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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S. Korea, Singapore seal supply chain agreement
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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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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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Korean language teaching expert says demand has outstripped supply
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Mando Corp. to divide into investment, manufacturing firms
(Yonhap) -- Mando Corp., one of South Korea's largest car parts manufacturers, said Monday that it will be splitinto two separate companies to enhance overall competitiveness and improve transparency.The car parts arm is to become an independent corporate entity focused on production and research and development, with the investment unit to act as the holding company, it said.The holding company, tentatively named Halla Holdings, will take change of all future investments in its affiliate.Mando,
April 7, 2014
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Conglomerates earmark W1.71t to help partners develop new growth engines
South Korea's top 30 conglomerates earmarked 1.71 trillion won ($1.62 billion) this year to help partner companies and vendors develop new growth engines this year, the lobbying group for the country's big businesses said Monday.The Federation of Korean Industries said the total to be offered marks a 7.6 percent increase from the year before. In 2013, large businesses provided 1.59 trillion won to smaller partners.Of the total, 559.2 billion won will go to assisting sales and purchases, 452.7 bi
April 7, 2014
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[Herald Interview] ‘Jam Boy’ talks life beyond money-making
The success story of “Jam Boy” Fraser Doherty, founder of SuperJam, has almost become legend. At the age of 10 he was a door-to-door sausage salesman. By the time he turned 14, he had become a jam maker after learning his grandmother’s secret recipe that replaced sugar with highly reduced fruit juice. In 2013, more than 1 million jars of SuperJam were sold in 20 countries grossing 3.4 billion won ($3.3 million) in sales. In Korea, more than 30,000 jars of SuperJam have been sold here since its K
April 6, 2014
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IKEA Korea opens Facebook page
IKEA Korea opened its official Facebook page, www.facebook.com/IKEA.kr, to release IKEA concept and brand posts.The Swedish furniture retail giant is scheduled to open its first outlet in Gwangmyeong, Gyeonggi Province, in November. The store is expected to sell more than 10,000 furniture products as well as Swedish cuisine. “We plan to fully utilize the official IKEA Facebook page as an online communication channel along with the IKEA Korea website,” said Ulf Smedberg, country marketing manager
April 6, 2014
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Pulmuone Danone releases Activia Up
Pulmuone Danone released Activia Up, a new variety of its signature drinking yogurt, Activia. Activia Up comes in strawberry and vanilla flavors. It has reduced fat, but has abundant patented Actiregularis, a probiotic strain.The low-fat Activia is sold at 1,500 won for a 230-milliliter bottle at major convenience stores. (baejisook@heraldcorp.com)
April 6, 2014
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Lotte Mart releases budget vitamin tablets
Lotte Mart on Thursday will release vitamin supplements that are half the price of the market average. The discount retail chain said its private budget brand Tongkeun would expand to vitamin tablets.Manufactured by Nutribiotech, the Tongkeun Premium Comprehensive Vitamin will be sold at 15,000 won for 180 tablets. The vitamin products, which come in blueberry, pomegranate and lemon flavors, are made with ingredients from the U.K., Switzerland and the U.S. They also abide by the Korea Food and D
April 6, 2014
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LG releases mask set from ‘Beyond’
LG Household and Care released a mask set from its sub-brand Beyond, promoted by actor Kim Soo-hyun. The face moisturizing mask set comes in three types: soothing, intensive moisturizing and whitening. The soothing mask uses aloe vera, while moisturizing and whitening masks contain hyaluronic acid and rice bran extracts, respectively. The mask sheets are made of tensel textile to more smoothly fit on the face, LG said. “We are planning to export the masks to Hong Kong, Vietnam and Indonesia, whe
April 6, 2014
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Georgia Coffee releases banana-flavored coffee
Coca-Cola’s canned coffee brand Georgia Coffee has added a banana flavored latte to its Georgia Emerald Mountain Blend lineup.Banana Flavor Latte comes in a 250-milliliter cup and presents the softness of premium Emerald Mountain beans married with the sweet scent of banana, the company said. “We have seen people wanting something different in coffee and are hoping that this coffee will bring a breath of fresh air to coffee lovers,” a Coca-Cola official said. (baejisook@heraldcorp.com)
April 6, 2014
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Ex-STX Group chief resummoned over alleged graft
Prosecutors resummoned the former head of the financially troubled shipping and shipbuilding conglomerate STX Group on Sunday for questioning over his alleged embezzlement and business malpractice.Kang Duk-soo, who headed the group between 2003 and February 2014, is accused of funneling the funds of STX Heavy Industries, a troubled shipbuilder unit, to illegally support other ailing affiliates and misappropriating company money to bribe politicians.The 64-year-old former chairman appeared at the
April 6, 2014
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Samsung dominates key tech industries
South Korea's tech giant Samsung Electronics Co. took up more than 20 percent of the world's market in its top four product lines for the second consecutive year in 2013, data showed Sunday.Industry data showed Samsung's global market share in its color TVs came to 21.6 percent in 2013, edging up from 21.1 percent from a year earlier by shipping 53.1 million units worldwide.Samsung also accounted for 27.2 percent of the world's mobile phone market last year, up 2.1 percentage points from 2012, b
