Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Army takes group action against Hybe for neglecting BTS
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Debate rages over ‘overly fatty’ samgyeopsal
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Some junior doctors are returning: Health Ministry
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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[Weekender] Korean psyche untangled: Musok
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Woman dangling from power lines rescued by residents holding blanket
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Hankook Tire takes over control of Hanon Systems
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Dawn of Korean nuclear energy industry
The nation’s first nuclear plant Kori-1 Nuclear Plant went under construction on March 19, 1971, in Gori, a small village that borders Ulsan and northern area of Busan. With the Kori-1 plant, Korea became Asia’s second and the world’s 21st country to possess a nuclear power plant. After almost seven years of construction that involved about 1.87 million labor units, the nuclear plant began operation from April 20, 1978. Since then Korea has constructed 20 more nuclear plants, and now generates e
IndustryJuly 2, 2012
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Kori-1 nuclear power plant waiting for final approval to resume operation
Experts say putting the nation’s first nuclear plant back into action will relieve power shortageControversy is growing again over resuming the operation of the nation’s oldest nuclear power plant Kori-1, which was shut down on March 13 following an abrupt power cut early this year. The Kori-1 plant, which began operation in 1978 in the northern part of Busan, had completed its scheduled life span in 2007. But it was granted a 10-year extension in 2008 after an inspection by the International At
IndustryJuly 2, 2012
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Early full-term babies may face later school woes
Even for infants born full-term, a little more time in the womb may matter.The extra time results in more brain development, and a study suggests perhaps better scores on academic tests, too.Full-term is generally between 37 weeks and 41 weeks; newborns born before 37 weeks are called premature and are known to face increased chances for health and developmental problems.The children in the study
TechnologyJuly 2, 2012
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Seoul shares down 0.13 pct on downbeat data
South Korean stocks slipped 0.13 percent on Monday as renewed optimism over the eurozone debt crisis faded amid concerns over downbeat economic data and second-quarter earnings, analysts said. The local currency fell against the U.S. dollar.After opening higher, the benchmark Korea Composite Stock Price Index (KOSPI) fell 2.36 points to close at 1,851.65, stemming a two-session winning streak. Tra
July 2, 2012
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Apple settles Chinese iPad trademark fight: court
U.S. technology giant Apple has paid a Chinese firm $60 million to settle a long-running dispute over the iPad trademark in China, a court said Monday.The government body overseeing trademarks has been asked to immediately recognise Apple's rights to the iPad name, the High Court of the southern province of Guangdong said on its website.Apple last week paid $60 million to settle the dispute, accor
IndustryJuly 2, 2012
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Mayan inscription predicts end of the world to be Dec. 21, 2012
News reports said archaeologists found a Mayan inscription in Guatemala predicting the end of the world to be Dec. 21, 2012.It is the second discovery of a Mayan tablet predicting the apocalypse on that date.Mayan prophecies about the end of time have sparked internet speculation about how it could happen -- from a giant asteroid strike to a black hole swallowing the planet.The 1,300-year-old inscription is said to be the most significant find of its kind in decades. However, excavation chief Ma
TechnologyJuly 2, 2012
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Philippines crocodile, gets World Record as largest in captivity
(AP-Yonhap News)Guinness World Records has declared that a huge crocodile blamed for deadly attacks in the southern Philippines is the largest in captivity in the world. The giant reptile has brought pride, fear, tourism revenues and attention to the remote town where it was captured.The saltwater crocodile named Lolong, which was captured last September in Bunawan town in Agusan del Sur province
TechnologyJuly 2, 2012
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Top 10 conglomerates' earnings seen to have slipped in H1
Most of South Korea's 10 largest conglomerates are estimated to have suffered a drop in their earnings in the first half of the year from a year earlier amid economic woes and declining demand in advanced economies, data showed Monday.With the exception of Samsung and Hyundai Motor Group, eight of the top 10 conglomerates saw their first-half business results worsen, according to data from financi
July 2, 2012
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Seoul shares open higher following EU summit
South Korean stocks began higher on Monday as a set of measures reached at a recent European Union (EU) summit relieved investors' worries, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 0.32 percent, or 6.02 points, to 1,860.03 in the first 15 minutes of trading.On Friday, EU leaders agreed on several short-term steps to bolster their monetary union and save debt-ri
July 2, 2012
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Chaebol ownership strengthened this year: FTC
Chaebol owners’ control of management has been strengthened with an increase in conglomerate shareholdings, a government report said.The Fair Trade Commission said Sunday that the nation’s top conglomerates were still slow to reform ownership and had adopted intra-group shareholdings more actively this year. The FTC, which surveyed the nation’s 63 large companies, found that 43 conglomerate owners, especially, have expanded control through the so-called “circular shareholding” structure.Circular
