Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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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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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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LG smart TVs receive high praise abroad
LG Electronics Co.’s latest Cinema 3-D Smart TVs are getting favorable reviews from influential IT media abroad.CNET Asia, the largest tech media website in Asia and Oceania, selected the LG 55LM960, the premium line of the 55-inch Cinema 3-D Smart TV, as its editor’s choice, calling it a “solid all-rounder featuring a sleek design along with most of the latest bells and whistles such as WiDi and gesture control.”CNET Asia gets about 1.6 million visitors and 4.6 million page views each month.“Th
April 27, 2012
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SK chief Chey encourages workers to create ‘legend’
SK Group chairman Chey Tae-won has sent words of encouragement to the group’s subsidiaries ― SK Telecom, SK Planet and SK Hynix.In a letter posted on SK Telecom’s bulletin this week Chey told his executives and employees that he is proud of the No. 1 mobile operator’s successes, such as the spin-off of the telecom’s mobile platform unit ― SK Planet ― and the takeover of Hynix Semiconductor, Korea’s second-largest chip maker.He then urged SK Planet not to be afraid of challenging itself and creat
April 26, 2012
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KT joins bid for Woongjin Coway
KT Corp. said Thursday the company was considering acquiring Woongjin Coway, the nation’s largest water purifier manufacturer up for sale since February. “We are considering possible acquisition of stakes at Woongjin Coway but nothing has yet been decided,” the nation’s second-largest telecom carrier said in response to an inquiry from the Korea Exchange on the day. “Within one month or when any details are finalized, we will make a new announcement.” According to industry sources, KT had receiv
April 26, 2012
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Chinese prefer Dongdaemun, Japanese favor Namdaemun: poll
A recent survey found Thursday that Chinese travelers pick the Dongdaemun area as their favorite shopping destination in Seoul, while Japanese prefer Namdaemun traditional market. The Korea Chamber of Commerce and Industry surveyed 200 Chinese and Japanese travelers here on their shopping preferences while in Korea.The business lobby said that their favorite shopping areas also determined which the items they purchased.Chinese people, due to the Korean Wave in their country, favored the latest f
April 26, 2012
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Smart work saves KT 26 man years
KT Corp. said Thursday that the company has saved 26 years of time over the past year thanks to its smart work program that started last April. The nation’s second-largest telecom carrier also held a conference celebrating the first anniversary of the program, pledging to expand its smart work initiative to other firms. Since last year, KT has encouraged its 20,000 employees to work at home or “smart-working” centers located near their residential areas. Currently, some 4,000 people are working
April 26, 2012
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SK Hynix to produce controller chip for NAND Flash by 2014
World’s No.2 DRAM chipmaker takes cautious stance on acquisition of ElpidaSK Hynix said Thursday that it is currently developing its own controller chip for NAND Flash memory, widely used in smartphones and tablet PCs, and plans to have it ready for production by 2014.Park Sung-wook, head of research and development at the firm, said it is making its own controller chip to apply it to next generation NAND Flash solutions during its quarterly earnings conference.He also said that the company is e
April 26, 2012
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‘LG Innotek did not breach Osram patent’
Trade commission says tech firm did not infringe on property rights related to LEDsThe Korea Trade Commission said Thursday that LG Innotek did not infringe the patent rights of Osram light-emitting diode package manufacturing.Following its inspection of seven different LED packages, the commission under the Ministry of Knowledge Economy decided that the inspected items of LG Innotek did not infringe the Munich-based firm’s intellectual property, including the white convergence technology.“We be
April 26, 2012
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KOGAS secures stable LNG supply from United States
Korea Gas Corporation will start importing 3.5 million tons of U.S. liquefied natural gas each year from 2017 for 20 years.Sabine Pass LNG, which signed the long-term deal to export LNG to KOGAS in January, received authorization from the U.S. Federal Energy Regulatory Commission to construct and operate facilities for the liquefaction and export of natural gas.The approval allows Sabine Pass LNG to produce and export 16 million tons of LNG annually from the Sabine Pass LNG terminal in Cameron P
April 26, 2012
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Measures aim at traffic jams, hotel overpricing during Expo
The government said Wednesday it plans to accelerate its ongoing highway expansion work and raise the number of trains, buses and flights connecting to the Expo 2012 Yeosu to facilitate visitors’ access and minimize traffic jams. A pan-governmental task force will also be set up to clamp down on hotels and other lodging facilities that overcharge and refuse bookings, taking advantage of local and international guests in the hopes of a cash bonanza. The measures come less than three weeks before
April 25, 2012
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Hyundai Heavy develops new solar cells
Hyundai Heavy Industries said Wednesday it has developed selective-emitter solar cells with a record electricity conversion efficiency of 19.7 percent, which could curtail production costs for the fast-growing energy source.The figure beat the previous record of 19.6 percent by Suntech Power Holdings, the world’s largest maker of photovoltaic panels based in Shanghai. It has also been confirmed by the Fraunhofer Institute for Solar Energy Systems, a leading think tank in Munich, the Korean shipb
