Most Popular
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
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Korea posts trade surplus of $2.12 billion in April
South Korea’s trade balance remained in the black for the third straight month in April despite minus growth in both exports and imports, a customs office report showed Tuesday.According to the report by the Korea Customs Service, South Korea’s trade surplus amounted to $2.12 billion last month, down from a favorable balance of $2.37 billion tallied in March.The monthly figure was slightly smaller than the surplus of $2.15 billion projected by the Ministry of Knowledge Economy for April earlier
May 15, 2012
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National Pension to seek larger Chinese investment quota
South Korea’s National Pension Service, the country’s biggest investor, plans to seek approval to buy more yuan-denominated Chinese stocks after using up the initial quota of $100 million it received in March. The $316 billion pension fund plans to use that allotment by September and will pick two managers “soon” to handle the investments, Chairman Jun Kwang-woo said in an interview in Seoul on Monday. The fund also aims to expand investments to Chinese bonds and so-called alternative investment
May 15, 2012
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Korea may have to stop Iran oil imports
The Seoul government is bracing for a possible halt in imports of Iranian crude oil following tightened sanctions by the European Union.The EU enacted rules in March to stop insurance coverage on all tankers carrying Iranian crude oil starting July 1 as part of sanctions on the Middle Eastern country to make it give up its nuclear program. The Korean government belatedly found out about the measure and only recently began pushing for negotiations with the EU to extend the insurance coverage.Crud
IndustryMay 15, 2012
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World IT Show kicks off in Seoul
Four-day event features high-tech products, solutionsThe World IT Show 2012 kicked off on Tuesday, with the advanced technology products unveiled ranging from the latest OLED television and smartphones to online games and fourth generation network solutions.Participated in by local and global IT firms such as Samsung and LG Electronics, SK Telecom, KT, Nokia Siemens and Qualcomm, the IT show will be held for four days at the COEX Convention Center in southern Seoul.The event is jointly organized
IndustryMay 15, 2012
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Samsung SNS to recruit interns
Samsung Network Services & Solutions, a Korean network systems developer, plans to hire interns by June this year.The company said in a press release on Tuesday that its five divisions including telecom networks, overseas sales and marketing and human resources will accept applicants until May 24 via its homepage.University students in their junior or senior years, or those expected to graduate in February 2014, can apply for Samsung SNS’ internship programs headed by the five divisions. Graduat
TechnologyMay 15, 2012
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Hyundai Motor to hire Japanese educated Koreans
Hyundai Motor Co. announced on Tuesday that it will host an academic research forum in Tokyo on June 15 as a way to recruit outstanding Korean talent with an education received in Japan. The country’s leading automaker said that the research forum is organized to boost Hyundai Motor’s global strength. The forum is an exclusive channel to recruit applicants with degrees from Japan, the company said. “We believe that graduate and doctorate students from Japanese universities have strength in both
IndustryMay 15, 2012
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More foreign CEOs in car market
More non-Korean chiefs arrive in Korea as import auto market heats upAs Korea’s import car market grows, global automakers are increasingly opting for foreign chief executives for their Korean units.When the Korea Automobile Importers and Distributors Association was established 17 years ago, the import car sector had only one foreign CEO.Of the 16 member firms of KAIDA, seven now have foreign CEOs. They are Mercedes-Benz, Audi, Chrysler, Jaguar/Land Rover, Stuttgart Sports Cars (or Porsche Kor
MobilityMay 15, 2012
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Governor eyes more cuts as California deficit swells
SACRAMENTO, California (AP) ― California’s sputtering economic recovery is putting a heavier-than-expected drag on state tax revenue, leading Gov. Jerry Brown on Monday to propose deep budget cuts across an array of government services and warn again that even more cuts are ahead if voters reject his tax-hike initiative in November. Brown’s latest budget plan for the fiscal year that begins July 1 proposes $8.3 billion in spending cuts to close a revised deficit of $15.7 billion deficit, an amou
May 15, 2012
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Spain urges Greece to form government fast
MADRID (AP) ― Spain got caught up in the uncertainty surrounding the European single currency and the electoral stalemate in Greece Monday as it saw its borrowing costs rise and stock prices fall at alarming rates.The country’s foreign minister issued an urgent appeal Monday to the rival political parties in Athens to form a government quickly and warned that the survival of the single currency project was at stake.“The best thing Greece can do for its own survival and for the survival of Europe
May 15, 2012
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Instant high-rise: Up-and-ready in just 9 days
The Bible says God build the world in seven days. Humans may not be able to duplicate the feat, but throw in a couple more days, and they just might manage to raise a building.Chinese builders have built a three-story building from scratch in a little more than nine days, BBC reported Monday.The pioneering techniques of the Broad Sustainable Building requires workers merely to put together prefabricated modules.“Once all the materials are on site, all we have to do is attach them,” said Deng Yic
