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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Lotte to open ‘Korean-style’ shopping center in Jakarta
Retail giant Lotte Shopping is to open today a new department store and duty free shop in Jakarta, Indonesia.The Lotte Shopping Avenue Jakarta is to be a comprehensive shopping center, including a department store, casual shopping mall and a duty free shop, according to officials.It is the company’s fifth department store overseas and its first duty free shop in a downtown area. The 124,600-square-meter mall is located in the Chiputra World Jakarta complex in the Mega Kuningan area, which the In
June 21, 2013
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Woongjin raided over alleged fraudulent CP issuance
Prosecutors on Friday raided the headquarters and offices of Woongjin Group as part of their investigation into allegations that several executives of the troubled mid-size conglomerate fraudulently issued commercial papers (CPs).The probe comes after the nation's securities regulator had reported the group's chairman Yoon Seok-keum, and four other executives to the Seoul Central Prosecutors' Office for alleged unfair trading in early May.A team of investigators and prosecutors seized relevant d
June 21, 2013
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Samsung picked best computing brand by Britain consumer group
Samsung Electronics Co., the world's largest maker of smartphones and computer memory chips, said Friday that it was named the best computing brand by a Britain-based consumer advocacy group.Which?, a product testing and consumer campaigning charity, rated Samsung as the best brand in the areas of mobile phone, laptop PC, tablet PC and printer, praising its breadth of high performance models across the whole range, according to the company.The Which? Awards is an annual event that celebrates the
June 21, 2013
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Samsung can be successful in Silicon Valley: marketing pro
Samsung announced plans in February to create a $1.1 billion fund to invest in Silicon Valley start-ups to search for new growth engines. Kevin Lane Keller, a world-renowned marketing expert with close ties to Samsung executives, says that’s perfectly doable. “Considering what Samsung has done so far, (Samsung’s initiative for open innovation) is achievable in Silicon Valley,” said Keller in an interview on the sidelines of a symposium on Thursday, which marked the 20th anniversary of Samsung’s
June 20, 2013
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Samsung to enter carbon fiber market
The nation’s largest conglomerate Samsung is to enter the fast-growing carbon fiber market by establishing a joint venture firm with one of the world’s most renowned manufacturers of carbon-based products.Samsung Petrochemical, the chemical subsidiary of Samsung Group, signed a contract with Germany-based carbon company SGL Group on Thursday to kick off a marketing and sales joint venture under the name “Samsung SGL Carbon Composite Materials.”The primary objective of the cooperation is to devel
June 20, 2013
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K-water edges toward Thai project win
Korea Water Resources Corp., or K-water, has completed price negotiations with the Thai government over a Thai water management and flood prevention scheme, raising hopes that the preferred bidder will win the massive project.“Both sides agreed to set the cost at 6.1 trillion won ($5.3 billion) to proceed modules A5 and A3 out of nine modules, which the Korean company won,’’ the Ministry of Land, Infrastructure and Transport said in its statement on Wednesday. The A-5 project to build floodways
June 20, 2013
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Starbucks CEO motivates staff with compliments
Lee Seock-koo, chief executive of Starbucks Korea, knows how to get people just aching to do a good job. His secret weapon? Compliments.Lee, who tours up to 20 Starbucks stores a week, is known to always carry “compliment cards” on him to write personal notes and memos to employees and executives who are doing an exceptional job on-site. Kim Chang-won, a manager in charge of Daejeon and South Chungcheong Province, is one Starbucks staffer who recently received an email from Lee containing this “
June 20, 2013
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Korea, Netherlands agree to cooperate in agro sector
Korea has agreed with the Netherlands to cooperate in agriculture, the Ministry of Agriculture, Food and Rural Affairs said Thursday. Agriculture Minister Lee Dong-phil signed a memorandum of understanding with his Dutch counterpart Sharon Dijksma to enhance exchanges and cooperation in agricultural policies, the ministry said. When it comes to agriculture policy, the Netherlands, the second largest exporter of agricultural and food products in the world after the U.S., has been a benchmark nati
June 20, 2013
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Nivea reborn as ‘Beiersdorf’
Nivea, a top skin care brand in Korea, this week said it changed its corporate name in Korea to Beiersdorf Korea in an effort to create an upscale image, the company said.The new name will go into effect as of July 1. Nivea is owned by the global cosmetic group Beiersdorf, which recorded sales of over 8 trillion won ($7 billion) last year.“During the past 20 years, Beiersdorf has successfully operated its business in the Korean markets in various categories centered on Nivea, and each year, we l
June 20, 2013
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India hopes to broaden business ties with Korea
A top Indian government official expressed hope that Korea and India would expand business cooperation, stressing that the two countries are the growth engines of the Asian economy.“The 21st century is the Asian century. I am very happy that we are part of it and India and Korea will play an important role,” said Jitin Prasada, minister of state for human resources development in India, in an interview with The Korea Herald this week.“I expect more cooperation between the two countries not only
