Most Popular
-
1
40 flights canceled on Jeju Island due to bad weather
-
2
Pandemic left Korea more depressed than before: report
-
3
N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
-
4
Korean labor force to shrink by 10 million by 2044: report
-
5
Gov't appears to shelve punitive measures against mass walkout by doctors
-
6
[AtoZ Korean Mind] Does your job define who you are? Should it?
-
7
Govt. asks hospitals to mitigate impact of medical professors' absence
-
8
S. Korea's working-age population to dip nearly 10m by 2044 amid low births
-
9
Doggy patrol team on the move to protect their cities
-
10
Samsung mocks Apple over iPhone alarm glitch
-
Online transactions of NongHyup Bank paralyzed
NongHyup Bank, the banking unit of South Korean financial holding company NongHyup Financial Group Inc., said Wednesday its online and smartphone banking system was paralyzed for an unknown reason.The bank said that an error occurred at 6:20 p.m. at its operating system located in Anseong, 77 kilometers from Seoul. The online transaction system remained malfunctioning as of 7:35 p.m."No hacking activities were identified behind the failure," an official from the bank said. "We are currently maki
April 10, 2013
-
Samsung, LG clash over police raid
Samsung Display on Wednesday denied that it had been investigated for technology espionage against its rival LG Display following reports that the police had raided its offices the day before.“Samsung is the only company in the world possessing OLED (organic light-emitting diode) technology. Our concern is that our technology may be leaked, not vice versa,” Samsung Display chief executive Kim Ki-nam told reporters after a weekly Samsung executive meeting.On Tuesday, the cyber crime unit of Seoul
TechnologyApril 10, 2013
-
Hyundai suppliers call for resumption of overtime work
Representatives of Hyundai Motor’s auto parts suppliers on Wednesday called for the resumption of weekend overtime work at the carmaker’s Ulsan factory which has been suspended since March due to labor-management disputes on overtime pay.“Following the suspension of overtime work at the carmaker, suppliers are facing escalating damage to their profits. We are also not paying our employees properly as normal,” the group said in a statement on Wednesday.The Hyundai Motor union has refused to work
IndustryApril 10, 2013
-
Shares gain on Chinese data
South Korean stocks closed 0.77 percent higher Wednesday, buoyed by easing Chinese inflation data that offset heightening fears over North Korea’s repeated war threats, analysts said. The local currency inched up against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 14.84 points to finish at 1,935.58. Trading volume was light at 312.4 million shares worth 4.08 trillion won ($3.57 billion) with advancers far outpacing decliners 640 to 187. “A country’s economic policy s
April 10, 2013
-
Lotte probed for bullying suppliers
The Fair Trade Commission began looking into whether Lotte Group pushed suppliers of Lotte Confectionery to cut costs, laying a possible touchstone for the Park Geun-hye administration’s much-played-up initiative to help out small and medium-sized firms.Lotte Group recently sent its auditing staff to suppliers of Lotte Confectionery and demanded they submit materials on management. After reviewing the submitted data, Lotte concluded that the suppliers collected about 1 billion won ($880,000) in
IndustryApril 10, 2013
-
Koreans’ alcohol consumption falling
Per capita alcohol consumption in South Korea has declined in recent years due to improved drinking culture, a trade association said Wednesday.According to data by the Korea Alcohol & Liquor Industry Association, the alcohol consumption per South Korean aged 15 or older came to 9.18 liters in 2011, down 3.2 percent from 2007 when the association started compiling related data.The fall stemmed from local drinking culture improved by increased interest in health since the late 2000s, the associat
April 10, 2013
-
KDB Financial backs off from privatization
The state-controlled KDB Financial Group has shifted its policy direction under the Park Geun-hye administration away from privatization.The future business policies of KDB Financial can be seen via the inaugural speech of its new chairman Hong Ky-ttack, who took office this week.Hong said the financial group would bolster its long-standing role as the nation’s leading provider of policy loans for state projects.His remarks could mean that the Park government has scrapped the earlier project of
April 10, 2013
-
Extra budget bill due next week
Finance Minister Hyun Oh-seok said Wednesday that the government plans to submit its bill proposing additional funds to the National Assembly next week.“We will submit the supplementary budget bill for National Assembly approval by the end of April after a Cabinet meeting next week,” said Hyun, also the country’s deputy prime minister, in a meeting with economic-related officials.The ministry said it will finalize the size of the budget with political parties and try to speed up its efforts to u
April 10, 2013
-
LG CNS launches electric car sharing service in Seoul
LG CNS, the IT arm of South Korean conglomerate LG, said Tuesday its affiliate has launched an electric vehicle sharing service for Seoul residents.Under the service operated by EverOn, an affiliate of LG CNS, drivers can rent the electric vehicles at posts in Seoul Station, Suseo Station and Sangam DMC Station around the clock, the company said in a press release.“EverOn plans to introduce more electric car models and expand renting posts in residential areas and near key landmarks,” said compa
TechnologyApril 10, 2013
-
IT trade surplus widens on brisk exports in March
