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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Consumers tightening belts as prices soar: survey
A growing number of Korean consumers have cut back on spending amid high-flying prices recently and the belt-tightening trend is expected to continue for the time being, a recent survey found Tuesday.The Korea Chamber of Commerce and Industry, which surveyed 500 households nationwide, used the acronym “SALT,” which stands for “sale, a little, low price and transfer,” to explain the new characteristics of consumer behavior.In the survey, 94 percent of households said they plan to watch prices mor
March 27, 2012
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Firms look to enhance image at nuclear summit
Leaders’ summit, industry forum seen as a good chance to improve image, products overseasKorean companies in sectors from auto and retail to telecom and electronics waged promotion campaigns on Tuesday to cash in on the Nuclear Security Summit and other sideline events taking place in Seoul. The largest-ever diplomatic event here offers major opportunities to boost their image and market products overseas, the companies say, with nearly 10,000 public officials, business people and journalists co
March 27, 2012
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KOGAS discovers more gas in Mozambique
The Korea Gas Corp. has detected another deposit of natural gas off the coast of Mozambique with a potential supply sufficient for the country’s needs for eight months, the government said Monday. The reserve was found at one of four wells in an offshore block in northern Mozambique waters and predicted to possess 10 trillion cubic feet of gas, according to the Ministry of Knowledge Economy. Eni S.p.A. of Italy holds a 70 percent stake in the project. KOGAS, Portugal’s Galp Energia and Mozambiqu
March 26, 2012
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‘Safety priority in radioactive waste treatment’
Safe handling of radioactive waste, which is hazardous to most forms of life and the environment, is essential for countries that depend heavily on nuclear energy. Following a recommendation by the International Atomic Energy Agency, the Korea Radioactive Waste Management Corp. was launched in 2009 to transport, store, treat and dispose of radioactive waste, build and manage radioactive waste disposal facilities, and conduct related research and development.The KRMC is scheduled to complete the
March 26, 2012
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‘New reactor design will boost Korea’s competitiveness’
Spurred by its robust drive to export nuclear plant technology, Korea will be rolling out a next-generation reactor that is safer, better performing, built faster and more cost-effective next year, the industry’s top expert said. The new model, named APR+, is a brainchild of the government’s “Nu-Tech 2015” package initiated in 2006, aiming to secure technological independence and shake off any lingering barriers to exports by the end of 2015. Succeeding the APR1400 currently in operation, the AP
March 26, 2012
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‘Korea in need of more top-notch nuclear professionals’
More nations will consider building nuclear power plants, says scholarKorea is running far short of high-skilled manpower for industrial use of nuclear energy, said Park Goon-cherl, president of the KEPCO International Nuclear Graduate School which opened early this month in Ulsan. The nascent school established and funded by the Korea Electric Power Corp. and four other public power-related companies recruited 61 freshmen for this year, 29 of whom are overseas students recommended by their gove
March 26, 2012
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Samsung C&T aims to become a global total solutions provider
Company pushes for value chain upgrade and expansion into overseas marketsSamsung C&T Corp., a listed construction arm of the Samsung Group, is pushing ahead with a set of measures to turn itself into a global total solutions provider. The company, established in 1938, is expanding its coverage into feasibility surveying, engineering, procurement, construction and operation and management. The expansion of the value chain, Samsung said, is aimed at detecting and developing fresh business opportu
March 26, 2012
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Outgoing CEO of S-Oil calls for cooperation to curb oil prices
Ahmed Subaey, outgoing chief executive of S-Oil Corp., said the Korean government and the private sector should work together to stabilize oil prices.“Unlike gold or copper, oil is not just a commercial commodity. Crude oil has several dimensions -- environmental, geopolitical and social,” Subaey told reporters on Monday, three days after his term ended as the refiner’s CEO. “Oil prices are too high now and they are driven not by supply and demand, but by geopolitical fears. If we can bring the
March 26, 2012
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CJ going global with ‘quick’ bibimbap
Local food giant CJ Group hopes to expand its international reach with the iconic Korean cuisine bibimbap, a steamed rice dish mixed with assorted vegetables and meat.CJ, which launched bibimbap restaurant chain Bibigo in May 2010, said it plans to increase the number of overseas Bibigo locations from the current three to 17 within the year. Bibigo, which was envisioned as a global brand from its beginnings, has a total of 10 stores now, including branches in Los Angeles, Beijing and Singapore.
