A group of South Korean scientists have developed a method to differentiate the gambling tendencies of different rats, the science ministry said Tuesday, a finding that may contribute to studies of gambling addiction in humans.The team led by Kim Jung-hoon of Yonsei Medical University said that by observing rats they found a method to find traits and environmental factors that affect decision-making, core problems in psychiatric disorders such as pathological gambling and substance abuse, the Mi

Technology July 18, 2017

Minutes from last week's nuclear board meeting that decided on the temporary suspension of reactors under construction showed that the board members had also debated what to do after the suspension period ends and compensation measures, lawmakers who obtained the minutes said Tuesday.When Korea Hydro and Nuclear Power held a meeting of its board of directors on Friday, the 13 members discussed what they should do if a final decision on the new reactors cannot be reached within the given three-mo

Industry July 18, 2017

The head of retail giant Lotte Group said Tuesday the conglomerate needs to expand investment targeting its lucrative businesses to further expand presence in the market, as it is suffering from a series of troubles at home and abroad. During a meeting with the group's senior executives, Lotte Group Chairman Shin Dong-bin also stressed that his group needs to quickly adapt to the fast-changing market environment under the fourth industrial revolution. Lotte Group Chairman Shin Dong-bin arrives a

Companies July 18, 2017

Hyundai Heavy Industries Co. and its affiliate, Hyundai Mipo Dockyard Co., said Tuesday that their new orders surged in June.In a regulatory filing, Hyundai Heavy said it bagged orders valued at $2.25 billion last month, up 16 percent from a year earlier. (Yonhap)Hyundai Mipo also said it clinched $1.51 billion worth of orders in the one-month period, marking a sharp rise from $156 million tallied in June 2016.Hyundai Heavy said earlier that it and its two affiliates, including Hyundai Samho Hea

Industry July 18, 2017

A Sri Lankan national charged with raping a young South Korean woman nearly two decades ago was acquitted by the top court on Tuesday, in the final twist of a long-drawn-out investigation into the cold case.The Supreme Court upheld the not-guilty rulings by the lower courts on the 51-year-old foreigner, whose identity has been withheld, citing a lack of evidence. "It is difficult to believe the veracity of their testimonies in light of objectivity and details of the statements," the top court sa

Social Affairs July 18, 2017

South Korean stocks turned higher to reach a fresh record high Tuesday backed by institutional buying. The won rose against the US dollar.  The benchmark Korea Composite Stock Price Index rose 0.94 point, or 0.04 percent, to close at a record high of 2,426.04.Trade volume was moderate at 255.64 million shares worth 4.6 trillion won ($4 billion), with losers outnumbering winners 414 to 387. Institutional investors bought a net 122.04 billion won worth of stocks amid expectations that ma

Market July 18, 2017

South Korea's antitrust regulator announced a set of measures meant to strengthen rights of franchisees Tuesday, a sign that underscores the government's commitment to ending unfair business practices across the board.The measures call for, among other things, food franchisers to release information on profit margins of essential goods that franchisees need to buy from their corporate parents, the Fair Trade Commission said.Commission officials will team up with their counterparts from the Seoul

Economy July 18, 2017

Japanese beer topped sales in South Korea's imported beer market this year, industry data showed Tuesday, amid the rising popularity of foreign beer here. According to the data compiled by Lotte Mart, Japanese brands accounted for some 22.2 percent of imported beer sold at the discount store outlet of retail giant Lotte Group through Sunday this year.Japanese beer also ranked first last year with a 21.5 percent share, followed by German beer at 19.9 percent and Belgium at 11.3 percent. Chinese b

Industry July 18, 2017

South Korea's parliament adopted a resolution condemning North Korea's continued military provocations Tuesday, two weeks after Pyongyang carried out what it claims to have been an intercontinental ballistic missile test.During a plenary session, the National Assembly passed the resolution that called for an end to the North's escalatory actions with a warning that its provocations could lead to the regime's "permanent extinction." The National Assembly holds a plenary session at its main chambe

North Korea July 18, 2017

The 2nd Infantry Division, a forward-deployed US Army unit in South Korea, welcomed its new commanding general Tuesday.Maj. Gen. D. Scott McKean took over the command from Maj. Gen. Theodore D. Martin in a ceremony held at Camp Casey in Dongducheon close to the Demilitarized Zone.McKean will double as leader of the South Korea-US Combined Division, which includes the 2nd Infantry Division and a South Korean Army brigade. Maj. Gen. D. Scott McKean (L), the new commanding general of the US Forces

Defense July 18, 2017

A consortium led by Hanil Cement Co. has bought a controlling stake in Hyundai Cement for 622.1 billion won ($553.1 million), the state-run creditor bank said Tuesday. Korea Development Bank said creditors completed the sale of 14.17 million shares, or an 84.56-percent stake, in Hyundai Cement to the Hanil-led consortium.  (Photo courtesy of Hyundai Cement Co.)Hyundai Cement, which has been under a debt workout program since 2010, posted operating profits over the past five years. By acquiring H

Industry July 18, 2017

President Moon Jae-in urged his top military officials to continue enhancing their defense readiness and further defense capabilities Tuesday, calling national defense one of two most important pillars of the nation along with the economy."There are many pillars that help sustain a nation and the most important of them all are defense and economy," the president said while meeting with his top military officials, including his new Defense Minister Song Young-moo and Song's immediate predecessor

Defense July 18, 2017

The International Federation of Red Cross will conduct anti-disaster training next month for North Korean residents in areas that face repeated flooding, a US broadcaster reported Tuesday. "The Participatory Approach for Safe Shelter and Settlement Awareness training will be carried out for some 500 residents in North Hamkyong Province sometime next month in preparation for possible floods this year," Voice of America said, citing an IFRC report released the previous day. In early September last

North Korea July 18, 2017

A Seoul appellate court on Tuesday commuted the sentence on a former head of a now debt-ridden shipyard convicted of massive accounting fraud that culminated in state-led fund injections.The Seoul High Court reduced the sentence for Ko Jae-ho, former chief executive of Daewoo Shipbuilding & Marine Engineering Co., to nine years in jail. He was handed down a 10-year term by a lower court in January.Ko was indicted in July last year on charges of cooking the books worth over 5.7 trillion won i

Economy July 18, 2017

Clinical trials carried out by South Korean pharmaceutical companies inched up in the first half of this year, while overall biomedical research and test numbers declined globally, data showed Tuesday.According to the findings by the Korea National Enterprise for Clinical Trials, experiments and tests carried out locally made up 2.19 percent of the global total for the January-June period, compared with 2.08 percent a year earlier.Meanwhile, the number of global clinical tests decreased 22.5 per

Industry July 18, 2017