June 20, 2013
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Sales at department stores rise, but drop at discount outlets in May
Sales at the country's major department stores grew slightly from a year earlier but sales of three major discount outlet chains here continued to drop last month, the government said Thursday.According to the Ministry of Trade, Industry and Energy, combined sales of three department store chains rose 1 percent from the same month last year in May.The ministry did not reveal the actual amount, but said May sales marked a 7.1 percent gain from the previous month, when the department store chains
June 20, 2013
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ITC to probe Samsung, LG over patent infringement
The U.S. International Trade Commission on Tuesday announced that it would investigate a complaint submitted by Black Hills Media last month regarding alleged patent infringement linked to major Korean and Japanese electronics companies. If the ITC rules in favor of the Delaware-based electronics firm, Korea’s Samsung Electronics and LG Electronics will face a ban of exports of their digital products including televisions, mobile phones and tablet PCs to the United States. The U.S. company filed
June 19, 2013
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Seoul court rejects petition by Qualcomm, Intel on antitrust fines
The Seoul High Court on Wednesday denied petitions by Qualcomm and Intel to annul fines levied by South Korea's antitrust watchdog for unfair business practices.The Fair Trade Commission (FTC) in July 2009 had slapped 273.2 billion won ($241.7 million) in fines, the record amount the commission issued on a single company, against Qualcomm.The commission said the U.S.-based wireless chipmaker abused its dominant position in the Korean market by demanding discriminatory royalties and giving condit
June 19, 2013
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McDonald’s to honor pledge of 500 outlets
McDonald’s Korea was confident about achieving its plans to reach 500 nationwide outlets and create 10,000 new jobs by 2015, despite a tougher regulatory environment for large franchises. “We are focused on the strategy of going from we are today to 500 (restaurants). Consumers are responding very well so we are confident in achieving the mission to get 500 restaurants,” Joe Erlinger, managing director of McDonald’s Korea, told The Korea Herald on Wednesday following a press conference. He adde
June 19, 2013
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KCCI calls for tax cuts on R&D, patents
The Korea Chamber of Commerce and Industry on Wednesday called for reform of government regulations to stimulate industry and help develop the “creative economy” being pushed by the Park Geun-hye government. The KCCI submitted a report to the government after selecting 100 grievances proposed by about 1,400 industrial organizations and the chamber’s 14,000 member companies nationwide between March and May this year. At the center of the proposals is the “Patent Box” ― a tax relief policy to sign
June 19, 2013
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POSCO named world’s most competitive steelmaker
POSCO, South Korea’s leading steelmaker, was named the most competitive steelmaker in the world this year for the fourth consecutive year, industry sources said Wednesday.In a recent assessment of 34 steelmakers around the world, global steel information service provider World Steel Dynamics has given the highest mark of 7.73 points out of 10 to POSCO in areas such as productivity, labor mastery and FINEX technology, according to the sources.The assessment was conducted on 23 categories, includi
June 19, 2013
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Minister Cho lauds SK for positive work environment
Minister of Gender Equality and Family Cho Yoon-sun visited the headquarters of SK Innovation in Jung-gu, Seoul, on Wednesday as part of her initiative to promote family-friendly working environments and also to repay a visit by the energy firm’s vice chairman and CEO Koo Ja-young.“A family-friendly work environment is important not only for corporations but also for the nation to maintain sustainable development and be prepared for the low birthrate and aging society,” the minister said. She br
June 19, 2013
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Hyundai-Kia ranks 5th in J.D. Power quality survey
Hyundai Motor Group said Wednesday that its Hyundai and Kia brand cars have won their best ratings in a recent initial quality study by the U.S. marketing firm J.D. Power and Associates.In the study, which serves as the auto industry’s benchmark for new-vehicle quality, the Korean auto giant was ranked fifth among 21 car brands studied, with three models becoming segment winners. Hyundai Motor’s Genesis took the top spot in the midsize luxury car category, while Kia Motors’ Seoul and Sportage R
June 19, 2013
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Qualcomm loses lawsuit against FTC
Qualcomm, the world’s leading designer and supplier of telecommunication chips, on Wednesday lost a lawsuit it had filed with Korea’s Fair Trade Commission. The U.S.-based chipmaker had previously requested the court to turn around an FTC order for issuing fines for its alleged antitrust activities. A higher Seoul court said it found Qualcomm to have interfered with fair trade practices by collecting differentiated royalty fees and offering different rates of discounts to partner firms by abusin
June 19, 2013
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Personal beauty consultants target young women
Personal beauty consultants, or “bangmun panmae eonnie” in Korean, are rushing to win over the younger generation of 20- and 30-somethings seeking to get the best deals in an era of social networks and mobile communication.Office worker Park Soo-min is a big fan of purchasing cosmetics from door-to-door salespeople. She has purchased more than 20 cosmetics products from her long-acquainted personal counselor. When the bottles run out, all she needs to do is send a message to her counselor on Kak
June 19, 2013