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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Apple, Samsung overtake Nokia in smartphone market
HONG KONG, July 29, 2011 (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
IndustryJuly 29, 2011
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SK Broadband ordered to compensate 400 mln won for information leak
SEOUL, July 29 (Yonhap) -- A Seoul court on Friday ordered SK Broadband Co., a high-speed Internet service provider, to pay a combined 400 million won (US$379,686) in compensation to its customers whose personal information was leaked by the company.About 2,500 SK Broadband customers filed class-action suits between 2008 and 2010, claiming the Internet service firm, formerly called Hanaro Telecom,
IndustryJuly 29, 2011
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KB Q2 earnings swing back to net profit
KB Financial Group posted a net profit of 817 billion won ($776.9 million) for the second quarter, swinging back into the black after posting a 217 billion won loss in the same period last year. The group attributed the boost to lower loan-loss reserves and provisional cost cuts of more than one-third from a year ago.“The group has been reducing the allowance for bad debts for the past six months
July 29, 2011
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Samsung Electronics’ Q2 sales up 4%
Samsung Electronics, the world top television and memory chip maker, posted its operating profit for the second quarter of 3.75 trillion won ($3.55 billion), down 25.2 percent from the same period last year.The company also announced it recorded 39.44 trillion won in revenue ― a 4-percent increase year-on-year ― and 3.51 trillion won in net income from April-June, down 18 percent compared to last
IndustryJuly 29, 2011
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Firms roll up sleeves to help victims of devastating rains
Korea’s business community is coming forward to help those affected by the heavy rains that wreaked havoc across the country this week.On Friday, some of the country’s largest conglomerates said they would provide money, goods and repair services for those affected by the rains. Chung Eui-sun (left), vice chairman of Hyundai Motor Group, poses with Han Joong-gwang, chairman of Korea Disaster Relie
IndustryJuly 29, 2011
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Industrial output slows in June
June industrial production posted slower than expected growth of 0.7 percent, a government report said Friday.Output in the construction, service, mining and manufacturing sectors expanded by 6.4 percent from a year ago, down from a revised 8.1 percent growth forecast in March, Statistics Korea said. The 0.7 percent on-month expansion is the slowest output growth in nine months, and a slow down fr
July 29, 2011
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Netizens blast SK unit over leaked personal information
Thousands are voicing their anger with SK Communications online after it was found that personal information of 35 million online users had been hacked this week, an event that marked the country’s worst security breach.More than 3,200 people registered to voice their opinions in an online community (http://cafe.naver.com/hacknate) designed to take collective action against the company which opera
IndustryJuly 29, 2011
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U.S. jobless claims, housing data offer economic hope
IndustryJuly 29, 2011
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Republicans put off vote on debt limit
Legislation to raise ceiling and cut $1tr on hold as votes fail to materializeWASHINGTON (AP) ― An intensive endgame at hand, Republican leaders abruptly postponed a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.“The votes obviously were not there,” conceded Rep. David Dreier, R-California, after Speaker John Boehner an
IndustryJuly 29, 2011
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Samsung's Lee stresses software, talent, patents
SEOUL, July 29 (Yonhap) -- Lee Kun-hee, chairman of Samsung Electronics Co., emphasized the importance of software technologies, a talented workforce and patents in a speech to Samsung's executives, the electronics giant said Friday. His remarks came after the consumer electronics giant reported a slump in its second-quarter profit as consumer spending in the advanced economies is weighed down by
IndustryJuly 29, 2011
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Fat is more dangerous for South Asians
WASHINGTON (AFP) -- Weight gain can be more dangerous for South Asians than for Caucasians because the fat clings to organs like the liver instead of the skin, said a study published Thursday.The main difference between Caucasians and South Asians comes down to how much space there is to store fat in the body and where it holes up, said Sonia Anand, lead author of the study in the public access jo
TechnologyJuly 29, 2011
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Smartphone users check their device 34 times a day
Smartphone users check their IT gadgets 34 times a day or once every 10 minutes on average, CNN reported. A man uses an Apple Inc. iPhone in New York, U.S. (Bloomberg)Quoting a study published in an IT journal, CNN said that the users tend to repetitively check e-mails and other applications not because they needed to check them but because it had become a habit. The checking habit emerges and is
TechnologyJuly 29, 2011
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Are hot dogs as bad as cigarettes?
