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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S. Korea, Singapore seal supply chain agreement
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Netflix, streaming platforms come under fire for loose ratings
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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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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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K-pop CEOs sidestep key issues at National Assembly audit
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Apple seeks order banning older Samsung phones
Apple, following a jury verdict that Samsung Electronics infringed three of its patents, is seeking a U.S. sales ban on some older models of the South Korean company’s smartphones.Apple, which on May 2 won $120 million of the $2.2 billion it sought, identified nine devices it wants barred in a filing yesterday with U.S. District Judge Lucy Koh in San Jose, California.Winning a ban may prove difficult for Apple because Koh, who also presided over the companies’ first U.S. trial in 2012, twice rej
May 25, 2014
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Kakao-Daum tie-up rumored
Rumors are rising that Kakao, the nation’s top mobile messenger provider, and Daum Communications, the nation’s second-largest Internet portal company, are again seeking a tie-up.According to sources in the investment banking industry, the boards of the two tech giants met last Friday to discuss a possible merger through a stock swap.“The deal could offer a new business opportunity to the both companies,” an anonymous stock analyst said.Daum Communications has been seeking to go mobile as a way
May 25, 2014
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Cuba’s deputy trade minister to visit Korea for investment talks
Cuba’s deputy trade minister will visit South Korea this week, becoming the highest ranking official from the Latin American country to do so since the countries’ diplomatic ties were severed in 1959, a local trade agency said Sunday. Ileana Nunez Mordoche, deputy minister for foreign trade and investment, will arrive here Monday for an investment fair and hold one-on-one meetings with South Korean firms interested in investing in Cuba, according to the Korea Trade-Investment Promotion Agency.Th
May 25, 2014
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North Korea importing large number of digital TVs
North Korea’s imports of digital television sets from China have more than quadrupled this year, a South Korean trade group said Sunday, amid reports that the country is moving to introduce digital TV broadcasting.In the first four months of the year, China shipped digital TVs amounting to some $17.66 million to North Korea, up 338 percent from $4.02 million during the same period last year, according to the Korea International Trade Association.The figure is the fifth-largest amount for any sin
May 25, 2014
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Postal banking services suffer network failure
The state-run Korea Post offering postal banking services said on Sunday that it fully recovered from a computer network failure that occurred early Saturday morning. A computer system failure caused suspension in postal banking services for more than two hours on Saturday, officials said.The accident happened around 5 a.m., bringing all Korea Post banking services down, such as withdrawals and deposits through ATMs, money transfers, credit card payments and smartphone banking. Normal services r
May 25, 2014
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Samsung chairman regains consciousness
Samsung Electronics chairman Lee Kun-hee, being treated in hospital after a heart attack over the past two weeks, has regained consciousness, the company said Sunday.Lee, 72, was operated on at Samsung Medical Center in southern Seoul on May 11 after a heart attack.He was transferred to VIP hospital room on May 19 from an intensive care unit at the hospital, according to the hospital.“Lee was transferred to the ordinary ward and has recovered from an unconscious state. His response to diverse st
May 25, 2014
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[Weekender] Accessorize Accessorize Accessorize
“Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.” -Coco ChanelStyle and fashion. Who can live without them?Especially in an age where people are not shy about expressing themselves and want to advertise what they are all about, having a unique sense of style is certainly a plus.Shoes, purses, ties, watches, rings, earrings and scarves ― these are all items that people use to spice up th
May 23, 2014
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[Weekender] Korea still lacks affordable secondary lines
A growing number of global luxury fashion powerhouses are tapping into secondary lines for mass-market consumers.The reason is simple: to offer affordable styles without losing their exclusive status and reputation. Another reason is because if they don’t somehow embrace the part of the population who want high-end and ready-to-wear, their businesses could suffer down the road. However, the trend has not yet caught on in Korea, where more and more shoppers and fashionistas are clamoring for such
May 23, 2014
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[Weekender] Brands rush to find middle ground
In the world of fancy footwear and watches, a new philosophy is unfolding: Keep it chic and classic like a Manolo Blahnik or a Rolex, but with cheaper price tags. Traditionally, the accessories market has been divided into either high-end or, well, the low ― indicating products that are largely affordable for the masses. But these days, people are looking for style items that are aesthetically pleasing, yet would not make one’s jaw drop upon seeing the price tag, according to industry watchers.
