Technology transfer is one of the most sought-after forms of assistance for developing countries, but ASEIC thinks technology should be tailored for local needs to become more effective.ASEIC, which was established in 2011 with a mission of promoting eco-innovation at small and medium enterprises in Asia and Europe, adopts the concept of “appropriate technology” for its inclusive program. The program aims to provide technological aid to developing Asian countries, which will help raise their und

   Lottery sales in South Korea surpassed an annual government-set limit for the second straight year as more people bought tickets amid an economic recession, data showed Sunday.   Sales of lottery tickets totaled 2.91 trillion won ($2.71 billion) in the January-November period, exceeding the 2.87 trillion won ceiling recommended by the National Gambling Control Commission (NGCC), according to the data by government agencies.   If the trend continues, this year's lottery sales are expected to s

  Samsung Electronics Co. saw its market share in the tablet PC market nearly double in the third quarter from three months earlier as it moved to catch up with rival Apple Inc., data showed Sunday.   The South Korean tech giant's global market share reached 18.1 percent in the July-September period, compared with 9.2 percent in the previous quarter, according to the data by research firm Strategy Analytics.   Meanwhile, Apple's market share fell to 52.9 percent from 68.4 percent, narrowing the

Sales of wine at local discount chains outstripped those of soju for the first time, data showed Sunday, mirroring a changing trend in South Korea's drinking culture.   Wine sales surpassed those of the local alcoholic drink by 4.6 percent this year, according to the data by Lotte Mart, a discount chain arm of retail giant Lotte. Last year, sales of wine lagged behind those of soju by roughly 6 percent.   Wine sales stood at around 25 percent of soju sales in the first half in the early 2000s, b

South Korea's small and medium-sized enterprises (SMEs) forecast the country's economic growth to reach a record low next year since the 2008 financial crisis, a poll showed Saturday. According to a survey of 1,500 SMEs taken by the Korea Federation of Small and Medium Business (Kbiz), a majority of the companies polled predicted South Korea's economy will grow 2.9 percent in 2013, the lowest level since their 2009 prediction of 2.4 percent. Nearly 70 percent of the respondents regarded advanced

Taxis run by companies caused fewer car accidents after most of them installed black boxes, while a bill that requires all vehicles to be equipped with black boxes awaits parliamentary approval.The number of accidents involving company-run cabs fell 17.7 percent from 2007 to 20,331 last year, when most cabs were equipped with black boxes, according to the General Insurance Association of Korea and the Korea Transportation Institute.Starting with Incheon in 2008, local governments had black boxes

Petroleos Mexicanos, Mexico’s state- owned oil company, filed a $1.5 billion lawsuit against Siemens AG and South Korea-based SK Engineering & Construction Co., claiming the companies bribed Pemex officials to win and keep refinery construction projects.Siemens, which in 2008 paid $1.6 billion to settle a bribery investigation by the U.S. Securities and Exchange Commission, conspired with SK Engineering and a joint venture partner to bribe Pemex officials while bidding on a refinery modernizatio

Debts of households, companies and the government in Korea in the third quarter amounted to nearly triple the country’s GDP last year, data showed Friday.The financial liabilities of households, nonprofit organizations, non-financial companies and the government stood at 3.59 quadrillion won ($3.34 trillion) in the three months to September, up 49.2 trillion won from the previous quarter, according to the Bank of Korea data.This is about 2.9 times the nation’s GDP last year of 1.24 quadrillion w

South Korean stocks closed 0.39 percent lower on Friday as investor sentiment was dented by the stalled U.S. fiscal cliff talks, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 7.73 points to 1,995.04. Trading volume was light at 345.1 million shares worth 4.24 trillion won ($3.95 billion), with decliners outnumbering gainers 407 to 380.“Local shares edged down as investors were still concerned about the U.S. fiscal cliff iss

Key financial affiliates of South Korea’s No. 1 conglomerate Samsung Group have eliminated hundreds of jobs via voluntary retirement programs as part of efforts to cut costs amid a prolonged economic slowdown, industry sources said Friday.Samsung Fire & Marine Insurance Co., the country’s top non-life insurer, has recently implemented a voluntary retirement program and dismissed around 150 workers. Samsung Fire has enforced the program annually since 2009, according to the sources.The move comes

Hyundai-Kia on Friday denied a report that the two affiliate carmakers achieved a two-digit global market share for the first time last month.Citing LMC Automotive’s data, Korea Investment & Securities analyst Suh Sung-moon said Hyundai Motor and affiliate Kia Motors together reached a global market share of 10.1 percent last month.Hyundai Motor spokesman Lee Dong-hyung said, however, that the figure 10.1 percent was inaccurate as it was made based on LMC’s estimate of retail auto sales worldwid

U.S. jury finds LG, Apple did not breach video-data patent