Most Popular
-
1
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
2
'Culinary Class Wars' producers deny trying to spice up results
-
3
Ex-president's daughter investigated for drunk driving accident
-
4
Seoulites celebrate coexistence at Wellness Seoul 2024
-
5
Netflix, streaming platforms come under fire for loose ratings
-
6
S. Korea, Singapore seal supply chain agreement
-
7
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
8
20 minors registered as CEOs making over 100 million won
-
9
Yoon honors veterans of Korean War in trip to Philippines
-
10
K-pop CEOs sidestep key issues at National Assembly audit
-
Debts by self-employed rising quickly
Total debts owed by the self-employed in South Korea have snowballed in the past four years, far surpassing the growth pace of corporate and mortgage loans amid an economic slowdown, industry data showed Sunday. The combined loans to the self-employed by Korea’s five largest commercial banks amounted to 134 trillion won ($122.5 billion) as of end-October, adding 40 trillion won from the end of 2010, according to the data from banks. Loan totals were provided by Kookmin Bank, Shinhan Bank, Woori
Nov. 9, 2014
-
LG G3 to receive Android Lollipop update
LG Electronics said Sunday that it would start rolling out Google’s new Android 5.0 Lollipop upgrade for its flagship smartphone G3 this week starting in Poland.Other G3 users will be also able to receive the upgrade for the operating system from this month. “LG is absolutely committed to giving our customers the best mobile experiences available, and bringing Android Lollipop to G3 owners as soon as possible is a top priority,” said Park Jong-seok, president of LG Electronics’ mobile communicat
Nov. 9, 2014
-
Samsung Heavy to build floating LNG vessel off Equatorial Guinea
U.S.-based Excelerate Energy has signed an agreement to lead a floating liquefied natural gas, or FLNG, project off the coast of Equatorial Guinea, which includes the key participation of South Korean shipbuilder Samsung Heavy Industries, according to Excelerate’s website.A statement dated Nov. 6 said Excelerate Energy will act as the consortium’s leading contractor in the deal with London-based Ophir Energy to develop gas reserves in the Block R natural gas field west of Bioko Island. The compa
Nov. 9, 2014
-
Kolon’s honorary chairman dies
Lee Dong-chanLee Dong-chan, honorary chairman of Kolon Group, a major textile manufacturer that pioneered South Korea’s nylon production, has died after a long illness, the company said. He was 92.Born in Yeongil, North Gyeongsang Province, Lee established Kolon in 1957 after graduating from Japan’s Waseda University in 1944. He has since played a key role in the development of South Korea’s textile industry in the 1960s and 1970s.Lee served as head of the Korea Employers Federation in the 1990s
Nov. 9, 2014
-
Samsung chairman undergoing rehabilitation: group
Samsung Group said Sunday its chairman Lee Kun-hee is in stable recovery and undergoing rehabilitation six months into his hospitalization."(The chairman's) bodily functions, including cardiac function, have recovered to normal and are in stable condition. (He is) awake 15-19 hours a day and is receiving rehabilitation such as wheelchair exercise," the group said.Samsung's remark is the latest update from a month earlier, when group chief of communications Lee Jun confirmed that an elevator was
Nov. 9, 2014
-
Samsung Heavy Industries to build floating LNG vessel off
U.S.-based Excelerate Energy has signed an agreement to lead a floating liquefied natural gas (FLNG) project off the coast of Equatorial Guinea, which includes the key participation of South Korean shipbuilder Samsung Heavy Industries, according to Excelerate's website,A statement dated Nov. 6 said Excelerate Energy will act as the consortium's leading contractor in the deal with London-based Ophir Energy to develop gas reserves in the Block R natural gas field west of Bioko Island. The company
Nov. 9, 2014
-
Hyundai Motor chief drops out of rich list
Chung Mong-Koo, the chairman of Hyundai Motor Group, this year failed to make a list of the world’s 200 richest people after spending heavily on a 80,000-square-meter site in Gangnam, Seoul, where he plans to build a global business control tower. According to the Bloomberg Billionaires Index, the head of South Korea’s largest automaker, who has in the past ranked between 150th and 200th place, had dropped out of the list altogether. The index does not provide details of those who have not made
Nov. 7, 2014
-
Expo charts new design territory
A small booth in the shape of a bus was packed with people browsing through purses and handbags made with old issues of The Korea Herald, used plastic plates, discarded parachutes and other recyclable materials at an exhibition hall in KINTEX, Ilsan, Gyeonggi Province.The goods were a part of 2014 Design Korea, which kicked off Thursday for a five-day run.“I don’t think many people could tell that the pieces used to be just trash,” 24-year-old design student Kim Sul-hee told The Korea Herald. “N
Nov. 7, 2014
-
Hyundai Motor to recall 15,000 SUVs in China
Hyundai Motor, South Korea’s top carmaker, will recall more than 15,000 sport utility vehicles in China because of an engine defect, according to China’s quality watchdog Friday. Subject to the recall in mainland China are 15,373 Veracruz SUVs, which were produced between Jan. 8, 2007, and March 12, 2013, in South Korea and imported to China, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement Thursday. An “improper design of the cylinder head cover g
Nov. 7, 2014
-
Death of ex-Samsung employee linked to work environment: court
