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
-
Samsung’s market capitalization gaining as Apple shares flag
The market value of Samsung Electronics’ listed stocks was worth $201.5 billion as of last week, which was about 40 percent of the value of Apple Inc.’s listed shares. These figures reflected a 13 percentage point increase compared to the end of August this year, according to KB Investment and Securities. At the same time, Apple’s worth was undermined, with its market capitalization now 2.5 times that of Samsung, down from when the iPhone maker’s stocks were worth four times the South Korean com
Dec. 11, 2012
-
E-Mart to open 1st Vietnamese store next year
E-Mart Co., South Korea’s biggest discount chain operator, said Tuesday that it will open its first Vietnamese store next year and expand the total number of stores in the country to 14 by 2017.To that end, E-Mart has formed a strategic tie-up with Vietnam’s 7th largest conglomerate U&I Group and signed a preliminary deal with Savills Vietnam Co., a unit of British real estate agency Savills, for bilateral cooperation, the South Korean company said. “Our foray into the Vietnamese retail market i
Dec. 11, 2012
-
Year end: The holidays vs. business as usual
Merry-making is in order for December, the season of Christmas, Hanukkah and other glad tidings. But Cho Song-yeon, a 32-year-old employee in the manufacturing industry, won’t be doing anything special because she’ll be working on Christmas Eve. A handful of local companies, including a couple of Samsung affiliates, will be giving employees a day off before Christmas, but at the majority of Korean firms, it will be business as usual right up until Lunar New Year’s in February.“It didn’t even occ
Dec. 11, 2012
-
[Newsmaker] Samsung Electronics stock on record rise
Shares of top smartphone maker Samsung Electronics are getting ready to break the 1.5 million won mark as the Korean IT behemoth is gaining an edge in its ongoing global patent battle against Apple Inc.Samsung’s stocks were being traded at over 1.5 million won ($1,389) per share, up 1.62 percent from Friday, shortly after the market opening at 9:01 a.m. on Monday. The share price is setting a new record following foreign investors’ aggressive move to purchase the firm’s shares.Samsung Electronic
Dec. 10, 2012
-
Samsung Engineering-led group wins $3b order
A consortium led by Samsung Engineering Co. has secured an order worth $3 billion to build a power plant in Saudi Arabia, South Korea’s largest industrial plant builder said Monday.Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the consortium will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah, in 48 months after it begins work.Samsung’s share in the project is valued at around $1.5 billion, according to the company
Dec. 10, 2012
-
Producer prices dip by most in 3 years in Nov.
South Korea’s producer prices fell by the most in three years in November due to a fall in oil prices and the local currency’s ascent to the dollar, the central bank said Monday.The producer price index, a barometer of future consumer inflation, inched down 0.2 percent in November from a year earlier, compared with a 0.2 percent on-year gain in October, according to the Bank of Korea. The November figure marked the worst performance since November 2009 when the index fell 0.4 percent on-year.Com
Dec. 10, 2012
-
Hyundai chief urges readiness for market slowdown next year
Hyundai Motor Group chairman Chung Mong-koo on Monday urged overseas operational chiefs to brace for a slowdown in the car market next year. Chung was briefed at a meeting with some 70 heads of global operations of Hyundai Motor and Kia Motors on this year’s sales performance and key issues across regions. He is said to have thanked them for supporting the Korean auto giant to achieve this year’s sales goal despite difficult economic conditions in key markets such as Europe and the U.S. Though t
Dec. 10, 2012
-
CJ to shun expansion of its bakery chain for ‘fair economy’
CJ Foodville, the franchise business unit of local food giant CJ Group, announced Monday it would limit the number of its Tous les Jours chain bakeries to meet people’s demands for shared growth with smaller bakeries. The decision ― the first of its kind ― by the nation’s No. 2 bakery chain came amid intensifying disputes between bakery chain stores owned by conglomerates and mom-and-pop shops in the same neighborhood. Conglomerates’ bakery chains, armed with price competitiveness based on mass
Dec. 10, 2012
-
Samsung, Hyundai dominate 2012 earnings
The earnings gaps between the nation’s top two conglomerates ― Samsung and Hyundai Motor ― and other major business groups are widening, data showed on Monday.Samsung Group and Hyundai Motor Group are expected to take up about 70 percent of earnings reaped by the nation’s 10 largest conglomerates this year, according to chaebul.com, a conglomerate-tracking website.In terms of operating profit, Samsung Group accounted for 46.2 percent (17.5 trillion won) of the collective 37.9 trillion won by the
Dec. 10, 2012
-
MAN Truck head elected as new head of ECCK
The European Chamber of Commerce in Korea has elected Thilo Halter, chief executive of MAN Truck & Bus Korea, as its new chairman. Halter will be flanked by a pair of co-vice chairmen that include BMW Korea’s chief finance officer and vice president Hans-Christian Baertels. Formerly the EU Chamber of Commerce, the organization underwent a complete overhaul in September to register as a nonprofit organization with the Ministry of Knowledge and Economy. Halter, as the new chairman, has pledged to
Dec. 10, 2012
-
Korea's trade volume tops $1 tln for 2nd year
Korea's exports and imports exceeded $1 trillion on Monday, breaching the $1-trillion mark for the second consecutive year, the government said."The trade volume came to over $1 trillion as of 11:06 this morning," Kwon Pyung-oh, a spokesman for the Ministry of Knowledge Economy, told reporters.Exports have so far amounted to $512.8 billion with imports coming to about $487.2 billion as of Monday, according to the ministry.The country's trade volume topped $1 trillion for the first time in its hi
Dec. 10, 2012
-
Korean firms fined W3.3tr for cartels
Korean enterprises have paid more than 3 trillion won ($2.8 billion won) in antitrust fines in foreign markets over the past 16 years.According to the Fair Trade Commission, foreign antitrust regulators have imposed on Korean businesses, such as LG Electronics and Samsung SDI, fines totaling 3.31 trillion won for fixing product prices through methods such as cartel practices.The violation of the competition law was the most serious in the United States in terms of fines. The U.S. regulator has f
Dec. 9, 2012
-
Korea attracts $160m investment from U.S.
