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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Angry Birds Space unveiled with Samsung
Samsung Electronics said Monday that it had unveiled the latest version of the global hit game Angry Birds at the South by Southwest festival in Austin, Texas, on Friday, with its official launch due on March 22.In the new installment, Angry Birds Space, developed by Finnish game studio Rovio, the birds and their arch enemies, the egg-stealing pigs, are launched into outer space. Samsung and Rovio have also teamed up to offer some exclusive levels of the version called the “Samsung Galaxy Note L
March 12, 2012
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Auto exports to EU rise despite shrinking market
Korea-EU FTA helps boost car exports to Europe: ministryKorea’s auto exports to the European Union last year surged 42.8 percent from the previous year thanks to the bilateral free trade agreement, the Ministry of Knowledge Economy said Monday.Korean carmakers’ exports to the EU had declined between 2005 and 2010 as they increased overseas production and diversified export destinations. The EU passenger car market also shrank for four years in a row amid growing fiscal uncertainties in the eur
March 12, 2012
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SK to acquire Australian coal producer
SK Group said it would acquire a 40-percent stake in Australian coal producer Cockatoo Coal Ltd. which has a bituminous coal reserve that amounts to 15 times Korea’s annual imports.SK Networks and other SK affiliates plan to complete the acquisition for at least 380 billion won (about 313 million Australian dollars) within the first half of this year, SK Group said in a press release. Cockatoo runs coal mines in 13 areas in Queensland and New South Wales, the total reserve of which is estimated
March 12, 2012
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Lee Kun-hee’s stock value hits record high
The value of securities held by Samsung Electronics chairman Lee Kun-hee has exceeded the 10 trillion won ($8.9 billion) mark for the first time, setting a new record in Korea’s stock market.According to Chaebul.com on Sunday, stakes held by the nation’s richest entrepreneur came in at 10.1 trillion won at Friday’s close, largely driven by the strong performance of Samsung-affiliated companies. The figure is a 13.7 percent surge from 8.88 trillion won earlier this year, after Lee’s stakes exceed
March 11, 2012
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Homeplus targets sales of 12.2 trillion won this year
Homeplus Co., the South Korean unit of British retail giant Tesco Plc, said Sunday that it is targeting12.2 trillion won ($10.9 billion) in sales this year, up 6.2 percent from a year earlier. Homeplus will also hire 1,000 recruits, the company said in a statement. In an effort to achieve its goal, the discount chain will go ahead with business projects like the opening of a distribution center for fresh food and enhancing its online business.Homeplus is the second-largest discount store chain i
March 11, 2012
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Price-fixing cases surged in 2011: FTC
Price-fixing cases detected by the Fair Trade Commission surged last year, data released by the nation’s antitrust watchdog showed Sunday. According to antitrust authorities, a total of 96 cases of price-fixing were found in 2011, a 41.2 percent increase from 68 cases in the previous year. They said they have filed charges in 23 severe cases, with the figure surpassing the combined number of 19 cases charged over the past four years. The number of cases had decreased in recent years, with seven
March 11, 2012
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Samsung employee summoned over tailing CJ Group chief
Police said Saturday they have questioned an employee of Samsung C&T Corp. for allegedly conducting an illegal surveillance on the chief of CJ Group, amid a growing feud over the family inheritance fight over Samsung, South Korea's biggest conglomerate. The summons came as CJ Group sued the 42-year-
March 11, 2012
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Hyundai Motor allegedly bribed 8 ex-liberal lawmakers in 2006
Prosecutors have secured witnesses that Hyundai Motor Group bribed eight former lawmakers of then ruling liberal party in 2006 while its chairman was on trial over bribery charges, according to prosecution sources Saturday.The special investigation team delving into the savings bank scandal said Kim
March 10, 2012
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Will new iPad run on Korea’s LTE networks?
