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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Korea added to key bond index
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Shinsegae expands investment to W2.5tr
Shinsegae Group has raised this year’s investment to 2.5 trillion won ($2.2 billion), its largest-ever sum, with the aim of boosting the sluggish domestic economy, the nation’s second-biggest retailer said Monday. The investment is expanded from 2 trillion won announced earlier this year and is up 10 percent from last year’s 2.2 trillion won, according to group officials. “Despite economic uncertainties in Korea and abroad, we have decided to invest more actively in order to help the sluggish ec
Aug. 5, 2013
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3M Korea’s Lee to head Australia-N.Z. business
3M Korea said Monday that Junhan Lee, safety and graphics senior manager, has been named managing director of 3M Australia and New Zealand as of Aug. 1. It is the fourth time that the Korean unit of the U.S. multinational conglomerate 3M has produced regional chiefs in other markets from among its own staff members.Lee majored in English language and literature at Konkuk University and joined 3M Korea in 1991. He has served diverse positions, especially in industrial safety areas. “Lee’s appoint
Aug. 5, 2013
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Samsung, LG dominate smartphone market in North America
Aggressive marketing tactics by Korean smartphone companies to gain traction in the North American market seem to be working as they solidify their positions in the region.According to the report by research firm Strategy Analytics on Monday, nearly half of mobile users, or 45.2 percent, living in the U.S. and Canada used Samsung or LG smartphones in the second quarter of this year. Samsung Electronics accounted for 35.2 percent of the market, selling 12 million handset units, and LG Electronics
Aug. 5, 2013
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Hyundai Heavy’s plant deal raises presence in Saudi power market
Hyundai Heavy Industries bolstered its presence as a global power plant builder in Saudi Arabia as it clinched its fourth mega-power plant construction deal with state-run Saudi Electricity Company. According to the company, HHI CEO Lee Jae-seong and SEC chairman Saleh bin Hussein Al Awaji signed a $3.3 billion power plant construction deal for the Shuqaiq steam power project in Riyadh on Sunday. In the deal, Hyundai Heavy will build a thermal power plant with a 2,640-megawatt capacity near the
Aug. 5, 2013
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Mahindra aspires to be ‘admired’
Mahindra & Mahindra has a dream.Over the next eight years, this Mumbai-based company yearns to join the ranks of the world’s 50 most admired companies. “When we go outside of India, or even within India, our objective is not just to sell more automobiles or IT services to make more money,” said Pawan Goenka, president of Mahindra’s automotive and farm equipment sectors, in an interview with The Korea Herald.As the manager of the two core units of a $16 billion industrial group in more than 100 n
Aug. 5, 2013
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Samsung appeals U.S. ITC ruling on Apple's patent infringement
In yet another twist in a series of patent wars with Apple Inc., Samsung Electronics Co., the world's largest smartphone maker, has submitted an appeal of a June ruling by a U.S. agency which said the iPhone maker was not infringing upon some of the South Korean company's patents, industry sources said Monday.Samsung's appeal in the U.S Court of Appeals for the Federal Circuit came as U.S. President Barack Obama last week issued a veto on a patent ruling by the International Trade Commission (IT
Aug. 5, 2013
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Samsung, LG bolster presences in N. American smartphone market
South Korea's top two smartphone makers -- Samsung Electronics Co. and LG Electronics Inc. -- saw their presences in the North American smartphone market rise in the second quarter, helped by robust sales of their flagship line-ups and product mix, data showed on Monday.Samsung Electronics, the world's top smartphone maker, held a 35.2 percent share in the region's smartphone market in the second quarter, up from the 29.4 percent the previous quarter, according to the data compiled by Strategy A
Aug. 5, 2013
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[Newsmaker] Will Hyun's visit help break N.K. stalemate?
