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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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[Music in drama] Rekindle a love that slipped through your fingers
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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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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IMF says Korea has little room to cut rate
Korea’s central bank has limited leeway to cut its key interest rate as Asia’s fourth-largest economy remains dogged by high inflation expectations, the International Monetary Fund said Wednesday.The IMF said in a report that given sluggish growth, high unemployment and downside risks, more monetary easing should be considered for some advanced economies, with the possible exception of Canada and Korea.The international organization said that for South Korea, “still-elevated inflation expectatio
July 4, 2012
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Regulator to cut credit card fees for merchants
Korea’s financial regulator said Wednesday it will move to reduce commission rates that credit card firms charge merchants in an effort to help ease smaller stores’ financial burdens.The average commission rate will be lowered to 1.9 percent from the current 2.1 percent within this year, benefiting 2.14 million merchants, or 96 percent of the 2.24 million card-accepting stores, according to the Financial Supervisory Service.The watchdog said the measure will likely enable merchants to save 900 b
July 4, 2012
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SKT opens center for cloud computing
Company vows to further strengthen its cloud and big data businessSK Telecom, Korea’s largest mobile carrier, has opened the first center in the country for monitoring cloud computing data and protection systems for enterprises.The company said Wednesday that it has established the cloud monitoring center within its Cloud Data Center in Ilsan, Gyeonggi Province, where it will run 24 hours a day throughout the year.The establishment of the center comes after SK Telecom launched the T Cloud Biz se
TechnologyJuly 4, 2012
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Apple will debut mini iPad this year: sources
Apple Inc. plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said, to help maintain dominance of the tablet market as Google Inc. and Microsoft Corp. prepare competing handheld devices. The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the hig
TechnologyJuly 4, 2012
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Micron’s Elpida purchase to challenge Samsung
Micron Technology Inc.’s 200 billion yen ($2.5 billion) purchase of bankrupt Japanese chipmaker Elpida Memory Inc. will give the U.S. company a stronger foundation to challenge Samsung Electronics Co. in the market for memory used in computers and mobile devices. “We can see so many synergies and so many opportunities to really become a much stronger competitor in the memory space,” Chief Executive Officer Mark Durcan said in a Bloomberg Television interview today. “While we’re not quite as big
TechnologyJuly 4, 2012
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Visual effects firm looks to U.S. for growth
CTO says SoftBank, Nexon-backed FXGear prefers IPO to takeoverIt is rare in Korea to see a special effects technician with a Ph.D. such as Choi Kwang-jin working on movies or animations.The chief technology officer of FXGear, a Korean visual effects software firm, is the exception in an industry generally seen as beneath those with higher degrees.But the situation is different in the United States. Studios such as Industrial Light & Magic, a special effects house founded by Star Wars producer Ge
IndustryJuly 4, 2012
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Higgs-like particle found in 'milestone' for mankind
(MCT)After a quest spanning nearly half a century, physicists on Wednesday said they had found a new sub-atomic particle consistent with the Higgs boson which is believed to confer mass.Rousing cheers and a standing ovation broke out at the European Organization for Nuclear Research (CERN) after scientists presented data in their long search for the mysterious particle.The new find is "consistent
TechnologyJuly 4, 2012
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Samsung regrets U.S. ruling on Galaxy Tab
Samsung Electronics Co., the world’s largest mobile phone maker, expressed disappointment Tuesday at a U.S. court’s rejection of its request to lift a ban on sales of its Galaxy Tab 10.1 tablets in America.The U.S. District Court of Northern California on Monday turned down Samsung’s request to delay a preliminary injunction against sales of its Galaxy Tab 10.1 devices in the U.S. market until it files an appeal.The court issued the injunction last week, accepting Apple Inc.’s claim that Samsung
July 4, 2012
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FTC puts another firm on watch list
Korea’s antitrust watchdog said Tuesday that it has placed one more company on its watch list that limits mutual investments and loan guarantees.The Fair Trade Commission said the number of corporate affiliates on the list stood at 1,851 of 63 business groups this month, up from 1,850 tallied in the previous month.Eight companies were newly added to the list as they were created or conglomerates bought stakes in other companies.Meanwhile, seven firms were removed from the list, the watchdog note
July 4, 2012
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Samsung keeps lead in U.S. mobile market
