Most Popular
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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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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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Man killed by fellow hunter who mistook him for wild boar
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[Photo News] Samsung biggest advertiser in Korea
Jan. 27, 2014
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Samsung, Google reach cross-licensing deal
A cross-licensing deal between Samsung Electronics and Google is expected to further reinforce their ties in hardware and software, a move that could push their main rival Apple into a corner in patent rows as the industry braces for more legal warfare over intellectual property, industry sources and analysts said.“The agreement with Google is highly significant for the technology industry as the deal can fend off unnecessary patent disputes,” said Ahn Seung-ho, the head of Samsung’s intellectua
Jan. 27, 2014
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Korean Air may sue ‘Pine Trees’ photographer
Korean Air, which is currently engaged in a legal battle with a celebrated photographer for copyright infringement, on Monday hinted it could take legal action against him for libel. “We may seek to redeem our reputation by taking the necessary legal measures following the final court ruling,” Korean Air said in a statement.The nation’s top airline carrier also stressed that it hasn’t done anything illegal, denying that its disputed 2011 TV commercial used a derivative image of “Pine Trees,” one
Jan. 27, 2014
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Hyundai Mobis net profit edges up in Q4
Hyundai Mobis Co., South Korea’s largest auto parts maker, said Monday its fourth-quarter net profit edged up 0.5 percent from a year earlier due to an overall increase in sales.Net profit came to 905.2 billion won ($834.9 million) in the October-December period from 900.3 billion won a year earlier, the company said in a regulatory filing.The company said sales jumped a solid 11.1 percent to 9.19 trillion won and its operating profit gained 5.2 percent to 870.7 billion won. The company’s sales
Jan. 27, 2014
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TV, Smartphone sales boost LG Electronics earnings
South Korea’s tech giant LG Electronics Inc. said Monday its net loss narrowed in the fourth quarter of 2013 from a year earlier on improved smartphone sales.Its net loss came to 63.4 billion won ($58.76 million) in the October-December period, improving from the 478.1 billion won posted a year earlier, LG Electronics reported in a regulatory filing.Revenue, or sales, edged up 0.8 percent on-year to 14.9 trillion won, and operating profit surged 103.8 percent to 238.1 billion won, it said.For al
Jan. 27, 2014
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Samsung Heavy's net drops 20.6 percent on one-off factor
Samsung Heavy Industries Co., a South Korean major shipbuilder, said Monday its earnings dropped 20.6 percent in 2013 from a year earlier due to one-off factors, such as special bonuses payments.Net profit reached 632.2 billion won ($583.7 million) in 2013, compared with 796.4 billion won the previous year, the company said in a regulatory filing.Sales rose 2.4 percent to 14.83 trillion won during the period, while operating profit nosedived 24.2 percent to 914.2 billion won."The poor performanc
Jan. 27, 2014
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LG Chem Q4 net plunges 39.5 percent
LG Chem Ltd., the world's largest lithium-ion battery maker, said Monday its net profit declined 39.5 percent in the fourth quarter from a year ago.Net profit came to 176.88 billion won ($163.3 million) in the October-December period, compared with 292.32 billion won a year ago, LG Chem said in a regulatory filing.Sales fell 0.7 percent to 5.64 trillion won in the same period, while operating profit fell 13.1 percent to 316.36 billion won. (Yonhap News)
Jan. 27, 2014
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LG Electronics' net loss narrows in Q4
South Korea's tech giant LG Electronics Inc. said Monday its net loss narrowed in the fourth quarter of 2013 from a year earlier on improved smartphone sales.Net loss came to 63.4 billion won ($58.76 million) in the October-December period, improving from the net loss of 478.1 billion won posted a year earlier, LG Electronics said in a regulatory filing.Revenue edged up 0.8 percent on-year to 13.9 trillion won, and operating profit surged 103.8 percent to 238.1 billion won, it said.For all of 20
Jan. 27, 2014
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S-Oil's net loss narrows in Q4
S-Oil Corp., South Korea's third-largest refiner, said Monday its net loss narrowed in the fourth quarter from a year earlier.Net loss came to 4.6 billion won ($4.2 million) in the October-December period compared with a net loss of 22 billion won a year ago, the refiner said in a regulatory filing.Sales fell 4.1 percent to 8.04 trillion won in the cited period, and the company posted an operating loss of 52.65 billion won compared, sharply turning around from an operating profit of 35.16 billio
Jan. 27, 2014
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S. Korea takes first step toward moon exploration
South Korea launched a program Monday for research and development of basic technologies aimed at exploring the moon.The program seeks to develop four major technologies required to build a spacecraft, rover, deep-space station and other equipment, according to the Ministry of Science, ICT and Future Planning."Exploration of the moon requires related technologies from various fields ranging from information-technology and nuclear energy to robotics and resource exploration, and thus the new rese
