Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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KOMIPO expands overseas power plant projects
This is the second in a series of case studies on the nation’s leading state-run companies which have made success stories overseas. ― Ed.The Korea Midland Power Co., or KOMIPO, has big plans, seeking to emerge as a global brand for power generation by 2020.“I am confident that the successful launch of a power plant in the fast-growing Indonesian power generation market last year will lay the foundations for the company’s drive for overseas expansion,” KOMIPO CEO Choi Pyeong-rak told The Korea H
Jan. 29, 2013
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Peugeot-Citroen importer pounds German rivals
The president of Hanbul Motors, the Korean importer of Peugeot and Citroen brands, on Tuesday harshly criticized the heated dealer competition among import carmakers, especially the top sellers BMW and Mercedes-Benz.“Strong sales would satisfy their foreign headquarters. But their excessive sales activities are led to consumer damages,” Hanbul Motors president Song Seung-cheol said when asked about the French carmaker’s sluggish sales in Korea during the launching event of the Citroen DS5. “Almo
IndustryJan. 29, 2013
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Adults spend 5 years worrying: study
People spend several years of their life worrying about all sorts of things, which could lead to harmful health effects, a British health group said. According to a survey conducted by Benenden Health, a British health organization, adults spend five years of their life on average worrying about day-to-day issues. Adults’ concerns usually involve weight problems, finances and job security. Being overweight, getting old, having a lack of savings and staying fit were the top four worries on the li
TechnologyJan. 29, 2013
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Vine video porn posts exposed
Twitter's iPhone video-snippet sharing service Vine had concerns about porn exposed on Monday after adult content was bared briefly in an "Editor's Picks" section.Twitter apologized for the mistake, blaming "human error" but providing little detail, and quickly removed the video.The globally popular one-to-many message sharing service last week launched Vine, a service that lets people share video snippets from iPhones or iPod touch devices.Perpetually looping video clips up to six seconds each
TechnologyJan. 29, 2013
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POSCO's net profit dips 36 pct in 2012
POSCO, South Korea's leading steelmaker, said Tuesday that its earnings sank 36 percent last year from a year earlier on weak demand and increased costs.Net profit reached 2.39 trillion won (US$2.17 billion) on a consolidated basis last year, compared with a profit of 3.71 billion won a year earlier, the company said.Sales slipped 7.7 percent on-year to 63.6 trillion won, and operating income also dropped 33.2 percent to 3.65 trillion won over the cited period, it said.Shares of POSCO closed at
Jan. 29, 2013
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Seoul shares up 0.84 pct on tech, auto gains
South Korean stocks ended 0.84 percent higher on Tuesday, as automakers and technology firms rebounded from their recent slides, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 16.25 points to 1,955.96, snapping four straight sessions of losses. Trading volume was moderate at 459 million shares worth 4.57 trillion won (US$4.21 billion), with gainers outnumbering decliners 440 to 350. "The KOSPI's recent drops stoked i
Jan. 29, 2013
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Smoking addiction linked to brain’s self-control
Smokers’ craving for cigarettes is directly linked to brain’s self-control circuitry, a study showed Monday.A research team studied the relationship between the changes in brain activities and the level of craving for a cigarette after participants watched a neutral video and a video of people smoking. Before the experiment, some respondents were told that smoking would be allowed after watching the video, while others were told to wait 4 hours to smoke after the experiment was over. Scanning th
TechnologyJan. 29, 2013
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Parents paying tuition linked to lower GPA
U.S. college students who get their education paid for by parents may not study as hard, but they have better odds of graduating, a researcher says.Laura T. Hamilton, a sociology professor at the University of California, Merced, found students‘ GPAs decreased with increased financial support from their parents.However, the study also found students with financial aid from their parents were more likely to complete college and earn a degree.“Students with parental support are best described as s
TechnologyJan. 29, 2013
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Text app said violating privacy laws
WhatsApp, which allows text messaging over the Internet without incurring SMS messaging charges, violates Canadian and Dutch privacy laws, officials say.Canada’s privacy watchdog, in a joint investigation with Dutch authorities, determined the popular mobile messaging app breaches Canadian and Dutch privacy laws by forcing many of its users to grant access to their entire address book to use it, Canadian Broadcasting Corp. News reported Monday.“The address book contains phone numbers of both [Wh
TechnologyJan. 29, 2013
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Seoul shares up 0.82 pct in late-morning trade
South Korean stocks traded 0.82 percent higher late Tuesday morning, buoyed by gains in automakers and technology firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 16 points to 1,955.71 as of 11:20 a.m.Market bellwether Samsung Electronics rose 2.41 percent and top automaker Hyundai Motor surged 5.04 percent.In contrast, POSCO slipped 0.84 percent ahead of its fourth-quarter earnings release scheduled for later in the day. The local currency was trading hands at
Jan. 29, 2013
