Most Popular
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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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Korean language teaching expert says demand has outstripped supply
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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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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Taking away phones during school hours not a human rights violation: watchdog
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Korea launches antidumping probe into Chinese steel
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Hyundai Mobis starts production of advanced active seatbelts
South Korea’s leading car parts supplier Hyundai Mobis on Thursday said it has begun commercial production of advanced active seatbelts that will allow the company to compete effectively in the global market.The production marks the first time that a South Korean company has made a foray into the new product that aims to minimize injury to vehicle occupants in the event of an accident. In the past, companies such as Hyundai Motor Co. bought the seatbelts from TRW Automotive, a German firm well k
Dec. 12, 2013
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[Photo News] Paris in Shanghai
Dec. 12, 2013
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Foreign companies cited for social contributions
Six foreign-invested companies were recognized by the Korea Trade-Investment Promotion Agency on Thursday for their outstanding social contributions to the local community.The six awardees are DHL Korea, Wilo Pumps Ltd., FRL Korea, Pernod Ricard Korea, Renault Samsung Motors and L’Oreal Korea.DHL Korea won the top award for its global volunteer service and relief network. Wilo Pumps Korea won the honor for its dedication to the socioeconomically estranged seniors and orphans, and FRL Korea for d
Dec. 12, 2013
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Renault considers sending more QM3 cars to Korea
Renault Group is expected to pour more QM3 cars into Korea as preorders are soaring at Renault Samsung Motors, its struggling Korean unit that has high hopes for the new crossover vehicle. According to industry sources, Renault Group’s Asia-Pacific division head Gilles Normand was visiting Korea this week possibly to talk with local executives about ways to secure a sufficient supply of the popular crossover. “He is believed to seek support from the France head office to pour more QM3 cars into
Dec. 12, 2013
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SK Group reshuffles 7 presidents, CEOs
SK Group carried out a reshuffle of leadership of its affiliates on Thursday, which affected seven presidents or CEOs and 141 executives.SK Chemical CEO Park Jang-suk was promoted to vice chairman as he was credited with his leadership in driving the materials company to become globally competitive, group officials said.Its chemical business unit head Jeong Khee-bong was promoted to CEO to lead in new materials development together with Park.SK Chemical’s Kim Cheol, who was leading its resin bus
Dec. 12, 2013
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Foreign ownership brings both hope and concern to builders
Stung by years of asset disposal failure, financially distressed construction companies are now placing their hope on finding themselves a foreign owner, which the local industry considers to be a double-edged sword.Byucksan Engineering & Construction, Korea’s 35th-largest builder, signed a long-anticipated merger and acquisition deal with Qatar’s Akid Consulting earlier this week, according to officials.Based on the deal, the Qatari firm is to acquire 60 billion won ($57 million) worth of the b
Dec. 12, 2013
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KCS unveils list of big tax dodgers
South Korea’s customs agency on Thursday revealed the names of individuals and corporate entities who owe the state a total of 159.6 billion won ($151.5 million) in unpaid taxes.The list compiled by the Korea Customs Service included 78 individuals and corporate entities that have not paid tariffs and internal taxes that are more than 500 million won for at least a year.Taxes overdue by individuals stood at 99.7 billion won, with Moon Se-young, the head of a local farming goods importer, topping
Dec. 12, 2013
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Hyundai E&C spearheads Korea’s overseas construction industry
The history of Hyundai Engineering & Construction has largely been in line with that of the country’s construction industry, always just one step ahead of all the other competitors.By clinching a $1.4 billion deal last month to build an oil refinery plant in Venezuela, Korea’s largest builder exceeded $100 billion in accumulated overseas orders.This unprecedented amount was not only some 17 percent of the nation’s total sum but also more than double that of the runner-up, Daewoo Engineering & Co
Dec. 12, 2013
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[Photo News] Philip Morris donates freezer truck
Dec. 12, 2013
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[Photo News] New MCM store in Seoul
Dec. 12, 2013
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Seoul's Gangnam launches trolley tours
Foreign and domestic tourists will be able to enjoy trolley tours to popular destinations in Seoul's posh Gangnam region beginning Thursday, the district office said.The new program will run every day from 9 a.m. to 8 p.m., and tourists can hop on and off at any of the 21 designated stops. The whole tour will take 105 minutes, according to the Gangnam District Office.The destinations include the affluent Apgujeong district, the COEX Convention and Exhibition center, Bongeun Temple, the Gangnam S
Dec. 12, 2013
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Over 2M Xbox One units sold in first 18 days
Microsoft says more than 2 million of its Xbox One consoles have been sold since the system's launch 18 days ago.That works out to an average of 111,111 units per day. And company officials say users have spent over 83 million hours with the games, TV, and apps on Xbox One since the Nov. 22 launch.Yusuf Mehdi, corporate vice president of strategy and marketing for Xbox, says demand is exceeding supply in the 13 launch markets, with Xbox One sold out at most retailers.Its makers want the Xbox One
Dec. 12, 2013
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Hyundai launches racing car brand N
Hyundai Motor on Wednesday unveiled its ambitious plan to produce high-performance racing machines, launching its first in-house performance sub-brand, “N.”The new brand launch came when Hyundai Motorsport unveiled the Hyundai i20 World Rally Championship car that will make its debut at the Monte Carlo next month. Based on the compact i20 hatchback, the car is powered by a turbocharged 1,600 cc engine that generates 300 horsepower, according to the company. But it seems more time will be needed
Dec. 11, 2013
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[Photo News] Housewarming
Dec. 11, 2013
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[Photo News] Hanjeongsik service on board
Dec. 11, 2013
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LG-GS consortium picked as main bidder for STX Energy
GS Group, a South Korean retail and refining conglomerate, said Wednesday that a consortium of GS Holdings Corp. and LG Corp. has been selected as the preferred bidder for a controlling stake in STX Energy Co. The consortium will purchase 72 percent of the 96.35 percent stake held by Orix Corp. of Japan, the group said. Detailed terms of the stake sales between the consortium and Orix will be determined in additional negotiations to be held as soon as possible, the GS Group said. GS Holdings has
Dec. 11, 2013
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Unemployment falls as job creation picks up
South Korea’s jobless rate slightly dropped in November from a month earlier as job creation picked up speed, raising hopes that labor market conditions are improving, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 2.7 percent last month, down from 2.8 percent in October.The jobless rate adjusted for inflation also inched down to 2.9 percent from the previous month’s 3 percent.Job creation accelerated sharply. The number of employed pe
Dec. 11, 2013
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64-bit Tizen phone expected next year
Samsung Electronics will likely release next year a Tizen smartphone with its own security solution, according to a market analystThe push for a phone running on the new operating system and using Knox, Samsung’s own security software, could increase its presence in the enterprise market. “The ultimate goal for Samsung in developing the Android-based Knox is likely to make a smartphone embedded with Knox that runs on the Tizen OS, powered by a 64-bit chip,” said Song Jong-ho, an analyst from KDB
Dec. 11, 2013
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[Photo News] Cooperation in ICT
Dec. 10, 2013
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Samsung targets 20% growth in smartphone sales next year
Samsung Electronics will aim for 20 percent growth in smartphone sales next year, the most conservative figure set since it started the business, as it focuses on the growing tablet market, industry sources said.Samsung’s information technology and mobile communications division reportedly set next year’s sales target of smartphones at 360 million units, a 20 percent increase from this year. Its tablet sales are expected to jump to 100 million from this year’s estimated 40 million units.“Samsung
Dec. 10, 2013