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, LG face U.S. trial over Alcatel-Lucent patents
Apple Inc. and LG Electronics Inc. are set to face trial over claims by an Alcatel-Lucent SA unit that they infringed patents for electronic devices including phones and computers. The jury trial, scheduled to begin in federal court in San Diego, stems from a 2010 lawsuit by the Paris-based company’s Multimedia Patent Trust accusing Apple and LG Electronics of copying video-compression technology that allows data to be sent more efficiently over communications media, including the Internet and s
Nov. 27, 2012
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Hyundai-Kia third in market cap
Hyundai Motor and its affiliate Kia Motors are together the world’s third-biggest carmaker in terms of market capitalization.According to industry data, the two companies’ combined market capitalization reached 70.2 trillion won ($65 billion) ― Hyundai with about 47.1 trillion won and Kia with 23 trillion won ― as of Nov. 19.Their value on the global stock market could be regarded as No. 3 out of 12 major automakers, research analysts said.Toyota Motor topped the list with 155.5 trillion won in
Nov. 27, 2012
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Ewha streets no longer ‘it’ shopping district
The streets and alleys of Ewha Womans University used to be filled with youngsters on the lookout for a bargain on new clothes and new shoes or just browsing with friends. The shoppers usually ranged from preteens to college students, mostly girls, making the area so popular that “let’s go to Ewha” equated “let’s go shopping.” That was 10 years ago. The same streets have taken on a much different look over the years, and the changes are not all good.“I’ve been here for a long time, for more than
Nov. 27, 2012
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S. Korean nurse honored for voluntary medical work in Malawi
The foreign ministry on Tuesday honored a South Korean nurse for her voluntary medical services and dedication to education in Malawi over the past 20 years. Baik Young-sim, 50, became the recipient of this year's "Lee Tae-seok Award," which Seoul's foreign ministry introduced last year to honor the late Catholic missionary and physician Lee Tae-seok. He devoted his life to helping people in South Sudan. Baik began her voluntary medical work in Kenya in 1990 and, after four years, moved to Mala
Nov. 27, 2012
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Average Korean spends $67 a year on ‘Lotto’: ministry
The average Korean has spent about 73,000 won ($67) per year on average in buying “Lotto,” the best-selling lottery ticket issued by the nation’s largest lottery operator Nanum Lotto, the Ministry of Strategy and Finance said on Monday. Fluctuations in the sales history of the national lottery meet the unspoken rule that Lotto is a hidden barometer for the nation’s real economy.Celebrating the 10th anniversary of foundation, Nanum Lotto was first issued in December 2002, when its average annual
Nov. 26, 2012
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Korea’s trade volume to top $1tr in 2012: ministry
The trade volume of South Korea is expected to top $1 trillion for a second consecutive year in 2012, making the country the eighth-largest trader in the world, the government said Monday.According to the Ministry of Knowledge Economy, South Korea will see its trade volume exceed the $1 trillion in the middle of next month. If the forecast is right, Korea will surpass Italy to become the eighth-largest country in terms of trade volume.South Korea ranked 13th in terms of trade from 2000 to 2002 b
Nov. 26, 2012
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Samsung Electronics to improve working conditions at partner firms in China
By Cho Ji-hyunSamsung Electronics on Monday announced a set of measures to improve its working conditions at the firm’s Chinese partners.The world’s top smartphone maker acknowledged that some of its workers had to work extended hours and that some were not given a copy of their contracts that state their working conditions.The company said that it did not find any minors under age 16 employed at any of its 105 partner firms. Samsung Chinese plants were exempted from the report.The results were
Nov. 26, 2012
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Hyundai Motor shrugs off EU slump
By Lee Ji-yoonEuropean auto sales, possibly facing a 17-year low this year, saw a further decline last month. But Korea’s Hyundai Motor was one of the few carmakers with continued growth momentum in the sluggish market, industry data found Monday. According to the European Automobile Manufacturers’ Association (ACEA), Hyundai sold 33,687 vehicles in Europe last month, a 10.2 percent rise from the previous month. In the first 10 months this year, the company saw a 9.3 percent growth in sales, del
Nov. 26, 2012
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Units’ merger signals SK restructuring
The planned merger of two SK Telecom subsidiaries ― SK Planet and SK Marketing & Company ― is seen as SK Group’s first step to streamline its subsidiaries to improve the conglomerate’s efficiency, a report said on Monday.Yang Jong-in, an analyst at Korea Investment and Securities, said that the merger of the two subsidiaries in the information and telecommunications sector would produce synergy by getting rid of projects that overlap.As exemplary cases, the two companies will combine projects li
Nov. 26, 2012
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French Chamber to run 2012 Gala
The French Korean Chamber of Commerce and Industry will hold its annual gala for the French-Korean business community Saturday. The event has become a must-attend event for about 800 business figures from both nations every year. It is an exceptional opportunity to network and build relationships,” said an official at FKCCI through a statement. This year’s event will be held in partnership with Chamonix Mont-Blanc, and the most enchanted winter village scene will be reproduced at venue, the offi
Nov. 26, 2012
