S. Korean financial firms vulnerable to security breaches: regulator

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S. Korean financial firms vulnerable to security breaches: regulator

  Some South Korean financial firms may be vulnerable to security breaches because they use an open source operating protocol that can expose customers' passwords and encryption keys, local regulators said Wednesday.   The Financial Information Sharing and Analysis Center (ISAC), which ...

Updated : 2014.04.16 21:26

Arrest warrant sought for former Lotte Homeshopping chief

  Prosecutors sought an arrest warrant Wednesday for a former head of television-based retailer Lotte Homeshopping Co. on charges of receiving kickbacks from suppliers.   After summoning Shin Heon for questioning earlier in the week, the Seoul Central District Prosecutors' Office asked ...

Updated : 2014.04.16 20:41

Growing elderly population big risk for economy: HSBC

The country appears to have already transitioned into an aging society and the rapid growth of the elderly population could be the biggest potential challenge for economic growth in the next few decad...

Updated : 2014.04.16 20:33

GS Group to invest 3 trillion won this year

The management of GS Group, said Wednesday that the energy, retail and construction conglomerate would invest 3 trillion won ($2.9 billion) in its core and new businesses this year.The 2014 investment...

Updated : 2014.04.16 20:33

Chipmakers’ outlook brighter despite falling prices: analysts

South Korea’s top chipmakers are expected to see their earnings improve in 2014, with rising demands recouping losses from the falling prices of dynamic random access memory chips, analysts said Wednesday.Data from market researcher DRAMeXchange said that the fixed price of DDR3 2 Gb 256M...

Updated : 2014.04.16 20:32

Hyundai Rotem preferred bidder for $1.4b Ivorian railroad project

An international consortium, including the Korean train maker Hyundai Rotem, has recently been named the sole preferred bidder for building a 1 billion euro ($1.4 billion) railway in Abidjan, the capital city of Ivory Coast, company officials confirmed Wednesday.On Friday, the Ivorian tran...

Updated : 2014.04.16 20:32

Government to speed up spending to stimulate economy

The South Korean government will speed up its scheduled spending in the first half of 2014 as part of efforts to revitalize the country’s economy, the finance minister said Wednesday.In a meeting with economy-related ministers in Seoul, Hyun Oh-seok said the government will front-load 60 ...

Updated : 2014.04.16 20:32

Eximbank opens center to study inter-Korean economic development

The state-run Export-Import Bank of Korea said Wednesday it has opened a center to study inter-Korean economic development and integration to support the government policy on national unification.Eximbank said the center will study issues related to North Korean economic development and pr...

Updated : 2014.04.16 20:31

Large firms demand too much info from job seekers: survey

Large businesses in South Korea demand too much information from job applicants that violate privacy and can be used for discriminatory purposes, such as their religions, marital status and the academic backgrounds of their parents, a survey showed Wednesday.A team of four college students...

Updated : 2014.04.16 20:31

Samsung’s talks on leukemia victims stalled again

Samsung Electronics on Wednesday rejected blame for ongoing confusion on talks over the deaths of workers from diseases possibly linked to working conditions at its semiconductor plants, claiming an about-face by victims’ families and their advocates. “We are extremely puzzled by the rea...

Updated : 2014.04.16 20:31

Stocks close flat on China’s GDP report

Stocks on the local bourse ended flat after the market fluctuated throughout Wednesday on China’s latest gross domestic product report, analysts said. The benchmark Korea Composite Stock Price Index ended at 1,992.21, up 0.06 point from Tuesday. Trading volume was light at 224 million sha...

Updated : 2014.04.16 20:31

LG Electronics to produce mobile application processors

LG Electronics, Korea’s second- largest consumer electronics company, is moving to develop mobile application processors for smart devices, raising speculation that it is aiming to start rebuilding its long-lost semiconductor business, industry sources said.An LG Electronics spokesperson ...

Updated : 2014.04.16 20:31

LG Uplus to adopt Huawei gear

LG Uplus, Korea’s third-largest mobile carrier, and Huawei, a Chinese telecommunication equipment and solutions provider, said Wednesday that they have made a technical breakthrough allowing for more...

Updated : 2014.04.16 20:31

Reading key to improving imagination

Playing video or computer games can positively affect children, contrary to the popular belief that they can make them violent and corrupt their minds.Many scientists believe that games can help kids ...

Updated : 2014.04.16 20:28

Crisis or opportunity? Pantech at crossroads

A rocky road stretches ahead for Pantech, the nation’s smallest handset maker that is struggling to stay afloat in a quickly saturating smartphone market. There are now talks of foreign companies suc...

Updated : 2014.04.16 20:27