[News focus] Seoul faced with calls to slash oil taxes

Government twists refiners’ arms but under fire for failing to share responsibilityThe heat is increasingly being turned on the government for failing to curb the soaring gas prices, especially as critics are pounding Seoul for failing to address a more direct cause of the price increase ― the high taxes slapped onto gas. Instead, the government has turned to twisting the arms of local refiners to

April 8, 2011

N-Screen service becomes popular in one-person-multi-device era

Getting connected to the Web on a smartphone, while simultaneously watching a show on a smart TV is becoming a common scene for many people nowadays as the country enters a “one-person-multi-device era.”The number of people who own multiple smart gadgets ― such as smartphones, tablet PCs and smart TVs ― is rapidly increasing, pushing telecoms to introduce N-Screen (numerous screen) services which

IndustryApril 8, 2011

Shinsegae heir ready to tie the knot again?

Rumors fly over Shinsegae heir marriage plansBy Kim Ji-hyunChung Yong-jin, 42, vice chairman of Shinsegae Group, may be ready to tie the knot -- again -- this time with flutist Han Ji-hee, according to inside sources.Sources said that Han, 30, and Chung are making preparations for a wedding ceremony next month. Chung’s fiancee teaches at Sungshin Women’s University and has studied in Austria, Fran

IndustryApril 8, 2011

Knowing the facts on antibiotics

More than half of Koreans still believe penicillin can treat coldsThere was a time when antibiotics were used as “magic drugs” to cure any illness or disorder. From treatments for small inflammations to coughing, people wanted antibiotics.But antimicrobials are often associated with various side effects and invite resistance ― some diseases such as multidrug-resistant tuberculosis are now untreata

TechnologyApril 7, 2011

Samsung Electronics’ Q1 hit by LCD prices, tablet sales

The first quarter operating profit of Samsung Electronics, the world’s largest maker of TVs and flat-screen monitors, stood at 2.9 trillion won ($2.66 billion) to mark its smallest quarterly revenue in seven quarters after falling 34 percent from a year earlier, the company said on Thursday.Sales were at 37 trillion won, up 6.8 percent year-on-year, according to Samsung during an earnings guidance

IndustryApril 7, 2011

Top regulator pledges to increase inspectors

Financial Supervisory Service Gov. Kwon Hyouk-se reiterated Thursday that he would increase the manpower directing probes of financial companies by reshuffling the regulatory body.Kwon, who took office as the chief financial regulator a week ago, told reporters that he would prioritize increasing the ratio of inspectors among FSS staffers in coming months.He cited the slashed ratio of inspectors ―

April 7, 2011

Korea to contain price hikes of farm products

The government said Thursday that it plans to tackle the recent spike in the price of farm and fisheries products that has contributed to rising inflationary pressure.The announcement by the Ministry for Food, Agriculture, Forestry and Fisheries came after soaring costs for food helped send growth in consumer prices to a 29-month on-year high of 4.7 percent in March. Of total gains, prices for far

April 7, 2011

SC to continue to invest in Korea

Standard Chartered First Bank pays first dividendBritish banking giant Standard Chartered Plc will continue to invest in Korea, its head said Thursday, dismissing speculation that planned closures of some of its branches here may indicate retreats in its investment.“Our business here in Korea is the core part of growth,” Peter Sands, chief executive officer of Standard Chartered, said at a press c

April 7, 2011

[Herald Interview] Nestle hopes for more ties with Korean suppliers

Nestle S.A., the world’s largest food company, is seeking to boost its beverage and coffee machinery purchase from innovative Korean manufacturers, one of the firm’s high-ranking officials said Thursday. The firm saw the biggest potential of local companies in its leading technologies and dynamics, said Ruguo Hu, head of equipment & system of Nestle R&D Centre Shanghai. The Shanghai R&D center is

IndustryApril 7, 2011

KNOC spurs overseas resources development

State-run oil firm also seeks to diversify business to crude alternatives State-run Korea National Oil Corp. is stepping up overseas development projects and expanding its portfolio into alternative resources in bid to boost the country’s energy security. Korea, the world’s fifth-largest importer of crude oil, has been vulnerable to global oil price volatility and uncertainties in the market, espe

IndustryApril 7, 2011

Thyroid gone awry: Grave’s disease

Jerry is a 39-year-old air force pilot whose exceptional agility and speed in maneuvering fighter planes earned him the nickname “Smokin’ Jeeves.” Over the last three months, however, Jerry noticed it was increasingly difficult to achieve the same degree of high performance during his routine physical training exercises. More recently, he felt as though “his heart was beating out of his chest” aft

TechnologyApril 7, 2011

Severance hospital treats patients with skill, experience

This is the second in a series of articles on international clinics at major medical centers in Seoul. ― Ed.Severance Hospital’s international health care center is the oldest medical facility dedicated to foreign patients in Korea.Established in 1962, the clinic has looked after tens of thousands of foreigners residing in Korea. Recently, it has expanded its care to foreigners outside the country

TechnologyApril 7, 2011

Trace amount of radiation found in Jeju Island rainwater

A trace amount of radioactive contaminants has been detected in rainwater on Jeju Island off South Korea's southern coast, a state nuclear safety agency said Thursday.The Korea Institute of Nuclear Safety (KINS) said tests conducted on rainwater that fell in the early morning hours of the day showed minuscule traces of iodine-131, cesium-134 and cesium-137.Concentration levels of 2.02 becquerels (

TechnologyApril 7, 2011

FMD dents demand for Korean beef, pork

Korean beef promotion event is held in Suwon, Gyeonggi Province. (Yonhap News)About half of Korean consumers cut spending on beef and pork due to concerns over foot-and-mouth disease, which has spread nationwide since November and caused significant damage, a survey conducted by Nielsen Company showed Tuesday. The survey was conducted on 1,000 internet users in major cities in Korea including Seou

April 7, 2011