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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Las Vegas Sands opens new casino resort in Macau
MACAU ― Las Vegas Sands Corp., the world’s largest casino operator, opened its fourth gaming resort complex in Macau on Wednesday as part of its project to create a “Little Las Vegas” in Asia.The $4.4 billion luxury hotel-cum-gaming property, the Sands Cotai Central, is designed to accommodate affluent international travelers and China’s increasingly sophisticated guests, the Las Vegas-based company said. The new resort is operated by its majority-held subsidiary Sands China.Sands group chairman
April 11, 2012
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How to protect personal data on devices
Thinking of selling or giving away your smartphone or laptop computer? If you have a BlackBerry or an iPhone, go right ahead. But if you have an Android phone or a computer running Windows XP, you may want to hold off.It turns out that it’s almost impossible to get rid of personal information from some devices, even if you follow the manufacturer’s directions for wiping the device clean.Robert Siciliano, identity theft expert for the technology security firm McAfee, found this out in an experime
April 11, 2012
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SKT to hire interns based on SNS skills
SK Telecom said Tuesday that it will hire interns based on their ability to use social networking services without considering their grades, English ability or other specifications. The whole process of selection, except the final interview, will be disclosed through SNS to be shared with Internet users ― an unprecedented attempt among Korean companies, the nation’s largest telecom carrier said. Applicants, after submitting applications through the company’s Facebook account, are to participate
April 10, 2012
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Social commerce services fined for poor data control
The nation’s Internet watchdog said Tuesday that it has imposed fines and penalties on eight social commerce services, including the three biggest ― Ticket Monster, Coupang and Groupon Korea ― for negligent control of user information. The Korea Communications Commission, which surveyed 13 daily deal services, found that eight companies have violated the data protection law by collecting user data without proper consent process or transferring the information to others for commercial use. “In so
April 10, 2012
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LG CNS to hold IT conference on big data analysis
LG CNS said Tuesday that it will hold an information technology conference that focuses on the upcoming big data era in southern Seoul next Thursday.The conference, dubbed Entrue World 2012, will be themed “New frontier of the smart world: Advanced analytics,” and will present ways to analyze and utilize the massive amount of stacked data on the Web.The event takes place as more data can be found online due to the country’s developing digital infrastructure and the rising number of people owning
April 10, 2012
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Cosmetics: High-tech meets emotion
There is no stopping the Korean cosmetics market. The value of the cosmetics market grew to 8.9 trillion won ($7.9 billion) in 2011 from 5.6 trillion won in 2006, an annual average increase of 10.4 percent. Even when the economy came to a near-standstill with GDP growing 0.3 percent in 2009 in the wake of the global financial crisis, the domestic cosmetics market grew 11.8 percent, proving itself to be recession-resistant.The rapid growth derives from new dynamics in the cosmetics industry. Risi
April 10, 2012
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New DSME chief to chair industry body
Daewoo Shipbuilding & Marine Engineering’s new chief executive Ko Jae-ho has been named to head the Korean Shipbuilders’ Association, the trade body said Monday.Ko, 57, will take over the remaining term of Nam Sang-tae, the association’s former chairman who resigned after his two terms ended at DSME, until March 18, 2013. Ko took office at the world’s second-largest shipbuilder last week.The organization’s presidency rotates through its nine members, also including Hyundai Heavy Industries, STX
April 10, 2012
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Windsor sales spike ahead of price hike
Diageo Korea saw a leap in sales of its flagship whiskies last month as wholesalers rushed to boost their stockpiles prior to a price increase, industry figures showed Monday.The shipment volume of Windsor topped 1.1 billion liters in March, up almost 40 percent from the combined volume in the preceding two months. The product is the top-selling whisky in the domestic market. Johnnie Walker Black, another whisky distributed by the Korean unit of the London-based drinks group, also saw an 11.6 pe
April 9, 2012
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KT&G’s Esse exports top 100 billion units
Overseas sales of KT&G Corp.’s flagship Esse cigarettes have surpassed 100 billion units since its maiden export in 2001, Korea’s largest tobacco firm said Monday.The tally is greater than the country’s yearly cigarette consumption of 90 billion pieces, a company spokesperson noted. Exports reached 21 billion pieces last year alone. The 17-model ultra slim brand has been reigning as the top seller in the local market since 2003, boasting around a 25 percent stake. It is now sold in some 40 count
April 9, 2012
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Samsung SNS wins iF packaging design gold
Samsung Network Services and Solutions said Monday that it received the gold award at the 2012 iF packaging design awards in Hannover.The first firm in the country to receive the prize, the company was recognized for its packaging that uses environmentally friendly materials such as reusable paper and ink made of soybean oil, its officials said. Five gold awards were granted by the organization.Instead of unifying the labels of the packaging, it also differentiated the colors depending on the pr
