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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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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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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Legislation underway to prohibit sale of energy drinks in school zones
Fast-growing energy drink industry meets growing pressure over health risks The local market for energy drinks which contain large amounts of caffeine has grown remarkably over the past two years, but is expected to face regulations due to health risks.Rep. Choi Dong-ic of the main opposition Democratic United Party is gathering fellow lawmakers’ support to submit a revised bill next month to ban the sale of energy drinks near schools to limit children’s access to the caffeinated beverages which
Aug. 30, 2012
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Samsung wows crowd with new Galaxy Note 2, Galaxy Camera
Firm becomes world’s first to roll out Windows 8 handsetSamsung Electronics on Thursday featured the new 5.5-inch Galaxy Note 2 as well as a new device called Galaxy Camera at its mobile unpack event ahead of the IFA electronics trade show in Berlin. The world’s top smartphone maker also wowed the crowd of about 1,500 people by introducing its new “ATIV” lineup of smart PC, tablets and smartphones
Aug. 30, 2012
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POSCO E&C expands social contributions
Following is the fourth in a series of stories about companies’ social contribution activities. ― Ed.POSCO Engineering & Construction, a leading Korean builder, is stepping up efforts in social contribution activities by encouraging employees to participate in volunteer programs both in Korea and abroad. The construction unit of the world’s fourth-largest steelmaker POSCO last year announced its new slogan “Happy Builder,” which represents the company’s willingness to create a happier society.
Aug. 29, 2012
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Justice comes under spotlight in Samsung-Apple verdict
Fairness has come under spotlight over the recent verdict on the patent lawsuit between Samsung Electronics and Apple.Local market observers including some analysts remained cynical over the situation that Apple won a billion dollars last week, after a jury ruled that Samsung had copied a handful of features from the iPhone.They cast doubt if the jury really profoundly reviewed a variety of documents, tendered from both sides, which involve technology-related sophisticated content. “While attorn
Aug. 29, 2012
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Koreans spend more at local duty-free shops than abroad
South Korean overseas travelers spend more at local duty-free shops on the way out than at their actual travel destinations, according to a report by the Korea Chamber of Commerce and Industry. A survey conducted on 700 Korean travelers showed that one spends an average of 459,000 won ($405) at duty-free shops per departure and about 389,000 won at their travel destinations, the KCCI said on Monday. Travelers to the South Pacific region, Southeast Asia or Japan especially spent more at duty-free
Aug. 29, 2012
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Regulators to strengthen surveillance on patent deals
Monitoring puts more emphasis on tech, drug sectorsThe nation’s antitrust watchdog is looking into patent licensing deals between multinational companies and their Korean partners with an aim to prevent abuse cases here, officials said Wednesday. According to officials of the Fair Trade Commission, the regulator has recently completed a rough investigation into major patent contracts in the tech and pharmaceutical sectors and requested a private institution to carry out an in-depth analysis. “We
Aug. 29, 2012
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Korea, Vietnam vow stronger partnership in forest investment
The Korea Forest Service met with its Vietnamese counterparts on Monday for the seventh Korea-Vietnam forest partnership conference held at the Korea Forest Research Institute in Seoul. Officially titled “Seventh Meeting of Korea-Vietnam Forestry Cooperative Committee,” the conference invited both nations to discuss ways to attract Korean investment in Vietnamese forestry. Beyong strengthening government promotion for active investment, the 20 participants agreed to give greater authority to the
Aug. 29, 2012
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Samsung to take stronger stance in fight with Apple
Samsung Electronics is expected to take a stronger stance in its patent battle against U.S. software giant Apple Inc. as its chairman Lee Kun-hee urged management to make the “right” moves.Lee on Tuesday told company executive Choi Gee-sung, head of the group’s strategic office, to “take the appropriate actions” after being briefed about the current situation.“Chairman Lee does not get briefed too frequently about the patent fight with Apple but we believe we will take a more firm stance against
Aug. 29, 2012
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Man fired for 49-year-old fake dime scam
A Wells Fargo Home Mortgage employee in Iowa says he was canned this summer for a 10-cent Laundromat scam 49 years ago.The Des Moines News-Register reported Monday the company confirmed it fired Richard Eggers July 12 from his $29,795-a-year customer service representative position. The 68-year-old Vietnam veteran from Des Moines had held the job for seven years.The crime that did in Eggers occurr
Aug. 29, 2012
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Korea’s overseas royalty payments hit record high
Korean companies’ overseas royalty payments climbed to a record $4.31 billion in the first six months of this year, up 14.1 percent from a year ago, as they depended more on foreign intellectual property for their products, the Bank of Korea said Tuesday.A sharp rise in overseas payments for using intellectual property such as patented technologies and trademarks can negatively affect corporate earnings and share prices if global efforts to protect intellectual property rights strengthen, analys
