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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Banks’ foreign exchange deposits rise in first half
Korean banks’ foreign currency deposits rose in the first half on solid exports and prospects that the local currency’s sharp ascent may ease soon, industry data showed Wednesday.Foreign currency-denominated deposits at five major banks amounted to $14.56 billion as of end-June, up $2.27 billion from the end of last year, according to industry data.The rise came even as the local currency apprecia
July 20, 2011
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GS Group chief stresses innovation
GS Group chairman Huh Chang-soo called on group executives to go beyond developing new products and services as the group aims to become an “ultra first-rate” corporation. Huh Chang-sooSpeaking at the executives meeting for the third quarter on Wednesday, Huh also said that corporations need to go beyond developing new products and services if they are to address current issues.“The aim of managem
IndustryJuly 20, 2011
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LG Innotek touted for mutual growth efforts
LG Innotek, the LG Group’s component-making affiliate, received the highest score in its cooperative business partnership with smaller businesses, the state-run antitrust regulator said Wednesday.The Fair Trade Commission conducted an evaluation of 21 major conglomerates that have signed a “shared-growth agreement” between March and June. A total of 93 major businesses here have agreed to the volu
IndustryJuly 20, 2011
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LGE making ripples with water treatment drive
Global electronics maker building reputation to attain industry leadershipLG Electronics is increasing the drive to ratchet up its market share in the water treatment industry, a move considered to be both timely and lucrative due to the mounting concerns for water shortage amid a global initiative to promote eco-friendly growth. “Climate change and environmental pollution are expected to continue
IndustryJuly 20, 2011
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Overseas projects fuel KEPCO’s growth
Power plants, resource development complement KEPCO’s business modelKorea Electric Power Corp.’s rapidly expanding overseas portfolio is fueling the company’s growth and its drive to become one of the top five players in the world’s power industry.Earlier this year, the company announced a set of long-term plans under which it aims to raise its annual sales to 85 trillion won ($80.5 billion) by 20
IndustryJuly 20, 2011
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Iran warns it may halt crude supplies to India
TEHRAN (AFP) ― Iran on Tuesday issued a new warning that it will halt supplies of crude to India unless the issue of billions of dollars in overdue payments is resolved.“If the Iranian side feels it cannot receive the money for its exported oil punctually and under desirable conditions, it will reconsider” its crude exports to India, foreign ministry spokesman Ramin Mehmanparast told his weekly pr
IndustryJuly 20, 2011
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PCs start to look like tablets
iPad’s advantages make it a threat to entire computer marketNEW YORK (AP) ― The response by computer makers to the iPad stealing sales from them: Make their PCs more like iPads.The “if you can’t beat ‘em, join ‘em” strategy is prompting a wave of experimentation with the design of the laptop, which has been largely unchanged for two decades. Touch-sensitive screens and the use of Google’s Android
IndustryJuly 20, 2011
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Too much screen time? Experts might say you’re facing technology addiction
DALLAS ― Michael Decker is always reachable. The 42-year-old creative director from Dallas sleeps with his phone nearby on his nightstand. From when he wakes up and checks it until he sets it down before bed, his phone is constantly with him.“It’s an intrusion into your own private life,” he says. “It leads to burnout if you can never turn it off.”Decker, who owns an iPhone, a laptop and an iPad,
TechnologyJuly 20, 2011
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Sound savings banks allowed to offer consumer finance
South Korea plans to permit healthy savings banks to engage in consumer finance in a bid to help them secure stable sources of income, the financial watchdog said Wednesday.The Financial Services Commission (FSC) said consumer finance loans will be allowed for savings banks with more than 10 percent capital adequacy ratio and less than 8 percent sub-standard loan ratio. Consumer finance refers to
July 20, 2011
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Busan Savings Bank draws fresh suspicion for shady land deals
A ruling party lawmaker on Wednesday disclosed fresh allegations of embezzlement involving Busan Savings Bank, insisting that the corruption-ridden lender bought real estate along the southwest coast for inflated prices that were up to 10 times more expensive than the market value.Rep. Ko Sung-doug of the Grand National Party (GNP) said the Busan-based institution, which was suspended in February
