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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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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[Grace Kao] Why K-pop lip-syncing doesn’t bother me
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[Newsmaker] More join efforts to create part-time jobs
More companies are jumping on the bandwagon to hire contract-based part-time workers, apparently in line with the government’s policy to boost the nation’s employment.Shinsegae, operator of the nation’s biggest department store, first stepped up to the plate as it announced earlier this year that it would hire around 2,000 part-time workers for its businesses including retail store Emart and its department stores across the nation. Other retail firms including CJ Group also followed suit by hiri
Nov. 19, 2013
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Hyundai-Kia receives 3 residual value awards in U.S.
Hyundai Motor Group said Tuesday that it received three Residual Value Awards from Automotive Lease Guide, the industry benchmark for residual values and depreciation data, in the United States. The annual ALG Residual Value Awards recognize carmakers’ outstanding achievements in producing new vehicles that are predicted to retain the highest percentage of their original price after three years.Hyundai Motor’s Santa Fe topped the mid-size SUV segment for two consecutive years, while its Accent o
Nov. 19, 2013
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Saskatoon berries make debut in Korea
Canada’s saskatoon berries made their debut here on Tuesday to make Korea the first market in Asia to get a taste of the so-called superfruit. “We are pleased to have this opportunity to have Korea learn about this wonderful fruit. I think Korean people, with their focus on a healthy lifestyle and a keen interest in quality products, will make Korea a great test bed for introducing saskatoon berries to the region,” said Sandra Purdy, president of Prairie Berries, the operator of the world’s larg
Nov. 19, 2013
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Duty-free cap in Jeju raised to $800
The government will raise the transaction limit at two duty-free shops for domestic travelers in Jeju to $800, the Ministry of Land, Infrastructure and Transport said Tuesday. The two duty-free shops catering to domestic travelers, where they can shop up to six times a year, are located at Jeju International Airport and International Convention Center Jeju. However, the new policy only increases the transaction limit, while the tax-free benefit itself remains capped at $400. Transactions past $4
Nov. 19, 2013
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Kumho Tires supplies Mercedes-Benz B-Class
Kumho Tires said Tuesday that it has started supplying original equipment tires to Mercedes-Benz for its B-Class compacts from November, following another deal with the German luxury carmaker for the G-Class sport utility vehicle. Equipped with the Korean tire maker’s high-performance thread compound technology, the tire product ECSTA HM effectively supports steering and driving stability, the company said in a press release. With the new supply deal, Kumho Tires said, the company is seeking to
Nov. 19, 2013
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Rural development agency to tap agricultural projects overseas
The Korea Rural Community Corp., a public firm that has carried out rural infrastructure and community development projects for decades, is shifting its focus to overseas projects under its new leadership. “The demand for learning from Korea’s agricultural infrastructure construction and rural and fishing village development know-how is increasing in developing countries,” KRC CEO Lee Sang-mu told The Korea Herald. “The KRC will focus on tapping overseas business opportunities in such areas und
Nov. 19, 2013
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Commissioner aims to grow GFEZ into logistics hub of Northeast Asia
Looking at a map of the Korean Peninsula, it can be clearly seen that Gwangyang Port, in South Jeolla Province, is located halfway between China and Japan.Covering four different cities and counties (Yeosu, Suncheon and Gwangyang in South Jeolla Province, and Hadong in South Gyeongsang Province), the Gwangyang Bay Area Free Economic Zone, or GFEZ, is a key strategic location for both Western and Asian businesses that want to be involved in the Asian market.With this year marking the 10th anniver
Nov. 19, 2013
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LIG group to sell nonlife unit
South Korea's LIG Group said Tuesday it plans to sell all shares in its nonlife insurance arm in a bid to secure cash to compensate investors for losses incurred from its 2011 financial fraud scandal.The conglomerate said it will sell its 20.96 percent stake, or 12.5 million shares, in LIG Insurance Co., while the acquirer has yet to be decided. Market watchers said the deal is estimated at 400 billion won ($378 million).LIG Group said that the sale of LIG Insurance shares was inevitable, due to
Nov. 19, 2013
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FSS to probe Samsung Life over rebate policy
The financial regulator will check Samsung Life Insurance Co. over its rebate policy, after the local police caught a wealthy man dodging taxes by allegedly hiding the money with the help of insurance brokers, regulatory officials said Tuesday. The No. 1 insurance firm in South Korea will be inspected over whether it has made sure its insurance planners have not offered policyholders any rebates or incentives that exceed the legal limit, officials at the Financial Supervisory Service (FSS) said.
