Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Seoul Metro to seek legal action against malicious complaints
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Golden chance to liquidate babies’ gold rings?
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Software piracy losses drop 29% in 2011: report
Revenue losses from illegal software reproduction sharply fell last year on the back of the government’s sweeping drive against online piracy, a report said Wednesday.Losses from software piracy totaled 214 billion won ($188 million) last year, down more than 29 percent from a year ago, according to the Korea Software Property-Right Council.“The results reflect anti-piracy laws and the government and authorities’ ongoing drive to clean up software counterfeiting,” said Kim Eun-hyun, chairman of
IndustryMarch 28, 2012
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Exports to pick up in second quarter: KITA
Korean companies’ exports, which have been sluggish for the past two quarters, are likely to pick up in the three months from April, a think tank affiliated with the Korea International Trade Association said Wednesday.The KITA Institute for International Trade projected that exports would not deteriorate as recent indicators of U.S. consumer sentiment were better than expected and the eurozone agreed on a second bailout package for Greece. “The economic conditions perceived by Korean companies
March 28, 2012
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Hana chief vows to expand insurance unit
Kim stresses significance of overseas opportunities in face of saturated local marketHana Financial Group chairman Kim Jung-tai unveiled his business policy to bolster the insurance sector during his first news conference as the group’s new chief.While the group has been operating a joint life insurance venture in coordination with HSBC, Kim expressed his willingness to expand the insurance business via mergers and acquisitions.“The insurance sector is the weakest among our business units,” he s
March 28, 2012
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Clearwire-fueled freebie services threaten AT&T, Verizon
AT&T Inc. and Verizon Wireless, working to wring more profit from their next-generation data networks, face a new obstacle: Smaller competitors are offering similar services for free.FreedomPop, a company funded by Skype founder Niklas Zennstrom, will sell an iPhone case that gives consumers free access to 1 gigabyte of data from Clearwire Corp.’s 4G wireless network. Another Clearwire partner, United Online Inc.’s NetZero, is offering 200 megabytes a month for free for as long as 12 months ― so
TechnologyMarch 28, 2012
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Samsung reaches out to secure global mobile lead
Over 5 million units of Galaxy Note sold worldwide ahead of Galaxy S3 launchDespite its ongoing patent suits in different courts around the world, Samsung Electronics is positioning itself as the global top smartphone manufacturer with the successful landing of its Galaxy Note.The world’s second largest handset maker said on Wednesday that it sold more than 5 million units of the 5.3-inch Galaxy Note globally since rolling out the gadget in October of last year.Since taking up 67 percent of the
IndustryMarch 28, 2012
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Samsung chairman sued by his nephew’s family
Samsung Electronics Co. chairman Lee Kun-hee is being sued by yet more relatives belatedly demanding a share of his inheritance from his father, Samsung founder Lee Byung-chull.In February, Lee, the third son of the group founder, was sued by an elder brother and elder sister, over their father's le
IndustryMarch 28, 2012
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New ‘cloaking device’ allows heat evasion
French researchers have developed a technology to “cloak” objects from heat, BBC reported Tuesday.The idea of this “thermal cloak” is to re-direct heat so certain areas will be protected from heat, according to the study published on online optic journal Optic Express. The cloak will have 20 rings of material with the diffusivity to transmit or dissipate heat.The heat that entered the multi-layered structure of the cloak is diffused around the outer part, preventing the inner part from rising
TechnologyMarch 28, 2012
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Twins seek sex change in China first: report
Two young Chinese women undergoing sex-change surgery at a Shanghai hospital are hoping to be the first twins in the country to change their gender, a state-backed newspaper said Wednesday.The 25-year-old sisters from the southwestern province of Yunnan have already undergone preliminary surgery at
TechnologyMarch 28, 2012
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U.S. man injured in gun accident gets new face
After 15 years of wearing a mask and living as a recluse, a 37-year-old Virginia man disfigured in a gun accident got a new face, nose, teeth and jaw in what University of Maryland physicians say is the most extensive face transplant ever performed. From left to right: face of Richard Norris b
TechnologyMarch 28, 2012
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NASA launches suborbital rockets after delays
This image provided by NASA shows the launch of five suborbital sounding rockets, Tuesday March 27, 2012. The first rocket was launched at 4:58 a.m. EDT and each subsequent rocket was launched 80 seconds apart. (AP)NASA has launched five rockets to study the upper level jet stream after several dela
TechnologyMarch 28, 2012
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100-year-old light bulb still works