July 20, 2011
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Modern baby lives 20 years longer than those before WWII
Compared to the generation born before World War II, modern toddlers reportedly have a life expectancy of 20 years longer, according to a report by the Daily Mail. A nurse inspects a newborn baby at a nursery in a hospital in Taipei. (AFP-Yonhap News)Due to remarkable economic development and medical science, as well as healthier lifestyles and working conditions, average life expectancy is up to
TechnologyJuly 20, 2011
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Sleep deprivation drives us mad
A new study revealed that people who don’t get enough sleep are more likely to blame others depending on the outcome as lack of sleep leads to skeptical and negative judgments, MSNBC reported. (MCT)Associate professor of psychology at the University of Arkansas, David Mastin presented the abstract of his research which linked sleepiness to alteration in people’s thoughts, at SLEEP 2011, the 25th a
TechnologyJuly 20, 2011
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Apple directors talked CEO job with recruiters: report
IndustryJuly 20, 2011
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Samsung betting big on Galaxy Tab 10.1
Samsung Electronics appeared to be full of confidence as it launched its second-generation tablet PC, the Galaxy Tab 10.1, in Korea on Wednesday at the company’s headquarters in southern Seoul. (Samsung Electronics Co.)Shin Jong-kyun, chief of the global electronics company’s mobile business unit, pledged to sell more than five times more tablets than last year, despite the first Galaxy Tab not ha
TechnologyJuly 20, 2011
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S. Korea unveils new light airplane
South Korea introduced its first indigenous private aircraft Wednesday in a ceremony also marking the first flight of the light passenger plane, named "Naraon."The plane was unveiled by Korea Aerospace Industries Ltd. (KAI) in Sacheon, 437 kilometers southeast of Seoul. It is the first non-military aircraft developed and built by South Korea, according to the Ministry of Land, Transport and Mariti
IndustryJuly 20, 2011
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White House unsure about ratification of Korea FTA this summer
Stepping back from a confident tone a week earlier, a top White House official said Tuesday that it might not be possible to win congressional approval for pending trade pacts this summer.President Barack Obama's chief of staff, Bill Daley, said the administration remains committed to a plan to send free trade agreements (FTAs) with South Korea, Colombia and Panama to Congress for votes "very soon
July 20, 2011
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Banks face restriction in bond buying
The Bank of Korea said Tuesday it would narrow the scope of foreign exchange banks’ bond purchasing as part of its efforts to minimize side effects.As many local and foreign banks have actively invested in foreign currency-denominated bonds, the nation has undergone steep growth in foreign currency debts and the Korean won’s appreciation.Banks will be banned from investing in foreign currency-deno
July 19, 2011
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LG CNS picked as provider of system to integrate Colombian transport network
Korea’s cutting-edge transportation IT infrastructure will be introduced in Colombia as LG CNS, Korea’s tech firm, won the $300 million project to set up an intelligent transport system in Bogota, the company said on Tuesday.Bogota, Colombia’s capital, is one of the three biggest cities in Central and South America. Under the deal, LG CNS will establish systems for bus management, as well as issua
IndustryJuly 19, 2011
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Louis Vuitton to pull out of Lotte duty free shop in COEX
Louis Vuitton has decided to close a store at Lotte Duty Free Shop in COEX, citing recent slowing sales there. According to industry sources on Tuesday, the French brand will not renew its contract with Lotte, set to expire in December, and will withdraw the store.“We have informed Lotte about the withdrawal because of poor sales,” a Louis Vuitton official said in an interview. A pedestrian looks
IndustryJuly 19, 2011
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Korean robotics industry bursting into bloom
Market for robots nearly doubles to 1.93tr won in 2010Korea’s robotics industry is making rapid headway as local developers chalked up record growth in output, sales and exports last year on the back of surging investment in factories, a government study showed Tuesday.According to the survey by the Korea Association of Robot Industry of 395 firms, their combined sales nearly doubled to 1.93 trill
IndustryJuly 19, 2011
