Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Hopes rise for possible Gaza truce deal
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Korea's trade surplus reaches $3.15 bln in Sept.
South Korea's trade surplus widened from a year earlier last month as its imports shrank at a faster rate than exports, the government said Monday.The country's trade surplus reached an estimated $3.15 billion in September, compared with a $1.6 billion surplus the same month last year, according to the Ministry of Knowledge Economy.The figure also marks a growth from $2.04 billion in August.Export
Oct. 1, 2012
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Samsung TVs take up half of market share in Middle East, Africa
Half of the flat panel televisions (TV) sold in the Middle East and Africa were made by Samsung Electronics Co., reflecting its strong market presence in the region, a survey showed Sunday.The market survey, released by the world's top flat screen maker, showed that its flat screen TV sales eclipsed other competitors to account for a 49 percent share of the markets in the second quarter."Sales of
IndustrySept. 30, 2012
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Growth of household debts slows down for 11th month
The growth of household debt in South Korea lost steam for a 11th consecutive month as of July from a year earlier, largely due to government efforts to curb its increase, central bank data showed Sunday.Household loans extended by depository financial firms grew at a rate as low as 4.6 percent at the end of July from a year earlier, compared with the 8.6 percent tallied in the previous year, acco
Sept. 30, 2012
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Korean scientists identify a source of neural disorders
A group of South Korean scientists have discovered what could be a significant source of neurological disorders, such as depression, and may lead to the development of better treatment for such illnesses, the science ministry said Saturday.The team led by Lee Chang-joon, a researcher from the Korea Institute of Science & Technology, confirmed for the first time in the world that non-neuronal cell
TechnologySept. 29, 2012
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Instagram overtakes Twitter among mobile users
Photo sharing app Instagram has overtaken Twitter for the first time among U.S. smartphone users, according to data from comScore.In August, Instagram received an average of 7.3 million daily visitors, while Twitter attracted 6.9 million users, the website said.ComScore’s data reflects usage among U.S. smartphone owners aged 18 and older accessing the service on a device running iOS, Android, or RIM operating systems via a mobile web browser or app.The data also showed that Instagram visitors sp
TechnologySept. 28, 2012
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STX Offshore inks W480b oil storage facility deal
STX Offshore & Shipbuilding Co., a South Korean shipbuilder, said Friday that it has signed a 480 billion ($430 million) contract to build an offshore oil storage facility.Under the deal with a North African oil firm, the South Korean shipbuilder will construct the so-called floating storage offloading unit and deliver the unit during the first half of 2015, the company said in a statement. STX Offshore did not reveal the name of the buyer.The unit, measuring 324 meters long and 51 meters wide,
Sept. 28, 2012
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Samsung retains No. 1 spot in world handset market
South Korean tech giant Samsung Electronics Co. retained the top spot in the global mobile phone market in August on the back of steady sales of its products worldwide, industry data showed Friday.According to the data released by Hong Kong-based Counterpoint Technology Market Research, Samsung topped the world’s handset market last month with a market share of 29 percent.The research firm attributed Samsung’s outstanding performance to a sweep of both expensive and cheaper phone segments.Samsun
Sept. 28, 2012
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Korea’s industrial output remains sluggish in August
South Korea’s industrial output inched up in August from a year earlier, but its growth pace remained subdued apparently affected by sluggish demand amid concerns over the eurozone debt crisis and global slowdowns, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries grew 0.3 percent last month from a year earlier. It gained a revised 0.2 percent on-year in July. The output, however, shrank 0.7 perc
TechnologySept. 28, 2012
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Shares gain on Spain, China optimism
South Korean stocks advanced 0.38 percent Friday as investor sentiment got a boost from Spain’s pledge to cut spending and rising expectations for Chinese stimulus, analysts said. The local currency strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index climbed 7.53 points to 1,996.23. Trading volume was moderate at 668.4 million shares worth 4.85 trillion won ($4.36 billion) with gainers outpacing decliners 492 to 302. “Spain’s budget plan implies it is moving tow
Sept. 28, 2012
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Hyundai Heavy revives bidding war for KAI
The bidding war over the nation’s sole aircraft maker Korea Aerospace Industries is gaining fresh momentum, with Hyundai Heavy Industries unexpectedly joining the race on Thursday. Industry watchers had widely expected that Korean Air would become the sole bidder to acquire a 41.75-percent stake in KAI after the first bid last month failed to draw bidders other than the nation’s largest flag carrier. Now two competitors meet the legal conditions for a valid competition to continue the bidding pr
IndustrySept. 28, 2012
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KCC to ramp up monitoring of illegal Internet postings
