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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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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[Grace Kao] Why K-pop lip-syncing doesn’t bother me
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Dongbu to sell affiliates to tide over crisis
South Korean conglomerate Dongbu Group said Sunday it plans to sell two of its affiliates and other assets in a bid to tide over a crisis and improve its financial health.Dongbu Group said it plans to sell stakes in its electronics unit Dongbu HiTek Co. and Dongbu Metal Co. by 2015, and also have its other affiliates sell assets to secure a combined 3 trillion won ($2.82 billion).The conglomerate has been making self-rescue efforts under a contract with the state-run Korea Development Bank, the
Nov. 17, 2013
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Hanjin Group chief wins Eddy Award in L.A.
Cho Yang-ho, chairman of Hanjin Group which incorporates the nation’s top airline company Korean Air, was recognized for his contribution to the regional economy of Los Angeles.The Los Angeles County Economic Development Corporation awarded Cho with the 18th Eddy Award on Thursday, Hanjin officials said Friday.The LAEDC is a private, nonprofit organization established in 1981 to promote the region’s economy and to attract global business units.Its annual Eddy Award, which recognizes leadership i
Nov. 17, 2013
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Business chiefs urge action on economic bills
Leaders from business and political circles agreed Friday to set up a consultative body to deal with pending economic issues including the passage of bills aimed at boosting the sagging economy.The agreement was made after the main opposition Democratic Party floor leader Jun Byung-hun expressed the party’s unwillingness to cooperate with business leaders’ request for quick legislative action to pass some of the economic-related bills.It is the first time that chiefs of the ruling and opposition
Nov. 15, 2013
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‘Smart watch not yet must-have’
Smart watches will not replace smartphones for the next five years, according to a report from Gartner, a U.S. tech research firm. “Wearable devices will remain a companion to mobile phones at least through 2017,” the report predicted.Fewer than one percent of premium phone users will opt to replace their phone with a combination of a wearable device and a tablet, according to the report. This year, the development of smart watches by electronics makers has dominated the headlines of tech media.
Nov. 15, 2013
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Korea to impose tax on cosmetic surgeries
South Korea will push to impose value added tax on cosmetic surgeries intended to improve the appearance, such as liposuction and bimaxillary operations, the Finance Ministry said Friday.Under an enforcement ordinance revision, the ministry said that it plans to impose a 10-percent value added tax on surgeries performed for beauty, not for medical reasons.The law revision does not require parliamentary approval before going into effect. It is expected to be applied starting in the first half of
Nov. 15, 2013
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NCsoft’s earnings fall short of market expectations
NCsoft, the nation’s leading game company, posted 169 billion won ($159 million) in quarterly sales and 31 billion won in operating profit, the company said Friday. The third quarter earnings dropped by 12 percent in sales and 51 percent in operating profit compared to the previous quarter, falling far short of market expectations. This was mainly caused by the lackluster sales of its flagship game “Lineage” which saw a 27 percent, or 22.5 billion won, drop from the previous quarter. The company
Nov. 15, 2013
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POSCO chairman offers to resign
POSCO chairman and CEO Chung Joon-yang conveyed his willingness to resign to the chairman of the company’s board of directors to pave the way for new leadership, company officials said on Friday.Chung requested that the board chairman launch the in-house process to select his successor, the officials said.Chung decided to step down out of the need for new leadership to lead POSCO, the nation’s top steelmaker, in the fast-changing global business environment, the company said. The outgoing CEO wa
Nov. 15, 2013
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KAIST’s OLED is haze-free
The Korea Advanced Institute of Science and Technology said Thursday that it has developed organic light emitting diodes that avoid the haziness that has hindered the creation of transparent OLEDs. The joint research project with the Ministry of Science, ICT and Future Planning was published in the October issue of the U.S. journal Advanced Optical Materials. “The technology can solve transparency, efficiency and haziness issues at the same time, which display makers haven’t addressed when makin
Nov. 14, 2013
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[Photo News] Shared growth deal
Nov. 14, 2013
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Samsung says it owes Apple $52 million
