Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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Four S. Koreans abducted in Nigeria released: official
All four South Korean workers who were abducted earlier this week in Nigeria have been released, a government official said Saturday.They are all safe and have been handed over to South Korean officials in the African country, the official from the foreign ministry told reporters.They were freed around 10 p.m. Friday (Nigerian time), the official added.The workers from South Korea's Hyundai Heavy Industries were taken hostage Monday, along with a Nigerian co-worker, while working at a constructi
IndustryDec. 22, 2012
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Shop without limits
The evolution of electronic commerce and smartphone technologies has no doubt made online shopping one of the most common diversions, especially in densely wired countries like Korea.Not even this week’s presidential election stopped shoppers from browsing malls on their computers and smartphones or calling home shopping networks.Kim Hye-jin, an office worker in her 30s, was busy shopping online while the last televised debate between presidential candidates was aired last Sunday.“My husband cal
IndustryDec. 21, 2012
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Show hosts buttress of TV home shopping
TV home shopping has basked in a sales surge in the nation’s retail industry thanks to its appeal to many Korean shopaholics with its price competitiveness and entertainment quality. The beginning of this prosperous industry and culture followed in the steps of the Western home shopping advertisements that are more informative than entertaining. Even the pioneer show hosts of major Korean home shopping channels still say that, back then, they were not sure why home shoppers would order clothes w
IndustryDec. 21, 2012
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More households struggling with heavy debts: data
The nation’s household debt has been rising at a slower pace recently, but the number of struggling families has increased, government data found Friday.According to Statistics Korea, the Financial Supervisory Service and Bank of Korea, the average amount of household debt was 52.91 million won as of the end of March. The growth rate was 1.7 percent, a sharp decline from 12.7 percent last year. Of the nation’s total households, those with debt made up 64.6 percent, up 1.8 percent from the same p
IndustryDec. 21, 2012
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Settlement not in sight in Samsung-Apple patent fight
The patent litigation still looks to be far from reaching a settlement as Apple Inc. appealed a previous ruling by a U.S. federal judge to call off a sales ban on 26 Samsung Electronics’ products.Apple on Thursday decided to appeal a U.S. judge’s Dec. 17 ruling to reject its request for a sales ban on more than two dozen electronics devices manufactured by Samsung. Those gadgets include the Galaxy S2, Galaxy S2 Epic and Galaxy S2 Skyrocket.U.S. District Judge Lucy Koh has stated that “it wasn’t
IndustryDec. 21, 2012
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Foreign biz community cautious about predicting economy under Park
The foreign business community here hoped for better days under a new government in Korea, but expressed lingering doubts over the future, citing the bleak external market conditions.“The good thing about having elected Park Geun-hye as president is that the risk factors, such as exactly how much change would be delivered to the corporate sector, has been pretty much eliminated,” said one source in the foreign industry who wished to remain anonymous. “However, because the overseas economies, suc
Dec. 21, 2012
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Shares fall on institutional selloff
South Korean stocks retreated 0.95 percent on Friday, led by institutional selling in tech issues amid the stalled U.S. fiscal budget negotiations, analysts said. The local currency edged up against the U.S. dollar. The benchmark Korea Composite Stock Price Index slipped 19.08 points to finish at 1,980.42. Trading volume was moderate at 545.5 million shares worth 5.27 trillion won ($4.90 billion) with losers outstripping gainers 445 to 359. “Institutions unloaded quite a bit of their holdings in
Dec. 21, 2012
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STX Group sells stake in European unit
STX Group, a South Korean shipping and shipbuilding conglomerate, said Friday that it has signed a deal to sell its stake in its European shipbuilding unit to an Italian firm as part of efforts to ease the group’s credit crunchUnder the deal with Fincantieri Oil & Gas SpA, STX Europe AS, the group’s local unit, sold its 50.75 percent stake, or 599.85 million shares, in STX OSV Holdings Ltd. at 1.22 Singapore dollars per share, said the company. STX OSV started trading its shares on the Singapore
IndustryDec. 21, 2012
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Park’s aides focus on growth, fair economy
Following is the second in a series of articles on President-elect Park Geun-hye’s key advisers and close associates. ― Ed. The academic backgrounds of the two key economic policy brains to President-elect Park Geun-hye indicate that the new government will put a priority on growth while promoting “economic democratization” for a fairer economy.Park’s economic pledges have allegedly been engineered by two economists, both of whom were economics professors at Sogang University, where the presiden
Dec. 21, 2012
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Financial watchdog issues English guidebook
The Financial Supervisory Service on Friday said it has issued an English language guidebook on investing in the Korean stock markets.The book is meant to provide assistance to foreign investors who are seeking to or are currently investing in local stocks, the financial watchdog said. Guidelines and regulations, such as how to register to make an investment, the ceiling on equity ownership, along with other “frequently-asked-questions” that the financial companies said they faced from the forei
