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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Vaccinated mothers are safer for fetus: study
A large study concluded that it is safer for pregnant mothers to be vaccinated during pregnancy. According to the journal from scientists at the U.S. National Institutes of Health and the Norwegian Institute of Public Health, vaccination during pregnancy reduces the risk of fetal death by 25 percent. The study had a sample of 113,331 mothers who had been pregnant between spring 2009 and fall 2010, when the influenza A (H1N1) pandemic was in full swing. The study result shows that there were 492
TechnologyJan. 17, 2013
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A secret mobile phone for illicit lovers in Japan
An old-fashioned Japanese mobile phone has drawn lasting popularity, thanks to its strong and subtle privacy protection.The online edition of the Wall Street Journal reported Wednesday that the old mobile phone model called “F Series,” produced by Japanese electronics maker Fujitsu, has been favored by male customers in Japan even after smartphones dominated the market.The phone features a special function called “privacy mode,” which allows users to thoroughly protect details of calls and messa
TechnologyJan. 17, 2013
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Seoul shares down 0.21 pct in late-morning trade
South Korean stocks traded 0.21 percent lower late Thursday mornings, as earlier gains in tech blue-chips and shipping lines pared down, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 4.12 points to 1,973.33 as of 11:20 a.m.Tech heavyweight Samsung Electronics dipped 1.7 percent, with chipmaker SK hynix losing nearly 1 percent. The country's leading bulk shipping firm STX PanOcean slumped around 4 percent. In contrast, autos and brokerage houses advanced, with indust
Jan. 17, 2013
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Brokerages split over BOK's rate policy
Analysts from South Korean securities firms cast mixed forecasts for the central bank's interest rate policy this year as they are divided over the overall strength of the economic recovery, a survey showed Thursday.In a split decision, the Bank of Korea (BOK) froze the key rate at 2.75 percent for the third straight month on Friday as some economic indicators show signs of improvement despite the protracted economic slowdown. The BOK also cut its 2013 growth outlook to 2.8 percent from 3.2 perc
Jan. 17, 2013
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S. Korea's producer prices fall most in over 3 years in Dec.
South Korea's producer prices fell by the most in more than three years in December mainly because the local currency sharply appreciated to the U.S. dollar, the central bank said Thursday.The producer price index, a barometer of future consumer inflation, fell 1.2 percent in December from a year earlier, compared with a 0.9 percent on-year fall in November, according to the Bank of Korea (BOK). The December figure marked the largest fall since a 3.1 percent on-year fall in October 2009.Compared
Jan. 17, 2013
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Age has no correlation with cancer treatment: study
The effectiveness of cancer treatment depends on the patient’s willingness to survive and physical condition rather than their age, a recent survey showed. Professor Lee Sang-hyub from Seoul National University Bundang Hospital conducted a study on 531 patients diagnosed with biliary tract cancer from 2003 to 2011. The average survival period for 205 patients over 65 and 326 patients under 65 was 15 months and 11 months, respectively. The study, published in Journal of the American Geriatrics So
TechnologyJan. 17, 2013
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Seoul shares open higher on large-cap gains
South Korean stocks got off to a strong start Thursday, fueled by gains in large-cap shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.68 points, or 0.39 percent, to 1,985.13 in the first 15 minutes of trading. Top-cap Samsung Electronics inched up 0.13 percent, with No. 1 carmaker Hyundai Motor rising 1.6 percent. In contrast, utilities and textile firms lost ground, with state-run electricity provider Korea Electric Power Corp. sliding nearly 2 percent. T
Jan. 17, 2013
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Boeing crisis deepens as U.S. grounds Dreamliners
Boeing suffered another huge blow on Wednesday as U.S. regulators ordered airlines to stop flying 787 Dreamliners until a fire risk linked to the plane's lithium batteries has been resolved.Japan's two biggest airlines had already taken almost half the global fleet out of service, but the announcement by the Federal Aviation Administration (FAA) means 30 of the world's 50 Dreamliners have now been grounded."As a result of an in-flight, Boeing 787 battery incident earlier today in Japan, the FAA
BusinessJan. 17, 2013
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Dutch court rules in favor of Samsung
A Dutch court on Wednesday ruled that Samsung Electronics did not infringe design-related patents of Apple Inc. for its Galaxy tablets, including the flagship 10.1.“We welcome the court’s decision as making unreasonable claims involving the general design will not be helpful for the consumers as well as for the development of the industry,” the Seoul-based company said in a statement. Samsung and Apple have been enmeshed in a high-profile patent battle for over a year now, with Samsung ordered t
IndustryJan. 16, 2013
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Hyundai, Kia aim for 1.47 mln units sales in China
South Korea's top automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. said Wednesday they are aiming to increase their combined sales in China by 10 percent to 1.47 million units this year. The sales target represents 20 percent of the carmakers' total global sales of 7.41 million units planned for this year, they said. The Chinese car market is expected to grow 9.6 percent to 13.94 million units this year from last year, but its outlook is not all upbeat due to the prolonged global e
IndustryJan. 16, 2013
