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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S. Korea not to attend Sado mine memorial: foreign ministry
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Job creation lowest on record among under-30s
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POSCO wins corporate governance award
POSCO, the world’s fourth-largest steelmaker, has been named the company with the best corporate governance structure in Korea.According to the steelmaker, it was so named by the Corporate Governance Service and the Korea Exchange on Friday.The company added that its filling of the audit committee with outside directors and other activities giving enhanced independence to auditors also contributed
IndustryJune 24, 2011
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Korea to release oil from reserves
The government will release almost 3.5 million barrels from its oil reserves in an effort to control international and domestic oil prices, the Ministry of Knowledge Economy announced Friday.According to the ministry, the government will release 3.467 million barrels in compliance with the International Energy Agency’s Initial Contingency Response Plan.Korea’s oil reserves, held by the government
June 24, 2011
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KT told not to dump 2G phone users
The Korea Communications Commission turned down Friday KT Corp.’s proposal to end services for feature phone users by the end of this month.The state telecom regulator said it would defer giving the green light to KT’s scheme which would force what KCC cited as its remaining 810,000 2G mobile phone users to adopt 3G smartphones by the first half of this year.“Let’s put it off the discussion agenda
IndustryJune 24, 2011
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SK telink barred from MVNO market
Subsidiary firms of Korea’s mobile carriers are expected to meet resistance in joining the market for mobile virtual network operators as the state watchdog appears wary of letting them do so.In its general meeting on Friday, the Korea Communications Commission agreed to recommend that SK telink, a subsidiary of market leader SK Telecom, hold back from entering the MVNO market.SK telink, a firm in
IndustryJune 24, 2011
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Minister vows to deregulate further to support companies
Finance Minister Bahk Jae-wan said Friday that the private sector needs to take a bigger role in the economy, vowing to create a business-friendly environment. In his first meeting with heads of the nation’s five major business lobby groups, Bahk attributed the economy’s fast recovery from the financial crisis to “jobs created, overseas investments made and taxes paid” by the private sector busine
June 24, 2011
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EUCCK calls for non-tariff barrier removal
The European Union Chamber of Commerce in Korea is turning up the heat on the Korean government to reduce non-tariff barriers and modify regulations to align them with international standards.On Friday, a week ahead of the tentative implementation of the Korea-EU free trade agreement, the EUCCK published a report outlining non-tariff issues regarding access to the Korean market in 20 categories. S
IndustryJune 24, 2011
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S. Korea likely to approve world's 1st stem cell therapeutic drug
SEOUL, June 24 (Yonhap) -- South Korea's drug safety agency will likely approve a stem cell therapeutic drug this month in what could be the world's first move to permit the sale of a stem-cell medicine, officials said Friday.The Korea Food and Drug Administration (KFDA) is expected to finalize all procedures needed to permit the sale of "Hearticellgram-AMI," a stem cell therapy for acute myocardi
TechnologyJune 24, 2011
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Japan makes fastest ever computer
Marking a leap forward in computing technology, Japan has created the world’s fastest super computer, called “The K supercomputer,” according to the Daily Mail. It is as fast as 1 million desktop PCs put together, performing eight quadrillion calculations per second. It is the first time in seven years that Japan has held the title of having the world’s fastest machine. The previous title-holder w
TechnologyJune 24, 2011
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9 out of 10 workers experience ‘mind leaving syndrome’: survey
(MCT)“Mind leaving syndrome” describes the urge to flee, for anywhere, leaving everything behind including job and family.In research conducted by Saramin, a local online recruitment website, about 87.8 percent respondents experienced the syndrome.Women showed a higher percentage reaching 94.1 percent, while men recorded 80.2 percent.They said the major reasons were “chronic fatigue and health,” f
June 24, 2011
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Study links potatoes, among other foods, to weight gain
(MCT)LOS ANGELES — Public Enemy No. 1 in America's battle of the bulge isn't cupcakes, soda or double bacon cheeseburgers. It's the simple potato, according to Harvard University researchers.Daily consumption of an extra serving of spuds — french fried, sliced into crispy chips, mashed with butter and garlic, or simply boiled or baked — was found to cause more weight gain than downing an additiona
