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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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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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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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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SK Hynix makes bid for Elpida
SK Hynix, the world’s No. 2 memory chipmaker, said Friday that it would take part in the bid for Japan’s bankrupt dynamic random access memory maker Elpida Memory.The Korean firm submitted a preliminary bid for Elpida, which filed for bankruptcy protection in Japan, to Nomura Securities, sources said.SK Hynix also confirmed the bid submission in a regulatory filing later in the day, stating that it would finalize its decision after conducting due diligence in the future.“We reached a decision to
March 30, 2012
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New rules aim to end in-house deals at big firms
Top 10 conglomerates agree to implement the non-binding guidelines from AprilThe nation’s antitrust watchdog announced Thursday a set of new guidelines for top-tier companies to share more business opportunities with smaller firms through competitive bidding and fair contracts. According to the Fair Trade Commission and company officials, the nation’s top 10 groups have already agreed to refrain from in-house transactions starting in April even though the new regulations are not legally binding.
March 29, 2012
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European firms turn attention to business in Korea
EU, Yonsei University offer business support project for European firmsSince the signing of the Korea-EU Free Trade Agreement, more European firms are grasping business opportunities here with the European Commission offering its support.The EU Commission, together with Sangnam Institute of Management at Yonsei University, introduced a program designed to help European companies’ workers better adjust to the Korean business environment in downtown Seoul on Thursday.The program, dubbed the Execut
March 29, 2012
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Samsung chief meets Hungarian president to discuss cooperation for PyeongChang
Samsung Electronics chairman Lee Kun-hee held a meeting with Hungarian President Pal Schmitt, who is also an International Olympic Committee member, in Seoul Wednesday evening.The dinner meeting came about eight months after Lee met with Schmitt at the IOC conference held in South Africa. Schmitt accepted the invitation while making a visit to Korea to join the Seoul Nuclear Security Summit, which successfully wrapped up its two-day schedule on Tuesday.Lee Jae-yong, president of Samsung Electron
March 29, 2012
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Daelim Industrial sets sights on power generation
Korea’s No. 5 builder seeks future growth engines, broaden overseas marketsKorea’s construction companies are stepping up efforts to diversify their project portfolios and client lineups in their quest for stable revenue streams amid economic uncertainties.Daelim Industrial Co., Korea’s fifth-largest builder, is seeking to lead the industry’s transition with an array of contracts for housing, infrastructure and plants. Harnessing its technological know-how in dam, bridge, harbor and plant constr
March 29, 2012
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LG aims for lead in high-capacity appliances
Company aligns with trend of refrigerators, washers getting bigger with changing lifestylesLG Electronics is aiming to take the lead in introducing high-capacity home appliances in the local market as well as some overseas regions, ranging from side-by-side refrigerators to drum washing machines.The premium high capacity side-by-side refrigerators in the 800-liter range are gaining popularity in the country as an increasing number of double-income families request more storage space due to their
March 29, 2012
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Cho honored by Asia Society
Korean Air chief executive Cho Yang-ho has been named “Asian business leader” for 2012 by Asia Society Southern California, the country’s largest carrier said Thursday.The non-profit organization picked Cho, 63, for his contribution to the regional economy as chairman of Hanjin Group, the parent company of Korean Air, the company said in a statement.Hanjin owns and is currently redeveloping the historic Wilshire Grand Hotel in downtown Los Angeles into a tower complex. The conglomerate has also
March 29, 2012
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Korean Air advertisements win consumer awards
Korean Air’s advertising campaign was selected by consumers for having the best television and magazine ads. The airliner on Thursday received awards in the two sections in the annual “Good Ads Selected by Consumers” award ceremony hosted by the Korea Advertisers’ Association and the Ministry of Culture, Sports and Tourism. Korean Air’s commercial highlighting the beauty of the Korean landscape and culture, which was first aired in July, won the top award for television ads.The air carrier’s adv
March 29, 2012
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Stroller importers charge twice as much in Korea
Koreans’ fever for luxury goods has been spreading rapidly to children’s products. Now a growing number of young parents want to show off their parenting ― and lifestyle ― with pricey baby strollers, especially those from Europe and the U.S.A survey Wednesday, however, found that local importers of foreign brand strollers have taken advantage of the luxury trend in parenting, almost doubling selling prices in Korea compared to the prices in their original countries. According to Consumers Korea,
March 28, 2012
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Major hospitals to use more Korean-made equipment
