Most Popular
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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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[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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[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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Seoul Metro to seek legal action against malicious complaints
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Illit, mired in controversy, remains on Billboard charts for 5th week
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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KEPCO unit completes wind farm in U.S.
Korea South-East Power Co. (KOSEP), a South Korean state-run power firm, said Thursday it has completed a wind farm in the United States, becoming the first South Korean firm to operate a large-scale wind farm in the world's largest economy.KOSEP will operate the Novus wind farm with an annual capacity of 287,000 MWh in Oklahoma for 20 years. KOSEP is a unit of the state-run Korea Electric Power Corp.Forty wind power turbines were installed at the wind farm and started operation early this month
Sept. 27, 2012
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GS E&C wins $14m order from Tanzania
GS Engineering & Construction Corp., South Korea’s fourth-largest builder, said Thursday that it has won a $14 million order to build a power line and a substation in Tanzania.Under the deal with Tanzania Electric Supply Company, GS E&C will build a 70 kilometer-long power line that links Kilimanjaro to Arusha, the two regions in northern Tanzania.The South Korean company will also set up a 132 kV substation in Kyungi as part of the contract designed to provide a stable supply of power to the el
Sept. 27, 2012
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LG Display takes Samsung to court over OLED patents
LG Display on Thursday filed a lawsuit against Samsung Electronics, claiming that its rival infringed on its patents involving the organic light-emitting diode technology of its latest gadgets such as the Galaxy S3.LG Display held an urgent press conference and said it filed the suit at the Seoul Central District Court which said Samsung infringed seven of its patented technologies.The gadgets in dispute are Samsung’s Galaxy S2, Galaxy S3, Galaxy Note and the Galaxy Tab 7.7.“We decided to go ahe
IndustrySept. 27, 2012
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WHO: Watch closely for new virus related to SARS
LONDON (AP) -- Global health officials have alerted doctors to be on the lookout for new cases of a virus related to SARS but said there was no sign the disease was behaving like the killer respiratory syndrome that killed hundreds in 2003.Earlier this week, the World Health Organization announced the new coronavirus had been found in a critically ill Qatari man being treated in London as well as
TechnologySept. 27, 2012
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Conglomerates lack responsible management: FTC
Family owners of some business groups are still short of responsible management despite their influential status, according to data held by the antitrust regulator.“As a large portion families and relatives of conglomerate founders are not registered as board members, it is difficult for authorities to take legal actions against them for irregular practices,” the Fair Trade Commission said in a statement on Thursday.Further, the average proportion of top owners registered as board of directors t
IndustrySept. 27, 2012
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Costco riles customers by defying city ordinance
Rule breaker operates every Sunday, risks biggest-ever PR crisisKorean customers love shopping for American frozen food and confectionery at warehouse stores like Costco, and they do it at the cost of getting stuck in traffic every time they go.But there is one thing they can’t stand, and that is feeling like they are being taken for granted.Costco Wholesale Korea’s current position is to continue violating Seoul City’s rules that obligate large discount stores to close on the second and fourth
IndustrySept. 27, 2012
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Google backs Samsung in patent war with Apple
Firm’s new Nexus 7 to roll out in Korea FridayGoogle Inc.’s executive chairman Eric Schmidt sided with Samsung Electronics in its ongoing global patent war with Apple when he expressed concerns about restriction of innovation and choice. “I think one of the worst things that have happened in the last few years has been the belief that somehow … one vendor could stop the sale of another vendor’s phones and devices. Literally prevent choice, prevent innovation,” he said in a press conference held
IndustrySept. 27, 2012
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Market leaders most resilient in economic slump, followers further lag
Korea Productivity Center releases 2012 National Brand Competitiveness Index, ranking 212 brandsAmid an economic slowdown here and abroad, last year’s top brands continued to lead this year, while their followers found it more difficult to catch up with market leaders, a recent brand competitiveness report found.The state-run Korea Productivity Center recently released its annual 2012 National Brand Competitiveness Index after surveying more than 110,000 consumers nationwide on 212 brands across
IndustrySept. 27, 2012
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Korea to adopt stricter capital rules for banks
South Korea’s financial regulator said Thursday it will introduce stricter capital rules next year for local banks in line with international efforts to buffer against any financial crisis. But the new regulations will be applied starting in 2015 as local banks are required to prepare for the strengthened rules, the Financial Services Commission said.Under the new regulations, also known as the Basel III, banks are required to secure an adequate level of capital ratios set by the Basel Committee
Sept. 27, 2012