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Seoul shares open higher as exporters rebound
South Korean stocks began higher on Tuesday as key exporters returned to positive territory after recent losses, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.55 points, or 0.39 percent, to 1,947.26 in the first 15 minutes of trading.Market bellwether Samsung Electronics rose 1.38 percent, poised to stem a four-session losing streak, while top automaker Hyundai Motor gained 1.26 percent.The local currency was trading at 1,088.6 won to the U.S. dollar as of 9:15
Jan. 29, 2013
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S. Korean manufacturers' biz sentiment for Feb. hits 4-month high
South Korean manufacturers' business confidence for February rose to the highest level in four months, underscoring optimism that the incoming government will unveil economic stimulus steps, the central bank said Tuesday.The index of manufacturers' outlook on business conditions came in at 72 for February, up from 70 tallied for January, according to a monthly survey by the Bank of Korea (BOK). The index measures manufacturers' expectations for the coming month.It marked the highest level since
Jan. 29, 2013
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Japan’s weak yen drive ignites currency war, deals blow to Korea
When Japan set its inflation target and declared a change in its monetary regime for a weak yen, global investors and economists took this as a sign that currency wars would soon be launched to aid the economy, especially the export sector.Japan’s weak yen policy, aimed at pulling its economy out of deflation and recession, became one of the hottest topics at the recently concluded World Economic Forum in Davos, Switzerland.Japan’s Finance Minister Taro Aso told reporters that its central bank w
Jan. 28, 2013
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Samsung’s Lee owns homes worth W26b
Samsung Electronics chairman Lee Kun-hee owns the most expensive houses among the nation’s top 50 business leaders, data showed Monday. Lee owns three homes in Seoul’s Itaewon, Samseong and Seocho areas, whose combined value stood at 26.31 billion won ($24.32 million) last year, according to Chaebul.com, a conglomerate-tracking website. Lee is followed by Shin Choon-ho, chairman of food giant Nongshim Group, who has two houses together worth 8.57 billion won. The two top owners, Lee and Shin, we
IndustryJan. 28, 2013
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Final preparations under way for launch of Naro space rocket
The Korea Space Launch Vehicle, the Korean-made space rocket also called Naro-1, began final preparations on Monday for its Wednesday launch. The Ministry of Education, Science and Technology announced Monday that Naro-1 had been moved to the launch pad at the Naro Space Center in Goheung, South Jeolla Province.The Naro-1 is scheduled to blast off from the Naro Space Center on Wednesday at around 4 p.m. A final rehearsal for the launch will take place Tuesday, and the preparation committee will
TechnologyJan. 28, 2013
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[Power Korea] LG Chem targets top global position
LG Chem is expanding in petrochemicals and electric car battery technology.Since merging with LG Daesan Petrochemicals and LG Petrochemicals in 2006 and 2007, respectively, it has vertically integrated its production system at the company.Dividing its business project scope into two different areas ― petrochemicals, and information and electronics materials that include batteries ― the firm has seen increases in sales and total market value since 2009.Total sales jumped 49 percent from 15.52 tri
IndustryJan. 28, 2013
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[Power Korea] LG grows into full-fledged global brand
Many still remember the black-and-white Gold Star televisions manufactured in the 1960s.It was a symbol of wealth, since a large portion of middle- and lower-class families did not have the funds to buy such a costly television at the time. Instead they stuck to their old-fashioned radios ― which were also first introduced in the country by Gold Star, now LG, in 1959.LG Group was founded as Lucky Chemical Industrial Corp., now LG Chem, in Busan, South Gyeongsang Province, in 1947.Earning profits
IndustryJan. 28, 2013
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Samsung Card posts massive loss in Q4
Samsung Card Co. said Monday it posted a net loss of 2.6 billion won ($2.4 million) in the fourth quarter of 2012 due to a decrease in commission income.From October through December, the nation’s No. 2 credit card firm made sales of about 7.95 billion won, down about 7.4 percent from the same period in 2011.The firm’s operating loss amounts to about 3.1 billion won, a sharp contrast to the 73 billion won operating profit posted a year earlier. A decrease in commission rates caused the loss, Sam
Jan. 28, 2013
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Incheon Airport CEO offers to resign
Incheon International Airport Corp. said Monday that its CEO Lee Chae-wook has offered to resign before his official term expires in September. “He may have decided to offer an opportunity for his successor to oversee the planned expansion project of the airport from the beginning,” said an airport official. Lee, the former Asian chief of General Electric, took office to lead the nation’s main gateway in September 2008. He has been reappointed twice on his strong performance. Incheon Airport pla
IndustryJan. 28, 2013
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POSCO opens English corporate blog
POSCO, the nation’s top steel giant, launched an English-language corporate blog (globalblog.posco.com) Monday to strengthen two-way communication with global stakeholders, the company said. POSCO developed the English version of Hello POSCO, the first corporate blog run in Korean from September last year, in a bid to update corporate news and activities globally and to open communication with visitors from around the globe. The steel giant also established a corporate page on Linkedin.com, a U.
IndustryJan. 28, 2013