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Korea conducts crackdown on smuggled NK products

North KoreaOct 25, 2016

South Korea on Tuesday conducted a crackdown on smuggled North Korean products coming in from third countries in a move to faithfully enforce United Nations sanctions and its unilateral punitive actions, government officials said.Seoul's unification ministry and eight government agencies carried out a joint surveillance on North Korean products which are suspected of entering South Korea disguised as goods manufactured in other countries, they said.The ministry said that officials inspected thre
BMW Korea recalls 23 vehicle models

TransportOct 25, 2016

The local unit of German carmaker BMW is recalling 23 of its models for defects in devices that control emissions, the South Korean government said Tuesday.BMW Korea voluntarily started the recall on Oct. 12 on two gasoline and 21 diesel models for problems detected in the exhaust gas recirculation device and other equipments, according to the Ministry of Environment.The recall affects a total of 11,548 vehicles, including the BMW 520d model, which was the best selling imported car in South Kore
Korea, Europe join forces to develop, verify advanced GPS system

DefenseOct 25, 2016

South Korea and France's Thales Group will jointly develop a new augmentation system for global positioning systems that will greatly reduce the scope and rate of errors in existing GPS, the transportation ministry said Tuesday.The country's state-run Korea Aerospace Research Institute will sign a $40 million deal with the French firm on Wednesday to jointly develop a new and advanced Satellite Based Augmentation System for GPS by 2021, according to the Ministry of Land, Infrastructure and Trans
Popularity of European upmarket home appliances on rise in Korea

IndustryOct 25, 2016

The number of South Koreans who have purchased European upmarket home appliances from online vendors abroad is on the rise, a survey showed Tuesday, representing a growing popularity of high-quality and stylish appliances. According to the survey by G9, an online shopping website, sales of European kitchen appliances more than quadrupled on year for the July-September period.Sales of European household appliances also jumped more than six times on year for the quarter, the survey said. Among pop
인도 102세 요가 고수, ‘무시무시’ 유연성

Oct 25, 2016

인도 서부 나식 지역의 힌두교 축제에서 102세 고령의 요가 수련자가 믿기 힘든 요가 동작을 보여 화제가 되고 있다.　　백세가 넘는 나이에도 다리를 접어 머리 뒤로 넘기고 물구나무를 서는 등 근력과 유연성이 젊은이보다 뛰어난 것을 확인할 수 있다.　　일부 네티즌이 그가 실제 102세인지 의구심을 표하자 영상 제작자는 “8세 때부터 매일 요가를 수련하면 노화를 방지할 수 있다”고 주장했다.　 (사진=유튜브)　(khnews@heraldcorp.com)　　
Military demands more funds in 2017 to counter growing NK threats

DefenseOct 25, 2016

South Korea's military said Tuesday it needs more funds in 2017 to bolster the country's defense readiness posture in the face of growing nuclear and missile threats from North Korea. In a parliamentary meeting to discuss the budget, Defense Minister Han Min-koo asked for an additional 712.4 billion won ($626 million) for the new year over the 40.3 trillion won requested earlier."We are requesting the increase so as to quickly put in place the country's ability to counter growing provocations by
Exec of Korea's largest lobby summoned over scandal-ridden foundations

IndustryOct 25, 2016

An executive of the country's largest big business lobby group was summoned Tuesday as prosecutors accelerated their investigation into two non-profit foundations, allegedly linked to a controversial figure with ties to President Park Geun-hye.Lee Yong-woo at the Federation of Korean Industries was called in by the Seoul Central District Prosecutors' Office to face questions over the Mir Foundation and K-Sports Foundation. Established in 2015 and early this year, the two foundations are suspecte
Health insurance outlays up 6.6% in 2015

