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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Hyundai names foreigner CEO
Peter Schreyer, vice president and chief design officer of Kia Motors, was promoted to president of the automaker, Hyundai Motor Group said Friday.This is the first time that Hyundai Motor Group has appointed a foreigner as president of one of its business units.Schreyer has been hailed as one of the top car designers with his contribution to the K series of Kia Motors. His K series has been praised as having created a signature automobile design for the nation’s second-largest carmaker.Beginnin
Dec. 28, 2012
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Diesel models reach 50% of import car sales
Fuel efficient vehicles with a diesel engine are projected to account for the majority of the total sales of 25 import brands this year.Diesel-powered import models are posting 50.8 percent, or about 61,000 units of foreign brands’ collective vehicle sales so far this year, while the ratio stood at 35.2 percent in 2011 and 25.4 percent in 2010.According to the Korea Automobile Importers & Distributors Association, the number of imported diesel car registrations continued to surge ― 36,931 units
Dec. 28, 2012
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Business leaders urge vigilance against uncertainties in 2013
December is the month when the nation’s top conglomerates customarily unveil their management visions for the new year. This year, the companies were given a double burden of preparing for the heightened uncertainties of the global economy, while also preparing for the incoming government of Park Geun-hye. Samsung Group on Thursday held an annual year-end seminar, with some 30 chief executives in attendance, including Choi Gee-sung, the head of corporate strategy office to discuss such plans. Wh
Dec. 27, 2012
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LGD files another petition against Samsung Display
LG Display said Thursday that it filed a lawsuit against Samsung Display for infringing on its liquid-crystal display patent for the Galaxy Tab 10.1.LG asked the Seoul Central District Court to order Samsung to immediately stop producing and selling the firm’s 10.1-inch tablet PC. It also requested that Samsung must pay 1 billion won every day if it choose not to follow its demand.The filing of the suit comes as LG claims that the display technology used for the building of the Galaxy Tab 10.1 i
Dec. 27, 2012
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Experts call for setting up of ICT ministry
A group of scholars Thursday urged that the new administration should establish a government branch that exclusively deals with issues related to the Information and Communications Technology sector.In a press conference, a group of 25 different academic organizations involved in ICT said a government ministry that takes full charge of content, platforms, and broadcast and telecom should be set up at the earliest date.“President-elect Park Geun-hye must revive the sectors of information, broadca
Dec. 27, 2012
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Korean traditional alcoholic beverages go global
More and more foreign buyers are focusing on Korean traditional alcoholic beverages as Makgeolli, a rice-based alcohol product, has been gaining growing popularity in the overseas market.Amid the movement to revitalize the traditional alcoholic beverage market, more than 240 brands nationwide participated in the Korean Traditional Beverage Fair last October.The annual contest is aimed at elevating the quality of Korean alcoholic beverages by promoting taste competitions of representative brands
Dec. 27, 2012
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Kwang Dong raises price of Korea’s top mineral water brand
Kwang Dong Pharmaceutical Co. raised the price of Jeju Samdasoo, right after the company took over the sales rights for Korea’s leading mineral water brand from its previous owner Nongshim.Retail industry sources said on Thursday that Kwang Dong, the new nationwide distributor of Jeju Samdasoo, verbally announced it hiked the prices of 500-millileter and 2-liter products by 10 won and 15 won, respectively.The move is expected to prompt other mineral water makers to follow suit. Kwang Dong argued
Dec. 27, 2012
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S. Korean manufacturers' biz sentiment for Jan. rebounds
South Korean manufacturers' business confidence for January rebounded from a 44-month low tallied in the previous month as some economic data showed improved performances, the central bank said Thursday.The index of manufacturers' outlook on business conditions came in at 70 for January, up from 67 tallied for December, according to a monthly survey by the Bank of Korea (BOK). The index measures manufacturers' expectations for the coming month.A reading below the benchmark 100 means pessimists o
Dec. 27, 2012
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[Newsmaker] Korail accused of overstating KTX safety
Local passengers raised their eyebrows when the state-run railway operator Korail claimed the safety and on-time operation of its trains as global No. 1 in a report submitted for evaluation in June. At the time, Korail was suffering from public condemnation after a series of frequent breakdowns and delayed schedules of the nation’s KTX bullet trains.Korail explained that it had cited official data from the International Union of Railways, or UIC, and then the agency was designated as one of the
Dec. 26, 2012
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DSME wins $1.56 billion submarine order
Daewoo Shipbuilding & Marine Engineering won a $1.56 billion order to build two 3,000-ton KSS-III submarines from the nation’s Defense Acquisition Program Administration.The submarines will be built based on DSME’s own technology and be delivered to the Korean Navy by the end of 2022, the company said in a statement. DSME started building submarines in 1987 through technology transferred from Germany and has strengthened its market leadership, with a total production of 17 submarines. Three of t