April 25, 2012
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LG Electronics swings back to profit in Q1
CFO says company is developing proprietary mobile application processorLG Electronics said it reached 448.2 billion won ($392.7 million) in operating profit for the first quarter, up 243 percent from the same period last year, boosted by its sales of premium goods. The local electronics giant’s operating profit is also more than 18 times the 23 billion won recorded in the fourth quarter of last year, according to its company officials.The firm, however, posted about 12.22 trillion won in total
April 25, 2012
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Korean builders eye $11.1b energy projects in Venezuela
Daewoo, STX, SK, Hyundai firms sign MOUs on major construction projectsKorean companies have inked preliminary deals with Venezuela to participate in energy infrastructure businesses worth a total of $11.1 billion in the South American country, the Ministry of Knowledge Economy said Wednesday.Seoul and Caracas also reached a framework agreement to have Korea Gas Corporation take part in a $10.4 billion project to develop liquefied natural gas fields in Venezuela.Venezuela has the world’s second
April 25, 2012
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Amore opens first Innisfree store in Shanghai
Amore Pacific, the nation’s biggest beauty company, said Wednesday it opened the first flagship store of its low-cost cosmetics brand Innisfree in downtown Shanghai. With the new launch, the company said it will step up efforts to expand its presence in China where a new beauty trend based on natural ingredients has gained popularity in recent years. According to the company, some cosmetics products of Innisfree are made of natural ingredients grown on Jeju Island, the nation’s southernmost reso
April 25, 2012
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LG Display loss widens in 1st quarter
LG Display said Tuesday it posted 6.18 trillion won ($5.41 billion) in sales and 178.2 billion won in operating losses for the first quarter, recording a bigger loss due to decreased shipments stemming from low demand and new product development.In its quarterly regulatory filing, the company said its operating loss widened from 145 billion won in the final quarter of last year, while its quarterly net loss reached 129.2 billion won from January-March.The firm’s total sales figure also went down
April 24, 2012
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POSCO to showcase green tech, environmental efforts at Expo
YEOSU, South Jeolla Province ― POSCO on Tuesday unveiled the first glimpse of its pavilion at the forthcoming Expo 2012 Yeosu that highlights the steelmaker’s efforts to spearhead green technology and shore up ecosystem dynamics. Under the theme “Living Ocean and Coast,” 106 countries and nine international organizations will showcase their diverse marine development and advancement of oceanic technology on the southern shore of the Korean Peninsula starting May 12.The world’s fourth-largest ste
April 24, 2012
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LG labor union takes its social responsibility efforts abroad
LG Electronics said Tuesday that it hopes to lead global labor-management culture by emphasizing the social responsibility of labor unions. As part of its efforts, a group of union leaders at the company’s Indonesian branch visited Korea for six days, company officials said. Korea is a country where the labor-management relationship has long been hostile, sometimes resulting in physical conflicts. The labor union for LG was the first to claim “union social responsibility” in 2010, with the goal
April 24, 2012
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Shared growth panel names Yoo as new chief
The Commission on Shared Growth for Large and Small Companies said Tuesday that Yoo Jang-hee, professor emeritus at Ewha Womans University, would be its new chairman.“We have agreed to name Yoo as the next chairman after consultations with business organizations and related institutions,” the panel said.The Federation of Korean Industries and the Korea Chamber of Commerce and Industry welcomed the nomination. Yoo will officially begin work late this month to bridge the gap between large and smal
April 24, 2012
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Doosan's new chairman focuses on "caring" meritocracy
When Park Yong-maan took office as the new chairman of Doosan Group early this month, he vowed to establish a strong corporate culture this year and stressed the need for a "caring meritocracy."“Doosan has a history of 116 years, but most of our staff have used their Doosan business cards for less than 10 years. And about half of our 39,000 employees around the world are foreigners,” Park said in a press conference in early April.“We need a strong corporate culture and philosophy to unite the pe
April 24, 2012
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Key factors required for successful development of shopping malls
Recently, Korea’s retail giants have been announcing plans to develop shopping malls. Retail professionals view this as a result of changes in shopping trends, the adoption of international shopping culture and increased leisure time. But how have local shopping malls been developed so fast in terms of the needs of developers and tenants?Low commission rates and brand identityShopping malls embrace not only global specialist private-label apparel, or SPA, stores but also brands that failed to se
April 24, 2012
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Korean multinationals lure global talent
Samsung, LG, POSCO, Lotte seek bilingual, ambitious employees who understand Local cultureA surging number of Korean corporations are dipping into the global labor pool in efforts to expedite their overseas operations and better reflect localized needs. With their business fast expanding in emerging markets, LG, POSCO, Samsung and other gone-global firms are courting young and experienced talent overseas who are bilingual, ambitious and competent, and have an understanding of the industry and K
April 24, 2012