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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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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Apple settles Chinese iPad trademark fight: court
U.S. technology giant Apple has paid a Chinese firm $60 million to settle a long-running dispute over the iPad trademark in China, a court said Monday.The government body overseeing trademarks has been asked to immediately recognise Apple's rights to the iPad name, the High Court of the southern province of Guangdong said on its website.Apple last week paid $60 million to settle the dispute, accor
July 2, 2012
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Chaebol ownership strengthened this year: FTC
Chaebol owners’ control of management has been strengthened with an increase in conglomerate shareholdings, a government report said.The Fair Trade Commission said Sunday that the nation’s top conglomerates were still slow to reform ownership and had adopted intra-group shareholdings more actively this year. The FTC, which surveyed the nation’s 63 large companies, found that 43 conglomerate owners, especially, have expanded control through the so-called “circular shareholding” structure.Circular
July 1, 2012
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E-Mart looks to buy stores from NS Home Shopping: reports
Discount chain store operator E-Mart is looking to acquire retail stores and a distribution center belonging to NS Home Shopping, according to media reports.The company is said to have signed a memorandum of understanding with NS and that E-Mart will begin due diligence on its counterpart’s assets next week.The acquisition price of 23 nationwide stores owned by NS is estimated to be around 50 bill
July 1, 2012
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LG Uplus vows to lead LTE technology in Korea
LG Uplus said Sunday that it would introduce five exclusive Long Term Evolution network services this year.The country’s third-largest mobile carrier said it would provide high-definition voice services as well as upgraded cloud services as the second part of its project to expand fourth generation network provision.“What defines LTE service is that it will be faster and the network will enable us to enjoy various media services, as well as offering a platform for all Internet-based services,” t
July 1, 2012
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Coffee chain sales grow by 28%
Sales at popular coffee chains increased by 28 percent last year. The nation’s top six coffee franchises ― Starbucks, Caffe Bene, Coffee Bean & Tea Leaf, Tom n Toms, Hollys and Coffine Gurunaru ― recorded total sales of 743.3 billion won ($651.1 million) in 2011, according to Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System. In 2010, they brought in 580.7 billion won. Starbucks topped the market, recording 298.2 billion won in sales. During the last decade, the coffee
July 1, 2012
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Sejong City boosts area’s land prices
The following is the third in a series of articles on Sejong City, a new multifunctional administrative city that was launched on July 1. ― Ed.The Lee Myung-bak government had sought to build a new business hub in Sejong City, South Chungcheong Province, as an alternative to an administrative city plan.Though its idea of creating a business-oriented city instead of an administrative city reinvigorated the region’s property market in early 2010, the National Assembly voted down President Lee’s pr
July 1, 2012
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Dress code spawns efficiency
POSCO employee Woo Ji-hoon sometimes goes to work wearing jeans and a T-shirt these days. “It depends on the department (in our company), but the overall policy is to dress freely. Unless you are not wearing sandals and shorts, in the case of men, most outfits are allowed,” he said. Now every day is a “casual day” for workers at POSCO as the nation’s largest steelmaker made an official announcement last month that employees are allowed to wear business casuals in the office. The company had desi
June 29, 2012
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Korean exporters’ Q3 outlook remains cold
A majority of South Korean companies see business conditions for their exports will continue to stagnate in the third quarter of the year mainly due to global economic uncertainties triggered by the European debt crisis, a poll showed Friday.The export business survey index came in at 87.5 for the July-September period, the lowest level in 13 quarters since it hit 66.1 in the second quarter of 2009, according to the poll of 964 companies by the Korea International Trade Association.The latest nu
June 29, 2012
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Samsung Display to relaunch as world’s biggest display maker
Samsung Display is poised to become one of the world’s largest display makers, following a trilateral merger among the company, Samsung Mobile Display and S-LCD Corp. Its parent Samsung Group said that the merger, first approved in April by its board of directors, will see the creation of a new company specializing in display technologies, including LCDs and OLEDs. The merged entity will officially launch on July 1. According to company executives, this new corporate body will operate under the
June 29, 2012
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Kia’s 3rd China plant to produce tailored cars
Hyundai-Kia chief Chung vows to gain confidence via vehicle quality-oriented salesKia Motors broke ground at its new third plant in an eastern coastal province of China on Friday, aiming at doubling the company’s production capacity in the world’s largest automotive market.On the extension of Kia’s localization strategy, the new factory will be in charge of manufacturing Chinese consumer-oriented sedans to fully reflect customers’ needs, company spokespeople said Friday. Korea’s second-largest a
June 29, 2012
