Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Korea added to key bond index
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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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North Korea notifies UN Command of plans to fortify border with South
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Taking away phones during school hours not a human rights violation: watchdog
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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Samsung trails Apple in Q4 smartphone sales: data
Samsung Electronics Co., the world's top smartphone maker, saw its fourth-quarter smartphone sales lag behind rival Apple Inc. due to robust demand for the U.S. firm's iPhone 5, data showed Monday.Samsung Electronics claimed 28.7 percent of the global smartphone market in the three-month period in terms of revenue, following Apple's 42.7 percent, according to the data by market researcher Strategy Analytics.The change in ranking was largely attributed to robust demand for Apple's iPhone 5, its f
March 11, 2013
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[Graphic News] Corporate CEOs top paycheck rankings
Corporate top guns touted the largest paychecks in the country, according to figures from the Korea Federation of Savings Banks on Saturday.CEOs’ annual salaries averaged 109 million won, followed by lawmakers, who were paid an average 106 million won. They were followed by maritime pilots whose annual paychecks were around 105 million won. Maritime pilots have the job of guiding ships safely to shore. Among doctors, plastic surgeons appeared to have the highest-paying jobs, with an annual salar
March 10, 2013
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Koreans spend big on overseas studies
South Koreans have spent an annual average of more than $4 billion on overseas study since 2006, far exceeding the amount of money foreigners spend on education programs here, central bank data showed Sunday.According to the data by the Bank of Korea, South Koreans’ spending on overseas education programs came to $4.36 billion last year, a slight decrease from $4.39 billion a year earlier.Remittances for overseas study had hovered around the $4 billion mark since 2006, except 2009 when the amoun
March 10, 2013
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Foreign firms bid to open casino in S. Korea
Several foreign companies are seeking to build casino facilities in South Korea’s economic free zones following eased regulations on investment, industry sources said Sunday.U.S.-based firm Caesars Entertainment Corporation and Lippo Group, an Indonesian company, applied for preliminary review by the Ministry of Culture, Sports and Tourism in January for a joint casino in Yeongjongdo, home to Incheon International Airport, sources said.Universal Entertainment Corporation, a Japanese casino firm,
March 10, 2013
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Samsung tops China’s smartphone market in 2012
South Korean tech giant Samsung Electronics Co. claimed the top spot in the Chinese smartphone market for the first time in 2012 by nearly tripling its sales in the world’s largest market, industry data showed Sunday.Samsung Electronics sold 30.06 million smartphones in China last year, up from 10.90 million units a year earlier, garnering a 17.7 percent market share, according to the data by market researcher Strategy Analytics.Last year’s market share represents a 5.3 percentage point increase
March 10, 2013
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CJ Cheiljedang eyes 1tril. won in feed sales
CJ Cheiljedang Corp., South Korea’s largest food company, said Sunday it is targeting to post 1 trillion won (US$920 million) in animal feed sales this year by establishing more overseas production facilities.To achieve the sales goal, CJ Cheiljedang said it will build six production plants in China, Vietnam and Indonesia, where demand for animal feed has been experiencing explosive growth.The completion of the envisioned facilities would raise the number of the company’s overseas feed factories
March 10, 2013
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Naro launch boosted by IT edge
GOHEUNG, Naro Space Center ― The KSLV-1, more affectionately known as the “Naro” rocket, may be only half Korean rocket science, but in terms of devotion, it’s 100 percent ours.At the same, the IT technology that perfected the rocket is also completely home-grown.On Saturday, the Korea Aerospace Research Institute, unveiled the launch control center to the press ― where all the IT-related data is gathered to make informed decisions on the Naro launch.Here, more than 180 types of different data a
March 10, 2013
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IAEA projects renaissance of nuclear energy
VIENNA, Austria ― The International Atomic Energy Agency, the world’s nuclear watchdog under the United Nations wing, projected the world’s nuclear energy generating capacity to see steady and continued growth, recovering from the dent made by the Fukushima nuclear accident on March 11 in 2011. Nuclear energy, which enjoyed a renaissance as a low-carbon energy source, has recently fallen into a slump, challenged by safety concerns after the Fukushima accident, the world’s worst nuclear disaster
March 10, 2013
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U.S. body in hot seat over Samsung vs. Apple
The U.S. International Trade Commission is stuck between a rock and a hard place over the patent infringement cases filed by Samsung Electronics and Apple Inc. against each other.While it would most likely run into difficulty banning products of the Cupertino-based company on its home turf, it may also be afraid of “protectionism” claims if it chooses to block U.S. imports of Samsung, which is the world’s biggest smartphone and TV maker by shipments.The U.S. trade agency announced Thursday, loca
March 10, 2013
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Seoul City declares war on big stores with sales ban plan
Seoul City has declared another war against major retailers by planning to limit the sales of 51 items including fresh foods at large discount stores and supermarket chains. Although the measure is not legally binding yet, Seoul City’s recommendation to large discount stores and supermarket chains to restrict sales of those items would deal a blow to their revenues should it become a law. The main objective is to lure people to conventional or traditional markets. The city government plans to pr
