Most Popular
-
1
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
2
Korea added to key bond index
-
3
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
4
North Korea notifies UN Command of plans to fortify border with South
-
5
Taking away phones during school hours not a human rights violation: watchdog
-
6
Who is pollster roiling politics with claims of government string-pulling?
-
7
Will Apple quit smart ring race with Samsung?
-
8
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
9
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
10
More deaths in ICU following doctors' mass walkout: lawmaker
-
Settlement not in sight in Samsung-Apple patent fight
The patent litigation still looks to be far from reaching a settlement as Apple Inc. appealed a previous ruling by a U.S. federal judge to call off a sales ban on 26 Samsung Electronics’ products.Apple on Thursday decided to appeal a U.S. judge’s Dec. 17 ruling to reject its request for a sales ban on more than two dozen electronics devices manufactured by Samsung. Those gadgets include the Galaxy S2, Galaxy S2 Epic and Galaxy S2 Skyrocket.U.S. District Judge Lucy Koh has stated that “it wasn’t
Dec. 21, 2012
-
STX Group sells stake in European unit
STX Group, a South Korean shipping and shipbuilding conglomerate, said Friday that it has signed a deal to sell its stake in its European shipbuilding unit to an Italian firm as part of efforts to ease the group’s credit crunchUnder the deal with Fincantieri Oil & Gas SpA, STX Europe AS, the group’s local unit, sold its 50.75 percent stake, or 599.85 million shares, in STX OSV Holdings Ltd. at 1.22 Singapore dollars per share, said the company. STX OSV started trading its shares on the Singapore
Dec. 21, 2012
-
Samsung Engineering wins $1.5b Saudi Arabia order
Samsung Engineering Co., South Korea’s largest industrial plant builder, said Thursday that it has secured a $1.5 billion order to build a power plant in Saudi Arabia.Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the South Korean company will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah by December 2016.The power plant will supply electricity to the Yanbu Industrial complex, Samsung said.“This order represents Sa
Dec. 20, 2012
-
U.S. imposes heavy duties on Korean washers
WASHINGTON (Yonhap News) ― The U.S. Commerce Department announced Wednesday that it has reached a final decision to slap heavy anti-dumping duties on South Korean-made washing machines.In a ruling described by the American firm Whirlpool Corp., the department determined that LG, Samsung and Daewoo have sold large washers in the U.S. at “dumping margins of 9.29 percent to 82.41 percent.”The anti-dumping duties for the two leading South Korean makers of electronics products ― LG and Samsung ― were
Dec. 20, 2012
-
LG to take part in U.S. project for smart grid
LG Electronics said Thursday it agreed to take part in a smart grid project with U.S.-based Pecan Street Inc. in Austin, Texas.The firm will participate in the project as a member of the industry advisory council and will provide expertise in the research of smart homes, energy management and consumer electronics until 2015.LG’s primary focus will be on the development of effective home energy management systems, according to its officials.The company will install its advanced air conditioners,
Dec. 20, 2012
-
Public projects may face review under Park
Park Geun-hye’s election to president is expected to see changes in key projects that have been pushed under the Lee Myung-bak administration. During her campaign, Park tried to distance herself as far as possible from the unpopular incumbent president. Industry watchers predict major revisions to controversial projects, while some policies could be maintained in line with the ruling Saenuri Party’s political direction. The Four River Restoration project, arguably President Lee’s most controvers
Dec. 20, 2012
-
Samsung set to see record profit in Q4: analysts
Samsung Electronics is expected to reach a new record high in its fourth-quarter earnings with the arrival of the industry’s seasonal peak during the year-end holiday season.Local analysts are projecting that the global IT behemoth’s sales and profit figures will further hit the firm’s highest ― up as high as 55.65 trillion won ($50 billion) and 8.83 trillion won, respectively ― from October to December.Samsung has been renewing its profit figure quarter after quarter with the firm logging a rec
