Most Popular
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S. Korea, Singapore seal supply chain agreement
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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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Man killed by fellow hunter who mistook him for wild boar
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Samsung Q4 profit down 5.95% on bonuses, foreign exchange
Samsung Electronics Co., the world's top maker of smartphones, said Friday its fourth-quarter operating profit fell 5.95 percent from a year earlier.Operating profit came to 8.31 trillion won ($7.73 billion) in the October-December period, compared with 8.84 trillion won a year earlier, the company said in a regulatory filing.Sales edged up 5.74 percent on-year to 59.28 trillion won, the company added. The figures were in line with Samsung's guidance released earlier this month.Analysts attribut
Jan. 24, 2014
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Toyota keeps world No. 1 title with record vehicle sales
Toyota sold a record 9.98 million vehicles last year, it said Thursday, outpacing rivals General Motors and Volkswagen to maintain its title of world's biggest automaker.The Japanese auto giant's highest-ever annual sales volume came thanks to a weaker yen as well as strong US and China sales, signaling it had recovered from a series of damaging safety recalls and Japan's 2011 quake-tsunami disaster.The figures beat US-based GM, which said it sold 9.71 million cars last year, while Germany's Vol
Jan. 23, 2014
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Hyundai Motor’s profit falls despite strong sales
Hyundai Motor’s global operating profit slid by 1.5 percent in 2013 to 8.31 trillion won ($7.75 billion) as the carmaker struggled against a strong domestic currency, the company said on Thursday. Hyundai performed better abroad, with total sales rising by 3.4 percent from 2012 to 87.307 trillion won. But its global sales were eclipsed by sluggish domestic sales that were triggered by an influx of imported cars. Its repeated strikes also did not help with domestic sales, industry observers said.
Jan. 23, 2014
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[Graphic News] World-leading products per country
1. China - 1,485 products2. Germany - 703 3. U.S. - 6034. Japan - 2315. Italy - 2286. U.K. - 817. South Korea - 64
Jan. 23, 2014
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Hanjin chairman talks of reform
Hanjin Group chairman Cho Yang-ho on Thursday stressed restructuring efforts, saying that the company must achieve profit this year.One way to fulfill the goal would be branch out of Korea and avidly develop overseas markets, he stressed.“Our employees who are stationed abroad must become experts on their local markets in order to satisfy our overseas customers,” the chairman said at an executive-level seminar that brought together 116 executives at Hyatt Regency Hotel in Incheon City.He also ca
Jan. 23, 2014
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SK C&C increases inroads into China
SK C&C president Chung Chul-khil has visited China to highlight the company’s moves to expand its global business, SK C&C said on Thursday. Chung was in Beijing and Shenzhen, China, from Jan. 21 to 23 to discuss new business plans and market trends with the regional branch members. “SK C&C will reinforce its competitiveness and have achieve tangible outcomes through localization and partnership in China,” Chung said. “The company should share its structural reform outcomes and best practices wit
Jan. 23, 2014
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LG Display Q4 net down 77.9%
South Korean panel giant LG Display Co. said Thursday its fourth-quarter net plunged 77.9 percent from a year earlier amid the falling prices of TV panels in the global market.Net profit reached 70.8 billion won ($65.9 million) in the October-December period, compared with a profit of 319.7 billion won a year earlier, LG Display said in a regulatory filing.Sales dropped 19 percent on-year to 7.07 trillion won in the fourth quarter, while the company posted an operating profit of 256.9 billion wo
Jan. 23, 2014
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STX Heavy Industries told to repay its Chinese unit’s debts
STX Heavy Industries Co., a troubled South Korean shipbuilder, said Thursday it would seek countermeasures to an order by China’s arbitration commission to repay 60.9 billion won ($56.8 million) in debts held by its unit.The shipbuilder issued a loan guarantee in October 2010 on a loan by its Chinese heavy machinery maker, STX Dalian Heavy Industries Co., from China’s Bank of Communications.Last August, the Chinese bank filed a petition with the China International Economic and Trade Arbitration
Jan. 23, 2014
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Budget carriers’ passenger traffic jumps 20 percent
The number of international and domestic passengers using South Korea’s low-cost carriers grew significantly from a year earlier in 2013 with the combined market share of the budget carriers on domestic routes surging to a record high, the government said Thursday.The total number of passengers using flights by the country’s five low-cost carriers came to over 15.69 million last year, up 20 percent from the previous year, according to the Ministry of Land, Infrastructure and Transport. Internati
Jan. 23, 2014
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[Graphic News] Global market share of Korean firms in 2013
Korean firms placed within the top 10 in terms of sales revenues up to the third quarter of last year for nine of 26 industry categories, according to data compiled by CEO Score.Samsung Electronics was the industry leader in information technology and Hyundai Heavy led the shipbuilding industry, which on the list also included five other domestic companies.Meanwhile, other Korean firms ranked second in industries such as steel, semiconductors and mobile phones, the data showed.
