Most Popular
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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S. Korean children, teens grow taller, mature faster than before: study
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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[Robert J. Fouser] AI changes rationale for learning languages
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Woman dangling from power lines rescued by residents holding blanket
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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Korea likely to have stand-alone rating soon
A rate cut expected for weak conglomerate units and public corporationsKorea’s financial regulators plan to hold a public forum to explore the introduction of a stand-alone corporate rating system on Feb. 9, heralding the imminent implementation of a program that alarms Korean conglomerates. The envisioned stand-alone rating system is widely expected to weed out nonviable chaebol affiliates which have inflated their corporate ratings through links with parent firms with better ratings. The gover
Jan. 31, 2012
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Ultrasound zaps could be used as male contraceptives: study
WASHINGTON (AFP) - Zapping testicles with ultrasound can reduce sperm counts and might be used in the future as an inexpensive, reliable and reversible male contraceptive, according to US researchers.Scientists from the University of North Carolina School of Medicine, who conducted experiments on ma
TechnologyJan. 31, 2012
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Earth's missing energy not lost after all; study
(NASA)A new NASA study underscores the fact that greenhouse gases generated by human activity -- not changes in solar activity -- are the primary force driving global warming.The study offers an updated calculation of Earth's energy imbalance, the difference between the amount of solar energy absorb
TechnologyJan. 31, 2012
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Doctors 'should check blood pressure on both arms'
Measuring blood pressure on both arms rather than only one can reveal an elevated risk of heart disease or even death, according to a study released Monday. A file picture shows a medic taking a patient's blood pressure in Connecticut, United States. (AFP)In a review of medical literature, rese
TechnologyJan. 31, 2012
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Eland Group survives in Dodgers bidding
Eland Group, South Korea’s leading fashion retailer, has survived the first round in bidding for the Los Angeles Dodgers, industry sources said Monday.“Eland, which created a consortium late last year, submitted its bid and has advanced to the second round of bidding recently,” an anonymous source was quoted as saying by the Yonhap news agency. Ten potential ownership groups were announced Friday night to have survived the preliminary bidding to purchase the baseball club. In addition to Eland,
IndustryJan. 30, 2012
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IMF lowers growth outlook for Korea to 3.5%
The International Monetary Fund has revised down its 2012 growth outlook for South Korea sharply based on the latest economic conditions at home and abroad, the Finance Ministry said Monday.Korea’s economy, Asia’s fourth-largest, is forecast to expand 3.5 percent this year, down from a 4.4 percent growth projected last September, according to the ministry. The new forecast is lower than the 3.7 percent expansion predicted by the Seoul government in December.The latest growth outlook is part of a
Jan. 30, 2012
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Chamber celebrates Australia Day
The Australia Chamber of Commerce celebrated Australia National Day at the Grand Ambassador hotel in Gangnam, southern Seoul, on Friday.Participants were greeted with a Down Under theme as cabanas decorated one side of the room and Aussie favorites like fish and chips and meat pies were served. No day marking the country’s birthday would be complete without a good old fashion Aussie barbeque.Austcham Executive Director Rod Rothwell said that he wanted to give the feeling of home to the 145 guest
Jan. 30, 2012
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EUCCK to hold shaman ritual for New Year
The European Union Chamber of Commerce plans to hold an event where its members can have their fortune read, on Feb. 6 at Min’s Club in Seoul.According to Korean tradition, at the start of the New Year, some families visit shamans to seek divine intervention for their well-being. Shaman master Kim Hye-suk will perform one of the many rituals to repel evil spirits and make an offering to the gods in order to bring business prosperity and good health.The event starts at 7 p.m. and is free for EUCC
Jan. 30, 2012
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French chamber to discuss tax changes
The French Chamber of Commerce and Industry will hold a training seminar on Wednesday on the tax changes that were applied to this year.The training session will review and discuss main changes in Korean tax laws with a special focus on changes that will influence foreign-invested companies, foreign shareholders and employees. Kim and Chang partner Jenny Kim will discuss all the relevant changes to the tax code for this year from 8:30 a.m. until 10 a.m. on the 14th floor of the Grand Ambassador
Jan. 30, 2012
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CanCham promotes GLOBE 2012 conference
CanCham has made arrangements for its members to participate in the 12th Biennial Conference and Trade Fair on Business and the Environment.Also known as GLOBE 2012, the conference is one of the most important industry events on energy and the environment.Taking place between March 14-16 in Vancouver, cleantech and urban sustainability will also be prominently featured in the conference and trade fair.Special rates for Canadian Chamber of Commerce members apply such as free access to the trade f
Jan. 30, 2012
