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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Taking away phones during school hours not a human rights violation: watchdog
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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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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Kang resigns from STX unit
STX Group chairman Kang Duk-soo will resign as CEO of the conglomerate’s shipbuilding unit, which has been suffering from a liquidity shortage caused by the global economic slowdown, company officials said on Monday.The resignation plan was announced after the board of STX Shipbuilding & Marine Engineering decided to replace him with Park Dong-hyuk, a vice president at rival Daewoo shipbuilder.Kang accepted the decision, a serious blow to the chairman who established the nation‘s fourth-largest
Sept. 9, 2013
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LGE vows aggressive pursuit of rivals
BERLIN ― LG Electronics on Friday sought to dispel skepticism on the local electronics firm’s competitive edge over Samsung and other rivals from China and Japan. “LG will forge full cooperation with its affiliates such as LG Display, LG Chem and LG Innotek to reach the top of the TV market,” said Kwon Hee-won, the president of LG’s home entertainment business. He dismissed the challenges posed by Sony, which unveiled a 65-inch LED curved TV, UHD TVs unveiled by Chinese firms, and pledged to wid
Sept. 8, 2013
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Philips focuses on ‘value creation’ in TVs
BERLIN ― In contrast with electronics makers such as Samsung and LG that are vying for leadership in the European market, the head of Philips’ TV joint venture says the firm is not out to secure the largest market share.“We play in a different way from Samsung, which is the No.1 player in Europe. We are not aiming to challenge the top position. We do not only just focus on growth, but also look for creating value for shareholders and consumers,” said Maarten de Vries, CEO of TP Vision, a joint v
Sept. 8, 2013
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Analysts paint rosy future for battery makers
Analysts at some domestic securities companies are upgrading the target stock price of LG Chem, citing the growth potential of the rechargeable battery market.Eugene Investment Securities said Friday that the lithium-ion battery maker’s target stock price was raised to 384,000 won ($350) from 302,000 won. “The rising sales of the U.S.-based Tesla’s electric vehicles will have a positive effect on LG Chem’s battery business,” said Eugene researcher Kwak Jin-hee. “Considering Tesla’s target sales
Sept. 6, 2013
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Lego sales rise on Asia growth, now 2nd biggest toymaker
Danish toy maker Lego on Thursday reported an 18-percent rise in first-half net profit as revenue grew 13 percent, fuelled by growth in Asia as developed markets stalled.Lego, now the world's second-biggest toy manufacturer behind Mattel of the US, said its largest markets North America, Europe and Japan had experienced a slow start to the year."Despite this tough dynamic, our data indicates that consumer sales of Lego products for the first half of 2013 grew nine percent globally," chief execut
Sept. 6, 2013
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Hyundai Motor's labor, management reach wage deal
The labor and management of South Korea's largest carmaker Hyundai Motor Co. tentatively agreed Thursday on a wage deal, putting an end to the ongoing strike.During a new round of negotiations, the two sides narrowed their differences and came up with an interim agreement, which will be put to vote on next Monday.The agreement came after 25 rounds of negotiations over a wage hike and other labor issues that lasted for the past 101 days.Upon the beginning of the talks, Hyundai's unionized workers
Sept. 5, 2013
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KT strives to innovate via design
Management via design was traditionally focused on manufactured products ― industrial design being the best-known aspect of “design management” ― and has recently been expanding into service sectors such as mobile operators, airlines, banks and hotels. This may be chiefly because the nation’s top business groups, most of which are manufacturers, are utilizing design as a key asset for their business growth and innovation, while the service industry, in contrast, is still in the developing stages
Sept. 5, 2013
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Electronics trade fair IFA to kick off
BERLIN ― This year’s IFA, one of the world’s two largest consumer electronics trade fairs along with the CES in Las Vegas, kicks off on Friday for a six-day run, with buyers, tech enthusiasts and visitors flocking to Berlin to get a glimpse of the latest high-end technology.More than 1,300 electronics firms from 50 countries including Samsung Electronics, LG Electronics, Sony, Acer, Huawei and HTC will exhibit their flagship products and technology, including ultra-high-definition and smart TVs,
Sept. 5, 2013
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Global retailers demand more Ssangyong cars
JEJUDO ― Up to 100 representatives of Ssangyong Motor retailers worldwide gathered here on Wednesday to swap stories of how well Ssangyong was doing in their home countries and enjoy a chance to test-drive the hot-selling New Korando C SUV on the picturesque island. Doubt was the last thing on their faces, and understandably so since the Korean carmaker, after years of anemic sales, was finally gaining some momentum, as recent figures show. After fulfilling its sales goals for the first half of
