Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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1 in 5 households to have breadwinner over 80 in 30 years
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Assembly to review disputed appointment of national soccer team coach
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New Fifty Fifty off to strong start
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Arrival of fall calls for more outdoor festivals
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Evicted guest burns down inn; 3 killed
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[Herald Interview] US election may unleash growth for Korea: Laffer
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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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DSME delivers 100th LNG tanker
[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering announced on July 25 that it has delivered its 100th LNG tanker. The company said that the 100th LNG tanker, Maran Amphipolis, set sail from its shipyard in Geoje, South Gyeongsang Province, on July 23. LNG tanker Maran Amphipolis / DSMEThe company began building LNG tankers in 1992, and delivered the first one in 1995. At present, there are 422 LNG tankers in operation. With orders for 50 LNG tankers remaining, DSME is set to be take th
IndustryJuly 25, 2016
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Park Sam-koo out to rebuild Kumho Asiana Group
[THE INVESTOR] Kumho Asiana Group chairman Park Sam-koo is seeking to buy back Kumho Buslines that was sold to a private equity fund in 2015 in a move to rebuild the company. Park is also said to be pushing to buy back Kumho Tire, another Kumho affiliate that is crucial for him to reclaim control of the group. He is expected to create a 1 trillion won consortium when the creditors put the company’s 42 percent stake up for sale in September. Kumho Industrial, Kumho Tire and Asiana Airlines repres
CompaniesJuly 25, 2016
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Renault Samsung to produce next-generation engines for Renault, Nissan cars
[THE INVESTOR] Renault Samsung Motors said on July 25 it will produce next-generation engines for Renault and Nissan vehicles at its Busan plant. The Korean unit of France’s Renault Group had been competing with other overseas plants of the Renault-Nissan Alliance, including those in China and Japan, to host the strategic partner firms’ new engine production facilities. Renault-Nissan Alliance’s 1.6-liter GDI turbo MR engine (left) and 2.0-liter GDI MR engine that will be produced at Renault Sam
MobilityJuly 25, 2016
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Korea to attend int'l trade fair in Kazakhstan in 2017
South Korea will attend an international trade fair to be held in the capital city of Kazakhstan next year to promote Korean-made goods in the world market, the trade ministry here said Monday.The Astana Expo 2017 will kick off in Astana on June 10, 2017, under the theme of "Future Energy" and run through Sept. 10, with 100 countries and 15 international organizations participating.South Korea signed a deal with the event organizer to take part in the world trade fair recognized by the Bureau of
July 25, 2016
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Home construction permits jump 9.3% in June
Construction permits issued for new residential buildings surged 9.3 percent from a year earlier in June as home construction permits in rural areas continued to rise, more than offsetting a sharp drop in the capital area, government data showed Monday.The number of new home permits issued came to 79,912 in June, compared with 73,102 in the same month last year, according to the data from the Ministry of Land, Infrastructure and Transport.The June tally marks a turnaround from a 7.3 percent decl
IndustryJuly 25, 2016
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Hyundai Heavy wins naval tanker deal from New Zealand
Hyundai Heavy Industries Co., a major shipbuilder, said Monday that it has signed a deal to build a naval tanker for New Zealand.The new tanker will replace a 30-year-old ship tasked with providing fuel, fresh water, disaster relief and other things to the navy. The new 12,000-ton tanker will be delivered by the end of 2019, Hyundai Heavy said.The new tanker will also be ice-strengthened for Antarctic operations, according to the shipbuilder.Hyundai Heavy did not unveil the value of the deal, ho
IndustryJuly 25, 2016
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LG Chem to jack up elastomer output
LG Chem Ltd., South Korea's top chemical maker, said Monday that it would spend some 400 billion won ($352 million) in expanding its output of elastic polymers in a bid to meet growing demand.The company said the new plant in Daesan, some 140 kilometers south of Seoul, will have a capacity to produce 200,000 tons of elastomer, which will raise its total output of the elastic polymer to 290,000 tons by 2018.Elastomers are elastic materials mostly used to make seals, high-quality adhesives, shock
IndustryJuly 25, 2016
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Korea, Iran to discuss launching joint fish farming venture
South Korea and Iran are set to begin discussions on boosting their bilateral cooperation in the fisheries sector that will include a joint fish farming venture, the Seoul government said Monday.The talks will be held in Iran from Thursday involving officials from South Korea's Ministry of Oceans and Fisheries and their Iranian counterparts.The talks will discuss follow-up measures for a memorandum of understanding for cooperation in the fisheries area signed in May during South Korean President
Foreign AffairsJuly 25, 2016
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Chinese investor may win bid for ING's Korea unit
A Chinese buyer is expected to win the bid to acquire South Korea's fifth-largest life insurer by assets, industry sources said Monday.MBK Partners, a South Korean private equity fund, plans to begin the formal bidding process early next month to sell off ING Life Korea. A deal that could fetch around $3 billion."Preliminary due diligence that started in June has almost finished," a source said. "A preferred bidder is scheduled to be selected through the bidding to open in early August."It's sha
July 25, 2016
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Seoul to set up N. Korean human rights foundation
South Korea will establish a foundation in September to better study human rights situations in North Korea and develop related policies, the unification ministry said Monday.The government plans to inject about 25 billion won ($22 million) annually into the 50-member foundation under the North Korean Human Rights Act, which is set to take effect Sept. 4 and designed to improve human rights abuses in the reclusive country, according to the ministry in charge of Seoul's Pyongyang policy.A group o
North KoreaJuly 25, 2016
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Korean seafood to be promoted at Chinese beer festival
The South Korean government is pushing to promote dried seaweed at a Chinese beer festival as part of its efforts to export the indigenous seafood snack overseas, the maritime ministry said Monday.The Ministry of Oceans and Fisheries said it is discussing with local beer manufacturers to provide the dried seaweed snack, known as "gim" in Korean, to the Qingdao International Beer Festival next month. The ministry aims to promote the dried seafood snack as going well with beer on the back of incre
IndustryJuly 25, 2016