Most Popular
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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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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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Foodpolis to act as bridge to China
Top global food companies are eyeing South Korea’s food cluster Foodpolis with keen interest as it is expected to serve as a stepping stone for expanding into China, Asia’s largest food market. Up to 48 foreign companies, including Italy’s Forno d’Asolo, the Netherlands’ NIZO food, America’s Hampton Grains and France’s SEB, have signed pacts with the local Agriculture Ministry to set up shop in Foodpolis when it is completed by 2016 in Iksan, North Jeolla Province. “A growing number of global co
Oct. 7, 2014
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KOGAS seeks to bring global gas event to Daegu
The top management of state-run Korea Gas Corp. has been in Europe since the start of this month to help Daegu win its bid to host the 2021 World Gas Conference, the company said Tuesday. Visitors browse at exhibition booths set up at the 2014 Gastech Conference and Exhibition held from March 24-27 at KINTEX in Gyeonggi Province. KOGASDaegu, where KOGAS has moved its headquarters to from Seoul last month, served as the venue for the 22nd World Energy Congress in October last year.“The Gas Intern
Oct. 7, 2014
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Hyundai Motor's experimenting with drones, transformer car concepts
Hyundai Motor Co. said Tuesday that it is exploring the use of drones and checking the feasibility of making "transformer-like" cars under a research and development program (R&D) to better meet the demands of the future.At this year's R&D IDEA Festival at Hyundai's Namyang R&D Center south of Seoul, South Korea's No. 1 carmaker said that its engineers have conducted experiments of using small, unmanned aerial vehicles (UAVs) or drones that are controlled from a car so the driver can have a bett
Oct. 7, 2014
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Samsung puts Q3 earnings at 4.1 tln won amid desperate struggle
Samsung Electronics Co., the world's top smartphone maker, estimated its third-quarter operating profit at 4.1 trillion won (US$3.8 billion) Tuesday, apparently as its key business continued to suffer despite the corporatewide effort to revitalize its earnings.The preliminary estimate represents a 59.6 percent fall from the company's operating profit of 10.16 trillion won a year earlier, it said in a regulatory filing. The figure also marks a 42.98 percent plunge from the operating profit of 7.1
Oct. 7, 2014
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[SUPER RICH] Top 5 billionaires losing money
Many 21st-century billionaires have made their piles from stock investments. On the reverse side, this means that they could also lose their billions on account of stock values.As a case in point, the prices of stocks in large Korean corporations in the fields of electronics, automobiles and shipbuilding have plummeted, leading to a decrease in local billionaires’ assets.As of last month, Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries, suffered the biggest drop in his stock
Oct. 6, 2014
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[SUPER RICH] MCM chief faces controversy over political ambitions
It seems that Kim Sung-joo, chief visionary officer of global fashion brand Modern Creation Munchen, has never been busier. On top of opening the MCM flagship store in Munich last month, she is now at the helm of the Korean Red Cross. However, following her recent appointment, Kim is now in hot water due to claims that she has never been passionate about the Red Cross. The proof, according to Rep. Kim Yong-ik of the main opposition New Politics Alliance for Democracy, is that the chairwoman fail
Oct. 6, 2014
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(Photo News) Wider reach
Yu Kun-ha (right), head of the digital service center at Herald Corp., poses after signing a partnership agreement with Kim Kyu-tae, the senior managing director of the Association of High Potential Enterprises of Korea. The two sides will cooperate to globally promote Korean mid-sized firms. (Yoon Byung-chan/The Korea Herald)
Oct. 6, 2014
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SK begins lubricant production in Spain
SK Innovation, the holding company of SK Group’s energy sector, announced on Monday the start of commercial operations of its lubricant production plant in Cartagena, Spain, as part of the company’s aim toward globalization. “With the production line in Spain, SK Lubricants has become the world’s third-largest lubricant oil producer behind Exxon Mobil and Shell, with an expanded daily output of 70,800 barrels,” SK Innovation said in a press release. “The joint investment in Spain is helping SK L
Oct. 6, 2014
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International air cargo forum kicks off in Seoul
Some 3,000 delegates from the air cargo industry flocked to Seoul on Tuesday to attend a forum on international aviation logistics hosted by Incheon International Airport Corp.The 27th International Air Cargo Forum & Exposition, organized by the International Air Cargo Association starts Tuesday and will continue through Thursday at Coex Exhibition Center. “The event will offer a great chance for freight logistics officials to build up their networks with global industry leaders and discover new
Oct. 6, 2014
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Ssangyong Motor holds overseas dealership meeting ahead of X100 launch
Ssangyong Motor, the local unit of Indian SUV maker Mahindra & Mahindra, said Monday that it has convened the largest-ever overseas dealership meeting ahead of the launch of its new X100 small crossover.The four-day gathering that kicked off last Wednesday on the sidelines of the Paris Motor Show, involved 130 dealers from 65 countries, the carmaker said.The company said dealers had a chance to share Ssangyong’s corporate vision and mid- to long-term product strategies, as well as exchange views
