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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Hanwha chief praises Jin for winning gold
Hanwha Group said Sunday that its chairman Kim Seung-youn praised pistol shooter Jin Jong-oh for capturing Korea’s first gold medal at the London Olympics on Saturday. “I’m very proud of Jin for impressing the public with the nation’s first gold medal. I feel boosted on my way to Iraq,” he was quoted as telling Jin’s coach by phone from a Dubai airport. On Saturday, Kim was leaving for Iraq where Hanwha Engineering & Construction will carry out a $8 billion housing project for 100,000 houses in
July 29, 2012
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Housing market continues to suffer stagnation
Experts concerned by government’s hasty measures to save sinking housing marketThe housing market is continuing to stagnate, with industry sources saying sales volume dropping by 20-50 percent every month compared to the same period last year. Following the sluggish demand, house prices are falling in the metropolitan area. Prices for apartments in Gangnam, where prices peaked in 2007, have been decreasing steadily since 2010. The 149.79-square-meter apartments at Daechi I’Park, which were price
July 29, 2012
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LG Electronics to release Optimus Vu in Japan
LG Electronics said Sunday that it will roll out its smartphone Optimus Vu in Japan on Aug. 3, the first overseas launch for the flagship phoneThe company said that the smartphone, which will be serviced by NTT Docomo, has been taking pre-orders since Saturday. The gadget, which features a 5-inch display, will be the third LTE handset to be unveiled in Japan.The firm also said it will sell 15,000 limited units which have the image of Hirohiko Araki’s popular comic “JoJo’s Bizarre Adventure” on t
July 29, 2012
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Eased casino rules spark investment worries
Lawmakers and gambling industry members have raised concerns over a government plan to lower entry barriers for foreign investors into the local casino business. The Ministry of Knowledge Economy on July 23 announced a revision to a law on business within the nation’s free trade zones, which aims to boost the inflow of overseas capital into the local gambling industry. Thus far, foreign investors who want to operate a casino here have been required to invest $300 million and undergo evaluation f
July 29, 2012
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Kia reveals K3 design
Kia Motors unveiled the exterior design of the K3 compact on Sunday.The latest model of the carmaker’s K series sedans is expected to be marketed in September to compete directly with Hyundai Motor’s Avante here. K3, themed on “dynamic muscularity,” carries the signature radiator grille of the K series, bold, “high-tech luxury car” style LED headlamps and a sports coupe-like shape. Kia revealed the design of the new mid-sized sedan on Sunday, one week after an artist’s rendering of the car was
July 29, 2012
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Police arrest two in KT data leak case
Police said Sunday they have arrested two people for allegedly hacking into the network system of KT Corp., South Korea's No.2 mobile carrier, and selling the data.The 40-year-old suspect, identified only by his family name Choi, and another were accused of leaking personal information of about 8.7 million mobile phone subscribers from February until recently, the National Police Agency's cyber te
July 29, 2012
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Apple, Samsung set for blockbuster U.S. patent trial
SAN FRANCISCO (AFP) - Apple and Samsung are set to square off in a California court Monday in what is seen as the biggest patent U.S. trial in recent memory.Apple is seeking more than $2.5 billion in a case accusing the South Korean firm of copying designs and other patents from the iPhone and iPad maker in the trial in San Jose, California, federal court.Samsung however alleges that Apple infring
July 28, 2012
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Food cluster to open in North Jeolla Province
The Ministry for Food, Agriculture, Forestry and Fisheries announced on Friday plans to establish Korea National Food Cluster in North Jeolla Province by 2015. The 3.58-square-kilometer cluster to open in Iksan, named FOODPOLIS, will focus on boosting research and development in the food industry and expanding exports and developing related culture, ministry officials said.It aims to be a new hub for the global food market, said officials at the Agriculture Ministry’s Korean National Food Cluste
July 27, 2012
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Kia sees earnings surge by 25 percent
Kia Motors reported an operating profit of 2.3 trillion won ($2 billion) during the first half of 2012, up 25 percent on the same period last year.The automaker also saw its sales increase by 9.5 percent to 24.3 trillion won and net profit rise by 10.4 percent to 2.2 trillion won, posting all-time high figures on its financial statements.Despite global economic uncertainties, Kia recorded sales growth of 17.8 percent in the United States, 24.5 percent in Europe and 16.3 percent China.It sold 289
July 27, 2012
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Samsung Electronics posts record Q2 profits
Net reaches $4.5b as smartphones remain growth driver, but chip profits continue slideSamsung Electronics, the world’s largest tech company in terms of revenue, posted record earnings in the second quarter of this year, despite the global economic slowdown.The tech giant posted net profit of 5.2 trillion won ($4.5 billion) from April to June this year, up 48 percent from 3.5 trillion won a year earlier. Its operating profit reached 6.7 trillion won, up 79 percent from 3.8 trillion won, with reve
