Most Popular
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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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Korean language teaching expert says demand has outstripped supply
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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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Conscripting women to lead to 'more babies,' claims military think tank
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K-pop CEOs sidestep key issues at National Assembly audit
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Who is pollster roiling politics with claims of government string-pulling?
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Hancom buys embedded software firm
The local office suit developer Hancom purchased the nation’s largest embedded software provider MDS Technology, according to a company statement on Friday.Hancom acquired the software company for 74.5 billion won ($68.9 million) from international venture capital firm STIC Investments, which had bought MDS Technology in August 2010. The company plans to expand its business beyond its conventional office program into embedded software markets. “Considering the expansion of the domestic embedded
March 21, 2014
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SK Telecom to compensate for glitch
SK Telecom, the nation’s largest telecom operator, promised massive compensation Friday for its service failure a day earlier. Its chief executive officer Ha Sung-min apologized for the technical glitch that affected calling and text messaging for an estimated 5.6 million customers in Seoul and some provincial areas.“I apologize to shareholders and customers for yesterday’s incident. We will compensate for the damages with more money than stated in the customer clauses,” Ha said after a sharehol
March 21, 2014
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Safety commission approves restart of Wolseong nuclear reactor
South Korea's nuclear safety commission on Friday approved restarting a nuclear reactor that was shut down last week due to what has been determined as a technical problem in one of its control cards."The investigation confirmed a control card that regulates the level of output of the reactor had been damaged, triggering the safety shutdown system that halted the reactor's operation," the Nuclear Safety and Security Commission said in a press release.The reactor at Wolseong Nuclear Power Plant,
March 21, 2014
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Hyundai Glovis opens new auto parts export plant in S. Korea
Hyundai Glovis Co., one of South Korea's leading automotive logistics support companies, said Friday that it has opened a car parts export plant that will ship products to China.The plant located at the Wanju Techno Valley complex, some 235 kilometers south of Seoul, will assemble and package knock-down vehicle kits that will be shipped to Hyundai Motor Co.'s Sichuan Province plant in China. The plant is scheduled to be opened in the first half of this year.Both Hyundai Glovis and Hyundai Motor
March 21, 2014
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Samsung Fine Chemicals to buy into U.S. chip materials firm
Samsung Fine Chemicals to buy into U.S. chip materials firm Samsung Fine Chemicals Co., a chemical unit of South Korea's top conglomerate Samsung Group, saidThursday it will buy shares in a new U.S. chip materials company that will be listed on the U.S. tech-heavy NASDAQ. Samsung Fine Chemicals said it will spend US$100 million in cash to buy the new shares of SSL, which was spun off U.S. solar energy firm SunEdison. The chemical firm and SunEdison are partners in a 50-50 joint venture SMP.
March 20, 2014
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Korea likely to play major role in BMW’s electric car strategy
MUNICH ― German luxury carmaker BMW pinned high hopes on Asia, including Korea, for sales of its emissions-free, electric vehicles in the long term, though it is focusing more resources on Europe and the United States for now. “The i3 cars will definitely have a strong role to play in Asia such as Korea, China and Japan. These countries have the biggest cities in the world, which the i3 is targeting,” BMW board member for sales and marketing Ian Robertson told The Korea Herald on Wednesday.The K
March 20, 2014
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Watchdog to probe telecom retailers on personal data management
South Korea’s telecom watchdog said Thursday it has opened an investigation into mobile carriers’ retail shops across the country to root out any abuse of personal information.The Korea Communications Commission’s move follows a series of alarming data leaks from mobile carriers amid increasingnumber of smartphone users.Earlier this month, police in the southern city of Busan said it arrested a suspect for allegedly circulating 12.3 million pieces of personal data obtained from a hacker who is p
March 20, 2014
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4 new budget carriers enter Korea
Four new budget carriers have received permission from the Korean government to start operations here, signaling increased competition in low-cost air travel.The Ministry of Land, Infrastructure and Transportation said Spring Airlines, Vanilla Air, Hong Kong Express and VietJet had been authorized to begin operating this year.Some of the four have already started offering services, the government sources said. Spring Airlines is the first low-cost carrier from China to enter the local market, an
March 19, 2014
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SK Planet eyes Indonesia’s e-commerce market
Customers in Indonesia will soon have a faster, easier and much more entertaining open market experience thanks to SK Planet, Korea’s leading online and mobile service platform provider.On Wednesday, the company announced the launch of its much-awaited open market Elevenia (www.elevenia.co.id) to make a foray into one of the fastest-growing countries in Southeast Asia.Elevenia was created in partnership with Indonesia’s second-largest telecom operator, XL Axiata. The name was coined from the wor
