New drug hope for hepatitis C sufferers

WASHINGTON (AFP) ― A cocktail of three drugs, including a new class of antiviral agent, has shown encouraging results in treating hepatitis C, a disease which attacks the liver, a study said Wednesday.“This study represents a remarkable advance and a potential cure for people with hepatitis C who have not responded to previous therapy,” said co-author Stuart Gordon, from the Henry Ford Hospital in

TechnologyMarch 31, 2011

S. Korea's industrial output grows 9.1 pct in Feb.

   South Korea's industrial output grew for the 20th straight month in February, indicating the economy is continuing to expand, a government report showed Thursday.   According to the report by Statistics Korea, production in the mining and manufacturing industries rose 9.1 percent last month from the same month a year earlier. Output has increased since July 2009.   Output was fueled mainly by s

March 31, 2011

S. Korea's manufacturing sentiment edges down for April

  South Korean manufacturers' business confidence for April inched down as rising oil costs and Japan's quake are expected to increase economic uncertainty, the central bank said Thursday.   The index of manufacturers' outlook on business conditions reached 95 for April, down from 96 for March, according to the Bank of Korea (BOK). The index measures manufacturers' outlook on business conditions f

March 31, 2011

6 potential buyers submit bids for Kim's Club

E-Land Group, a leading South Korean fashion retailer, said Wednesday that six potential buyers have submitted their bid proposals for Kim's Club Mart Co., the group's supermarket chain operator.   E-Land, however, did not reveal the names of the potential buyers, citing a confidentiality agreement with them.    According to industrial sources familiar with the sale of Kim's Club, Lotte Shopping C

IndustryMarch 30, 2011

Samsung Group to strengthen legal compliance education

Samsung Group, the country’s top conglomerate, said Wednesday that it will strengthen legal compliance within the first half of this year by upgrading training sessions for its executives.In a weekly meeting of the group’s presidents, Kim Sang-kyun, Samsung’s president of legal and compliance office, said the group plans on completing all preparations for compliance operations by June. He also ask

IndustryMarch 30, 2011

Seaweed, mask sales soar on radiation fears

Fears of radiation from Japan have pushed up sales of masks and food such as kelp considered to help prevent poisoning, local retailers said Wednesday.Concerns over radiation have been rising during the past few days on news that traces of radioactive materials are being detected throughout the nation following a nuclear crisis in Japan.The state-run Korea Institute of Nuclear Safety confirmed Mon

IndustryMarch 30, 2011

Financial regulator accused of lax supervision of banking fees

Financial regulators have been glossing over commercial banks’ long-standing practice of charging customers irregular service fees on transactions via automated teller machines.The Financial Services Commission recently held a low-key internal meeting to map out comprehensive measures to ease the growing financial burden of low- and middle-income households.During the meeting composed of FSC senio

March 30, 2011

Renault Samsung to cut production by 20% in April

Renault Samsung Motors Co. announced Wednesday that it will cut output by 20 percent during April due to a parts shortage caused by the disasters in Japan. Renault Samsung, which stopped extra production after working hours and Saturday production on March 18, said its sole plant in Busan has been experiencing shortages in some engines and transmission supplied by Japanese firms.Renault Samsung sa

IndustryMarch 30, 2011

Iran Bank requests end to restriction

Bank Mellat asked Korean regulators to take the company off a list of institutions whose transactions must be approved by the central bank, said Ernst Lee, a spokesman for the Financial Services Commission in Seoul.Korea last year put 102 Iranian organizations including Tehran-based Bank Mellat and 24 individuals on a list banning financial transactions without central bank approval.Yonhap News ea

March 30, 2011

Hynix doles out first cash dividend

World’s No. 2 computer memory-chip supplier sanguine on global marketICHEON, Gyeonggi ― Hynix Semiconductor on Wednesday said it will be doling out cash dividends for the first time this year and expected more to come on the back of rosier forecasts for the memory chip market.“We expect the demand for memory chips to continue rising and as long as we continue to see profit exceeding our objectives

IndustryMarch 30, 2011

Hong Kong opens world’s highest hotel

HONG KONG (AFP) ― The world’s highest hotel opened its doors in Hong Kong on Tuesday, housed in the city’s tallest skyscraper and offering unrivalled panoramic views of the world famous Victoria Harbor.Towering some 490 meters above the bustling, chaotic streets of the Southern Chinese city, the Ritz-Carlton Hotel is making a grand comeback after temporarily closing in 2008.Visitors peered out of

IndustryMarch 30, 2011

Regulator toughens card firm regulations

Korea’s financial regulator said Wednesday it will require credit card companies to set aside more loss reserves against credit card loans amid growing concerns over burgeoning household debts.The measures to limit credit card companies’ lending and prop up their financial health came after the sector recorded sharp growth in household loans last year. Mushrooming household debts have been cited a

March 30, 2011

Scientists develop biochip to help detect diseases, pollutants

 South Korean researchers said Wednesday that they have developed a highly sensitive biochip capable of precisely detecting diseases and environmental pollutants.   The new biochip has been tested to be 100,000 times more sensitive in detecting individual molecules of diseases and pollutants compared to conventional screening devices, said the state-run Korea Research Institute of Bioscience and B

TechnologyMarch 30, 2011