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Black Friday boosts foreign online shopping sites
Spending a few hours every day browsing on U.S.-based online shopping malls for a good deal became a habit for 27-year-old office worker Cho Yun-hee ever since Black Friday sales began last week. “I have heard of Black Friday before, but considered it irrelevant to me because I live in Seoul. I only recently found out that there are ways I can take part in it by using overseas purchase and delivery agencies,” said Cho. “It will be cheaper than purchasing in Korea, even taking into account the de
Nov. 26, 2012
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KOTRA invites foreigners to ‘get to know Korea’
Invest Korea, a unit under the state-run Korea Trade-Investment Promotion Agency, held an event on Sunday to introduce Korea’s traditional culture to foreign investors and diplomats here. At the event titled “Get to Know Korea,” over 90 foreign investors, diplomats, press correspondents and their families including Canadian ambassador to Korea David Chatterson and Fuji Xerox Korea CEO Yasuaki Ueno enjoyed the Korean traditional musical performance “Miso” at Chongdong Theater in central Seoul. “M
Nov. 26, 2012
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Red tape is no way to fuel economic growth
Economic democratization, in other words, fair competition among all concerned parties, is the campaign buzzword for the upcoming presidential election. The term can mean a wide range of things ― from limiting the investment opportunities of the conglomerates and devising stronger regulations to protect smaller companies, to promoting fair trade laws. But the gist of it is to weave a powerful regulatory web for keeping the business sector in check. Before talking more about the concept of the te
Nov. 25, 2012
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KDI school opens English website on development
KDI School of Public Policy and Management opened on Friday an English-language website which provides information on South Korea’s economic development process. The total information system K-developedia (www.kdevelopedia.org) contains data published by local and international research institutes and international organizations such as the World Bank and United Nations. All the information including research data, photographs and video materials are offered for free at the website. Data origina
Nov. 23, 2012
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The Shilla Seoul to close for refurbishment
The Shilla Seoul said Friday that it would close in January for about six months for a major refurbishment. The hotel said that it would cease all hotel services during the six-month revamp, except the Shilla Duty Free Shop, which will be open throughout the refurbishment period. Having been built more than three decades ago, the hotel building needs to renovate the guestrooms and bathrooms, hotel officials said. They said that the project will only involve the interior of the hotel and not the
Nov. 23, 2012
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LS Cable focuses on India in bid to become global leader in sector
LS Cable & System chairman Koo Cha-yol reaffirmed Friday the company’s goal of becoming the No. 1 player in the global cable industry, celebrating the 50th anniversary of its foundation. “Based on our prowess accumulated over the past 50 years, we will step up efforts to become the global No. 1 in the next 50 years,” Koo said during the ceremony at its headquarters in Anyang, Gyeonggi Province, on Friday with some 400 company executives and guests in attendance. “The cable business is not just a
Nov. 23, 2012
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FILA Global chief Yoon wins Ernst & Young award
FILA Korea Ltd. and FILA Global chairman and CEO Gene Yoon won the sixth Ernst & Young Entrepreneur of the Year Award, or EOY, organizers said on Friday. The award is created to pioneer outstanding leaders of business whose strength and leadership inspire world. Out of six EOY awardees, Yoon won this year’s EOY Master’s Award in recognition of his excellence in mergers and acquisitions he showed in merging the global sports brand FILA, Ernst & Young Hanyoung said. In 2011, Yoon also succeeded in
Nov. 23, 2012
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IBK opens office in New Delhi
South Korea’s state-run Industrial Bank of Korea said Thursday it has opened an office in New Delhi in a bid to help support smaller Korean firms operating there.IBK said the move came as more Korean companies are expected to foray into the Indian market where sound economic growth is anticipated and the environment for foreign investors is improving.The bank added that it plans to upgrade the office into a branch later to better cater to smaller Korean firms operating there. The Indian office h
Nov. 22, 2012
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Samsung adds iPad mini to second U.S. court case
Samsung Electronics is preparing for another patent legal battle against Apple Inc. as it confirmed Thursday that the firm added the iPad mini to the list of patent-infringing products at a San Jose court.“Some of Apple’s wireless gadgets, including the iPad mini, have infringed on two standards-essential patents and six other patents belonging to the company,” said a Samsung official.The official, however, said it was still unclear which of the eight patents the iPad mini violated.The iPad mini
Nov. 22, 2012
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iPhone 5 to hit Korean shelves in early December: sources
Apple’s iPhone 5 is finally expected to hit the local market early next month, three months after its initial unveiling in San Francisco.Industry sources said the handset with a bigger 4-inch display will be available in Korea possibly on Dec. 7 through local mobile carriers SK Telecom and KT.Running on the fourth-generation Long Term Evolution networks, the iPhone 5, first released in September, is the Cupertino-based firm’s thinnest and lightest addition to its iPhone lineup.However, the launc
Nov. 22, 2012