Most Popular
-
1
Korea added to key bond index
-
2
South Korean author Han Kang wins 2024 Nobel Prize in literature
-
3
North Korea notifies UN Command of plans to fortify border with South
-
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
-
Nexon fined 771 million won for passing on users’ private info
The Korea Communications Commission on Thursday fined Nexon Korea 771 million won ($660,880) for passing on private user information to a client firm without users’ consent.The state media regulator agreed in a committee’s general meeting that the country’s biggest game firm pay the amount for not obtaining users’ permission in providing its short message service with Mobilians from 2006-2010.“During the five years, it has been discovered that the company did not get the permission from owners o
June 14, 2012
-
KEPCO promises ‘perfect’ nuclear plants in UAE
Korea’s power giant to hold support rally for nuclear power plant deal with the Middle Eastern countryThe nation’s state-run energy supplier Korea Electric Power Corp. will hold a resolution rally at its Seoul headquarters Friday, vowing for the safety, quality and integrity of its ongoing nuclear power plant deal with the United Arab Emirates.About 500 executives and staff from KEPCO, Doosan Heavy Industries and Construction Co., Hyundai Engineering and Construction Co., Samsung C&T Corp. and o
June 14, 2012
-
Construction begins on Saemangeum sea port
South Korea on Thursday started construction of an international sea port on the massive plot of reclaimed land on the southwest coast that could help fuel regional growth, the government said.Once completed in 2030, the new Saemangeum port located 280 kilometers south of Seoul, will be able to handle 17.29 million tons of freight per year and have pier facilities to berth 18 ships simultaneously,
June 14, 2012
-
Ssangyong to support workers on unpaid leave
Ssangyong Motor’s labor and management have reached an agreement on offering several benefits to unpaid workers in their leaves of absence, the company said Tuesday.As key support for the employees on unpaid leave, the automaker will provide them with school expenses for their children, according to Ssangyong.The company will also offer 150 shares, issued by the company, per unpaid worker.In addition, the unpaid employees will be given some gifts during the nation’s traditional holidays such as
June 13, 2012
-
Samsung to hire more people from regional universities
Samsung Group said Wednesday that it will hire up to 35 percent of its new recruits from regional universities from the second half of this year.The country’s largest conglomerate also said it will introduce a 5 percent quota for applicants from low-income and underprivileged families at the same time.“The group plans on expanding the portion of new hires from universities located outside of Seoul to 35 percent from the current 25-27 percent range during the regular recruiting session in the sec
June 13, 2012
-
Builders lead 2nd Middle East boom
Korea’s aggregate construction exports exceed $500 billion markKorean builders have secured a combined $500 billion in overseas construction orders as of Wednesday, indicating the beginning of the “second Middle East boom.”Since Korea started overseas construction in 1965, the accumulated orders have exceeded $501.3 billion, the Ministry of Land, Transport and Maritime Affairs said Wednesday. “It’s a milestone at a time of difficulties globally,” Land Minister Kwon Do-youp told reporters, saying
June 13, 2012
-
Coupang aims for NASDAQ listing as early as 1st half of 2013
Local social commerce firm Coupang’s chief executive said Wednesday that the firm will be listed on the U.S. stock market as early as the first half of next year.“We aim to be listed on the NASDAQ market as early as the first half and by the end of next year at least, but we will look for the right timing,” CEO Kim Bom-suk said.“We raised yearly sales of 600-700 billion won in 22 months and this is not a common situation even in the U.S. It shows the potential for the Korean market,” said Kim.Th
June 13, 2012
-
SK Hynix establishes research center in Italy
Chipmaker moves to strengthen its competitiveness in NAND Flash projectsSK Hynix announced Tuesday that it established a research and development center in Italy by acquiring Italian NAND Flash developer Ideaflash for next-generation memory chips.The company also said it appointed Carla Golla, the former chief executive of Ideaflash, as the CEO of the new center called “SK Hynix Italy S.r.l” and held the opening ceremony on Monday.Idealflash, a firm composed of 50 R&D experts with at least 12
June 12, 2012
-
Hyundai-Kia aims to outdo GM in China
Group to see production capacity grow by 26% in next few weeksHyundai Motor Group is speeding up its mid-term project to overtake General Motors in vehicle sales in China by expanding its manufacturing capacity.Though Volkswagen maintains the No. 1 position in the Chinese market, the sales gap between GM and Hyundai Motor-Kia Motors has narrowed.Last year, GM ranked second with vehicle sales of 1.32 million units and Hyundai-Kia ranked third with 1.17 million units. Volkswagen saw its 2011 sal
June 12, 2012
-
Competition intensifies in coffee mix market
