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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Tech companies vying to offer free text services
Popularity of free mobile messenger apps hits standard texting services hardLee Sung-ha, a 31-year-old office worker, has sent far fewer text messages since he started using mobile messenger services such as Kakao Talk and more recently Apple’s iMessage. Under his payment plan, he is allowed to send 300 messages every month without charge. But he said he now sends fewer than 30. “My voice minutes also slipped in recent months. I feel I’m wasting money on a useless service,” he said. “Even some p
March 21, 2012
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Food styling key to exports: aT chief
Food manufacturers will need to be creative in adapting flavors to local tastes and aesthetics to popularize more Korean cuisine on the international stage, the head of a state-run agriculture trade agency said. “How we export Korean food now won’t take our food to the American dining table. Food exporters need to brand each dish with a standardized name, twist flavors to fit local taste, and give it a unique brand,” CEO Kim Jae-soo of the Korea Agro-Fisheries & Food Trade Corp. said in a recent
March 20, 2012
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LG’s new products to expand China market
LG Electronics on Tuesday rolled out some 50 products for the Chinese market this year, as part of moves to build up its presence in the country. About 500 industry people and local reporters attended the launch at Kerry Hotel in Beijing, company officials said. Especially at the center of attention was the company’s Cinema 3-D TV, whose “bezel-less” design helps users feel more involved in 3-D films, they said. With the ambitious model, LG plans to step up efforts to expand market share in Chi
March 20, 2012
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Ustream Korea aims to expand K-pop...audience online
Ustream Korea, the Korean operation of global live streaming platform Ustream, started services Tuesday to distribute Korean-made content online, especially K-pop. The company, established in October, is a joint venture between KT Corp., holding 51 percent of shares, and Japan’s SoftBank, with the remaining 49 percent. The first CEO Jimmy Kim showed confidence in achieving bigger success than in Japan within two to three years, citing major events this year such as the presidential elections and
March 20, 2012
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Korean Air delivers rewired F-15 fighter
Korean Air on Tuesday made its first delivery of a rewired U.S. fighter plane from its Busan Tech Center under a $400 million order it won from the U.S. Air Force last September.Under the deal, Korean Air will work on 60 F-15 fighters stationed in the Pacific region by 2016, replacing their tail wings and re-wiring them in line with the U.S. military’s project to improve its combat strength. Korean Air will also carry out maintenance work.The airliner said it replaced some 15,000 Kepton wires us
March 20, 2012
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SK launches nation’s largest social enterprise
CEO says Happynarae will be new model of corporate social responsibility in KoreaSK Group turned its maintenance, repair and operation company with annual sales of 120 billion won into a social enterprise that purchases expendable supplies preferentially from firms that hire socially vulnerable people.SK Group said Tuesday MRO Korea was renamed Happynarae Co. and will now operate as a social enterprise to be officially certified by the Labor Ministry six months later.The nation’s third-largest c
March 20, 2012
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KAI wins $1.22b Airbus wing parts contract
South Korean aerospace company Korea Aerospace Industries Ltd. said Tuesday it has won a $1.22 billion contract to exclusively supply wing parts to Europe’s Airbus SAS.The contract, signed in France late Monday, calls for the building of wing bottom panels for the very popular A320 passenger jets and marks the single largest civilian aircraft components deal won by a local company. KAI said it will supply the panels for the duration of the aircraft’s production that may extend to 2025, with the
March 20, 2012
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Bosch seeks more independence in Samsung car battery venture
Robert Bosch GmbH, the world’s biggest car-parts supplier, is in discussions with joint venture partner Samsung SDI Co. about producing more electric car batteries independently of each other.Bosch has been discussing greater autonomy from its partner in the SB Limotive joint venture for at least a month as it seeks to react more quickly to customers’ demands, Udo Ruegheimer, a spokesman for the Stuttgart, Germany-based company said by telephone.“All customer contracts are decided jointly, so it
March 20, 2012
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U.S. to slap antidumping duties on LG, Samsung fridges
The U.S. Department of Commerce said Monday it has decided to impose antidumping tariffs on refrigerators made by Samsung Electronics Co. and LG Electronics Inc., which Whirlpool Corp. accused of being sold at below-market prices.The department said that it will impose antidumping duties of as much
March 20, 2012
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Wendy’s tops Burger King as second-largest U.S. burger chain
Wendy’s Co. surpassed Burger King Holdings Inc. in sales last year, making it the second-largest U.S. hamburger chain, according to Chicago-based researcher Technomic Inc. Sales at Dublin, Ohio-based Wendy’s U.S. locations were $8.5 billion last year, while Miami-based Burger King’s sales
March 20, 2012
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Tata Daewoo CEO to head foreign business group
The Korea Foreign Company Association elected Kim Jong-shik, head of Tata Daewoo Commercial Vehicle Co., as its chairman, the lobby group announced on Monday.The general meeting of the largest foreign business community in the country voted Kim to replace Shin Bak-je, CEO of NXP Semiconductor, to lead FORCA for the next two years.“We’re at an important juncture where foreign businesses have become an integral part of growth in Korea. FORCA will strive to merge better with the Korean society,” Ki
March 19, 2012
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Hyundai Mipo reaches milestone of 600th ship delivery
Hyundai Mipo Dockyard Co., a Korean shipbuilder, on Monday set a milestone in vessel construction with the delivery of its 600th product in just 14 years.The affiliate of Hyundai Heavy Industries Co., the world’s largest shipyard, said it handed over a container vessel with a capacity of 1,000 twenty-foot equivalent units to CK Line Co., a Seoul-based shipping line. The accomplishment came only 14 years after Hyundai Mipo tapped the market in 1997 with a focus on mid-size product carriers, the c
March 19, 2012
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Daewoo Electronics gears up to expand in U.S.