Eating hot dogs may be as hazardous to one’s health as smoking cigarettes, according to civil activists in the United States.Sonya "The Black Widow" Thomas, center right, wins the first Nathan's Famous Women's Hot Dog Eating World Championship after consuming 40 hot dogs and buns, Monday, July 4, 2011, Monday, July 4, 2011, at Coney Island, in the Brooklyn borough of New York. (AP-Yonhap News)The
TechnologyJuly 29, 2011
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Samsung Electronics logs 18 pct drop in Q2 net
Samsung Electronics Co., the world's top memory chipmaker, said Friday that its second-quarter earnings declined 18 percent from a year ago as feeble demand for TVs and personal computers drove down chip and display prices. Net profit reached 3.51 trillion won ($3.33 billion) in the April-June period, compared with 4.28 trillion won a year earlier, it said in a regulatory filing.The bottom line wa
IndustryJuly 29, 2011
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Asiana cargo flight crashes off Jeju coast
An Asiana Airlines cargo flight bound for Shanghai Pudong International Airport crashed off the coast of Jeju early Thursday while diverting to the island due to a fire in the cargo hold.“The cargo plane said in its last communication with the control center in Shanghai that there was a fire in the cargo hold,” Kim Han-young, Director General of Ministry of Land, Transport and Maritime Affairs’ Of
IndustryJuly 28, 2011
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Samsung Electronics under tax probe
National Tax Service launches regular investigation on Samsung flagshipSamsung Electronics, which had been putting off a regular tax investigation for almost half a year, is now in the midst of the probe launched by the local tax authorities. About 30 officials of the National Tax Service were dispatched to Samsung Group’s flagship unit earlier this week, according to government and industry sourc
IndustryJuly 28, 2011
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LG Innotek sues Osram in Chinese court
LG Innotek on Thursday said it has filed a lawsuit against Osram’s Chinese corporation and another company called Hella for infringing patent rights for light-emitting diode technology.LG Innotek filed the suit at a court in Beijing, demanding Osram cease selling its LED products and also seeking compensation for damages.Osram is a light-manufacturing unit of Siemens AG, while Hella is a global ma
IndustryJuly 28, 2011
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Auto insurers face claims from rain damage
Auto insurers face a sharp increase in claims from rain damage that has caused at least 41 deaths in the capital area since Tuesday.More than 400 millimeters of precipitation was recorded in Seoul between Tuesday and Wednesday, causing a landslide at Mount Woomyeon and at least 16 deaths in the city’s south.Car insurers are expected to see a major decline in profits for the month as they were alre
July 28, 2011
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Chaebol slow to promote reform of ownership
Heads of family-run conglomerates continue to control empires with little stakesOwners of Korea’s leading family-run conglomerates, or chaebol, are still opting to employ circular intra-group shareholding practices to run a large number of affiliates with little or no stake ownership, the state-run antitrust regulator said Thursday.According to the Fair Trade Commission, each chairperson of the c
IndustryJuly 28, 2011
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Equus tops U.S. customer satisfaction ratings
South Korea’s top automaker Hyundai Motor Co. said Thursday that its large passenger car Equus has received the highest marks in a U.S. customer satisfaction survey, outshining BMW, Audi and Mercedes-Benz.The luxury sedan received 904 points out of a maximum 1,000 in the Associates Automotive Performance Execution and Layout survey by J.D. Power and Associates on new car owners from February throu
IndustryJuly 28, 2011
