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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Tong Yang Life to join race for LIG Insurance
Tong Yang Life Insurance Co., South Korea's fifth-largest insurer, said Tuesday that it will bid for LIG Insurance Co. as part of an effort to boost its presence in the country's insurance market.LIG Group, a mid-sized business group, is seeking to sell a 20.9 percent stake in its non-life insurance unit as it struggles to secure cash to compensate investors for losses incurred from its 2011 financial fraud scandal.The conglomerate said earlier it would sell its 12.5 million shares in LIG Insura
Dec. 16, 2013
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KT shortlists CEO candidates
KT Corp. said Sunday that it has shortlisted four candidates for the chief executive post of Korea’s second biggest mobile operator.The company’s CEO nomination committee plans to hold interviews for the four candidates on Dec. 16 and finalize its selection.KT said that it will evaluate the candidates’ management and IT acumen and test their ability to see whether they can carry out global projects and businesses.The company will also look closely at their organization and entrepreneurial skills
Dec. 15, 2013
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Search is on for new chiefs of KT, POSCO
KT Corp. and POSCO, two of the nation’s most prominent former state-run companies, are still stumped in their searches for new chiefs. As the nation’s second-largest mobile carrier, KT tried to narrow down the number of candidates for its chairman post over the weekend, aiming to carry out interviews as early as Monday. On Saturday, KT’s CEO nomination committee broke up after arguing over who to choose. Over 40 candidates are vying for KT’s top job, hailing from mostly Samsung Electronics and K
Dec. 15, 2013
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Shipbuilders’ sales recover; profits still low
Korea’s top three shipbuilders seemed to have been restored to their former glory in the market, at least in terms of total sales orders this year, as the global shipping industry finally showed signs of bottoming out.They, however, still saw some of the lowest profits ever, a challenging factor for the industry that expects slow growth in the upcoming year.The total aggregated orders of Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering amounted to $
Dec. 15, 2013
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Most firms hesitant to expand next year: survey
Nearly 80 percent of major companies in South Korea will not likely expand their businesses aggressively next year, a poll showed Sunday, indicating lingering anxiety in the corporate sector over future market conditions.In the poll by the Federation of Korean Industries conducted on 248 companies, 41.3 percent of them said they will “shrink” their business plans next year.In addition, 37.2 percent of those surveyed said they will “keep the status quo” next year, showing that a combined 78.5 per
Dec. 15, 2013
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Hyundai Heavy wins $970m power plant contract
Hyundai Heavy Industries, the world’s largest shipbuilder, said Sunday that it has clinched a $970 million order to construct a power plant in Kuwait.Under the deal with the Kuwait government, Hyundai Heavy will build a power plant with a generation capacity of 1,500 MW. The plant will be built on a site located along the Persian Gulf, about 100 kilometers south of Kuwait City.The deal is part of a plan initiated by the Kuwait government to construct power and desalination plants. Hyundai Heavy
Dec. 15, 2013
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LG CNS to start anew at Yeouido office
Local IT service provider LG CNS will open its new office at the FKI Tower in Yeouido on Dec. 16 to mark the beginning of a new era, the company said Sunday.FKI Tower will be the new home for up to 40 percent of LG CNS’ 10,000―strong global workforce. “Going global and becoming smarter will be our top goals this year as we move into the new office,” said Kim Dae-hoon, chief executive of LG CNS. “Optimized for a smarter work style, the new Yeouido office will bolster our efforts to become a leadi
Dec. 15, 2013
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‘Go global,’ says Mac clone designer
Former CEO Stephen Kahng called on aspiring entrepreneurs to aggressively test the waters of the global markets. “Korean start-ups are somewhat localized. They should go outside, beyond the ‘small’ market,” he said in an interview with The Korea Herald. Kahng is not just any former chief executive. As an engineer, he is best known for developing Macintosh-compatible computers. In 1995, he set up the company Power Computing, which designed “Mac clones” ― computers not manufactured by Apple but us
Dec. 15, 2013
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[Photo News] 10 years at the top
Dec. 15, 2013
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Samsung Corp. acquires Samsung Engineering shares
