Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
K-pop singer lost consciousness after being hit by foul ball, cancels show
-
4
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
5
Contentious grain bill put directly to plenary meeting for vote
-
6
Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
-
7
Why is Apple Pay struggling to get purchase in Korea?
-
8
Yoon's office denies considering liberal figures for key posts
-
9
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
10
[Today’s K-pop] BTS pop-up event to come to Seoul
-
German firms lag in customer satisfaction
German automakers lagged behind their Japanese competitors in customer satisfaction in after-sales services in Korea, a vehicle research report showed Sunday.According to a yearly assessment by Marketing Insight based on a consumer survey on major carmakers, Volkswagen and BMW shared the lowest score of 746 out of 1,000 points in the after-sales sector.Audi and Mercedes-Benz posted 768 and 808 points, respectively, but none of the four German companies outperformed any of the five major Japanese
MobilityDec. 16, 2012
-
New SM5 keeps Renault Samsung plant busier
BUSAN ― Resounding with K-pop music, the production lines at Renault Samsung Motors’ Busan plant were full of energy Friday. With the recent launch of its new SM5 sedan, the Korean unit of the France-based Renault Group resumed overtime work at the factory last month for the first time in 11 months.“After a long time, the new SM5 is revitalizing factory workers here. We have continued working overtime since November,” said Oh Jik-youl, manufacturing chief of Renault Samsung. Amid an almost 40
IndustryDec. 16, 2012
-
ASEIC drives eco-innovation for Asian SMEs
The ASEM SMEs Eco-Innovation Center, established by South Korea’s Small and Medium Business Administration in 2011 to promote eco-innovation in the ASEM member countries, has offered its eco-business consulting services for small and medium enterprises in Asia for the past two years. Behind the drive is ASEIC’s belief that SMEs play a critical role as dynamic developers and adopters of eco-innovation in the global economy. According to the OECD, eco-innovation is defined as innovation that resul
IndustryDec. 16, 2012
-
Korean, Chinese SMEs discuss green partnerships
Korean and Chinese SMEs discussed ways to expand bilateral green partnerships in a forum on Nov. 29 in Qingdao, Shandong province, China. The forum, hosted by ASEIC, was held after the Chinese government pledged to invest in projects that would move it toward a green economy in July.According to China’s green road map, China will invest more than 2 trillion yuan ($315 billion) over the next five years into opportunities in the country’s burgeoning energy-saving sector. Under the road map, China
IndustryDec. 16, 2012
-
ASEIC tailors eco-technology for local needs
Technology transfer is one of the most sought-after forms of assistance for developing countries, but ASEIC thinks technology should be tailored for local needs to become more effective.ASEIC, which was established in 2011 with a mission of promoting eco-innovation at small and medium enterprises in Asia and Europe, adopts the concept of “appropriate technology” for its inclusive program. The program aims to provide technological aid to developing Asian countries, which will help raise their und
Dec. 16, 2012
-
Research: Tiny robots may think as a group
A U.S. researcher says a swarm of tiny robots could be a better solution to accomplishing tasks than one big one and has made "ping-pong" ball-sized examples.University of Colorado at Boulder computer scientist Nikolaus Correll and his research team have developed a basic robotic "building block" which they hope to reproduce in large quantities to develop increasingly complex systems, the university reported Friday.They've created a swarm of 20 robots, each the size of a Ping Pong ball, which th
TechnologyDec. 16, 2012
-
Lottery sales exceed gov't cap for 2nd year
Lottery sales in South Korea surpassed an annual government-set limit for the second straight year as more people bought tickets amid an economic recession, data showed Sunday. Sales of lottery tickets totaled 2.91 trillion won ($2.71 billion) in the January-November period, exceeding the 2.87 trillion won ceiling recommended by the National Gambling Control Commission (NGCC), according to the data by government agencies. If the trend continues, this year's lottery sales are expected to s
Dec. 16, 2012
-
Samsung tablet market share doubles in Q3
Samsung Electronics Co. saw its market share in the tablet PC market nearly double in the third quarter from three months earlier as it moved to catch up with rival Apple Inc., data showed Sunday. The South Korean tech giant's global market share reached 18.1 percent in the July-September period, compared with 9.2 percent in the previous quarter, according to the data by research firm Strategy Analytics. Meanwhile, Apple's market share fell to 52.9 percent from 68.4 percent, narrowing the
TechnologyDec. 16, 2012
-
Wine sales outrun soju shipments for first time
Sales of wine at local discount chains outstripped those of soju for the first time, data showed Sunday, mirroring a changing trend in South Korea's drinking culture. Wine sales surpassed those of the local alcoholic drink by 4.6 percent this year, according to the data by Lotte Mart, a discount chain arm of retail giant Lotte. Last year, sales of wine lagged behind those of soju by roughly 6 percent. Wine sales stood at around 25 percent of soju sales in the first half in the early 2000s, b
IndustryDec. 16, 2012
-
SMEs' 2013 growth forecast hits lowest mark since 2008