A Seoul court ordered the government Friday to compensate a woman who died of a brain tumor after working at a Samsung Electronics Co. plant, recognizing her as an industrial disaster victim as her death was linked to the plant's work environment. Lee Yun-jeong, 32, died in 2012. She was diagnosed with a malignant brain tumor in 2010 after having worked at a Samsung semiconductor plant in central South Korea from 1997 to 2003. The Korean Workers' Compensation & Welfare Service (KCOMWEL), a go
Nov. 7, 2014
-
Foreign bond ownership climbs back over 100 tr won
Bond ownership by foreign investors in the South Korean equity market surpassed 100 trillion won (US$91.5 billion) again after more than a year despite concerns about a possible rate hike in the United States, financial data showed Friday. According to the data compiled by the Financial Supervisory Service (FSS), offshore investors held a total of 100.42 trillion won worth of local bonds as of Tuesday, piercing the 100 trillion won level for the first time since it hit 100.25 trillion won on S
Nov. 7, 2014
-
US trade watchdog finalizes antidumping duties for Korean NOES products
The U.S. trade watchdog ruled Thursday that imports of non-oriented electrical steel (NOES) products from South Korea are harming the domestic industry, finalizing 6.89-percent antidumping duties on Korean products. The U.S. International Trade Commission said it has determined in a 4-1 decision that the U.S. industry "is materially injured" by NOES imports from China, Germany, Japan, Korea, Sweden and Taiwan at less than fair value. As a result, the U.S. Department of Commerce will issue cou
Nov. 7, 2014
-
Showbiz agencies splash into fashion
With the surging rise of the “Hallyu Wave” ― especially the unprecedented popularity of K-pop globally ― local entertainment agencies have been riding high for some years now. However, concerned at its sustainability amid future uncertainties, they now appear to be tactically diversifying their business portfolios.In particular, South Korea’s top three entertainment agencies ― YG Entertainment, SM Entertainment and JYP Entertainment ― who have been the driving force behind this cultural sweep.As
Nov. 6, 2014
-
Samsung SDS IPO exceeds subscription expectations
The initial public offering for Samsung SDS Co., an IT service unit of South Korea’s top conglomerate Samsung Group, was 134.19 times oversubscribed by retail investors before it closed its order book Thursday. More than 15.5 trillion won ($14.3 billion) in subscription deposits were accepted for shares in the IT solutions firm, according to Korea Investment Securities Co., one of Samsung SDS’s book runners. About 20 percent of the shares to be sold on the country’s main bourse had been availabl
Nov. 6, 2014
-
Mid-tier firms set sights on succession planning
A group of mid-tier South Korean companies underlined the growing need for the separation of ownership and control for a company’s longevity.“Time is nigh for Korean companies to study a model succession plan for their longevity, separating ownership and managerial control,” Kolmar Korea founder and chairman Yoon Dong-han said during a forum to discuss how to nurture South Korea’s model mid-tier champions. The Association of High Potential Enterprises of Korea, a newly created business associati
Nov. 6, 2014
-
S-Oil supports wounded firefighters
S-Oil, a leading refinery in Korea, said Thursday that it delivered incentives worth 60 million won ($55,200) to 30 firefighters who were injured while extinguishing fires and in emergency rescues.Among these firefighters, Kim Min-ha was offered 2 million won by the company for getting wounded in a fall while trying to rescue a trapped citizen in a building in June. “By stepping up our ‘Hero Firefighters Support Program,’ we hope to offer our support for helping to boost the morale of our firefi
Nov. 6, 2014
-
IATA responds to questions on intervening in Asiana sanctions
The following are excerpts of an email from Antony Tyler, CEO of the International Air Transport Association, on the association’s decision to petition the Korean government for lighter sanctions on Asiana Airlines for crashing a passenger jet in San Francisco last year. The IATA represents 240 airlines around the world. ― Ed. KH: Why did all the member airlines, excluding Korean Air, decide to support Asiana Airlines?IATA: Safety is our industry’s top priority. The accident investigation proces
Nov. 6, 2014
-
Imported car sales up 16.1% in Oct.
Imported car sales in South Korea jumped 16.1 percent on-year in October, accounting for more than one-tenth of all new cars sold in the country, a local trade association said Thursday.The monthly sales figure of 16,436 vehicles is a solid gain from the 14,154 units sold a year earlier, the Korea Automobile Importers and Distributors Association said. The tally, however, represents a 3.5 percent fall from last month, when sales hit 17,027 units.“The dip compared to the month before comes as com
Nov. 6, 2014
-
Hankook Tire launches new brand Laufenn
Hankook Tire Co., South Korea’s top tiremaker, said Thursday that it has launched the brand new “strategic” brand Laufenn to better cater to the specific needs of various overseas markets. The Laufenn will offer a wide range of tires that meet consumer demands and road conditions of individual countries, by focusing on essential performance areas, the company said. It said with 80 percent of the company’s sales being generated from abroad, the launch of the Laufenn brand can strengthen Hankook’s
Nov. 6, 2014
-
APEC summit cars to be powered by SK batteries
A Chinese electric car, equipped with a power pack featuring lithium-ion batteries supplied by SK Innovation, has been selected as one of the official vehicles for the APEC summit in Beijing next week.SK Innovation announced Thursday that 50 Shenbao electric vehicles, produced by China’s state-run Beijing Automotive Group, would be deployed for the upcoming Asia-Pacific Economic Cooperation summit slated for Nov. 10-11. “The selection of Shenbao as the official car for world leaders at APEC woul
Nov. 6, 2014