March 19, 2014
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SK Chemicals teams up with Sanofi Pasteur to develop vaccine
SK Chemicals Co., a petrochemical unit of South Korea’s third-largest conglomerate SK Group, said Wednesday that it had signed a deal with global vaccine maker Sanofi Pasteur Inc. to jointly develop and sell a next-generation vaccine.SK Chemicals will develop the vaccine for pneumococcal with Sanofi Pasteur and produce it at its plant in Andong, North Gyeongsang Province, the company said in a regulatory filing. Pneumococcal is a bacterial infection responsible for up to 1.6 million deaths a yea
March 19, 2014
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Hanwha Chemical to sell pharmaceutical unit
Hanwha Chemical will be selling its stake in its pharmaceutical unit Dreampharma Group in a bid to cut costs, the company said Wednesday.Citigroup Global Markets Korea Securities will serve as the deal manager. “We are pushing ahead with the sale of Dreampharam, but there is no progress yet,” said a Hanwha Chemical executive. Further, Hanwha Chemical is going ahead with the plan to sell the construction material division of its unit Hanwha L&C Corp. and buy a petrochemical business from Dow Chem
March 19, 2014
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Korean manufacturers’ sentiment hits 3-year high
South Korean manufacturers appear to believe business conditions for the second quarter of this year will be better than the first, according to a recent poll by the Korea Chamber of Commerce and Industry.The improving sentiment seemed to be largely fanned by expectations of a recovery in the U.S. economy and an improvement in the auto and IT industries, and reached a three-year high on par with the first quarter of 2011.According to the poll of 2,425 companies by the KCCI, the Business Survey I
March 19, 2014
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[Photo News] Secure hard drives
March 19, 2014
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Cyber security becomes crucial for business
Protecting personal information has become one of the most important factors in determining corporate competitiveness in the wake of massive data leak scandals a cybersecurity academic has said. “If privacy fears continue, consumers will lose trust in the companies and this can put them in serious trouble,” said Lim Jong-in, dean of Korea University’s graduate school of information security, in an interview with The Korea Herald. Cybersecurity issues have been growing in Korea over the last few
March 19, 2014
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SK Chemicals teams up with Sanofi Pasteur to develop vaccine
SK Chemicals Co., a petrochemical unit of South Korea's third-largest conglomerate SK Group, said Wednesday that it has signed a deal with global vaccine maker Sanofi Pasteur Inc. to jointly develop and sell a next-generation vaccine.SK Chemicals will develop the vaccine for pneumococcal with Sanofi Pasteur and produce it at its plant in Andong, 268 kilometers southeast of Seoul, the company said in a regulatory filing. Pneumococcal is a bacterial infection responsible for up to 1.6 million deat
March 19, 2014
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Hanwha Chemical to sell its pharmaceutical unit
Hanwha Chemical Co., a unit of South Korea's Hanwha Group, will sell its stake in its wholly owned pharmaceutical unit Dreampharma Corp., company and industry sources said Wednesday.Hanwha Chemical picked Citigroup Global Markets Korea Securities Ltd. as a manager of the deal, the sources said."We are pushing ahead with the sale of Dreampharam, but there is no progress as it is in an early stage," said an official at Hanwha Chemical, declining to give his name.Hanwha Chemical is going ahead with
March 19, 2014
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Second McDonald’s breakfast giveaway a success
McDonald’s Korea on Monday held its second National Breakfast Day event during which some 300,000 Egg McMuffins -- McDonald’s iconic breakfast sandwiches -- were handed out for free at 300 outlets across the country. The event, which lasted from 7:00 to 10:00 a.m., was a huge success, with the food running out in just a couple of hours. “The Korean consumers have high standard particularly towards quality and freshness of ingredients,” said Bob Larson, the greater Asia senior vice president of M
March 19, 2014
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[Desk Column] Is Google being bullied in Korea?
Type in “Google payment system error” on any search engine here and you’ll get a long list of people complaining of payment disasters, both big and small.The list comes complete with solutions from those who have been there and done it. Some offer sympathy, while yet others fume at the lack of compassion and knowledge on the part of the call center employees. But we all know it is not their fault. Most of the blame lies with the Ministry of Science, ICT and Future Planning, which authorized Goog
March 18, 2014
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Conrad suffers water leak
Conrad Seoul, the Seoul branch of Hilton Worldwide and annex to the landmark International Finance Center Seoul in Yeouido, suffered a sudden water leak Tuesday, caused by a welding error.Stains from the leak began to appear near lunchtime and continued to spread on the outer wall of the five-star hotel. Water also poured down onto a pedestrian passage and the entrance to the underground parking lot.“The leak started from the inner side of the hotel’s outer wall due to a welding error in the rad
March 18, 2014
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Korean builders anticipate boom in overseas orders
Offsetting a prolonged slump in domestic construction orders, overseas demand for Korean builders has been on the rise, particularly in the Middle East. According to the International Contractors Association of Korea, the value of overseas construction orders procured by Korean builders surged 67 percent to $16.2 billion in the first quarter of this year compared to the same period a year ago. “The overseas order amount for the first three months was the highest in four years since the same peri
March 18, 2014