Jan. 27, 2014
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Hyundai Mobis net profit edges up 0.5 percent in Q4
Hyundai Mobis Co., South Korea's largest auto parts maker, said Monday its fourth-quarter net profit edged up 0.5 percent from a year earlier due to overall increase in sales.The bottom line came to 905.2 billion won ($834.9 million) in the October-December period from 900.3 billion won a year earlier, the company said in a regulatory filing.The company said sales jumped a solid 11.1 percent to 9.19 trillion won and its operating profit gained 5.2 percent to 870.7 billion won. The company's sale
Jan. 27, 2014
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S. Korea's int'l air passenger traffic reaches new high in 2013
Airline passengers coming to and from South Korea rose to a new annual high in 2013, with the number of domestic air passengers also marking a significant growth, the government said Monday.International passenger traffic to and from the country came to 50.99 million last year, up 6.9 percent from 47.7 million in 2012, according to the Ministry of Land, Infrastructure and Transport.The country's overall air passenger traffic rose 7.27 percent on-year to 74.34 million, as the number of domestic a
Jan. 27, 2014
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Samsung clinches patent deal with Google
South Korea's tech giant Samsung Electronics Co. said Monday it and U.S. Internet giant Google Inc. have agreed to share their intellectual properties and avoid necessary patent disputes, a step giving Samsung a much needed edge in an ongoing patent war, especially with U.S rival Apple Inc.Under the cross-license agreement, Samsung and Google will share their existing patents as well as those obtained over the next 10 years, allowing the two industry leaders to tap into deeper research and devel
Jan. 27, 2014
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Samsung's spending on ads tops 2.8 tln won in 2012
Samsung Electronics Co., the world's largest maker of smartphones, spent some 2.8 trillion won ($2.59 billion) on advertisements in 2012, data showed Monday, the largest among local businesses.The South Korean tech giant's spending accounts for some 14.41 percent of the combined 19.2 trillion won spent by 482,574 registered companies in the country, the data by market researcher Chaebul.com showed.The latest figure also marked a near two-fold increase from 1.49 trillion won in 2011. Samsung is e
Jan. 27, 2014
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Doosan Heavy pins hopes on U.K. deal
Doosan Heavy Industries & Construction is poised to sign a 3 trillion ($2.8 billion) nuclear power deal in the U.K. next month involving the maintenance of outdated nuclear plants.The move is now prompting market watchers to issue an optimistic outlook for Korea’s power heavyweight. “When the deal is sealed, Doosan Heavy, which has failed to meet its annual order target for two years in a row in 2012 and 2013, will be able to make a turning point in recovery this year,” Choi Won-kyung, a stock a
Jan. 26, 2014
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[Photo News] UAE power plant
Jan. 26, 2014
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Korean Air's passenger traffic drops 3.9 percent in 2013
The number of passengers flying with Korean Air Lines Co., the country's top air carrier, dropped from a year earlier in 2013 partly due to a fall in international passengers, related data showed Sunday.The total number of passengers on Korean Air flights came to about 23.6 million last year, down 3.9 percent from the previous year, according to the data from the Ministry of Land, Infrastructure and Transport.Korean Air is the only airline among the country's seven flag carriers, including five
Jan. 26, 2014
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Slowing smartphone sales cast cloud over Samsung Electronics
The quarterly operating profit for Samsung Electronics, the world’s top maker of smartphones, fell for the first time in two years amid a slowdown in smartphone sales. The tech giant said on Friday its fourth-quarter earnings in 2013 showed sluggish performance, posting 8.3 trillion won ($7.7 billion), down by 18.2 percent from the previous quarter. This is largely due to weak sales of its information technology and mobile communications division, which saw a 7 percent drop from the previous qua
Jan. 24, 2014
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Conglomerates dive into hansik business
Shinsegae, a leading retail giant in Korea, has thrown its hat into the ring and entered the hansik (Korean food) buffet business, the company said Friday. Obviously targeting the global market in line with hallyu, or the Korean cultural boom, more retail business giants are expected to add Korean diners to their business options following the success of market leader CJ. According to Shinsegae, its food subsidiary Shinsegae Food has established a research and development team working on menus f
Jan. 24, 2014
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Samsung Q4 net up 3.6% on solid smartphone, TV sales
Samsung Electronics Co., the world's top maker of smartphones, said Friday its fourth-quarter net profit edged up 3.6 percent on-year on solid sales of smartphones and TVs.Net profit came to 7.3 trillion won (US$6.79 billion) in the October-December period, compared with 7.04 trillion won a year earlier, the company said in a regulatory filing.Sales gained 5.74 percent on-year to 59.28 trillion won, while operating profit edged down 5.95 percent to a record 8.31 trillion won. The figures were in
Jan. 24, 2014