Oct 25, 2016

South Korea's health insurance outlays rose to 57.95 trillion won ($50.98 billion) last year, an annual report showed Tuesday, partly on the back of more senior citizens requiring medical attention.According to the report by the Health Insurance Review and Assessment Service and the National Health Insurance Corporation, the total amount to cover medical examinations, hospitalizations and drug purchases rose 6.6 percent on-year in 2015.On average, a South Korean visited a hospital or clinic a to
Oxy Reckitt Benckiser CEO stands before court, apologizes to victims

Social affairsOct 25, 2016

The chief of Oxy Reckitt Benckiser attended a court hearing Tuesday, apologizing to the victims of the company's toxic humidifier sterilizer products.Ata Safdar appeared at the Seoul Central District Court as the representing director of the Korean unit of the British firm, which is standing trial as a defendant on charges of violating the Act on Fair Labeling and Advertising. "Firstly, I want to say that we are sorry for the great tragedy that is happening," he said during the trial. "I want to
'Solo drinkers' on the rise after anti-graft law takes effect

Social affairsOct 25, 2016

A growing number of people prefer drinking at home after an anti-graft law has put a damper on drinking parties and entertainment events, boosting sales of alcoholic beverages and snacks at convenience stores, industry officials said Tuesday. The law, which took effect on Sept. 28, bans public servants, educators and journalists from receiving free meals valued over 30,000 won ($26.50), gifts worth more than 50,000 won or congratulatory or condolence money of more than 100,000 won.(123rf)CU, a m
SK hynix's Q3 profit beats forecast as chip prices rebound

Oct 25, 2016

SK hynix Inc., a South Korean chipmaker, reported a 47.5 percent plunge in its third-quarter operating profit that exceeded expectations, thanks to a steady recovery in memory chip prices.SK hynix said in a regulatory filing that it posted an operating profit of 725.9 billion won ($640.6 million) for the July-September quarter. The result beat expectations. The mean estimate of analysts surveyed by Yonhap Infomax, the financial news arm of Yonhap News Agency, forecast that SK hynix would post an
PM calls on gov't to carry out follow-up measures for constitutional revision

PoliticsOct 25, 2016

Prime Minister Hwang Kyo-ahn called on the government Tuesday to carry out follow-up measures to prepare for a constitutional revision, such as soliciting public opinion, a day after President Park Geun-hye's surprise proposal for an amendment to the basic law.Prime Minister Hwang Kyo-ahn (center) speaks during a Cabinet meeting at the central government complex in Seoul on Oct. 25. (Yonhap)"In order to fundamentally address pending issues facing our nation and achieve sustainable development, i
LG demands Germany's Miele stop using its washer technology

TechnologyOct 25, 2016

South Korean home appliance maker LG Electronics Inc. has demanded that Miele stop using the technology it created for steam washing machines, claiming that the German appliance maker allegedly infringed on LG's patents. LG sent a letter to Miele last week, urging the company to take amicable action to resolve the matter and respond by the end of this month. "After reviewing a response from Miele, we will review possible legal measures if necessary," said an LG official. The official, who spoke
Hyundai Motor Group executives to take 10% paycut to tide over crisis

TransportOct 25, 2016

South Korea's leading automaking group Hyundai Motor Group said Tuesday that executives of its 51 affiliates will have their salaries cut by 10 percent starting this month as part of efforts to tide over worsening business conditions at home and abroad."Executives of the group's affiliates are moving to voluntarily cut their salaries," said a high-ranking official at Hyundai Motor Group told Yonhap News Agency. "As far as I know, it (paycut) will start this month."The automaking group's paycut f
Korean Airlines swings to black in Q3

IndustryOct 25, 2016

Korean Airlines Co., South Korea's top air carrier, said Tuesday that it swung to the black in the third quarter of the year, from a year earlier, largely thanks to lower oil prices and increased passengers.Net profit reached 428 billion won ($376 million) in the July-September period, compared with a loss of 510 billion won a year earlier, the company said in a regulatory filing.Sales increased 4.7 percent on-year to reach 3.06 trillion won over the cited period, while operating income reached