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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[Photo News] LG G2 mini
Feb. 20, 2014
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[Photo News] Starbucks' Gyeongju branch
Feb. 20, 2014
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Builders’ W4tr debt bill spurs equity sales
South Korean builders, facing at least 4 trillion won ($3.75 billion) in debt repayments by the end of June, are turning to equity instruments to bolster depleted balance sheets that have deterred bond investors.GS Engineering & Construction Corp. plans to raise 523.6 billion won selling shares, the company said Feb. 18. SK Engineering & Construction Co. and Lotte Engineering & Construction Co. sold ordinary and preferred stock in December. Yields paid on three-year notes from builders with loca
Feb. 20, 2014
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Hyundai MNSOFT develops navigation update technology
Hyundai MNSOFT, a vehicle infotainment company under Hyundai Motor that specializes in navigation, black boxes, location-based services and telematics, has developed a new technology delivering incremental updates of the latest maps to navigation systems in moving cars, the company said Thursday. The technology is based on tethering using a mobile phone as a Wi-Fi network host. Users can hook up their navigation systems to the wireless network for map updates. In particular, Hyundai MNSOFT devel
Feb. 20, 2014
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POSCO E&C inks $300m deal to build power generation plant in Peru
POSCO Engineering and Construction Co. said Thursday that it inked a US$300 million deal to build a power generation plant in Peru.The contract reached at the South Korean builder's branch office in Incheon calls for the construction of a 720 megawatt gas-fired thermal power plant in Mollendo, some 1,055 kilometers south of Lima.It said once construction begins, the plant, which is named Nodo for short, will be completed in 26 months.The contract was signed between Samay 1 S.A., a local affiliat
Feb. 20, 2014
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Nissan Leaf picks Jejudo for Korean debut
Nissan’s fully electronic Leaf compact will make its Korean debut next month on Jejudo Island, heating up the competition in the nation’s nascent electric car market. According to industry sources on Wednesday, the Japanese carmaker will launch its Leaf vehicle at the International Electric Vehicle Expo held in Jejudo from March 15 to 21. Nissan will transport the vehicles directly from its U.S. factory for the week-long exhibition. “Until a few weeks ago, Nissan was skeptical about the Korean e
Feb. 19, 2014
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[Graphic News] Korea No. 5 carmaker for 9th year
Korea produced roughly 4.52 million cars last year. The number is 0.9 percent less than the previous year’s production, but still places the country fifth highest in the world for the ninth consecutive year.
Feb. 19, 2014
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Hyundai Heavy builds first floating LNG regasification unit
Hyundai Heavy Industries, the world’s largest shipbuilder, said it completed the construction of the world’s first LNG-Floating Storage Regasification Unit for Hoegh LNG of Norway. LNG FSRU refers to an offshore facility that stores LNG in its liquid state while floating on the sea and regasifies it to supply to facilities on land via submarines or onshore pipelines. The units come in various shapes, and in this case, it was shaped to look like a vessel. Measuring 294 meters high and 46 meters w
Feb. 19, 2014
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Incheon Airport tops ACI survey for 9th year
Incheon International Airport has topped the prestigious Airport Service Quality survey for the ninth consecutive year. Of the 1,847 airports that competed, the local airport had the highest track record in the survey, according to the Incheon Airport authorities. The facility scored an overall 4.97 points out of 5 in a survey of 350,000 international passengers in 2013 by the Airports Council International. It also won in the categories of “Best Airport in Asia-Pacific” and “Best Airport for 25
Feb. 19, 2014
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8 in 10 new cars in Gangnam are foreign-made
Amid the fast-growing market share of imported car in Korea, 8 out of 10 new vehicles registered in Gangnam, an affluent area in southern Seoul, are foreign cars, a local media outlet reported on Wednesday. South Korea saw the market share of imported cars reach 14.62 percent in January, the Korea Automobile Importers and Distributors Association reported on Tuesday. A total of 14,849 foreign-made cars were sold in the one-month period, compared with 12,345 units a year earlier, KAIDA said. “Wi
Feb. 19, 2014
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S. Korean builders win $6b oil refinery order in Iraq
A South Korean joint venture secured a $6.04 billion contract to build an oil refinery in Iraq, corporate sources said Wednesday.The order won by the four builders, led by Hyundai Engineering and Construction Co. and GS E&C, represents the single largest industrial plant project won by local firms.The order was placed by State Company for Oil Project and will be built in Karbala, some 120 kilometers southwest of Baghdad.The construction is expected to take 54 months for a refinery that can proce