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SK Hynix opens new manufacturing line
SK Hynix said Friday that it has completed construction on a new manufacturing line in Cheongju, North Chungcheong Province, pledging to turn its memory chip manufacturing factory into a key global production base.The manufacturing line named “M12” will be an addition to the already-existing M8 and M11 within the plant and it is planned to produce NAND Flash and dynamic random access memory chips, SK Hynix officials said during a celebratory event. Although the M12 was mainly built to make NAND
June 29, 2012
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Cheil Industries, YG Entertainmentb to ride Korean fashion wave together
Samsung affiliate Cheil Industries and YG Entertainment are set to target the global fashion market with the launch of a new, “total lifestyle” Korean brand.Cheil Industries said Thursday that it has entered into an agreement with YG Entertainment, one of Korea’s leading record labels and talent agencies, to develop a new brand for the global teens and 20s market. According to company officials, the new brand, whose name has yet to be decided, will be launched some time in the spring of 2013, an
June 28, 2012
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Business leaders call for deregulation
Korean conglomerates brace for tough times in second half of yearChiefs of the nation’s major business groups called on the government to put more efforts into revitalizing the economy through deregulations at a meeting in Seoul on Thursday.Seoul members of the Korea Chamber of Commerce and Industry shared the view that “the corporate sentiment has been worsening since the second half of 2010 and exports are in a declining mode.”The participants including KCCI chairman Sohn Kyung-shik expressed
June 28, 2012
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Korean technology firms to use Olympics to promote products
Korea’s representative technology firms such as Samsung and LG Electronics are eager to use the upcoming London Olympics opening on July 27 as a chance to showcase their tech prowess.LG Electronics said Thursday that it will provide a live broadcast as well as the highlights of the Summer Olympic Games throughout the event when consumers of its Cinema 3-D Smart televisions get connected through a TV app. The London Olympics ends on Aug. 12.“Not only will people be able to see the Games live in 3
June 28, 2012
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KB’s GOLD&WISE remains leader in private banking
KB Kookmin Bank’s private banking brand GOLD&WISE has been a market leader ever since it was launched 10 years ago based on the principles of trust, professionalism and the clients’ interest.With the nation’s largest private banking sales network and client base, GOLD&WISE has shown exceptional private banking products, risk management systems, private banking expertise and advisory and marketing service. Using the vast network of KB Financial Group, it has strengthened product support, expanded
June 28, 2012
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Samsung’s Galaxy S2 readies for 30m sales mark
Samsung Electronics’ Galaxy S2, which served as its flagship smartphone until the release of Galaxy S3, is getting ready to hit the 30-million mark in total sales worldwide.The world’s top smartphone maker said recently that it sold more than 28 million units of the Galaxy S2, surpassing its former model Galaxy S’ 24 million units.“The two figures put together ― about 50 million units ― is twice the size of last year’s smartphone market in the country,” said a Samsung official.Since rolling out
June 28, 2012
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Hybrid car sales remain sluggish despite price cut
Hyundai Motor has continued to post lethargic sales of fuel-efficient cars including the Avante and Sonata hybrids.The automaker’s monthly sales of the Avante hybrid dropped to 118 units on average in May despite a price cut, while the average monthly figure stood at 175 units throughout 2011.Monthly sales of the Sonata hybrid have also fallen to 969 units, compared to the average figure of 1,027 units last year.Though Hyundai Motor has actively been promoting the hybrid models since the first h
June 27, 2012
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Iran import ban may hit about 600 firms
Government maps out contingency plan to contain fallout from possible embargoAbout 600 Korean companies may face financial difficulties if Iran halts all Korean imports in protest of Seoul’s decision to ban Iranian oil following European Union sanctions, analysts said Wednesday.The Iranian Embassy to Seoul has said the country may stop Korean imports if Seoul imposes the import ban on Iranian oil.If Iran implements the ban, Korea’s small and mid-sized enterprises trading with the country could b
June 27, 2012
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Samsung weighs legal options on U.S. Galaxy Tab ban
U.S. court blocks sales of Samsung’s flagship tablet PCSamsung Electronics said Wednesday that it will take legal action against a U.S. court’s decision to immediately block the U.S. sales of the firm’s flagship tablet PC Galaxy Tab 10.1, taking Apple’s side on patent infringement.“We regret the fact that our statement wasn’t accepted in this ruling but given that we already have a diverse product lineup, we’re confident that it will have a limited impact in our U.S. sales,” a Samsung spokespers
June 27, 2012
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Global PC sales may fall up to 10 percent in Q3: report
Global sales of personal computers (PCs) may drop as much as 10 percent in the third quarter from a year earlier due to weakening demand, according to a Forbes report known in Seoul on Wednesday.PC sales could fall around 5-10 percent in the July-September period from the previous year as PC giants such as Dell and Hewlett-Packard continue to suffer softening demand, according to a recent Forbes r
June 27, 2012