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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[Photo News] Next big thing in mobile
Feb. 26, 2014
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Probe slams KOMIPO for shoddy construction
Korea Midland Power Co., or KOMIPO, a power generation subsidiary of the state-run Korea Electric Power Corp., received below-standard marks in a quality test conducted on its Shin-Boryeong coal-fired thermal power plant units 1 and 2, both currently under construction.As KOMIPO has plans to eventually export the technology, the issue was found to be critical, according to those close to the matter. The information was revealed by a member of the National Assembly’s Trade, Industry and Energy Co
Feb. 26, 2014
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[Photo News] Spring style
Feb. 26, 2014
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Telecom operators compete for LTE ...leadership at MWC
The nation’s telecom operators unveiled their Long Term Evolution advanced technology at the Mobile World Congress 2014, which opened this week in Barcelona. SK Telecom, KT and LG Uplus have all demonstrated LTE-Advanced technologies, which can offer data rates of 450 megabits per second. SK Telecom, the nation’s largest mobile carrier, introduced three-band LTE-Advanced, which enables peak data rates of 450 mbps by combining three 20 megahertz channels. This is six times faster than conventiona
Feb. 26, 2014
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Gov't to step up cooperation with GE
The South Korean government signed a memorandum of understanding with U.S. multinational conglomerate General Electric for increased cooperation in the heavy industry sector and with small-sized companies, the industry ministry said Wednesday.Under the deal signed with the Ministry of Trade, Industry and Energy, GE will carry out bilateral projects that entail increased investment and joint research, the ministry said in an e-mailed statement.The deal follows a meeting between President Park Geu
Feb. 26, 2014
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Kumho Tire becomes official sponsor for NBA
Kumho Tire Co., South Korea's second-largest tiremaker, said Wednesday it has become the official sponsor of the National Basketball Association.The company said Kumho will sponsor both the NBA and the NBA Development League until 2016, as part of efforts to expand its sports marketing and raise brand awareness among consumers."In the past, other tire companies set up sponsorship arrangements with individual basketball teams, but Kumho is the first to do so with the governing basketball associat
Feb. 26, 2014
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Asiana fined $500,000 over jet crash in San Francisco
Asiana Airlines, a South Korean flagship carrier, was fined $500,000 Tuesday for what the U.S. aviation authorities described as negligence in assisting families of passengers aboard its jet that crash-landed in San Francisco last year.The Department of Transportation said Asiana "violated federal law last July by failing to adhere to the assurances in its family assistance plan" following the accident in which three passengers were killed.The federal law, set up in 1997, requires all foreign ai
Feb. 26, 2014
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Not all Korean firms concerned about Fed tapering: poll
Not all South Korean firms are seriously worried about the impact of the U.S. Fed’s tapering on their business conditions, a latest poll showed Tuesday.According to the survey of 1,000 companies by the Korea Chamber of Commerce and Industry this month, 50.5 percent of the respondents believe that the Fed’s scaling back of its bond-buying program will undermine their business conditions. The figure is up slightly from 47 percent in January. Sixty percent were worried about the overall business co
Feb. 25, 2014
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K-water seeks paradigm shift in water management
The State-run Korea Water Resources Corp., better known as K-water, is seeking an innovation in water management, declaring a shift to “smart” water management. The change came after the new K-water CEO Choi Gye-woon presented a corporate vision on Jan. 2 addressing the challenges lying ahead for the nation’s long-time sole water resource developer. “K-water has contributed to the nation’s economic development and enhancement of people’s lives with a clean and stable water supply since its found
Feb. 25, 2014
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K-water to work with corporate sector on water strategy
The nation’s large companies are expected to make a foray into the water market on increased government support for the industry, including an initiative being taken by the state-run Korea Water Resources Corp. Korea Water Resources Corporation, also known as K-water has focused on supporting small and medium-sized companies in the water industry in developing water and sewage system technologies. Now K-water plans to encourage conglomerates and other major firms to participate in water industry
Feb. 25, 2014
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Hyundai unveils Intrado fuel cell concept vehicle
Hyundai Motor Co., South Korea's largest carmaker, on Tuesday unveiled its Intrado fuel cell concept vehicle that showcases the brand's new design language and technology that may find its way into production vehicles down the line.The official presentation is to take place at the upcoming Geneva Motor Show to kick off on March 4. Hyundai said the car has been created by its technical and design office at Russelsheim, Germany, in cooperation with Namyang R&D Center.The name Intrado is borrowed f
Feb. 25, 2014
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Toyota to recall its cars in S. Korea for faulty seats, hybrid system glitch
Toyota Motor Korea, the local importer of the world's largest automaker, is recalling 12,579 vehicles sold here due to problems with heated seats and hybrid motor control systems, the transportation ministry said Tuesday.The problem with substandard materials used in heated seats affects six models and 5,232 vehicles, while the hybrid system's troubles involve 7,347 Prius vehicles, according to the Ministry of Land, Infrastructure and Transport."Tests carried out on heated seats during the stand
Feb. 25, 2014
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Chung Mong-koo resigns from steelmaker for son
Hyundai Motor Group chairman Chung Mong-koo will not seek a new term as in-house director of the group’s steelmaking unit Hyundai Steel in a move to put more resources into the flagship automotive business, industry sources said Monday. He also intends to make room for his son Eui-sun, the group’s vice chairman and one of the four in-house directors at Hyundai Steel since 2012, according to an industry source.“The son is facing urgent issues like paying back the debt related to furnace construct
Feb. 24, 2014
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[Photo News] Ssangyong XLV
Feb. 24, 2014
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KT&G launches capsule-type cigarette
KT&G, the country’s largest tobacco producer, has launched a new capsule-type cigarette, the company announced Monday. The new product, named “Bohem Shake,” is the latest addition to KT&G’s Bohem Cigar lineup, which is popular among young smokers, the company said.Each cigarette contains a menthol capsule in the filter that, when popped, releases a fresh, strong menthol flavor, according to the company. KT&G noted that the “monster” capsule is about 4.5 millimeters in diameter, the largest of it
Feb. 24, 2014
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[Photo News] KB helps kids
Feb. 24, 2014
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How can financial institutions deal with cybercrime?
The rapid evolution of cybercrime has become a major threat not only to individual businesses, but to global infrastructure and the economy. Last month’s credit card data theft has proven exactly how hard-hitting the effects of such attacks can be. Recently, the three companies at the center of the data theft scandal have had their punishments dealt to them. KB Kookmin Bank, Lotte Card and NH NongHyup Card have each been fined 6 million won, and have been suspended from issuing new credit cards
Feb. 24, 2014
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[Photo News] The next big leap
Feb. 24, 2014
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KDB takes steps to buy Hyundai’s financial companies
Korea Development Bank is moving to take over three financial firms from Hyundai Group, which is selling its affiliates as part of restructuring to improve its capital flow, market sources said Monday.Sources in the investment banking sector said KDB, the business group’s main creditor, has started due diligence on Hyundai Securities Co. The securities firm holds a 100 percent stake in Hyundai Savings Bank Co. and Hyundai Asset Management Co., which have all been put up for sale.Hyundai Group, u
Feb. 24, 2014
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[Graphic News] KakaoTalk surpasses Naver in brand value
The brand value of KakaoTalk, a local messenger service with more than 130 million users worldwide, has surpassed Naver among Internet companies, according to the Brand Stock Top Index compiled by Brand Stock. In second place, Naver was close on KakaoTalk’s heels.
Feb. 23, 2014