Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
3
Korean language teaching expert says demand has outstripped supply
-
4
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
Who is pollster roiling politics with claims of government string-pulling?
-
7
Taking away phones during school hours not a human rights violation: watchdog
-
8
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
9
Korea launches antidumping probe into Chinese steel
-
10
Korea added to key bond index
-
Kia Motors' Q2 net profit up 7.7 pct
Kia Motors Corp., South Korea's second-largest automaker, said Friday its second-quarter net profit jumped 7.7 percent from a year earlier due to increased profits from its equity investments.Net profit came to 1.18 trillion won (US$1 billion) in the April-June period, compared to 1.09 trillion won from a year earlier, the Seoul-based company said in a regulatory filing.Sales increased 4.5 percent on-year to reach 13.1 trillion won, but operating profit dropped 8.5 percent to 1.1 billion won.Kia
July 26, 2013
-
Samsung reaps record profit in saturated market
Samsung Electronics, the world’s largest smartphone maker, reported its largest-ever quarterly earnings Friday, but a slowdown in growth momentum fueled fears of market saturation for high-end handsets. The Korean IT giant said its second-quarter operating profit surged 47.5 percent from a year ago to 9.35 trillion won ($8.4 billion), while sales during the April-June period reached 57.46 trillion won, a 20.73 percent rise. But the record figures that fell short of analysts’ estimates were dampe
July 26, 2013
-
Hyundai picks small agency for big ad project
Hyundai Motor Group has picked a small advertising firm “Creative Air” to develop the group’s corporate image as part of its efforts for shared growth with smaller firms, officials said Thursday. The Korean auto giant, which used to give such large-scale ad projects to its own in-house advertising agency Innocean Worldwide, announced in April it would share 65 percent of annual orders, worth 120 billion won ($101 million), with outside firms. The latest deal is worth 8 billion won.Following the
July 25, 2013
-
Pernod Ricard’s ‘Glenlivet’ wins 12 gold prizes
Pernod Ricard SA’s single malt whisky “The Glenlivet” won 12 gold prizes in two globally recognized international whisky competitions, the company said on Thursday. The Glenlivet won seven gold medals in the International Spirits Challenge, or ISC, with its 12-year, 15-year, 18-year, 21-year and 25-year whiskies as well as with the Glenlivet Master Distiller’s Reserve and the Glenlivet Nadurra. The company takes special pride in its 18-year Glenlivet, the winner of this year’s Best In Class Awar
July 25, 2013
-
Korea to tap economic opportunities in Arctic
The Ministry of Oceans and Fisheries unveiled on Thursday a master plan to tap economic opportunities in the Arctic, which includes developing a shipping route and natural resources in Greenland.The ministry has pushed for development of the plan since last May when Korea won permanent observer status at the Arctic Council, the international body in charge of not only environmental protection but also economic development projects in the North Pole region. The melting of ice in the Arctic is a
July 25, 2013
-
POSCO profits rise in second quarter
Though it still faces a rough period ahead until the year’s end, the nation’s top steelmaker POSCO rebounded during the second quarter, boosted by cost reduction in the steel sector and profit growth in the non-steel sectors.The company recorded 15.6 trillion won ($14 billion) in sales, 903 billion won in operating profits, and 703 billion won in net profits during the second quarter of this year, it said through an investor relations conference on Thursday.In terms of operating profit, this was
July 25, 2013
-
French prime minister eyes stronger foothold for business in Korea
French Prime Minister Jean-Marc Ayrault stressed on Thursday that Korea will act as a strategic foothold for France to expand its presence in the all-important Asian market. “We see strong growth potential in Asia. We want to find more business partners in the region,” Ayrault said at a meeting with the French-Korean business community here at a Seoul hotel. “The Korean market is expected to pave the way.”He acknowledged that France and other European countries have suffered from the prolonged f
July 25, 2013
-
POSCO's Q2 profit dips on weak demand, prices
POSCO, South Korea's leading steelmaker, said Thursday that its second-quarter net profit sank 48 percent from a year earlier on weak demand and decreased prices.Net profit reached 241 billion won (US$216 million) on a consolidated basis in the April-June period, compared with a profit of 466 billion won a year earlier, the company said.Sales dipped 5.4 percent on-year to 15.6 trillion won, and operating income also dropped 30.5 percent to 903 billion won over the cited period, it said.Shares of
July 25, 2013
-
SK hynix swings to black in Q2
SK Hynix, the world’s second-largest memory chipmaker, on Thursday reported record-breaking quarterly earnings on the back of timely investment and sanguine market conditions.Sales reached 3.93 trillion won ($35.2 billion) while the operating profit stood at 1.11 trillion won. Both were an all-time high for the company. Net profit swung to the black from a 53 billion won deficit in the same period last year. “Technology migration, combined with cost-cutting measures and improved market condition
July 25, 2013
-
U.S. House panel okays Korea nuclear accord bill
A U.S. House committee passed a bill Wednesday to extend the current South Korea-U.S. civilian nuclear energy accord until 2016, a move intended to give the two governments more time to negotiate a revised agreement."This extension would allow the negotiators time to focus on substantive matters of the agreement instead of focusing on the clock," Rep. Ed Royce (R-CA), chairman the House Foreign Affairs Committee, said in a press release. He submitted the bill in June.It requires approval from th
