Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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STX OSV wins order for fish feed carrier
STX OSV Holdings Ltd., a European unit of South Korean shipbuilding conglomerate STX Group, has clinched a 40 billion won ($33.6 million) deal to build a fish feed carrier, the group said Monday.Under the deal with Eidsvaag AS, STX OSV will deliver the vessel by the second quarter of 2013, the company said in a statement.The vessel, 75 meters long and 13.6 meters wide, will be used to deliver fish feed to fish farms and operate for Skretting AS, the world leader in the production and supply of f
TechnologyDec. 26, 2011
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Korea to help stem FMD in Southeast Asia
South Korea will spend $2.61 million in the next four years to help fight foot-and-mouth disease in Southeast Asian countries, a main source of the disease that affects hoofed animals, including cows and pigs, the government said Monday.Under a joint prevention program with the United Nations Food and Agriculture Organization, the money will help set up disease prevention and control systems in Vietnam, Laos and Cambodia, according to the Ministry of Food, Agriculture, Forestry and Fisheries.The
TechnologyDec. 26, 2011
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Automatic skin-making machine might mean end to animal testing
Scientists at Germany's Fraunhofer Society research organization have developed a machine that makes artificial skin fully automatically.If it receives approval from the relevant control bodies in Europe it could make animal testing in laboratories obsolete.The machine is seven meters long, three me
TechnologyDec. 26, 2011
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Automatic skin-making machine might mean end to animal testing
Stuttgart (dpa) - Scientists at Germany's Fraunhofer Societyresearch organisation have developed a machine that makes artificialskin fully automatically.If it receives approval from the relevant control bodies in Europeit could make animal testing in laboratories obsolete.The machine is seven metres
TechnologyDec. 26, 2011
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Korean firms in China fare worse this year: poll
South Korean companies operating in China registered worse performances in 2011 than a year ago due to sluggish exports and fiercer competition in the world’s No. 2 economy, a poll said Monday.According to the survey by the Korea Chamber of Commerce and Industry, 44.5 percent of 201 Korean firms operating in China said their sales this year rose 5 percent or higher from a year ago.Last year, 61.8 percent of surveyed companies responded that their sales had climbed 10 percent or more on-year.Acco
Dec. 26, 2011
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Cargo at seaports slips 0.6% in Nov.
The amount of cargo processed at South Korea’s seaports declined 0.6 percent on-year in November due to a large drop in domestic cargo, the government said Monday.The volume of cargo handled at the country‘s seaports came to 107.3 million tons last month, compared with 108 million tons processed in the same period last year, according to the Ministry of Land, Transport and Maritime Affairs. The November figure also marks a significant drop from 112.89 million tons processed a month earlier.The a
Dec. 26, 2011
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Korea eyes $2.5 bln in 2012 fisheries exports
South Korea will seek to sharply increase its goal for fisheries exports in 2012 as overseas demand for them continues to rise, the government said Sunday.The government is targeting fisheries exports of $2.5 billion for the coming year, up from an estimated $2.2 billion for this year, according to the Ministry of Food, Agriculture, Forestry and Fisheries.The ministry had originally planned to achieve the $2.5 billion mark of fisheries exports by 2014.The ministry said it has established a task
Dec. 26, 2011
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Bond market for small firms to open next year
Korea will set up a new trading system for bonds issued by smaller firms in May next year in a bid to help them raise funds, a trade association said Monday.The envisioned electronic over-the-counter trading system will deal with debts sold by unlisted local small and medium enterprises with total assets below 500 billion won ($436 million), according to the Korea Financial Investment Association.Their debts will only be sold to “qualified institutional buyers,” or those deemed capable of suffic
Dec. 26, 2011
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Banks’ profits to slip next year: report
Korea’s major banks are expected to see their net profits slip next year amid external uncertainties and tightened regulations, data showed Monday.The combined net income of the country’s four major banking groups, including Woori Finance Holdings Co. and KB Financial Group Inc., are forecast to fall 6.62 percent on-year to 8.89 trillion won ($7.74 billion), according to 20 analysts consulted by Seoul-based financial information provider FnGuide.Top player Woori Finance is likely to post the ste
Dec. 26, 2011
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Sales of Kia’s K2 subcompact car hit record high in China
Kia Motors Corp., South Korea’s second-largest automaker, said Monday that sales of its K2 subcompact vehicle reached a record high in China last month, driven by rising demand there.The K2, also known as the Rio in the U.S. and European markets, hit showrooms in China in July and has proven a big hit, with sales exceeding the 10,000 mark in September. Sales of K2 models in China reached 11,327 units and 12,790 units in October and November, respectively, Kia Motors said.The company attributed t
MobilityDec. 26, 2011
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LG Hausys moves to become global leader
