Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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Korea enters full election mode
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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South Korean banks’ household loans rise in May
South Korean banks' household loans rose in May from the previous month due to lowering of interest rates by some lenders and more purchases made with credit cards, the central bank said Thursday. Local banks' household loans, including home-backed loans and credit loans, reached 455.8 trillion won (US$389.1 billion) as of the end of May, up 2.2 trillion won from a month earlier, according to the
June 7, 2012
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Apple seeks to block sales of Samsung's new Galaxy phone
Apple Inc. asked a federal judge in San Jose, California, to include Samsung Electronics Co.'s Galaxy S III smartphone in its request to block sales of Samsung products in the U.S.Samsung released the Galaxy S III in the U.K. on May 29 and U.S. carriers have announced they will start selling the smartphone in the U.S. on June 21, Apple said in a court filing.Apple has obtained the Galaxy S III in
TechnologyJune 7, 2012
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Scientists do away with body mass index
British researchers say people concerned about heart disease and diabetes should watch their height-to-waist ratio rather than the body mass index.A team of British scientists found people should keep their waist measurement to half of their height, The Daily Telegraph reported.In a study of 300,000 people, the team found this ratio was a better predictor of high blood pressure, diabetes and cardi
TechnologyJune 7, 2012
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Facebook photo ends up on porn, dating sites
(This photo is not directly related to the article)Housewife Jules Rahim was shocked when a friend tipped her off that her photo was featured on a pornographic website.That was not the only unauthorized use of the picture of her in a bikini, which she had posted on her Facebook account three years ago.Another friend told her that the photo had also popped up on a dating site called sgGirls.com.
TechnologyJune 7, 2012
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U.N. report warns environment is at tipping point
The earth's environmental systems ``are being pushed towards their biophysical limits,'' beyond which loom sudden, irreversible and potentially catastrophic changes, the United Nations Environment Program warned Wednesday.In a 525-page report on the health of the planet, the agency paints a grim picture: The melting of the polar ice caps, desertification in Africa, deforestation of tropical jungl
TechnologyJune 7, 2012
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Positive attitude plays role in longevity
A positive attitude and a sense of humor might play a role in living a longer, healthier life, U.S. researchers suggested.Study co-author Dr. Nil Barzilai, director of the Albert Einstein College of Medicine's Institute for Aging Research in New York, and colleagues developed a questionnaire designed to identify certain genetically based personality traits, and used it to assess 243 Ashkenazi Jewi
TechnologyJune 7, 2012
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First flight of drone powered by hydrogen
EDWARDS AIR FORCE BASE, California (AP) ― A new Boeing unmanned drone that is designed to stay airborne for days has completed its first autonomous flight at Edwards Air Force Base, despite a rocky landing. Boeing said Monday that the 28-minute flight of the Phantom Eye began at 6:22 a.m. Friday and the aircraft reached an altitude of 1,244 meters and a cruising speed of 114 kph before landing at the California desert base. Boeing says after touching down, the drone was damaged when the landing
TechnologyJune 6, 2012
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Hyundai Group set to launch hotel business
Hyundai Group will complete the process of acquiring Banyan Tree Club & Spa Seoul, one of the nation’s three six-star hotels, in the coming days.An industry source said Wednesday that “Hyundai Group is about to launch its hotel business by becoming the biggest shareholder of Banyan Tree Club & Spa Seoul” after it was picked as the preferred bidder for the resort last January.The conglomerate has proposed a bid of 160 billion won ($140 million) to acquire the shares on the condition that the grou
IndustryJune 6, 2012
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Apple asks German court to ban Galaxy Tab
Apple Inc. asked a Dusseldorf appeals court to ban sales of Samsung Electronics Co.’s Galaxy 10.1N tablet computer, a modified version of the device introduced after the original tablet was blocked in Germany.Samsung did not sufficiently change the device and is still trying to exploit the iPad’s reputation, said Matthias Koch, an Apple lawyer, at a hearing today on Apple’s bid to overturn a lower court decision in February denying the request.“Samsung added some loudspeakers and made the sides
TechnologyJune 6, 2012
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AMCHAM CEOs serve as waiters for scholarships
By Renee Park Executives from some of the world’s top multinational companies donned waiters’ uniforms on Tuesday evening for the 8th AMCHAM CEO Servers’ Night, to serve a four-course dinner to their employees, friends and family members.Held at the Banyan Tree Club & Spa Seoul, the eleven executives, from companies such as Boeing Korea, Fidelity Worldwide Investment and Costco Wholesale Korea, raised about 30 million won to go toward scholarship assistance for Korean university students from di
June 6, 2012
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Container cargo tops record 2m TEU mark