March 26, 2012
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SK sees ‘big leap’ with Hynix
Chairman Chey aims high with synergy with the world’s No. 2 chipmakerICHEON, Gyeonggi Province -- SK Group chairman Chey Tae-won on Monday showed confidence that the nation’s third-largest conglomerate can produce synergy with the newly acquired chipmaker SK Hynix, formerly Hynix Semiconductor. “Through Hynix, SK Group will strengthen competitiveness in technologies, not just in the semiconductor sector, and earn more credibility globally,” said Chey, who is also the co-CEO of SK Hynix, during t
March 26, 2012
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Leaders have business agendas too
Some world leaders are making the most of their attendance at the Nuclear Security Summit as an opportunity to cement business ties with Korea. On Monday, leaders from Chile, Finland, Nigeria, New Zealand, Thailand and Britain opened a business forum, discussed economic cooperation with business chiefs from Korea, or visited Korean companies.On the sidelines of their leaders’ brisk business activities, some foreign governments inked agreements with their Korean counterparts on economic cooperati
March 26, 2012
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Daewoo launches volunteer corps
Daewoo International Corp., a Korean trading house, said Sunday it had launched a volunteer corps to support the education of underprivileged children as part of its social contribution efforts.Its employees will provide free English classes at children centers in Seoul and the metropolitan area and host other educational events every month, the company said.In a separate program, Daewoo said it also created a youth volunteer group consisting of the children of its employees. Its 26 members plan
March 26, 2012
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New Zealand PM visits Samsung plant
New Zealand's Prime Minister John Key visited Samsung Electronic Co.'s Suwon plant on Monday to check the latest hightech products being made by South Korea's leading technology company.The electronics giant said the prime minister and 20 members of his entourage, including the country's ambassador
March 26, 2012
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Nuclear summit provides business opportunities for conglomerates
The Nuclear Security Summit which opens Monday is providing prime business opportunities to Korean conglomerates as foreign leaders are scheduled to attend various investment forums and visit companies this week. About 100 Korean business chiefs are meeting with Chilean President Sebastian Pinera in downtown Seoul on Monday for a luncheon event to seek the expansion of economic ties between the two nations.The event, organized by the Korea Chamber of Commerce and Industry, will be attended by KC
March 25, 2012
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Korea pushes for further nuclear plant exports
World’s sixth reactor exporter seeks to expand foray into global markets after UAE dealSince a watershed deal with the United Arab Emirates in 2009, Korea has been ratcheting up its ambitions to promote its know-how in nuclear plant construction overseas. The $20 billion contract has since bolstered Korea’s confidence in its newly defined foray into the high-entry-barrier market, making it the sixth member of the league of reactor exporters following the U.S., France, Russia, Canada and Japan. E
March 25, 2012
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S-Oil elects new chief executive
S-Oil Corp. has picked Saudi Aramco’s former global refining coordinator Nasser Al-Mahasher as its new chief executive, Korea’s third-largest refiner said in a regulatory filing. The announcement came after meetings of the Seoul-based company’s shareholders and board of directors on Friday. Aramco, the Middle Eastern country’s state-run oil group, is the largest stakeholder of S-Oil. Al-Mahasher will take office immediately, succeeding Ahmed A. Subaey, who will return to the Dhahran headquarters
March 25, 2012
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Korea to show off LTE technology at summit
The Korea Communications Commission will run an exhibition booth during the two-day Nuclear Security Summit from Monday to offer opportunities for global leaders and foreign media to experience the nation’s advanced telecom and broadcasting technologies. The booth, located at COEX in southern Seoul, the venue for the Seoul summit that starts on Monday, will focus on the fourth-generation Long Term Evolution network service under the slogan “with SMART KOREA.”Diverse LTE devices and services such
March 25, 2012
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LSIS strives to become ‘global innovator’
Electric equipment maker expands R&D spending, ventures into green technologiesFrom electronics to steel to shipbuilding, Korean companies have been ramping up efforts in crafting innovative products and spearheading new technologies to stay ahead of ever-fierce competition at home and abroad.With a surging number of homegrown firms going global, they are striving to diversify business portfolios and customer bases to reinforce revenue streams in the face of economic uncertainties stemming from
March 25, 2012
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LG Chem reaffirms Kazakhstan partnership
LG Chem reaffirmed its partnership with the Kazakhstan government involving its ongoing projects in the Central Asia nation, holding a joint event in Seoul on the sidelines of the Nuclear Security Summit on Sunday.The two sides celebrated the book launch of the Kazakhstan President Nursultan Nazarbayev’s biography in the Korean language at a hotel in downtown Seoul, hoping to gain from the president’s “can-do spirit.”“When I met President Nazarbayev in Korea in 2010, he suggested we should build
March 25, 2012
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Industry leaders agree to share info, reduce HEU
Representatives of power companies, international organizations vow stronger cooperation for nuclear security, safetyMore than 200 nuclear industry leaders from 36 countries agreed to enhance nuclear security and minimize the use of highly enriched uranium on Friday at the Seoul Nuclear Industry Summit.The Seoul NIS, given the theme of “The Role of the Nuclear Industry in Enhancing Nuclear Security and Safety,” was held at the Grand Intercontinental Hotel as an auxiliary event of the Nuclear Sec
March 23, 2012