Korea attracted investment totaling about $160 million (172 billion won) from enterprise in the United States through the government-led investor relations session, the Ministry of Knowledge Economy said Sunday.The successful IR performance was attained during a forum in Washington, D.C., which is designed to promote “bilateral investment,” over the weekend.“Their investment in Korea includes a U.S. firm’s promise to advance in the real estate development project in Gimhae, South Gyeongsang Prov
Dec. 9, 2012
-
S. Korea, U.S. to boost cooperation on shale gas
South Korea and the United States have agreed to step up cooperation on shale gas, an increasingly popular source of energy, a visiting top Seoul official said Friday."In a meeting with U.S. Secretary of Energy Steven Chu yesterday, I had a lot of discussions on cooperation in the shale gas sector," South Korean Knowledge Economy Minister Hong Suk-woo told reporters. His ministry handles trade, energy and industry affairs. He is on a trip here for the U.S.-Korea Investment and Trade Cooperation
Dec. 8, 2012
-
Korean consortium to build solar farm in Japan
A consortium comprising four South Korean firms said Friday that it has signed a preliminary deal to build a solar farm in Japan.Under the deal, STX Solar Energy Co. and the Korea South-East Power Co., a unit of the state-run Korea Electric Power Corp., and two other South Korean firms will construct and operate the solar farm in Sendai with a capacity of 45MW, according to the consortium.Sendai in northeastern Japan is one of the areas that was hit hard by the unprecedented quake in March 2011.
Dec. 7, 2012
-
Hyundai’s Santa Fe named ‘safest car of the year’
Hyundai Motor said Friday that its flagship sport utility vehicle Santa Fe has been named the safest vehicle of the year by the Ministry of Land, Transport and Maritime Affairs. The Korea Automobile Testing and Research Institute, sponsored by the ministry, carried out the New Car Assessment Program on 11 Korean and imported cars launched this year. Of them, the Santa Fe, the first SUV equipped with the seven-airbag system, received the highest safety rating in various crash tests and safety of
Dec. 7, 2012
-
Import car sales expected to increase by 8 percent in 2013
Import car sales, led by smaller, cheaper models, are expected to continue their growth momentum next year, a business lobby for foreign carmakers here said Friday. The Korea Automobile Importers and Distributors Association, or KAIDA, predicted new registrations could reach 143,000 units next year, about 8 percent growth from this year. The growth rate is lower than the more than 20 percent growth of the market this year that was driven by the free trade pacts with the U.S. and EU, consumption
Dec. 7, 2012
-
Samsung promotes women, top performers
Samsung Group’s promotions this year centered on the young, women and the best-performing. On Friday, Samsung promoted 485 employees to executive status. The move followed the CEO-level promotions carried out earlier this week. Among the group, 335 employees ― the largest number so far ― were promoted as executives. Among them, 74 received early promotions, while four were in their 30s. Last year, Samsung had granted early promotions to less than 60 employees. Women also received more promotions
Dec. 7, 2012
-
U.S. judge may cut Samsung damages
Samsung Electronics Co. may walk away paying less in damages for infringing some of Apple Inc.’s most critical patents. Judge Lucy Koh, the federal judge hearing the trial, said that although the jury that delivered the original verdict was precise and consistent in calculating infringement damages for 28 different Samsung products, the method the members used may have been mistaken.She was quoted as saying that her decisions may take weeks or months to finalize, adding that she is planning to i
Dec. 7, 2012
-
Judge calls for "global peace" in Apple-Samsung war
A judge mulling whether to trim or overturn Apple's billion-dollar damages award against Samsung on Thursday called for a ceasefire in the ongoing patent war between the smartphone titans."I think it's time for global peace," US District Court Judge Lucy Koh said after legal teams from Apple and Samsung dueled for hours over post-verdict motions in her courtroom in the Silicon Valley city of San Jose."Let me hear if there is anything the court can do," she continued. "It would be good for consum
Dec. 7, 2012