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Park’s pet ministry to buttress science, information and tech
The Ministry of Future Creation and Science, the tentative name for a new ministry formed by integrating two former ministries ― one for science and technology and the other for information and communication ― is expected to be one of the key pillars of the Park Geun-hye administration.From early on in her campaign, Park emphasized that one of her core election pledges would be to sharpen the nation’s science and technology edge. The new ministry is consequently expected to be the vehicle for Pa
Jan. 16, 2013
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U.S. to lead global trade talks on services
The United States will kick off multilateral trade talks on service sectors with key countries and economic blocs including Korea, China, Japan and the European Union, the country’s top trade representative Ron Kirk said Tuesday.“The negotiations will begin in Geneva, Switzerland, with a group of 20 trading partners who represent nearly two-thirds of global trade in services,” he said in a statement.The trade chief had also sent his notification to U.S. Congress earlier in the day.The related ta
Jan. 16, 2013
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N.K. confirmed behind JoongAng Ilbo hacking
North Korea is responsible for last year’s cyber attack on a Seoul newspaper that crippled its server and Web site, South Korean police said Wednesday.The National Police Agency (NPA) said the hacking method and Internet protocol (IP) addresses used for the attack on the JoongAng Ilbo, one of the country’s major conservative media outlets, were either similar or identical to those used by the North in previous attacks.A drawing of a white cat grinning and covering its mouth was posted on the Web
TechnologyJan. 16, 2013
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Transition team hints at revising campaign promises
The transition team of President-elect Park Geun-hye will look into whether her campaign pledges are “too comprehensive” or “overlap” with each other, a spokesman said, hinting at the possibility that the committee could attempt to revise promised projects.Questions have grown over whether Park will be able to implement all of the welfare and other expensive projects promised during her campaign amid concern that it will be difficult to raise the enormous amount of money necessary for them witho
TechnologyJan. 16, 2013
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Park to send special envoy to China next week
President-elect Park Geun-hye will send a delegation of special envoys to China next week to meet with China’s next leader Xi Jinping and other government officials, her spokesman said Wednesday.The delegation, led by Kim Moo-sung, a key official of Park’s presidential campaign last year, is scheduled to leave next Tuesday for a three-day visit that will include a courtesy call on Xi, spokesman Park Sun-kyoo told reporters at the presidential transition team’s office in Seoul.The other members o
TechnologyJan. 16, 2013
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Ex-Shinhan executives receive suspended terms for embezzlement
Two former executives of the Shinhan Financial Group Co. received suspended prison terms on Wednesday for embezzling a massive amount of company funds, according to court officials.The Seoul Central District Court sentenced Shin Sang-hoon, former president of the country’s No.4 banking group, to 18 months in prison, suspended for two years, for pocketing 261 million won ($246,458) of company money and illegally taking 200 million won worth of stocks from one of the group’s shareholders, they sai
TechnologyJan. 16, 2013
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KCS to crack down on capital flight
Korea Customs Service is to follow the example of the National Tax Service and crack down on wealthy individuals and corporations that illicitly channel money out of the country to dodge tax payments.In a report to the transition team of President-elect Park Geun-hye, the KCS said that it would also toughen its inspections on corporations that have set up paper companies in offshore havens to avoid taxes.This is in line with efforts by the president-elect to secure a budget to finance welfare ex
Jan. 16, 2013
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HHI wins mega-containership deal worth $600m
Hyundai Heavy Industries, the world’s top shipbuilder, won a $600 million super-sized containership contract.In a contract recently closed in Hong Kong with Canadian marine corporation Seaspan, HHI agreed to construct five 14,000 TEU containerships, company officials said Wednesday.The corresponding top-priced deal was the first mega-sized containership order to be placed this year, as well as the first one since the $1.2 billion deal last July ― which, too, was signed by HHI.The completed ships
IndustryJan. 16, 2013
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Whiskey sales plunge in 2012 on economic slump
Whiskey sales in South Korea fell sharply last year due to a persistent economic slump and sluggish domestic consumption, industry data showed Wednesday.According to data compiled by the Korea Alcohol & Liquor Industry Association, a total of 2.12 million boxes were sold last year, down 11.6 percent from 2.4 million boxes sold in 2011. Each box contains 18 0.5-liter bottles. With the latest decline, whiskey sales have declined for four consecutive years since 2009 when sales of the hard liquor d
Jan. 16, 2013
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Eximbank sets aside W74tr for exporters
The state-run Export-Import Bank of Korea said Wednesday it will provide local exporting companies with 74 trillion won ($69.8 billion) in lending and loan guarantees to help their overseas shipments.Of the total, 50 trillion won will be provided in loans with the remaining 24 trillion won to be provided through guarantee, the policy lender said in a statement. The fund is the largest yearly amount set aside by the policy lender, it said, adding that 60 percent of it will be extended in the firs
Jan. 16, 2013