IndustryJuly 1, 2012
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SKT launches multicarrier service
SK Telecom, Korea’s biggest mobile carrier, said Sunday that it has officially launched its new multicarrier service as of midnight, July 1.This marks the first time for a telecom company anywhere to offer such a service, which uses two frequencies of 800 MHz and 1.8 GHz for Long Term Evolution smartphones.It allows 4G consumers to experience less mobile traffic in locations such as Gangnam in southern Seoul where people using mobile devices are densely populated.The telecom giant launched a tes
TechnologyJuly 1, 2012
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E-Mart looks to buy stores from NS Home Shopping: reports
Discount chain store operator E-Mart is looking to acquire retail stores and a distribution center belonging to NS Home Shopping, according to media reports.The company is said to have signed a memorandum of understanding with NS and that E-Mart will begin due diligence on its counterpart’s assets next week.The acquisition price of 23 nationwide stores owned by NS is estimated to be around 50 bill
IndustryJuly 1, 2012
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LG Uplus vows to lead LTE technology in Korea
LG Uplus said Sunday that it would introduce five exclusive Long Term Evolution network services this year.The country’s third-largest mobile carrier said it would provide high-definition voice services as well as upgraded cloud services as the second part of its project to expand fourth generation network provision.“What defines LTE service is that it will be faster and the network will enable us to enjoy various media services, as well as offering a platform for all Internet-based services,” t
IndustryJuly 1, 2012
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Top 100 firms’ assets total nearly W1,500tr: report
The top 100 companies in South Korea have collective assets of nearly 1,500 trillion won ($1.36 trillion), equaling 95 percent of the nation’s public assets, according to a report released on Sunday. Chaebul.com, an online corporate information provider, said that the 100 groups excluding state-owned or public enterprises had assets of 1,446.76 trillion won as of last year. The financial power of private companies stands shoulder-to-shoulder with that of the nation, said the report, and is expec
July 1, 2012
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Korea’s Iranian oil imports nearly halve in May
Korea’s imports of Iranian oil fell nearly half in May from the previous month as local refiners moved to switch their suppliers in the face of international sanctions against Tehran, industry data showed Sunday.Korea imported 3.96 million barrels of Iranian crude in May, down 47.3 percent from 7.52 million barrels in April, according to the data compiled by the Korea National Oil Corp. It is the lowest monthly tally since October 2010 when the country bought 3.72 million barrels of oil from Ira
July 1, 2012
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Samsung Electronics expected to hit record earnings in second quarter
But technology giant will still fall short of market expectations, analysts saySamsung Electronics, the world’s largest smartphone maker, is likely to have reached record-high earnings in the second quarter of this year.But the company is expected to deliver results below market expectations, with many analysts lowering their initial forecast due to the eurozone crisis and continued slowdown in the semiconductor sector.The general consensus among analysts indicated that the tech manufacturing gi
TechnologyJuly 1, 2012
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Public institutions’ debt ratio soars in 2011
Korean public institutions’ debt surged in 2011 from the previous year due mainly to increased spending on large-scale investment projects, government data showed Sunday.According to the data from the Finance Ministry, the debt-to-equity ratio of 286 state-invested companies and other public institutions averaged 197 percent last year, up from 165 percent a year earlier.As of the end of last year, their liabilities totaled 463.5 trillion won ($404 billion), while their equity capital came to 235
July 1, 2012
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Korea’s trade surplus widens to $4.96b
South Korea’s trade surplus rose to a 21-month high in June as overseas demand for South Korean products grew while the country’s imports shrank, the government said Sunday.The country’s trade balance came to $4.96 billion in the black last month, up from a $2.4 billion surplus tallied in May, according to the Ministry of Knowledge Economy.Exports rose 1.3 percent from a year earlier to $47.35 billion in June, ending a three-month losing streak. Imports, on the other hand, shrank 5.4 percent on-
July 1, 2012
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Stocks to continue upward
Korean stocks will likely rally again this week, local analysts said Saturday, following an agreement at a European summit to ease bailout rules for debt-ridden countries in Europe.The country’s key stock index, the Korea Composite Stock Price Index, closed at 1,847.39, up 0.35 percent from a week earlier. The tech-heavy KOSDAQ climbed 0.82 percent from a week before to close at 489.16.Local investors, individuals and institutions alike helped keep the stock market afloat, purchasing a net 1.36
July 1, 2012
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Coffee chain sales grow by 28%
Sales at popular coffee chains increased by 28 percent last year. The nation’s top six coffee franchises ― Starbucks, Caffe Bene, Coffee Bean & Tea Leaf, Tom n Toms, Hollys and Coffine Gurunaru ― recorded total sales of 743.3 billion won ($651.1 million) in 2011, according to Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System. In 2010, they brought in 580.7 billion won. Starbucks topped the market, recording 298.2 billion won in sales. During the last decade, the coffee
IndustryJuly 1, 2012