without citing its sources. The
IndustryJuly 31, 2011
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Israelis protest high cost of living
JERUSALEM (AP) ― Tens of thousands of Israelis took to the streets nationwide on Saturday to protest rising housing prices in the largest turnout in a grass-roots movement that began two weeks ago and is demanding steps from the government to ease the burden.The protests over housing costs have tapped into wider discontent among Israelis over the high cost of living and the growing gaps between ri
IndustryJuly 31, 2011
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GM, Ford, Toyota accept Obama’s efficiency standard
Automakers agreed to double the fuel economy of the vehicles they sell in the U.S. to a fleetwide average of 54.5 miles per gallon by 2025, President Barack Obama said. The White House negotiated the proposal, which will take effect in 2017, with automakers including General Motors Co., Ford Motor Co. and Toyota Motor Corp. The administration proposed a 56.2 mpg requirement last month, up from a f
IndustryJuly 31, 2011
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Moody’s says U.S. should retain top rating
Moody’s says it now thinks U.S. will be able to keep ‘AAA’ ratingWASHINGTON (AP) ― Moody’s Investors Service said late Friday that the United States should be able to keep its “AAA” credit rating as long as Washington works out a deal that lets it continue to pay bondholders.The credit rating agency said it thinks that even if the nation’s $14.3 trillion borrowing limit isn’t raised by Tuesday’s d
IndustryJuly 31, 2011
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Kang named Hanwha Investment CEO
Kang Shin-woo, chief investment officer of Korea Investment Management, has been designated as the first CEO of the merged entity between Hanwha Investment Trust Manager and Prudential Asset Management.With the appointment of the 50-year-old fund manager, Hanwha Investment is poised to revamp its management structure and has set the goal of becoming the nation’s No. 1 asset management player. Kang
July 31, 2011
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Researchers say humans crowded out Neanderthals
WASHINGTON (AP) — Were the Neanderthals simply crowded out by the ancestors of modern humans?That's the theory of a pair of British researchers, who say early modern humans outnumbered Neanderthals by 10-to-1 in a region of southwestern France they studied.Scientists have long debated the circumstances in which modern people replaced Neanderthals across Europe about 40,000 years ago. Leading resea
TechnologyJuly 31, 2011
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Earth shares its orbit with tiny asteroid
NEW YORK (AP) -- Like a poodle on a leash, a tiny asteroid runs ahead of Earth on the planet's yearlong strolls around the sun, scientists report.The discovery of this companion, which measures only about 300 meters across, makes Earth the fourth planet in the solar system that's known to share its orbit with an asteroid. This handout image released on July 27, 2011 illustrates the orbit of 2010 T
TechnologyJuly 31, 2011
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Apple, Samsung overtake Nokia in smartphone market
HONG KONG (AFP) - Apple and Samsung have overtaken long-time leader Nokia for the top two spots in the global smartphone market, a report said Friday, underscoring the Finnish handset maker's ongoing struggles.US-based research firm Strategy Analytics said the US and Korean smartphone makers outpaced Nokia in the second quarter, with the sector posting record quarterly shipments of 110 million uni
TechnologyJuly 31, 2011
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Missing pilot took out huge insurance policies before crash
Asiana Airlines Co. remained tight-lipped as it was revealed on Saturday that one of the two still-missing pilots of its crashed cargo plane had taken out a number of different life and property insurance policies a month before the accident.The Boeing-747 aircraft, operated by South Korea's second-largest air carrier, crashed into waters about 107 kilometers west of the southern resort island of
IndustryJuly 31, 2011
