Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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[Photo News] Cooperation in ski
May 6, 2015
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[Photo News] Paris Baguette in Manhattan
May 6, 2015
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S. Korea keeps top spot in new shipbuilding orders in April
South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., clinched the largest amount of new orders in April, retaining the top spot for a third consecutive month, data showed Wednesday.According to the data compiled by global researcher Clarkson Research Services, South Korean shipyards bagged new orders totaling 533,000 compensated gross tons last month.Chinese rivals took orders worth 295,000 CGTs, followed by Japanese ones with 149,000 CGTs, the data showed.South Korea
May 6, 2015
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Strict online game regulation for youth incurs 1.16 tln won loss
A strict regulation that bans nighttime online gaming for children has led to a 1.16 trillion won($1.07 billion) loss in the South Korean games industry, a report showed Wednesday. Also known as the "forced shutdown system," online game operators are currently prohibited from providing services to children under 16 from midnight to 6 a.m. For those under 18 years of age, parents have the option to request such a ban.Since the regulation took effect in 2012 to reduce gaming addiction, the size of
May 6, 2015
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FTC to work with EU on Qualcomm's alleged abuse of market power
South Korea's antitrust watchdog said Wednesday that it has agreed to cooperate with the European Union on the possible abuse of essential patents by Qualcomm Inc., a dominant player in the global wireless telecommunications chip market.The understanding reached at meeting between Shin Young-son, the Fair Trade Commission's secretary general and Cecilio Madero Villarejo, the deputy director-general of antitrust at the EU's Competition Directorate earlier in the week in Sejong, touches on problem
May 6, 2015
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Dongkuk Steel considers closing another plate mill
Dongkuk Steel Mill, the country’s third-largest steelmaker, is considering closing down a shipbuilding plate factory as part of its restructuring efforts, the company said Tuesday.According to its regulatory filing, Dongkuk is reviewing a plan to stop its factory operation in Pohang, North Gyeongsang Province. The line has an annual production capacity of 1.9 million tons.If the factory closes, it will follow the first plate mill’s closure in 2012, and only one plate mill with a 1.5 million-ton
May 5, 2015
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Shopping channels refuse banned-herb refunds
South Korea’s major TV shopping companies are refusing to provide unconditional refunds for a popular traditional herb product found to contain an illegal substance, sparking an uproar from customers seeking compensation. Last week, the Ministry of Food and Drug Safety announced that Korean biotech firm Natural Endotech ― which specializes in making health products using a medicinal herb called Cynanchum wilfordii or “Baeksuho” in Korean ― used a cheaper, toxic ingredient, Cynanchum auriculatum
May 5, 2015
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[SUPER RICH] Superrich of the toy world
Toys hold a special place in children’s hearts. Children beg their parents and save pocket money for them. They sometimes hold onto them until adulthood.Although there are only a few globally renowned toy companies, their presence is felt all over the world.Some companies have sold their stocks after the founders’ death and have been operating under professional managers. Others have continued to run under the founder’s family. Kjeld Kirk Kristiansen, former president and CEO of Lego Group. (Blo
May 5, 2015
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[SUPER RICH] Gates, Slim, Buffett find fun in traditional toys
People tend to think of yachts, supercars or private jets when they imagine billionaires’ toys. But some superrich have been shown spending their leisure time with unexpectedly common items that can be easily found in local stores.Microsoft founder Bill Gates and Berkshire-Hathaway Inc. chairman Warren Buffett are known to enjoy table tennis in their down time. The two were seen playing a peculiar game of ping pong on one occasion at the annual Berkshire Hathaway Inc. shareholders meeting in Neb
May 5, 2015
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S. Korea to build hydro power plant in Indonesia
South Korea's state-run power supplier said Tuesday it has started construction of a hydro power plant in Indonesia that will begin commercial operation in 2017. Korea Midland Power (KOMPIO), one of six power generation subsidiaries of the state-run Korea Electric Power Corp., said it will invest 28 billion won ($25.9 million) to build the 55 megawatt-water plant on Sumatra Island, Indonesia.It is the second of its kind that the Korean power supplier has exported to the Asian nation. Under a dea
May 5, 2015
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Hyundai Motor recalls 2,580 cars in U.S.
