Most Popular
-
1
Korea added to key bond index
-
2
North Korea notifies UN Command of plans to fortify border with South
-
3
South Korean author Han Kang wins 2024 Nobel Prize in literature
-
4
Will Apple quit smart ring race with Samsung?
-
5
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
6
[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
-
7
More deaths in ICU following doctors' mass walkout: lawmaker
-
8
Security issues to take center stage at ASEAN summit
-
9
[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
-
10
Patients opting to die with dignity on steady rise
-
Com2uS to bask in growing smartphone game sector: UBS
South Korea’s leading mobile game maker Com2uS Corp. will benefit from the growing smartphone game industry, investment bank UBS said Sunday, offering a “buy” recommendation on the company.“We believe Com2uS will be a key beneficiary of the expansion of the global smartphone gaming market,” UBS said in its initial coverage report on the company.Com2uS is one of South Korea’s most successful makers of video games for mobile phones. The company is known for such mobile games as finger-wrenching Ho
July 22, 2012
-
LG launches upgraded robotic vacuum cleaner
LG Electronics said it rolled out an upgraded and square-shaped automated robotic vacuum cleaner called Roboking Dual Eye 2.0 on Sunday.The firm also said it aims to reach more than 50 billion won ($43.75 million) in robotic cleaner sales this year, a 40 percent rise from the 40 billion won the unit recorded in sales last year.Claimed to be the first square-shaped robotic vacuum cleaner in the industry, its latest model has increased its efficiency ― to 94 percent from 84 percent in 2011 ― in cl
July 22, 2012
-
Sluggish biz conditions cause layoff increases
Sluggish business conditions have caused a sharp rise in layoffs and involuntary retirements in South Korea’s labor market, a government report showed Sunday.According to data by Statistics Korea, 27.0 percent of people who had to leave work this year cited downturns in the business environment and outright closures of workplaces because of poor sales and earnings.This is a rise of 7.8 percentage points from 19.2 percent who had to leave work for the same reasons in 2006.The latest findings also
July 22, 2012
-
Asiana introduces premium first class
Asiana Airlines said Sunday that it has launched a new type of first-class service, OZ First Suite, which is based on the concept of “hotel suites transplanted in an air carrier.” Limited to three routes ― Incheon-Chicago, Incheon-Narita and Incheon-Ho Chi Minh ― the new premium service is offered only on the B777-200ER aircraft at present. The Incheon-Chicago flight runs four times a week, the Incheon-Narita flight four times a day, and the Incheon-Ho Chi Minh flight two times a day. The most e
July 22, 2012
-
Renault-Nissan to invest $160 million in local unit
The Renault-Nissan Alliance said Friday it will pour $160 million (170 billion won) into the ailing Korean unit Renault Samsung Motors for the production of Nissan models at the carmaker’s factory in Busan from 2014. The new investment plan came as Nissan Motor CEO Carlos Ghosn, who is also chairman and CEO of the strategic partnership between French and Japanese auto giants Renault and Nissan, arrived in Korea four years after his previous visit. Under the plan, the Renault Samsung factory in t
July 20, 2012
-
Samsung gains edge in Apple patent war
U.K. court orders Apple to post notices that Samsung’s tablets didn’t copy iPad designSamsung Electronics has gained an edge in its global patent battle with its rival Apple Inc. as a U.K. court ordered the Cupertino-based firm to publish public notices that Galaxy tablet PCs did not copy the iPad’s designs.On Wednesday, U.K. Judge Colin Birss ordered Apple to post a notice on the firm’s U.K. website and in British newspapers alerting people that Samsung did not copy the designs of the iPad for
July 19, 2012
-
Internet wine sales sow division in government, wine industry
Last month, the Fair Trade Commission appeared to have won over the National Tax Service. Just weeks later, both sides are back to the drawing board after months of wrangling ― over Internet wine sales.The commission has been arguing for months in favor of allowing online wine sales, an initiative to counter consumer dissatisfaction over continued high wine prices even with the implementation of free trade agreements with Chile and the European Union. The commission says the Internet path will s
July 19, 2012
-
Korean shipbuilders keep global dominance in H1
Korea’s shipbuilders continued to lead the global market in the first half of the year despite a large drop in overseas orders caused by sluggish economic conditions, the government said Thursday.In the January-June period, the world’s total orders for new ships plunged 58 percent from the same period a year earlier to 8.77 million compensated gross tons, a drop largely caused by “years of oversupply and the European financial woes,” the Ministry of Knowledge Economy said in a press release.Kore
July 19, 2012
-
Hyundai Glovis inks F-15K deal with Boeing
Hyundai Glovis Co., a local logistics service provider, signed a deal with U.S. defense contractor Boeing Co. on Thursday to help maintain the operational readiness of South Korea’s F-15K multirole fighters.The performance-based logistics program calls for Hyundai Glovis to manage inventories of parts and components used by the planes and ensure timely delivery to military maintenance personnel so they can be kept combat ready.Under the arrangement, Hyundai Glovis will receive payments for servi
July 19, 2012
-
Lotte fined for unfair intra-group transactions
