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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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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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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Foreign firms unhappy with tax burden: KCCI
Nearly seven in 10 foreign companies in Korea said they would consider withdrawing from the country if their tax burden continued to grow, a poll showed Wednesday.According to a survey of 158 foreign businesses conducted by the Korea Chamber of Commerce and Industry, 69 percent of the respondents said “withdrawal could seriously be contemplated” if the nation chooses to levy heavier taxes.The KCCI reported that most of the respondents expressed unease about the nation’s corporate tax environment
July 25, 2012
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Samsung becomes sole DDR3 provider for supercomputer center
Samsung Electronics said Wednesday that it has become the sole supplier of low-power memory interface technology for the Leibniz Supercomputing Center, which hosts the powerful supercomputer in Europe.The company said that it has won the order to produce 30 nano-class, 4-gigabyte green double data rate type-three synchronous dynamic random access memory (DDR3 SDRAM) modules, applying the green memory in advanced computing systems.The DDR3, also known as synchronous DRAM, is the new generation of
July 25, 2012
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Korea aims to export method for four-river project to Thailand
Government-led consortium will join race to participate in Thailand’s water management projectA government-led consortium plans to jump into an international bidding war to participate in a large-scale water management project in Thailand, which Seoul officials say could become the first case of exporting Korea’s own four-river restoration project. The Ministry of Land, Transportation and Maritime Affairs said Wednesday the consortium, named “Dream Team,” will join the first-round bidding to par
July 25, 2012
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Tax agency, hotels team up to promote traditional liquor
The National Tax Service said on Wednesday it has teamed up with five-star hotels across the country to boost sales of traditional liquor such as makgeolli.Sixty-eight hotels agreed to sell traditional liquor in their Japanese and Chinese restaurants as well as Korean restaurants, in addition to providing storytelling booklets on the history of traditional liquors, regions where they are produced and how they are made. Forty-two hotels in Seoul, Busan and Jeju started traditional liquor sales on
July 25, 2012
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LG’s mobile unit posts 56.7b won loss in Q2
LG Electronics said Wednesday it posted 349 billion won ($302.95 million) in operating profit for the second quarter, down about 22 percent from the previous quarter.In a quarterly regulatory filing, the country’s electronics giant also said it recorded 12.85 trillion won in sales, which is an increase of 5.16 percent compared to the first quarter.The operating profit figure, however, was up more than 120 percent from the 158.23 billion won reached in the same period last year with its sales dow
July 25, 2012
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Residents demand resumption of whaling
Claim whales are depleting fish stocks; meat already traded based on murky rulesULSAN (Yonhap News) ― When South Korea announced plans earlier this month to resume scientific whaling, the decision caused a rush of domestic and international criticism. But in one small city, a party was thrown. Residents of Ulsan, a coastal city 414 kilometers southeast of Seoul, gathered to celebrate a move they hoped might bring back some of the city’s former glory as a hub of whaling. “We welcomed the news,” s
July 24, 2012
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SK Innovation, Continental ink car battery deal
SK Innovation and German automotive parts supplier Continental have teamed up to develop batteries for electric vehicles through a joint venture scheduled to begin within the year in Berlin, Korean company officials said Tuesday. Under an agreement signed on Monday at Continental’s headquarters in Frankfurt, the two companies agreed to invest a combined 270 million euros ($330 million) into the joint venture in the coming five years. SK Innovation, a flagship unit of SK Group, will hold a 51 per
July 24, 2012
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Pension fund blocks Visteon’s Halla buyout
Visteon Corp.’s attempt to buy the remaining 30 percent of Halla Climate Control Corp. is being blocked by Korea’s National Pension Service, the country’s biggest institutional investor. The pension service, which owns 8.1 percent of Halla, rejected Visteon’s offer after reviewing Halla’s future value and growth potential, the pension fund said in a statement in Seoul on Tuesday. Visteon needs approval from shareholders representing 95 percent of Halla’s stock for the offer, which closes Wednesd
July 24, 2012
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LG to release English voice recognition tool in 2013
LG Electronics said Tuesday its newly-named proprietary intelligent voice recognition app “Q Voice” will be ready in English by the first half of next year.While competing with other personal assistant voice tools like Apple’s Siri, Samsung’s S Voice and Google, the company also said it will launch the app in European and other Asian countries following its release in English, said Sohn Jin-ho, head of LG’s Future IT and R&D Lab.“Korea is the nation that is leading the trend, which is why we wil
July 24, 2012
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Oracle pursues continuously charging Java license fees
Oracle president Mark Hurd said Tuesday that the firm would continue to charge Java license fees, saying that Java is its key technology.In a press conference marking Hurd’s first visit here to kick off the Oracle Optimized Data Center event series, he emphasized the importance of the firm’s Java development platform.“(Java) is the core development platform for our middleware platforms and applications,” he told reporters. “Java has very exciting prospects for the future and we have over 9 milli
