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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EUCCK job fair in Busan
The European Union Chamber of Commerce plans to hold a global job fair where interested participants can explore various vacancies while engaging with people who have real work experience in Busan.It is not always easy to research and find suitable vacancies at foreign firms in Busan even though it is the nation’s second-largest city.Starting at 2 p.m., the event on March 7 at BEXCO is run by recruitment teams for global brands such as ABB, Lloyd’s Register, Rolls Royce Marine, ibis Hotel and ma
March 5, 2012
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New design for The One Impact
KT&G Corp., Korea’s largest tobacco producer, said it plans to release a repackaged version of its The One Impact cigarettes starting Monday. The renewed One Impact, the latest in its six-variety range, comes in sky blue packaging and gives a rich flavor despite lower levels of tar, the Seoul-based manufacturer said. Introduced in March 2011, the product contains 1 milligram of tar and 0.1 milligram of nicotine. It costs 2,500 won ($2.2) per pack. (heeshin@heraldm.com)
March 5, 2012
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Maersk benefits from Korea’s economic ascent, e-commerce boom
Chief of Korea unit forecasts up to 6% growth for 2012While spiraling oil prices, falling rates and the oversupply of ships cast a blight over many shipping companies at home and abroad, Maersk Korea Ltd. appears rather bullish. A growing thirst for Korean products around the world, coupled with a global e-commerce boom, is helping keep the world’s largest shipping line afloat amid the industry’s biggest crisis in years. Yet, this drift will only continue in the coming years, the chief of the Da
March 5, 2012
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Korea signs contract to develop three oil fields in UAE, eyes production in 2014
Korea on Monday signed a deal to develop three oil fields in the United Arab Emirates which are expected to produce up to 43,000 barrels of crude oil a day from as early as 2014.A consortium of the Korea National Oil Corporation and GS Energy inked a 30-year contract with the Abu Dhabi National Oil Company for joint exploration of one offshore and two onshore oil fields, the Ministry of Knowledge Economy said. Korea became the fifth country after the United States, Britain, France and Japan to d
March 5, 2012
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Chinese handset makers on the rise
Korean tech firms admit gap is fast narrowingBARCELONA, Spain ― Amid the absence of the world’s largest smartphone maker Apple, Korea’s Samsung and LG ― the market No. 2 and 3 respectively ― were dominant players during the Mobile World Congress that ended Thursday in Barcelona.But the companies that made a real impression at the industry’s largest trade show this year were Chinese vendors such as ZTE and Huawei.Huawei rebranded itself as a high-end handset maker, touting its quad-core phone Asc
March 4, 2012
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KEPCO project financing named ‘deal of the year’
Korea Electric Power Corporation said Sunday its financing for the construction and operation of a gas combined-cycle power plant in Mexico was named by global financial magazine Euromoney as the “Power Deal of the Year” in Latin America.A consortium led by KEPCO completed the project financing of $330 million, or about 80 percent of the project cost, for the 433-megawatt Norte II gas combined-cycle power plant ordered by Mexico’s state power company Comision Federal de Electricidad.Euromoney aw
March 4, 2012
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Pioneer of white broth instant noodles losing steam
The white broth instant noodles market is taking a new turn with the hit Kkokkomyeon giving way to rival Nagasaki Jjamgppong. Paldo Co.’s Kkokkomyeon, which uses chicken broth, started the frenzy for white broth last year in the Korean instant noodle market traditionally dominated by ramyeon with its red-hot chili favored soup. Kkkomyeon and Nagasaki Jjamppong accounted for a fifth of all ramyeon sales at one point.The award-wining Kkokkomyeon sold more than 100 million packets in just over five
March 4, 2012
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Where next for Samsung, Apple patent dispute?
