Most Popular
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Korea added to key bond index
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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Jay Park returns with quintessential R&B album after 8 years
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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Netflix's latest runaway hit is a Korean reality cooking show
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Patients opting to die with dignity on steady rise
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LG Display sues Samsung over patent infringement
LG Display Co., the world's No. 2 maker of liquid crystal displays, filed a lawsuit Thursday against tech giant Samsung Electronics Co. over alleged violation of its patents.In a press conference in Seoul, LG Display claimed Samsung Electronics, the world's largest smartphone manufacturer, had infringed seven of its patents on organic light-emitting diode (OLED) panel technologies."The company fil
Sept. 27, 2012
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Kukdong files for court receivership
Kukdong Engineering & Construction on Wednesday filed for court receivership. The 65-year-old firm, an affiliate of Woongjin Group, announced its insolvency on Tuesday. It is the second time the firm has filed for court receivership, having previously applied in 1998. The firm, which ranks 38th in the construction field, had led the country’s advance into the Middle East market in the late 1970s a
Sept. 26, 2012
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Samsung gathers ammunition for new trial
Firm alleges ‘juror misconduct’ to see Apple verdict thrown outSamsung Electronics appeared to be busy gathering ammunition to overturn a recent billion-dollar verdict from a U.S. federal court that Samsung “willfully” infringed Apple’s software patents. “Juror misconduct” is the latest argument from the Suwon-based electronics maker, which alleges that the foreman of the nine-member panel which deliberated on the high-stakes patent battle with Apple failed to reveal his previous involvement in
Sept. 26, 2012
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Korean Air signs deal to repair U.S. F-16 fighters
Korea’s leading flag carrier Korean Air said Wednesday that it has signed a contract with the U.S. Air Force in the Asia Pacific region over repair work on F-16 fighters to improve combat capability. The 35 billion won ($31 million) project includes stealth coating, inspection of wings and restoration and replacement of major parts of F-16 fighter jets from October until 2018. The company declined to comment on the number of fighters that it would repair, calling it a trade secret. Korean Air sa
Sept. 26, 2012
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Samsung’s heir apparent off to U.S., Mexico
Lee Jay-yong is scheduled to meet Mexico’s billionaire Carlos SlimSamsung heir apparent Lee Jay-yong left for North America on Wednesday for talks with leaders of major global mobile carriers including billionaire Carlos Slim in Mexico.Lee, the chief operating officer of Samsung’s flagship unit Samsung Electronics, will be meeting with U.S. telecommunications officials and visit its overseas office on his business trip during the Chuseok holiday.During the meetings, he will most likely discuss m
Sept. 26, 2012
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LG chief calls for market dominance
Chairman Koo vows to replace CEOs when businesses lag behind competitorsLG Group chairman Koo Bon-moo called for efforts by CEOs of companies within the conglomerate to dominate markets at home and abroad, indicating that he would replace those who fail to attain the goal.The tycoon unveiled his personnel policy during a meeting of chief executives of the group’s subsidiaries, held at the headquarters in Yeouido, Seoul, on Wednesday.“Though we’ve grappled to take the lead in the market over the
Sept. 26, 2012
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Bosch to invest W200b in Korea
Bosch Group will spend 200 billion won ($178.7 million) on facility expansion in South Korea by next year and hire 300 workers, the head of the German auto part manufacturer’s local unit said Tuesday.Hermann Kaesse, president of Robert Bosch Korea Ltd., told reporters that the planned spending is based on the belief that the South Korean car industry will further develop.Bosch Group has Korean units such as Robert Bosch Korea, Bosch Electrical Drives Co., Bosch Rexroth Korea Ltd., and ETAS Korea
Sept. 25, 2012
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Hyundai Motor sells $1b in global bonds
South Korea’s top automaker Hyundai Motor Co. said Tuesday its U.S. financial unit has raised a combined $1 billion by selling dollar-denominated bonds in New York in a bid to secure funds for marketing promotions.Hyundai Capital America issued two kinds of $500 million bonds denominated in dollars due in either three or five years, Hyundai Motor said in a statement.The three-year bond has a coupon rate of 1.625 percent, 1.3 percentage points above U.S. treasury bond yields, while the five-year
Sept. 25, 2012
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Korean Air to resume direct flights to Saudi Arabia
South Korea’s top air carrier Korean Air Lines Co. said Tuesday that it will resume direct flight services to Saudi Arabia in November after a 15-year break.Korean Air said it will offer three weekly flights to the Saudi capital of Riyadh and the country’s largest port city of Jeddah starting from Nov. 9 with the 218-seat A330-200 passenger jet.The flag carrier operated direct flight services to Saudi Arabia from 1977 to 1997.The planned resumption of direct flights to Saudi Arabia is designed t
Sept. 25, 2012
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Hyundai to supply hydrogen Tucson ix to Copenhagen
Hyundai Motor said Tuesday that it will provide its hydrogen fuel cell electric car Tucson ix to the city of Copenhagen next year with the aim of joining Denmark’s initiative for environmentally friendly transportation. Fifteen Tucson ix sport utility vehicles will be leased for official use by the Danish city government in the first half of next year, following a memorandum of understanding for a pilot program that was signed in May last year. While Hyundai has recently joined hands with Europe