The nation’s antitrust watchdog said Thursday that it fined Lotte PS Net, an automated teller machine operator of Lotte Group, 649 million won ($569,000) for offering favors to its sister company Lotte Aluminum. According to the Fair Trade Commission, Lotte PS Net used to purchase ATMs directly from local manufacturer NeoICP.However, from 2009, the company started purchasing the same NeoICP machines at higher prices through Lotte Aluminum, with the aim of providing commission to then-financially
July 19, 2012
-
Renault Samsung to produce Nissan cars
Japanese vehicles to be assembled in Korea for first timeRenault-Nissan Alliance chairman & CEO Carlos Ghosn will make public the auto giant’s strategy to roll out Nissan models at Renault’s Korean unit at a news conference, slated for Friday, sources in Seoul said on Thursday.This will mark the first time that Seoul-based Renault Samsung Motors, whose parent group is Paris-based Renault, takes on production of Japan-based Nissan cars.“Apart from Renault Samsung, no Japanese car model has been p
July 19, 2012
-
ING labor union to go on strike
The labor union of ING Life Insurance announced on Wednesday it will go on a strike later this month as the company refused to guarantee its members’ job security. The labor union will start the strike between July 25 and 31, to last for an indefinite period. “We are going on a strike because the company lacked sincerity when negotiating about employment security and the issue of irregular workers. The company deliberately delayed discussions so there was no progress,” said Lee Gi-cheol, the uni
July 19, 2012
-
Farm clusters group aims at agriculturally-advanced Korea
Lee takes over helm of agency supporting marketing for nearly 70 farm clustersLee Kyung-soo, president of the National Agro Food and Beverage Cluster Association, stressed that a real change in the local agricultural industry should start from a brand new mindset among CEOs at individual project clusters nationwide. “CEOs’ mindsets are very important. If cluster CEOs make changes, our farming and fishing villages would change, transforming Korea into an advanced agricultural country,” Lee said i
July 19, 2012
-
Chaebol target of ‘economic democratization’
This is the first in a two-part series about economic democratization touted by political parties ahead of the December presidential election. ― Ed.About 70 percent of 1,200 global investors and traders told a survey that the present capitalist structure should be revamped during their participation in the last Davos Forum.The poll result seemingly reflected growing criticism of corporate greed in many countries, according to local research analysts.While international economists are suggesting
July 18, 2012
-
Prevention better than cure: GS chief
GS Group chairman Huh Chang-soo on Wednesday requested executive officials to boost their readiness against risk factors in this time of economic turmoil. “We have to build up diverse strategies and scenarios to respond promptly to the ever-changing business environment. And we should carry out the plans aggressively,” he said at a third-quarter meeting with some 150 ranking officials. The 63-year-old chief of the nation’s seventh-largest business group said the current global crisis is “unprece
July 18, 2012
-
LG Chem sees boost in Q2 profit
LG Chem said Wednesday it posted about 5.99 trillion won ($5.24 billion) in sales and 503 billion won in operating profit in the second quarter, both boosted by increased sales in its information and electronic material and battery units.In its quarterly regulatory filing, the company said that its sales and operating profit from April to June went up 4.2 percent and 9.5 percent compared to the previous quarter. Its net profit, however, decreased 1.8 percent to 373.9 billion won.The information
July 18, 2012
-
LG Electronics fined for hindering antitrust probe
The Fair Trade Commission said Tuesday that it has fined LG Electronics 85 million won ($74,000) for hindering an antitrust investigation into the company’s alleged discrimination toward non-LG dealerships in provincial areas. In March, the state-run antitrust watchdog launched an on-site investigation into LG on suspicions of offering products to its affiliate dealership Hiplaza at “unfairly” cheaper prices compared to other retail buyers. Amid a tussle between investigators and company officia
July 17, 2012
-
KT launches new drive for LTE
Tech firm will not roll out 3G smartphones in second halfKT said Tuesday that it will release a new data rollover promotion plan for handsets running on the fourth-generation Long Term Evolution networks beginning in August.The promotion, which also offers 3,000 KT-to-KT voice minutes, is part of the company’s effort to secure 4 million LTE service users by the end of this year. The firm now has about 1.4 million LTE subscribers.The country’s No. 2 mobile carrier also said that it will not be in
July 17, 2012
-
Import car market to grow 40% by 2014
Foreign carmakers pledge to fulfill social responsibilityThe nation’s import car industry, which is continuously expanding, will grow by 40 percent over the next two years, the Korea Automobile Importers & Distributors Association said on Tuesday.At a news conference in Seoul to celebrate the 25th anniversary of Korea opening its automotive market to foreign players, KAIDA leaders predicted that sales of import vehicles will reach 140,000 units by 2014, from the current level of 100,000 units pe
July 17, 2012
-
Brokerages under probe for fixing CD rates
The nation’s antitrust watchdog launched on Tuesday an investigation into the possible collusion among local brokerages on their certificate of deposit rates, the benchmark for borrowing costs of local banks.According to industry sources, the Fair Trade Commission dispatched investigators earlier in the day to the nation’s 10 brokerages to secure relevant computer data and documents. The securities firms included Leading Investment & Securities, Dongbu Securities, Meritz Securities, Mirae Asset
July 17, 2012