Firm promotes localization efforts for markets in the U.S., China and RussiaLG Hausys, the country’s top building and decorative materials company, said Monday it is striving to position itself as a top global player through its localization efforts in overseas markets.The firm said that it is concentrating on securing dominant position in nearby markets, such as China, by announcing the construction of a new manufacturing plant in Wuxi, Jiangsu Province in September. Through its investment of $
IndustryDec. 26, 2011
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Streamlining wave hits financial sector
Banks, brokerages, insurance firms carry out early retirement plans to cut costsKorea’s financial sector is headed for a fresh round of restructuring, with major banks pushing employees to opt for early retirement plans amid growing worries over the lackluster earnings outlook.Domestic banks, brokerages and insurance firms are taking steps to reduce their workforces as they brace for lower earnings due to the stronger regulatory supervision including a cut in commission fees and the uncertaintie
Dec. 26, 2011
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Doosan rolls out social contribution programs
Doosan Group has rolled out a slew of social contribution programs ranging from sponsorship of artists to medical services and disaster aid matching its growing global presence.A team in charge of social contributions was set up last year under Doosan Corporation, the conglomerate’s holding company, to systematically realize Doosan Group’s management philosophy of “sharing dreams and hopes with society.”The team coordinates affiliate companies’ social contribution activities and develops unique
IndustryDec. 26, 2011
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Creditors demand Kumho Petrochemical sell stake in Asiana
Creditors demanded Kumho Petrochemical sell off its stake in Asiana Airlines to facilitate the petrochemical company’s separation from Kumho Asiana Group.“We urged Kumho Petrochemical to dispose of some 14 million shares it holds in Asiana Airlines to meet the requirements for its separation from Kumho Asiana Group,” an official at one of the creditors said Monday. For this, the creditors decided to remove the collateral on the 7.72 percent of the airliner’s common stocks, or some 14.13 million
IndustryDec. 26, 2011
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New nuclear plants face public backlash
Civic groups, environmentalists, residents stage protests, voicing safety concerns The government’s plan to install new nuclear reactors in the country’s eastern shore faces stiff opposition from residents, stoking safety concerns in the aftermath of a Japanese disaster.Last week, the government picked two candidate sites for nuclear power plants --Yeongdeok in North Gyeongsang Province and Samcheok in Gangwon Province. The decision will be finalized by late next year after on-site inspections a
IndustryDec. 26, 2011
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FSC puts reins on credit cards to curb debt
New rules include imposition of age, income limit on customersKorea’s financial regulators said on Monday they would toughen qualifications for credit card issuance as part of efforts to stem excessive spending through plastic. The Financial Services Commission unveiled plans for the new credit card issuance guidelines and other measures aimed at reining in fast-rising credit card spending and ballooning household debt at a time when the country’s economy braces for an extended slowdown due to
Dec. 26, 2011
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Seoul shares drop on institutional selling
Korean stocks finished 0.56 percent lower on Monday as uncertainties about Europe overshadowed upbeat U.S. data, prompting institutional sell-offs, analysts said.The local currency fell against the U.S. dollar. After opening briefly higher, the benchmark KOSPI dropped 10.52 points to 1,856.70. Trading volume was moderate at 424 million shares worth 2.97 trillion won ($2.58 billion) with losers outpacing gainers 448 to 357. “Investors are not paying much attention to past economic data as they ar
Dec. 26, 2011
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Seoul shares end 0.56% down on institutional selling
South Korean stocks finished 0.56 percent lower on Monday as uncertainties about Europe overshadowed upbeat U.S. data, prompting institutional sell-offs, analysts said.The local currency fell against the U.S. dollar.After opening briefly higher, the benchmark KOSPI dropped 10.52 points to 1,856.70. Trading volume was moderate at 424 million shares worth 2.97 trillion won ($2.58 billion) with losers outpacing gainers 448 to 357.“Investors are not paying much attention to past economic data as the
Dec. 26, 2011
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KT to start long-awaited LTE service from next week
By Lee Ji-yoonKT Corp, the nation’s second-largest telecom operator, plans to start its long-awaited Long Term Evolution service from next week after a Seoul court gave it the green light on Monday to ditch its feature phone service.According to KT, it will shut down the second-generation network service in phases, first in Seoul at 10 a.m. on Jan. 3, starting faster LTE service straight away on that day. The Seoul High Court on Monday overturned a lower court ruling in favor of some 900 users w
IndustryDec. 26, 2011
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Earth has two moons now
The Earth has always had a second moon, new study has claimed. When astronomers in Arizona found a mysterious titanium white object orbiting the Earth in the fall of 2006, it looked like a spent rocket stage The full moon rises behind the ancient temple of Posseidon, in Sounio about 73 kilomet
TechnologyDec. 26, 2011