Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Too much screen time? Experts might say you’re facing technology addiction
DALLAS ― Michael Decker is always reachable. The 42-year-old creative director from Dallas sleeps with his phone nearby on his nightstand. From when he wakes up and checks it until he sets it down before bed, his phone is constantly with him.“It’s an intrusion into your own private life,” he says. “It leads to burnout if you can never turn it off.”Decker, who owns an iPhone, a laptop and an iPad,
TechnologyJuly 20, 2011
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Sound savings banks allowed to offer consumer finance
South Korea plans to permit healthy savings banks to engage in consumer finance in a bid to help them secure stable sources of income, the financial watchdog said Wednesday.The Financial Services Commission (FSC) said consumer finance loans will be allowed for savings banks with more than 10 percent capital adequacy ratio and less than 8 percent sub-standard loan ratio. Consumer finance refers to
July 20, 2011
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Busan Savings Bank draws fresh suspicion for shady land deals
A ruling party lawmaker on Wednesday disclosed fresh allegations of embezzlement involving Busan Savings Bank, insisting that the corruption-ridden lender bought real estate along the southwest coast for inflated prices that were up to 10 times more expensive than the market value.Rep. Ko Sung-doug of the Grand National Party (GNP) said the Busan-based institution, which was suspended in February
July 20, 2011
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Modern baby lives 20 years longer than those before WWII
Compared to the generation born before World War II, modern toddlers reportedly have a life expectancy of 20 years longer, according to a report by the Daily Mail. A nurse inspects a newborn baby at a nursery in a hospital in Taipei. (AFP-Yonhap News)Due to remarkable economic development and medical science, as well as healthier lifestyles and working conditions, average life expectancy is up to
TechnologyJuly 20, 2011
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Sleep deprivation drives us mad
A new study revealed that people who don’t get enough sleep are more likely to blame others depending on the outcome as lack of sleep leads to skeptical and negative judgments, MSNBC reported. (MCT)Associate professor of psychology at the University of Arkansas, David Mastin presented the abstract of his research which linked sleepiness to alteration in people’s thoughts, at SLEEP 2011, the 25th a
TechnologyJuly 20, 2011
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Apple directors talked CEO job with recruiters: report
IndustryJuly 20, 2011
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Samsung betting big on Galaxy Tab 10.1
Samsung Electronics appeared to be full of confidence as it launched its second-generation tablet PC, the Galaxy Tab 10.1, in Korea on Wednesday at the company’s headquarters in southern Seoul. (Samsung Electronics Co.)Shin Jong-kyun, chief of the global electronics company’s mobile business unit, pledged to sell more than five times more tablets than last year, despite the first Galaxy Tab not ha
TechnologyJuly 20, 2011
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S. Korea unveils new light airplane
South Korea introduced its first indigenous private aircraft Wednesday in a ceremony also marking the first flight of the light passenger plane, named "Naraon."The plane was unveiled by Korea Aerospace Industries Ltd. (KAI) in Sacheon, 437 kilometers southeast of Seoul. It is the first non-military aircraft developed and built by South Korea, according to the Ministry of Land, Transport and Mariti
IndustryJuly 20, 2011
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White House unsure about ratification of Korea FTA this summer
Stepping back from a confident tone a week earlier, a top White House official said Tuesday that it might not be possible to win congressional approval for pending trade pacts this summer.President Barack Obama's chief of staff, Bill Daley, said the administration remains committed to a plan to send free trade agreements (FTAs) with South Korea, Colombia and Panama to Congress for votes "very soon
July 20, 2011
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Banks face restriction in bond buying
The Bank of Korea said Tuesday it would narrow the scope of foreign exchange banks’ bond purchasing as part of its efforts to minimize side effects.As many local and foreign banks have actively invested in foreign currency-denominated bonds, the nation has undergone steep growth in foreign currency debts and the Korean won’s appreciation.Banks will be banned from investing in foreign currency-deno
July 19, 2011
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LG CNS picked as provider of system to integrate Colombian transport network