Feb. 19, 2014
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KT most valuable telecom brand in S. Korea: report
The country's No. 2 telecom firm, KT Corp., said Wednesday it was appraised as having the highest brand value in South Korea among competitors despite a smaller market share compared with its bigger rival SK Telecom Co. According to a report by British market researcher Brand Finance, KT ranked 33rd around the globe in the telecom sector, three notches higher than for SK Telecom. Currently, market leader SK Telecom controls roughly half of the South Korean market, followed by KT and smallest
Feb. 19, 2014
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Kolon in hot water after resort accident
Kolon Group was placed under public scrutiny on Monday night following the sudden collapse of a gymnasium in a resort it had built in Gyeongju of North Gyeongsang Province. The accident left 10 dead and many more injured. The incident was only the latest in a series of mishaps for the company, which has experienced a downturn in business performance that was punctuated by a large-scale damage claim filed by U.S.-based business giant DuPont.Kolon Group suffered a deficit of about 83 billion won (
Feb. 18, 2014
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[Photo News] 1,000th delivery of the A320 sharklet
Feb. 18, 2014
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Daewoo International to build auto plant in Saudi Arabia
Daewoo International, a trading subsidiary of POSCO, will push for a car manufacturing plant in Saudi Arabia, according to the sources close to the company this week.The significance of the project would be that Saudi could potentially start producing its own domestic vehicles, they said. The main business entities involved are an automobile subsidiary of Saudi’s Al Safari group, the Saudi Arabian Public Investment Fund and POSCO. “If Daewoo International oversees the project, both POSCO’s auto
Feb. 18, 2014
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Emart launches line of premium African coffee for first time
Expatriates from nearly every part of the world living here in South Korea may have at one time or another remarked on the high price of coffee here. That may be changing soon.Emart, which is the nation’s No. 1 supermarket chain, announced the sale of a new line of premium Kenyan coffee in a launching ceremony at its Seongdong-gu headquarters on Feb. 12.Othaya Kenya AA, dubbed a “special classic” brand of premium coffee, will be sold throughout its nationwide network of 144 super stores with 1 p
Feb. 18, 2014
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Nongshim named best brand in Malaysia
Nongshim received the Brand Laureate Award from the Asia Pacific Brands Foundation last week, thanks to its halal instant noodles. The Korean food maker was named the best food brand among unlisted companies. The company, most famous for producing Shin Ramyun, gained halal accreditation from Malaysian institute Jakim, last year, after establishing a production facility that suited Islamic rules for halal food in Busan in 2011. This has led to active marketing by Nongshim in Southeast Asian count
Feb. 18, 2014
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Adidas opens pop-up store
Adidas opened a pop-up “Innovation Lab” at its Myeong-dong flagship store to mark the launch of its “Springblade” running shoes. The soles of the shoes are made with high-tech polymer blades that provide elastic energy and driving force equivalent to or better than a metal spring, according to Adidas. The shoes come in two versions, one for men and one for women. The price is set at around 208,000 won per pair. Customers visiting the Adidas store can test the sneakers and watch video clips promo
Feb. 18, 2014
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DHL to support fashion designers
International logistics company DHL will kick off the “DHL Exported” program to help local designers make it in the international fashion scene. The winner of the program will receive financing for runway shows in New York, London, Milan and Tokyo and present their products in showrooms. DHL will cover all production costs as well as support all logistics, including textile and materials, for the next two seasons. The company, which has been sponsoring Fashion Week events for more than six years
Feb. 18, 2014
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Caffe Bene opens store in Manhattan
Local coffee shop chain Caffe Bene opened a branch in Union Square in Manhattan, New York, on Feb. 12. This is the first Caffe Bene store in the fashionable Manhattan district. The Caffe Bene Union Square shop offers taro, Thai, milk, pumpkin and red velvet bubble teas to target young customers. This is the chain’s ninth store in the U.S. Headquarters said it has opened a total of four new stores in Mongolia, Taiwan, Indonesia and the Philippines earlier this year. There are a total of 917 store
Feb. 18, 2014