Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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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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Hyundai Motor, Kia hit hard by unfavorable exchange rate in H1
South Korea’s two largest carmakers have fallen victim to unfavorable foreign exchange rates that caused an across-the-board drop in earnings in the first half of 2014 despite better sales than last year, industry data showed Sunday.Combined global sales of cars by Hyundai Motor and Kia Motors, flagships of Hyundai Motor Group, the world fifth-largest automotive conglomerate, reached 4,042,960 vehicles in the January-June period, up a solid 5.4 percent from 3,836,445 units tallied for the year b
July 27, 2014
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Asiana Airlines continues upscale push with A380
The Asiana 380 special editionAsiana Airlines on Friday held a launch event for its second A380 jumbo jet at Incheon International Airport, following the acquisition of its first in May. “With the takeover of the second superjumbo jet, I expect more customers will enjoy safer and more convenient long-haul flights with us,” said Kim Soo-cheon, CEO of the nation’s second-largest flag carrier.As part of its upscale push, Asiana has operated its first A380, Airbus’ double-decker luxury aircraft, on
July 25, 2014
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Kakao to launch mobile news service
Kakao Corp., the operator of Korea’s most-used mobile messenger Kakao Talk, is scheduled to launch a news content service later this year.“We plan to start offering news content that collects and shows information from news, blogs and social networking services. For this, the company is in talks with media outlets to open the new mobile service in the second half of this year,” Kakao’s spokesperson said Friday. The service will reportedly be launched in September. Kakao’s move to launch a news s
July 25, 2014
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Daewoo E&C’s earnings jump on housing orders
Daewoo Engineering & Construction, a leading South Korean builder, achieved a better-than-expected 95.7 billion won ($92.9 million) in net earnings in the first half of this year, an 18 percent increase from the same period a year ago, the company said on Friday. Daewoo logged 222.5 billion won in operating profit and 4.53 trillion won in revenue, up 2.2 percent and 5.6 percent, respectively, from the same period last year. Daewoo officials attributed the net profit increase in the first half to
July 25, 2014
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Hyundai E&C’s net earnings surge 20.8% in Q2
Hyundai Engineering and Construction, the nation’s top builder, said Friday its net earnings for the second quarter surged 20.8 percent on-year to 156.9 billion won ($152.1 million), helped by the start of large-scale overseas projects.Operating profit soared 39.3 percent to 279.6 billion won in the same period, with sales numbers jumping 35.5 percent from the year before to a little more than 4.7 trillion won, the company said in a regulatory filing. “The sharp increase in earnings across the b
July 25, 2014
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Kia Motors’ net profit plunges 13.3% in Q2
Kia Motors Corp., South Korea’s No. 2 automaker, said Friday its net income for the second quarter plunged 13.3 percent on-year to 1.02 trillion won ($988 million), due to unfavorable exchange rates that offset gains in the total number of cars it sold. Operating profit also nosedived 31.7 percent to 769.7 billion won in the same period, with earnings generated by sales falling 8.1 percent to 12.05 trillion won, the company said in a regulatory filing.Kia reported selling 775,253 cars in the thr
July 25, 2014
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SK Innovation Q2 net income falls to red
SK Innovation, the holding company of SK Group’s energy units, including SK Energy, said Friday its net income swung to the red from a year earlier due to a weak refining margin and foreign exchange losses.Net loss reached 23 billion won ($22.33 million) in the April-June period compared with a year ago when the company logged 267 billion won of net profit, the company said in a regulatory filing. The company also posted an operating deficit of 23 billion won, while its sales dropped 2.1 percent
July 25, 2014
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Businesses object to cash reserve tax
A local corporate lobby on Thursday expressed deep concerns about a controversial plan unveiled by new Finance Minister Choi Kyung-hwan to tax companies’ cash reserves as part of a bigger blueprint to help revive the economy. “The corporate sector agrees with the government’s new policies aimed at increasing household income to boost domestic consumption. However, policymakers need to exercise precaution so as not to add burden on companies,’’ said Doosan Group chairman Park Yong-maan, who leads
July 24, 2014
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Hanwha E&C completes world’s largest domed arena
Philippines President Benigno Simeon Cojuangco Aquino III (on screen) on Monday delivers a congratulatory speech during a ceremony celebrating the completion of the Philippines Arena built by Hanwha Engineering & Construction. (Hanwha E&C)Hanwha Engineering and Construction Corp. on Monday celebrated the completion of the Philippines Arena, the world’s largest domed arena, in the Philippines.The ceremony was attended by some 60,000 people including Philippines President Benigno Simeon Cojuangco
July 24, 2014
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Ssangyong Motor strikes wage deal
Ssangyong Motor Co., the local unit of Indian sport utility vehicle maker Mahindra & Mahindra, said Thursday that its management and union have agreed to raise wages and count regular bonuses as ordinary wages, the first South Korean carmaker to do so this year.The carmaker said the agreement received 52.37 percent approval from workers, after it was reached at the negotiation with union representatives held at its Pyeongtaek plant some 70 kilometers south of Seoul on Wednesday. Ssangyong said t
July 24, 2014
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POSCO’s net profit doubles in second quarter
POSCO, South Korea’s top steelmaker, said Thursday its second-quarter net income more than doubled from a year ago, mainly due to better earnings from its foreign operations. Net profit stood at 487 billion won ($474.8 million) in the April-June period, up 102 percent compared to 241 billion won tallied a year earlier, POSCO said in a regulatory filing. Overall revenues as outlined in the consolidated report rose about 7 percent to 16.7 trillion won in the three-month period with operating profi
July 24, 2014
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What is Hydro Asia?