South Korea's small and medium-sized enterprises (SMEs) forecast the country's economic growth to reach a record low next year since the 2008 financial crisis, a poll showed Saturday. According to a survey of 1,500 SMEs taken by the Korea Federation of Small and Medium Business (Kbiz), a majority of the companies polled predicted South Korea's economy will grow 2.9 percent in 2013, the lowest level since their 2009 prediction of 2.4 percent. Nearly 70 percent of the respondents regarded advanced
IndustryDec. 15, 2012
-
Black boxes on cabs reduce accidents: data
Taxis run by companies caused fewer car accidents after most of them installed black boxes, while a bill that requires all vehicles to be equipped with black boxes awaits parliamentary approval.The number of accidents involving company-run cabs fell 17.7 percent from 2007 to 20,331 last year, when most cabs were equipped with black boxes, according to the General Insurance Association of Korea and the Korea Transportation Institute.Starting with Incheon in 2008, local governments had black boxes
IndustryDec. 14, 2012
-
Mexican firm sues SK E&C, Siemens over refinery project
Petroleos Mexicanos, Mexico’s state- owned oil company, filed a $1.5 billion lawsuit against Siemens AG and South Korea-based SK Engineering & Construction Co., claiming the companies bribed Pemex officials to win and keep refinery construction projects.Siemens, which in 2008 paid $1.6 billion to settle a bribery investigation by the U.S. Securities and Exchange Commission, conspired with SK Engineering and a joint venture partner to bribe Pemex officials while bidding on a refinery modernizatio
Dec. 14, 2012
-
Korea’s total debt almost triple GDP
Debts of households, companies and the government in Korea in the third quarter amounted to nearly triple the country’s GDP last year, data showed Friday.The financial liabilities of households, nonprofit organizations, non-financial companies and the government stood at 3.59 quadrillion won ($3.34 trillion) in the three months to September, up 49.2 trillion won from the previous quarter, according to the Bank of Korea data.This is about 2.9 times the nation’s GDP last year of 1.24 quadrillion w
Dec. 14, 2012
-
Shares down on U.S. fiscal cliff woes
South Korean stocks closed 0.39 percent lower on Friday as investor sentiment was dented by the stalled U.S. fiscal cliff talks, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 7.73 points to 1,995.04. Trading volume was light at 345.1 million shares worth 4.24 trillion won ($3.95 billion), with decliners outnumbering gainers 407 to 380.“Local shares edged down as investors were still concerned about the U.S. fiscal cliff iss
Dec. 14, 2012
-
Samsung’s financial arms cut jobs on slump
Key financial affiliates of South Korea’s No. 1 conglomerate Samsung Group have eliminated hundreds of jobs via voluntary retirement programs as part of efforts to cut costs amid a prolonged economic slowdown, industry sources said Friday.Samsung Fire & Marine Insurance Co., the country’s top non-life insurer, has recently implemented a voluntary retirement program and dismissed around 150 workers. Samsung Fire has enforced the program annually since 2009, according to the sources.The move comes
Dec. 14, 2012
-
Hyundai denies double-digit global share
Hyundai-Kia on Friday denied a report that the two affiliate carmakers achieved a two-digit global market share for the first time last month.Citing LMC Automotive’s data, Korea Investment & Securities analyst Suh Sung-moon said Hyundai Motor and affiliate Kia Motors together reached a global market share of 10.1 percent last month.Hyundai Motor spokesman Lee Dong-hyung said, however, that the figure 10.1 percent was inaccurate as it was made based on LMC’s estimate of retail auto sales worldwid
IndustryDec. 14, 2012
-
Unification Church to transfer automaking unit to N.K.
The Unification Church in South Korea will transfer control of its ailing automaking business in Pyongyang to North Korea, and may tap into the country’s special economic zone, according to a media report on Friday.Pyeonghwa Motors’ President Park Sang-kwon said the joint auto venture between the religious group and the North will be taken over by the North, according to the report by Voice of America.“We transfer the right to them to practically run (the firm),” Park was quoted as saying in the
Dec. 14, 2012
-
Apple fails to persuade U.S. federal judge on Samsung patents
Apple Inc. has failed to persuade a federal judge to rule that two of Samsung Electronics Co.’s patents are unenforceable, in what was the latest development in the patent litigation between the world’s top two electronics manufacturers.U.S. District Judge Lucy Koh in San Jose, California, said that she would not consider Apple’s arguments about the patents from Samsung because a jury has already ruled in favor of the California-based company, according to news reports on Friday. In August, a ju
IndustryDec. 14, 2012
-
LG defeats Alcatel-Lucent patent claims
Apple Inc. and LG Electronics Inc. did not infringe an Alcatel-Lucent SA unit’s patents for electronic devices including phones and computers, a jury said.The verdict Thursday came after a trial that began Nov. 27 in federal court in San Diego over a 2010 lawsuit by the Paris- based company’s Multimedia Patent Trust accusing Apple and LG Electronics of copying video-compression technology that allows data to be sent more efficiently over communications media, including the Internet and satellite
TechnologyDec. 14, 2012
-
Distant ‘binge-eating’ black hole observed
The X-ray jet streaming from a binge-eating black hole in the nearby galaxy of Andromeda has been detected, U.S. and European astronomers say.Classified as an ultraluminous X-ray source or ULX, the object is only the second ever seen in Andromeda, also known as M31, and was the target of an intense observing campaign by orbiting X-ray telescopes and radio observatories on the ground, NASA reported Wednesday.Astronomers say they believe a ULX is a binary system containing a black hole that is rap
TechnologyDec. 14, 2012