Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Korea-Turkey FTA to take effect May 1
The Korea-Turkey Free Trade Agreement will enter into force officially on May 1, the Ministry of Trade, Industry and Energy announced on Monday. “Once the FTA takes effect in May, Korea and Turkey will eliminate tariffs on all industrial goods within seven years,” a ministry official said. The trade deal was officially signed on Aug. 1, 2012, but its implementation had been delayed until its approval by Turkey’s parliament. South Korea’s National Assembly ratified the bilateral FTA late last yea
IndustryApril 1, 2013
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Toyota drives toward harmony
Toyota, the Japanese carmaker that has become a favorite among Korean car lovers for its practical yet sleek Camry, is out to pursue “harmony” with its newest lineup of cars unveiled at the Seoul Motor Show last week. “We’re all about harmony ― harmony between different generations and harmony between all types of roads, including on and off,” said Toyota Motor Korea chief executive Tommy Nakabayashi, in Korean no less, during the presentation last week to showcase Toyota’s newest toys.Among the
MobilityApril 1, 2013
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BMW up to the challenge: CEO
BMW, undeniably one of the hottest-selling imported cars in the Korean market today, was on fire this week at the Seoul Motor Show where it unveiled a record number of cars and motorbikes ― 26, to be exact. Among the plethora of models, the BMW New 3 Series Gran Turismo, the New M6 Gran Coupe and the New Z4 were showcased for the first time in Asia. As some of the most heart-stopping models at the show, the cars were an indication of the challenges BMW is eager to meet, according to BMW Korea’s
MobilityApril 1, 2013
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Kumho chairman offers cash to 12 cancer-suffering employees
Kumho Asiana Group chairman Park Sam-koo delivered cash support last weekend to 12 employees diagnosed with cancer, group officials said Monday.The decision came after a Kumho Tire employee was recently confirmed to have contracted tracheal cancer. After receiving the latest news, the chairman gave the order to find if there were other cancer patients or those with severe diseases at any of the group’s affiliates. The group found a total of 12 employees had been on sick leave. Park then deliver
IndustryApril 1, 2013
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Female students just as capable in math: study
Contrary to popular belief that men outperform women in math and science, a new study claims that both genders tend to show similar achievement, while Asian-Americans are the highest achievers among ethnic groups in the U.S.The study, to be released in the Psychology of Women Quarterly, was conducted on 367 male and female 10th graders, consisting of African-Americans, Hispanic-Americans and Asian-Americans. The results revealed that male and female students showed similar performances in math a
TechnologyApril 1, 2013
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Korea-Turkey FTA to take effect May 1
The Korea-Turkey Free Trade Agreement will enter into force officially on May 1, the Ministry of Trade, Industry and Energy announced on Monday. “Once the FTA takes effect in May, Korea and Turkey will eliminate tariffs on all industrial goods within seven years,” a ministry official said. The trade deal was officially signed on Aug. 1, 2012, but its implementation had been delayed until its approval by Turkey‘s parliament. South Korea’s National Assembly ratified the bilateral FTA late last yea
April 1, 2013
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Morning smokers have higher cancer risk
The sooner a smoker lights up upon waking in the morning, the more likely he or she is to acquire lung or oral cancer, U.S. researchers say.Steven Branstetter, assistant professor of biobehavioral health at Pennsylvania State University, said NNK (4-(methylnitrosamino)-1-[3-pyridyl]-1-butanone) induces lung tumors in several rodent species. Levels of NNAL (4-(methylnitrosamnino)-1-(3-pyridyl)-1-butanol) in the blood can therefore predict lung cancer risk in rodents as well as in humans."We found
TechnologyApril 1, 2013
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Arctic ‘greening’ seen through global warming
Land within the Arctic circle is likely to experience explosive "greening" in the next few decades as grass, shrubs and trees thrive in soil stripped of ice and permafrost by global warming, a study said on Sunday.Wooded areas in the Arctic could increase by as much as 52 percent by the 2050s as the so-called tree line -- the maximum latitude at which trees can grow -- shifts hundreds of kilometers north, according to computer simulations published in the journal Nature Climate Change."Such wide
TechnologyApril 1, 2013
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S. Korea's consumer prices grow 1.3 pct on-year in March
South Korea's consumer prices increased at a slower pace in March, keeping its on-year growth in the 1-percent range for the fifth straight month, a government report showed Monday.The country's consumer prices index rose 1.3 percent on-year in March, slowing from a 1.4 percent gain in the previous month, according to the report by Statistics Korea. From a month earlier, it dropped 0.2 percent.The on-year figure represents the fifth straight month since November that the price growth has stayed
April 1, 2013
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Ministries to unveil plan to boost housing market
The government plans to announce its first set of measures aimed at reviving the sluggish real estate market on Monday.The comprehensive plan would likely include various tax cuts on housing transactions. The Finance Ministry and the Ministry of Land, Infrastructure and Transport have been drawing up the measures.The government had said that it would announce the housing plan before it devised an extra budget to secure funding for job creation and SMEs. The supplementary budget will likely take