Namyang seeks to challenge Dongsuh by building nation’s largest factoryA three-way battle is foreseen in the domestic market for individually packaged instant coffee mix products, which has so far been dominated by Dongsuh Foods’ Maxim brand.Korea’s annual demand for the three-in-one coffee mix sachets that contain powdered coffee, powdered cream and sugar for a single serving is estimated at 1.2 trillion won ($1 billion), or more than a third of the coffee market. The coffee mix business is att
June 12, 2012
-
[Photo] 3-D Home theater
A model features LG Electronics’ real 3-D sound home theater system with its Cinema 3-D smart television at its office in Yeouido on Monday.(LG Electronics)
June 12, 2012
-
Samsung, Hyundai unveil plans for profit sharing
Forty-five of the nation’s major companies agreed Monday to carry out certain projects jointly with their parts suppliers and share the excess profits beyond their targets with them, the Ministry of Knowledge Economy said.Large companies, including Samsung Electronics, Hyundai Motor, SK Telecom and LG Electronics, said they would work together with their 654 parts suppliers on 1,073 projects in the next year. With the new voluntary agreement, the number of smaller firms benefiting jumps 8.7-fold
June 11, 2012
-
VoiceTalk to hurt credit ratings of SKT, KT: Moody’s
Moody’s Investors Service predicted Monday that KakaoTalk operator’s launch of a free phone-call service will negatively affect the credit ratings of the nation’s two major telecommunication operators.“The launch of VoiceTalk is credit negative for our rated Korean telecommunication operators, SK Telecom (SKT, A3 negative) and KT (A3 negative),” the global rating firm said in a statement.Its view comes a week after Kakao, the Korean operator of popular multi-platform texting application KakaoTal
June 11, 2012
-
Nexon to solidify position on NCsoft stock buy
Nexon’s move to position itself as country’s top online game firm bewilders investorsNexon has officially concreted its position as the country’s top game firm following its announcement that it took over nearly 15 percent of NCsoft’s shares last Friday.Nexon said it has acquired about 3.21 million of NCsoft’s shares for 250,000 won ($214.39) per share from the firm’s chief executive Kim Taek-jin on the same day.The move indicates that Nexon has paid up to 804.5 billion won for 14.7 percent of N
June 11, 2012
-
SK creates W100b fund to support suppliers
SK Group said Monday that it has created a 100 billion won ($85 million) private equity fund promoting shared growth with smaller partner companies. Unlike the group’s existing loans for suppliers, the new scheme is aimed at investing directly into competitive firms that are financial struggling, SK said. The group said that it has received funding from Korea Finance Corporation, KDB Capital, SK Securities, SK Telecom and SK Global Chemical to set up the new private equity firm.The fund, aimed a
June 11, 2012
-
Woman found making meth in Walmart store
A Missouri woman was caught making meth in her purse inside of a Walmart store, police said.The woman and a man were pulled aside by store security who discovered that the woman was making methamphetamine in her purse, KMOX-TV, St. Louis, reported.The store was evacuated out of fear for customers' safety.St. Louis County Police Lt. Mark Cox said if the meth concoction leaked or spilled, fumes coul
June 11, 2012
-
Korea seeks to nationalize rail stations
The government split up the rail sector’s management of infrastructure and transport services in 2005, judging that a single national railway firm would not be able to meet the demand for better products. Under the reform, the Transportation Ministry put about 80 percent of Korea’s railway stations under the ownership of state-run Korea Railroad Corp., which also operates railway services, as a form of investment-in-kind.About seven years on, the ministry is seeking to retrieve that ownership, s
June 10, 2012
-
More discount stores close on Sunday
The largest-ever number of Korean discount mega-retailers and mid-sized grocery chains shut their doors on Sunday as part of the nation’s new policy to help small, individually owned marts.Over 70 percent of such large marts throughout the nation took forced days off on the second Sunday of June. A total of 98 out of 143 E-Mart stores nationwide, 104 out of 129 Home Plus stores and 304 of 430 Lotte Marts were closed. For the three leading discount chains, about 72.5 percent of their stores natio
June 10, 2012
-
Imported whisky prices rise despite EU FTA
Antitrust regulator considers probe into alleged price-fixingRetail prices of imported whisky from Europe have not dropped but climbed in the local market despite the Korea-EU Free Trade Agreement which took effect in July 1, 2011, according to the antitrust regulator.The Fair Trade Commission said Sunday that import prices of European-made whisky products rose by 1.41 percent during the first quarter of 2012, compared to the same period last year.Among the products whose import prices surpassed
June 10, 2012
-
Card firms’ delinquency rate rises in first quarter
South Korean credit card companies saw their default rates increase in the first quarter from three months earlier amid falling earnings, the financial regulator said Sunday.The average delinquency rate of seven credit card companies reached 2.09 percent as of the end of March, up 0.18 percentage point from the end of last year, according to the Financial Supervisory Service.The watchdog said the rate rose due to an increase in fresh defaults, which was related to clear signs of the country’s ec
June 10, 2012