Korean tech giant Samsung Electronics Co. maintained the top spot in the U.S. mobile phone market, strengthening its supremacy as the world’s leading handset manufacturer, data showed Tuesday.The company’s market share in the United States came to 25.7 percent during the three-month average period ending in May, up 0.1 percentage point from three months earlier, according to U.S. analytics firm comScore Inc. The study surveyed around 30,000 smartphone and non-smartphone mobile subscribers aged 1
July 4, 2012
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Korea, China open 2nd round of FTA talks
Korea and China began their second round of free trade talks on Tuesday to discuss the scope of the deal and other issues, Seoul’s Trade Ministry said.During the three-day meeting on Korea’s southern island of Jeju, both sides will also discuss how to set up working groups on each segment, according to the ministry.In early May, the two countries announced the launch of formal free trade negotiations, expecting the talks to take two years.The neighboring countries earlier agreed that the talks o
July 4, 2012
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Seoul shares up 0.35 percent on stimulus hope
South Korean stocks closed 0.35 percent higher on Wednesday as speculations over stimulus measures continued to bolster investor sentiment, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 6.63 points to 1,874.45, gaining for a second straight session.Trading volume was moderate at 332.6 million shares worth 4.5 trillion
July 4, 2012
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Apple reportedly plans smaller iPad to compete with Google Nexus
Apple Inc. plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said, to help maintain dominance of the tablet market as Google Inc. and Microsoft Corp. prepare competing handheld devices.The new model will have a 7-8 inch screen, said the sources, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, o
TechnologyJuly 4, 2012
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Dinosaur feathers revise image as lizards
A well-preserved squirrel-tailed dinosaur fossil found in Germany suggests all dinosaurs had some sort of feathers, a researcher said.The 150-million-year-old fossil found in a Bavarian limestone quarry dubbed Sciurumimus albersdoerferi was likely a young megalosaur, a group of large, two-legged meat-eating dinosaurs, National Geographic reported Monday.“I was overwhelmed when I first saw it. Even apart from the preservation of feathers, this is certainly one of the most beautiful dinosaur fossi
TechnologyJuly 4, 2012
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University sues over early graduation
(MCT)A German university is suing a student for lost income because he finished his bachelors and masters degrees in only 20 months.The School of Economics and Management in Essen is asking the court to make former student Marcel Pohl, 22, pay an extra $3,772 after he obtained his degrees in only three semesters instead of the usual 11, The Local.de reported Tuesday."When I got the lawsuit, I thou
July 4, 2012
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IMF says S. Korea has limited room to cut key rate
South Korea's central bank has limited leeway to cut its key interest rate as Asia's fourth-largest economy remains dogged by high inflation expectations, the International Monetary Fund said Wednesday.The IMF said in a report that given sluggish growth, high unemployment and downside risks, more monetary easing should be considered for some advanced economies, with the possible exception of Canad
July 4, 2012
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Video games can improve employee health
Employers are using health wellness video games to promote health and save employers direct and indirect healthcare costs, U.S. researchers say.Bill Ferguson, editor-in-chief of Games for Health Journal wrote in an editorial that wellness programs using health games could have a significant impact on human well-being and the costs, pain and suffering of preventable illnesses and conditions.Video g
TechnologyJuly 4, 2012
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Seoul shares open higher on U.S. gains
South Korean stocks got off to a strong start on Wednesday, boosted by overnight gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 10.5 points, or 0.56 percent, to 1,878.32 in the first 15 minutes of trading.Foreign investors continued to scoop up shares, and are set to become net buyers for the third straight session. Retail investors, however, opt
July 4, 2012
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Korean retailers' sentiment falls for Q3
South Korean retailers' confidence for the third quarter fell slightly due to persistent concerns about sluggish economic growth, a poll showed Wednesday.The retail business survey index came to 103 for the July-September period, down from 105 tallied for the last quarter, according to the survey of 943 retailers by the Korea Chamber of Commerce and Industry (KCCI).Despite the dip, the index has r
July 4, 2012
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Hanwoo farmers worried about uncertain market
Kim Kee-Seong has operated a small ranch with about 100 prized Hanwoo cattle in the Hoengseong countryside in eastern Gangwon Province, about 137 kilometers east of Seoul, for the past 30 years. Housed in pens just a few yards from his front porch, the cows are close to the farmer, now well into his 60s, both literally and figuratively. “I grew up on a farm in Hoengseong,” he says. “These cows are my livelihood and they represent a tradition for my family and for all of Korea.” Indeed, the free-
IndustryJuly 3, 2012