Most Popular
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Weekender] How DDP emerged as an icon of Seoul
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Today’s K-pop] NewJeans' single teasers release amid intrigue
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LG Display China factory workers end strike
LG Display Co., the world's second-largest display maker, said Thursday that workers at a factory it owns in China have ended a strike and will return to work soon. On Monday, some thousands of workers went on strike at LG Display's factory in the eastern Chinese city of Nanjing, asking for an
IndustryDec. 29, 2011
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Oklahoma baby is 3rd sickened by rare bacteria
ATLANTA (AP) — An Oklahoma baby is the third infant this month sickened by a rare type of bacteria sometimes associated with tainted powdered infant formula.The child, from Tulsa County, was infected with Cronobacter sakazakii but fully recovered, health officials said Wednesday. An Illinois c
TechnologyDec. 29, 2011
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Korean industrial output grows 5.6 percent in Nov
South Korea's industrial output growth slowed in November, stoking worries that the nation's economy is losing steam due to rising global uncertainties, a government report showed Thursday.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 5.6
Dec. 29, 2011
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Korean current account surplus hits 13-month high
South Korea's current account surplus rose to its highest level in 13 months in November as exports of petrochemical goods and cars remained firm, the central bank said Thursday.The current account surplus reached US$5.05 billion in November, up from a revised $4.13 billion the previous month, accor
Dec. 29, 2011
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SK vice chairman arrested on embezzlement charges
SEOUL, Dec. 29 (Yonhap) -- A Seoul court issued an arrest warrant for SK Group's vice chairman on Thursday on charges of embezzling a massive amount of group funds, possibly in collusion with his elder brother. SK vice chairman Chey Jae-won (Yonhap News)The Seoul Central District Court issued t
IndustryDec. 29, 2011
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Subway pass available for foreign tourists
The government said it began issuing special subway passes on Wednesday for foreign tourists in efforts to facilitate their use of public transportation.With the new services, travelers can buy passes available for a certain period of time ― one, two, three, five or seven days ― at tourism information centers at Incheon airport. Prices range from 10,000 won ($8.60) for a one-day ticket to 59,500 won for week-long use, plus a 5,000 won refundable deposit. Each of the passes is limited to 20 rides
IndustryDec. 28, 2011
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Hyundai Motor to establish research center at Hanyang Univ.
Hyundai Motor Group will establish an automotive research institute at the Seoul campus of Hanyang University.The business group said Wednesday that it has signed a contract with the university to build a research center for developing futuristic cars.The two sides will break ground for the establishment of the center during the first half of 2012, Hyundai Motor said in a statement.By offering students and researchers high-end facilities, the two sides hope to foster specialists to take on core
MobilityDec. 28, 2011
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Pricing may be key to IKEA’s success in Korea
World’s top home furnishing maker moves to open first store here in about 2 yearsThe eagerly awaited opening of an IKEA store on the outskirts of Seoul has many consumers excited but apprehensive about pricing, and domestic rivals bracing for tight competition. The Swedish home furnishing giant said Tuesday it bought a site in Gwangmyeong, a satellite city southwest of Seoul, for its first store in Korea.The store is expected to open in about two years on the 78,198 square-meter site near Gwangm
IndustryDec. 28, 2011
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LG joins hands with Walt Disney for 3-D content
LG Electronics said Wednesday it signed an agreement with Walt Disney Co. on Wednesday to use the firm’s 3-D content for TV viewers in Seoul.The local electronics company said the 3-D version of “The Lion King,” expected to be released here on Thursday, will also be featured for LG’s 3-D Smart TV simultaneously. Other Disney animated films like “Toy Story,” “Toy Story 2,” “Bolt” and “The Nightmare before Christmas” will also be shown as 3-D content for the company’s smart TV. They will be availa
IndustryDec. 28, 2011
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Korea’s real wages fall this year on high inflation
Korea’s inflation-adjusted average wage declined this year as income grew at a slower pace than in 2010, while inflation rose sharply, data showed Wednesday.Korean worker’s real wage averaged 2.72 million won ($2,350) in the January-September period, down 3.49 percent from a year earlier, according to calculations based on data from the central bank, the labor ministry and the state-run statistics agency. Last year, the real wage grew 3.8 percent as the economy expanded 6.2 percent.The real wage
Dec. 28, 2011
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Seoul shares drop 0.92% on high-dividend shares