Dec. 20, 2012
-
S. Korean corporate failures hit 8-month low in Nov.
The number of South Korean corporate bankruptcies fell to the lowest level in eight months last month amid the protracted downturn, the central bank said Thursday. The number of firms that went belly-up totaled 93 last month, compared with 116 in October, according to the Bank of Korea (BOK).It is the lowest since 90 firms recorded in March. The on-month drop in corporate bankruptcies is largely attributable to the economic situation not becoming any worse amid continued government efforts to bo
Dec. 20, 2012
-
U.S. imposes heavy duties on Korean washers
The U.S. Commerce Department announced Wednesday that it has reached a final decision to slap heavy anti-dumping duties on South Korean-made washing machines.In a ruling described by the American firm Whirlpool Corp., the department determined that LG, Samsung and Daewoo have sold large washers in the U.S. at "dumping margins of 9.29 percent to 82.41 percent."The anti-dumping duties for the two leading South Korean makers of electronics products -- LG and Samsung -- were set at 13.02 percent and
Dec. 20, 2012
-
Samsung’s retreat in Europe signals strategic turnaround
Samsung Electronics has dropped its request for a ban on the sale of a number of Apple’s smartphones and tablet computers in Europe, signaling it may be gearing toward a new strategy in the high-profile patent war with the iPhone maker. Samsung spokespeople said on Tuesday that the company has abandoned the request to “compete with actual products, and not with litigation.” Samsung also said it has acted “in the interest of protecting consumer choice.” The move came a day after a U.S. federal ju
Dec. 19, 2012
-
Samsung overtakes Nokia as top handset maker
Samsung Electronics overtook Nokia as the top mobile phone brand this year and took the lead over Apple in smartphones, a U.S. research firm said Tuesday. According to IHS iSuppli, the Korean electronics giant made 29 percent of global cell-phone shipments this year, up from 24 percent in 2011. Finland-based Nokia, however, saw its market share fall to 24 percent from 30 percent over the past year, ending its 14-year reign on top. In the meantime, Apple’s share slightly increased from 19 percent
Dec. 19, 2012
-
Hyundai Hmall slapped with W54.2b tax fine
Home shopping company Hyundai Hmall said on Tuesday that it was slapped with a tax penalty from the National Tax Service for underpayment of sales tax. The fine is worth about 54.2 billion won ($50.5 million), which accounts for about 6.5 percent of the company’s 832.4 billion won in capital. The state-run tax agency imposed the penalty on the company for not following its sales commission tax policy, having paid less tax than other major home shopping firms for the last five years.Hyundai Hmall
Dec. 19, 2012
-
SK scheduled for restructuring next year
SK Group, the nation’s No. 3 conglomerate, is expected to restructure its affiliates in 2013 following a change of leadership earlier this week. Issuing a gloomy outlook of the country’s economy for next year, local analysts predicted that SK may go through a reorganizing of its affiliates that have overlapping business projects. The reported merger of SK Planet and SK Marketing & Company signaled the first step of the conglomerate streamlining its subsidiaries.The two companies are expected to
Dec. 19, 2012
-
Samsung is top 2012 phone brand, ousting Nokia
Samsung has overtaken Nokia as the top mobile phone brand for 2012 and has opened up a decisive lead over Apple in the smartphone market, a research firm said Tuesday.This will mark the first time in 14 years that Finnish-based Nokia will not sit atop the global mobile phone business on an annual basis, according to IHS iSuppli.Samsung is expected to account for 29 percent of worldwide cellphone shipments, up from 24 percent in 2011, according to the IHS, which said Nokia's share dropped to 24 p
Dec. 19, 2012
-
S. Korea halts Brazil beef imports over mad cow
South Korea has suspended its imports of Brazilian beef, becoming the sixth country to do so over a two-year-old case of mad cow disease, authorities said here Tuesday.South Korea joined China, Japan, South Africa, Egypt and Saudi Arabia in halting Brazilian imports in connection with an atypical case of bovine spongiform encephalopathy (BSE) that was detected in an animal that died in 2010 in the southern state of Parana, the agriculture ministry said.The six countries take in only 3.8 percent
Dec. 19, 2012
-
Apple’s case vs. Samsung snubbed by U.S. court
Apple Inc.’s request for a U.S. sales ban on more than two dozen devices manufactured by Samsung Electronics was rejected by a federal judge, reports from the U.S. said on Tuesday.According to U.S. district judge Lucy Koh, the iPhone maker failed to establish that consumer demand for Samsung products was driven by technology that Samsung stole from Apple.In her ruling, Koh said that “it wasn’t in the public interest to bar Samsung devices because the infringing elements constituted a limited par
Dec. 18, 2012
-
[Newsmaker] Sighs among the cheers in Sejong City
The Finance Ministry on Tuesday took down its signboard to signal its move to Sejong City. The relocation has been anticipated for the past year, but to ministry employees, it was a moment to remember.“The era spent at Gwacheon was one of passion and devotion, and we are overcome with emotions as we prepare to let go of this era,” said a nostalgic Finance Minister Bahk Jae-wan, who will be the last minister to have experienced the Finance Ministry in Gwacheon City.It will take over 300 5-ton tru
Dec. 18, 2012
-
Korean unit to develop midsize sedan for Renault
Renault Samsung Motors may develop a midsize model for Renault Group, aiming for an early 2015 launch, a local news daily reported Tuesday. But the carmaker immediately said “nothing has yet been decided.”Under the “Renault Samsung mid-term plan,” which was cited by the Chosun Ilbo, the Korean unit of the France-based Renault will be responsible exclusively for developing the upper body of the new version of its flagship SM5 sedan. If realized, it would be the first time for Renault Samsung, whi
Dec. 18, 2012
-
MS, PC room owners in licensing dispute
Conflict between Microsoft Korea and the owners of PC rooms nationwide continued to escalate on Tuesday as both sides argued over the illegal use of the latest Windows 8 software.Microsoft claims that at least 700 PC room operators, which are also known as “PC bang” in Korea, are using its recently released operating system without paying the necessary fees.However, an association of PC room owners called the Korea Internet Cultural Contents Service Association rejected the charge claiming that
Dec. 18, 2012
-
Grandsons coming to the fore at chaebol
The third generation is coming under a growing spotlight in the family-owned conglomerate sector as heirs apparent of the incumbent chairmen and grandsons of the late chaebol founders.The second generation business leaders such as Samsung Electronics chairman Lee Kun-hee and Hyundai Motor chairman Chung Mong-koo have successfully carried out power transitions to their sons over the past few years.Chung Yong-jin, a son of Samsung founder Lee Byung-chull’s daughter, opened the third-generation era
Dec. 18, 2012