Dec. 21, 2012
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S-Oil Corp. congratulates ‘hero neighbors’
S-Oil Corp. held the “2012 Hero Neighbors Award” ceremony in Seoul on Friday to congratulate 19 winners.The oil refinery company has annually selected “hero neighbors” who it judged made noble sacrifices and showed great courage to help their fellow citizens in danger.The company selected the 19 winners at the recommendation of the National Police Agency and the Ministry of Health and Welfare and by deliberation of a panel of experts.The winners, who won a trophy and 20 million won each, include
Dec. 21, 2012
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Banks need to take part in reviving economy: BOK chief
South Korean banks should take the initiative in boosting the slumping local economy as political uncertainties have been lifted with the presidential election now wrapped up, the central bank chief said Friday. "Lenders need to step up efforts to bring the economy back on track," Bank of Korea (BOK) Gov. Kim Choong-soo told a meeting with heads of major banks. "Four major world powers tied to the Korean Peninsula, including Japan and China, are at a new phase in their leadership." His rema
Dec. 21, 2012
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Apple ‘pinch-to-zoom’ patent deemed invalid
SAN FRANCISCO (AFP) ― A filing Wednesday in a high-stakes legal battle between Samsung and Apple revealed that a “pinch-to-zoom” patent central to the case has been deemed invalid.The patent was a centerpiece of a trial that ended in August with a jury ordering Samsung to pay Apple $1.05 billion in damages for illegally copying iPhone and iPad features for its flagship Galaxy S smartphones.Samsung provided U.S. District Judge Lucy Koh a copy of a U.S. Patent and Trademark Office preliminary dete
TechnologyDec. 20, 2012
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Corporate sector welcomes Park’s win
Organizations representing local industries mostly welcomed Saenuri Party Park Geun-hye’s election to president, but made big demands the incoming government to help promote fair competition in the corporate sector. “The leadership of the next president will play a critical role for our country to navigate the very tough times we face today in the form of an overall anemic economy defined by contracting exports, sluggish consumption and growing household debt,” the Federation of Korean Industrie
Dec. 20, 2012
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Don’t smoke if you’re on oral contraceptives
Oral contraceptives have proven to be among the most effective ways to prevent unwanted pregnancy. Yet, they must be taken accurately and safely to prevent any unwanted side-effects, doctors advise. “Birth control pills come in many different brands, which have different side effects. It is important that one chooses the right one that fits their physical traits,” says the Korea Food & Drug Administration.Basically, oral contraceptive pills can be divided into two different types ― birth control
TechnologyDec. 20, 2012
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Diarrhea in children
Children have diarrhea in order to protect the body and this is a natural systemic reaction. It is the reaction of the intestine to rid itself of the substances or microorganisms that enter and infect it. However, when diarrhea is severe, electrolytes and water, which are the main composites of the body, can escape as well and cause dehydration. Therefore, it is important to ensure that children are not dehydrated when they have diarrhea. Infants need to continue having breast milk even if they
TechnologyDec. 20, 2012
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Samsung Engineering wins $1.5b Saudi Arabia order
Samsung Engineering Co., South Korea’s largest industrial plant builder, said Thursday that it has secured a $1.5 billion order to build a power plant in Saudi Arabia.Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the South Korean company will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah by December 2016.The power plant will supply electricity to the Yanbu Industrial complex, Samsung said.“This order represents Sa
IndustryDec. 20, 2012
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U.S. imposes heavy duties on Korean washers
WASHINGTON (Yonhap News) ― The U.S. Commerce Department announced Wednesday that it has reached a final decision to slap heavy anti-dumping duties on South Korean-made washing machines.In a ruling described by the American firm Whirlpool Corp., the department determined that LG, Samsung and Daewoo have sold large washers in the U.S. at “dumping margins of 9.29 percent to 82.41 percent.”The anti-dumping duties for the two leading South Korean makers of electronics products ― LG and Samsung ― were
IndustryDec. 20, 2012
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GM Korea recalls 7,000 cars over defective shaft
GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., is recalling more than 7,000 cars sold here for a defective shaft in the transmission that may break, causing the loss of power, the government said Thursday.The recall affects 4,649 Lacetti compact vehicles and 2,606 Chevrolet Captiva family SUVs that were produced between July 24, 2008 and May 29, 2012, according to the Ministry of Land, Transport and Maritime Affairs.Renault Samsung Motors Co., the local unit of France’
Dec. 20, 2012
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Shares edge up on U.S. budget cut talks
South Korean stocks closed slightly higher Thursday as investors stayed on the sidelines following another bump on the U.S. fiscal spending talks overnight, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 6.41 points to finish at 1,999.50. Trading volume was moderate at 416.2 million shares worth 5.43 trillion won ($5.05 billion) with decliners outpacing gainers 408 to 395. “All that investors are waiting for now is for the U.S
Dec. 20, 2012