Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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KT aims for 40 trillion won sales by 2015
Outlining vision for his second term, Chairman Lee says ‘no free lunch’with network useKT Corp. on Monday reaffirmed the company’s new vision of becoming a global media group expanding into businesses other than telecom services and doubling its current sales within three years. “If there were industrial and globalization revolutions that changed the world dramatically over the past 200 years, the virtual goods revolution will make changes in the coming years,” said KT chairman Lee Suk-chae. “An
IndustryMarch 19, 2012
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Stress tests for financial holding firms: watchdog
Korea’s financial watchdog said Monday that it will conduct stress tests on the country’s financial holding firms in a bid to shield the country from a potential financial crisis.The Financial Supervisory Service has been conducting stress tests on players in each financial sector on a quarterly basis, and pressing banks, insurers and securities firms to beef up their foreign currency liquidity and other financial health.Stress tests are usually conducted to measure how well lenders and other pl
March 19, 2012
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Seoul shares gain on global optimism
Korean stocks closed 0.62 percent higher to a six-month high on Monday as encouraging signs in the U.S. economy and global economic optimism boosted large-cap exporters, analysts said. The local currency rose against the U.S. dollar. The benchmark KOSPI rose 2.56 points to 2,047, the highest close since Aug. 3, 2011. Trading volume was moderate at 541 million shares worth 4.74 trillion won ($4.22 billion) with losers leading gainers 434 to 385.“Foreign investors bought more local stocks in the l
March 19, 2012
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Banks’ overseas borrowing costs fall to 3-year low in February
Korean banks’ short-term foreign borrowing costs hit an over 3-year low in February amid eased concerns over the eurozone crisis, the financial watchdog said Monday.According to the Financial Supervisory Service, the spread on short-term foreign borrowing by 16 local lenders stood at 8.8 basis points, a drop of 23.9 basis points from January. A basis point is 0.01 percentage points.The February figure is the lowest since the watchdog began to compile related data in 2009.The spread on mid and lo
March 19, 2012
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EUCCK donates scholarships to local artists
The Europe-Korea Foundation, the charity arm of the European Union Chamber of Commerce in Korea, will hold a scholarship donation ceremony in Seoul on Thursday, organizers said. The EKF scholarship program assists many talented young students who are unable to further their academic careers due to financial instability. The EKF has selected nine college students who live in social welfare centers in Seoul or on their own after leaving the centers, the organizers said.The foundation said that bec
March 19, 2012
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Real estate, politics on cards for AMCHAM
The American Chamber of Commerce will hold committee meetings on real estate and Korean politics this week.A meeting on Thursday will discuss the current state and future outlook of the commercial and retail real estate market in Korea as well as large scale development projects. The meeting will be at 7:30 a.m. at Lotte Hotel in Seoul and will examine issues such as the growing and declining areas of real estate, engines of growth in retail development, the track record for large-scale developm
March 19, 2012
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IE School to discuss future of job market
The Seoul branch of the IE Business School will hold a panel discussion examining the future of the job market Tuesday.The event will discuss what human resource managers are looking for in new recruits.Professor William Davila from IE Business School will speak about the importance of strategic career planning and human resource development in his lecture on the future of HR and the job market. Following his brief overview, panelists are scheduled to share their own thoughts on these issues and
March 19, 2012
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Seminar on impact of eurozone crisis
The French Chamber of Commerce plans to discuss the impact of the eurozone crisis on the local economy at a seminar in Seoul on Wednesday.Guest speakers will be Yonsei-SERI EU Center director Park Young-ryeol, Le Figaro correspondent Sebastien Falletti, deputy bureau chief for Reuters Korea Yoo Choon-sik and Coface Services Korea general manager Ryu Jin-hak.The lunch will be held from 11:30 a.m. at the Novotel Seoul Ambassador Gangnam hotel in Yeoksam-dong.The meeting will be held in English and
March 19, 2012
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French ports ready for Korean investment
Transportation minister says France is natural gateway to European marketThe French transportation minister expressed hope that Korea will invest in his country’s ports, citing their strategic location for European markets and the reform of port authorities to improve their productivity. Speaking at a news conference in Seoul on Saturday, Minister Thierry Mariani said France boasts a strategic and unparalleled location at the heart of Europe, and offers access to major European platforms located
March 19, 2012
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Ways to transform Korean companies into global leaders
