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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CJ targets Vietnam for global expansion
CJ Group chairman Lee Jay-hyun emphasized the importance of the soaring Vietnamese market for the leading food and entertainment conglomerate to expand its global presence, group officials said Sunday. According to the group, executive officials including the chairman, his elder sister and vice chairman Lee Mi-kyung plus CEOs of affiliates, gathered last week in Ho Chi Minh to discuss strategies for Vietnam. During the three-day gathering April 3-5, the chairman picked Vietnam as one of the most
April 8, 2012
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Samsung estimates record-high Q1 profit
Samsung Electronics said Friday that it estimates it will post its highest-ever operating profit at 5.8 trillion won ($5.15 billion) for the first quarter.Analysts also gave rosy outlooks for the upcoming second quarter, expecting strong sales of the Galaxy S3 smartphones, which is planned to be released next month. In a regulatory filing, the world’s top television and memory chip maker said it is likely to mark a 96.6 percent rise in operating profit from a year earlier and an increase of 9.4
April 6, 2012
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Libya geopolitical risks challenge STX
STX Group, Korea’s shipping and shipbuilding conglomerate, is seeking to win Libya’s huge energy infrastructure projects, which company officials said could be worth up to $10 billion.STX Group officials said STX Heavy Industries signed a memorandum of understanding on building energy, steel desalination and other facilities in Libya’s northern region of Tobruk early last month. The group became the first Korean company to tap projects in the post-civil war region.A spokesperson for STX said tha
April 6, 2012
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Hyundai Motor drives up stock gains in auto sector
Strong earnings expected to continue in second quarter on overseas salesShares of Hyundai Motor Co. and affiliate Kia Motors Corp. are on the rise since last month on robust overseas sales in the first quarter, pushing up shares of automotive parts makers and other related companies.Hyundai and Kia announced that their global sales volume last month gained 17.9 percent from a year ago to 382,659 vehicles, and 7.1 percent to 240,457 vehicles, respectively, despite sluggish domestic sales.The tw
April 6, 2012
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CEOs discuss making premium goods
Chief executives of the “100 blue-chip companies” and industrial experts gathered in Seoul on Friday to discuss how to create unique Korean premium goods.The companies committed to hatching top brand names organized a forum in February and held their second meeting to share management knowhow and seek collaboration.Chief executives of outdoor clothing company Black Yak and bamboo salt maker Insanga Inc. gave presentations on their management experiences. Despite repeated failures in the early s
April 6, 2012
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Samsung puts Q1 operating profit at record 5.8 trillion won
Samsung Electronics Co., the world's largest maker of memory chips and smartphones, estimated Friday it had posted a record operating profit of 5.8 trillion won (US$5.15 billion) in the first quarter of the year.The preliminary estimate for the January-March period marked a96.6 percent rise from 2.95 trillion won a year earlier, and a 9.4 percent gain from the previous quarter, the company said in
April 6, 2012
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Experts to decide fate of nuclear power plant: KHNP chief
The chief executive of the Korea Hydro and Nuclear Power Co. said Thursday the company will follow the decision by specialized agencies on whether to shut down the Gori-1 nuclear power plant in Busan.A power failure at the Gori-1 unit in February and attempts to cover it up raised public demands to close down the nuclear facility.“I apologize for causing concerns over the power outage at the Gori-1 unit,” Kim Jong-shin, CEO of KHNP, said in a press briefing at Busan City Hall. “As for the propos
April 5, 2012
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Boeing pitching for sales of new 737 MAX
Boeing said Thursday it had received more than 1,000 orders and commitments for its new 737 MAX aircraft from 16 customers in just eight months since its launch and was in talks with potential customers in Korea.The aircraft manufacturer expects single-aisle planes with 90 to 200 seats like the 737 MAX to account for about half of new aircraft deliveries to the Asia Pacific region over the next 20 years.“Market deregulation combined with rapid economic growth has removed many traditional barrier
April 5, 2012
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Google supplements privacy policy for Korean users
But search giant denies any revision in data sharing across servicesGoogle has agreed to supplement its controversial privacy policy to better communicate with Korean users, the nation’s Internet regulator said Thursday. According to the Korea Communications Commission, the California-based search giant will provide Koreans more detailed explanations about its recent combination of user data across some 60 services.“It’s meaningful that Google has agreed to offer more explanations for Korean use
April 5, 2012
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ManpowerGroup named on most ethical firm list
ManpowerGroup, a provider of services in human resources, has been included on Ethisphere Institute’s World’s Most Ethical Companies list for the second straight year. The list is based on companies’ commitment to ethical leadership, compliance, corporate social responsibility and business practices at large. ManpowerGroup said the recognition reflects its continued efforts.“This recognition means a great deal to ManpowerGroup’s people because we take tremendous pride in doing good while doing w
April 5, 2012