July 25, 2013
-
FTC orders S.M. to correct wrongdoings against JYJ
The dispute between S.M. Entertainment and K-pop idol group JYJ has come to an end as Korea’s antitrust agency ordered S.M. Entertainment to correct and undo its wrongdoings against the three-member boy band.The Fair Trade Commission said Wednesday that it sanctioned S.M., one of the top three talent agencies in Korea, for its attempts to block JYJ from appearing on music television shows and distributing their albums over the years.S.M., in collusion with the Union of Korean Pop Culture and Art
July 24, 2013
-
Creative economy focus of policy to create jobs, seek innovation
The Ministry of Science, ICT and Future Planning said Wednesday that it would seek to achieve a creative economy centered on the people and job creation in the latter half of this year. “The ministry invested 60 percent of its entire budget of 12 trillion won ($10 billion), and will put the rest into job creation in the latter half,” Cho Kyung-shik, a senior director at the ministry, said at a press briefing. The ministry explained that it would focus on installing incubator centers for start-up
July 24, 2013
-
Galaxy S4 LTE-A reinforces market lead
Samsung Electronics new Galaxy S4, which uses Long Term Evolution-Advanced technology, has reinforced its lead in the market. Released in June, the latest in Samsung’s Galaxy series is the first phone in the world to allow users to experience the world’s fastest mobile Internet services. The release of the Galaxy S4 LTE-A reflects the world’s largest mobile phone maker’s position at the forefront of the smartphone market, and particularly in LTE models. It unveiled the Craft, the world’s first L
July 24, 2013
-
LG Electronics Q2 net slips 8 percent
South Korean consumer electronics giant LG Electronics Inc. said Wednesday its second-quarter earnings declined 8 percent from a year earlier largely due to increased marketing costs and one-off costs.Net profit reached 156 billion won (US$140 million) in the April-June period, compared with a profit of 169 billion won a year earlier, LG Electronics said in a regulatory filing.Revenue jumped 10.1 percent on-year to 15.23 trillion won over the cited period, while operating profit declined 9 perce
July 24, 2013
-
Samsung Electronics boasts top working conditions: report
Samsung Electronics Co., the world's leading smartphone marker, was found to have one of the most favorable working conditions in South Korea and to have contributed the most to the local economy, a report showed Wednesday.According to the report released by Chaebul.com, a business researcher, the tech giant saw its working environment index reach 66.3 points out of 100, marking the highest grade among 300 local companies tallied.The index takes four criteria -- contributions to the economy, emp
July 24, 2013
-
U.S. car sales in S. Korea soar after FTA, official says
U.S. Secretary of Commerce Penny Pritzker said Tuesday that U.S. automobile sales to South Korea have sharply grown since a bilateral free trade agreement (FTA) went into effect in March last year.She was stressing the effects of existing FTAs with South Korea and other nations as Washington seeks to expand similar bilateral or multilateral trade deals."To help our exports keep growing, the (Barack Obama) administration has implemented new trade agreements. They are already bearing fruit," she s
July 24, 2013
-
LG Display to bolster OLED business
LG Display, the world’s top liquid crystal display maker, said that it would invest more in installing production lines for organic light-emitting diode panels, signaling a challenge to its biggest competitor Samsung Display. At a meeting with reporters at the firm’s industrial complex in Paju on Monday, LG Display CEO Han Sang-beom said the firm would reinforce its OLED business, hinting that the firm was pondering the addition of OLED production lines at LCD factories now under construction in
July 23, 2013
-
POSCO ICT wins W100b deal from Vietnam
POSCO ICT Co., a unit of South Korea’s leading steelmaker POSCO, said Tuesday that it has secured a 100 billion won ($89.5 million) deal to provide IT services for a planned railroad project in Vietnam.According to the company, it will provide engineering and information technology services for a 20.2 kilometer-long railroad linking Ben Thanh, a downtown area of Ho Chi Minh City, to Long Binh in District 9.The railroad is scheduled to start operations in 2019, according to POSCO ICT.POSCO ICT is
July 23, 2013
-
BMW i3 electric car starts at $46,000
BMW will sell its battery powered i3 electric car starting at 34,950 euros ($45,900) when it goes on sale in Germany in November, the carmaker said Tuesday. The four-seater hatchback will be revealed at unveiling events in London, New York and Beijing on July 29, the company said. Its Korean launch is scheduled for May next year.The i3 is built on an entirely unique platform, a combination of aluminum and carbon fiber reinforced plastic produced at a plant in Washington to achieve a lighter weig
July 23, 2013
-
Doosan chairman capitalizes on global networking
Doosan Group chairman Park Yong-maan, 58, is actively engaging in socializing activities, not only at home but also overseas in a bid to strengthen brand image of Doosan as a global infrastructure giant. Doosan boasts the longest corporate history in Korea, but it is a new player in infrastructure, as it transformed from a food and beverage giant into a heavy industry player through a number of merger-and-acquisition deals in the 2000s. The Doosan Business Forum is one of such networking events
July 23, 2013