March 31, 2013
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[Graphic News] Galaxy most valuable brand in Korea
Samsung Electronics’ Galaxy smartphone line was ranked first in a survey of Korea’s top 100 brands in the first quarter, a local brand equity evaluator said Sunday. According to the survey by Brand Stock, the nation’s most popular smartphone brand retained the top spot for the second consecutive year with the highest score of 938. E-mart, the nation’s largest discount franchise, came in second. Olleh, the flagship brand of KT, was named the third-most popular brand in Korea. KB Kookmin Bank and
March 31, 2013
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[Newsmaker] FTC nominee Noh to face uphill confirmation
Korea Fair Trade Commission nominee Noh Dae-lae is expected to face a tough grilling at confirmation hearings as opposition lawmakers have questions over his positions on issues concerning conglomerates and weapons procurement.The former bureaucrat for the Ministry of Strategy and Finance has been known to be against further stringent rules on the equity structures of conglomerates.When the antitrust watchdog set out to introduce tougher measures on big businesses’ web of complex cross-sharehold
IndustryMarch 31, 2013
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Overseas construction orders surge 56% in Q1
Overseas orders won by South Korean builders surged significantly in the first quarter from a year earlier, the construction ministry said Sunday, reflecting a possible recovery in the global construction market.According to the Ministry of Land, Infrastructure and Transport, overseas deals signed by South Korean construction companies totaled $12.5 billion in the January-March period, up 56 percent from the same period last year.The ministry noted the figure fell a little short of the five-year
March 31, 2013
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CJ Korea Express unveils W5tr investment plan
CJ Korea Express Corp., South Korea’s largest logistics firm, unveiled an ambitious plan Sunday to become the world’s fifth-largest logistics company by 2020, one day before its scheduled merger with its affiliate and the country’s second-largest logistics company CJ GLS Inc.Company officials said the merger will be completed Monday with Lee Chae-wook, a former chairman of GE Korea, tapped to lead the new CJ Korea Express.“Our country is producing many of the world’s No. 1 products in various in
March 31, 2013
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Unit price of Korean vehicles grows 4.4%
The average price of vehicles shipped overseas by South Korean automakers grew 4.4 percent from a year earlier in the first two months of the year, more than offsetting a drop in the volume of their shipments, an industry group said Sunday.According to the Korea Automobile Manufacturers Association, the number of cars shipped overseas by the country’s five automakers in the first two months of the year dropped 5 percent to 518,251 units from 545,796 units in the same period last year.The average
March 31, 2013
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Shares expected to trade higher on stimulus hope
South Korean stocks are expected to trade higher this week on the back of rising hopes for the government’s envisioned extra budget plan to bolster the local economy, analysts said.The benchmark Korea Composite Stock Price Index closed up 56.18 points, or 2.88 percent, to 2,004.89 on Friday from the previous week.Earlier last week, the KOSPI advanced on the eased concerns over the eurozone as Cyprus reached a final deal on Monday to receive a bailout worth 10 billion euros ($12.82 billion) to pr
March 31, 2013
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[Photo News] Joint marketing
IndustryMarch 31, 2013
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SNS stock scams face clampdown
Financial authorities plan to bolster supervision of unfair stock trading practices via social networking services.The regulatory policy comes amid groundless rumors that have been rampant lately on social networks including Facebook, Twitter and smartphone applications.To crack down on cyber-based stock manipulation, the Financial Supervisory Service plans to closely coordinate with the Financial Services Commission and the Korea Exchange.An official of the Korea Exchange said the main bourse o
March 31, 2013
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CEO resignations spawn speculation about motive
Four conglomerate chiefs have quit their posts as chief executive in the past month, raising speculation about the motives behind the series of apparently unrelated events.Doosan Infracore chairman Park Yong-maan, Hanjin Heavy Industries & Construction chairman Cho Nam-ho, Lotte Group chairman Shin Dong-bin and Shinsegae Group vice chairman Chung Yong-jin have stepped down from their posts, although they intend to retain their positions as “board members.”The business groups shared the view that
IndustryMarch 31, 2013
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Local market for smartphones faces stagnation: report
The growth of the South Korean market for smartphones will begin slowing down this year and possibly post a negative growth in 2016 due to market saturation, a U.S. market research group said in a report released Sunday.According to the report from Strategy Analytics, the local market for smartphones is expected to grow 8 percent from a year earlier to around 33.1 million units this year.The growth rate will mark a significant slowdown from an explosive 717 percent on-year surge in 2010, as well
TechnologyMarch 31, 2013