Questions are arising not only about the new iPad’s launch date but also about its fourth generation network compatibility in Korea after Apple introduced it during an event in San Francisco on Thursday.The latest iPad, which boasts “ultra-fast wireless speeds,”is customized to run not on the 4G Long Term Evolution network, but on the 700 megahertz and 2.1 gigahertz wireless broadband spectrums used by U.S. mobile carriers Verizon and AT&T.The finding not only impacts Korea, a country currently
March 9, 2012
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Hansol acquires firm for power plant business
Hansol EME, an affiliate of Hansol Group, said Friday that it inked an acquisition deal with industrial boiler technology firm SeenTec Co. to dive into the power plant business and secure a new growth engine.The company, specializing in integrated plant projects, signed an agreement with SeenTec this week to acquire a 34.17 percent stake, taking over 3.3 million of its shares worth $33 million in total, according to its officials.The event takes place as the power plant business is projected to
March 9, 2012
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POSCO develops car body frame
POSCO on Friday announced the results of its development of a steel body frame for electric cars that is 25 percent lighter than existing chassis.The use of ultra high strength steel was increased by 40 percent in the new chassis, but it does not require changes in the existing auto production lines, allowing minimized cost increases for mass production of electric cars, POSCO said in a press release.The POSCO Body Concept-Electric Vehicle meets international safety standards for 2015, and reduc
March 9, 2012
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Hyundai, Kia named most fuel efficient carmakers by U.S. agency
Hyundai Motor Co. and Kia Motors Corp. were named the most fuel efficient and environmentally-friendly carmakers by the U.S. Environmental Protection Agency, outperforming rivals such as Toyota Motor Corp.In the EPA’s annual report “Light-Duty Automotive Technology, Carbon Dioxide Emissions and Fuel Economy Trends,” Hyundai and Kia cars for the model year 2010 showed the highest average fuel economy of 27 miles per gallon, or 11.5 kilometers per liter.The two Korean automakers were tied for firs
March 9, 2012
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Seoul to promote safety of its nuclear plants
Korean reactor models demonstrate upgraded safety featuresThe Seoul Nuclear Security Summit on March 26 and 27, which will be preceded by a nuclear industry conference three days earlier, is expected to be an opportunity to show off the technological excellence and safety of Korean atomic power plants.The Korean standard nuclear power plant, which is 95 percent technologically self-sufficient, has risen as a major export item in the country after semiconductors, cars, mobile phones and ships.Sta
March 8, 2012
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LG Uplus to offer service for LTE voice calls in October
LG Uplus Co., South Korea’s smallest mobile carrier, said Thursday that it plans to start voice over long-term evolution service late this year that will enable smartphone users to access better data and voice services.The LTE service, or the fourth-generation wireless technology, enables customers to access a stream of data faster than the current 3G network and download and watch movies more quickly. The VoLTE technology allows users to enjoy high quality voice services as well. “We are aiming
March 8, 2012
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LG chairman orders faster roll-out of OLED TVs
LG Group chairman Koo Bon-moo urged its flagship electronics arm to secure the lead in the organic light-emitting diode television market by rolling out the TV sets earlier than scheduled.During his visit with its affiliates’ chief executives to the group’s research and development conference in Daejeon on Wednesday, he requested an early release of the 55-inch OLED TV, which is currently set to be launched in the latter half of this year.He also asked LG Display to speed up the development of p
March 8, 2012
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Hotels under antitrust probe
The Fair Trade Commission has launched an investigation into the country’s seven top-rated hotels in Seoul on suspicion of colluding to rig the prices of their wedding packages and rooms, according to industry sources and reports Thursday.The seven hotels are Lotte Hotel Seoul, Lotte Hotel World, The Shilla Seoul, The Westin Chosun Seoul, Sheraton Grande Walkerhill, W Seoul-Walkerhill and The Plaza Hotel Seoul.“FTC investigators requested yesterday documents related to our wedding business,” an
March 8, 2012
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Gasoline tops W2,000 per liter
‘Government reviewing sites for 8 more discount gas stations’The average gasoline price in Seoul’s 25 districts rose above 2,000 won per liter, according to the Korea National Oil Corporation Thursday.The average price of gasoline in Gangbuk-gu gas stations hit 2,000 won per liter as of Wednesday 5 p.m., joining other districts.Average gasoline prices in 19 Seoul districts went over 2,000 won per liter in early February. Gwangjin-gu (2,008 won), Dobong-gu (2,023 won), Dongdaemun-gu (2,019 won),
March 8, 2012
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Premium chocolate on sale for White Day
See’s Candies Korea, a local unit of the San Francisco-based candy manufacturer, said it has launched a special offline promotion of its well-known chocolate brands to mark forthcoming White Day in the local market. See’s Candies is best known as one of the early investments bought by Warren Buffett and his Berkshire Hathaway Corp. in the early 1970s. The Korean affiliate said its chocolate and candies including Lollypops would be available at major department stores in Seoul at a special discou
March 8, 2012
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Hyundai Heavy reaches milestone
Hyundai Heavy Industries Co., Korea’s leading shipbuilder, said Thursday that the accumulated gross tonnage of ships it delivered surpassed the milestone 100 million mark, making it the first shipyard in the world to do so.The feat was achieved only 40 years after Hyundai Heavy entered the shipbuilding business in 1972, it said.Hyundai Heavy recorded 10 million gross tonnage of ships in terms of volume in 1986 and 50 million gross tonnage in 2002.So far, Hyundai Heavy has delivered a total of 1,
March 8, 2012
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Korean bakeries look to expand into overseas markets
Paris Baguette shows strong progress in China; Tous les Jours seeks success in Southeast AsiaLocal bakery chain rivals Paris Baguette and Tous les Jours are seeking to expand their international reach with their successful entry into overseas markets. Now they may avoid intense cross-street competition in Korea as they build up their global business in different regions. Paris Baguette, owned by food conglomerate SPC Group, is a big name in China where the company operates 74 stores, the first o
March 8, 2012