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InterChambers to hold global job forum
To assist young Koreans in finding work in a globalized world, the foreign chambers of commerce, CEOs and human resources specialists of global firms will hold a Global Career Forum on Feb. 9 at the Korea Chamber of Commerce and Industry’s Grand Hall.The forum will provide practical guidance to those interested in being recruited and in building a successful global career with a multinational company in Korea or abroad.Employment by foreign-invested companies has grown every year by 10 percent f
IndustryJan. 30, 2012
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German business leaders upbeat about Korea economic outlook
Despite the gloomy global and eurozone economic woes, German businesspeople in Korea presented positive forecasts of their business prospects for this year.Industry leaders from 10 German companies and the German ambassador to Korea spoke during the Korean-German Chamber of Commerce and Industry Economic Outlook seminar on Jan. 19. Friedrich Stockinger, KGCCI president and chief of Trumpf Korea, said that “2012 will mark the Year of the Black Dragon, but I am confident that even without the help
Jan. 30, 2012
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[Herald Interview] ‘Korea-Japan business activity recovering’
Biz association chief says FTA would make bilateral economy strongerBusiness cooperation between Seoul and Tokyo is getting stronger and closer as more and more Japanese companies are setting up operations in Korea, a top Japanese business leader said. “We thought that in Japan, our supply chain was perfect, but the earthquake and tsunami made our perfect supply chain a disaster. So Japanese companies started to think about diversifying the supply chain,” Tsutomu Awaya, chairman of Seoul Japan C
Jan. 30, 2012
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Chamber celebrates Australia Day
The Australia Chamber of Commerce celebrated Australia National Day at the Grand Ambassador hotel in Gangnam, southern Seoul, on Friday.Participants were greeted with a Down Under theme as cabanas decorated one side of the room and Aussie favorites like fish and chips and meat pies were served. No day marking the country’s birthday would be complete without a good old fashion Aussie barbeque.Austcham Executive Director Rod Rothwell said that he wanted to give the feeling of home to the 145 guest
Jan. 30, 2012
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EUCCK to hold shaman ritual for New Year
The European Union Chamber of Commerce plans to hold an event where its members can have their fortune read, on Feb. 6 at Min’s Club in Seoul.According to Korean tradition, at the start of the New Year, some families visit shamans to seek divine intervention for their well-being. Shaman master Kim Hye-suk will perform one of the many rituals to repel evil spirits and make an offering to the gods in order to bring business prosperity and good health.The event starts at 7 p.m. and is free for EUCC
Jan. 30, 2012
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Makgeolli brewery to open in U.S.
Baesangmyun Brewery Co. plans to set up a brewery for Korean rice wine, or makgeolli, in the U.S. as part of its efforts to expand overseas, the drinks maker said Sunday.The company said it has recently clinched a deal with an entrepreneur based in Chicago to build the facility there and begin producing 50,000 bottles of the traditional Korean beverage a month as early as July. It did not provide information on the value of the contract. Company officials said they are taking steps to obtain app
IndustryJan. 30, 2012
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Korea-Japan business ties ‘flourishing’ after disaster
Biz association chief says FTA would make bilateral economy strongerBusiness cooperation between Seoul and Tokyo is getting stronger and closer as more and more Japanese companies are setting up operations in Korea, a top Japanese business leader said. “We thought that in Japan, our supply chain was perfect, but the earthquake and tsunami made our perfect supply chain a disaster. So Japanese companies started to think about diversifying the supply chain,” Tsutomu Awaya, chairman of Seoul Japan C
Jan. 30, 2012
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Current account surplus reaches $27.65b in 2011
BOK forecast current account deficit in January due to temporary spike in importsKorea’s current account surplus shrank in December but for all of 2011 the country extended the surplus streak for the 14th year, the Bank of Korea said Monday. The current account surplus stood at $3.96 billion last month, down from a revised $4.56 billion the previous month, as the country’s export growth slowed due to the protracted eurozone fiscal debt crisis. The figure has been in the black for 22 months in a
Jan. 30, 2012
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German entrepreneurs upbeat about Korea business outlook
Despite the gloomy global and eurozone economic woes, German businesspeople in Korea presented positive forecasts concerning their business prospects for this year.Industry leaders from 10 German companies and the German ambassador to Korea expressed this view during the Korean-German Chamber of Commerce and Industry Economic Outlook seminar on Jan. 19. Friedrich Stockinger, KGCCI president and chief of Trumpf Korea, stated that “2012 will mark the year of the black dragon, but I am confident th
Jan. 30, 2012
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Record oil product consumption defies high prices
Korea’s consumption of petroleum products soared to its highest ever last year despite record-breaking oil prices.Last year’s average price of Dubai oil, which accounts for 80 percent of Korea’s crude oil imports, jumped 35.6 percent from a year before to $105.98 per barrel, breaking the previous record of $94.29 in 2008, according to the Korea National Oil Corporation.Prices of the North Sea Brent oil ($111.08 per barrel), Omani crude oil ($106.73 per barrel), Iranian heavy crude oil ($105.71 p
Jan. 30, 2012