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KDB chief talks economy with regional CEOs
Lender promises continuous support to small and medium-sized companies and start-upsKorea Development Bank Financial Group chairman Kang Man-soo hosted conferences this week for about 350 company CEOs working in the industrial belts of Gwangju Metropolitan City and North Chungcheong Province. The conferences were held at Hanam Industrial Complex in Gwangju on Tuesday and at Ochang Scientific Industrial Complex in Cheongwon, North Chungcheong Province, on Wednesday, according to KDB. The fundame
Sept. 27, 2012
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IBK will reach out to all six continents by year-end: chief
Industrial Bank of Korea chief executive Cho Jun-hee said his bank will open offices or ink deals for cooperation with banks on all six continents by the end of this year to support Korean companies doing business overseas.“We will build a network across all six continents by the end of December to financially assist small and medium-sized companies,” Cho said in a meeting with reporters Wednesday evening.“We plan to sign a memorandum of understanding with the Bank of China within this year so i
Sept. 27, 2012
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SK Group begins work on battery materials plant in China
HONG KONG (Yonhap News) ― SK Group, South Korea’s third-largest conglomerate, has broken ground for a plant in China’s southwestern city of Chongqing to produce cathode materials for lithium-ion batteries used in consumer electronics products and electric vehicles, in a bid to tap into the rapidly growing demand in China, officials said Thursday.SK China, the Chinese subsidiary of SK Group, started constructing the plant this week in the Chinese city’s Two Rivers New Zone, which was designated i
Sept. 27, 2012
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LG Display sues Samsung over patent infringement
LG Display Co., the world's No. 2 maker of liquid crystal displays, filed a lawsuit Thursday against tech giant Samsung Electronics Co. over alleged violation of its patents.In a press conference in Seoul, LG Display claimed Samsung Electronics, the world's largest smartphone manufacturer, had infringed seven of its patents on organic light-emitting diode (OLED) panel technologies."The company fil
IndustrySept. 27, 2012
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Ancient statue said made from meteorite
(UPI)German scientists analyzing an ancient Buddhist statue discovered by a Nazi expedition to Tibet in 1938 say it was carved from a rare form of meteorite.The 22-pound statue, known as the Iron Man, was discovered by an expedition of German scientists led by renowned zoologist Ernst Schafer and supported by the Nazi party.Historians believe that support may have been based on a belief the origin
TechnologySept. 27, 2012
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Deepest-ever view of universe in new image
MUNICH, Germany (UPI) -- Ten years of images from the Hubble space telescope have been combined for the best, deepest-ever view of the universe, U.S. and European astronomers say.The photo, assembled by combining a decade of NASA/European Space Agency Hubble observations of a patch of sky within the original Hubble Ultra Deep Field, has been dubbed eXtreme Deep Field or XDF, the Hubble European Sp
TechnologySept. 27, 2012
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Protection of 'digital afterlives' needed?
Federal laws are needed to regulate social networking sites to give users the right to determine what happens to their "digital afterlives," a U.S. expert says.Jason Mazzone, a University of Illinois expert in intellectual property law, says allowing social networking sites to set policy regarding the content of accounts of deceased users does not adequately protect individual and collective inter
TechnologySept. 27, 2012
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New comet is on path toward sun
(MCT)A new comet discovered by Russian skywatchers could be one of the brightest objects in the sky when it approaches Earth next year, astronomers say.Presently appearing as just a tiny dot in the sky beyond Jupiter, the comet was discovered Sept. 21 by Vitali Nevski and Artyom Novichonok of the International Scientific Optical Network in Russia and confirmed Tuesday by the International Astronom
TechnologySept. 27, 2012
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5,000-year-old tree unearthed in Britain
The trunk of a giant oak tree unearthed from a field in Britain may be more than 5,000 years old, forestry experts say.They called the 44-foot Norfolk bog oak “the largest-ever intact 5,000-year-old sub-fossilized trunk of an ancient giant oak,” but said they believe it could be just a section, possibly just a quarter, of the original tree.Until about 7,000 years ago the East Anglia fenland basin, a naturally marshy region in eastern England, was densely forested by gigantic oak trees. That chan
TechnologySept. 27, 2012
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Kukdong files for court receivership
Kukdong Engineering & Construction on Wednesday filed for court receivership. The 65-year-old firm, an affiliate of Woongjin Group, announced its insolvency on Tuesday. It is the second time the firm has filed for court receivership, having previously applied in 1998. The firm, which ranks 38th in the construction field, had led the country’s advance into the Middle East market in the late 1970s a
IndustrySept. 26, 2012
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Samsung gathers ammunition for new trial
Firm alleges ‘juror misconduct’ to see Apple verdict thrown outSamsung Electronics appeared to be busy gathering ammunition to overturn a recent billion-dollar verdict from a U.S. federal court that Samsung “willfully” infringed Apple’s software patents. “Juror misconduct” is the latest argument from the Suwon-based electronics maker, which alleges that the foreman of the nine-member panel which deliberated on the high-stakes patent battle with Apple failed to reveal his previous involvement in
IndustrySept. 26, 2012