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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Kang takes office as chief of management institute
Kang Shin-jang, former executive at Samsung Economic Research Institute, took office as co-chairman of the Institute of Global Management, an institute dedicated to management research and executive-level education.Kang is a renowned expert in the fields of knowledge management and creative management who created SERI CEO, a knowledge and information providing service for chief executive officers.He also introduced liberal arts, culture and fine arts courses for CEOs that combine business manage
April 24, 2012
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World Steel Association meets in Seoul
Four Korean member companies of the World Steel Association ― POSCO, Hyundai Steel, Dongkuk Steel Mill and Dongbu Steel ― are jointly hosting the association’s key meetings in Seoul to discuss the pending issues of the global steel industry.Some 100 top executives from about 40 steelmakers in 20 countries including Xiaogang Zhang, president of China’s Anshan Iron & Steel Group Corporation, attended the meeting of Worldsteel’s executive committee on Monday. They also plan to open a meeting of boa
April 23, 2012
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Samsung inheritance spat worsens
The inheritance suit surrounding Samsung chairman Lee Kun-hee and his siblings is intensifying with elder brother Lee Maeng-hee claiming on Monday that his younger brother’s greed triggered the fight.Lee Maeng-hee, the eldest of Samsung founder Lee Byung-chull’s children, said that Samsung chief Lee Kun-hee was the one at the center of family discord and that his inheritance was not about Samsung.“It is my goal to correct the wrongdoings by getting the facts right and I believe the truth will be
April 23, 2012
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U.N. aviation agency meeting to open in Korea
Some 20 government officials and 150 aviation experts from the Asia-Pacific region will gather on Tuesday on Jeju Island to discuss next-generation air transportation systems, the Transportation Ministry said Monday.The four-day meeting of the International Civil Aviation Organization, the United Nations’ agency that specializes in aviation, will focus on automatic dependent surveillance-broadcast, or ADS-B. The new surveillance technology has emerged as a primary replacement for radar in tracki
April 23, 2012
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Hyundai Heavy expands fund to support suppliers
Hyundai Heavy Industries Co. and its two affiliated shipbuilders agreed to expand their fund to support small partner companies to 300 billion won ($263 million) as part of efforts to seek shared growth.Hyundai Heavy, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. inked a deal with the Industrial Bank of Korea on Monday to offer loans at lower-than-market interests to their suppliers.First and second-tier suppliers of Hyundai Heavy Industries Group will be able to take out loan
April 23, 2012
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Latest versions of Blade and Soul, Diablo 3 coming in weeks
Two blockbuster online games ― “Blade and Soul” and “Diablo 3” ― are coming to Seoul in the first half of this year, with both of them scheduled to go through closed beta testing Wednesday.Blizzard Entertainment Korea announced Monday that it would begin its closed beta testing of its latest version of the popular action role-playing online game “Diablo 3” on April 25. Game director Jay Wilson will also hold a press conference at a hotel in southern Seoul Tuesday.The company plans to unveil the
April 23, 2012
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Asian science parks to be discussed on Jeju
About 230 delegates from nine member countries of the Asia Science Park Association gathered on Jeju Island this week to discuss the future of high-tech science parks in Asia.The Jeju Free International City Development Center is hosting the “ASPA Leaders Meeting” at Jeju Science Park from Monday through Wednesday. ASPA is an international organization established in 1997 to help revitalize Asian economies through cooperation among Asian high-tech science parks. This year, participants will exch
April 23, 2012
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French golf tournament this week
The French Chamber of Commerce and Industry will hold an amateur golf event on April 27 aimed at improving the relationship of the two countries.The French-Korean Golf Tournament plans to increase awareness of the French brand, “Rendez-vous en France.”The tournament is co-hosted by the France Tourism Development Agency and the Chamber.The event at the Jack Nicklaus Golf Club will also offer the opportunity to network with sponsors, partners and prospective clients in one of the most prestigious
April 23, 2012
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Austcham organizes trip to Yeosu
The Australian Chamber of Commerce is organizing a trip to the Yeosu Expo on May 27 to celebrate Australia National day at the fair.The 2012 Yeosu World Expo will be held May 12-Aug. 12 in Yeosu, South Jeolla Province. The Australian event will feature an official welcoming and a concert headlined by Australian performer Jessica Mauboy. To coincide with the function, Austcham and Austrade will lead a mission of up to 20 chamber members and 20 Korean guests to the Expo to join in the Australia da
April 23, 2012
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Costco criticizes retailer restrictions
Warehouse giant makes success story in KoreaThe giant warehouse Costco Korea chief has criticized the country’s new regulation forcing large retailers to close one or two days a month or to cut operating hours, contending that the measure will not help small merchants. “This will hurt the very people they are trying to help,” Costco country manager Preston Draper told The Korea Herald last week.“We disagree with (the new regulation) because we fundamentally supply products to the small merchants
