Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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Bio expo looks to meet target with 700,000 visitors
An international bioindustry exposition underway in Cheongju, North Chungcheong Province, has attracted more than 700,000 visitors in the first 13 days of opening, organizers said Friday, raising hopes the little-heralded city could emerge as a leading hub of biotechnology.The Osong International Bio Industry Exposition kicked off on Sept. 26 for a 17-day run. The brainchild of the local government and the trade ministry, the event hopes to garner at least 800,000 visitors by Sunday’s closing.Wi
Oct. 10, 2014
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Korean shipbuilders nudged out by Japanese rivals
South Korean shipbuilders fell behind their Japanese rivals in winning new orders for the third time this year in September, disadvantaged by the weakening Japanese yen, an industry tally showed Friday.Chinese shipbuilders ranked No. 1 in September, followed by Japanese players and South Korean companies, according to data by global market researcher Clarkson Research Services.South Korean shipbuilders lost to Japanese competitors in April and June this year as well. Local shipbuilders obtained
Oct. 10, 2014
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Chinese firm becomes No. 2 shareholder of local film studio
A Chinese entertainment company has become the second-largest shareholder of a leading South Korean film company known for distributing such box-office hits as “The Attorney” and “Miracle in Cell No. 7,” the distributor said Friday.China’s Huace Film & TV Co. purchased 15 percent of new stocks worth 53.5 billion won ($49 million) issued by New on Tuesday, becoming the distributor’s second-largest shareholder behind its president, Kim Woo-taek, who holds a 45 percent stake, New said.It is rare fo
Oct. 10, 2014
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KOGAS hopeful on pitch for global gas forum
The state-run Korea Gas Corp. on Friday said it hoped its efforts to help Daegu win its bid to host the 2021 World Gas Conference would pay off, adding that it believes Daegu has a good chance at winning. Daegu, Korea’s third-largest city, is vying in fierce competition against strong contenders including cities in Norway, Russia and China to win the global event that over 6,000 industry leaders are expected to attend. “We will continue to work till the end to help Daegu clinch the bid,” said KO
Oct. 10, 2014
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Korean shipbuilders nudged out by Japanese rivals in Sept.
South Korean shipbuilders fell behind their Japanese rivals in winning new orders for the third time this year in September, disadvantaged by the weakening Japanese yen, an industry tally showed Friday.Chinese shipbuilders ranked No. 1 in September, followed by Japanese players and South Korean companies, according to data by global market researcher Clarkson Research Services.South Korean shipbuilders lost to Japanese competitors in April and June this year as well. Local shipbuilders obtained
Oct. 10, 2014
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[Graphic News] Half of major firms’ board members come from SKY, overseas schools
Almost half of the executives at affiliates of the nation’s top 10 companies were found to be graduates of South Korea’s leading three universities or from schools abroad, according to Chaebul.com, a website devoted to conglomerate data. Up to 594 ― or 23.9 percent ― of the 2,483 surveyed executives were graduates of Seoul National University, Korea University and Yonsei University, while another 22.6 percent were from overseas universities as of last year. Among the executives, 10.2 percent wer
Oct. 9, 2014
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Ex-diplomat named KEI vice president
WASHINGTON (Yonhap) ― A former deputy chief of mission at the U.S. Embassy in Seoul has been appointed vice president of the Washington-based think tank Korea Economic Institute of America, the institute announced Wednesday.Mark Tokola retired as a career diplomat after 38 years of experience in the U.S. Department of State, where he served as the deputy chief of mission at the U.S. embassies in South Korea, Mongolia and Iceland. Most recently, he served as the minister-counselor for political a
Oct. 9, 2014
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[Herald Interview] Doota to export fashion know-how
Doota, or Doosan Tower shopping center, has been taking a different approach to globalization. Instead of designers and their designs, it has decided to export its expertise in managing shopping malls. Doota recently provided consulting to two Chinese shopping malls that are now in operation, and is in talks with others to provide similar services. “We have decided that it would be risky to take everything abroad. So, instead of rushing to export our fashion hardware, we will be selling our soft
Oct. 9, 2014
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Hanwha E&C cheers for Iraq at Asian Games
Hanwha Engineering and Construction, which is recently expanding its presence in the booming Iraqi construction market, showed its support for the Iraqi team and athletes during the Incheon Asian Games that ended last week. On Oct. 2, some 100 Hanwha E&C officials gathered at the Incheon Football Stadium where the bronze medal match in men’s football was held between Iraq and Thailand. Despite the rainy weather, they cheered enthusiastically for the Iraqi team. Iraq beat Thailand 1-0, clinching
Oct. 9, 2014
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Foreign firms back Korea’s film industry
Global companies doing business in South Korea are stepping up engagement in the local film industry as part of their social responsibility activities. JTI Korea, the Japanese tobacco company’s local unit, is no stranger to the film scene.The firm has been offering support for film festivals here since 2011, and this year it has set up a smoking lounge with portable ashtrays at the Busan International Film Festival. During the festival period, it is also conducting campaigns to promote proper sm
