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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[Graphic News] KakaoTalk surpasses Naver in brand value
The brand value of KakaoTalk, a local messenger service with more than 130 million users worldwide, has surpassed Naver among Internet companies, according to the Brand Stock Top Index compiled by Brand Stock. In second place, Naver was close on KakaoTalk’s heels.
Feb. 23, 2014
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Talks kick off for 7th shopping channel
The government and industry insiders are in talks to launch another television shopping channel to secure sales routes for small and mid-sized companies struggling to promote their brand image in the market. If established, it will be the seventh shopping channel in the country and the second dedicated to venture firms’ products. The current channels are operated by GS, CJ, Hyundai, Lotte, NS and Home and Shopping. The Home and Shopping channel ― owned mostly by the Korea Federation of Small and
Feb. 23, 2014
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Insurers’ April-December profits dip 14.2%
South Korean insurance companies saw their combined earnings drop in the April-December period, as they suffered higher loss rates and a decline in policy sales, data showed Sunday.The combined net income of 55 life and nonlife insurers came to 3.82 trillion won ($3.57 billion) in the April-December period, down 14.2 percent from 4.45 trillion won the previous year, according to the data compiled by the Financial Supervisory Service.The weaker bottom line came as the earnings by nonlife insurers
Feb. 23, 2014
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New home construction permits rise 2.7% in January
Permits for new home construction rose more than 2 percent in January from a year earlier, indicating that the country’s housing market is on a recovery path, the government said Sunday.Construction permits were issued for a total of 24,602 housing units last month, up 2.7 percent from the same period last year, according to the Ministry of Land, Infrastructure and Transport.Such a rise was more visible in the Seoul metropolitan area where the number of construction permits for new houses increa
Feb. 23, 2014
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[Photo News] Korean Air anniversary
Feb. 23, 2014
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[Photo News] All-new gear
Feb. 23, 2014
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[Photo News] Hyundai ski festival
Feb. 23, 2014
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S. Korea, New Zealand wrap up 5th round of FTA talks
South Korea and New Zealand wrapped up their fifth round of negotiations for a bilateral free trade agreement (FTA) on Friday after a five-day run, but failed to make tangible progress, the trade ministry said.During the negotiations held in Wellington, the two sides discussed all aspects of the free trade deal including market accessibility, but failed to bridge their gap on ways to protect some of South Korea's sensitive agricultural goods, the ministry said. The two countries, however, have
Feb. 21, 2014
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Chongqing may host Hyundai plant
Hyundai Motor is speeding up its efforts to expand its production network in the all-important Chinese market, with the inland city of Chongqing emerging as the possible venue for the Korean carmaker’s fourth plant in the country. According to industry sources on Friday, Beijing Hyundai Motor, a 50-50 joint venture with Beijing Automotive Group, and the Chongqing city government will sign an initial contract on Feb. 26, possibly on the construction of a new manufacturing plant there. Hyundai Mot
Feb. 21, 2014
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Local securities industry faces wave of M&As
Small- and mid-sized local securities firms are becoming the targets of merger and acquisition deals as the stock brokerage industry has posted a sagging business performance over the past few years.According to the Financial Supervisory Service, 62 local brokerage houses reported a net loss of 109.8 billion won ($99 million) for the 2013 fiscal year, marking the first yearly deficit in 11 years since fiscal year 2002.FSS data showed Friday that 28 out of the 62 firms posted a net loss, most of
Feb. 21, 2014
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[Photo News] Social entrepreneurship
Feb. 21, 2014
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Job seekers required to improve ‘soft skills’
The number of international firms entering the local market continues to grow, but there is still a “wide disparity” in terms of the skills companies require and the ones job seekers have, according a director at recruitment consultancy firm Robert Walters.“Language ability is of course important, but general communication skills are increasingly important as well,” David Swan, managing director of Robert Walters told The Korea Herald in Seoul on Friday.He noted Korean job seekers need to develo