Samsung Corp. has acquired the Samsung Engineering shares Samsung SDI had been holding, while at the same time selling its stake in Samsung Card to Samsung Life in a move signaling yet more changes to come in the Samsung management structure.On Friday, Samsung SDI said it was selling its entire 5.09 percent stake in Samsung Engineering to Samsung Corp. for 113 billion won. The move would make Samsung Corp. the second-largest stake-holder at Samsung Engineering. The decision came amid lingering
Dec. 14, 2013
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Apple blocks "FreeWeibo" on Beijing's demands
Apple Inc. has once again bowed to the demands of China, this time by blocking an anti-censorship application from its Chinese app store on Beijing’s demands, software developers said on Friday. Named “FreeWeibo,” the app was launched online in October to secure access to "controversial" postings that had been censored or deleted on Sina Weibo, a Chinese microblogging website that's seen as an equivalent to Twitter.As of Nov.28, FreeWeibo has become unavailable. Devices running on other overseas
Dec. 14, 2013
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Display panels to see 9% growth next year
The display panel business will see stable growth next year despite the sluggish demand for laptops and computer monitors, a display research company said Friday. DisplaySearch said the demand for liquid crystal display panels will grow to 154 million square meters next year, up by 9 percent from this year’s 141 million square meters.“Though shipment of laptops and monitors is in decline, large-screen televisions will lead the growth in panel markets,” said DisplaySearch vice president David Hsi
Dec. 13, 2013
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Hyundai Motor, Incheon to launch racing festival
Hyundai Motor said Friday that it agreed with Incheon Free Economic Zone and Incheon Development and Tourism Corp. to hold the largest-ever racing event in Korea, called the Brilliant Motor Festival, from next year through 2016. The kickoff festival is scheduled to be held from May 16-18 near the international business district of Songdo in Incheon. It will feature an opening competition of the Korea Speed Festival, a large-scale K-pop concert and other racing programs for visitors. Hyundai also
Dec. 13, 2013
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GM may ship Korea-made cars to Australia: source
General Motors may consider shipping more Chevrolet-brand cars produced at Korean factories to Australia, as it will end vehicle and engine manufacturing on the island continent by the end of 2017. “The carmaker is evaluating the merits of shipping the cars from Korea. But no decisions seem to have been made yet,” said an industry source who declined to be named. The Detroit-based carmaker announced on Tuesday that its Holden unit in Australia will cease production in 2017, citing negative busin
Dec. 13, 2013
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[Photo News] Great grains
Dec. 13, 2013
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Decade-long devotion to female scientists in Korea
One Friday night a few years ago, Richard Cymberg, then zone director of travel retail luxury products at L’Oreal Group, received a phone call at his residence in Miami. It was his boss, Jean-Paul Agon, chairman of the world’s largest beauty company, and he said: “I want to send you to a country where there are the most beautiful women in the world.”On hearing the intriguing proposal, Cymberg, who had devoted more than 30 years to L’Oreal, didn’t need to think twice. He immediately joined the Ko
Dec. 13, 2013
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[Photo News] 115th anniversary
Dec. 13, 2013
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Firms relying more on shares than bonds to raise cash
South Korean firms have increased the issuance of new shares through October from a year earlier, data showed Friday, due mainly to the falling demand for corporate bonds amid a series of liquidity crises.Local companies raised a combined 3.4 trillion won ($3.3 billion) through October from the stock market, surging 141.9 percent from the previous year, the data by Hyundai Securities Co. showed.The tallied companies raised 866.2 billion won through initial public offerings, and issuance of new s
Dec. 13, 2013
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Samsung Heavy Industries wins $300 mln orders
Samsung Heavy Industries Co., a major shipbuilder of South Korea, said Friday it has obtained combined $300 million orders for three vessels. Under the deal with BW, a global shipping company, Samsung Heavy Industries will deliver a Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU) by 2016, the shipbuilder said. The South Korean firm said it also signed a contract with a European shipping company to provide two petrochemical carriers.The shipbuilder has won orders worth $12.6
Dec. 13, 2013
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[Photo News] Future artists
Dec. 12, 2013