Sept. 25, 2012
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Samsung SDS offers glimpse of 2013 IT mega trends
List includes big data, cloud services and IT consolidationSamsung SDS, the country’s IT services provider, announced its selection of IT mega trends for next year, in order to help different industries prepare for the future.While categorizing the 2013 mega trends into four categories ― new values, new threats, new creativities and new growth ― the company said the nine elements of next year’s trends are valuable big data, progress in cloud services, IT consolidation, advanced cyber attacks and
Sept. 25, 2012
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Newest expansion for ‘World of Warcraft’ unveiled
Blizzard Entertainment on Tuesday showcased its latest edition “World of Warcraft: Mists of Pandaria” at a press conference held in Seoul. Launched three years after its predecessor “World of Warcraft: Cataclysm,” "Mists of Pandaria" premiered in Korea as Blizzard’s the fourth expansion set. The game company will give the public a chance to try out the new "Mists of Pandaria" for free starting on Thursday. "Mists of Pandaria" will begin nationwide charged service on Oct. 1. The new game involves
Sept. 25, 2012
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Hyundai Capital taps China’s auto financing market
Hyundai Motor Group announced Tuesday that its automobile financing subsidiary has successfully made inroads into the Chinese market through a joint venture.“Hyundai Capital Services launched Hyundai Capital China, a joint venture firm in collaboration with Beijing Automotive Industry Group Investment,” the automotive group said in a statement.It said the joint entity, headquartered in Beijing, will provide Chinese consumers with auto financing for Hyundai and Kia vehicles.The group’s initial in
Sept. 25, 2012
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Solvay looks to Korea future with R&D center
Belgian CEO speaks on business, new entity to replace EUCCKAndre Nothomb has two official work titles: one is chief executive of Solvay Korea Co. and the other is finance officer of Solvay Special Chemicals global business unit.He earned the latter title as the Belgian chemical company with a history of 149 years chose Seoul as the headquarters for its special chemicals business last year.A Solvay research and development center is under construction within the Ewha Womans University campus in S
Sept. 25, 2012
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Safe data storage for millions of years?
TOKYO (UPI) -- Japanese electronics firm Hitachi says it has invented a way of storing data that could keep it safe and stable for hundreds of millions of years.The technology behind the long-term storage capability involves a laser that is employed to encode data into a piece of quartz glass with dots corresponding to binary code that can be read back by an optical microscope, ZDNet reported.Hita
Sept. 25, 2012
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Kumho Tire reaches tentative wage deal with union
Kumho Tire Co. reached a tentative wage deal with its union early Tuesday after overnight marathon negotiations, the company said.Under the agreement, South Korea's second-biggest tire maker will give workers 2.5 million won (US$2,200) and 50 percent of their monthly wages as lump-sum incentive payments.The labor union will vote on the tentative agreement on Thursday.The tentative deal came more t
Sept. 25, 2012
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Yearly salary at top 30 groups tops W63m
The average salary for workers in the nation’s 30 major conglomerates has come to 63 million won ($56,300) per year, according to a corporate information tracker.Hyundai Motor Group eclipsed the rest with a yearly wage payment of 84 million won last year, data gathered by chaebul.com showed. The nation’s No. 2 business group has 10 listed subsidiaries including Hyundai Mobis and Kia Motors.Hyundai Heavy Industries ranked second with 76.4 million won, followed by Samsung Group with 74.8 million w
Sept. 24, 2012
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Pantech launches new phone
Pantech on Monday unveiled its new 5.3-inch flagship smartphone named Vega R3, calling for a face-to-face battle with Apple’s upcoming iPhone 5.With the new quad-core handset slated to be rolling out in the market Tuesday, the company said it will release it through all three mobile carriers ― SK Telecom, KT and LG Uplus. The model runs on the fourth-generation Long Term Evolution network and a 3G version is not available, according to its officials.Claiming that its premium models will use the
Sept. 24, 2012
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SK Comm. begins merger talks with Kakao Talk
HONG KONG (Yonhap News) ― SK Communications Co., South Korea’s third-largest Internet portal service provider, is in an early stage of merger talks with the developer of South Korea’s most prominent social network service, sources said Monday.SK Communications, which operates Cyworld, once South Korea’s most prominent social networking service, is seeking to merge with Kakao Corp. that operates a namesake mobile messenger service, several financial sources in Hong Kong confirmed.The move could p
Sept. 24, 2012
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LG files for injunction against Samsung
LG Electronics said Monday it filed for an injunction against Samsung Electronics at a Seoul court involving its rival’s advertisement on the two companies’ high-capacity refrigerators.LG said that Samsung should immediately stop airing its advertisements posted on YouTube because they contain unverifiable information that is ruining the reputation of its own refrigerators as well as its corporate image.According to LG, Samsung posted a video ad on Aug. 22 that compares the capacity of the two f
Sept. 24, 2012