A foreign expert on leadership underscored that Korean companies seeking to expand into the world market should improve their global leadership readiness and transform their leaders into effective global leaders.“Companies need to break down the current mold, while not changing Korean people into something that they are not, but you want to help people open up their leadership bottlenecks,” said Heartware Group’s Korea unit chief leadership officer Willy Linssen. Heartware Group provides managem
March 19, 2012
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Daydreaming indicates sound mind
When you find your mind drifting away while doing mundane tasks, you can take a pride in your brain functions. A recent study shows that people with higher working memory tend to let their minds wander while doing routine jobs. It also allows working memory to exercise, Livescience.com reported Friday.Working memory allows the brain to process several thoughts at once, allocating resources to the imminent problems, according to the study by the Max Planck Institute for Human Cognitive and Brain
TechnologyMarch 19, 2012
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Minister calls for fool-proof nuclear safety
Knowledge Economy Minister Hong Suk-woo on Monday inspected the Wolseong nuclear power plant and the low and intermediate-level radioactive waste disposal site in Gyeongju, North Gyeongsang Province, as part of a safety checkup a year after the Fukushima nuclear accident.At the Wolseong plant, Hong checked on the emergency diesel power generator and urged staff to take extra caution for safe operation to prevent accidents like the power outage in Gori-1 unit last month.The trip comes just days a
March 19, 2012
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Korea’s stock market increasingly in sync with global markets: report
The correlation between the KOSPI and the global financial markets has been strengthening in a way that undermines overall market stability, a report has said. According to a report issued by the Korea Institute of Finance, a state-run think tank, the country’s main bourse moved increasingly in tandem with other major markets such as S&P500 and MSCI indexes. Based on an analysis of the daily and weekly changes at major indexes, the report said what is called “market synchronization” increased af
March 19, 2012
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Banks strive for concessions in Asia
Consultation with foreign regulators emerges as key task for successKorean banks have been in competition to win eased regulations from overseas financial regulators as they tap emerging markets.Their main targets include East, Southeast and South Asian countries.“We are developing financial products which will come under deregulation from regulatory authorities in China, Vietnam and Brazil,” a senior executive at Korea Exchange Bank said.He said KEB is mapping out strategies to regain competiti
March 19, 2012
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Himart chairman summoned over alleged tax evasion
Prosecutors summoned the chairman of Himart Co., a major South Korean home appliance retailer, on Monday for questioning on the charges of capital flight and tax evasion.Sun Jong-koo is accused of stashing personal assets and company funds overseas as well as using irregular methods to transfer weal
IndustryMarch 19, 2012
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French ports ready for Korean investment
Transportation minister says France is natural gateway to European marketThe French transportation minister expressed hope that Korea will invest in his country’s ports, citing their strategic location for European markets and the reform of port authorities to improve their productivity. Speaking at a news conference in Seoul on Saturday, Minister Thierry Mariani said France boasts a strategic and unparalleled location at the heart of Europe, and offers access to major European platforms located
March 19, 2012
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Apple to make announcement on huge cash holdings
Apple scheduled an announcement Monday on plans for its huge cash balance, estimated to be at least $97 billion from sales of its hugely successful gadgets like the iPad and iPhone.An Apple statement said chief executive Tim Cook and chief financial officer Peter Oppenheimer would hold a conference
TechnologyMarch 19, 2012
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24-pound tumor misdiagnosed as pregnancy
A woman in Barcelona, Spain, is taking legal action against a hospital where doctors misdiagnosed a 24-pound, cancerous uterine tumor as a late-term pregnancy. The woman, whose name has not been released, told ThinkSpain she went to a hospital emergency room suffering from excruciating abdominal pai
TechnologyMarch 19, 2012
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Drop in strokes, blood vessel conditions boosts life expectancy
A decline in cerebrovascular diseases and other forms of chronic illness has helped push up Korea’s life expectancy in the past 20 years, a report showed Sunday. The report by the Korea Health Industry Development Institute showed men and women living 4.77 years and 5.34 years longer, respectively, in 2010 compared to 1990. The average life expectancy among Koreans in 1990 stood at 77.39 years for men and 82.16 years for women, and in 2010 those averages rose to 81.29 years and 86.63 years.The K
TechnologyMarch 18, 2012
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Samsung fined for hindering antitrust investigation
The Fair Trade Commission said Sunday that it fined Samsung Electronics and two of its executive officers a combined 400 million won ($355,000) for hindering an investigation by antitrust regulators. The fines are the highest-ever imposed for such an offense, the nation’s antitrust watchdog said. Last March the FTC raided Samsung’s Suwon plant in Gyeonggi Province as part of an investigation into the pricing policy of local handset makers. However, security officials there delayed the entry of a
IndustryMarch 18, 2012