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Kakao chief wins Pony Chung Award
Chairman Kim Beom-su of Kakao, best known for the nation’s No. 1 mobile messenger Kakao Talk, has been selected as this year’s winner of Pony Chung Award, the Pony Chung Foundation said Wednesday. “Kim has been recognized for leading the local online game, portal and mobile application market through his relentless venture spirit and insight,” said Kim Jin-hyun, chairman of the foundation. The award honors an innovator across industries in memory of the late Hyundai Development Company chairman
April 5, 2012
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KT&G rolls out ‘Lamborghini’ cigarette
KT&G Corp., South Korea’s biggest tobacco maker, said on Wednesday it will launch a new cigarette named after the famous Italian fashion brand “Tonino Lamborghini” on April 18.The new premium brand has been in development for the past three years to target both the domestic and overseas markets, the company said. KT&G has obtained the exclusive global sales rights for the cigarette brand and plans to market it as one of its global strategic items. “The new cigarette has been made of top-of-the-n
April 4, 2012
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Samsung Electronics certified for carbon reduction efforts
Samsung Electronics said Wednesday that the firm was given the Carbon Trust Standard certificate by a London-based organization for its carbon-reductive management.Being named the first firm in the country to receive the certificate, Samsung was recognized for its carbon-reduction efforts in eight different workplaces here, according to Samsung officials. Carbon Trust Standard is valid for two years. This comes after the company won the Carbon Footprint for the Galaxy 2 and Galaxy Note earlier i
April 4, 2012
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Samsung prepares for LCD panel generation shift in China
Since launching its new display arm, Samsung is gearing up to make a generation shift in display panels at its Chinese plant in Suzhou, Jiang province, so that it can make larger display panels and possibly organic light-emitting diode displays.Chang Won-kie, president of Samsung China, told reporters Wednesday that the Chinese government has approved the firm’s request to shift its liquid-crystal display manufacturing line from 7.5-generation to 8-generation, hinting that it will soon show “out
April 4, 2012
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Korea to invest 1.24 trillion won in key IT areas
The government said Wednesday it would invest 1.24 trillion won (about $1.1 billion) into the research and development of 10 key information technology areas over the next five years.The key areas are core technologies for next-generation smart devices; key IT materials; big data and artificial intelligence; hybrid storage; total networks for fixed-line and wireless services; terahertz and quantum information technology; software platforms for unmanned systems; biosensors; life-care robots and p
April 4, 2012
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Social shopping eyeing 2 trillion won sales this year
Top three players prioritize consumer satisfaction for further growthThe social commerce industry here has grown into a 1 trillion won ($900 million) market in just two years. Industry watchers say the market size is expected to nearly double this year. More than 5,000 discount deals are offered every month at each social shopping site, while the value of monthly transactions has already surpassed 100 billion won.In the early days, popular items at daily deal sites were mostly restaurant coupons
April 4, 2012
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Hyundai unveils all-new Veloster Turbo
Hyundai Motor Co. on Tuesday unveiled a turbo version of its three-door hatchback Veloster, packed with more power and bulkier exterior. Scheduled to go on sale Wednesday, the facelift equips the mid-sized sedan with a turbo 1.6 liter GDI engine capable of pulling 204 horsepower and peak torque of 27 kilogram-meters, up from 140 horsepower and 17 kilogram-meters.“The Veloster Turbo is an upgrade to match customer demand for a higher performance model. The new 1.6-liter T-GDI four-cylinder engin
April 3, 2012
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Revised regulation forces retailers to cut hours of business
The government on Tuesday approved a revised regulation to force large retailers to close one or two days a month or cut operating hours as part of efforts to protect smaller businesses and traditional markets. Under the revision to the Distribution Industry Development Law, discount stores and supermarket chains will face fines of 10 million won ($9,666) for first violation and 20 million won for the second.Currently, the nation’s top three retail giants E-Mart, Homeplus and Lotte Mart open eve
April 3, 2012
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Samsung certain to overtake Apple in Q1 smartphone sales
Expectations for record quarterly earnings are rising for Samsung Electronics with a recent report indicating that the firm has beaten its rival Apple Inc. in global smartphone sales for the first quarter.Global investment bank Canaccord Genuity’s technology analyst Michael Walkley said in a report released Tuesday that he sees Samsung selling 41 million smartphones from January-March, outperforming Apple’s 32.6 million and Nokia’s 12.5 million.Raising his yearly estimate for smartphones to 723
April 3, 2012
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Business lobby renews commitment to shared growth
The minister of knowledge economy and the chief of the Federation of Korean Industries met on Tuesday to stress their commitment to shared growth between large and small companies despite recent controversies.The meeting comes just days after Chung Un-chan stepped down as head of the council dedicated to co-prosperity of business giants and small firms last Thursday, criticizing the FKI.Chung said the lobbying group for the nation’s largest conglomerates should be reborn or disbanded, and slamme
April 3, 2012