The Korea Herald

Most Popular

1
Industry experts predicts tough choices as NewJeans' ultimatum nears
2
Jung's paternity reveal exposes where Korea stands on extramarital babies
3
Samsung entangled in legal risks amid calls for drastic reform
4
Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
5
[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
6
Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
7
[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
8
[Health and care] Getting cancer young: Why cancer isn’t just an older person’s battle
9
Prosecutors seek 5-year prison term for Samsung chief in merger retrial
10
UN talks on plastic pollution treaty begin with grim outlook

NewsletterSubscribe

Start your day with a roundup of key stories from The Korea Herald with news and comment on all that’s happening in Korea.

Hynix presents smart mobile solutions
Firm goes forward with first reshuffling move following SK takeoverHynix Semiconductor said Monday that it introduced smart mobile solution products at the Mobile World Congress in Barcelona for the first time in partnership with its new owner SK Telecom.With a theme of “Hynix enabling a ubiquitous world,” the global top memory chipmaker features mobile solutions like 20 nanometer class 4 gigabit DDR3 dynamic random access memory and 30 nanometer class 4 gigabit LPDDR3 DRAM, said Hynix officials

IndustryFeb. 27, 2012
Regulator toughens lending rules at cooperatives, insurers
The financial regulator on Monday announced fresh rules to toughen household lending at non-bank financial companies, putting the brakes on burgeoning private sector debt, which is nearing 900 trillion won ($801 billion).Lenders in the secondary banking sector, including cooperatives, have been ordered to limit lending money to non-members of the credit firm to less than one-third of their total loan, according to the Financial Services Commission. The National Agricultural Cooperative Federatio

Feb. 27, 2012
Seoul shares dip 1.42% on higher oil prices
South Korean stocks dropped 1.42 percent Monday on concerns that rising oil prices may hurt the South Korean economy and corporate earnings, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 28.73 points to end at 1,991.16. Trading volume was moderate at 629 million shares worth 5.48 trillion won ($4.85 billion) with decliners leading gainers 570 to 275.“Rising oil prices could be a big burden to the local economy and hurt corpora

Feb. 27, 2012
MTU, Asiana clinch deal for engine maintenance
MTU Maintenance Hannover, a German engine maintenance services provider, said Monday it has won an order from Asiana Airlines to provide maintenance, repair and overhaul services.Under the deal, MTU will be in charge of the Korean carrier’s CF6-80C2, an engine made by General Electric Aviation to power its Boeing 767 and 747 fleets, for the next five years. The deal terms were not made public.The German company is an MRO unit of MTU Aero Engines, an engine manufacturer. The deal is its first wit

IndustryFeb. 27, 2012
KEB to replace all executives
Korea Exchange Bank dismissed all nine of its executives Monday, under the business policy of its new CEO Yun Yong-ro to revamp management structure.His move comes a month after financial regulators endorsed Hana Financial Group’s takeover of KEB from Lone Star Funds.Yun, the first KEB CEO under the wing of Hana Financial, notified the nine executives, including four deputy CEOs, that their terms would not be extended.The executives were at their posts during Lone Star’s management of the bank f

Feb. 27, 2012
Sales of imported premium beer swell
Local brewers expand imports of Japanese beers to raise profitabilitySales of imported premium beer are on the rise with a growing number of young consumers preferring foreign beers to domestic brands, prompting Korean brewers to pump up imports of Japanese brands.About 45 million liters of imported beer was sold in Korea last year, up 11 percent from a year ago. Japanese beer was the most popular with 18,252 tons worth $12.35 million sold, followed by Dutch (9,509 tons worth $10.92 million) and

IndustryFeb. 27, 2012
Samsung expects to sell 10 million units of Galaxy Note this year
There’s no negotiation with Apple: mobile chiefBARCELONA, Spain ― Samsung Electronics became the No. 1 smartphone maker for the first time last year, selling more than 17 million units globally. The company also sold a record 330 million handsets during the year.This year Samsung is aiming even higher, at doubling the sales target for its mobile devices. And the key strategy behind the goal is appealing to consumers with emotional marketing. “Cellphones are not just mobile devices but also have

IndustryFeb. 27, 2012
LG aims to lead global LTE market
After dismal years, mobile chief upbeat for 2012BARCELONA, Spain ― LG Electronics, which became the world’s second-largest player in the Long Term Evolution phone market last year, hopes to revive its hey-day as a hit phone maker, the company’s mobile chief said Sunday. “2012 will be the year of LTE, HD and quad-core. Based on the growth momentum in the fourth quarter last year, we aim to become the global No. 1 in the LTE market,” Park Jong-seok, CEO of LG’s mobile communication unit said durin

IndustryFeb. 27, 2012
Childbirths in Korea rise in 2011
The number of children born in Korea increased for the second straight year in 2011, amid concerted efforts to bolster the country’s low birthrate, a government report showed Monday.According to the report by Statistics Korea, the number of newborns totaled 471,400 last year, a gain of 1,200, or 0.3 percent, from the 2010 tally. The gain was attributed mainly to more couples opting to have their first and third child last year.Reflecting this, the number of first and third-borns edged up 1.7 per