Sept. 5, 2013
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[Newsmaker] STX chairman's fate hanging by a thread
Kang Duk-soo, 63, chairman and founder of the faltering STX Group, is likely to step down within this month due to conflict with creditors. Representing creditor banks, Korea Development Bank issued a statement on Tuesday calling on him to resign to save the group. The request was made based on the earlier agreement of Kang in April, a pre-condition for capital injection to ailing STX Offshore & Shipbuilding, a core affiliate of the group.Under the agreement, Kang promised not to raise objection
Sept. 4, 2013
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Conglomerates step up sports marketing
Lionel Messi, Cristiano Ronaldo, Neymar da Silva, Gareth Bale and Son Heung-min have more in common than being outstanding soccer players: They either are sponsored by or have a contract with Korean companies. Sports sponsorship is not new. It has long been used by private firms to build a close bond with consumers and promote their brand images.Samsung and LG, which currently market themselves through sports including soccer, baseball, basketball and cricket, are ratcheting up their sports mark
Sept. 4, 2013
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Pernod Ricard aims to seize rival Diageo’s ‘whiskey throne’
Pernod Ricard Korea is looking to overtake its main competitor Diageo Korea in Korea’s whiskey market with an all-new look for the French distilled beverage giant’s flagship “Imperial” brand.The Korean unit’s CEO Jean-Manuel Spriet said Wednesday that it has renewed Imperial’s design in a diamond-like shape with anti-forgery features embedded in its bottle caps with the aim of “closing the gap” with its rival in Korea. The key strategy to grab a bigger slice of the market, despite the whiskey do
Sept. 4, 2013
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Machine-to-machine market poised to expand
The machine-to-machine market, traditionally focusing on the industrial sectors, has been expanding into consumer markets with the rising use of smart devices. M2M refers to technologies allowing devices to communicate with each other without human intervention, and control surroundings by intelligently collecting and processing information. The typical M2M markets in Korea are the “Hi-pass” automated toll charging system, closed-circuit television, volume-rate garbage disposal system, and bus m
Sept. 4, 2013
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[Photo News] Samsung opens markets
Sept. 4, 2013
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Sales of radiation detection devices surge in August
With the radiation scare sparked by massive and repeated radioactive water leaks into the ocean in Japan, spreading, sales of radiation detectors are soaring, according to Gmarket, a leading online shopping mall, on Tuesday in a press release. Sales of radiation detectors soared 90 percent in August over a year ago, Gmarket said, adding the company sold 40 such devices last month. “As the fear is related to health issues, high-priced radiation detectors are coveted the most. In the measurement p
Sept. 3, 2013
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Kakao Home to debut in global market
Korean mobile messenger service Kakao Talk said it would bring its mobile launcher called Kakao Home to the global market.“The launcher business has a lot of potential so many firms are jumping into the market. Kakao Home will also be serviced in English for global users by October,” said an official from the messenger firm. Currently, a limited range of Kakao Home services in the English language are available in Korea but the official said the firm would soon release a better one for the world
Sept. 3, 2013
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Diageo Korea bets on non-whiskey drinks
Diageo Korea, the nation’s biggest whiskey seller, said Tuesday that it aimed to increase its proportion of non-whiskey products to 50 percent.CEO Cho Kil-soo said at a news conference that his company would increase its focus on vodka and imported beer, adding that wine would not be prioritized as much. Cho took office as the managing director of Diageo North Asia on July 1. “Umbrellas sell on rainy days and ice cream sells on sunny days,” the Korean chief said. “A railroad builder cannot just
Sept. 3, 2013
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Bill aims to slash foreign cars’ repair costs
Foreign carmakers are facing renewed pressure to lower their hefty repair costs, with a new bill pending at the National Assembly to allow Korean manufacturers to produce replacement auto parts. Unlike in other advanced markets such as the United States, Europe and Japan, import car manufacturers here own an exclusive right to supply auto parts through their dealership service centers only.And this practice has been picked as the main reason why foreign-brand cars have maintained high costs and
Sept. 3, 2013
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[Photo News] Chuseok discount
Sept. 3, 2013
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[Photo News] Safety for children
Novelis Asia president Shashi Maudgal (left) and Song Ja, chairman of Safe Kids Korea, pose after the steelmaker agreed to donate portable oxygen masks and disposable fire extinguishers for children’s fire safety education programs by the foundation on Tuesday in Seoul. (Novelis Asia)
Sept. 3, 2013