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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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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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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Singapore Airlines unrivaled in service
Singapore Airlines has earned international recognition through unrivaled quality service that reflects the company’s commitment to innovation. The air carrier topped Business Insider’s “20 Best Airlines in the World” list this year and the “Best Airline for Premium Class Travel” for the first and business classes in 2012 by DestinAsian. It also won the industry’s top honors such as Fortune magazine’s “World’s Most Admired Companies, Top 50” and Skytrax’s Best Business Class and Cabin Staff awar
June 26, 2013
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Toyota to recall Prius vehicles for faulty brake system
Certain model year Toyota Prius vehicles will be recalled in South Korea for the vehicle's faulty brake system, the transportation ministry said Wednesday. A defect in the car's brake booster may lead to a significant increase in the braking distance, and thus jeopardize the safety of the vehicle, according to the Ministry of Land, Infrastructure and Transport. Subject to the recall are 130 Prius vehicles produced between Oct. 31, 2008 and Oct. 9, 2009. Free repair services will be provided f
June 26, 2013
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Duty-free shops riding on hallyu into 10th year
Chinese tourists packing an elevator to the Lotte Duty Free Shop in downtown Seoul can’t take their eyes off a small screen that shows Girls’ Generation twirling around in doll-like garb.The beaming K-pop group no doubt adds to the shoppers’ delight as they are about to begin the highlight of their trip to Seoul.Hallyu stars are proving to be highly effective marketing icons for the nation’s largest duty-free shops as they enjoy an avalanche of Chinese and Southeast Asian customers. Lotte Duty F
June 25, 2013
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Watchdog OKs resumption of Wolseong reactor 2
The state-run nuclear watchdog on Tuesday approved the resumption of a nuclear power plant which has been suspended since late April for maintenance.The Nuclear Safety and Security Commission said the Wolseong No. 2 reactor met the performance standards for operation in its regular inspection that started on April 24. The 700-megawatt nuclear power plant located in Wolseong, some 400 kilometers southeast of Seoul, is expected to provide some relief to the nation battling power shortages.South
June 25, 2013
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Car manufacturers’ feelings mixed on aluminum models
British luxury carmaker Jaguar recently put a 2.0-liter gasoline engine into its flagship XJ limousine. Despite the smaller engine, the car’s agility is not seriously affected thanks to its all-aluminum body. In recent years, carmakers have been devoting considerable resources to developing lightweight vehicles. Reducing a car’s weight by 10 percent can improve fuel economy by 6-8 percent, industry watchers say. And one of the key alternative materials is aluminum. Experts say that aluminum perf
June 25, 2013
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Daewoo Shipbuilding wins $570m drill ship order
Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Tuesday that it has clinched a $570 million order to build a drill ship for a U.S. firm.Under the deal with Atwood Oceanics, Daewoo Shipbuilding will deliver the drill ship used to search for oil and gas wells in deep waters by the end of 2015, the company said in a regulatory filing.In January last year, Daewoo Shipbuilding received a similar deal from the same company to build a drill ship as well.A drill ship is a
June 25, 2013
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Seoul opens call center for utilization of FTAs
South Korea on Monday opened a call center to help local businesses better utilize the country’s free trade agreements.The FTA Call Center can be reached by dialing 1380, and will provide country or region-specific information on how local firms can benefit from the country’s FTAs, according to the Ministry of Trade, Industry and Energy.South Korea is already enforcing nine bilateral and multilateral FTAs with 46 countries, including the United States and members of the European Union.There are
June 24, 2013
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Personal bailouts up 20% through May
South Koreans filing for a personal bailout program surged 20 percent through May this year, the state-run debt counseling agency said Monday, apparently due to the protracted slump in the economy.The number of people petitioning to get protection under the program came to 44,172 through May this year, compared to 36,846 tallied over the cited period last year, according to the Credit Counseling & Recovery Service.The government’s personal bailout program is designed to give people some leeway o
June 24, 2013
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Korea, Saudi Arabia seek nuclear energy cooperation
South Korea and Saudi Arabia sought to boost their cooperation in nuclear energy Monday in a meeting attended by their energy ministers.“The nuclear technology advanced by South Korea will be of a great help to Saudi Arabia in its project to build nuclear power plants,” Seoul’s Energy Minister Yoon Sang-jick said, according to the Ministry of Trade, Industry and Energy.Saudi Arabia, the world’s largest supplier of petroleum, plans to build up to 16 nuclear reactors by 2032 as a way of diversifyi
June 24, 2013
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Korea sets sights on regional oil hub
Korea completed the construction of the nation’s largest oil tank terminal in Yeosu, South Jeolla Province, on Monday, as part of its goal to become a Northeast Asian oil hub.As part of the goal, the state-run Korea National Oil Corp. has led oil tank terminal construction projects in Yeosu and Ulsan since 2008, both of which have leading petrochemical industrial complexes near the tank terminal sites. “The Yeosu tank terminal completed the construction in March this year of 36 tanks whose crude
