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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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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More deaths in ICU following doctors' mass walkout: lawmaker
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Netflix's latest runaway hit is a Korean reality cooking show
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Security issues to take center stage at ASEAN summit
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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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Apple’s move to reduce Samsung parts to have limited impact
Apple still chooses to go with the Korean tech giant on application processorsSamsung Electronics is unlikely to suffer heavily Apple’s alleged move to pressure the Korean tech firm by cutting down its orders for components in its iPhone 5, which is expected to be released next Wednesday, analysts here said on Friday.According to industrial sources, Apple is on the move to depend less on its biggest rival Samsung as the U.S.-based firm did not put in orders for some of its parts such as the mob
Sept. 7, 2012
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IT ventures suffer manpower shortage: poll
South Korean information technology ventures are suffering from manpower shortages as fewer skilled people enter the field, a poll showed Friday.According to the survey on 1,800 small and mid-size tech firms conducted by the Korea Venture Business Association, 44.6 percent of respondents said they are suffering from a lack of skilled labor.They also cited financial strains, a sales slump, slow progress in research and development and stiff competition as business difficulties.The survey noted th
Sept. 7, 2012
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BMW Korea first in Asia to announce new 7 Series
BMW Korea unveiled on Thursday the new BMW 7 Series, the facelift models of the latest fifth generation of the German carmaker’s flagship luxury line. The Seoul launch was the first in Asia. “We plan to import some 600 new 7 Series vehicles this year. Of them, reservations for 500 have already been made,” said BMW Korea CEO Kim Hyo-joon at a launching event held in southern Seoul. Despite their expensive prices hovering at 130-180 million won ($110,000-150,000) here, the 7 Series models have bee
Sept. 6, 2012
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Google enters e-book market in Korea
Joint publishers’ e-reader to roll out in market soon, expecting a boom in Korean marketAttention is being paid to whether the nation’s electronic book industry will be able to bask in a boom as Google threw its hat into the local market this week.Google Korea said on Wednesday that it has created a new “Play Book” category on its mobile app store called Google Play with Korea being the first in the Asian region.By joining hands with many local and global publishers such as Woongjin, Ridibooks a
Sept. 6, 2012
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Renault Samsung, Ssangyong seek recovery
New SM3 targets young consumers; Ssangyong’s Rexton W to be assembled in IndiaRenault Samsung Motors and Ssangyong Motor are gearing up to bounce back from their prolonged sales slump in the local market.Renault Samsung, the fourth-largest automaker in Korea, has launched sales of the New SM3 early this month. Ssangyong Motor will begin production of the Rexton W at a factory in India where the company’s parent group Mahindra & Mahindra is located. The New SM3, the facelift version of Renault Sa
Sept. 6, 2012
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Court orders communications watchdog to release mobile carriers' cost structures
A Seoul court ordered the communications watchdog Thursday to release cost structures of the country's three mobile carriers in a decision that could possibly help raise pressure on the firms to cut down service charges. The Seoul Administrative Court delivered the ruling in favor of civil rights group People's Solidarity for Participatory Democracy, which petitioned the court to overturn the Kore
Sept. 6, 2012
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McDonald’s botches billboard targeting ethnic community
McDonald’s ruined their attempt at attracting a small Asian community by placing a botched billboard in St. Paul, Minnesota, according to news reports. The world’s second-largest food chain wrote the billboard in Hmong to appeal to the strong Hmong population in St. Paul. Hmongs are an ethnic group from the mountainous regions of Southeast Asia. Although the brand is famous for trying to tailor their products and services to locals, it messed up this time. The sign read, “Yuavtxhawbpabraukojsawv
Sept. 6, 2012
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Korea too dependent on Samsung, Hyundai Motor
Nokia-like failure may undermine overall economy: economistThe Korean economy holds a critically risky factor as it has been heavily dependent upon the two largest conglomerates ― Samsung and Hyundai Motor, economists say.Their worries and skeptical view over the nation’s economic structure revolve around the fact that earnings of Samsung Group and Hyundai Motor Group account for a great portion of the nation’s gross domestic product.The economy of Finland was led to “falter” due to its flagship
Sept. 5, 2012
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Minister pledges support against business-bashing by politicians
Top 30 conglomerates promise expansion of investment and jobsKnowledge Economy Minister Hong Suk-woo pledged Wednesday to help business activities of the nation’s major business groups not to be affected by the current political disputes over “economic democratization,” or efforts to promote balanced growth and prevent abuse of economic power. “Ahead of the presidential election at the end of this year, discussions related to economic democratization underway in the political circles can hamper