Jan. 22, 2014
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[Photo News] Wine and bread
Jan. 22, 2014
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[Photo News] Best trade finance bank
Jan. 22, 2014
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LG Chem attains patent in Europe, Japan
LG Chem Ltd., the world’s largest lithium-ion battery maker, said Wednesday that it has obtained a patent for its safety-reinforced separator, a key component of lithium-ion polymer batteries, in Europe and Japan.SRS serves a crucial process in battery production by using a thin coating of ceramic materials to increase the safety of batteries in electric vehicles by separating the negative and positive poles.The SRS technology was a key factor in LG Chem being chosen as the provider of lithium-i
Jan. 22, 2014
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[Photo News] Whizz kids
Jan. 22, 2014
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Growth returns to global economy: B20 outlook
The global economy is expected to see growth improve this year, although significant risks, including possible capital market volatility and asset bubbles, still remain.This forecast was made in the 2014 global business outlook issued by the B20 Coalition at its annual meeting in Paris on Tuesday. “The global economic recovery is underway at a modest pace this year, with the private sector creating jobs, innovating and investing again,” said the body representing 15 of the largest private busine
Jan. 21, 2014
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Ssangyong Motor investing 1 trillion won on new cars
Ssangyong Motor Co., a local unit of Indian sport utility vehicle maker Mahindra & Mahindra Ltd., said Tuesday it is in the process of investing 1 trillion won ($941 million) to develop new vehicles that will bolster the company’s market competitiveness.South Korea’s fourth-largest automaker said it will generate the necessary funds in-house to launch three new vehicles in the coming years.The company said last year it will inject around 200-300 billion won until 2017 to launch the all new X100
Jan. 21, 2014
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Cirque du Soleil and Express Logistics ― pioneers on the world stage
Cirque du Soleil is just like the business of express logistics.Now hang on, please stay with me.That statement may look like a desperate attempt both to grab your attention and to make a bold and spurious claim that a business that involves shifting packages from A to B can also be fascinating. Well, you could be right, but only partly: there’s also quite a bit of truth to it.In 1984, when Guy Laliberte and Gilles Ste-Croix were performing on the streets of Baie Saint-Paul near Quebec, the only
Jan. 21, 2014
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Android platform rules Korean market in 2013
More than nine out of ten smartphones in South Korea ran on Google Inc.'s Android platform, data showed Tuesday.Around 93 percent of smartphones in the country were powered by the Android platform, far above the 5.1 percent for Apple Inc.'s iOS, the data by market researcher Strategy Analytics showed.Market shares for the Blackberry OS and Microsoft Corp.'s Window Phone OS stood at 0.1 percent and 0.9 percent, respectively, in the country, with Nokia Corp.'s Symbian rarely used.Market watchers p
Jan. 21, 2014
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Online retail giant Amazon steps up Korean penetration
With a new chief aboard, Amazon, the world’s largest online retailer, is set out to enter the Korean market in full scale by the end of the year.The online retail giant’s arrival is expected to cause a stir as domestic marketers claim it would kill off Korean commerce companies already suffering from extreme competition. Amazon Webservice Korea, Amazon’s Korean branch office in charge of the cloud business service, recently appointed former Google Korea chief Yeom Dong-hoon as general manager of
Jan. 20, 2014
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KCC sides with KBS on license fee increase
Korea Communications Commission chairman Lee Kyeong-jae confirmed that the organization agrees with the license fee hike submitted by the Korea Broadcasting System, the nation’s largest television network. He said at a press event on Monday that the “KCC has reviewed the plan financially and legally. Though the increase may not get a good response from the public in the beginning, the plan as a whole makes sense. With continuous discussions, I believe the public will also understand this.” He ad
Jan. 20, 2014