Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korea added to key bond index
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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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Will Apple quit smart ring race with Samsung?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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More deaths in ICU following doctors' mass walkout: lawmaker
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Apple fails to persuade U.S. federal judge on Samsung patents
Apple Inc. has failed to persuade a federal judge to rule that two of Samsung Electronics Co.’s patents are unenforceable, in what was the latest development in the patent litigation between the world’s top two electronics manufacturers.U.S. District Judge Lucy Koh in San Jose, California, said that she would not consider Apple’s arguments about the patents from Samsung because a jury has already ruled in favor of the California-based company, according to news reports on Friday. In August, a ju
Dec. 14, 2012
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Korail may join railway project linking N.K., Russia
The stalled railway talks among the two Koreas and Russia are expected to gain fresh momentum as Korail, the South’s state-run railway operator, is considering participating in the Russian government’s project to connect North Korea’s Rajin and Russia’s Khasan via train. Russian Railways has carried out the project with an aim to reconstruct an existing section of the railway, the Port of Rajin cargo terminal, with access to the Trans-Siberian Railway. According to Korail, its president Chung Ch
Dec. 13, 2012
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Tuna, tobacco and dried laver top farm exports
Sales of tuna, tobacco, dried laver and paprika were found to have led the country’s agricultural and fisheries exports this year, according to government figures.The Ministry of Food, Agriculture, Forestry and Fisheries said Thursday that between January and November this year, tuna was the most exported product, with overseas shipments soaring more than 60 percent in November, compared to January. The figure was expected to surpass $600 million by the end of this year. “It appears that a signi
Dec. 13, 2012
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Korean Air brings in Airbus A380 superjumbo
Korean Air Lines Co., South Korea’s top air carrier, said Thursday it has introduced an Airbus A380 passenger jet, raising its superjumbo fleet to six.The world’s biggest passenger plane arrived at Incheon International Airport, South Korea’s main gateway, located west of Seoul, on Tuesday. It is set to enter service on Saturday, Korean Air said, without elaborating on its first destination.Currently, the air carrier deploys A380s on long-haul routes to New York, Los Angeles and Paris as well as
Dec. 13, 2012
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SK Telecom forecasts LTE users to double next year
SK Telecom Co. on Thursday projected the number of its long-term evolution subscribers to grow two-fold next year on the back of solid demand for fourth-generation connectivity.LTE subscriptions are likely to reach 14 million in 2013, nearly doubling from the current 7 million level, the country’s top mobile carrier said in a press release.The projection comes amid a surge in LTE subscriptions. SK Telecom recently saw LTE subscriptions hit the 7-million mark, 17 months after it commercialized th
Dec. 13, 2012
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Mercedes-Benz Korea to build logistics center in Anseong
Mercedes-Benz Korea said Thursday that it will build a parts distribution center in Anseong, Gyeonggi Province, with operation expected to start in June 2014. The Korean unit of the German premium carmaker said it plans to invest a total of 52 billion won ($48 million) into the new facility that will be located on a 18,300-square-meter site in the city, about 77 kilometers south of Seoul. As the parts center is expected to handle some 35,000 car parts, the company said the time required for car
Dec. 13, 2012
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Samsung-LG fight escalates on patent infringement
The local patent fight between Samsung Display and LG Display is escalating after Samsung’s filing of a lawsuit against its rival was discovered earlier this week.LG Display said on Thursday that it will protest against Samsung’s move to file a suit against the firm on Dec. 7 for infringing on its liquid-crystal display patents.“LG Display has led the development of the In-Plane Switching technology display technology ever since the beginning, which is why we find it difficult to understand the
Dec. 13, 2012
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Korean Air brings in Airbus A380 superjumbo
Korean Air Lines Co., South Korea’s top air carrier, said Thursday it has introduced an Airbus A380 passenger jet, raising its superjumbo fleet to six.The world’s biggest passenger plane arrived at Incheon International Airport, South Korea’s main gateway, located west of Seoul, on Tuesday. It is set to enter service on Saturday, Korean Air said, without elaborating on its first destination.Currently, the air carrier deploys A380s on long-haul routes to New York, Los Angeles and Paris as well as
Dec. 13, 2012
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Liquidity crises push groups to sell core units
Unlike Samsung and Hyundai Motor, other major Korean business groups, pressed by the prolonged global economic downturn and falling domestic demand, are facing a stark winter. Some of them are even preparing to sell their core assets to improve liquidity. STX Group, the nation’s 17th-largest conglomerate by revenue, on Wednesday officially announced it will auction off STX PanOcean, the nation’s third-largest shipping and logistics company, and focus on its shipbuilding and plant business. STX P
Dec. 13, 2012