TechnologyJune 24, 2011
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S. Korean consumer sentiment dips in June
SEOUL, (Yonhap) -- South Korea's consumer confidence declined in June from the previous month on concerns that rising inflation and growing household debt could crimp consumer spending, the central bank said Friday.The consumer sentiment index (CSI) -- a gauge of consumers' overall economic outlook, living conditions and future spending -- stood at 102 for June, down from 104 for May, the Bank of
June 24, 2011
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Politicians, tycoons in feud over testimony
Friction between politicians and the business community is escalating, fueled by the National Assembly’s plans to call Federation of Korean Industries chairman Huh Chang-soo and other top businessmen to its hearings.At a press conference Tuesday, Huh said that he was opposed to the plans to remove tax benefits for businesses. He criticized policies such as halving university tuition fees as impuls
IndustryJune 23, 2011
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Korea to foster local growth engine sectors
The government said Thursday it plans to boost support for growth industries in the country’s provincial metropolitan areas by injecting 285 billion won ($265 million) this year.The program is the latest in a string of projects that the Ministry of Knowledge Economy has pushed since 2009 to develop regional technology hubs.Under the plan, the ministry will fund nearly 20 billion won this year for
IndustryJune 23, 2011
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Ministry, refineries differ on how to end temporary oil price cut
The government is seeking to alleviate the fallout of local oil refiners’ move to raise product prices that were temporarily lowered to help stem inflationary pressure, sources said Thursday.The Ministry of Knowledge Economy recently held talks with local oil companies and called for a “soft landing” approach when they move to mark up gasoline and diesel fuel after July 6, they said.In April, SK I
June 23, 2011
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HTC unveils first 4G phone, tablet
HTC on Thursday unveiled its EVO 4G smartphone and Flyer 4G tablet, the first fourth-generation smart devices to hit the nation. Starting July 1, the Taiwan-based smartphone maker will be distributing the phones via KT Corp. Prices have yet to be set. Both the phone and the tablet will be capable of transmitting data at up to three times as fast as current smartphones, HTC said. HTC unveils its EV
IndustryJune 23, 2011
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Ministry plans heavier speeding fines
The Ministry of Land, Transport and Maritime Affairs unveiled a draft package of traffic safety measures at a public hearing in Seoul on Thursday, which consists of increased speeding fines, brighter crosswalks and tougher penalties for drunk driving. Though the number of deaths from road accidents in Korea has declined by nearly half over the last decade to about 5,500 in 2010, the figure per 10,
June 23, 2011
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Business leaders call for lower taxes
Local chambers of commerce join to press government to stick to tax policyRepresentatives of one of the nation’s top private economic organizations on Thursday called for the government and politicians to stay committed to tax reduction to help the corporate sector. “Tax reduction is necessary to enhance corporate competitiveness and attract foreign capital,” the heads of the country’s 71 regional
IndustryJune 23, 2011
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Global chip market forecast to grow 7.2%
The worldwide semiconductor market is forecast to expand 7.2 percent in 2011 from last year, driven by robust demand for smartphones and tablet PCs, a market researcher said Thursday.Revising up its earlier forecast, IHS iSuppli estimated that global semiconductor revenues will reach $325.9 billion this year, compared with $304.1 billion in 2010. It previously estimated 7 percent annual growth.The
IndustryJune 23, 2011
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Watchdog vows to curb household debt
Korea’s financial watchdog plans to curb excessive growth of household debt by tightening banks’ loan-to-deposit ratios and requiring non-bank institutions to raise loan-loss reserves, its head said Thursday.Korea is grappling with snowballing household debt as heavy indebtedness is feared to crimp economic growth by putting restraints consumer spending. The government plans to unveil a set of mea
June 23, 2011
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Eximbank should focus on overseas projects: minister
Korea Eximbank should focus on long-term projects of a global scale as the key export credit agency of the country, Finance Minister Bahk Jae-wan said Thursday. Speaking at a forum organized by the state-run bank, Bahk said, “The Bank should reduce short-term products such as trade financing, which can be mainly provided by the private sector, but increase mid- to long-term financing for large-sca
June 23, 2011