July 24, 2012
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Import car brands wary of FTC probe
Antitrust watchdog poised to dispatch inspectors to officesSix import car brands in Korea are paying close attention to the antitrust regulator’s ongoing investigation into foreign carmakers on suspicion of price-fixing and irregular practices with dealerships.According to the Fair Trade Commission, the brands under investigation are BMW, Mercedes-Benz, Volkswagen, Audi, Toyota Motor and Lexus. Mercedes-Benz Korea recently enhanced its public relations in a move to prevent misinformation from be
July 24, 2012
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Chunho Food gets thanks from summit participants
Korean health food manufacturer Chunho Food announced on Tuesday that it has started receiving letters of thanks from foreign leaders for gifts it presented to attendees during the 2012 Seoul Nuclear Security Summit held earlier this year. According to news reports, Chunho Food’s president, Kim Young-shik, gifted attendees with the brand’s representative cherry extract health product, “Sansuyu 1000 Premium,” as well as wine vinegar. In a letter included with the gifts, Kim also asked the confere
July 24, 2012
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Korean users of Diablo 3 feel betrayed over game glitch
Blizzard Entertainment, a U.S. game developer, is in hot water in Korea as its latest multiplayer RPG game, Diablo 3, has a bug that allows some users to exploit characters’ abilities at will. Diablo 3 users in Asia are now able to play an "invincible wizard" character by tweaking some gaming options, a cheat that sparked uproar from local gamers. The revelation about the bug came from a North American forum on the popular game. A user of the American server posted a video clip on the Internet,
July 24, 2012
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Taiwanese firms file complaints on Korean stainless steel products
HONG KONG -- Taiwanese steel manufacturers have filed anti-dumping complaints on South Korean stainless steel products, saying they are sold at excessively low prices, South Korea's trade agency said Monday.Taiwan's leading stainless steel makers Yieh United Steel Corp. (YUSCO) and Tang Eng Iron Works Co. submitted complaints to the country's ministry of commerce, claiming South Korean products ar
July 23, 2012
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Two Koreas mulling joint development of rare earths
But Seoul officials cautious about specific progress in talksSouth Korea and North Korea are considering carrying out a joint project developing rare earth minerals buried in the North but working-level discussions have been suspended since the death of former North Korean leader Kim Jong-il in December. Korea Resources Corp., the South’s state-run resource explorer, confirmed Monday that they tested four rare earth samples from the North to see if they are economically exploitable, saying, “No
July 23, 2012
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LG Electronics releases new all-in-one computer
LG Electronics released its new all-in-one personal computer on Monday to meet the rising demand for the category in the local market.Dubbed the “V720 Series,” the all-in-one computer ― which plays the role of PC, small-size 3-D television and monitor ― comes with a separate remote control for the TV, its officials said.The product enables people to watch TV with a remote control without booting up the computer, said LG officials. They can also use the “picture in picture” function to watch TV w
July 23, 2012
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Big companies brace for financial difficulties
Cash flow problems hit conglomerate-based exporters on global factors such as euro crisisMore and more large-sized companies are facing risks of deterioration in financial soundness, mostly hit by external factors like the eurozone debt crisis.Among them are SK Telecom, SK Hynix, LG Display, LG Uplus, LG Innotek, LG International Corp., Cheil Industries, CJ CheilJedang Corp., Hanwha Chemical, Hyundai Hysco, Hyundai Merchant Marine and Doosan Heavy Industries, according to FnGuide, a financial in
July 23, 2012
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KRA to breed 100,000 horses
The state-run organization in charge of horseracing announced on Monday plans to step up as both a company engaged in social contributions and as a leader in the horse and leisure industry until 2022, the centennial year of South Korea’s horseracing history. To meet the goal, the Korea Racing Authority revealed four targets to reach by 2022: to develop the industry into a 1.3 trillion won ($1.14 billion) market; to make 30 percent of its profits in non-racing businesses; to breed 100,000 horses;
July 23, 2012
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KCS finds Nintendo piracy worth W100b
The Korea Customs Service announced on Monday it had referred about 25 people who illegally copied Nintendo computer games and illegal cartridges to prosecutors for investigation. The alleged violators of the copyright law, unearthed by the KCS, include 15 online shopping mall managers who sold over 90,000 pirated games of the Japanese game company and also illegally produced cartridges. The pirated goods are worth at least 100 billion won ($87.2 million), according to the KCS. The illegal cartr
July 23, 2012
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Lego aims to expand toy market
Local unit chief says more competition will help parents realize the ‘play value’ of toysDanish toy firm executive Steen Lauge Kokkenborg understands that all work and no play makes for a very dull person. So Kokkenborg, who has been serving as the general manager of Lego Korea for the past two years, has made it his personal mission to spread the importance of “play” in sparking a child’s imagination and helping him or her develop into a well-rounded, well-adjusted adult. “Korean parents....(so
July 23, 2012