Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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Samsung to scale back spending on chip business
Samsung Electronics Co., the world’s top memory chip maker, is likely to cut back its spending on semiconductor business next year in the face of the economic slowdown, company officials said Wednesday.“It will be difficult to make aggressive investments next year due to an economic slowdown,” Samsung’s memory business chief Jun Dong-soo told reporters, adding that Samsung is likely to take a conservative stance on investments.Jun, however, said nothing has been decided since the company is stil
Sept. 19, 2012
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Prof. Chang opposes drastic chaebol reform
University of Cambridge professor Chang Ha-joon expressed skepticism over politicians’ move to introduce strong regulations for big business groups under the buzzword of “economic democratization.”In his lecture for chief executives of Samsung Group subsidiaries on Wednesday, Chang said that revamping the conglomerate sector is not a prerequisite for economic democratization.Concerning calls in the market for conglomerates’ business diversification, he said, “If they had not widened the scope of
Sept. 19, 2012
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SK Hynix develops smaller, faster graphics chip
SK Hynix, the world’s second-largest chipmaker, said it has developed the industry’s first 4-gigabite DDR3 DRAM chip for graphics using a 20 nanometer-class processing technology.The double data rate, type-three synchronous dynamic random access memory chip can process 3.6 gigabytes of data per second via 16 lines of data channels at an operating speed of 1.8 Gbps.The company also noted that, when operating at 1.35 volts, the graphics chip consumes 30 percent less power than its 30 nanometer-cla
TechnologySept. 19, 2012
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Saudi Aramco to set up Korean branch
The Saudi Aramco, the world’s largest oil company in terms of crude oil reserves and daily production, is considering setting up a Korean operation to expand its presence in the nation’s energy market, industry sources said Wednesday. The state-run oil company already registered its new branch named Aramco Asia Korea Ltd. in May and is currently recruiting employees. Its office will be located in the Seoul Finance Center in Gwanghwamun, central Seoul. The company, which is the largest shareholde
IndustrySept. 19, 2012
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Kia Motors poised to export K9
Destinations include Middle East, China and Southeast AsiaKia Motors is considering exporting the K9 sedan in the coming months, having sold the premium sedan exclusively in the local market until now.The automaker’s first export destinations will likely be the Middle East, China and Southeast Asian countries, according to company executives. The K9 will be dubbed the Quoris in overseas market.“After targeting the Asian market later this year and early next year, we will fine-tune the timing of
IndustrySept. 19, 2012
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NPS’ stake in top firms hits record high
Pension fund’s stake in 10 largest groups surpasses 4 percentThe National Pension Service saw its average stake in 10 major business groups’ subsidiaries, listed on the stock market, come to an all-time high of more than 4 percent.The pension fund, as a result, is expected to exercise its shareholder right in the conglomerate sector more actively, stock research analysts predicted.According to Chaebul.com, a conglomerate-tracking website, the average stake held by the NPS in 93 companies of the
IndustrySept. 19, 2012
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‘Facebook powerful ad platform’
New media platforms have introduced new ways for companies to advertise their brands and products in this digital age of consumerism.Facebook looks to be the most “powerful” platform for effectively communicating and interacting with millions of users worldwide, said George Foo, chief operating officer of ihub Media Group, a social networking marketing agency based in Singapore. The company, which operates in eight countries, develops content applications such as games, characters and contests f
TechnologySept. 19, 2012
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Four-river project offers answer to global challenges
This article was contributed by the Korea Water Resources Corp. to mark the opening of the 2012 World River Forum in Daegu on Wednesday. ― Ed. It may be fair to say that economic growth has been given priority over environmental conservation in many parts of the world. Since 2009, the four-river restoration project has been initiated as a part of the green growth imitative developed by the Korean government. The project is targeting the main rivers ― Han, Geum, Nakdong and Yeongsan ― of the peni
Sept. 19, 2012
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Hanwha seeks global expansion in biosimilars
CEO envisions spin-off to create biotech firmIn June 2011, Hanwha Chemical, a listed Korean chemical company, made its first landmark deal to license its newly developed biosimilar compound to Merck, a global pharmaceutical giant.Merck will be further developing the “HD203” compound by Hanwha into a drug for joint pain.Hanwha attributed this overseas deal to Paul Coleman, CEO of the chemical company’s bio business unit, whose primary responsibility includes identifying global pharmaceutical comp
TechnologySept. 19, 2012
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SPC Group shares love, hope with community