March 10, 2013
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Flights from NY airport fueled by cooking oil
A Dutch airliner is flying from New York to Amsterdam on a fuel mix that includes leftover oil from frying Louisiana‘s Cajun food.The KLM flights from Kennedy Airport are powered by a combination of 25 percent recycled cooking oil and 75 percent jet fuel.After the first such flight Friday, the concept will be tested on 24 round-trip trans-Atlantic trips every Thursday for the next six months.KLM executive Camiel Eurlings jokingly told the New York Post that “it smelled like fries” while the pla
March 10, 2013
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Samsung tops China‘s smartphone market in 2012
Electronics Co. claimed the top spot in the Chinese smartphone market for the first time in 2012 by nearly tripling its sales in the world’s largest market, industry data showed Sunday. Samsung Electronics sold 30.06 million smartphones in China last year, up from 10.90 million units a year earlier, garnering a 17.7 percent market share, according to the data by market researcher Strategy Analytics.Last year‘s market share represents a 5.3 percentage point increase from the previous year. It als
March 10, 2013
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Park gets third term as head of Korea-China Friendship Association
Kumho Asiana Group chairman Park Sam-koo will lead the Korea-China Friendship Association for a third term, the business group said in a statement Friday.During a periodical gathering of KCFA in downtown Seoul on Saturday, Park’s four-year term as chief of the association for promotion of bilateral relations was extended until 2016, the group said.After being initially recommended to the post in 2005, the Kumho chairman has led the association for another four years from 2009 to 2012.The associa
March 8, 2013
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Korea strong-arms retailers in war against inflation
The government summoned executives from three major discount franchises on Thursday to discuss how to improve the distribution system and stabilize prices of manufactured goods.Executives of E-mart, Homeplus and Lotte Mart met with officials at the Ministry of Knowledge Economy at a time when the public is voicing concerns over rising gasoline prices and public utility fees.“We asked the retailers about the factors affecting the pricing of manufactured goods such as the distribution system and p
March 7, 2013
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CJ taps former airport chief as vice chairman
CJ Korea Express said on Thursday it tapped Lee Chae-wook, 67, former chief executive of Incheon International Airport Corp., as vice chairman of the entity born through a merger with CJ GLS. The logistics company made the decision with less than a month left to finalize the deal between the two firms scheduled for April 1. The choice came as a surprise, as many had predicted the CEO of CJ Corp. for the job. Lee started his career at Samsung Corp., moving on to head GE’s medical service operatio
March 7, 2013
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GM Korea to offer new cars after accidents
GM Korea CEO Sergio Rocha unveiled a surprise sales program in which the automaker will offer customers new cars if they get into a car accident within three years of their purchase.His pledge came during his remarks at a media conference to celebrate the second anniversary of the introduction of the Chevrolet brand.While GM Korea has pushed the releases of new lineups over the past few years, the CEO’s commitment means that the company will prioritize customer services. If the customer is less
March 7, 2013
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Samsung, Sharp tie-up ‘win-win’: analysts
Samsung Electronics’ surprise decision to invest in Japanese rival Sharp will provide a win-win opportunity to both companies, analysts and industry experts said Thursday.“Samsung and Sharp have long been rivals, but Sharp has apparently determined that forming an alliance with its rival in flat-screen TVs and mobile phone handsets is required to improve its performance and financial standing,” said David Hsieh of industry market research firm NPD DisplaySearch.Samsung announced on Wednesday tha
March 7, 2013
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Korean-Indonesian firm signs highway contract
Vogo Kora, a joint Korean-Indonesian company, has signed a project management contract on the construction of a highway in Sumatra, Indonesia.Its key officials, including Setia Budhy Algamar, senior advisor to the public works minister, visited Korea late last month to sign the contract and to tour Korea’s key public organizations, company officials said.The $13.3 billion contract involves the construction of a four-lane, 2,727-kilometer-long highway in the Aceh district.Together with the Korea
March 7, 2013
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Korean Air takeover of Czech Airlines to boost global ranking
Korean Air’s potential acquisition of a stake in Czech Airlines appears to be a bigger deal than expected.The 44 percent stake in the European airliner would catapult the local airliner to become the world’s 21st largest, industry data showed Thursday. The Korean flag carrier this week placed a bid to buy the shares in Czech Airlines, but without seeking managerial control of the European airliner. Korean Air and Czech Airlines ― both part of the Sky Team global alliance ― claimed 0.6 percent an
March 7, 2013
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Austrian parts maker Geislinger to open $10m plant in Busan
Geislinger, an Austrian top-tier supplier of engine parts, is to open its first manufacturing plant in Busan to facilitate supplies to local shipbuilders.The factory, located in the Mieum Industrial District, will begin operation next Monday and start producing couplings and dampers, according to officials.“The new plant is part of our localization strategy for top clients in Korea, so that they may save logistics and supplementary costs,” said company spokesperson Lee Mi-gyeong.Major clients fo
March 7, 2013