June 24, 2013
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Samsung, Daewoo vie for $5.6b Russian order
Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are fiercely vying for Russia’s mammoth project to build 16 LNG carriers, industry sources said on Monday.The nation’s major shipbuilders were selected as preferred bidders for Russia’s gas carrier project scaled at $5.6 billion, according to the sources.The Yamal project is led by Russia’s largest independent natural gas producer Novatek and France-based global oil and gas supplier Total.The Korean firms gained the upper hand
June 24, 2013
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LIG Nex1 targets overseas market
Since its founding in 1976, LIG Nex1 has been a leading defense contractor in Korea, contributing not only to the rapidly growing domestic economy but also to the security of its home country.Over the past 37 years, the company has led Korea’s defense industry with innovative ideas and technological know-how. And it is eyeing an increasingly large slice of the international defense field. LIG Nex1 has built a strong global network with some 40 countries around the world. It has maintained strate
June 24, 2013
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RE/MAX Korea to offer property consulting
RE/MAX Korea aims to revolutionize the nation’s real estate market with its advanced consulting know-how, company officials said.The real estate consulting agency was established in May by Wide Partners Co. in Korea and RE/MAX, the world’s top property consulting company. Established in 1973, the U.S.-based real estate franchise company RE/MAX entered the Korean market in 2012. It has a wide overseas network, with more than 7,000 offices in 90 countries.“We will work on creating a new paradigm a
June 24, 2013
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Ssangyong undeterred by fraud allegations
Ssangyong Motor has once again dismissed allegations that it sought to lay off employees by rigging its financial statements in 2009. The carmaker pledged to increase its focus on continuing recent sales momentum. Some opposition lawmakers and labor groups have claimed that Ssangyong fabricated its financial statements and omitted its assets to build up artificial factors, leading to large-scale restructuring when the company was placed under court receivership four years ago. Although the court
June 24, 2013
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Scoot Airlines fast rising in budget carrier market
The rise of time-rich and cash-poor travelers has opened a golden business opportunity for Asia’s budget carriers. Scoot has seized it by focusing on leisure-oriented and medium-distance flights. “There has been a really fast, large growth in the number of people who are now used to comfortable, low-cost travel,” Scoot Airlines chief executive Campbell Wilson told The Korea Herald during his recent 24-hour visit to Seoul. Scoot Airlines, a wholly owned subsidiary of Singapore Airlines Group, lau
June 23, 2013
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Summer season boosts coffee sales, but not sodas
Monthly sales of coffee and tea outpaced those of soft drinks such as coke and cider for the first time in June, according to industry sources on Sunday.While the sales distribution ratio showed soft drinks taking up 58.6 percent and coffee drinks 41.4 percent in the previous year, it was overturned by the rise in coffee sales percentage soaring to 55.6 percent and soda sales decreasing to 44.4 percent as of June 20. Sales for soft drinks experienced a fall of 26 percent as well, while those of
June 23, 2013
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Volkswagen ordered to recall 1,930 vehicles
German automaker Volkswagen has been ordered to recall three models of its Golf subcompact and Jetta sedan, the Ministry of Land, Infrastructure and Transport said Sunday.The latest recall is related to electrical flaws in the German cars' gear transmission system, the ministry said.The recall will affect a total of 1,930 Volkswagen vehicles, comprising 370 units of the Golf 1.4 TSI, 1,078 units of the Golf 1.6 TDI BMT and 482 units of the Jetta 1.6 TDI BMT, all built between May 31, 2010 and Au
June 23, 2013
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Bug exposes contacts of some on Facebook
(AP) -- Facebook says a bug in its system led to users' contact information -- such as email addresses or phone numbers -- to be accessed by other users who either had some contact information about that person or some connection to them.The social media company said in a blog post that the cause of the bug is ``pretty technical'' but that the problem is tied to its ``Download Your Information'' tool.The company uses the information that users upload to better tailor the friend suggestions it is
June 22, 2013
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Nissan Korea seeks revival under new chief
Nissan Korea on Friday said it had named Takehiko Kikuchi, 45, as its new chief in an effort to improve sluggish sales. Kikuchi, who will be taking office as of July 1, is a Waseda University graduate who has been with Nissan since 1991.His career includes marketing executive at Dongfeng Motor Co., Nissan’s joint venture with China, where he was lauded for effectively expanding Nissan’s presence in the region. Kikuchi also oversaw Nissan’s Indian business. Since 2011, he headed Nissan’s Wakayama
June 21, 2013
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LG resumes courses to nurture IP specialists
LG Electronics, the world’s second-largest TV maker, announced on Friday the resumption of its Intellectual Property School this year. In an effort to produce more specialists in the IP field as competition for patents and other intellectual property is deepening among electronics makers, LG has held the annual five-month long courses on various subjects ranging from negotiation to litigation, licensing, IP analysis and patent laws since 2009. This year, some 400 LG employees and affiliates spec
June 21, 2013