South Korea’s trade surplus in the information-technology sector widened from a year earlier in March as the growth of exports greatly outpaced that of imports, the government said Tuesday.The country chalked up a trade surplus of $7.02 billion last month as its outbound shipments of IT products surged 10.1 percent from a year earlier to $13.76 billion, according to the Ministry of Trade, Industry and Energy.Imports, on the other hand, gained only 2 percent on-year to $6.74 billion. The trade su
April 10, 2013
-
Mobile takes business leaders into a new age
The era of the mobile enterprise has arrived. The use of those devices is now at a critical mass and it is just the beginning.Yet Gartner, a leading information technology research and advisory company, says few organizations plan and manage mobility with a truly strategic or proactive approach. They are mostly reactive and tactical.For enterprises, mobility should not be about the device. Instead, it needs to be about figuring out what an organization can do differently and better now that its
TechnologyApril 10, 2013
-
SC Bank CEO leads social contributions
Richard Hill, chief executive of Standard Charted Bank Korea, has proven his leadership by harmonizing sustainable management with long-term corporate contributions to the local community, bank officials said. They said he has shown strong leadership in promoting both shared growth and social contributions to local communities to help the company develop sustainable growth. Hill joined Standard Chartered in January 2006 as chief financial officer in the financial group’s unit in Singapore. In Ja
April 10, 2013
-
Face width linked to baseball skills: study
For male baseball players, having a wide face may mean they can hit more home runs, a new study suggested.Psychologists from the University of London looked at data concerning 104 Japanese professional baseball players, and found a correlation between the players’ facial width-to-height ratio and their batting power.The researchers analyzed the players’ game data in the 2011 and 2012 seasons, and compared it to the width of the players’ faces. They found that players with relatively wider faces
TechnologyApril 10, 2013
-
‘Exercise genes,’ ‘lazy genes’ may exist: study
A study conducted by U.S. scientists claimed that certain genetic traits may induce people to be motivated to exercise and remain active. Researchers at the University of Missouri conducted an experiment in which they put rats in cage with a running wheel and observed how much each rat willingly ran on the wheels for six days.After the experiment, the researchers selected the top 26 runners and 26 slow rats and bred each group separately through 10 generations. When the “super runner” and “cou
TechnologyApril 10, 2013
-
Seoul shares gain 0.77 pct on Chinese data
SEOUL -- South Korean stocks closed 0.77 percent higher Wednesday, buoyed by easing Chinese inflation data that offset heightening fears over North Korea's repeated war threats, analysts said. The local currency inched up against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 14.84 points to finish at 1,935.58. Trading volume was light at 312.4 million shares worth 4.08 trillion won (US$3.57 billion) with advancers far outpacing decliners 640 to 187. "A c
April 10, 2013
-
Seoul shares up 0.62 pct in late-morning trade
South Korean stocks traded 0.62 percent higher late Wednesday morning, led by gains in steelmakers and chemical firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 11.96 points to 1,932.70 as of 11:20 a.m. Blue-chip local zinc smelter Korea Zinc soared more than 4 percent and leading chemical maker LG Chem jumped 3.2 percent. In contrast, defensive shares lost ground, with state-run gas provider Korea Gas Corp. falling nearly 2 percent. Top-cap Samsung El
April 10, 2013
-
S. Korea prepared to take swift action to stabilize market amid growing N.K. risks: official
South Korea will keep up its monitoring on financial and economic conditions in order to swiftly respond to any eventualities amid deepening geopolitical risks from North Korea's continued war threats, a senior economic policymaker said Wednesday."The government will strengthen its monitoring on financial and economic developments, while keeping its efforts to stabilize sentiment among foreign credit appraisers and foreign investors,"said Eun Sung-soon, the head of the finance ministry's interna
April 10, 2013
-
Hyundai, Kia recall over 160,000 cars in S. Korea
The country's top automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. have been ordered to recall over 160,000 cars for problems with brake light switches, the transportation ministry said Wednesday.The faulty light switch could stop the brake lights from illuminating even when drivers step on the brake pedal, but it can also cause the cruise control not to work properly, according to the Ministry of Land, Infrastructure and Transport.It may also cause the push-to-start button to fail
IndustryApril 10, 2013
-
S. Korea to set up GPS jamming surveillance system
SEOUL -- Amid growing war threats from North Korea, South Korea plans to beef up its surveillance system against the North's provocative electronic jamming signals that have targeted civilian facilities in the past, sources said Wednesday. In addition to cyber attacks on South Korean networks, the North has been disrupting global positioning system (GPS) signals since 2010. GPS is a satellite-based navigation system widely used by planes, ships and vehicles.The latest attempt between April 2
TechnologyApril 10, 2013
-
Seoul shares open higher on Chinese data
South Korean stocks got off to a strong start Wednesday, as Chinese inflation data overshadowed escalating tensions caused by North Korea's torrent of threats, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.94 points, or 0.31 percent to 1,926.68 in the first 15 minutes of trading. Brokerage houses and steelmakers drove up the shares, with KDB Daewoo Securities Co. spiking more than 4 percent and POSCO shooting up 2.5 percent. China's consumer prices rose 2.1 perc
April 10, 2013