Most Popular
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S. Korea, Singapore seal supply chain agreement
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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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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korean language teaching expert says demand has outstripped supply
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Conscripting women to lead to 'more babies,' claims military think tank
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K-pop CEOs sidestep key issues at National Assembly audit
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Who is pollster roiling politics with claims of government string-pulling?
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[Weekender] World’s first EV expo kicks off on Jejudo
The International Electric Vehicle Expo, the world’s first exhibition solely dedicated to fully-electric vehicles, will be held from March 15-21 on Jejudo Island, with some 40 carmakers, battery suppliers and other EV-related companies joining from Korea and abroad. Seven carmakers ― Renault Samsung Motors, Kia Motors, BMW, Nissan, GM Korea, Mia Electric and Tajima ― will display their latest EV models during the weeklong program. The BMW i3, Nissan Leaf and the Mia minibus will make their Korea
March 14, 2014
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[Weekender] Jejudo an emerging test bed for future cars
The scenic Jejudo Island is emerging as mecca for the international electric vehicle market. Dozens of global powerhouses are gearing up to release state-of-the-art products on the southern island.BMW, Kia, as well as yet-to-be-introduced French brand Mia have all set their eyes on the “global test bed.” Carbon-free islandThe biggest attraction of Jejudo Island among electric vehicle companies is the state support.The Jeju Special Self-Governing Province is giving 8 million won in local support
March 14, 2014
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Park names new head of broadcasting watchdog
President Park Geun-hye on Friday nominated a senior judge to head the communications and broadcasting watchdog, her spokesman announced.Choi Sung-joon of the Seoul High Court was named to replace Lee Kyeong-jae as head of the Korea Communications Commission, presidential spokesman Min Kyung-wook said.Lee, a former four-term lawmaker considered a close confidant to Park, took office last year to serve the remainder of his predecessor’s term expiring on March 25. Park’s decision to replace him on
March 14, 2014
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New POSCO chairman Kwon takes office
An engineer savvy in technological development took office Friday as chairman of the world’s fifth-largest steelmaker, POSCO, with a four-point reform plan to enhance competitiveness and weather an industry slump.POSCO’s shareholders and board of directors formally approved Kwon Oh-joon, 64, as the company’s eighth chairman. He will serve through March 2017, leading the country’s sixth-largest conglomerate by assets.“POSCO’s boastful competitive advantage is on the brink of extinction as the glo
March 14, 2014
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New POSCO chairman takes office
An engineer savvy in technological development took office Friday as chairman of the world's fifth-largest steelmaker, POSCO, with a four-point reform plan to enhance competitiveness and weather an industry slump. POSCO's shareholders and board of directors formally approved Kwon Oh-joon, 64, as the company's eighth chairman. He will serve through March 2017, leading the country's sixth-largest conglomerate by assets. "POSCO's boastful competitive advantage is on the brink of extinction as
March 14, 2014
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IKEA to keep prices low in Korea
IKEA Korea’s marketing manager said Wednesday that the Swedish furniture brand would keep to its affordable pricing policy in Korea.The comments are expected to relieve the anxiety that had been building over whether IKEA would inflate the prices of its products here, as many other foreign brands do.IKEA Korea will open its first store in Gwangmyeong, just south of Seoul, in November. Its first Korean outlet, on a site about 10 times the size of a football field, will sell more than 10,000 items
March 13, 2014
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Rsupport to set up joint venture with NTT Docomo
Local software provider Rsupport signed a deal with Japan’s leading mobile phone operator NTT Docomo to launch a joint entity named “Mobidoors” on March 25, Rsupport said Wednesday. “Rsupport’s specialized services and NTT Docomo’s global business experiences are expected to create synergy in technology, sales and brand power,” said Seo Hyeong-soo, CEO of Rsupport. Through Mobidoors, Rsupport aims to sell its remote operation and support systems for smartphone users to global mobile carriers in
March 13, 2014
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Korean Air to increase seats on Incheon-New York route
Korean Air Lines Co., South Korea’s largest carrier, said Thursday it will deploy two of its A380 super jumbo jets to increase the number of seats on its daily Incheon-New York route starting on May 25.The move will increase the number of seats Korean Air can offer by 800 per week.At present, flight number KE081, which leaves Incheon International Airport for John F. Kennedy International Airport at 10:05 a.m., is an A380, but the KE085 that departs at 7:30 p.m. is a smaller twin-engine B777.The
March 13, 2014
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Air France-KLM bets big on premium fliers
