Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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Opposition leader awaits perjury trial ruling
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STX readies capital for Hynix stake purchase
Shipbuilding giant STX Group on Sunday said it has sold 250 billion won ($236 million) of overseas assets to secure the funds to purchase a 15 percent stake in Hynix Semiconductor against its bidding rival, SK Group. STX Europe Holding, a wholly owned subsidiary of the STX Group, sold an almost 20 percent stake of its Singapore-based STX OSV Holdings to an investment fund to help pay for the $2.3
July 10, 2011
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Woongjin Coway enjoys boon from national health trend
Woongjin Coway Co., already the industry leader in water and air purifiers, is enjoying a second bloom. The Seoul-based company logged sales of 1.51 trillion won ($1.43 billion) and 228.8 billion won of operating profits last year, marking the 12th consecutive year of record-high sales.“In May, we reached record-high sales in just a month. We are entering our second heyday,” Woongjin Coway CEO H
IndustryJuly 10, 2011
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Hyundai Motor donates mobile clinics to Africa
Hyundai Motor Company president Chung Jin-haeng (front, third from left) and chief of the firm’s Ethiopian branch Haile Gebresellasie (center), pose with Health Minister of the African nation Tedros Adhanom after donating two mobile clinic trucks equipped with X-ray machines. (Hyundai Motor)Hyundai Motor Co. donated mobile clinic vehicles to African nations Monday to step up its corporate social r
July 10, 2011
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EU law firms poised to enter Korea
Local practices forced to sharpen edge, but experts say legal fees won’t necessarily fallArmed with money and reputation, major European law firms are eyeing the South Korean market gradually opening up with the EU-FTA that came into effect on July 1. Globally renowned firms such as DLA Piper ― the world’s third-largest law firm ― along with Clifford Chance and Allen & Overy are among those lookin
IndustryJuly 10, 2011
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Nissan, Toyota ‘quiet’ cars must sound alerts under U.S. rule
A General Motors Co. Chevrolet Volt electric vehicle is taken for a test drive through the Presidio in San Francisco, California (Bloomberg)Nissan Motor Co., General Motors Co. and other makers of electric and hybrid vehicles will be required by U.S. safety regulators to install warning systems that will automatically sound alerts to pedestrians. The U.S. National Highway Traffic Safety Administra
MobilityJuly 10, 2011
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Kia Motors sales up 21.8% in June
Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its sales in June rose21.8 percent from a year earlier as a jump in overseas sales offset decreased domestic demand.The company sold 217,315 vehicles overall last month, compared with 178,391 vehicles sold a year earlier. Domestic sales dropped 5 percent on-year to 42,200 units in June, but exports spiked 30.7 percent to 17
MobilityJuly 10, 2011
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GM goes full throttle in race against rivals
Mike Arcamone, CEO and President of GM Korea (Ahn Hoon/The Korea Herald)The race is on. GM Korea, the nation’s No.3 carmaker, is out to challenge its big-time rival Hyundai Motor Co. by betting big on superior quality and designs.“We’re going to challenge. We’re going to challenge our competition in all the segments, but in particular in areas where we have not competed before,” Mike Arcamone, CEO
MobilityJuly 10, 2011
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Hyundai launches new Sonata turbo with upgraded performance
SEOUL, July 10 (Yonhap) -- South Korea's leading automaker Hyundai Motor Co. said Sunday that it has launched a new Sonata turbo model with upgraded performance and competitive options designed to meet consumer demands.The new model of the top selling mid-size sedan has a 2.0-liter gasoline direct injection (GDi) engine that produces a maximum horsepower of 271 and 37.2 kilogram-meters of torque.