Hydro Asia is the largest regional meeting to discuss water issues on an academic level. The event has been held in Korea since 2007 and K-water took over hosting the regional event from 2014. The event originates from Hydro Europe, created by the University of Nice in France, which implemented the launch of the program in association with six European universities in 2001. The objective of Hydro Europe is to promote ― in a global European vision ― the key concepts, methodologies, tools and good
July 24, 2014
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[Herald Interview] Hydro Asia 2014 highlights climate change and water issues
Climate change is emerging as a critical factor in the development of a sustainable water management model as many countries across the world have suffered from various water-related natural disasters, such as unprecedented drought and floods triggered by changing climate conditions.“Climate change is no longer a story that we are far from, but it is a serious problem that we are facing today,” said Choi Gye-woon, CEO of Korea Water Resources Corp. ― also known as K-water ― in his opening remark
July 24, 2014
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Preparing for worst saves lives: flood expert
People working on water management issues should always assume and prepare for the worst when it comes to natural disasters and climate change, according to Philippe Gourbesville, the director of Polytech Nice Sophia in France. “The key to understanding the importance of water management is the uncertainty of the future. In the past, it was easy to predict with statistics. The problem now is that we have just realized that the future (climate and environment) will change and we need to be prepar
July 24, 2014
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Paris Baguette opens first store in Paris
SPC Group’s bakery brand Paris Baguette landed in Paris on Wednesday with hopes of wooing French customers in their home country. The new store, named Paris Baguette Chatelet, is located near the Pont Neuf Bridge, Notre Dame Cathedral, Louvre Museum and other tourists’ destinations, according to SPC. It is the first Paris Baguette outlet to open in Europe. “We regard France as the spiritual home of our bakery products,” said SPC Group chairman Hur Young-in. “The opening of our Paris store highli
July 23, 2014
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Windshield navigation may become a reality
Displaying navigation information on car windshields may become reality in about a decade, according to a local display expert. “If thin, transparent and curved display panels could be attached to a windscreen, drivers would be able to see navigation information displayed there,” Chu Hye-yong, head of the Electronics and Telecommunications Research Institute’s display research department, said in an interview with The Korea Herald. The related technology is expected to become commercialized by n
July 23, 2014
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Osong bio expo to offer glimpse of future life
The upcoming international bio exposition in South Korea will provide visitors with a glimpse into the life that biotechnology will bring about, its organizers said Wednesday. The Osong International Bio Industry Exposition, set to kick off in September in the country’s central city of Osong, “will present how life will look like in the future in accordance with the development of the cell-based industry,” said Lee Cha-young, secretary general of its organizing committee.“The Bio Future Hall, on
July 23, 2014
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Paris Baguette opens first store in Paris
SPC Group’s bakery brand Paris Baguette landed in Paris on Wednesday with hopes of fulfilling its aspirations to woo European customers in their home country. The new store, named Paris Baguette Chatelet, is located near the Pont Neuf Bridge, Notre Dame Cathedral, Louvre Museum and other tourists’ destinations, according to SPC. It is the first Paris Baguette outlet to open in Europe. “We regard France as the spiritual home of our bakery products,” said SPC Group Chairman Hur Young-in. “The open
July 23, 2014
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[Graphic News] Korea’s venture firms with sales above $100m on the rise
South Korea’s venture firms appeared to be increasingly emerging as the new growth engine of the economy, according to figures from the Small and Medium Business Administration released Monday. Of the 69,801 venture firms in the country, 454 reported over 100 billion won ($97.6 million) in sales last year, up 9.1 percent from 2012. The number has steadily increased from 78 in 2005 to 202 in 2008 and 381 in 2011, the SMBA said. The combined sales of the venture firms were tallied at 101.2 trillio
July 22, 2014
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Flight attendants of Asiana back to work
Some of the Asiana Airlines flight attendants hailed as heroes for helping passengers to safety after the crash-landing of Flight 214 at San Francisco International Airport a year ago have returned to work.According to airline and industry sources on Tuesday, four of the 12 crew members onboard the flight, including the cabin manager Lee Yoon-hye, returned to work this month, stationed in the same posts they had prior to taking leave. “They were allowed to choose from new posts, but all the retu
July 22, 2014