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Shipbuilders tilt toward offshore plants
The nation’s top three shipbuilders ― Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries ― are stepping up efforts to boost competitiveness in their offshore plant and engineering business, considering it a future growth engine. The three ship manufacturers have suffered from a lack of orders in their core shipbuilding business for the past few years, affected by the prolonged global economic downturn, especially in Europe. But global demand for offs
Dec. 13, 2012
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Advertising overdrive taints television
David Ogilvy, often cited as the 20th century’s most inspiring advertising guru, once said, “Advertising is only evil when it advertises evil things.”Ogilvy apparently was not thinking of other vices, such as constant, in-your-face advertisements that can be just as damaging as unethical ads. A week ago, on an episode of top-rated KBS weekend soap opera “My Daughter Seo-young,” Samsung’s Galaxy phones were exposed up to 10 times during the 50-minute program.Sang-woo, one of the main protagonists
Dec. 12, 2012
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Prudential Life Insurance honors CSR legacy
Heart-warming stories about Prudential Life Insurance Co.’s community service tradition trace back to 19th century America. Prudential’s history began with John Fairfield Dryden who created “The Prudential Friendly Society” in 1875 in order to help poorer people. The first U.S. company to make life insurance affordable to the working class, Prudential has supported people shunned by the old social security system ever since.For more active and systematic CSR activities, Prudential Life Insurance
Dec. 12, 2012
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Korean exporters see worse conditions in 2013: poll
Six out of 10 South Korean exporters expect their export conditions to worsen in 2013 due to a prolonged economic slump in advanced countries and the local currency’s ascent against the U.S. dollar, a poll showed Wednesday.The survey of 204 major exporters, taken by the Federation of Korean Industries last month, found that 57.2 percent of the respondents said the export situation will aggravate in 2013. Only 12.3 percent said the export situation would get better next year.The 204 companies exp
Dec. 12, 2012
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OB sees exports top $100m
The Korea International Trade Association awarded Oriental Brewery Co. for the company’s record-breaking export performance this year.OB’s yearly exports surpassed $100 million for the first time in history among beer producers in Korea.OB said it posted exports totaling $106.6 million per annum between July 2011 and June 2012. It sold about 15.7 million boxes, with 20 0.5-liter bottles, in the overseas market during the period.While the liquor industry calculates a fiscal year from July to June
Dec. 12, 2012
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Audi Korea aims to sell 16,000 cars in 2013
Audi Korea, which saw car sales almost double this year, aims to sell 16,000 vehicles next year, its recently-appointed managing director Johannes Thammer said at a press meeting on Tuesday. The new Korean chief of Audi said the carmaker launched 14 new models this year into the market, with its car sales increasing 43.6 percent to 14,046 units in the first 11 months from a year ago. He predicted a further 6 to 8 percent growth in sales next year, citing the market outlook that was recently anno
Dec. 12, 2012
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Samsung reorganized into three units
Samsung Electronics on Wednesday carried out a sweeping reorganization on Wednesday, splitting the tech giant into three individual business divisions: consumer electronics, IT and mobile, and device solutions.The world’s top smartphone maker had run the company under two different divisions: finished goods and device solutions. The finished products division included consumer electronics and home appliance units run by its head and president Yoon Boo-keun, and handset and IT device unit headed
Dec. 12, 2012
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SKC chief gets honorary Ph.D
SKC and SK Telesys chairman Choi Shin-won was conferred an honorary doctorate in business administration from Konkuk University on Wednesday. SKC said that Choi received the recognition for his contributions to raising brand-awareness of SK products and pioneering new major business sectors. Drawing no-imbroglio agreement between the company and its labor union also earned positive review in the business capability assessment from the university, SK Telesys said. In 2003, the chairman created a
Dec. 12, 2012
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FKCCI Gala
Dec. 12, 2012
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Conglomerates enter business hotel fray
As the number of foreign tourists visiting Korea this year surpassed 10 million, the hotel business has become a rising star in the slumping economy. Seoul has 26,000 hotel rooms, fewer than 100 other cities around the world, such as Bangkok with 94,000.Many Chinese tourists who were unable to find hotel rooms in downtown Seoul during peak seasons had to stay in hotels far away from the city center, including in the surrounding Gyeonggi Province.Eager to grab a bigger slice of the burgeoning dem
Dec. 11, 2012
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Used car exports enjoy brisk market
Korea’s used car exports have been booming recently, with this year’s figures expected to hit a record high, largely driven by the favorable exchange rate and renewed awareness of Korean carmakers globally. According to the Korea Used Car Export Association on Tuesday, Korea exported 244,665 second-hand cars in the first nine months of this year. That compares to total exports of 248,275 cars last year. Of them, 169,548, or 69.3 percent, were passenger vehicles, while trucks and vans made up 21.
Dec. 11, 2012