The volume of container cargo handled at South Korea’s seaports surpassed the 2 million 20-foot-equivalent units mark for the first time in May on growth of transshipments, the government said Wednesday.The volume of container cargo handled at the country’s seaports is estimated to have reached more than 2.01 million TEUs last month, up 8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs.“This is the largest volume ever recorded on a monthly basis, wi
June 6, 2012
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SK seeks Turkish, Thai opportunities
SK Group is striving to beef up its presence in Turkey and Thailand as one of Korea’s largest conglomerates seeks to cash in on growing business opportunities in the two fast-growing markets. The corporation said Wednesday that chairman Chey Tae-won recently visited the two countries to expand the group’s operations in the regions and reinforce business networks there. On Monday, Chey signed a memorandum of understanding with Dogus Group, a major Turkish industrial group engaged in multiple sec
IndustryJune 6, 2012
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Korea, U.S. to hold FTA committee meetings
Officials of South Korea and the United States will meet in Washington this week to check on the implementation of the free trade agreement between the two countries, the Trade Ministry said Wednesday.Seoul and Washington have established the minister-level Joint Committee and 19 subcommittees and working groups to oversee the implementation of the landmark trade pact that went into force in March.Of them, the committees on trade in goods, trade remedy, service and investment, and the working gr
June 6, 2012
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Galaxy S3 to hit Chinese tech stores
Samsung also plans to release the latest smartphone in Korea, U.S. this monthChinese consumers will be able to get hold of Samsung Electronics’ new flagship smartphone “Galaxy S3” this weekend as Korea’s biggest tech firm secured mobile carrier deals with China’s three telecom giants.Samsung Electronics will offer TD-SCDMA 3G smartphones with China Mobile, CDMA phones with China Telecom and WCDMA with China Unicom, it said in a press release.“We have been closely collaborating with China’s mobil
TechnologyJune 6, 2012
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GM Korea downsizing faces union protest
Early retirement plan comes amid rumors on relocation of production basesGM Korea’s recent policy to downsize its manpower structure via a voluntary redundancy program has been inviting backlash from the carmaker’s labor union.Unionized workers at the automaker are set to stage a series of protests against the early retirement scheme, which has allegedly been initiated by new GM Korea CEO Sergio Rocha, according to sources.The Korean unit of U.S.-based General Motors is considering reducing the
IndustryJune 6, 2012
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Korea’s economy unlikely to recover in H2: economists
South Korea’s economy may not be able to recover from its current slowdown in the second half of this year mainly due to unfavorable overseas developments, local economists said Tuesday.In an economic assessment gathering hosted by the Federation of Korean Industries, experts predicted the persistent eurozone fiscal woes are exerting negative influence on the country. They added slower than expected growth in China and the United States is weighing down growth that was originally expected to pic
June 6, 2012
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KDB said to start sale of Samurai bonds
Korea Development Bank started marketing a sale of as much as 50 billion yen ($635 million) of Samurai bonds planned for next week, according to a person with direct knowledge of the matter.KDB told investors it plans to price the two-year notes to yield 60 basis points to 75 more than the yen swap rate as soon as June 13, said the person, asking not to be identified because the information is private.The lender is following Export-Import Bank of Korea, in selling yen-denominated debt as the ben
June 6, 2012
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Overseas account holders required to report to NTS
People who have held more than 1 billion won ($850,000) in overseas accounts even for a day in the past year are required to report to the nation’s tax agency by the end of this month.Up to 100 million won in rewards will be given to others who report them.The National Tax Service said Wednesday it will receive reports from residents of Korea or domestic legal entities that own a total of more than 1 billion won in listed stocks or accounts in foreign financial institutions.The overseas financia
June 6, 2012
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Financial firms’ household loans up in April: BOK
Household loans offered by South Korean depository institutions rose in April, despite ongoing government efforts to curb private debt. the central bank said Wednesday, Household lending by local banks and non-bank institutions totaled 639.58 trillion won ($541.09 billion) as of the end of April, up 2.46 trillion won from the preceding month, according to the Bank of Korea.The monthly total is the second highest after 639.60 trillion won tallied in December 2011. The gains also come after loans
June 6, 2012
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Trading volume plunges on eurozone woes
KOSDAQ market cap dips below W100tr for first time since SeptemberThe market capitalization of local bourses and the value of daily stock trading plunged recently on growing investor angst as the European debt crisis continues to drag down the global economy. Rising concerns of a Greek exit from the eurozone and a bank run in Spain, along with slowing growth in the world’s two largest economies ― the U.S. and China ― have weakened investor sentiment.The aggregate market value of the benchmark KO
June 6, 2012