Most Popular
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S. Korea, Singapore seal supply chain agreement
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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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[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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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Taking away phones during school hours not a human rights violation: watchdog
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Korea launches antidumping probe into Chinese steel
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Samsung, SK hynix claim development of world's first LPDDR4
Both Samsung Electronics Co. and SK hynix Inc. claimed Monday to have developed the next-generation mobile DRAM (dynamic random access memory) chip with twice-as-fast speed than the existing model.Dubbed the new LPDDR4 (Low Power DDR4), the product is the industry's first eight-gigabit memory chip using 20 nanometer technology with a speed of 3,200 megabits per second (Mbps), two times faster than the 1,600 Mbps of its predecessor LPDDR3, the companies said.The two South Korean tech giants each
Dec. 30, 2013
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LG sells over 3 mln units of G2 in 2013: analysts
South Korean tech giant LG Electronics Inc. likely sold more than 3 million units of its latest flagship smartphone, the LG G2, around the globe since its launch in August, according to analysts here Monday.The firm is estimated to have sold more than 2 million units of the model in the fourth quarter following its official announcement that it sold 1 million units between August and September, analysts said."Although we cannot reveal specific data, the sales of (the LG G2) is gathering ground s
Dec. 30, 2013
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CJ HelloVision to hit 1tr mark in sales
CJ HelloVision of CJ Group is expected to achieve 1 trillion won in sales this year to become the first cable TV operator to reach the figure, industry sources said on Sunday. During the first three quarters of this year, CJ HelloVision recorded sales of 857.6 billion won to achieve a quarterly average of 285.8 billion won. With a similar figure expected for the fourth quarter, annual sales are set to exceed 1 trillion won.Local brokerages believe the company is capable of recording up to 1.2 tr
Dec. 29, 2013
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Ediya Coffee joins youth employment campaign
Local coffee franchise Ediya Coffee has signed an agreement with the government to help support a campaign aimed at improving youth employment conditions, the company said last week. “We hope this will be a chance for us to further work toward protecting the rights of employed youths and help them work in a better environment,” said Sung Jung-hun, head of communications at Ediya Coffee. The Youth Employment Protection Campaign was launched in 2010 to help companies step up efforts to protect you
Dec. 29, 2013
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Banking groups’ earnings likely to fall 29% on-year
Earnings of South Korean banking groups are likely to fall 29 percent this year from the previous year as lending margins decline amid a long streak of low rates, industry data showed Sunday.The combined earnings of six banking groups are estimated to reach 5.93 trillion won ($5.62 billion) this year, compared with 8.35 trillion won the previous year, according to the data.The banking groups include Woori Finance Holdings Co., KB Financial Group, Shinhan Financial Group and Hana Financial Group.
Dec. 29, 2013
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Korean exports likely to grow 10% on-year in Q1: Eximbank
South Korea’s state-run trade bank said Sunday that the country’s exports are likely to grow around 10 percent in the first quarter of next year from a year earlier, helped by the recovery of the global economy.The Export-Import Bank of Korea said its leading index for the country’s exports came in at 135.7 for the January-March period, up 2.8 percent from the previous year.Given that the leading index rose for the fifth straight quarter, Korea’s exports are likely to grow around 10 percent in t
Dec. 29, 2013
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Creditors of Ssangyong E&C may end workout program
Creditors of the ailing Ssangyong Engineering & Construction Co. may end their financial support to the builder that has been suffering from cash shortages amid a property market slowdown, sources said Sunday.The main creditor, Woori Bank, plans to ask other creditors whether they will continue their debt-rescheduling program for Ssangyong E&C, according to officials.If 75 percent of creditors do not approve a proposal for continued liquidity supply, including a debt-to-equity swap, the workout
Dec. 29, 2013
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Zuchowski new Hyundai Motor America chief
Hyundai Motor America said Friday a former Ford Motor manager has been named the president and CEO of the subsidiary of South Korea's largest carmaker.John Krafcik will step down from the post at the end of this year after a five-year stint, succeeded by David Zuchowski, currently executive vice president of sales, effective Jan. 1, the company said in a press release.It added Krafcik is quitting "upon the successful completion of his contract."Incoming CEO Zuchowski began his career at Ford Mot
Dec. 28, 2013
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Food industry rushes to raise prices at year-end
Concerns over a possible increase in consumer prices are rising as producers of some food items pushed up their key product prices at the end of the year. Orion Confectionery, the nation’s No. 1 snack maker, increased the price of its flagship snack brand “Choco Pie” by 20 percent on Thursday. The surprise move pushed up the price of a box containing 12 Choco Pies to 4,000 won ($3.79) from 3,200 won. It is the second price hike of the snack in 15 months, with the company raising prices 25 percen
Dec. 27, 2013
