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Inspection begins for Korea’s water summit bid

IndustryJul 18, 2011

A panel of the World Water Council embarked on a three-day visit to Korea on Monday to assess the country’s bid for the 2015 World Water Forum, officials said.The world’s largest summit in the water-related industry fosters global collaboration on issues ranging from water supplies and sanitation to access rights. Korea announced its bid last year and is competing against Scotland’s Glasgow. Prime
Top British art school to hold workshop here

IndustryJul 18, 2011

The Royal College of Art, a prestigious London-based art school, plans to offer design workshops for Korean students, the Ministry of Knowledge Economy said Monday.Two week-long courses will take place July 18-22 in Seoul and July 25-29 in Daegu.These are the first events where students can directly learn from RCA professors here. The curriculum borrows from the institution’s innovation design eng
Strained inter-Korean ties unlikely to last: official

IndustryJul 17, 2011

Inter-Korean relations are unlikely to remain perpetually tense, a high-level government official said Sunday, signaling that the government is willing to continue efforts to improve ties despite recent troubles caused by the North's disclosure of details of secret talks with the South."The door to dialogue remains open," the official told reporters, requesting not to be named due to the sensitivi
Lotte candy, drug units to merge

IndustryJul 17, 2011

Lotte Confectionary Co. announced Sunday it plans to merge with Lotte Pharm Inc. in a bid to foster synergies in their health food business.The Korean snack and sweets maker will remain the largest stakeholder in its pharmaceutical unit as it already holds a 100 percent share. Lotte Aluminum Co. has a controlling stake in Lotte Confectionary with 15.29 percent.The merger, which needs statutory app
Korea starts extracting lithium from sea

Jul 14, 2011

Korea has completed the construction of its first offshore plant to extract lithium from seawater in a bid to supply spiraling demand for the scarce metal in the automobile and electronics industries.The “Seawater Lithium Research Center” located in Gangneung in the country’s east entered test-production and will develop technology to churn out 30 tons of high-purity lithium carbonate annually sta
Asia emerges as key exhibition market: UFI

IndustryJul 14, 2011

Asia’s increasing clout and resilience in the wake of an economic meltdown are steering growth of the exhibition industry, said Paul Woodward, managing director of UFI, the global association of the tradeshow business.Combined with the Pacific islands including Australia and New Zealand, he said the budding sector in Asia has expanded more than 50 percent over the past five years in terms of size
Trade pact to give Korean drinkers more choices for less

IndustryJul 13, 2011

European distilleries and wineries set out to aggressively tap the local market as a free trade agreement with Korea began scrapping tariffs on alcoholic beverages.Although the markets for wine and whisky have been booming in recent years here, heavy duties on imported bottles have limited choices of local drinkers. Under the deal, 15 percent tariffs on wine were removed on July 1, the first day o
N.Y. college Incheon campus OK’d

IndustryJul 13, 2011

SUNY at Stony Brook plans to open school in Songdo next Feb.The State University of New York at Stony Brook received the nod from the Incheon Free Economic Zone Authority for its plan to set up a campus in Songdo next year, the Ministry of Knowledge Economy said Wednesday.The U.S. institution plans to open graduate school classes at the Songdo Global University Campus in the Incheon FEZ starting i
Korea unveils action plans to cut emissions

IndustryJul 12, 2011

Government aims to slash transportation emissions to 34 percent below projected levelsKorea outlined action plans to tackle climate change on Tuesday, breaking down reduction targets for high-emitting sectors in the medium term.The pan-governmental plan was devised to put the country’s low-carbon, green growth initiatives in motion, which President Lee Myung-bak launched in 2009 with a goal of cut
KT&G market share nears 60%

IndustryJul 11, 2011

KT&G Corp. said Monday that its share in the local market has risen for the second quarter in a row to nearly 60 percent, thanks to robust sales of its new products and price hikes by rival tobacco firms. Korea’s top cigarette manufacturer said its 55.7 percent stake in the fourth quarter last year climbed to 58 percent in the first quarter this year, then to 59.8 percent in the second quarter. It
KCC officials in U.S. for Apple, Google probe

IndustryJul 8, 2011

The Korea Communications Commission said Friday it has dispatched a group of officials to the headquarters of Apple Inc. and Google Inc. in the U.S. for its ongoing probe over location data storage.The investigation committee, which consists of six experts from the KCC and the Korea Internet & Security Agency, will overhaul how the two tech giants utilize resources stored in their servers until Ju
From doctor, IT whiz to educator

IndustryJul 8, 2011

Ahn Cheol-soo has polled as one of the figures young Koreans most look up to.(Ahn Hoon/The Korea Herald)Ahn committed to planting entrepreneurship in young hopefulsBehind Korea’s leadership in the high-tech world are a number of business innovators, technology wizards and far-sighted investors.Ahn Cheol-soo leads the pack with his success, acumen and a dramatic life story that combined to make him
EU expert urges health care transparency

Jul 7, 2011

Maxim MaminKorea and the European Union should pursue integrated standards and regulations on medical equipment to maximize the benefits of a free trade agreement between the two regions, a senior European industry official said.The latest pact became effective on July 1, and eliminates tariffs on medical devices from the EU over seven years. But concerns remain among European manufacturers that e
KRIHS, World Bank sign deal for urban development

IndustryJul 7, 2011

Korea Research Institute for Human Settlements President Park Yang-ho (right) and the World Bank Group’s manager of the urban development unit Abha Joshi-Ghani, after signing an agreement to exchange resources on sustainable urbanization. (KRIHS)The Korea Research Institute for Human Settlements, a state-run think tank, said Thursday it has forged an agreement with the World Bank Group to share re
FTA to cut cosmetics, medical prices

IndustryJul 7, 2011

Competition is set to become intense between cosmetics and medical equipment firms in Korea and the European Union after the two regions’ free trade agreement came into effect on July 1.Though it will take up to seven years until all the tariffs are eliminated, Korean manufacturers are stoking fears that cheaper European products will erode their competitiveness in the market.European leaders, on