Expectations were high over the weekend for the resumption of stalled business projects in North Korea following the Hyundai Group chairwoman’s visit to the communist state. Hyun Jeong-eun visited the North for six hours on Saturday to hold a memorial service for her late husband and former Hyundai chairman Chung Mong-hun, who pioneered North Korean businesses in the early 2000s.After her brief visit, she received a personal letter from the North’s young leader Kim Jong-un who wished the company
Aug. 4, 2013
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Samsung protests veto of Apple ban
Samsung Electronics is expected to make all-out efforts to pursue its patent rights through the courts following an unexpected decision by the White House to overturn a U.S. trade panel’s ban on the sale of older Apple devices. “We are assessing the situation. We will seek all legal methods to protect the company’s patent rights,” a Samsung official said Sunday on condition of anonymity. The U.S. International Trade Commission in June banned the import or sale of the iPhone 4, iPhone 3GS, iPad 3
Aug. 4, 2013
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Busan-Jinhae FEZ to launch 1st photo contest
The Busan-Jinhae Free Economic Zone Authority said on Sunday it would launch the first photo contest under the theme of the BJFEZ as part its promotion efforts. To join the photo competition, applicants should send one or two photos with the BJFEZ theme in both hard copy and digital format to the Authority between Oct. 1 and 31. The Authority will offer cash prizes of 9.2 million won ($8,200) for 24 photos. The top award winner will receive 2 million won as a cash prize. The gold medal winner an
Aug. 4, 2013
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Stocks edge up on sanguine U.S. data
South Korean stocks closed 0.14 percent higher Friday on better-than-expected economic data from the United States, analysts said. The local currency ended lower against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 2.64 points to close at 1,923.38. Trading volume was low at 293.6 million shares worth 3.98 trillion won ($3.54 billion), with gainers outpacing losers 460 to 321.“The better-than-expected manufacturing data from the U.S. and China added to investor sentiment
Aug. 2, 2013
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Hankook Tire appoints new global purchasing head
Hankook Tire appointed executive vice president Kim Hyoung-nam, 51, to head the company’s global purchasing unit in a move to strengthen the department and draw closer to becoming a top tier tire brand, the company said Friday.Kim has been working for three decades in the auto industry, with his expertise spanning research development to purchasing. His previous job was with Renault Samsung. Before that, he was with Kia Motors. Kim will be committed to handling Hankook Tire’s global purchasing t
Aug. 2, 2013
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Test shows S. Korean fisheries safe from radiation: gov't
South Korean fishery products are nearly free of radiation and safe to eat, the government said Friday, amid renewed public scare over possible contamination from radioactive leakage in Japan over two years ago.So far, South Korea has tested 165 samples of 15 species, including mackerel, cuttlefish and various species of seaweed that are popular delicacies here, according to the Ministry of Oceans and Fisheries.The results showed that 14 species tested were completely free of radiation with what
Aug. 2, 2013
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Market share of Android-based smartphones hits record in Q2: data
About two-thirds of smartphones shipped globally in the second quarter ran on Google Inc.'s Android platform, data showed Friday, further cementing its dominance over other operating systems (OS).Shipments of Android-powered smartphones totaled a record 183 million units in the April-June period, according to the data by Strategy Analytics.That translates into the Android platform powering 79.5 percent of smartphones shipped during the cited period, also a record high, the data showed.The surge
Aug. 2, 2013
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KT Q2 net sinks 44 pct on marketing costs
KT Corp., South Korea's top fixed-line and No. 2 mobile operator, said Friday its second-quarter net profit plunged 44 percent from a year earlier due to increased marketing costs on long-term evolution (LTE) service and one-off costs.Net profit reached 133 billion won ($118 million) in the April-June period, compared with 237 billion won a year earlier, the Seoul-based company said in a regulatory filing.Sales edged up 0.4 percent on-year to reach 5.76 trillion won over the cited period, and op
Aug. 2, 2013
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Hyundai-Kia, Sssangyong sales rise
South Korea’s largest carmaker Hyundai Motor Co. said Thursday that its sales jumped 9.4 percent in July from a year earlier as its strong overseas sales helped offset a slight drop in the domestic market.Hyundai sold 363,251 vehicles in July, compared with 332,176 units in the same month in 2012, the company said in a statement.Its domestic sales dipped 1.1 percent on-year to 59,302 vehicles last month, while overseas sales jumped 11.7 percent to 303,949 units, according to the carmaker.The sal
Aug. 1, 2013
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Samsung Engineering names new CEO
Samsung Group named Park Choong-heum, executive vice president of Samsung Engineering, to head the company after sacking Park Ki-seok for a recent water-tank blast incident, officials said.Three workers were killed and more than 12 people were injured when a 1,400-ton water tank burst at a Samsung Fine Chemicals plant last Friday.The exact cause of the accident is being investigated. (wone0102@heraldcorp.com)
Aug. 1, 2013
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Han Sung Motor renews commitment to Korea
On Tuesday at Konjiam Resort in Gyeonggi Province, Ulf Ausprung, chief executive of Han Sung Motor, was fussing with a piece of paper ― not Mercedes-Benz cars ― together with a group of young students.Joining a painting program, he was “drawing” his name in Korean letters in a style inspired by “dan-cheong,” a colorful traditional Korean pattern used on ancient wooden buildings.Han Sung Motor, the largest Mercedes-Benz car dealer in Korea, last year launched the Dream Greem (Picture) Project tha
Aug. 1, 2013
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Samsung unit chief sacked over water tank explosion
Samsung Group said Thursday that it fired the chief of its engineering unit Samsung Engineering Co., holding him responsible for a water tank explosion that killed three workers Friday.A water tank burst during a stress test at a polysilicon plant construction site inside Samsung Fine Chemicals in Ulsan, about 410 kilometers southeast of Seoul. The accident also injured more than 10 workers.According to the police, the 1,300-ton water tank was being filled for the third day to detect any cracks
Aug. 1, 2013
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Hyundai-Kia focuses on overseas plants
Hyundai Motor Group, which has rushed into overseas markets for further growth, has recently set up a new major division exclusively in charge of controlling overseas factories, officials confirmed Wednesday. The new division, called the Global Plant Coordination Division, is located at the Korean auto giant’s Seoul headquarters to oversee 15 factories in eight countries that the Hyundai and Kia brands operate globally. Lim Young-deuk, former chief of Hyundai Powertech, a transmission maker affi
July 31, 2013