Oct. 6, 2014
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Concerns rise over capital inflow from China
A growing reliance on capital from China may soon become a major concern for South Korea’s financial market, according to industry watchers on Monday. China’s foreign direct investment into the nation reached $1 billion in the January-September period, a 230 percent rise from the same period last year, according to the Ministry of Trade. The nation’s investment in Korea’s stock and bond markets was 23 trillion won ($21 billion) in August ― more than 50 times the 470 billion won recorded in Decem
Oct. 6, 2014
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Daeymyung Academy helps students grow
Students at Daemyung AcademyBusan-based Daemyung Academy is not a run-of-the-mill hagwon. It is a place that was designed to help students learn to teach themselves and to think out of the box, said Jeong Dong-sun, head of the academy.At the same time, Daemyung teaches critical life lessons on values such as integrity, responsibility and teamwork, she said. “For a long time, I have believed that education is not about cramming knowledge into students’ heads, but based on cultivating a proactive
Oct. 6, 2014
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Samsung Electronics likely to continue earnings decline
Samsung Electronics, the nation’s top electronics company, is expected to rattle the market on Tuesday by announcing a second consecutive earnings decline for the third quarter due to weak sales in its core smartphone business amid rising competition, stock analysts said Sunday. According to financial research firm FnGuide, Samsung Electronics’ operating profit in the July-September period is forecast to record 4.98 trillion won ($4.65 billion), which is less than half of 10.16 trillion in the s
Oct. 5, 2014
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Doctor campaigns for charity hospital
A campaign has been started to establish a charity hospital specializing in spinal problems, raising public awareness to scoliosis, or curvature of the spine. “If you have a curved spine, you suffer various problems in digesting, moving and even breathing,” said Dr. Suh Seung-woo at the orthopedic surgery department of the Korea University Guro Hospital. Suh Seung-woo“But not many people actually visit a doctor to fix their problem. I blame the social atmosphere that is hostile to disabled peop
Oct. 5, 2014
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2nd Lotte World readies for partial opening in October
South Korean retail giant Lotte Group is getting ready to open three completed commercial retail buildings on the lower part of the second Lotte World complex under construction in Songpa district, southern Seoul, within this month.Preparation efforts were boosted after Seoul City last Thursday approved the partial opening of the complex, ending months of controversy over its safety and other concerns. A department store, shopping malls and other entertainment facilities fill the lower areas alo
Oct. 5, 2014
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Hyundai, Kia see cumulative sales in China top 9 mln units
South Korea's top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. said Sunday their cumulative sales in China have exceeded 9 million units in 12 years since their entry into the fast-growing market.In the first nine months of this year, Hyundai and Kia sold a combined 1.28 million units in the Chinese market, up 9.5 percent from the same period a year earlier.The January-September figure raised the two companies' cumulative sales in China to more than 9 million vehicles,
Oct. 5, 2014
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[Herald Interview] Montblanc inspires future generations of patrons
Offering patrons a stage to show how supporting arts and culture can make a better world is a significant factor in convincing them to make contributions, according to the chairman of the Montblanc Cultural Foundation.“So it’s important for us to step up to act and support cultural development,” Lutz Bethge told The Korea Herald in a recent interview in Seoul. The chairman was in the country last week to announce this year’s South Korean recipient of the annual Montblanc de la Culture Arts Patro
Oct. 1, 2014
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Starbucks opens first Community Store here
Starbucks Korea on Wednesday opened its first Community Store in the bustling university district of Daehangno, Seoul, in a bid to follow its global vision of “giving back to the community.” The store ― the eighth in the world following six in the U.S. and one in Thailand ― will donate 300 won ($0.2) for every item it sells to ChildFund Korea to support the country’s underprivileged youth by offering leadership programs, according to the company. “We expect to donate between 80-100 million won t
Oct. 1, 2014
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Wolfgang’s Steakhouse to open in December
The New York-based Wolfgang’s Steakhouse will open a titular restaurant in Cheongdam-dong of southern Seoul in December, the restaurant’s Korean team said Wednesday. Founded by seasoned waiter and restaurant owner Wolfgang Zweiner, the restaurant has been celebrated by Hollywood starlets and pop stars as well as politicians and business people in the United States. Its signature steak is made with prime-grade Black Angus dry aged for 28 days. (baejisook@heraldcorp.com)
Oct. 1, 2014
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POSCO supplies lightweight steel to Renault
POSCO, the world’s fifth-largest steelmaker, said Wednesday that its high-strength, lightweight steel products were being used in Renault’s new concept car EOLAB for the first time.The materials, POSCO executives said, would help minimize the vehicle’s weight while enhancing the fuel economy.Renault’s first-ever plug-in hybrid concept car was designed to travel up to 100 kilometers on just 1 liter of gas. “POSCO’s fuel-saving technology has gained recognition throughout the European automobile m
Oct. 1, 2014