Nov. 19, 2013
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U.S. court ordered to rethink injunction on Samsung's smartphone sales
A U.S. appeals court issued an order Monday for a district court to reconsider Apple's bid to prohibit Samsung Electronics from selling some smartphones in the U.S. market.The ruling by the Court of Appeals for the Federal Circuit offers a new twist in the long-running patent row between the rival firms.In December, the U.S. District Court in Northern California rejected the injunction request filed by Apple against the South Korean tech giant. Apple has claimed that Samsung products infringed o
Nov. 19, 2013
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Korea, China to discuss listing of highly sensitive items at FTA talks
Korea and China kicked off second-phase negotiations to conclude a bilateral free trade agreement in Incheon on Monday, in which both sides will tackle market opening and liberalization item by item, Seoul officials said. The FTA talks between the two countries, which will last until Friday, are the eighth such round. The two sides completed the first-stage talks in September in China where both sides agreed on the basic guidelines, or modality, for the second-phase talks on item-by-item tariff
Nov. 18, 2013
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[Photo News] Ballantine's new release
Nov. 18, 2013
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Merck confident in flexible displays
Merck Korea’s head Michael Grund said Monday the company was confident of success in the burgeoning flexible display market with its “full-step approach.”Grund said at a press conference in Seoul that “for the development of flexible and bendable displays, not only liquid-crystal display and organic light-emitting diode technologies, but other parts and materials like transistor and organic chemistry should also be developed.”Unlike its rival companies focused on one or two materials, Merck has
Nov. 18, 2013
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KT executive resigns over legal battle
The global head of KT Corp. resigned following a legal battle over the executive’s recruitment, the company said on Monday. Kim Cheol-su, the head of KT’s global partnership development and consulting business, stepped down after a district court last week granted LG Uplus an injunction blocking Kim’s transfer to the rival firm.Kim, a former vice president of LG Uplus overseeing the mass service division, retired from the post in March and moved to KT in September. Right after he moved to KT, LG
Nov. 18, 2013
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Asiana Airlines to adopt new passenger service system
Asiana Airlines said Monday it will upgrade its management of passenger services with its next-generation customer management platform provided by Amadeus, a leading solution provider for the travel industry. The air carrier said it will replace its existing passenger service systems with Amadeus’ Altea Customer Management Solution that will improve sales quality overall, including ticket sales, reservations and departure control operations.The Amadeus platform, which is expected to more than ha
Nov. 18, 2013
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Hyundai aims to sell 100,000 Mistra cars in China next year
BEIJING (Yonhap News) ― Hyundai Motor Co., South Korea’s top carmaker, expects to sell 100,000 Mistra sedans in China next year, a company official said Monday, as it seeks to tap into China’s growing middle-class market. The Mistra, which is being made solely for the Chinese market, is set to hit showrooms in the country Tuesday, and Hyundai will show off the new model at an annual auto show in Guangzhou, China’s southern industrial hub, this week, said the official at Hyundai’s Chinese unit. “
Nov. 18, 2013
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Fila offers practical and trendy winter wear
Fitting, fashionable, functional and flexible ― these are the words best describing Fila’s trendy yet practical winter wear, according to Fila Korea. “Our jackets are designed to be slimming and fashionable, while being warm,” Lee Ji-hyun, head of Fila’s design team. “This is why we’re sure we can offer a trendy yet practical option for all of our customers.” As Lee mentioned, the most prominent feature of Fila’s down jackets is that they are light and stylish, while at the same time filled with
Nov. 18, 2013
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Labor ministry to probe Samsung over labor practices
The labor ministry said Monday it has begun looking into allegations that Samsung Group instructed its subsidiaries to foil any attempt by their workers to organize labor unions.The move comes after an opposition lawmaker unveiled the conglomerate's 2012 document on labor-management affairs strategy on Oct. 14, which carries an instruction that companies should lead employees to disorganize a trade union if one is established. Based on the document, the Korean Metal Workers' Union, Lawyers for a
Nov. 18, 2013
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LG takes electric car initiative
LG takes electric car initiative DECK: LG Chem’s battery division may absorb LG auto unit for bigger synergy By Kim Ji-hyun LG Chem will no doubt play a key role in manufacturing faster electric cars for Renault, one of the world’s leaders in the segment, according to recent developments. But it remains to be seen just how it will work, whether it will be in LG’s advantage and how it will help the firm find new drivers of growth, especially as LG Electronics’ new Vehicle Components unit appears
Nov. 17, 2013
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Crash spurs concerns over helicopters run by firms
The exact cause of the weekend crash of an LG-owned helicopter into an apartment building in Seoul is still unknown, but criticism is mounting against the firm for operating the chopper in poor weather conditions. The bone of contention is whether LG Electronics had forced the pilots to make the pick-up at Jamsil, or they made the decision on their own. In either case, however, LG will not be able to avoid criticism that it had chosen convenience over safety, industry watchers said. The U.S.-mad
Nov. 17, 2013