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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Volkswagen Beetle ever-evolving
The Volkswagen Beetle, best known for its arched silhouette and cheerful look, is undeniably the best-selling car of the German carmaker. Since its official debut in 1936, more than 22.5 million Beetles have been sold globally.It is no exaggeration to say that the history of the iconic car is the very history of German automotive engineering and driving culture. The Beetle was the ultimate expression of “Made in Germany” in the 1950s. When the economy was enjoying its heyday, it was Beetles that
Dec. 19, 2013
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Diageo offers houses to single moms
Diageo Korea said Thursday that it will provide 17 unmarried mothers and their families with rental homes in coordination with the Ministry of Gender Equality & Family and Gyeonggi Urban Innovation Corp.Under its recent expansion of social contribution activities, the local unit of the U.K.-based liquor group Diageo has decided to donate 500 million won ($455,000) to the housing offering for single moms facing financial difficulties, said company spokespeople.The homes, which will be offered for
Dec. 19, 2013
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Race to become POSCO chief to kick off this week
The process to pick the next chairman and CEO of POSCO, the nation’s top steelmaker, will kick off this week with a CEO nomination panel to be launched soon.Attention is being paid to whether the successor of the outgoing chairman Chung Joon-yang will come from inside or outside the company. The CEO nomination committee will be composed of the steelmaker’s six outside directors.“When the committee is formed, it will review a pool of internal and external CEO candidates and the final entry will t
Dec. 18, 2013
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[Photo News] CEO santa
Dec. 18, 2013
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DSME union slams rumored acquisition by Russian firm
Daewoo Shipbuilding & Marine Engineering is suffering a conflict between labor and management over speculative news that the company may be sold over to a Russian owner.Though the government denied the scenario, concerns persist that the deal may strike a blow to Korea’s national defense as the company is an unrivaled leader in the military ship market.“We oppose the disposal of the company to a foreign unit, which may cause employment insecurity and a shipbuilding technology leak,” said the DSM
Dec. 18, 2013
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Court’s pay ruling shocks firms
Business circles, which have long complained about growing labor costs here, expressed their concerns about Wednesday’s Supreme Court ruling that bonuses, if paid regularly, should be considered part of the ordinary wage. Following the ruling, industry watchers warned that more companies, especially those with global operations, could consider moving their production base out of Korea. Ordinary pay is used as the base to calculate overtime, nighttime and holiday pay, and affects the amount offer
Dec. 18, 2013
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New chiefs named for Hyundai Mobis, Wia
Hyundai Motor Group has reshuffled the heads of its key auto parts and financing affiliates, the group said Wednesday. Chung Myung-chul, president of Hyundai Wia, was appointed CEO of Hyundai Mobis, while Yoon Joon-mo, senior vice president of Hyundai Dymos is to replace Chung. Chung, 60, served key positions at Hyundai Motor and its affiliate Kia Motors, and led Hyundai auto parts subsidiaries such as Powertec, Wia, Wisco and Metia. Hyundai also named Kim Hong-je, senior vice president at HMC S
Dec. 18, 2013
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SK E&C inks $3.6b deal for Egypt plant
SK Engineering and Construction Co., one of South Korea’s top builders, signed a multi-billion dollar deal to set up a large-scale petrochemical plant in Egypt, corporate sources said Wednesday.The builder secured the $3.6 billion contract for the Tahrir Petrochemical Project as part of a consortium with its German partner Linde. Private Egyptian developer Carbon Holdings placed the order.The plant in the Ain Sokhna region, lying on the western shore of the Gulf of Suez, aims to produce 1.35 mil
Dec. 18, 2013
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Information protection rules to tighten
Companies will have to pay 1 percent of their sales in fines if their customers’ information is leaked due to a lack of technical and managerial protective measures, the Korea Communications Commission said Tuesday.“The government penalty has been criticized as a slap on the wrist even for massive information leaks,” said Ban Sang-kwon, KCC’s personal information protection division head.Until now, the KCC was able to impose a fine only when it proved the causal relationship between the violatio
Dec. 18, 2013
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[Newsmaker] Hopes running high for KT chief nominee
There’s a new man in the house at KT: Hwang Chang-gyu, a former Samsung executive who, if Cheong Wa Dae has nothing more to say about it, will become the next chairman and CEO of the nation’s second-largest mobile carrier.While the company seemed to have initially hoped for someone with a KT background, most are ready to welcome Hwang and his expertise, according to those close to KT. Hwang served as president of Samsung’s memory business division from 2001 to 2004. He currently teaches at Sungk
Dec. 17, 2013
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Korean smart device market expected to shrink this year
The nation’s market for smart devices, including smartphones, tablets and computers, is expected to post negative growth this year for the first time, a research firm said Tuesday. IDC Corporate Korea said domestic shipments of smart devices would fall 5 percent on-year to 28.3 million units in 2013, and its sales would drop 7.9 percent to 21.8 trillion won ($21 billion). This is in stark contrast with the stable 26.8 percent growth of global shipments in the same period. “The domestic smartphon
Dec. 17, 2013
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[Photo News] Collaboration
Dec. 17, 2013
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[Photo News] BMW charging stations for EVS
Dec. 17, 2013
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Hyundai ranks 2nd on Germany’s Auto Bild quality satisfaction report
Hyundai Motor Co., South Korea’s largest carmaker, said Tuesday it placed second on German motoring magazine Auto Bild’s annual quality satisfaction report.The magazine’s 2013 report evaluated 20 original equipment manufacturers such as Volkswagen, Toyota and Hyundai’s sister company Kia that sell cars in Germany. It also examined large volume luxury segment heavyweights like BMW, Mercedes-Benz and Audi. Auto Bild, which has been issuing the quality report since 2001, put Hyundai second after To
Dec. 17, 2013
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[Photo News] Talent donation
Dec. 17, 2013
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Views mixed on exit of Samsung’s first female VP
People talk, and right now in the circles involving Samsung, one topic arousing much talk is whether Sue Shim, Samsung Electronics’ first female executive vice president, has been demoted or will move on to greater things.Shim became chief marketing officer and executive vice president at Samsung Electronics in 2011. Recently, after just two years in office, she’s taken leave to further her studies in corporate social responsibility in the U.S.Lee Young-hee, executive vice president of Samsung’s
Dec. 16, 2013
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KT nominates ex-Samsung president for new CEO
KT Corp., South Korea's No. 2 mobile operator, said Monday it nominated a former Samsung president to be its new chief, who will take office by early next year pending shareholder approval.KT said its six outside directors and one inside director recommended Hwang Chang gyu to lead the telecom giant for a three-year tenure.The nomination of Hwang as the chief executive officer of KT awaits approval at a shareholders meeting early next year, it said.Hwang served as the president of the memory bus
Dec. 16, 2013
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[Photo News] Hybrid K5 and K7
Dec. 16, 2013
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KT unveils genie K-POP 2.0
KT unveiled an upgraded version of genie K-POP, a smartphone application that provides music, video and image services in 48 countries, including the United States, Japan and Taiwan. Genie K-POP 2.0 has an upgraded user interface, the company said Monday. The swipe-based main screen sports players, charts and menus and has an added playlist function. Seven types of equalizer presets ― normal, pop, dance, hip-hop, rock, jazz and classic ― are also available. The company said genie K-POP’s global
Dec. 16, 2013
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[Photo News] Service for expats
Dec. 16, 2013