Sept. 5, 2012
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Oxymoron? A vegetarian McDonald’s to open
McDonald’s announced on Wednesday that it would open the first vegetarian McDonald’s near the Golden Temple at Amritsar, the Sikh holy city in northern India, according to news reports. The world’s second-largest restaurant chain decided to go vegetarian to cater to Hindus, who view cows as sacred, and Muslims, who don’t allow the consumption of pork. McDonald’s is known to tailor menus to fit the tastes of locals all around the world. The current top seller in India is McAloo Tikki burger, whic
Sept. 5, 2012
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Samsung violates Chinese workers' rights: report
Samsung forces employees at its Chinese factories to work up to five times the legal overtime limit, bans them from sitting down and denies basic labor rights, according to a US-based watchdog.According to China Labor Watch's probe of eight factories, the South Korean electronics giant is guilty of widespread "legal and inhumane violations."These include forcing workers at the Tianjin Samsung Mobi
Sept. 5, 2012
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Local governments’ debt snowballs
The fiscal status of local governments in major provinces has worsened critically as their combined debt has snowballed over the past five years.When the nation was hit by the 2008 global financial crisis, the central government recklessly used budgets held by local governments for boosting the economy, according to some research analysts.Local governments expanded their expenditure by issuing local bonds, and as a result, their debt increased by 61 percent from 17.4 trillion won ($15.5 billion)
Sept. 4, 2012
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Speculation grows about KEPCO CEO Kim
The presidential office on Tuesday downplayed the rumor that Korea Electric Power Corp. CEO Kim Joong-kyum will soon be dismissed.Speculation has risen that President Lee Myung-bak is considering replacing the top post at the state-run KEPCO as Kim’s management was going against government policies.While Cheong Wa Dae said it is “not considering” whether to discharge Kim “at the current stage,” public officials still did not rule out the possibility of dismissal before Kim’s term expires. Kim ha
Sept. 4, 2012
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Sept. 4, 2012
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IFC Seoul in Yeouido hopes to be city’s landmark, leading tourist attraction
Executive at AIG’s real estate arm confident about project’s successAn exceptional shopping mall opened in Seoul’s Yeouido area last week, targeting fans of global clothing stores such as Massimo Dutti, Zara, H&M and Uniqlo.The three-story underground mall lies beneath the International Finance Center complex which is comprised of three office buildings ― the 32-story One IFC, the 29-story Two IFC, the 55-story Three IFC ― and the 38-story Conrad Hotel. It took nine years to complete the IFC Seo
Sept. 4, 2012
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Why Abercrombie & Fitch is struggling
Abercrombie & Fitch was a brand that was hugely popular in the 2000s, with its skin-baring ads appealing to teenagers while infuriating parents. Now, however, Abercrombie is not attracting the crowds like it used to, according to news reports.The retailer has lost one-third of its market value in the past fiscal year with sales falling in the U.S. and Europe and has closed down 71 U.S. stores. It is expecting to close another 180 by 2015. Even while the brand remains relatively popular oversea
Sept. 4, 2012
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Typhoons cost local airlines about 17 bil.
The two recent powerful typhoons have cost South Korean airlines about 17 billion won ($15 million) in lost sales at the end of the summer peak season, company officials said Tuesday.Typhoons Bolaven and Tembin pounded South Korea with heavy downpours and strong winds late last month, forcing the cancellation of more than 860 domestic and international flights at airports in South Korea.The typhoo
Sept. 4, 2012
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Samsung’s two OLED TVs disappear during delivery to Germany
Samsung Electronics said Tuesday that two of its latest organic light-emitting diode televisions disappeared during delivery for the IFA electronics trade show in Berlin last week.A Samsung official said the firm’s display products were packaged at its Suwon plant on Aug. 21 and arrived at the German exhibition site on Aug. 28. However, the two TVs went missing sometime after that, making it difficult to guess the time and date of their disappearance.“We found out last Tuesday that the OLED TVs
Sept. 4, 2012
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Samsung denies alleged child labor abuse at Chinese supplier
Samsung Electronics Co. denied Monday an allegation by a civic group that children under the age of 16 have been employed by its Chinese supplier HEG Electronics Co. after a nearly monthlong inspection. In early August, New York-based labor rights group China Labor Watch released a 31-page report on the Chinese partner of the South Korean tech giant, saying the Chinese firm employed children aged
Sept. 4, 2012
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Founder’s death stirs speculation about church’s business empire
The death of Rev. Moon Sun-myung, the founder of the Unification Church, on Monday, is prompting speculation over the future management of the church’s business arm and other affiliated organizations, whose combined assets are estimated at around 6 trillion won ($5.3 billion).While his youngest son Rev. Moon Hyung-jin is widely thought to be the de facto successor to run the church, the church’s business empire Tongil Group is currently chaired by the fourth son Kook-jin, a 42-year-old Harvard U
Sept. 3, 2012