Feb. 27, 2012
Korean or Western titles, that is the question
The Korean title system, the Western title system or a mix of both; the question is, which one is better? In the end, it depends on what the company wants to achieve.“Some people might say that one is better than the other, and the more we study it, the more we find that there is no system that supersedes any other,” said Zuellig Pharma Korea president Christophe Piganiol.The head of the pharmaceutical giant has been studying the different systems with the aim of better understanding what drives

Feb. 27, 2012
Report: Women have rare egg-producing stem cells
For 60 years, doctors have believed women were born with all the eggs they’ll ever have. Now Harvard scientists are challenging that dogma, saying they’ve discovered the ovaries of young women harbor very rare stem cells capable of producing new eggs.If Sunday’s report is confirmed, harnessing those

TechnologyFeb. 27, 2012
Korea braces for oil price spike
With crude prices spiraling out of control amid tensions surrounding Iran, concerns are surfacing of a fresh oil shock. Korea’s benchmark Dubai crude jumped to $121.57 a barrel, the highest since August 2008, on Singapore’s spot market on Friday. Brent crude, a global yardstick, touched a nine-month high of $125 a barrel.Korea, the world’s fifth-largest crude buyer, imports almost of its oil needs.Runaway fuel costs are threatening to push up consumer prices and in turn jeopardize the central ba

Feb. 26, 2012
Government to back SK Biopharm’s epilepsy drug development
SK Biopharmaceuticals Co. said Sunday it plans to carry out clinical tests for its epilepsy drug candidate in four countries as part of a government program to cultivate blockbuster drugs, targeting the international market. The drug unit of Korea’s third-largest conglomerate has since 2006 been developing a medicine for intractable epilepsy, a set of chronic neurological disorders typified by seizures. The product, codenamed YKP3089, is currently in small-scale second-phase trials in the U.S. T

IndustryFeb. 26, 2012
Hyundai ends bus supply contract with Korindo
Indonesian firm strives to renew contract as market share shrinksHyundai Motor co. stopped shipping commercial vehicles to Korindo Group of Indonesia, ending its largest contract in Asia, the company said on Sunday. The world’s fifth-biggest carmaker refused to renew its contract to produce trucks and buses for Korindo since the deal expired on June 15, the Jakarta-based Korean-run developer said. “The commercial vehicle contract with Hyundai expired last June and we have been waiting for Hyunda

IndustryFeb. 26, 2012
Korean tech firms hope to prevail at Barcelona fair
Samsung rolls out Galaxy Note 10.1; LG bets big on Optimus LTE, quad-core phonesBARCELONA, Spain ― The Mobile World Congress, the biggest gathering of the global mobile phone industry, will kick off its four-day run on Monday in Barcelona, Spain. Some 1,400 telecom carriers and handset makers are expected to exhibit their newest products on the showroom floors of the Fira de Barcelona, the city’s convention center, on Feb. 27-March 1. Many visitors may have been disappointed by Samsung Electroni

IndustryFeb. 26, 2012
Oil prices, eurozone crisis to affect Seoul shares
Korean shares’ direction next week will most likely be affected by rising oil prices and lingering worries over the eurozone debt problems, analysts said Saturday.The benchmark KOSPI ended this week at 2,019.89, down 0.17 percent or 3.58 points from a week earlier.The KOSPI got off to a strong start, driven by the news that China lowered the reserve ratio for its banks. During the week, Wall Street rallies also bolstered investor sentiment here as the Dow Jones industrial average cracked the 13,

Feb. 26, 2012
Korea to tighten household loan rules for non-bank lenders
Korea will toughen rules on household lending by non-bank financial companies in an effort to put the brakes on its rapid growth, the financial regulator said Sunday.Non-bank financial firms, including cooperatives and insurers, will be required to lower their loan-to-deposit ratios to less than 80 percent in two years and to increase credit loss provisions for high-risk loans, the Financial Services Commission said in a statement. Even as the average loan-to-deposit ratio at non-bank financial

Feb. 26, 2012
ICON Media Communications forges partnership with Seoul IR Consulting
ICON Media Communications, an investor relations firm with offices in New York and Los Angeles, announced that it has formed a strategic partnership with Seoul IR Consulting.The tie is aimed at promoting strategic communications counsel between the U.S. and Korean financial markets while enhancing the brand of the two firms in the investment community.“This partnership marks a milestone for ICON as we continue to expand our footprint into the global markets,” said Debra Chen, founder of ICON. “B

Feb. 26, 2012
Standard Chartered sees deepening labor dispute
The labor dispute in Standard Chartered Bank Korea has entered a critical phase again as its management recently failed to reach a compromise with the union.The union of Standard Chartered has threatened to stage a general strike amid the standstill in their negotiations with the management.Though the unionized workers, who went on a walkout between June and August, returned to work, the dispute has not been resolved, according to bank spokespeople.“They are working at branches. But their protes

Feb. 26, 2012
Hana Financial to pick new chief this week
Chairman could oversee Hana’s emergence as Korea’s No. 1 financial groupHana Financial Group plans to select the successor to incumbent chairman Kim Seung-yu, whose term expires in late March, in the coming days.The new chairman will be the second figure to head Hana Financial since Kim took on the top post in 2005.Further, Kim’s successor will take on the role of integrating different corporate culture of Hana Bank and Korea Exchange Bank, which was acquired by the group this month, over the ne

Feb. 26, 2012

3861
3862
3863
3864
3865
3866
3867
3868
3869
3870