April 23, 2012
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Light bulb with 20-year life unveiled in US on Earth Day
A prize-winning, super-energy-saving LED bulb from Dutch electronics giant Philips said to last over 20 years went on sale Sunday to coincide with Earth Day.The bulb that won the US Department of Energy's "Bright Tomorrow Lighting Prize" was available from retailers for $50, down from an initial $60 price tag. The company said it was planning discounts to bring the cost down to as little as $25.Th
April 23, 2012
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Korean food gets ‘C’ in test of public opinion
Korean food has been graded “C” among international cuisine, despite the government’s efforts to promote its cuisine worldwide, according to the Ministry for Food, Agriculture, Forestry and Fisheries on Sunday.Citing a survey of 593 people in five countries on 12 national foods, Korean food got only 73.2 points out of 100 in terms of taste, look, price and service. It ranked seventh in the ministry’s global food index, followed by Turkey, Malaysia and Vietnam.Italian and Japanese dishes were the
April 22, 2012
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SMEC develops remote control software
SMEC Co., a Korean machinery and robot developer, said Sunday it had developed an application for mobile devices to operate its products by remote control.The Moricon allows engineers to reset or turn on and off computer numerical control tools and other machines and check their status in real time using their smartphones or tablet computers outside the factory, the company said. The Daejeon-based firm unveiled the application at the Seoul International Machine Tool Show 2012 on April 17-22, a t
April 22, 2012
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100 large stores closed Sunday under new law
More than 100 supermarkets closed on Sunday in accordance with a new law aimed at protecting small retailers, according to media reports.E-Mart, Korea’s biggest supermarket chain and part of Shinsegae Group, closed 44 of its 137 retail stores nationwide, while Homeplus, part of British retailer Tesco, shut 44 stores. Lotte Group’s Lotte Mart, meanwhile, closed 30 of its chains.The number of stores closed on Sunday accounts for 32 percent of the total owned by the big three conglomerates.Some sma
April 22, 2012
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U.S. beef exporters bullish on Korean market
American beef beat Australian beef in import volume in first quarterFour years have passed since the mass protests against U.S. beef imports swept the country over fear of mad cow disease.American beef has now regained its spot as the most popular foreign beef in Korea with an import market share of 44.2 percent, eclipsing Australian beef (42.9 percent) in the first three months of this year. “We are now past the concern of safety,” Philip Seng, chief executive of the U.S. Meat Export Federation
April 22, 2012
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International passenger traffic hits fresh high in Q1
International passenger traffic in and out of Korea reached an all-time high in the first quarter as air travel demand picked up during national and school holidays, a government report showed Sunday. The number of passengers on overseas routes shot up 12.3 percent in the first three months to nearly 11.4 million, setting a fresh record, according to the Ministry of Land, Transport and Maritime Affairs. Domestic air passenger traffic also leapt 11.6 percent year-on-year to more than 4.9 million
April 22, 2012
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SK Biopharm, Hanmi sign deal to sell epilepsy drug
SK Biopharmaceuticals Co. said Sunday it established a strategic partnership with Hanmi Pharm Co. to sell a nasal spray-type epilepsy drug in Korea and China.Hanmi and its Chinese arm will get the approval for sales and handle marketing in Korea and China, under the partnership. The diazepam nasal spray quickly transfers the diazepam substance to the brain through the mucous membranes inside the nasal cavity, allowing swift treatment, according to SK Biopharm.The pharmaceutical company expects t
April 22, 2012
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LG chief pushes R&D recruitment drive
LG Group chairman Koo Bon-moo added weight to the conglomerate’s search for top-notch research and development staff by attending a conference in San Francisco to which graduate students were invited. Eight affiliates of LG Group jointly hosted the LG Techno Conference on Saturday in which chief executives, chief technology officers and chief human resources officers gave presentations on their companies’ technological innovation and plans to foster R&D talent to about 300 students in master’s a
April 22, 2012
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Hankook Tire mulls holding company
Hankook Tire is looking to spin off into a holding company and a tire business-focused entity, according to a regulatory filing and media reports.The holding company is likely to be a non-tire entity that will focus on venturing into new business areas, market watchers speculated.The listed Korean tire giant filed a disclosure on the Korea Exchange on Friday, saying that it was considering a spin-off, but that nothing had been decided. Its statement continued that the company will re-file a disc
April 22, 2012
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Corporate hiring to slow this year: poll
South Korea’s corporate hiring is expected to grow at a slower pace in 2012 compared to the year before, mainly due to concerns of sluggish economic growth, a poll by a local business federation showed Sunday. The nationwide poll carried out on 508 companies by the Korea Employers Federation showed annual hiring is expected to rise 3.3 percent, down from a gain of 3.7 percent tallied for last year.It said large companies with over 1,000 employees plan to increase hiring by 3.7 percent this year,
April 22, 2012