Korea’s cutting-edge transportation IT infrastructure will be introduced in Colombia as LG CNS, Korea’s tech firm, won the $300 million project to set up an intelligent transport system in Bogota, the company said on Tuesday.Bogota, Colombia’s capital, is one of the three biggest cities in Central and South America. Under the deal, LG CNS will establish systems for bus management, as well as issua
IndustryJuly 19, 2011
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Louis Vuitton to pull out of Lotte duty free shop in COEX
Louis Vuitton has decided to close a store at Lotte Duty Free Shop in COEX, citing recent slowing sales there. According to industry sources on Tuesday, the French brand will not renew its contract with Lotte, set to expire in December, and will withdraw the store.“We have informed Lotte about the withdrawal because of poor sales,” a Louis Vuitton official said in an interview. A pedestrian looks
IndustryJuly 19, 2011
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Korean robotics industry bursting into bloom
Market for robots nearly doubles to 1.93tr won in 2010Korea’s robotics industry is making rapid headway as local developers chalked up record growth in output, sales and exports last year on the back of surging investment in factories, a government study showed Tuesday.According to the survey by the Korea Association of Robot Industry of 395 firms, their combined sales nearly doubled to 1.93 trill
IndustryJuly 19, 2011
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Foxconn-Sharp ties aimed at countering Samsung, LG
HONG KONG (Yonhap News) ― The recent alliance between Taiwanese manufacturer Foxconn Technology Group and Japan’s Sharp Corp. will likely present a counterweight to South Korean liquid crystal display makers that have been dominant players in the global LCD market, an expert said Tuesday.Foxconn, the world’s largest contract electronics maker, agreed with the Japanese electronics giant last week t
IndustryJuly 19, 2011
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New mobile carrier unlikely to bring much change to market
The Korea Federation of Small and Medium Business is looking to set up a fourth mobile telecom services provider, but the market divided among three long-established giants is likely to hinder the would-be telecom operator.At present SK Group’s SK Telecom is the market leader with over 50 percent market share, followed by KT Corp., which accounts for about 35 percent of the market.LG Uplus, which
IndustryJuly 19, 2011
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Top regulator criticizes banks for high dividends
The nation’s chief financial regulator has expressed his skepticism toward major financial groups’ plan to offer its shareholders generous dividends.“Though it is important to maximize shareholder rights, it is also important for financial companies to protect customer rights,” Financial Supervisory Service Gov. Kwon Hyouk-se told reporters on Tuesday.It would be desirable for major financial grou
July 19, 2011
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Spanish bank to tap Korean market
European banks expected to expand presence in Korea under Korea-EU FTAEuropean banks are expected to expand their presence in the local market following the implementation of the Korea-EU Free Trade Agreement.Those aiming to making inroads into Korea include Banco Bilbao Vizcaya Argentaria S.A., a lender headquartered in Spain and the third-largest lender in the EU.Korea’s regulatory officials are
July 19, 2011
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Employment rate for women in their 50s highest in decades
The employment rate among Korean women in their 50s hit the highest level in decades in the second quarter, as many females joined the workforce to meet growing education and living costs, data showed Tuesday.According to the data by Statistics Korea, the employment rate among the cited age group stood at 59.3 percent in the April-June period, the highest level since the third quarter of 1992, whe
July 19, 2011
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Korean consumers aim to take a bite out of Apple
Class action suit against U.S. giant set to be filed next month over location trackingKorea’s class action suit against Apple Inc. is taking shape as a team of lawyers from the Miraelaw law firm are gearing up to file thousands of suits together next month.So far, more than 23,000 people have taken part in the class action spearheaded by the law firm’s 36-year-old lawyer Kim Hyeong-seok.Kim was th
TechnologyJuly 19, 2011
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BMW biggest 1-Series seen catching Audi in luxury market: Cars
Bayerische Motoren Werke AG is rolling out a bigger 1-Series compact car to surpass Audi in the competition for younger customers purchasing entry-level luxury autos. BMW’s smallest model will add more than 3 inches in length and about 1 inch in width, allowing for a roomier interior and more trunk space, the carmaker said. The vehicle’s starting price will be 23,850 euros ($33,480) in Germany, 90
IndustryJuly 19, 2011