IndustryJuly 10, 2011
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Seoul stock market expected to continue upward march
South Korean stocks are expected to continue their upward march next week on the back of favorable market conditions, analysts said Saturday. The country's key stock index, the KOSPI, gained 2.57 percent, or 54.61 points, this week to close at 2,180.35 on Friday, despite the lingering debt crisis in Europe and a rate hike by China. Next week is packed with major events such as the central b
July 9, 2011
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Obama under pressure over FTAs, TAA
WASHINGTON -- The leader of the U.S. House of Representatives on Friday voiced clear opposition to President Barack Obama's push to package three pending trade pacts with a worker assistance program. "We expect in the House to move four separate bills, and I would hope they would heed our advice," House Speaker John Boehner (R-Ohio) told reporters. His firm stance came a day after key commi
July 9, 2011
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Hana, Lone Star agree to extend KEB deal
Hana Financial Group and Lone Star Funds reached an agreement to extend a deal to buy Korea Exchange Bank within six months, Hana said Friday.Hana, the nation’s No. 4 banking group, held a meeting of its board members later in the day to review the terms of the deal.In November, Hana struck a deal with the U.S. buyout fund to acquire its controlling 51 percent stake in KEB for 4.69 trillion won ($
July 8, 2011
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BAT Korea cuts price of ‘Dunhill SWITCH’
British American Tobacco Korea said it reduced the price of the superpremium “Dunhill SWITCH” by 200 won to 2,800 won ($2.60) from Friday.BAT Korea reportedly said the company took the action in consideration of consumers’ burden on the price of the cigarettes.The company introduced the new brand with “RELOC” inner wrapping on the local market on June 7. (cheesuk@heraldm.com)
IndustryJuly 8, 2011
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KCC officials in U.S. for Apple, Google probe
The Korea Communications Commission said Friday it has dispatched a group of officials to the headquarters of Apple Inc. and Google Inc. in the U.S. for its ongoing probe over location data storage.The investigation committee, which consists of six experts from the KCC and the Korea Internet & Security Agency, will overhaul how the two tech giants utilize resources stored in their servers until Ju
IndustryJuly 8, 2011
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Korea-EU FTA to put Seoul at public health crossroads
Friedrich-Wilhelm GausePharmaceuticals might not have been the most discussed sector before the Korea-European Union Free Trade Agreement came into effect from July 1. However, it is forecast to have a huge influence on public health since the deal is deeply connected to drug pricing of original drugs and will eventually affect national health insurance finance. “It will be a great opportunity for
July 8, 2011
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From doctor, IT whiz to educator
Ahn Cheol-soo has polled as one of the figures young Koreans most look up to.(Ahn Hoon/The Korea Herald)Ahn committed to planting entrepreneurship in young hopefulsBehind Korea’s leadership in the high-tech world are a number of business innovators, technology wizards and far-sighted investors.Ahn Cheol-soo leads the pack with his success, acumen and a dramatic life story that combined to make him
IndustryJuly 8, 2011
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More than half who switch jobs regret it
Workers often turn to other companies for better opportunities but more than half of those who switched jobs have regrets, according to research.In a poll conducted by Incruit, a local online recruitment website, about 58.7 percent of those who changed jobs are unsatisfied and willing to go back to their previous employment.The major reasons provided was “the original work turned out to be better,
July 8, 2011
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Consumer demand for white wine soars in H1
(MCT)SEOUL, (Yonhap) -- South Korean demand for white wine jumped in the first half of the year as consumers sought more diversity in their preferred brands, a leading local wine retailer said Friday.Winenara Co. said 17 white wine brands were included among the top 100 best sellers at its nationwide stores in the January-June period, compared with just five a year earlier. The company sold 330,00
IndustryJuly 8, 2011
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U.S. antitrust crackdown costs Korean firms $1.6b
Korean antitrust regulator advises firms to be prudentKorean companies in the United States have paid about 1.7 trillion won ($1.6 billion) in fines for price-fixing and four out of the top 10 highest-paying companies were from Korea, a ranking official of the state-run antitrust regulator said Wednesday.The Fair Trade Commission on Wednesday explained the business environment of the U.S. on collu
IndustryJuly 7, 2011
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BC Card fights back against ‘domineering’ Visa
BC Card Co., a local payment services provider, is stepping up its offensive against Visa, condemning the global credit card giant for pressing unfair business activities onto its Korean partners.On Monday, BC Card filed a report with the Fair Trade Commission over the U.S.-based company’s overseas fee system. “Visa is conducting illegal activities against the Monopoly Regulation and Fair Trade Ac
IndustryJuly 7, 2011
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PyeongChang Winter Olympics to be a massive boost for Korean economy
Banners celebrating PyeongChang’s selection as the host of the Winter Games in 2018 are hung across a road near the Alpensia Resort in PyeongChang on Thursday. (Yonhap News)PyeongChang’s hosting the Winter Olympics in 2018 will bring massive economic benefits for the country.According to estimates based on a report compiled in 2008 by the Korea Institute for Industrial Economics and Trade, hosting
IndustryJuly 7, 2011