May 23, 2014
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[Weekender] Let the shoes do the talking
Kwon Ji-won, 33, who works as a human resources manager at a local consulting firm, is the certified shoe-buff at her office.“I prefer shoes to other fashion items as a form of expressing myself,” she said, introducing herself as a high-heel maniac. “Anything that has a high heel, I am all for it.”Aside from the stilettos, her collection runs a wide gamut from sneakers and sandals to ballerina flats and thigh-high boots. The price tags also are as diverse as her collection: Some are more than af
May 23, 2014
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Hanwha Group ventures into solar power business in Turkey
Hanwha Group has recently established a branch in Turkey in what was seen as a move to grab one of the world’s fastest-growing solar power markets. Hanwha Chemical, responsible for managing the energy unit, said a Turkish branch of Hanwha Q Cells was recently set up. This unit is searching for business opportunities involving installing and distributing solar energy tools and solutions.“Things are still in the early stages but we are seeing a lot of potential in Turkey,” a Hanwha Chemical offici
May 23, 2014
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Hyundai adopts 2-track pricing strategy for Sonatas in U.S
Hyundai Motor, South Korea’s largest carmaker, has adopted a two-track pricing strategy for its brand new Sonata sedan, asking for a “fair price” for higher trims while strengthening the value proposition for more mainstream models that will be sold in the highly competitive U.S. market, company officials said Friday.The automaker is offering eight trim levels for the 2015 model year Sonata, two more than the outgoing sixth-generation sedan. It said by adding more choices, consumers can pick the
May 23, 2014
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Commerce minister urges public firms to normalize
South Korea’s commerce minister on Friday urged continued efforts by public firms, especially energy companies, to reduce their debts and enhance their productivity as the government pushes speedy normalization of their debt-laden business and lax management.The renewed call came at a special meeting with the heads of 16 public firms under the wings of the Ministry of Trade, Industry and Energy to review their promised efforts.“While urging the company heads to implement their earlier normalizat
May 23, 2014
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Will Samsung join Qualcomm’s AllJoyn open source platform?
Samsung Electronics is considering joining Qualcomm’s AllJoyn project, but there is some debate over the possibility as Samsung is currently developing its own Internet of Things platform, industry watchers said Wednesday. AllJoyn is an open-source platform that allows all smart devices ― regardless of brand ― to recognize each other and share information. Simply put, Samsung and LG’s smart home appliances and electronics can become compatible through this communication protocol. The platform, w
May 22, 2014
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Korea expands global transport partnership
South Korea is seeking to expand its ties with other nations in finding transport solutions to global challenges such as urbanization and climate change. A Korean delegation, led by Vice Transport Minister Yeo Hyung-koo, participated in the International Transport Forum, which kicked off its three-day program Wednesday in Leipzig, Germany. The annual summit, which used to only convene European countries, now invites policymakers and industry leaders from 54 countries around the world. Vice Trans
May 22, 2014
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Integrated resorts seen as cash cows for gaming biz
MACAU ― In a struggle to challenge Macau in the casino business, up-and-coming players such as Singapore have introduced the concept of integrated resorts, incorporating a wide range of nongaming tourist content alongside gaming facilities.This business spread throughout the gaming industry, where there is a general acknowledgement that the industry’s growth may be limited if it relies solely on the conventional gaming business.“Game operators may seek to expand their casinos, their range of gam
May 22, 2014
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SPC opens Paris Baguette outlets in Boston, California
Paris Baguette on Massachusetts Avenue in Boston. (SPC)SPC Group opened two Paris Baguette outlets in the U.S., the food maker said Thursday. The 246.3-square-meter store on Massachusetts Avenue in Boston is expected to draw MIT and Harvard University students as well as commuters using Central Square Station nearby.The Milpitas store in California is situated near the South Bay and Nimitz freeway junction. “We are hoping the stores will promote Paris Baguette’s brand image in the U.S. because y
May 22, 2014
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Hyundai Mobis to invest W1.8tr in R&D by 2015
Hyundai Mobis, South Korea’s largest car parts manufacturer, said Thursday it will invest 1.8 trillion won ($1.75 billion) into research and development by next year to improve its global competitiveness.The company, an affiliate of the world’s fifth-largest automotive group Hyundai Motor Group, said in its latest sustainable growth report that the injection is part of a greater goal of becoming one of the global top five in the industry by 2020. At present, the company ranks eighth overall.The
May 22, 2014
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[Herald Interview] ‘Foreigners only’ law may dent Korea’s casino plans
MACAU ― The casino business is one of the very few industries that has been enjoying double digit growth over the years, especially in Asia, but whether South Korea will be able to take its share of the pie is yet to be seen.The greatest factor in its chances of success is whether the government will open up the market and end the ban on gambling for Korean citizens, according to a leisure business expert.“Compared to Macau or Singapore, Korea’s gambling market is small, but it offers huge oppor
May 21, 2014
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Uniqlo, Zara, H&M sales exceed W1tr
A Uniqlo store in Jamsil-dong, Seoul. (Bloomberg)The sales of Uniqlo, Zara and H&M, known as the troika of specialty store retailers of private label apparel (SPA), surpassed 1 trillion won ($974 million) last year in South Korea, the Financial Supervisory Service said Wednesday. The figure is up some 30.7 percent from the previous year, suggesting that the SPA market is still in its heyday despite a dull forecast by market insiders. According to the report, Uniqlo reported 694 billion won in sa
May 21, 2014