April 6, 2014
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Korean shipbuilders' new orders plunge 70% in March
South Korean shipbuilders saw their new orders tumble more than 70 percent in March from a year earlier due to increased ship prices, industry data showed Sunday.South Korean shipyards clinched new orders totaling 434,774 compensated gross tons (CGTs) last month, down 70.1 percent from 1.45 million CGTs a year ago, according to the data by global market researcher Clarkson Research Services.The number accounted for 22.8 percent of the total global ship orders, with South Korean shipyards outpace
April 6, 2014
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Apple’s advertising dilemma aired at $2 billion trial
As Apple Inc. was being targeted by an onslaught of negative advertising from arch-rival Samsung Electronics Co., the iPhone maker was racing to figure out how to fight back, according to evidence presented at a $2 billion patent trial. Jurors in the companies’ second U.S. trial over smartphone technology today saw e-mails and heard testimony showing that Apple executives last year weighed dropping the firm that has exclusively handled its advertising for 17 years to better respond to a blitz by
April 5, 2014
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[Weekender] Korean firms expand investment in overseas forest development
A growing number of Korean companies are beginning to invest in tree-planting projects overseas as prices for wood in the global market have continued to rise. “One of the key reasons for the price surge is a drop in the global log supply amid growing demand in China,’’ said Won Yoo-gil, an official of Hansol Homedeco’s global business. “Tree planting has become a high-yield business. International wood prices have increased 5.5 percent per year on average for the past decade, which is high enou
April 4, 2014
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Hyundai partners with EU for hydrogen-powered mobility
Hyundai Motor will deliver 75 of its hydrogen-powered Tucson ix vehicles to six European cities as part of the largest-ever pan-European fuel-cell passenger car project.According to the company, Hyundai, a member of an international consortium, won the Hydrogen For Innovative Vehicle project, which is funded by the EU program “Fuel Cells and Hydrogen Joint Undertaking.”Among the consortium’s five carmakers, including Hyundai, Toyota, Honda, Daimler and BMW, the Korean company is currently the so
April 4, 2014
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Kolon gets retrial in dispute with DuPont
South Korean chemical maker Kolon Industries on Friday welcomed a U.S. court ruling for a retrial of a $920 million case with DuPont over an alleged trade secret theft.“It is a meaningful ruling that accepts our argument that evidence and testimonies in favor of Kolon were wrongfully ruled out in the first trial,” a company official said. “We hope for an objective and fair outcome in the retrial.”DuPont, the largest U.S. chemical firm by market value, had filed a lawsuit in February 2009 allegin
April 4, 2014
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CJ serves foreign community in culture business drive
Korean food and entertainment giant CJ Group has set its culture business infrastructure drive in full throttle to help organize the “Friends of K-Culture” project, which is part of its ‘‘creating shared value” program that involves hosting a series of cultural events for the foreign community in Korea.The project, launched this year for the first time, takes advantage of the group’s three key business areas ― food, entertainment and culture ― utilizing the various platforms owned by CJ to carry
April 4, 2014
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Samsung steps up home appliance marketing
Samsung is ready to join the world’s largest furniture expo ― armed with home appliances, not smartphones ― to seek fresh profit sources amid the slowing growth of its smartphone sales.Samsung Electronics is scheduled to join the Milan Furniture Fair in Italy, which opens next Tuesday, to unveil its new smart home appliances including washing machines, televisions and refrigerators. Its CEO Yoon Boo-keun is also expected to attend the event. This is the first time for Samsung to display its home
April 4, 2014
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SK Telecom starts business suspension
SK Telecom, the nation’s largest telecom operator, is to suspend its operations from Saturday, as LG Uplus, the smallest mobile carrier, will resume its business on the same day. The nation’s three telecom operators SK Telecom, KT and LG Uplus have faced business suspensions on rotation for doling out excessive and illegal smartphone subsidies to attract new customers. For the last 21 days when SK Telecom was solely doing business, around 120,000 users switched their mobile carriers to get new s
April 4, 2014
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Shares slide 0.28% on profit-taking
South Korean stocks retreated 0.28 percent Friday as investors took profits after recent rallies ahead of key U.S. employment data release, analysts said. The local currency rose against the greenback.The benchmark Korea Composite Stock Price Index fell 5.61 points to 1,988.09. Trading volume was thin at 221.5 million shares worth 4.04 trillion won ($3.8 billion), with advancers outpacing losers 464 to 325. “The Korean stocks have rallied in a short term, and it prompted investors to indulge in
April 4, 2014
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Former STX Group chief questioned over corruption allegation
The former head of financially troubled shipping and shipbuilding conglomerate STX Group was called in by prosecutors Friday to face questioning over alleged embezzlement and business malpractice.Kang Duk-soo, who headed the group between 2003 and February 2014, appeared at the Seoul Central District Prosecutors' Office in southern Seoul around 9:20 a.m. to undergo questioning as a suspect in the corruption case."I apologize for causing worry to the people, and I will sincerely respond to the in
April 4, 2014