Feb. 21, 2014
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Facebook’s WhatsApp takeover deals blow to Naver shares
Naver Corp., the nation’s largest search portal, faces an unexpected bump in its global mobile messaging business. Facebook’s recent acquisition of fast-growing messaging start-up WhatsApp dealt a blow to the stock value of Naver. Shares of the Internet heavyweight rebounded 2 percent on Friday, following an 8 percent plunge on Thursday. Regarding the outlook for Naver Corp.’s overseas mobile messaging business, however, industry watchers still remain skeptical. As part of efforts to go global,
Feb. 21, 2014
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Banks’ foreign exchange turnover rises in 2013
Foreign exchange turnover by South Korean banks grew 1.3 percent in 2013 from a year earlier on an increase in trade and foreigners’ stock investment, the central bank said Friday.The daily FX turnover averaged $45.98 billion last year, compared with $45.38 billion the previous year, according to the Bank of Korea. The daily trading volume of spots came to $18.18 billion last year, up 1.2 percent from a year earlier, it added.The daily foreign exchange turnover of forward deals gained 7.3 percen
Feb. 21, 2014
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Mega overseas orders boost Korean builders
Shares of major Korean construction companies were skyrocketing on Friday on the back of a sign of recovery in housing market and a series of massive overseas orders. “The rebound in overseas plants orders, in particular, is expected to give a big hand to lift the industry throughout the year,” industry sources said.This month, a group of South Korean builders, led by Hyundai Engineering and GS Engineering, secured a $6.04 billion contract to build an oil refinery in Iraq. So far this year, loca
Feb. 21, 2014
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KAI wins 730b won deal to build wing parts for B787
Korea Aerospace Industries, the country’s sole aircraft manufacturer, said Friday it secured a 730 billion won ($680.1 million) order to build the main wing parts for Boeing’s popular B787 Dreamliner passenger jets. The deal is an extension of orders secured by the company in 2005 and calls for the delivery of main wing structures for 1,000 planes starting this year and running until 2021.The fuel-efficient jet is currently the U.S. aerospace giant’s standard bearer with hundreds of planes havin
Feb. 21, 2014
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SK Innovation wins EV battery lawsuit against LG Chem
SK Innovation, the holding company for energy businesses of SK Group, said on Friday that it has won the car battery-related patent lawsuit which LG Chem filed in 2012. The two electric vehicle battery makers have clashed over patents on the inorganic material-coated separator, a key part of large to midsize rechargeable batteries. Seoul Central District Court’s ruling said, “LG Chem’s patent rights for the porous structure of the active layer coating the separator is different from SK Innovatio
Feb. 21, 2014
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Google fast catching up with Korean rivals in ad sales
U.S. Internet giant Google Inc., which has been relatively slow in expanding market presence in Korea, was fast catching up with local rivals in advertisement sales last year, industry sources said Thursday.According to the sources who have access to internal data, Google raked in some 100 billion won ($93.8 million) in revenue from its online display adverts in Korea last year, a significant improvement from the 40 billion won posted a year earlier.Google’s robust performance raised alarms in t
Feb. 21, 2014
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Novelis chief dreams of tighter Korea-India ties
Korean companies may participate in India’s infrastructure construction and forge even greater economic ties with India in the future, the head of the Indian Chamber of Commerce in Korea said Thursday. “The Indian government is expected to invest more in the field of infrastructure over the next 20 years. Korea already has experience in the area and perhaps can take part (in the projects),” said Shashi Maudgal, chairman of ICCK and president of Novelis Asia. Maudgal pointed to Samsung C&T, a sub
Feb. 20, 2014
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OCI may auction off noncore business unit
OCI, a leading solar power solution provider, is likely to auction off OCI Materials, a noncore business unit, to raise funds for investment into both its existing core business and other areas as well, according to industry sources on Thursday. OCI’s main source of business comes from manufacturing polysilicon, which is a key component of solar panel construction. OCI is the No. 1 maker of polysilicon in Korea.In a regulatory filing, however, OCI declined the speculation that it is reviewing th
Feb. 20, 2014