Most Popular
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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Seoul city opens emergency care centers
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Opposition chief acquitted of instigating perjury
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[Exclusive] Hyundai Mobis eyes closer ties with BYD
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Samsung entangled in legal risks amid calls for drastic reform
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[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
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[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
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Kangbuk Samsung Hospital to open international clinic
Kangbuk Samsung Hospital said Thursday that it will open an international clinic on Feb.16 at the Samsung office building in Taepyeongno, central Seoul.Located 500 meters from Seoul City Hall, the clinic expects to cater mostly to expats and foreign tourists. It will share facilities and infrastructure with the Samsung hospital.The hospital conducts joint studies with Johns Hopkins University and has been praised as one of the leading medical institutions in preventative medicine. All its system
TechnologyFeb. 2, 2012
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Black spots on the face
Also termed “flowers in the land of the dead,” black spots on the face are generally referred to as seborrheic keratosis or senile lentigo, and are gradually formed as the skin ages. There are many people who think that black spots on the face occur only in old age. But they can also occur in younger people who frequently perform outdoor activities and are exposed to ultraviolet rays.The signs of skin aging such as black spots or wrinkles progress because of the natural aging process or the effe
TechnologyFeb. 2, 2012
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Fat doctors slow to diagnose obesity
Study suggests that obese doctors are more generous to patients in need of weight lossEncouraging a healthy weight has become essential in Korea. According to the Ministry of Health and Welfare, about 26.5 percent of women and 35.6 percent of men are considered to be either overweight or obese by WHO standards. Health authorities have estimated that the domestic weight loss industry will reach around 2 trillion won ($1.8 billion).The World Health Organization regards those with a body mass index
TechnologyFeb. 2, 2012
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Favorable perception of firms inches up in H2: poll
Koreans’ favorable views toward local companies edged up in the second half of 2011, helped by public expectations that businesses will create more jobs, a poll showed Thursday.The survey by the Korean Chamber of Commerce and Industry revealed that the corporate favorite index rose to51.2 points in the six-month period, up 0.4 points from the January-June period.The figure represents a rebound after numbers started falling from a high of 54 reached in the first half of 2010. In the second half o
Feb. 2, 2012
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Foreign firms take to SNS to reach public
Companies eager to utilize social media networking for marketing, brand awarenessMore and more Korean companies are using social networking sites as effective marketing tools. Some multinational companies and chambers of commerce in Korea are also following this trend to boost their visibility and profitability in one of the world’s most wired countries.The reasons to use social networking sites such as Facebook and Twitter are numerous.Liam Lusk and Carl Kwan from Kwalus, a public relations mar
Feb. 2, 2012
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German court rejects Apple’s bid to ban Samsung’s mobile devices
Korean tech giant Samsung Electronics Co. said Thursday that a German court has rejected Apple Inc’s bid to impose a sales ban on its tablet computer and the new Nexus smartphone in the European country.The Munich Regional Court on Wednesday rejected Apple’s request to impose a preliminary sales ban on Samsung Electronics’ Galaxy Tab 10.1 N and Nexus smartphones, according to Samsung.Apple claimed that the Korean tech firm has infringed on its patent rights related to touch screen technology, bu
TechnologyFeb. 2, 2012
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Foreign reserves hit 5-month high in Jan.
Korea’s foreign exchange reserves rose to a five-month high in January as the stronger euro and other non-dollar currencies increased the conversion value of those assets, the central bank said Thursday.The country’s foreign reserves reached $311.34 billion last month, up $4.94 billion from the previous month, according to the Bank of Korea. The January foreign reserves stood at the second highest level in history since the foreign reserves hit a record high $312.19 billion in August of 2011. It
Feb. 2, 2012
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Dispute rages over credit card bubble
Card firms’ asset jump, more consumers spend on credit cardsAs Korea’s credit card companies rush to increase their assets, worries are mounting over whether another bubble might be in the offing.For Korean policymakers, the warning signs in the credit card industry bring back painful memories of 2002, when 4 million card holders defaulted and the entire economy was jeopardized as the bubble burst.Credit card companies are eager to get bigger. As of the end of December, the combined assets of cr
Feb. 2, 2012
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WCO establishes Asia-Pacific liaison office in Seoul
The Korea Customs Service celebrated the opening of the World Customs Organization’s regional intelligence liaison office for Asia and the Pacific in Seoul on Thursday.Some 100 Korean and international guests, including Zhu GaZhang, director of WCO Compliance and Facilitation Directorate, attended the ceremony at the Imperial Palace Hotel in southern Seoul.The regional office, located within the Customs Brokers Association Building in Nonhyeon-dong, southern Seoul, will support intelligence exch
IndustryFeb. 2, 2012
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LG Uplus increases LTE data capacity