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Hyundai E&C wins gas plant deal in Uzbekistan
South Korea’s biggest builder Hyundai Engineering & Construction said it won a $3.2 billion contract from Uzbekistan to build a gas-to-liquid plant.The deal is for a joint project between the builder and its affiliate Hyundai Engineering, the company said in a statement dated Thursday. The builder will take $2.33 billion of the deal.The construction is scheduled to be completed by August 2017.Once completed, it will produce about 38,000 barrels of liquefied gas per day, the company said. (Yonhap
Dec. 27, 2013
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Hyundai Motor names new R&D chief
Hyundai Motor Group has named Kim Hae-jin, president of the powertrain division, its new research and development chief in its latest personnel reshuffle announced on Friday. The top R&D position has been replaced twice over the past year since the Korean auto giant’s admission of overstating the fuel ratings of its cars sold in the United States in November last year. Hyundai fired Kim’s predecessor Kwon Moon-sik earlier last month after a series of product quality issues, including a large-sca
Dec. 27, 2013
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Overseas production by Hyundai, Kia to top 4m
Overseas production of South Korea‘s Hyundai Motor Co. and Kia Motors Corp. is likely to exceed 4 million units for the first time this year, industry data showed Friday. According to the data by the Korea Automobile Manufacturers Association, the number of vehicles made by the country’s two leading automakers rose 13.7 percent to 3.78 million units in the January-November period from a year ago. The figure has already outpaced their previous year‘s overseas production of 3.64 million units.Mark
Dec. 27, 2013
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Samsung to appeal patent suit against Apple
Samsung Electronics Co., the world's No. 1 smartphone maker, said Friday it filed an appeal with a local court on a patent case it lost against Apple Inc. earlier this month.Samsung had filed a lawsuit against the U.S. rival in March last year claiming that Apple's devices copied three of its patents, including one related to text message display technology.The Seoul Central District Court ruled earlier this month in favor of Apple, concluding that two of the three patented technologies by Samsu
Dec. 27, 2013
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Samsung SDI, LG Chem to benefit from ESS boom
Samsung SDI and LG Chem, the nation’s leading battery makers, are expected to benefit most from the emerging energy storage system industry as the government plans to raise electricity prices next year. ESS is a device that stores electricity during low demand to provide when the demand is high. Despite its energy efficiency, it has not grown in the domestic market yet due to its high installation cost and the low price of industrial power. However, the industry is expected to thrive next year w
Dec. 26, 2013
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Shipbuilding industry to pick up next year: report
The nation’s shipbuilding industry, which has struggled for years since its peak in 2007, is on track for a recovery next year, boosted by a rebound in new orders, a report by the Woori Investment & Securities said. “The top three shipbuilders ― Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries ― are expected to raise their annual order target by 12 percent on average next year, compared with that of 2013,’’ the report said. Growing demand for liquef
Dec. 26, 2013
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Amazon.com to enter Korean market: report
Amazon.com, a U.S.-based online retail giant, is set to enter the South Korean market next year, a local media outlet reported Thursday.“As far as I know, Amazon is currently preparing to enter the Korean market,” an industry source told online media edaily, adding that local companies are gearing up for a possible showdown with the world’s largest e-commerce company.Amazon.com has already gleaned some success in the Asian market. In the fourth quarter of last year, sales by its Japanese branch
Dec. 26, 2013
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[Best Brand] The Ritz-Carlton, Seoul vows to enhance customer communication
Presidential suite at The Ritz-Carlton, Seoul (The Ritz-Carlton, Seoul)Since its opening in 1995, The Ritz-Carlton, Seoul, has remained a high-end luxury hotel in the capitol city with its signature luxurious interior, attentive service and comfort. It has established a new concept in the hotel industry through its unique service methods, using service of the highest quality and a revolutionary management philosophy to continue a tradition established a century ago.Located in the heart of Gangna
Dec. 26, 2013
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[Best Brand] Somerset Palace Seoul brings warmth and comfort of home
Somerset Palace Seoul is the ideal home for extended-stay business travelers looking for the warmth and comfort of home as well as efficency. The serviced residence, situated in the heart of Seoul, caters to the different lifestyles of both short- and long-term travelers, with diverse room types, assistance provided by its professionally trained staff and the Somerset’s signature Heartware service. The service, which aims to meet and exceed guests’ expectations, includes organizing gatherings fo
Dec. 26, 2013
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[Best Brand] Grand Hilton Seoul boasts top conference facilities
The Grand Hilton is widely associated with luxury and comfort as one of the world’s most famous five-star hotel chains. The Grand Hilton Seoul, located just 15 minutes from the center of town, is not only an ideal spot to relax on a vacation, but it’s also the perfect business choice. In order to provide its customers with even more convenience, the Grand Hilton Seoul hotel has created the city’s newest convention center, with state-of-the-art facilities capable of hosting anything from small me
Dec. 26, 2013
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[Photo News] Premium kitchen
Dec. 26, 2013