Korea’s hospitals and medical equipment producers joined forces on Wednesday to help the local health care industry, which faces increased competition from overseas following free trade pacts.The Ministry of Knowledge Economy brought together chiefs of the country’s eight major hospitals and executives from eight medical device manufacturers including Samsung Medison and LG Electronics.The gathering was aimed at scaling up the use of Korean-made products in hospitals here, inciting private inves
March 28, 2012
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Samsung C&T joins $5 billion carbon-capture project in Britain
Samsung C&T Corp., a South Korean trading firm, said Wednesday it has inked a deal to join a $5 billion project to build a coal-powered plant and a carbon capture and storage facility in Britain.Under the joint development agreement with London-based 2Co Energy Ltd., Samsung C&T will build a 900 megawatt coal gasification plant and a carbon capture and storage facility at Stainforth in South Yorkshire.The agreement allows Samsung C&T to own 15 percent of the so-called Don Valley Power project, a
March 28, 2012
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Hyundai Motor’s new global ad campaign
Hyundai Motor Co. is fronting a new advertising campaign dubbed “Live Brilliant” to create close brand relationships across the globe, the carmaker said Wednesday. A coordinated series of TV commercials and print advertisements will be published across North America, Europe, Africa, and Asia starting April, portraying Hyundai as a common brand for modern family life. “We at Hyundai aim to be recognized as a brand that creates new values for the drivers, not just a vehicle manufacturer,” Hyundai
March 28, 2012
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KT seeks follow-up projects in Gabon
KT chairman Lee Suk-chae on Wednesday met Gabonese President Ali Bongo Ondimba to discuss future partnerships following the ongoing project “Digital Gabon,” KT officials said.The president was visiting Korea to participate in the Seoul Nuclear Security Summit that ended its two-day run on Tuesday. Together with Samsung C&T, KT Networks, a network system unit of KT, has been carrying out a project that aims to build the administrative network infrastructure for the Gabonese government since 2011.
March 28, 2012
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S&T Motiv exports pistols to U.S.
S&T Motiv, Korea’s only manufacturer of small-caliber firearms, said it will export pistols to the United States for the first time starting in May.S&T Motiv said it will export upgraded versions of the DP51 handgun worth a total of about 6 billion won through an American firearms importer named Lion Heart Industry for 18 months. The revolvers will be rebranded LH9, LH9 MKII and LH9C in the U.S. market.The deal comes after S&T Motiv’s products passed the shooting tests and quality tests required
March 28, 2012
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Software piracy losses drop 29% in 2011: report
Revenue losses from illegal software reproduction sharply fell last year on the back of the government’s sweeping drive against online piracy, a report said Wednesday.Losses from software piracy totaled 214 billion won ($188 million) last year, down more than 29 percent from a year ago, according to the Korea Software Property-Right Council.“The results reflect anti-piracy laws and the government and authorities’ ongoing drive to clean up software counterfeiting,” said Kim Eun-hyun, chairman of
March 28, 2012
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Samsung reaches out to secure global mobile lead
Over 5 million units of Galaxy Note sold worldwide ahead of Galaxy S3 launchDespite its ongoing patent suits in different courts around the world, Samsung Electronics is positioning itself as the global top smartphone manufacturer with the successful landing of its Galaxy Note.The world’s second largest handset maker said on Wednesday that it sold more than 5 million units of the 5.3-inch Galaxy Note globally since rolling out the gadget in October of last year.Since taking up 67 percent of the
March 28, 2012
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Samsung chairman sued by his nephew’s family
Samsung Electronics Co. chairman Lee Kun-hee is being sued by yet more relatives belatedly demanding a share of his inheritance from his father, Samsung founder Lee Byung-chull.In February, Lee, the third son of the group founder, was sued by an elder brother and elder sister, over their father's le
March 28, 2012
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KEPCO takes nuclear summit as new business opportunity
The Seoul Nuclear Security Summit has been a golden opportunity for Korea Electric Power Corp. as the company seeks overseas business expansion.Kim Joong-kyum, chief executive of the state-funded power company, met with a number of potential business partners and high-profile government officials including two foreign leaders who visited Seoul to attend the summit.On Monday, Kim sat down with Nigerian President Goodluck Jonathan and requested support for KEPCO’s investment in the African country
March 27, 2012
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Korean firms scramble to cash in on summit
The country’s business circles were overwhelmed with business meetings as the Nuclear Security Summit entered its final day on Tuesday.With a goal of reaffirming partnerships and searching for new business opportunities, a large number of firms, such as Hyundai Motor, LG Chem, LS Industrial Systems, POSCO, Samsung C&T and SK C&C, participated in private meetings with the foreign delegations throughout the day.In particular, a total of 10 agreements were signed during a business forum arranged be
March 27, 2012
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[Herald Interview] FORCA to foster relocation of Japanese firms to Korea
For decades, business associations have been known for aggressive lobbying of policymakers while passively responding to calls for corporate social responsibility. The Korea Foreign Company Association, the largest foreign business community in the country, is seeking to change this image and expand its role to attract overseas businesses.Kim Jong-shik, the newly appointed chairman of FORCA, says the organization is drawing up a plan help transfer the headquarters of Japanese firms to Seoul this
March 27, 2012