Dec. 26, 2012
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Tobacco exports surge 3.7-fold in decade
Korea’s tobacco exports have increased by 370 percent over the past 10 years while imports remained steady, resulting in a tobacco trade surplus since 2004.In 2002, the country’s tobacco imports amounted to more than double its exports. Last year, exports rose to 1.7 times the imports, data from the Korea Customs Service showed.“Much of the domestic demand for imported manufactured tobacco appears to have been replaced by demand for Korean-made products as their quality improved,” said a KCS off
Dec. 26, 2012
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Korean liquors charm foreign consumers
Diluted soju, a cheap alcohol product, has been taking up a great portion of the nation’s liquor market over the past few decades.As Jinro and Lotte actively made inroads into the overseas market, more and more foreign drinkers could easily access the diluted soju along with makgeolli, a rice-based Korean drink.While soju ― cheap through mass production ― has been playing the role of “placating ordinary citizens,” the Korean Traditional Alcoholic Beverage Development Association expressed worrie
Dec. 26, 2012
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Large firms suffer from increased intellectual property violations in 2011
Violations of intellectual property rights held by South Korea‘s large conglomerates grew in 2011 though the overall number of intellectual property violations dropped from a year earlier, a report showed Wednesday.The portion of large companies whose intellectual property rights were infringed upon grew from 3.2 percent in 2010 to 5.3 percent last year, according to the report released by the Ministry of Knowledge Economy.The portion for all companies and institutes with intellectual properties
Dec. 26, 2012
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Debit card issuance tops 100 mln this year
The number of debit cards issued in South Korea surpassed 100 million in the first 11 months of the year as a growing number of consumers used them because they offer more tax benefits than credit cards, industry sources said Wednesday.The number of debit cards issued in the January-November period reached 100.2 million, up 1.46 percent from 98.7 million for all of last year, according to the sources.The increase was attributed to greater tax incentives provided by debit cards. The income tax de
Dec. 26, 2012
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Telecoms unveil new tool to fight Kakao Talk
The country’s three mobile carriers will team up and introduce a new communications service named “joyn” on Wednesday to compete with top mobile messenger Kakao Talk.SK Telecom, KT and LG Uplus all announced Tuesday that they will release the Rich Communication Suite, which allows people to use a number of communication services ― such as Rich Call, Rich Messaging and Rich Phonebook ― in an integrated manner.Users who have downloaded the joyn service will be able to send messages up to 5,000 cha
Dec. 25, 2012
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Smartphone hotel check-in service debuts
A 30-year-old Korean woman checked in at a hotel in downtown Seoul, but did not receive a room key. Instead, she got a hotel-owned smartphone for her reserved room.The woman, whose family name is Lee, used the smartphone to unlock the door and control the indoor temperature as well as the lights and television.Lee was also able to call maintenance to make up the room or ask them not to disturb her by simply activating a mobile application and touching the screen, without having to make a call or
Dec. 25, 2012
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Daewoo Shipbuilding wins 1.9tr won order
Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Tuesday that it has obtained a 1.9 trillion won ($1.8 billion) order to manufacture a fixed platform from Statoil ASA of Norway. Under the deal, Daewoo Shipbuilding will complete the fixed platform, a type of offshore platform used for the production of oil or gas, by the end of 2016, the South Korean shipbuilder said. The 31,000-ton fixed platform, which will produce 80,000 barrels of crude a day, will be installed o
Dec. 25, 2012
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Hyundai-Kia’s hybrid sales surpass 100,000 units
Hyundai Motor Group has seen its accumulated sales of eco-friendly hybrid cars surpass the 100,000 mark recently, a milestone that comes just three years after their launch. According to industry sources on Tuesday, Hyundai Motor and its affiliate Kia Motors sold 106,450 hybrid vehicles both in the domestic and foreign markets as of November since July 2009. This year alone, their hybrid car sales reached 56,203 units, a 69.1 percent jump from the same period last year. The two carmakers have in
Dec. 25, 2012
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Park backs voluntary shared growth push
Following is the fifth in a series of articles on President-elect Park Geun-hye’s key policies. ― Ed. Political parties, regardless of their political inclination, have called for better protection of neighborhood mom-and-pop shops, namely those who are struggling to compete against franchise stores owned by large conglomerates. After numerous failed attempts by past and present governments, President-elect Park Geun-hye has also come up with diverse measures to support small businesses. In a se
Dec. 25, 2012
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Zodiac sign of the snake spells good luck for execs
Ancient oriental wisdom says having a snake in the house is a good omen because it means the family will never starve. The snake in this case indicates individuals born under the zodiac sign of the “snake,” and if the saying is anything to go by, it looks as though there are some snake-borns who most definitely won’t be starving anytime soon. Analyses of the local stock markets showed that there were some 456 billionaires in Korea who were born under the sign of the snake, according to Chaebul.c
Dec. 25, 2012