Most Popular
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Seoul blanketed by heaviest Nov. snow, with more expected
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NewJeans to terminate contract with Ador
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NewJeans terminates contract with Ador, embarks on new journey
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Seoul snowfall now third heaviest on record
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Korean Air gets European nod to become Northeast Asia’s largest airline
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Samsung shakes up management, commits to reviving chip business
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Hybe consolidates chairman Bang Si-hyuk’s regime with leadership changes
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Heavy snow of up to 40 cm blankets Seoul for 2nd day
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How $70 funeral wreaths became symbol of protest in S. Korea
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Chaos unfolds as rare November snowstorm grips Korea for 2nd day
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CEOs rush for receivership to save own skin
Filings for court’s bankruptcy protection rise sharply after law revision in 2006The number of companies filing for court receivership has increased 10-fold in the last five years, raising questions over whether CEOs did it to save their own necks while incurring losses for creditors, investors and customers.Seven-hundred-and-twelve companies filed for court receivership last year, up from 76 in 2006 when the bankruptcy law was revised to guarantee major shareholders’ management rights and great
Sept. 28, 2012
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Popular mobile game developer prepares a special event
Mobile puzzle game “Anipang” is winning tremendous popularity from Korean smartphone users based on the 60 million subscribers through instant messenger Kakao Talk.Anipang, which can be played via Kakao Talk’s mobile gaming platform “Kakao Game Center,” recorded 15 million downloads and 8 million daily users in 2 months since its release.The puzzle game features a system in which users have to align three or more animal figures such as rabbits and cats within 60 seconds. In the game, the users a
TechnologySept. 28, 2012
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Samsung retains No. 1 spot in world handset market in Aug.
South Korean tech giant Samsung Electronics Co. retained the top spot in the global mobile phone market in August on the back of steady sales of its products worldwide, industry data showed Friday.According to the data released by Hong Kong-based Counterpoint Technology Market Research, Samsung topped the world's handset market last month with a market share of 29 percent.The research firm attribu
IndustrySept. 28, 2012
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Volcano in N. Korea showing signs of activity
A volcano on the border of China and North Korea is showing signs of increasing activity and could erupt in the next few decades, Chinese researchers say.A massive eruption of Baekdusan around 1,100 years ago spread ash and volcanic gases for 30 miles and left a 3-mile-wide crater atop the volcano, scientists said.Three smaller eruptions have occurred since then, the most recent in 1903, they said.Seismic activity, ground deformation and gas emissions recorded in a period of heightened activity
TechnologySept. 28, 2012
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Mars rover Curiosity finds signs of ancient stream
This image provided by NASA shows shows a Martian rock outcrop near the landing site of the rover Curiosity thought to be the site of an ancient streambed, next to similar rocks shown on earth. (AP-Yonhap News)The NASA rover Curiosity has beamed back pictures of bedrock that suggest a fast-moving stream, possibly waist-deep, once flowed on Mars _ a find that the mission's chief scientist called ex
TechnologySept. 28, 2012
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Woongjin Group crisis spooks market
The financial woes gripping Woongjin Group are expected to send ripples through Korea as yet another seemingly sturdy enterprise appears to be teetering on the cusp of bankruptcy. “It was a shock, a pure shock. I could not believe it because from all I’ve seen in ads, commercials and the news, Woongjin seemed to me as invincible. The company was literally a legend or at least one of the most fantastic success stories I know because it was built by a man who started out an ordinary salaried worke
IndustrySept. 27, 2012
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[Newsmaker] Once success story, founder of Woongjin in grave crisis
Everything Yoon Seok-keum touched seemed to turn to gold. He was a man who in just three decades, built a 6 trillion won ($5.3 billion) empire from the ground up, armed with nothing but a few good men and a natural gift for sales.But whether this success story will have a happy ending has become uncertain; Yoon’s company, Woongjin Group, recently filed for court receivership in a desperate bid to prevent a spreading bankruptcy after the group’s construction arm, Kukdong Construction, went down t
IndustrySept. 27, 2012
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China boasts prowess amid territorial disputes
China is revealing a show of confidence as it deals with a territorial dispute involving a group of islands known as Senkaku in Japan and Diaoyu in China. The country’s hard-line responses to Japan’s claims of ownership may be lined with the confidence that its national power overtakes Japan as the world’s second-largest economy.The average Japanese person is much richer than the average Chinese person, but various economic indicators show that China overwhelming outperforms Japan. By Park Min-y
Sept. 27, 2012
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Pioneer in wastewater treatment
Search for better solutions drives Boo-Kang Tech into a global playerThe Korea Herald, in collaboration with the Korea Environmental Industry & Technology Institute, is presenting a series of articles introducing small but promising environmental tech firms. The following is the fourth installment. ― Ed. Every challenge is an opportunity for growth. Or so many CEOs have preached to their staff. Yet, this overused, hackneyed saying best captures the essence of what made Boo-Kang Tech Co., or BKT,
CompaniesSept. 27, 2012
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Quantum Energy Co. eyes global markets
