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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profile-Khang
profile-KhangKhang Sung-wook profile- Took office as chief executive of GE Korea in January 2012.- Worked at Cisco Systems as president for enterprise and commercial business in Asia Pacific from October 2002 to December 2011.- Served as general manager of enterprise systems group at Hewlett-Packard Korea, managing director of Compaq’s Korean operations and regional managing director for Tandem Computers’ East Asia operations between 1990 and 2002.- Started his career as system engineer at IBM i
April 3, 2012
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GE Korea seeks mutual growth, greater recognition
CEO aims to reinforce ties with Korean government, businesses, schoolsThe Korean arm of General Electric, launched in 1976, sees mutual growth with local businesses through the sharing of technologies and management know-how as one of its key missions. Khang Sung-wook, who took office as the chief executive of GE Korea in January, has vowed to invigorate cooperation with hundreds of local partner firms, build new alliances and boost the company’s reputation.“GE Korea is a sizeable company with s
April 3, 2012
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Samsung to build chip plant in Xian
Samsung Electronics said Monday that it picked China’s Xian, Shaanxi province to build its second overseas NAND Flash production plant.With initial funding of 2.3 billion won ($2 million) for construction, the firm plans to begin producing 10-nano NAND Flash at the plant starting in the latter half of next year, according to company officials.The 10-nano NAND Flash memory chips are planned to be manufactured at the firm’s Korean plant in June.Samsung also plans to spend up to 7 billion won to co
April 2, 2012
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POSCO steel mill project in India hits snag as approval suspended
POSCO’s envisioned $12 billion steel mill project in India hit another snag as the country’s environmental panel suspended the approval given to the construction plan that has dragged on for seven years.The ruling by India’s National Green Tribunal, after considering a public petition, said the Environment Ministry should reassess the conditions on which environmental clearance was granted to the project last year, Environment Minister Jayanthi Natarajan said Friday in New Delhi. Natarajan said
April 2, 2012
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SK Group’s Chey tells forum about importance of social enterprises
SK Group chairman Chey Tae-won on Monday proposed sharing knowhow on social enterprises with Chinese partners on the sidelines of an international economic forum held in China’s province of Hainan.Chey spoke about SK’s experiences in supporting social enterprises during a breakfast meeting of about 40 Chinese politicians, government officials, businessmen and academics hosted by the conglomerate before the official opening of the Boao Forum for Asia. Chey underscored the importance of social ent
April 2, 2012
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Samsung CEO urges workers to halt unfair trade practices
Samsung Electronics’ chief executive Choi Gee-sung stressed Monday that the firm must rule out practices that go against fair trade and competition.In a quarterly in-house broadcast, the company’s vice chairman said a law-abiding business operation was the core value of the nation’s top conglomerate and also the way to maintain order in the market.“We also must take a step further with our partner firms by not only giving them financial support funds but encouraging them to take part in new tech
April 2, 2012
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Samsung Display launch signals change in global display business
Samsung Display announced its new beginning and signaled a change in the global display industry as it held a launching ceremony in its plant in Tangjeong, South Chungcheong Province on Monday.Headed by new chief executive Park Dong-gun, the spin-off of the electronics arm’s liquid-crystal unit will start its business, which recorded accumulated yearly sales of 22.7 trillion won last year, with about 20,000 employees.Park, who formerly served as the executive vice president of LCD businesses, em
April 2, 2012
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Hyundai Heavy, Magna E-Car to create electric car battery JV
Hyundai Heavy Industries is venturing into the lithium-ion battery market for electric cars, hoping to bask in the soaring demand for long-range, environmentally friendly next-generation vehicles.The world’s largest shipyard said it clinched an agreement Monday with Canadian auto parts maker Magna E-Car Systems to launch a $200 million joint venture. The Korean company would take a 40 percent stake and the Ontario-based firm the remainder. Magna E-Car is another partnership between Magna Interna
April 2, 2012
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SK Planet targets Kakao Talk with acquisition of Tic Toc
SK Planet said Monday that it had acquired MADsmart, a venture firm best known for its mobile messenger service Tic Toc.With Kakao Talk dominating the local mobile messenger market, the company hopes to expand its presence with the new acquisition.It is the first acquisition for SK Planet since the former platform unit of SK Telecom was spun off in October. MADsmart, established in last March by KAIST graduates, recently saw its subscriber numbers surpass 13 million since the launch of the Tic T
April 2, 2012
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Ecowin to sell pesticides in Turkey
Ecowin Co, a venture firm specializing in eco-friendly pesticides, said it has entered the Turkish market by setting up a joint venture with Fipa Ekolojik. Under the deal, Ecowin will provide organic fertilizer technologies to the Turkish firm in return for a 50 percent stake in the joint venture firm, which will open up a crucial channel to the regional market. The joint venture will manufacture environment-friendly pesticides based on Ecowin’s core technologies. The Korean company, founded in