South Korea's top automaker Hyundai Motor Co. will recall 2,580 units of its 2015 Accent vehicles in the United States for an error in the model's occupant detection system, according to the U.S. transportation authority's website Tuesday. "In very cold temperatures, the occupant detection system (ODS) may not be able to determine if a child restraint seat is in the front passenger seat," said a recall report by the U.S. National Highway Traffic Safety Administration. "If the ODS fails to detect
May 5, 2015
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[Graphic News] Apple, Xiaomi jump in smartphone sales
Samsung Electronics showed a decrease in smartphone sales while other players enjoyed an increase in the first quarter of this year, data showed Monday.According to Hong Kong’s Counterpoint Research, Samsung’s sales reached 83.3 million smartphones during the period, a 6.2 percent decrease from a year earlier.Meanwhile, other companies increased smartphone sales compared to last year ― Apple’s sales increased by 40 percent with 61.2 million phones, while local competitor LG increased by 25.2 per
May 4, 2015
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POSCO subsidiary applies for court receivership
Pos-HiaL, an alumina supplier in which POSCO has a 51 percent stake, filed for court receivership last week, company officials said. It is the first time in the steelmaker’s 47-year history that one of its affiliates has been put under court supervision.Pos-HiaL was established in 2012 as a joint venture between POSCO M-Tech, POSCO’s raw materials arm, and alumina manufacturer KC Corporation. The company, however, has faced continued losses due to low demand and oversupply in the LED market.Acco
May 4, 2015
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DuPont settlement to boost Kolon’s profits: analysts
South Korean textile and chemical company Kolon Industries is expected to see profits rise this year thanks to its legal settlement with global giant DuPont last week over the alleged theft of company trade secrets, analysts in Seoul said Monday.Kolon’s yearly operating profits are likely to rise by 53.4 percent to reach some 258.9 billion won ($239 million) this year due to improved business conditions, according to Meritz Securities.Last Thursday, Kolon pleaded guilty to the charge of conspiri
May 4, 2015
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Alitalia to resume flights to Korea in June
ROME ― Italian carrier Alitalia will resume services to Korea after 18 years with its Incheon-Rome direct route to launch on June 4. Alitalia, a member of the SkyTeam airline alliance, will operate the new route three times a week with 250-seat A330 aircraft and offer three travel classes ― Magnifica (business class), Classica Plus (premium economy class) and Classica (economy class). “Under the vision to build the ‘new Alitalia,’ we have put a priority on the expansion of the Asian network (for
May 4, 2015
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Brokerage cuts target share price of Naver
Local securities firm Daishin Securities slashed South Korea’s top portal operator Naver’s target share price by 11 percent in a report released Monday. The securities firm revised the portal’s target price down to 670,000 won ($620) from the 750,000 won set three months ago on the grounds that Naver’s dominant power is expected to decline in the mobile environment. Daishin said Naver‘s flagship messaging app Line is likely to see its growth potential weaken in games and advertising. “Naver used
May 4, 2015
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Global symposium on electric vehicles kicks off in S. Korea
An international conference on electric cars and the related technology kicked off on Monday with experts and officials of major carmakers gathering to discuss how the electric car market will be shaping up in the future, organizers said.The International Electric Vehicle Symposium, first held in 1969, is a worldwide event for global scholars and industry officials to share the leading trends and technologies regarding sustainable mobility. This year's conference will be held at the Korea Intern
May 4, 2015
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KEPCO CEO plans ‘global energy belt’
AMMAN ― Korea Electric Power Corp. CEO Cho Hwan-eik declared the creation of a “global energy cooperation belt” last week, pledging to foster the state-controlled firm as a world-class power supplier and power plant designer in the coming years. “We could start from the Americas, and then move on to Africa and the Middle East, to go all the way back to Asia. KEPCO will take the lead and relevant Korean companies could join us in this overseas expansion,” Cho told reporters in the Jordanian capit
May 3, 2015
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[Herald Interview] ‘Korea is ready for McLarens’
Buying a McLaren vehicle is buying “technology and craftsmanship,” according to David Mclntyre, the newly appointed Asia-Pacific director of the British supercar maker.The “small” U.K.-based supercar maker is finally making inroads in the Korean market, having launched its first showroom in southern Seoul on Wednesday. McIntyre has long experience in Korea’s high-end auto import market. Until recently he headed the local branch of Jaguar Land Rover, and the brands saw massive sales rises under h
May 3, 2015
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IPTV subscribers increase nearly sevenfold in 6 years
The number of Internet Protocol TV subscribers rose by nearly seven times as of the end of last year since the system's launch in 2008, the Korea Communications Commission said Sunday.The number jumped to 10.83 million as of the end of 2014, up 25.8 percent from 8.61 million a year earlier, according to data released by the telecom watchdog. The comparable figures were 1.59 million in 2008, 2.37 million in 2009, 3.65 million in 2010, 4.93 million in 2011 and 6.54 million in 2012.KT Corp., one of
May 3, 2015