July 27, 2012
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Samsung Q2 net jumps 48 percent on brisk smartphone sales
Samsung Electronics Co., the world's largest maker of computer memory chips and smartphones, said Friday its second-quarter earnings jumped 48 percent from a year earlier, powered by strong sales of smartphones.Net profit reached a record 5.2 trillion won (US$4.5 billion) in the April-June period, compared with a net income of 3.5 trillion a year earlier, the company said in a regulatory filing.Sa
July 27, 2012
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French action could hit Renault Samsung, GM Korea
Renault Samsung Motors and GM Korea could be severely hit by proposed French government action to invoke “safeguard” measures against cars produced in Korea, auto industry insiders said Thursday. The French government notified the Korean government of its move to take issue with vehicle trade imbalance and other matters under the Korea-EU Free Trade Agreement.“We’ve been informed of their policy through the French Embassy on July 24,” said an official of the Foreign Affairs and Trade Ministry.“T
July 26, 2012
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SK Hynix bounces back into black in Q2
SK Hynix posted 2.63 trillion won ($2.29 billion) in sales and 23 billion won in operating profit for the second quarter, bouncing back into the black for the first time in four quarters.In a quarterly regulatory filing, the chipmaker said on Thursday that its sales figure was up 10 percent from the first quarter and its operating margin recorded 1 percent, its officials said.Bit shipments and the average selling price for the firm’s dynamic random access memory both rose 7 percent from April-Ju
July 26, 2012
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Hyundai Mobis fined for abusing suppliers
Hyundai Mobis, the nation’s largest auto parts maker, was slapped with 2.95 billion won ($2.57 million) in fines and corrective orders for demanding lower prices from its subcontractors, the state-run antitrust watchdog said Thursday. According to the Fair Trade Commission, Hyundai Mobis, a unit of Hyundai Motor Group, abused its market dominance in demanding its smaller suppliers lower their prices between 2008 and 2011.The company selected suppliers that promised the lowest prices and then dem
July 26, 2012
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Hyundai Motor posts record sales in first half
Nation’s largest carmaker confident of achieving this year’s sales goal globallyHyundai Motor said Thursday it posted record sales in the first half of this year, largely driven by strong sales growth in overseas markets, including the European market. The nation’s largest carmaker said it earned 42.1 trillion won ($36.7 billion) in the first six months of this year, up 9.9 percent from the same period last year. Its operating profit jumped 21 percent to 4.78 trillion won. Both figures were a re
July 26, 2012
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Bibigo opens sixth overseas restaurant in London
CJ Foodville said Thursday it opened the first European branch of its restaurant chain Bibigo in London.The London branch will be a bar and dining flagship store that offers not just bibimbap, or steamed rice with beef and vegetables, but all kinds of Korean cuisine, said the restaurant business arm of CJ.The 264-square-meter restaurant will serve menus jointly developed by star chef Leo Kang and Noh Hee-young, chief strategist for Bibigo and CJ Group’s executive director of brand communication.
July 26, 2012
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NHN plans to launch messaging app LINE in China
NHN Corp., South Korea's biggest Internet portal operator, aims to launch its social networking service in China this year, officials said Thursday. NHN Japan Corp., a subsidiary of NHN, hopes to introduce LINE to the world's fastest growing smartphone market, as the company targets 100 million users worldwide this year, the company officials said. In June 2011, The company released LINE, a free g
July 26, 2012
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LG Display posts fourth quarterly loss on price-fixing settlement
LG Display Co., the world's No. 2 maker of liquid crystal display (LCD) screens, said Thursday it stayed in the red for the fourth straight quarter as a one-off payment for a price-rigging settlement outweighed recovering profitability.Net loss came to 112.3 billion won ($98 million) in the April-June period, shifting to negative territory from the previous year, the company said in a regulatory f
July 26, 2012
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Ssangyong Motor Q2 loss narrows on lower costs
Ssangyong Motor Co., the smallest automaker in South Korea, said Thursday that its net loss narrowed in the second quarter from a year earlier mainly due to decreased costs.Net loss came to 20.9 billion won ($18.23 million) in the April-June period, compared with a loss of 34.9 billion won a year earlier, the company said in a regulatory filing.Sales fell 2.3 percent on-year to 712 trillion won. T
July 26, 2012
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SK Hynix posts fourth straight quarterly loss in Q2
SK Hynix Inc., the world's No. 2 memory chip maker, said Thursday it logged a net loss for the fourth straight quarter as weak cheap prices and currency losses ate into its profit.Net loss reached 53.3 billion won ($46.4 million) in the April-June period, a sharp turnaround from a 473 billion won profit a year earlier, the company said in a regulatory filing.Sales slipped 4.6 percent on-year to 2.
July 26, 2012