April 9, 2012
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Korean Air eyes W1.5tr sales of wingtips and cargo doors
Korean Air said Monday it expects to earn 1.5 trillion won ($1.3 billion) in sales of wingtips and cargo doors by 2021 as the country’s flag carrier boosts its aircraft parts business to diversify its revenue structure. The country’s largest airline said it delivered on Sunday the first set of its fuel-saving wingtip components, codenamed “Sharklets,” for Airbus S.A.S.’ A320 jets. The L-shaped parts, which will replace the current wingtip fence, will help enhance the aircraft’s payload range and
April 9, 2012
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SK struggles to revive ailing Cyworld service
SK Communications recently carried out a corporate revamp as part of last ditch efforts to revive its flagship social networking service Cyworld, which has been hit hard by the entry of Facebook. The Internet business unit of SK Group said Monday that it has scaled down its previous 30 business teams into 24, with a single coordinating body being set up under the leadership of new CEO Lee Joo-sik. “We used to have different teams for different businesses like Cyworld and Nate. Now we have integr
April 9, 2012
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Global center holds lecture on succeeding
The Seoul Global Business Support Center will hold a lecture on April 17 to answer questions foreign entrepreneurs might have concerning starting a business in Korea.Karim Khouider, co-founder of Direct Optic, will discuss his story and answer questions about starting and running a foreign business in Seoul, what it takes to make a business successful and the steps and difficulties foreign entrepreneurs have to go through when starting a company, officials said.Founded in Seoul in 2008, Direct O
April 9, 2012
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Austcham to hold forum on economic policy
The Australia Chamber of Commerce will hold a forum on Thursday to gain insight on the future role of Korean conglomerates and the impact on foreign business.During the monthly breakfast forum, Ewha Womans University professor Kim Byoung-joo will speak about the topic and his theories on how Korea’s economic policy may change as a result of the two critical elections this year, organizers said.Kim is a former policy counselor and special assistant to two Korean trade ministers, has sat on a numb
April 9, 2012
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Marketing trends examined at French chamber
The French Chamber of Commerce plans to have a luncheon on marketing trends on Thursday.The topic for the meeting will be new standards for digital communication in Korea and will be held at Lotte Hotel in central Seoul.With the rapid growth of mobile digital platforms and the consumer behavior evolution, speakers at the luncheon will give their insight on the digital marketing trends and how to implement adapted strategies. Speakers lined up are commercial director for Air France-KLM Simon Scho
April 9, 2012
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TaeguTec seeks takeoff with new plant
Buffett’s cutting tool company aims to double production and make innovative productsDAEGU ― With the recent inauguration of its second plant, TaeguTec expects to churn out more innovative products and double its production, solidifying its position as a world-leading cutting tool manufacturer.“This new plant opens a new avenue by increasing the supply to our customers with more innovative products,” TaeguTec president Moshe Sharon told The Korea Herald.“If you judge just by quantity, this mea
April 9, 2012
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Apple’s Cook highest-paid CEO as pay gains: report
Apple Inc.’s Tim Cook was the highest-paid chief executive officer in the U.S. last year as compensation gained 2 percent overall from 2010, the New York Times reported. Cook received about $378 million, which includes salary, perks and bonuses ($1.8 million) and a one-time stock award ($376.2 million), that extends over 10 years. One-half of the award vests in 2016 and the other in 2021, the news
April 9, 2012
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SKMtek eyeing Chinese market with driving assistance system
SK Telecom said Sunday that its system-on-chip solution unit SKMtek will enter the Chinese driver assistant system market in a business partnership with ImageNext, a local around view monitor developer. The advanced driver assistant system, or ADAS, aims to enhance road safety. The market is growing quickly, especially in China where the demand for high-end vehicles has been soaring recently.According to SK Telecom, the nation’s No. 1 telecom carrier, SKMtek and ImageNext on Sunday signed a memo
April 8, 2012
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Ministry ramps up financing for small builders
The government is ratcheting up efforts to shore up cash-strapped small- and mid-size builders by bankrolling their overseas expansion. The Ministry of Land, Transport and Maritime Affairs said Sunday it will provide 3.01 billion won ($2.66 million) for new construction projects this year, up more than 38 percent from 2011. It plans to frontload 2.84 billion won, or 94.4 percent, in the first half to sponsor 76 programs. Sixty small and midsize companies will receive at total of 2.44 billion won
April 8, 2012
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GS chairman pins hopes on smart grids
GS Group chairman Huh Chang-soo on Friday stressed smart grids as key to the future growth and climate efforts of Korea’s fifth-largest industrial group.Huh called on company officials to develop new technologies and boost commercialization capabilities for the conglomerate’s signature energy business during his tour to smart grid test-bed facilities on Jeju Island.The nascent technology enables transferring electricity loads to off-peak hours via a two-way, real-time communication between power
April 8, 2012