April 2, 2012
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LG throws Cinema 3-D promotional event
LG Electronics Co. held a promotional event for its 3-D televisions and other gadgets at the Lotte World ice rink in Jamsil, southeastern Seoul, over the weekend.Tens of thousands of visitors experienced LG’s 3-D technology at the two-day “LG Cinema 3-D World Festival” on the carpeted ice rink. The company put about 300 Cinema 3-D televisions, laptops and home theaters on display and offered some 30,000 Cinema 3-D eyeglasses to allow visitors to view the 3-D content ranging from broadcasts, movi
April 1, 2012
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STX OSV wins W240b order for specialized offshore vessels
STX OSV said Sunday it had won an order to build two high value-added offshore specialized vessels worth 240 billion won ($200 million) for Norway’s Farstad Shipping.The multifunctional vessels, which can transport oil field development platforms and fix them in deep waters, cost more than double the usual amount for offshore specialized vessels.STX OSV plans to build the hulls of the ships in a shipyard in Romania’s Tulcea and complete the rest of the work in Norway’s Langsten shipyard for deli
April 1, 2012
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Peach may ignite airline price war
Budget carrier to run cheap flights between Incheon and OsakaKorea’s low-cost airlines are girding for fierce competition in the skies as Peach Aviation is racing to launch a new route to Seoul, seeking a slice of a budget travel boom in Asia’s fourth-largest economy. With the number of cost-conscious tourists surging, budget carriers are increasingly steering abroad in a bid to offset high jet oil prices and prop up their balance sheets. Osaka-based Peach is the latest in a string of no-frills
April 1, 2012
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Lotte, Shilla to cut duty-free commission fees
The nation’s top two duty free chains Lotte and Shilla have agreed to lower their commission fees for vendors by 3-11 percentage points from April, the Fair Trade Commission said Sunday. Early this year the antitrust watchdog found that major travel retailers had charged some 30 percent of local vendors more than 55 percent of their profits as fees for using their floor space. Even considering the 15 percent brokerage commission for travel agencies and guides, the rate was higher than the averag
April 1, 2012
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‘Fisheries should be excluded from China FTA’
The chief of the National Federation of Fisheries Cooperatives said fisheries should be excluded from the free trade agreement negotiations to cut tariffs between Korea and China.The duties on fish must be retained to protect the troubled local fishing industry, Lee Jong-koo said in an interview with Yonhap news agency.Whereas Korea imports frozen fish from the United States and Chile, large amounts of fresh fish can be brought in from China due to its proximity, possibly dealing a blow to the d
April 1, 2012
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Heo Min-heoi named new CEO of CJ Foodville
CJ Foodville has named the current chief operating officer Heo Min-heoi as a new chief executive officer of the franchise unit of CJ Group. The former vice president at CJ Group has served as acting president for CJ Foodville since December. “We have named him for his experience and expertise in the food industry and related services as well as his business mentality and leadership,” the company said. “I’ll help CJ Foodville realize CJ’s dream and vision of globalization of Korean dining based o
April 1, 2012
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Google plans low-price tablet computer: reports
Google is teaming with Asia-based hardware makers on a low-priced, 7-inch tablet computer to challenge offerings by Amazon.com and Apple, reports said Thursday. The Sony’sTablet P, which runs on Google Inc.`s Android operating system. (Bloomberg-Yonhap News)Android software backed by the California Internet giant will power hardware built by partners including Samsung and Asustek to compete with i
April 1, 2012
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LG’s plastic e-paper could boost e-books
LG Display’s mass produced plastic e-paper could boost the global e-book market.On Thursday, LG Display said it began mass production of a plastic e-paper that is half the weight and one-third the thickness of existing glass-based displays.This makes it possible for more portable e-books, as it can be bent up to 40 degrees. The displays also do not break easily, and can be safely dropped from 1.5 meters, according to LG Display officials.Maintaining a thickness of 0.7 millimeters and a weight of
March 30, 2012
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Park Yong-maan to head Doosan Group
Doosan Corp. chairman Park Yong-maan was elected as chairman of Doosan Group at a shareholders’ meeting Friday.The 57-year-old businessman is the fourth son of first group chairman Park Too-pyung. He will replace Park Yong-hyun, the current group chief and the founder’s third son. “Chairman Park Yong-maan will preside over the overall group strategy as the new chief, taking over the responsibilities of Park Yong-hyun,” the group said in a statement. The decision came as chairman Park Yong-hyun r
March 30, 2012
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POSCO aims to rank within global top 100
POSCO, the world’s third-largest steelmaker, said Friday that it will achieve 200 trillion won in sales and expand into the global top 100 companies by 2020.POSCO CEO Chung Joon-yang unveiled a new corporate vision on the day, marking the 44th anniversary of the company’s foundation at its headquarters in Pohang, North Gyeongsang Province. Last year, South Korea’s largest steelmaker ranked 161st with 60 trillion won in 2010 sales in the U.S. business magazine Fortune’s “Global 500 List.” “I appr
March 30, 2012