Quantum Energy Co. manufactures quilts, pads, pillow sets and other fabric-related products. But it is no ordinary textile firm: The Gyeonggi Province-based company aims to pioneer a new market with a substance that it claims generates quantum energy.The company has developed powder and cream-type substances by grinding the natural ore called Five-Colored Earth, mixing it with water and ripening the mix. The new material created through the process generates quantum energy.The company has develo
Sept. 27, 2012
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Tips for safe, injury-free hiking
Autumn is a perfect season for hiking and mountain climbing, with crisp and cool weather and colorful foliage. Yet, it is also peak time for hiking-related injuries, which can be life-threatening. According to the National Emergency Management Agency, of the 7,826 mountain accidents reported last year, more than a quarter were concentrated in two autumn months ― September and October. Although not as serious as to require a mountain rescue team, some hikers experience considerable pain and soren
TechnologySept. 27, 2012
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Growing pain
1. What is growing pain?Growing pain refers to the intermittent and uncomfortable pain in the muscles of the lower limbs in children. It usually affects both legs and causes the greatest pain in the front of the thighs, calves, the back of the knees and sometimes the buttocks. The pain is usually localized to a deep part of the limb and does not affect the whole limb. In older children who can describe the pain in more detail, it is said to feel like spasms of the legs, or a tingling feeling. Ty
TechnologySept. 27, 2012
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Shares gain on institutional buying
South Korean stocks rose 0.42 percent Thursday as institutional investors shook off market jitters and scooped up local shares, analysts said. The local currency gathered ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index added 8.26 points to close at 1,988.70. Trading volume was moderate at 686.6 million shares worth 4.65 trillion won ($4.15 billion) with gainers outstripping decliners 419 to 384. “Institutions led by pension funds seem to have been providing a shie
Sept. 27, 2012
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Hyundai Heavy Industries, Korean Air vie for KAI
Hyundai Heavy Industries has joined in the bidding competition to take over Korea Aerospace Industries, the nation’s sole aircraft manufacturer.While it had been widely expected that Korean Air would be the sole bidder, Hyundai Heavy, one of the nation’s 10 largest conglomerates, entered its bid to the state-run Korea Finance Corp. on Thursday.The Korea Finance Corp. holds a 26.41 percent stake in KAI as the largest shareholder. The state-run financier and three other major shareholders are movi
IndustrySept. 27, 2012
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KEPCO unit completes wind farm in U.S.
Korea South-East Power Co. (KOSEP), a South Korean state-run power firm, said Thursday it has completed a wind farm in the United States, becoming the first South Korean firm to operate a large-scale wind farm in the world's largest economy.KOSEP will operate the Novus wind farm with an annual capacity of 287,000 MWh in Oklahoma for 20 years. KOSEP is a unit of the state-run Korea Electric Power Corp.Forty wind power turbines were installed at the wind farm and started operation early this month
Sept. 27, 2012
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GS E&C wins $14m order from Tanzania
GS Engineering & Construction Corp., South Korea’s fourth-largest builder, said Thursday that it has won a $14 million order to build a power line and a substation in Tanzania.Under the deal with Tanzania Electric Supply Company, GS E&C will build a 70 kilometer-long power line that links Kilimanjaro to Arusha, the two regions in northern Tanzania.The South Korean company will also set up a 132 kV substation in Kyungi as part of the contract designed to provide a stable supply of power to the el
Sept. 27, 2012
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LG Display takes Samsung to court over OLED patents
LG Display on Thursday filed a lawsuit against Samsung Electronics, claiming that its rival infringed on its patents involving the organic light-emitting diode technology of its latest gadgets such as the Galaxy S3.LG Display held an urgent press conference and said it filed the suit at the Seoul Central District Court which said Samsung infringed seven of its patented technologies.The gadgets in dispute are Samsung’s Galaxy S2, Galaxy S3, Galaxy Note and the Galaxy Tab 7.7.“We decided to go ahe
IndustrySept. 27, 2012
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WHO: Watch closely for new virus related to SARS
LONDON (AP) -- Global health officials have alerted doctors to be on the lookout for new cases of a virus related to SARS but said there was no sign the disease was behaving like the killer respiratory syndrome that killed hundreds in 2003.Earlier this week, the World Health Organization announced the new coronavirus had been found in a critically ill Qatari man being treated in London as well as
TechnologySept. 27, 2012
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Conglomerates lack responsible management: FTC
Family owners of some business groups are still short of responsible management despite their influential status, according to data held by the antitrust regulator.“As a large portion families and relatives of conglomerate founders are not registered as board members, it is difficult for authorities to take legal actions against them for irregular practices,” the Fair Trade Commission said in a statement on Thursday.Further, the average proportion of top owners registered as board of directors t
IndustrySept. 27, 2012
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Costco riles customers by defying city ordinance
Rule breaker operates every Sunday, risks biggest-ever PR crisisKorean customers love shopping for American frozen food and confectionery at warehouse stores like Costco, and they do it at the cost of getting stuck in traffic every time they go.But there is one thing they can’t stand, and that is feeling like they are being taken for granted.Costco Wholesale Korea’s current position is to continue violating Seoul City’s rules that obligate large discount stores to close on the second and fourth
IndustrySept. 27, 2012
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