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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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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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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On May Day, labor unions blast Yoon's foreign nanny proposal
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Golden chance to liquidate babies’ gold rings?
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Korea to develop leading indicator for trade
SEJONG (Yonhap News) ― South Korea is considering developing a new leading indicator for trade conditions this year to better predict the economic trends of Asia’s fourth-largest economy, officials said Friday.Statistics Korea said the government is thinking of developing an indicator that would measure economic outlooks by tracking the trends of the country’s exports and imports.The index will be made by calculating an on-month growth rate of customs-cleared exports and imports, according to of
IndustryJan. 25, 2013
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KOGAS gains license from Cyprus for gas search
An international consortium, including Korea Gas Corp., or KOGAS, signed a joint exploration and production contact with the Cyprus government to search for gas in three offshore blocks, KOGAS said. “The consortium is composed of KOGAS and Italy’s ENI. KOGAS secures a 20 percent stake in the consortium, while ENI holds the remaining 80 percent stake,” a KOGAS official said Friday. “Operations for gas search on blocks 2, 3, 9 off the east Mediterranean island will be led by ENI for the next three
IndustryJan. 25, 2013
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Hyundai E&C net drops 18 percent in 2012
Hyundai Engineering & Construction Co., South Korea’s leading builder, said Friday that its 2012 earnings dropped 18 percent from a year earlier.Its consolidated net profit came to 560 billion won ($521 million) last year, compared with 685.1 billion won in 2011, the company said.Sales, however, jumped 11.8 percent on-year to 13.3 trillion won in 2012, and operating profit increased 3.4 percent on-year to 760 billion won. (Yonhap News)
IndustryJan. 25, 2013
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Kia sees fall in Q4 profit on stronger won
Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its 2012 earnings climbed 9.8 percent from a year earlier thanks to steady sales in overseas markets.Net profit reached 3.86 trillion won ($3.6 billion) last year, compared with 3.52 trillion won for a year earlier, the company said in a regulatory filing.Sales rose 9.4 percent on-year to 47.2 trillion won in 2012, and operating profit also climbed 0.7 percent to 3.5 trillion won.For the fourth quarter of last year, Kia’s
MobilityJan. 25, 2013
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Financial groups’ profit likely to fall
Four major financial groups are estimated to see their collective earnings in 2012 drop by 25 percent, or about 2.6 trillion won ($2.4 billion), from a year earlier, according to researchers’ forecast data.FnGuide, an online financial data provider, predicted Friday that the four groups ― Woori, KB, Hana and Shinhan ― will post 7.8 trillion won in their combined net profit, down from 10.4 trillion won in 2011.All four groups are scheduled to make public their 2012 earnings on Feb. 7.Shinhan Fina
Jan. 25, 2013
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Shares fall on foreign selling
South Korean stocks fell 0.91 percent Friday as foreign investors dumped large caps amid poorer corporate earnings and a gloomy outlook for this year, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 17.79 points to finish at 1,946.69. Trading volume was light at 395.9 million shares worth 4.97 trillion won ($4.63 billion) with losers outnumbering winners 497 to 308.“The poorer-than-expected fourth-quarter earnings of aut
Jan. 25, 2013
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Renault Samsung to lead SM5, QM5 development
Renault Samsung Motors said Friday that it would play a leading role in developing new versions of SM5 and QM5 cars that will be marketed globally. Thus far, the role of the Korean unit of France-based Renault Group has been largely limited to car production. Even though Renault plans to resume its Chinese production to cover the world’s largest car market, there would be no major changes in the neighboring Korean operation, said Gilles Normand, Renault chairman for the Asia-Pacific region. “For
IndustryJan. 25, 2013
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Samsung posts record Q4 earnings
Samsung Electronics said Friday its 2012 fourth-quarter operating profit jumped 89.4 percent from a year before on strong exports of its Galaxy S3 and Galaxy Note 2 smartphones. Its net profit grew 75.6 percent on-year to 7.04 trillion won ($6.59 billion) in the three months to December, the company said in a regulatory filing.The world’s top smartphone maker achieved its largest-ever quarterly sales of 56.1 trillion won, up 18.51 percent from a year earlier, and operating profit of 8.84 trillio
IndustryJan. 25, 2013
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FSS levies fines on 3 foreign brokerages
The Financial Supervisory Service imposed on three foreign-owned brokerage firms ― Deutsche Securities Korea, Credit Suisse’s Korean operation and CLSA Korea ― fines worth 37.5 million won ($35,000) each for breaching real-name account rules. They were also issued a caution.A foreign securities firm has expressed unease about the nation’s financial regulator’s recent sanction on them for leaking customers’ information abroad.An executive from one of the three firms, who declined to be named, sai
Jan. 25, 2013
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Study: Good grammar makes bad passwords
Good grammar may be important, but when used to concoct a long computer password, grammar -- good or bad -- undercuts its security, U.S. researchers say.Computer scientists at Carnegie Mellon University said a password-cracking algorithm they developed that took into account grammar was tested against 1,434 passwords containing 16 or more characters.The grammar-aware cracker surpassed other state-of-the-art password crackers when passwords had grammatical structures, a university release reporte