Samsung to appeal German ruling, but sources say two tech giants could agree on cross-license deals in the futureThe future of the patent dispute between global IT behemoths Samsung Electronics and Apple Inc. is uncertain following a German court’s dismissal of two patent suits on Friday.The Mannheim Regional Court in Germany on Friday rejected a patent infringement suit filed by Samsung against its U.S. rival over its third generation wireless technology, while also dismissing Apple’s claim tha
March 4, 2012
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Apple, Samsung lose patent suits against each other in Germany
Apple Inc. and Samsung Electronics Co. both lost patent cases against each other in a court in Germany on Friday in the latest twist in the long-running battle between the two electronics powerhouses over mobile phones and tablet computers.The Mannheim Regional Court turned down Samsung’s attempt to defend its mathematical coding procedures in processors. It also rejected Apple’s claim over features for unlocking touch screens. Delivering the verdict, Presiding Judge Andreas Voss said neither c
March 2, 2012
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Hynix pushes up SK Group’s exports
SK Group’s exports hit an all-time high between January and February, prompted by robust sales from its new affiliate Hynix Semiconductor, the Korean industrial group said Friday.The group said its seven affiliates together registered 10.6 trillion won ($9.5 billion) in exports in the first two months of this year, up nearly 36 percent from a year ago.Exports accounted for more than 71 percent of their combined sales, which came in at 14.9 trillion won during the two-month period, the group note
March 2, 2012
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Google implements controversial new privacy policy
Google’s controversial privacy policy revamp was put into effect Thursday, although the Internet giant was under pressure from regulators and civic groups in Korea who voiced concerns over its plan to merge user data.Under the new scheme, information from some 60 Google services such as its flagship search engine, Gmail and YouTube will be treated as a single trove of data.The consolidation of private data has prompted privacy concerns globally, as it appears almost impossible to opt out of Goog
March 1, 2012
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Biosimilars hog limelight at biotech forum in Seoul
Merck, Celltrion, Hanwha show off progress, boost prospects at specialized eventBiotechnology and medical experts on Wednesday underscored the significance of biosimilars as a key driving force behind the global pharmaceutical industry at a forum in Seoul.Some 250 officials at drug companies, state agencies and consultancies from around the world took part in the 2012 Global Biopharma Technology and Policy Forum hosted by the European Union Chamber of Commerce in Korea and the state-run Korea He
March 1, 2012
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KT mobile chief focuses on service quality
BARCELONA, Spain ― Pyo Hyun-myung, president of the mobile business unit at KT Corp., said Tuesday that the company would not compete with other telecom carriers to be the first to offer voice calls on the Long Term Evolution network. “Goals like starting the voice-over-LTE within the year are more like rhetoric from the perspective of service providers. What’s more important is the service quality regardless of whether it’s 3G or 4G,” he told reporters at the Mobile World Congress being held in
Feb. 29, 2012
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Samsung vows to stamp out collusion
Amid simmering criticism over collusion and price fixing among industry giants, Samsung on Wednesday mapped out a set of measures to head off the rampant illicit practices within Korea’s largest conglomerate.The package, a follow-up to its November program, is aimed at establishing “systemic safeguards against any temptations to collude in tough business environments,” Samsung Group said in a statement. Under the plan, the company will conduct regular monitoring on all affiliates, expand its e-m
Feb. 29, 2012
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Homeplus chief’s remarks against SSM regulation get mixed reaction
Major discount store chains oppose rules that limit business hoursA sharply worded remark by the chief of the nation’s second largest supermarket chain against politicians over the regulation of the retail giants’ business hours aroused mixed views across the industry Wednesday. The central and local governments are pushing for banning large retail outlets’ activities from midnight through 8 a.m. and making them close for a day or two a month under a law that passed the National Assembly late la
Feb. 29, 2012
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[News Focus] Will Samsung chief take legal action against siblings?
Industry sources say Samsung is on the lookout for lawyerAll eyes are on the future course of action Samsung Electronics chairman Lee Kun-hee will take in response to inheritance suits from his sister and brother.Industry sources close to the matter raised the possibility that Lee will refuse compromise and seek to end the dispute through a legal means. The sources said the country’s largest conglomerate is currently on the lookout to hire a lawyer who would officially take charge of the legal p
Feb. 29, 2012
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Samsung, BMW to partner on batteries, software
Samsung president Lee Jae-yong in Germany to meet executives at BMW, SiemensSamsung Electronics Co. will partner with BMW to combine more of its technology with the German vehicles’ battery and in-car software, Samsung said on Wednesday. A team of Samsung executives led by CEO Lee Jae-yong left for Munchen earlier in the day for a series of meeting with counterparts at BMW and Siemens, including Norbert Reithofer, CEO of BMW, according to Samsung.“COO Lee had a meeting with Dr. Reithofer and bot
Feb. 29, 2012
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Is the pen mightier than the finger?
Samsung, LG unveil stylus devices at Barcelona mobile fairBARCELONA, Spain ― At the Mobile World Congress in this Barcelona, tech geeks from around the world were often spotted checking out new gadgets at the exhibition booths of Samsung and LG. They were tackling something believed to have died off in the tech scene ― writing with a stylus. Both Korean tech giants had unveiled stylus devices as new strategic products on Monday with the opening of the telecom industry’s largest trade show. Inste
Feb. 29, 2012
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KT gearing towards globalization of NFC service
Firm jointly features NFC roaming coupon service with DoCoMo in BarcelonaBy Cho Ji-hyunKT Corp. announced Tuesday that it will launch the near field communication roaming coupon service for the first time together with Japan’s NTT DoCoMo beginning in April.Demonstrating the NFC coupon service at the Mobile World Congress in Barcelona, the firm said owners of its NFC mobile phones will be able to download discount coupons by placing their handsets on smart posters or reading the QR codes displaye
Feb. 28, 2012
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Samsung’s biosimilar joint venture officially takes off
Samsung Group said Tuesday that a joint venture has been established between its affiliate Samsung Biologics and U.S.-based Biogen Idec to develop, manufacture and market biosimilars.Named Samsung Bioepis Co., the new company will be headed by Samsung’s Ko Han-sung, who served as the senior vice president of Samsung strategic business development unit.With Samsung Biologics investing 85 percent for the joint venture and the remaining amount injected by its U.S. partner firm, the research and dev
Feb. 28, 2012