Aug. 28, 2012
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LG unveils new smartphone Optimus G
LG Electronics on Tuesday unveiled its flagship smartphone called the Optimus G with plans to launch it in Korea next month.The company said that the new wireless gadget ― developed jointly with LG affiliates such as LG Chem, LG Display and LG Innotek ― will come with a 4.7-inch True High Definition IPS Plus display and a 1.5 gigahertz quad-core processor. The Optimus G, which was also dubbed the chairman’s mobile phone, will be the world’s first to carry the next-generation Snapdragon S4 proces
Aug. 28, 2012
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Renault Samsung to target young drivers with new SM3
Renault Samsung Motors said Tuesday that it would start sales of the New SM3, the facelift version of its flagship compact, in September. Celebrating the 10th anniversary of the SM3 model this year, the carmaker aims high in increasingly fierce competition against Hyundai Motor’s steady-seller Avante and Kia Motors’ new compact K3.“We have an ambitious plan about the sales of the New SM3. Even though it is a facelift model, we have added diverse changes in design, the engine and other features,”
Aug. 28, 2012
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Verdict may affect Samsung-Google deals
Samsung to stick to multi-OS strategy, not solely betting on AndroidThe strong partnership established between Samsung Electronics and Google appears to be shaking following a jury verdict at a San Jose court that turned against the Korean electronics maker.Industry sources had claimed that the patent battle between Samsung ― the top manufacturer of smartphones powered by Google’s Android mobile platform ― and Apple stems from the Cupertino-based firm’s fight against Android.“From what we know,
Aug. 28, 2012
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Club parties rise as key marketing tool
Companies say parties help raise brand image, but don’t expect immediate effect on salesAs depressing news on the sluggish economy continues to dampen consumer sentiment, a number of companies are choosing to throw club parties to refresh the mood and draw attention to their products.Parties have been a key marketing tool for consumer goods makers targeting those in their 20s and 30s as club culture spread across the country over the years. The companies do not expect the unlimited supply of fr
Aug. 28, 2012
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Samsung to fight jury verdict in San Jose
Company says it will make utmost efforts until U.S. judge’s final rulingSamsung Electronics said Monday that it will give its utmost effort to alter the jury verdict announced by a San Jose court over its patent battle with Apple last week.“There is no case in which a firm achieved continuous growth by only winning a court suit and not competing on fair grounds,” its officials posted on its internal blog.“The U.S. judge still needs to release a final ruling on the case and we still have many st
Aug. 27, 2012
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Top 10 conglomerates’ sales equal 76% of GDP
The combined sales of 10 major business groups in 2011 were equivalent to 76 percent of the nation’s gross domestic product, an online financial data provider showed Monday.According to the chaebul.com, total sales of the 10 largest conglomerates including Samsung and Hyundai Motor reached 946.1 trillion won ($837.2 billion) last year.The figure corresponds to 76.5 percent of Korea’s 2011 GDP of 1.23 quadrillion won.The portion of the 10 conglomerates’ sales as part of GDP stood at 53.4 percent
Aug. 27, 2012
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80% of Koreans skeptical over strike: KCCI
Four out of every five Koreans responded that they were skeptical about a large-scale strike mulled by one of the nation’s progressive labor unions, a major business lobby group said.Citing its survey of 510 adults, the Korea Chamber of Commerce & Industry said it has found that about 80 percent of them responded that the upcoming strike was not an appropriate way to resolve disputes with employers.Those respondents said a general strike will have a negative effect on the economy.The Korean Conf
Aug. 27, 2012
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First auto reliability survey fails to attract consumers, carmakers
The nation’s first state-run consumer survey on vehicles is gaining lackluster participation by car owners, and automotive companies are raising questions about its reliability. In July, the Fair Trade Commission launched a pilot program questioning local drivers on the product quality of their own sports utility vehicles via its website for consumer information. The survey, which collects reviews on 133 SUV models of Korean and foreign carmakers until Aug. 31, has attracted only some 50 partici
Aug. 27, 2012
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First auto reliability survey fails to impress both consumers, carmakers
The nation’s first state-run consumer survey on vehicles is gaining lackluster participation by car owners, with automotive companies raising questions about its reliability. In July, the Fair Trade Commission launched a pilot program questioning local drivers on the product quality of their own sports utility vehicles via its website for consumer information. The survey, which collects reviews on 133 SUV models of Korean and foreign carmakers until Aug. 31, has attracted only some 50 participan
Aug. 27, 2012
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Theaters going digital or die
U.S. movie theaters with antiquated projection equipment must convert to costly digital technology or face extinction, an industry official says.Minneapolis Star Tribune reported Saturday that by the end of the coming year the six major movie studios will only release new titles in digital format. The old 35-millimeter film format won‘t be an option.That means theaters with mechanical projectors face spending $70,000 to $85,000 apiece to upgrade to digital versions.The National Association of Th
Aug. 27, 2012