LG Uplus has begun offering new data plans for the Long Term Evolution service from Thursday, almost doubling the data usage capacity offered by rival companies.The third-largest player in the local telecom market said it has already provided the faster network service at cheaper prices than SK Telecom and KT Corp. Amid a surge in data consumption among LTE smartphone users, the company said it has decided to increase the data capacity for same-priced monthly payment plans. Users of the 34,000
IndustryFeb. 2, 2012
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Business leaders to visit Middle East
The Korea Chamber of Commerce and Industry said Thursday that it will dispatch a business delegation to Turkey, Saudi Arabia and Qatar to align with President Lee Myung bak’s visit to the three countries starting Friday.The economic delegation, which will go on an eight-day business trip, will seek out cooperation possibilities in the fields of resources, construction, engineering, atomic power and new renewable energy with its Saudi Arabian counterpart.The delegation will be made up of about 30
IndustryFeb. 2, 2012
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Chaebol’s overseas resources rush unprofitable so far
Only 22 of 78 companies posted net profits last yearA slew of Korea’s largest conglomerates rushed into natural resource development abroad over the past four years with government support, but seven out of 10 lost money.Seventy-eight companies under the nation’s top 30 private business groups in asset value were involved in overseas resource development as of last September, according to Chaebul.com. Only 22 of them, or 28.2 percent, however, reaped net profits. Kim Young-hwan, chief of the par
IndustryFeb. 2, 2012
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POSCO TJ Park Foundation names three winners of annual prizes
POSCO TJ Park Foundation on Thursday named a nano-medicine expert as the winner of its annual TJ Park Prize for science. Cheon Jin-woo, professor of chemistry at Yonsei University, won the award for his research in the use of nanotechnology for medical purposes, according to the steelmaker. Last year he developed a nano thermotherapy that can burn cancer cells without hurting other tissue, which is expected to enhance the treatment of brain cancer and prostate cancer.Kwak Jong-moon, principal o
IndustryFeb. 2, 2012
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Commission adopts scheme for profit-sharing
A panel on shared growth of large and small businesses agreed Thursday to adopt a new system to give extra points to companies that share benefits with their suppliers starting next year.The panel, headed by former Prime Minister Chung Un-chan, grades large enterprises based on their support of smaller partner companies so that those with higher marks get more government incentives and have an advantage in winning public orders.The nation’s largest businesses had locked horns with Chung over his
Feb. 2, 2012
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Citroen to reenter Korea in April
French carmaker Citroen will reenter the Korean market in April with its DS3 models, according to its local distributor Hanbul Motors Corp. on Thursday.The launch will resume the import of the French brand under the PSA Peugeot Citroen Group after a decade-long hiatus.“Citroen will resume imports of its cars starting in April this year. Pricing won’t be revealed until right before the launch, but other details will be confirmed by late February,” PR manager Kim Ju-young said. Citroen showcased
IndustryFeb. 2, 2012
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Dog insurance relaunched
A pet insurance program for dog owners wanting to cover health care expenses at vet clinics is gaining in popularity after being relaunched in November.Insurance sources said about 120 dogs have been subscribed to the insurance program in just two months.According to Samsung Fire & Marine Insurance Co. its Familiaris Dog Insurance pays veterinary costs if the dog becomes ill or injured in an accident. The coverage also includes paying indemnities at an annual fee of 500,000 won ($444,000) for on
IndustryFeb. 2, 2012
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Shares up 1.28% on eased Europe woes
Korean stocks rose 1.28 percent Thursday as investor sentiment was buoyed by eased eurozone debt concerns, analysts said. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 25.06 points to close at 1,984.3. Trading volume was heavy at 625.8 million shares worth 8.6 trillion won ($7.7 billion) with gainers outnumbering losers 536 to 284.“Good news from Europe removed some of the biggest worries for investors,” said market analyst Kwak Jung-bo
Feb. 2, 2012
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Hynix posts operating loss for Q4
Hynix Semiconductor posted 2.55 trillion won ($2.27 billion) in total sales and an operating loss of 167 billion won in the final quarter of last year, triggered by the dampened global economy and the weak demand for PC memory chips.The world’s second-largest memory chipmaker said its sales from October-December dropped 7 percent year-on-year and the net loss recorded 240 billion won, a slight improvement from the previous quarter.The consolidated sales for 2011 reached 10.4 trillion won, a 14 p
IndustryFeb. 2, 2012
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Executives’ buy boosts POSCO shares
POSCO shares staged a brisk rise on Thursday after its executives bought stock en masse to display their confidence and help stabilize the market. The world’s fourth-largest steelmaker said its 73 executives led by chief executive Chung Joon-yang purchased a total of 4,351 shares, worth more than 1.82 billion won ($1.6 million). Chung, who was recently elected to a second term, and president Choi Jong-tae each added 100 to their existing 1,614 and 1,786 shares. Another 70 officials acquired betw
IndustryFeb. 2, 2012
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Correction of the article ‘FSC staff opposed chief on Lone Star ruling’
On the first page in its Nov. 30, 2011 edition, The Korea Herald, citing financial sources, reported that Financial Services Commission (FSC) chief Kim Seok-dong pushed ahead with the decision to impose a “mild sanction” on Lone Star Funds despite some working-level officials’ resistance.But it was not confirmed that FSC chief Kim pushed ahead with the decision and that there was resistance from working-level officials. We hereby correct the article. This correction was mediated by The Press Arb
Feb. 2, 2012