The Korea Communications Commission announced Friday a series of preventive measures on the online real-name system Friday, saying that it will double monitoring of illegal Internet postings to twice a week.Following a meeting arranged by the Prime Minister’s Office, the commission said it will also publicize the current state of illegal postings and its countermeasures put in place by the Internet operators.It also said the law that currently states the online service provider’s responsibility
Sept. 28, 2012
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Woongjin paid own debt before crisis
Woongjin Group is facing public criticism for moral hazard after its holding company and construction unit filed for court receivership on Wednesday. A day before its application for court protection, Woongjin Holdings was found to have paid back 53 billion won of debt it borrowed from other Woongjin affiliates.Woongjin Holdings repaid 25 billion won and 28 billion won, respectively, to its sister companies Woongjin Thinkbig and Woongjin Energy on Wednesday even though the due date was two days
IndustrySept. 28, 2012
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Chanel returns to Lotte in time for Chinese holiday
Chanel cosmetics agreed to reopen at Lotte Department Store’s main branch in downtown Seoul next week, three years and nine months after it stormed out in fury, grabbing media attention as a catfight between a domestic retail mammoth and a “stuck-up” luxury brand.Lotte asked Chanel to downsize and relocate its cosmetics booth in 2008, pointing to its relatively low sales. The French brand refused, accusing Lotte of getting back at it for entering rival Shinsegae’s new store in Busan. The brand m
Sept. 28, 2012
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Samsung joins hands with Swiss chip firm
World’s largest memory chipmaker Samsung Electronics Co. said Friday that it has forged a business tie-up with a Swiss semiconductor solution firm in promoting their foundry business.Samsung said that it has cooperated with STMicroelectronics N.V. in developing the 32 and 28-nano chip technology, and will continue the bilateral cooperation.Geneva-based STMicroelectronics is the seventh-largest chipmaker that designs, develops and manufactures semiconductor products used in various electronic dev
TechnologySept. 28, 2012
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CEOs rush for receivership to save own skin
Filings for court’s bankruptcy protection rise sharply after law revision in 2006The number of companies filing for court receivership has increased 10-fold in the last five years, raising questions over whether CEOs did it to save their own necks while incurring losses for creditors, investors and customers.Seven-hundred-and-twelve companies filed for court receivership last year, up from 76 in 2006 when the bankruptcy law was revised to guarantee major shareholders’ management rights and great
Sept. 28, 2012
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Popular mobile game developer prepares a special event
Mobile puzzle game “Anipang” is winning tremendous popularity from Korean smartphone users based on the 60 million subscribers through instant messenger Kakao Talk.Anipang, which can be played via Kakao Talk’s mobile gaming platform “Kakao Game Center,” recorded 15 million downloads and 8 million daily users in 2 months since its release.The puzzle game features a system in which users have to align three or more animal figures such as rabbits and cats within 60 seconds. In the game, the users a
TechnologySept. 28, 2012
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Samsung retains No. 1 spot in world handset market in Aug.
South Korean tech giant Samsung Electronics Co. retained the top spot in the global mobile phone market in August on the back of steady sales of its products worldwide, industry data showed Friday.According to the data released by Hong Kong-based Counterpoint Technology Market Research, Samsung topped the world's handset market last month with a market share of 29 percent.The research firm attribu
IndustrySept. 28, 2012
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Volcano in N. Korea showing signs of activity
A volcano on the border of China and North Korea is showing signs of increasing activity and could erupt in the next few decades, Chinese researchers say.A massive eruption of Baekdusan around 1,100 years ago spread ash and volcanic gases for 30 miles and left a 3-mile-wide crater atop the volcano, scientists said.Three smaller eruptions have occurred since then, the most recent in 1903, they said.Seismic activity, ground deformation and gas emissions recorded in a period of heightened activity
TechnologySept. 28, 2012
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Mars rover Curiosity finds signs of ancient stream
This image provided by NASA shows shows a Martian rock outcrop near the landing site of the rover Curiosity thought to be the site of an ancient streambed, next to similar rocks shown on earth. (AP-Yonhap News)The NASA rover Curiosity has beamed back pictures of bedrock that suggest a fast-moving stream, possibly waist-deep, once flowed on Mars _ a find that the mission's chief scientist called ex
TechnologySept. 28, 2012
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Woongjin Group crisis spooks market
The financial woes gripping Woongjin Group are expected to send ripples through Korea as yet another seemingly sturdy enterprise appears to be teetering on the cusp of bankruptcy. “It was a shock, a pure shock. I could not believe it because from all I’ve seen in ads, commercials and the news, Woongjin seemed to me as invincible. The company was literally a legend or at least one of the most fantastic success stories I know because it was built by a man who started out an ordinary salaried worke
IndustrySept. 27, 2012