South Korean stocks finished 0.92 percent lower Wednesday as investors cut high-dividend shares on the expiry of their dividends, analysts said. The local currency climbed against the U.S. dollar.The benchmark KOSPI dropped 16.9 points to 1,825.12, extending a losing streak to a third session. Trading volume was moderate at 374 million shares worth 3.26 trillion won ($2.81 billion) with losers leading gainers 499 to 317.“Institutional investors were net sellers and high-dividend shares, such as
Dec. 28, 2011
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Korea’s economy at risk of destabilizing factors: minister
Korea needs to stay vigilant against any developments next year as its economy is expected to face many “destabilizing factors” that could weigh on its recovery and growth, the nation’s top economic policymaker said Wednesday.“Economic conditions at home and abroad are expected to be tough next year at a time when the eurozone fiscal debt crisis, major elections and North Korea variables remain in place as destabilizing factors,” Finance Minister Bahk Jae-wan said during a crisis management meet
Dec. 28, 2011
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Taekwang Industrial to produce carbon fiber
Taekwang Industrial Co., a South Korean chemical fiber company, said Wednesday that it will begin commercial production of carbon fiber starting in March of next year for the first time in South Korea.The company developed the polyacrylonitrile-based carbon fiber in 2009 and has commenced construction for the high-end material in the Ulsan industrial complex on the southeastern coast of the country.The plant will start commercial operation in March next year with an annual capacity of 1,500 tons
IndustryDec. 28, 2011
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Dream Pharma works on superbug treatment
Dream Pharma Corp., a Korean drug maker, will develop new treatment for superbugs to cater to soaring demand for drugs against the fatal bacteria.The Hanwha-affiliate said Wednesday it clinched a deal with LegoChem Biosciences Inc. for joint research and commercialization of the bioventure’s novel product.The drug candidate known as LCB01-0371 has been proven superior to Pfizer Inc. Zyvox in treating superbugs, which are resistant to nearly all existing antibiotics, Dream Pharma said.Clinical tr
IndustryDec. 28, 2011
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Brokerages see possible Jan. upturn
Korean brokerages said Wednesday the local stock market is likely to gain in January helped by renewed optimism over the U.S. and Chinese economy. “Expectations are building upon the possibility that the U.S. economy would manage to pull off sustainable growth next year,” said Hong Soon-pyo, analyst Daishin Securities. Despite the gloomy factors that plagued investors this year, the U.S. market is poised to benefit from improved manufacturing indicators, better outlooks for jobs and the housing
Dec. 28, 2011
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Korea bracing for fiercer competition under FTAs
South Korea will likely face a markedly changed business environment next year as it is poised to enforce a long-standing free trade agreement with the U.S. that would open up its market and eventually lead to gloves-off competition down the road.The country signed the deal, known as the KORUS FTA, in 2007 but had to wait for years until late November for parliamentary approval due to objections from opposition lawmakers and civic groups. The U.S. Congress approved the pact in October, paving th
Dec. 28, 2011
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‘BlackBerry won’t lose out in Korean market’
RIM Korea aims to continue this year’s sales momentum to strengthen presence here A growing number of Koreans may be tiring of the fierce rivalry between Samsung Electronics’ Galaxy and Apple’s iPhone here. Amid the cutthroat competition to dominate the small but crucial Korean market, Research In Motion enjoyed a boom in its BlackBerry sales this year. "Korean customers are very smart and demanding. They look for something special and distinctive and with BlackBerry they would get that," Norm L
IndustryDec. 28, 2011
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Foreign firms say they too help those in need
In this time of giving, not only Korean conglomerates, but also some foreign companies and their chambers here are eager to engage in charitable activities.Countering the local media’s criticism of their “lackluster giving,” members of the foreign business community said they do help those in need.“We do a lot of charitable activities but we don’t receive a lot attention, and then we get a lot of criticism that companies are not giving back, which is not true,” said American Chamber of Commerce
Dec. 28, 2011
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Strike may hit LG Display-Apple ties
But LG Display sees little impact of China factory strike on supply of display panels for iPad 3Concerns are rising that the strike at LG Display’s factory in China may deal a blow to its supply of LCD panels to Apple if the labor dispute is prolonged, industry sources said on Wednesday.About 8,000 Chinese workers at the company’s Nanjing plant have been staging a strike, demanding fair incomes compared to their Korean colleagues, as well as year-end incentives.The strikers attempted to engage i
IndustryDec. 28, 2011
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Study points to origin of syphilis
ATLANTA, Dec. 20 (UPI) -- A study has confirmed syphilis did not exist in Europe before Columbus made his 1492 voyage, and it came back with his crew, researchers say.Anthropologists at Emory University say they re-analyzed European skeletons that some previous researchers said proved syphilis exist
TechnologyDec. 28, 2011