Daewoo Electronics said Monday that it is seeking to expand its presence in the U.S. home appliance market with its new line-up of microwaves and small washing machines throughout this year.By signing an agreement with U.S retail giant Walmart, the company plans to ship 250,000 units of 26 liter microwaves to 1,500 different branches of Walmart located throughout the U.S. for this year.The company also expects to engage in additional talks with Walmart next month to supply an expanded lineup of
March 19, 2012
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KT aims for 40 trillion won sales by 2015
Outlining vision for his second term, Chairman Lee says ‘no free lunch’with network useKT Corp. on Monday reaffirmed the company’s new vision of becoming a global media group expanding into businesses other than telecom services and doubling its current sales within three years. “If there were industrial and globalization revolutions that changed the world dramatically over the past 200 years, the virtual goods revolution will make changes in the coming years,” said KT chairman Lee Suk-chae. “An
March 19, 2012
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Himart chairman summoned over alleged tax evasion
Prosecutors summoned the chairman of Himart Co., a major South Korean home appliance retailer, on Monday for questioning on the charges of capital flight and tax evasion.Sun Jong-koo is accused of stashing personal assets and company funds overseas as well as using irregular methods to transfer weal
March 19, 2012
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Samsung fined for hindering antitrust investigation
The Fair Trade Commission said Sunday that it fined Samsung Electronics and two of its executive officers a combined 400 million won ($355,000) for hindering an investigation by antitrust regulators. The fines are the highest-ever imposed for such an offense, the nation’s antitrust watchdog said. Last March the FTC raided Samsung’s Suwon plant in Gyeonggi Province as part of an investigation into the pricing policy of local handset makers. However, security officials there delayed the entry of a
March 18, 2012
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Samsung head names legal team for inheritance suit
Samsung chairman Lee Kun-hee announced six lawyers who will represent him in the ongoing inheritance battle with his older siblings as soon as he returned from an overseas trip last week.On Friday, Samsung Group unveiled the chairman’s team of lawyers from three different law firms ― Bae, Kim and Lee LLC, Shin and Kim and The ONE ― on the same day its chairman returned to Seoul from his trip to Hawaii.Many observers believe that chairman Lee met with his older sister Lee In-hee, who is the Hanso
March 18, 2012
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SKT’s global forum on next-generation networks
SK Telecom said Sunday that it will hold a five-day conference in Seoul to discuss next-generation mobile networks with 13 other global mobile service providers beginning on Monday.Organizer SKT, the country’s top mobile carrier, said the meeting will be held in two different sessions ― an operating committee meeting and partner forum ― with about 20 mobile makers participating from around the world.The theme of the conference will be the successful development and commercialization of the fourt
March 18, 2012
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Blizzard announces May release of Diablo 3
Blizzard Entertainment announced Sunday that its global release of the firm’s popular action role-playing online game, Diablo 3, will take place on May 15.Mike Morhaime, chief executive and co-founder of Blizzard Entertainment, told local media that he felt Korea has shown a strong response to the announcement of Diablo 3’s release date and that it is in the final development stage for better game play and language customization.However, the company decided to leave out the cash auction house fu
March 18, 2012
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SK Biopharm’s constipation treatment in phase-2 trials in U.S.
SK Biopharmaceuticals Co. said on Sunday it began phase-2 clinical trials of YKP10811, a treatment for chronic constipation, in the United States last month.The phase-2 trials are conducted on patients with chronic constipation and other gastrointestinal disorders to see if once-a-day oral dosing of the drug is effective and safe.Once the phase-2 and phase-3 trials succeed, SK Biopharm expects to begin sales of the new drug around 2016.Unlike the current treatments for constipation that rely on
March 18, 2012