Oct. 8, 2014
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E-commerce boom set to boost Incheon Airport
South Korea’s Incheon International Airport has the potential to rapidly rise as a major hub for global freight logistics on the back of strong growth in e-commerce in Asia, experts said at an aviation forum. Government officials, corporate executives and academic professionals gathered at the 27th International Air Cargo Forum and Exposition, hosted by the state-run Incheon International Airport Corp., in Seoul on Wednesday.They discussed air cargo capability and the prospect of Incheon Airport
Oct. 8, 2014
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Growth in air travel drives jet orders: Boeing
A visiting commercial aircraft market specialist forecast that the industry would continue to experience a boom in business, driven by a steady growth in plane orders over the next two decades. “As we look at the global aviation market, it’s a good market. Frankly, it is getting better,” Randy Tinseth, vice president of marketing at Boeing Commercial Airplanes, said in a press conference at the Conrad Hotel in Seoul on Wednesday. Randy Tinseth, vice president of marketing at Boeing Commercial A
Oct. 8, 2014
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Korean SMEs expect lower or unchanged sales in 2014: poll
South Korean small and medium enterprises expect this year’s sales to remain unchanged or dip compared to 2013, a poll conducted by the lobbying group for large conglomerates showed Wednesday.The survey, carried out on 690 companies in September by the Federation of Korean Industries, revealed that 36.5 percent of the 326 respondents predict sales figures will be on par with last year, with 34.1 percent anticipating lower sales.Of the companies asked, only 29.4 percent of SMEs expected sales to
Oct. 8, 2014
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Kia K5 hybrid wins German innovation awards
Kia Motors, South Korea’s second-largest automaker run by Hyundai Motor Group, said Wednesday it has won innovation awards in Germany for its K5 hybrid vehicle. Also known as the Optima hybrid in some foreign markets, the car won Plus X Awards in four areas ― High Quality, Design, Ease of Use and Ecology ― out of a total seven categories, according to Kia officials. The German prize, handed out to products based on their level of innovation as judged by professionals and journalists in related f
Oct. 8, 2014
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Daum Kakao to adopt 'privacy mode' amid gov't monitoring fears
Daum Kakao, the operator of South Korea's most popular mobile messenger Kakao Talk, said Wednesday it plans to adopt a "privacy mode" in an apparent bid to allay users' concerns about security."The new privacy mode in Kakao Talk will encrypt chat records and erase received messages," Daum Kakao said, adding that the service will be launched this year. The new feature will be available for users from all countries, it added.Under the new feature, which uses end-to-end encryption, chat records wil
Oct. 8, 2014
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Korean SMEs expect lower or unchanged sales in 2014: poll
South Korean small and medium enterprises (SMEs) expect this year's sales to remain unchanged or dip compared to 2013, a poll conducted by the lobbying group for large conglomerates showed Wednesday.The survey, carried out on 690 companies in September by the Federation of Korean Industries (FKI), revealed that 36.5 percent of the 326 respondents predict sales figures will be on par with last year, with 34.1 percent anticipating lower sales.Of the companies asked, only 29.4 percent of SMEs expec
Oct. 8, 2014
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Air cargo industry leaders stress cooperation
Cooperative relationships among airfreight players are essential in achieving common goals for providing better service, global experts said at an international aviation logistics forum Tuesday.The 27th International Air Cargo Forum & Exposition, organized by The International Air Cargo Association, provided a platform for some 3,000 airfreight decision makers to meet and tackle some of the industry’s toughest issues, including technology innovation, information sharing and environmental issues.
Oct. 7, 2014
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Asiana Airlines gets top marks in local customer satisfaction indexes
Asiana Airlines, South Korea’s second-largest air carrier, said Tuesday that it received the top marks from the three most highly rated customer satisfaction indexes in the country.Asiana was ranked No. 1 on the Korean Customer Satisfaction Index, the Korean Standard-Service Quality Index and the National Customer Satisfaction Index, which were carried out nationwide earlier in the year.The KCSI report was based on one-on-one interviews with people living in six major urban areas here from April
Oct. 7, 2014
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Imported car sales surge 34.4% in September
Imported car sales in South Korea surged 34.4 percent on-year in September on strong demand for foreign car brands by consumers, a local trade association said Tuesday.The monthly sales figure of 17,027 vehicles represents a significant gain from 12,668 units sold a year earlier, the Korea Automobile Importers and Distributors Association said. It is also a 3.6 percent gain from the month before.The total is equal to 13.3 percent of the 127,627 new cars sold in the country last month. This figur
Oct. 7, 2014
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Samsung Heavy inks W471.8b deal for ice-breakers
The world’s third-largest shipbuilder Samsung Heavy Industries Co. said Tuesday it has clinched a 471.8 billion won ($443.2 million) order from a Russian firm to build three arctic tankers.The deal to build the 42,000-ton capacity ships, each capable of traversing the Arctic Ocean, was signed with Russia’s state-run shipping firm Sovcomflot, the shipbuilder said in an emailed statement. The new order marks Samsung Heavy’s second such deal to be made with the Russian company. The South Korean shi
Oct. 7, 2014