Following is the seventh in a series of articles featuring companies’ social contribution activities. ― Ed.SPC Group, a leading food company that runs bakery franchises such as Paris Croissant and Paris Baguette, has been making consistent efforts to support disabled children and underprivileged people.Since May this year, each SPC Group employee has donated 1,000 won per month, matched by the company for a fund, to contribute to Purme Foundation which supports disabled children. The money will
IndustrySept. 19, 2012
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Sesame Street’s next chapter: Elmo talks back
Elmo, Big Bird and the rest of the ``Sesame Street'' crew have always talked to kids. Now, they'll try to have a two-way conversation with their pint-sized audience using Kinect, the motion and voice-sensing controller created by Microsoft.``Kinect Sesame Street TV,'' out Tuesday, is not exactly a video game, though it runs on the Xbox 360 video game system. There are no winners and losers, no rea
TechnologySept. 19, 2012
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Sleep in Saturday, harder to awake Monday
People who sleep in on Saturday do not catch up on sleep lost during the week -- it makes them sleepier Monday morning, a U.S. researcher says.Dr. Gregory Carter, a sleep medicine specialist at the University of Texas Southwestern Medical Center in Dallas, said the daily, or circadian, cycles guide the body‘s internal clock.People can delay their circadian clock by up to 1 hour by sleeping in 1 hour or more over the weekend, but the problem is that after sleeping in on weekends, the brain’s circ
TechnologySept. 19, 2012
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Violent TV linked to lost sleep in kids
TV shows with violence -- even cartoons OK for older kids -- can keep children ages 3-5 from getting a good night's sleep, U.S. researchers say. Study leader Michelle Garrison of the University of Washington School of Public Health in Seattle said the study involved 565 families. Some parents were encouraged to let kids watch only programs such as "Sesame Street" and "Curious George." The rest wer
TechnologySept. 19, 2012
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World's first mum-to-daughter uterine transplants in Sweden
Two Swedish women received new uteruses at the weekend in the world's first mother-to-daughter uterine transplants aimed at helping them have babies, Gothenburg University announced on Tuesday.Uterine transplants are new, with the first successful one conducted in Turkey in 2011."One of the women had previously had her own uterus removed after undergoing treatment for cervical cancer. The other wo
TechnologySept. 19, 2012
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By 2030, 67 percent of Mississippi obese
By 2030, 67 percent of Mississippi is slated to be obese, while the District of Columbia is estimated to be 32.6 percent obese, researchers say.A report by the Trust for America‘s Health and Robert Wood Johnson Foundation included an analysis that forecast if obesity rates continue on their current trajectories, by 2030, 13 states could have adult obesity rates above 60 percent, 39 states could have rates above 50 percent, and all 50 states could have rates above 44 percent. By contrast, the ana
TechnologySept. 19, 2012
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Seoul shares open lower on tech losses
South Korean stocks got off to a weak start on Wednesday as major tech firms suffered losses, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.18 points, or 0.36 percent, to 1,997.78 in the first 15 minutes of trading.Tech blue chips led the decline, with Samsung Electronics falling 0.76 percent and its smaller rival LG Electronics declining 0.52 percent following a law
Sept. 19, 2012
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S. Korea increases budget to lure foreign investment
South Korea will sharply increase the budget intended to provide more support and incentives for foreign businesses interested in making investments here, the finance ministry said Wednesday.The government will set aside 300 billion won (US$268.1million) for next year, which will be used exclusively to attract foreign investment, according to the ministry. The amount is up 36.1 percent from 220.5
Sept. 19, 2012
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Samsung, LG, Philips sued by Illinois for price fixing
Samsung Electronics Co., LG Electronics Inc. and Philips Electronics North American Corp. were sued by Illinois over alleged price fixing, based on claims the companies inflated costs for computer monitors and televisions. Illinois Attorney General Lisa Madigan filed the suit today in state court in Chicago. The complaint, which also names Hitachi Ltd. and Toshiba Corp. among others, claims the c
IndustrySept. 19, 2012
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FTC launches consumers’ assessment program
The Fair Trade Commission launched on Monday its first-ever survey program, which entitles consumers to directly assess product quality based on their user experiences.This marks the first time that a government agency, rather than civic organizations, will provide the sort of consumers’ product-evaluation reports in Korea.Its first target is the sport utility vehicle sector of local and foreign carmakers such as Hyundai Motor, Renault Samsung Motors, BMW and Mercedes-Benz.The state-run online p
IndustrySept. 18, 2012
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Korea ranks 40th in gold reserves
Gold has emerged as one of the safest assets as uncertainties mount in the global economy. Following other countries eager to buy gold, Korea has joined the move to diversify foreign exchange reserves, becoming 40th in the global ranking in terms of gold holdings.Korea’s gold holdings amounted to 70.4 tons, valued at $2.98 billion, as of the end of August, accounting for 0.9 percent of the country’s total foreign reserves of $316.88 billion, the World Gold Council said. In June 2011, Korea’s cen
Sept. 18, 2012