Air France-KLM Group, Europe’s largest airline, said Tuesday that it would expand new and enhanced premium services for business-class travelers in Korea as part of its recent efforts for a luxury makeover. The key to the company’s revamped business class is fully reclining seats that come with down pillows and comforters. These will be applied to Korea starting this month for KLM, and in June for Air France, according to the company. No fare hikes are being considered as of now. “In three to fi
March 12, 2014
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Brand borders get fuzzy at Galleria
The Galleria, one of the poshest department stores in the affluent area of southern Seoul, on Wednesday unveiled renovations to the 2nd-5th floors of its West Wing, highlighting luxurious and modish products of high fashion.The most significant aspect of the renovation was tearing down barriers between the different brands to turn the floors into large select shops. Jeans, shoes, bags, hosiery, accessories and underwear are piled up in independent sections regardless of brand, while fresh contem
March 12, 2014
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Hanwha mulls buying Dow Chemical unit
Hanwha Chemical Co. of South Korea said it is considering buying the petrochemical business that Dow Chemical Co., a U.S. chemical company, plans to sell.Last December, Dow Chemical made public that it plans to sell or spin off its low-margin petrochemical division and decide on the terms of the sale in the second half of 2014.“After hearing the news of Dow’s asset sales plan late last year, we have been keeping an eye on it,” a Hanwha official said, declining to give his name.Hanwha Chemical, a
March 12, 2014
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KT affiliate files for court receivership
An affiliate of local communications giant KT Corp. that is being investigated for large-scale loan fraud by an employee said Wednesday it filed for court receivership as it failed to pay back maturing corporate bonds.“We failed to pay back commercial paper worth 49.1 billion won ($46 million) due to the tight money situation. We decided to go under court receivership,” said KT ENS, which is affiliated with KT Corp., the country’s No. 2 mobile operator.The CP is related to overseas project finan
March 12, 2014
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[Photo News] Homeplus anniversary
March 12, 2014
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Samsung Techwin gets approval for gas compressor
Samsung Techwin Co., a South Korean precision machinery maker, said Wednesday that it has obtained product certification for its gas compressor used in LNG carriers from a Norwegian consulting and classification group, Det Norske Veritas.Samsung Techwin said it is the first time for a South Korean company to get such certification from the Norwegian company.Obtaining approval from the DNV, which means “The Norwegian Truth” in English, is necessary in order to provide and mount ship equipment on
March 12, 2014
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[Photo News] Samsung Chef collection
March 12, 2014
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GM Korea to foot the bill for Chevrolet brand's pullout from Europe
GM Korea Co, the South Korean unit of U.S. automotive giant General Motors Co., is expected to foot the bill for the pullout of the Chevrolet brand from Europe, a corporate source said Wednesday. The confirmation comes after General Motors International Operations (GMIO), which controls the South Korean company, recently said it set aside $621 million needed to discontinue sales of Chevrolet-badged cars in Europe and halt operations of local sales companies. "GM Korea supplies 90 percent of
March 12, 2014
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Man arrested for trading 12 million people’s data
The Busan Metropolitan Police Agency arrested a suspect involved in the trade of personal information of more than 12 million people, according to a police statement on Tuesday. The police arrested one suspect who sold personal information, and booked 17 buyers without detention.The suspect allegedly bought personal information from illegal distribution dealers in China and used it for marketing credit brokerage and mobile telecom services, the police said. Among the leaked personal information,
March 11, 2014
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[Photo News] LG Electronics expands UHD Lineup
March 11, 2014
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Department store sales fall 1.7% in February
Sales at department stores in South Korea shrank in February from a year earlier, switching from growth in the previous month, preliminary government data showed Tuesday.Department store sales declined 1.7 percent on-year in February, according to the data by the finance ministry. The on-year decline followed a 7.2 percent growth tallied in January.Sales at discount chains also dropped. The data showed discount chain sales falling 23.1 percent on-year in February, a turnaround from the previous
March 11, 2014
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Siemens looks to usher in Industry 4.0
Firms in traditional industries must computerize their entire operations if they want to stay ahead of the game, according to Guenther Klopsch, head of Siemens Industry Sector. Industry 4.0, the integration of software and hardware into the entire manufacturing process ― from design to planning, engineering and execution of production and services ― will become the key to innovation, Klopsch said. “There are several challenges we are facing at the moment: the steady growth of population, energy
March 11, 2014