GE Lighting said a 100-year-old light bulb from a time capsule uncovered at its Nela Park facility in Ohio still shines.The company said the time capsule containing five incandescent light bulbs was unearthed Monday as part of the run-up to the East Cleveland facility's 100th anniversary celebration
TechnologyMarch 28, 2012
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European risk and oil major risks for Korean economy: IMF No. 2
David Lipton, first deputy managing director of the International Monetary Fund, on Tuesday warned that the Korean economy still faces “serious” risks from the ongoing European fiscal crisis, wild capital flows and inflationary pressure.“There remain serious risks (for Korea), including risks of recurrence problems from Europe, inflationary pressure and volatile capital flows, as well as the possibility of oil price increases,” Lipton told reporters in Seoul. On a trip to discuss the possible ex
March 27, 2012
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KEPCO takes nuclear summit as new business opportunity
The Seoul Nuclear Security Summit has been a golden opportunity for Korea Electric Power Corp. as the company seeks overseas business expansion.Kim Joong-kyum, chief executive of the state-funded power company, met with a number of potential business partners and high-profile government officials including two foreign leaders who visited Seoul to attend the summit.On Monday, Kim sat down with Nigerian President Goodluck Jonathan and requested support for KEPCO’s investment in the African country
IndustryMarch 27, 2012
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Korean firms scramble to cash in on summit
The country’s business circles were overwhelmed with business meetings as the Nuclear Security Summit entered its final day on Tuesday.With a goal of reaffirming partnerships and searching for new business opportunities, a large number of firms, such as Hyundai Motor, LG Chem, LS Industrial Systems, POSCO, Samsung C&T and SK C&C, participated in private meetings with the foreign delegations throughout the day.In particular, a total of 10 agreements were signed during a business forum arranged be
IndustryMarch 27, 2012
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Korea Exchange to launch oil spot trading system Friday
Korea’s first electronic oil spot market will open at 10 a.m. on Friday, the Korea Exchange said. The bourse operator said the market would help make distribution more transparent and stabilize petroleum prices in the domestic market. Major oil brands such as SK, GS, HD and S-Oil will be listed on the new market, based on gas stations across the nation. Trading hours are set from 10 a.m. until 4 p.m., and a single unit for a trade order is 20,000 liters. Market participants are oil companies, oi
March 27, 2012
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[Herald Interview] FORCA to foster relocation of Japanese firms to Korea
For decades, business associations have been known for aggressive lobbying of policymakers while passively responding to calls for corporate social responsibility. The Korea Foreign Company Association, the largest foreign business community in the country, is seeking to change this image and expand its role to attract overseas businesses.Kim Jong-shik, the newly appointed chairman of FORCA, says the organization is drawing up a plan help transfer the headquarters of Japanese firms to Seoul this
IndustryMarch 27, 2012
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Consumers tightening belts as prices soar: survey
A growing number of Korean consumers have cut back on spending amid high-flying prices recently and the belt-tightening trend is expected to continue for the time being, a recent survey found Tuesday.The Korea Chamber of Commerce and Industry, which surveyed 500 households nationwide, used the acronym “SALT,” which stands for “sale, a little, low price and transfer,” to explain the new characteristics of consumer behavior.In the survey, 94 percent of households said they plan to watch prices mor
IndustryMarch 27, 2012
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Firms look to enhance image at nuclear summit
Leaders’ summit, industry forum seen as a good chance to improve image, products overseasKorean companies in sectors from auto and retail to telecom and electronics waged promotion campaigns on Tuesday to cash in on the Nuclear Security Summit and other sideline events taking place in Seoul. The largest-ever diplomatic event here offers major opportunities to boost their image and market products overseas, the companies say, with nearly 10,000 public officials, business people and journalists co
IndustryMarch 27, 2012
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Seoul shares up 1.02% on U.S. gains
South Korean stocks finished 1.02 percent higher on Tuesday as investors took a cue from overnight gains in U.S markets, analysts said. The local currency rose against the U.S. dollar.The benchmark KOSPI added 20.57 points to close at 2,039.76. Trading volume was moderate at 599 million shares worth 5.07 trillion won (US$4.47 billion) with losers outpacing gainers 439 to 384.The local currency finished at 1,134.55 won to the greenback, up 7.05 won from Monday’s close, on a bullish stock market,
March 27, 2012
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KB Kookmin Card seeks top spot on high quality
KB Kookmin Card is seeking to take the No. 1 position in the local credit card market on a “gradual basis” by focusing on quality-based growth, not reckless sales activities.Though the company has secured the No. 2 status since its establishment a year earlier, it plans not to be hasty in overtaking Shinhan Card.“For the second-year management strategies, we will reinforce market dominance by prioritizing customer-oriented and quality-based growth,” the company said in a statement.Its vision com
March 27, 2012