IndustryMay 15, 2012
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Lee: World Expo to make host city Yeosu global tourist attraction
Malaysian traditional performance is underway at the Yeosu Expo on Monday, May 13, 2012. (Yonhap)South Korean President Lee Myung-bak said Monday he believes the World Expo under way in the southwestern port city of Yeosu will help promote the host city as one of the world’s best tourist destinations.The 93-day fair opened Saturday, involving 104 countries, 10 international organizations and numer
May 15, 2012
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Facebook IPO to bring cash and change
Facebook makes its hotly anticipated stock market debut this week in a history-making move promising wealth for insiders and change for users of the online social network.Hot interest in Facebook stock reportedly prompted the company to bump the opening price range to $34 to $38 for its shares, which would value the firm at between $93 billion and $104 billion. The Facebook campus is shown in Menl
IndustryMay 15, 2012
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Diablo 3 gets explosive response from S. Korean gamers
Diablo 3, the highly anticipated sequel to Blizzard Entertainment’s popular selling series, is drawing a massive response from South Korean gamers upon its release Tuesday.Immediately after its release at midnight, gamers sought to buy the coveted game en masse. The rapid increase in users caused several online shopping sites to shut down.“I’ve been clicking like mad since 8 a.m., using two comput
TechnologyMay 15, 2012
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Apple said to prepare thinner Mac laptops sporting Intel chips
Apple Inc. is preparing a new lineup of thinner MacBook laptops running on more powerful chips made by Intel Corp., people with knowledge of the plans said.The MacBook Pro machines, to be unveiled at Apple’s annual developers conference starting June 11, also will feature high-definition screens like those on the iPhone and iPad, as well as flash memory to cut startup times and extend battery life
TechnologyMay 15, 2012
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Lego tower reaches 104 feet, 8 inches tall
Lego officials in South Korea announced the crown prince of Denmark placed the final brick on the world's largest Lego tower, measuring 104 feet, 8 inches tall. (Lego Korea)Lego Korea said the tower, which was built in Seoul during the weekend by 4,000 young contest winners, was planned to mark the 80th anniversary of the Lego group.The final brick was placed Sunday to defeat the previous world re
IndustryMay 15, 2012
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Korea to invest W513b in nanotech research
The government announced on Monday that it would invest 513 billion won ($446 million) in the research and development of nano-technology by 2020. The investment is part of its “Nano 2020,” project aimed at becoming one of the world’s top three nano-technology powerhouses, according to the Ministry of Education, Science and Technology.The Ministry said the country would focus on developing core technologies including those integrated with environmental and IT technologies. The ministry will set
TechnologyMay 14, 2012
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Trade terms fall to over 3-year low in Q1
South Korea’s terms of trade worsened to the lowest level in over three years in the first quarter as high crude and commodities prices hiked import costs, the central bank said Monday.The country’s net terms-of-trade index for goods came in at 75.1 in the January-March period, down 6.4 percent from a year earlier, the Bank of Korea said in a report. The number also equals the terms of trade index tallied in the fourth quarter of 2008.The index is calculated by dividing the export price index by
May 14, 2012
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Korea Auto Parts Park opens in Detroit
Korea Auto Parts Park in Detroit was launched Monday to help Korean firms settle in the U.S. city.The opening ceremony was organized by Korea’s Commerce Ministry and the state-run Korea Trade Investment Promotion Agency.KAPP provides offices with presentation devices and conference rooms. “It takes a long time for small and medium auto part companies to win business contracts from global carmakers. That is when the local offices are needed,” KOTRA’s vice president Oh Sung-keun said. “KAPP will g
MobilityMay 14, 2012
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Nation’s technological edge gives social media a Korean twist
If you spot a dangerously rattling manhole cover on a street, think English translations should be extended to subway announcements, or need some tips on important life decisions, where would you turn for help?For Seoulites, the quickest help may come from the city mayor via Twitter.Seoul Mayor Park Won-soon, who took office in October with strong support from younger generations, checks and replies to his Twitter posts past midnight and throughout the weekend. Some issues are as practical and p
TechnologyMay 14, 2012
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Ministers to discuss ‘connectivity’ in Seoul meet
The Korea Communications Commission said Monday that a ministerial-level meeting on broadcast and telecommunications will be held at the COEX Convention Center in southern Seoul on Tuesday.Organized for the eighth consecutive year, this year’s meeting will focus on “connectivity,” according to KCC officials. The meeting will be taken part by ministers from 17 countries including Laos, Vietnam, New Zealand, Australia, Venezuela, South Africa and South Korea.Ministers from Australia, Rwanda, Indon
May 14, 2012