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LG OLED TV gets top grades in U.S. consumer review

IndustryJun 9, 2016

South Korean tech firm LG Electronics Inc.'s organic light-emitting diode TV has received the top grade from a U.S. consumer review magazine, the publication showed Wednesday.In a recent review by Consumer Reports, the 55-inch LG OLED TV, dubbed the OLED55E6, has received the highest marks among 204 rival models with 84 points.The magazine said the LG model gets top scores for "very good color accuracy and unlimited viewing angle" with no particular flaw.Another LG Ultra OLED TV, dubbed the 65EF
Gov't ministries team up to develop drones, self-driving cars

TechnologyJun 9, 2016

South Korea's ICT and transport ministries agreed Thursday to step up cooperation in developing drones, self-driving cars and smart cities.The Ministry of Science, ICT and Future Planning and the Ministry of Land, Infrastructure and Transport are two key government organizations in charge of exploring the nation's fresh growth engines.Top ministry officials held a discussion session on Thursday and attended a demonstration of drones at the Gwangnaru Han River Park in eastern Seoul.ICT Minister C
Samsung Heavy mulls rights issue in self-rescue plans

IndustryJun 9, 2016

Samsung Heavy Industries Co., the world's third-biggest shipbuilder by order backlog, is considering issuing shares to raise funds amid an extended industry slump, the company said Thursday. "We are mulling over a capital increase as part of our self-rescue programs. But the size and the timeframe for the rights issue are not decided yet," the company said in a regulatory filing.The size of the capital increase will be decided in late June after its main creditor Korea Development Bank completes
Daewoo Shipbuilding bags $580 mln order

IndustryJun 9, 2016

Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Thursday that it has clinched a US$580 million order to build four carriers for a Greek shipper. Under the agreement with Maran Tankers Management, a unit of Greece's largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding plans to deliver two liquefied natural gas carriers by 2019 and two very large crude carriers by 2017.The latest deal will raise the number of ships delivered or to be delivered by the So
Institute develops new emission reduction tech for diesel cars

IndustryJun 9, 2016

A state-funded research institute said Thursday that it has developed a new technology that helps diesel cars reduce soot emissions by nearly 95 percent and improves air quality.The Korea Institute of Machinery and Materials said it has completed 60,000-kilometer on-road tests on a diesel car equipped with the newly developed diesel particulate filter and a plasma burner.The institute said the new system can be applied to vehicles around next year after winning government certification.A PDF is
Korea succeeds in 75-ton rocket engine thrust test

ScienceJun 9, 2016

South Korea has succeeded in a ground combustion test for the first- and second-stage engines of its domestic space rocket, a related agency said Thursday.The 75-ton thrust engine test was conducted "smoothly" as planned a day earlier at the Naro Space Center located in Goheung, South Jeolla Province, according to the Korea Aerospace Research Institute. The 75-ton liquid engine is a core technology for the Korea Space Launch Vehicle (KSLV)-II."The duration of combustion was 75 seconds," it said.
Incentive tours boost Korean MICE industry

IndustryJun 9, 2016

A growing number of foreigners have visited South Korea for travels related to meetings, incentives, conferences and exhibitions over the past year, having a ripple effect across the nation's tourism industry, the state-run Korea Tourism Organization said Thursday. South Korea has become a major incentive travel destination in Asia as its vibrant culture and advanced technology have attracted more travelers from various nations.The KTO said a series of big incentive tours by major Asian companie
KT Music to launch South Korea's first virtual reality music service

TechnologyJun 9, 2016

South Korean online music content provider KT Music unveiled the country's first virtual reality-backed music service on Thursday."Genie VR," a computer-generated multimedia service that plays the visuals alongside music content, will be provided on a separate section of Genie's mobile app, the music service maker and distributor said during a news conference.The affiliate of mobile carrier KT currently offers two music-streaming services -- Genie Music and Olleh Music. Wearing HMD, or a head mo
N. Korea launches 'weeding campaign' following rice-planting drive

North KoreaJun 9, 2016

North Korea has just launched a weeding campaign in rice paddies following a month-long drive to plant rice as part of a nationwide effort to boost the country's grain production.In an editorial, the North's main newspaper Rodong Sinmun called on the people to make a concentrated effort to root out weeds in the rice fields as required by the country's ruling Workers' Party. It said such measures are critical to increase rice production this year.The country has ended the spring rice planting sea
Ad firms raided over opposition lawmaker's alleged illegal political funds

Social affairsJun 9, 2016

Prosecutors raided local advertisement companies Thursday over allegations that they gave illegal kickbacks to a minor opposition party lawmaker during the parliamentary elections held in April.The Seoul Western District Prosecutors' Office raided about six offices over suspicions that Rep. Kim Su-min of the People's Party illegally received some 178 million won ($154,000) from the firms through forged contracts.Kim was in charge of the party's election campaign ahead of the April 13 general ele
Seoul shares marginally down on profit-taking

Jun 9, 2016

South Korean stocks closed 0.14 percent lower Thursday as individual investors opted to lock in gains from the previous day's increase despite earlier gains led by the central bank's surprise interest rate hike. The local currency inched up against the U.S. dollar. The benchmark Korea Composite Stock Price Index shed 2.91 points to finish at 2,024.17. Trading volume was moderate at 591.4 million shares worth 7.58 trillion won ($6.57 billion) with decliners far outpacing advancers 525 to 300.The
Hyundai Mobis receives temporary license plate for testing self-driving technologies

TransportJun 9, 2016

South Korea's top auto parts maker Hyundai Mobis Co. said Thursday that it has received a temporary license for testing self-driving technologies, the latest in a series of moves by Seoul to develop autonomous vehicles.It marks the first time that a local auto parts maker has received a license for test driving.Hyundai Motor, a flagship unit of the South Korean auto giant Hyundai Motor Group, received a license in March to test drive its Genesis luxury sedan equipped with a high-tech driving ass
Korea plans to breed 3,000 nonhuman primates for animal tests

ScienceJun 9, 2016

A state-run think tank on biotechnology said Thursday that it will breed as many as 3,000 nonhuman primates at a colony to be built by the end of next year in a bid to ensure a stable supply of the animals for the country's biomedical research.The state-run Korea Research Institute of Bioscience and Biotechnology held a groundbreaking ceremony to construct the Support Center for Nonhuman Primates Resources on a site of 72,000 square meters in the southwestern city of Jeongeup. The institute will
Korea condemns deadly terrorist attack in Kazakhstan

InternationalJun 9, 2016

South Korea on Thursday condemned a recent terrorist killing in Kazakhstan and pledged to continue efforts to root out terrorism in the world.On Sunday, three civilians and three soldiers were killed in a rampage by gunmen in Kazakhstan's northwestern city of Aktobe.Kazakh President Nursultan Nazarbayev said Wednesday the attackers were followers of pseudo-religious groups who had received instructions from abroad."Our government cannot hide our shock and concern over the loss of innocent lives
Nat'l Assembly picks Chung Sye-kyun as speaker

PoliticsJun 9, 2016

South Korea's National Assembly picked six-term main opposition Minjoo Party of Korea lawmaker Chung Sye-kyun as its new speaker Thursday after parties reached a deal on the parliamentary formation issue earlier in the week.Rep. Chung was voted in as the speaker for the first half of the 20th National Assembly at the plenary session of parliament.Chung will be obligated to sever party ties during his two-year term.The appointment of the speaker, which was deadlocked after the new parliament bega