TechnologyJan. 25, 2013
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S. Korea's fertility rate edges up in 2012
South Korea's fertility rate is expected to have risen slightly last year but is still far from a safe level, a government commission said Friday.According to the presidential commission on birth rate and aging society, the country's fertility rate is believed to have risen to 1.3 children per woman in 2012.The fertility rate is the average number of children born to a woman during her lifetime. The rate needs to be at over 2.01 for the population to grow, but South Korea's fertility rate has re
TechnologyJan. 25, 2013
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Seoul shares fall 0.91 pct on foreign selling
South Korean stocks fell 0.91 percent Friday as foreign investors dumped large caps amid poorer corporate earnings and a gloomy outlook for this year, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 17.79 points to finish at 1,946.69. Trading volume was light at 395.9 million shares worth 4.97 trillion won (US$4.63 billion) with losers outnumbering winners 497 to 308."The poorer-than-expected fourth-quarter earni
Jan. 25, 2013
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Online game ‘ArcheAge’ to advance into N. America, Europe and Oceania
Massively multiplayer online role-playing game “ArcheAge” will be launched in the North American, European and Oceanian markets.XLGAMES, developer of the title, announced on Friday that it made a contract with Trion Worlds, an online game developer and publisher based in North America. The contract will allow the publisher to operate the “ArcheAge” game service in Europe, Turkey, Australia, New Zealand and North America.“’ArcheAge’ is one of the most anticipated game titles in North America and
TechnologyJan. 25, 2013
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Mars rover snaps first nighttime photo
NASA says its Mars Curiosity rover has taken its first nighttime photos of the Red Planet's surface, using both white and ultraviolet lights of its instruments.Scientists used the rover's Mars Hand Lens Imager instrument for a close-up nighttime look at a rock target called "Sayunei," in an area where Curiosity's front left wheel had scuffed the rock to provide fresh, dust-free materials to examine, NASA's Jet Propulsion Laboratory in Pasadena, Calif., reported Thursday.The Curiosity science tea
TechnologyJan. 25, 2013
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Study: Good grammar makes bad passwords
Good grammar may be important, but when used to concoct a long computer password, grammar -- good or bad -- undercuts its security, U.S. researchers say.Computer scientists at Carnegie Mellon University said a password-cracking algorithm they developed that took into account grammar was tested against 1,434 passwords containing 16 or more characters.The grammar-aware cracker surpassed other state-of-the-art password crackers when passwords had grammatical structures, a university release reporte
TechnologyJan. 25, 2013
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Women slim down more slowly than men
With the same exercise program, it’s easier for men to slim down and get healthier than women, a recent study has found.The study was conducted by researchers at the University of Missouri on 75 obese people for 16 weeks.The researchers asked the participants to do aerobics exercises and observed each person’s weight loss and health improvement. The level of exercise was adjusted individually as 65 percent of their health improvement was measured by the recovery time after exercise.After 16 week
TechnologyJan. 25, 2013
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Seoul shares down 1.26 pct in late-morning trade
South Korean stocks traded 1.26 percent lower late Friday morning due to losses in large-cap exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 24.77 points to 1,939.71 as of 11:20 a.m.Big-cap tech names led the decline, with market bellwether Samsung Electronics plunging 1.86 percent and its smaller rival LG Electronic moving down 1.63 percent. Flat panel giant LG Display lost 2.98 percent.Carmakers also traded in negative territory, with No. 1 industry player
Jan. 25, 2013
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LG Uplus to introduce first unlimited LTE data plan
Korean telecommunication company LG Uplus announced that it will introduce a new subscription plan which provides unlimited Long Term Evolution data transfer for the first time in local industry.LG Uplus announced on Friday that the new LTE data plan will be released on Jan. 31 and will temporarily invite subscribers for three months. Whether the subscription will be available after three-month period will be later decided, considering the number of customers, the company said.The new unlimited
TechnologyJan. 25, 2013
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Seoul shares open lower on exporters' losses
South Korean stocks started lower Friday due to exporters' losses caused by the Japanese yen's sharp drop against the U.S. dollar, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.56 points, or 0.23 percent, to 1,959.92 in the first 15 minutes of trading.Hyundai Motor tumbled 3.61 percent after its announcement of last year's stellar performances on Thursday. Samsung Electronics also dipped 0.07 percent despite its record-high fourth-quarter earnings.The local currenc
Jan. 25, 2013
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Samsung posts record Q4 earnings
Samsung Electronics said Friday its 2012 fourth-quarter operating profit jumped 89.4 percent from a year before on strong exports of its Galaxy S3 and Galaxy Note 2 smartphones. Its net profit grew 75.6 percent on-year to 7.04 trillion won ($6.59 billion) in the three months to December, the company said in a regulatory filing.The world’s top smartphone maker achieved its largest-ever quarterly sales of 56.1 trillion won, up 18.51 percent from a year earlier, and operating profit of 8.84 trillio
IndustryJan. 25, 2013