How much does Samsung Electronics owe Apple for copying vital features of the iPhone and iPad, such as scrolling and the “bounce-back” function at the end of documents?Apple says $380 million. Samsung counters with $52 million.The companies made their demands Wednesday during opening statements of a patent trial in San Jose, Calif.At issue are 13 older products a previous jury found infringed several Apple patents. That previous jury awarded Apple $1.05 billion after determining 26 Samsung produ
Nov. 14, 2013
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Samsung, Apple to meet again in patent tussle
Samsung Electronics president Shin Jong-kyun and Apple CEO Tim Cook are likely to have a face-to-face meeting over their ongoing patent disputes, news reports said on Wednesday. The news came after a California district court judge on Tuesday asked Apple and Samsung to hold talks one more time before a new patent infringement trial is scheduled to kick off in March. Reports said the two electronic giants agreed to pursue talks by January 8, but did not specify an exact date or location for the
Nov. 13, 2013
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[Photo News] Korea-Russia dialogue
Nov. 13, 2013
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Hyundai Motor America bullish on premium cars
LOS ANGELES ― Tustin Hyundai, a Hyundai Motor dealer in Orange County, is one of the Korean carmaker’s top-selling outlets in the U.S. Since starting business in the former GM Chevrolet dealership building in 2010, Tustin has seen its car sales more than triple over the past three years. “This tells that things are changing here,” said Dave Zuchowski, executive vice president of sales for Hyundai Motor America.“Chevrolet couldn’t make it and closed their store down, and then a high-performing Hy
Nov. 13, 2013
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Korea to cultivate geospatial information industry
Korea will nurture the fast-growing geospatial information industry as one of the nation’s new growth engines in an integrated and systematic manner, the new head of the Korea Cadastral Survey Corp., or LX, said on Wednesday. “LX will transform into a hub organization to realize the vision, renewing its corporate name as the Korea Land Geospatial Information Corp. soon,’’ LX CEO Kim Young-pyo told The Korea Herald. The new entity, aimed at promoting the nation’s geospatial information industry,
Nov. 13, 2013
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JTI Korea to release tobacco vaporizer
JTI said Wednesday that it would introduce Ploom, a premium tobacco vaporizer, in the local market on Nov. 18. The product is a vaporizer that delivers real tobacco vapor from a sophisticated and easy-to-use device.Ploom is in a separate category from both e-cigarettes and ordinary cigarettes.A discreet vapor is created through the heating of tobacco, unlike e-cigarettes which create vapor by heating a nicotine-containing liquid.Ploom capsules will be available in six variants: Mevius, Camel, Co
Nov. 13, 2013
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Jobless rate inches up to 2.8% in October
South Korea’s jobless rate inched up in October from a month earlier but job creation accelerated, raising hopes that labor market conditions are improving, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 2.8 percent last month, up from 2.7 percent in September.The jobless rate adjusted for inflation remained unchanged at 3 percent over the cited period.Job creation is picking up speed. The number of employed people was 25.54 million in
Nov. 13, 2013
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Samsung to hire 6,000 part-time employees
Samsung Group said Wednesday that it would hire 6,000 contract-based part-time workers in an effort to increase work opportunities for unemployed married women and elderly retirees. According to the largest conglomerate in Korea, its 20 affiliates including Samsung Electronics and Samsung Display will participate in the employment policy applicable to 120 types of jobs.“Through the program, we will have work opportunities for women who took a career hiatus due to marriage and child care and for
Nov. 13, 2013
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FTC raises target for fine and penalty collection by 15 percent for next year
South Korea's corporate watchdog has raised its target for money collected as fines and penalties for next year, government sources said Wednesday, in an apparent move to toughen the crackdown on unfair business activities. According to the sources from the finance ministry and the Fair Trade Commission (FTC), the FTC plans to collect 695.3 billion won ($648.6 million) in fines and penalties next year, which is up 15 percent, or 91.8 billion won, from this year.The fines and penalties are mostly
Nov. 13, 2013
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Small town in Georgia gives boost to Kia
ATLANTA, Georgia ― As West Point’s once-strong textile manufacturing industry started faltering in the early 2000s, jobs vanished fast and people were forced to leave their hometown some 130 kilometers from Atlanta.Then, a “savior” announcement was made by Kia Motors, still an unfamiliar name to the residents at that time. The carmaker said it would build its first U.S. factory in the city, invest some $1.1 billion and hire some thousands of people. “The news was almost a savior for the local ec
Nov. 12, 2013
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KT accepts CEO Lee’s resignation
KT, the nation’s second-largest mobile carrier, said on Tuesday that its board of directors had accepted CEO Lee Suk-chae’s letter of resignation. In his statement, Lee said, “I would like to express my gratitude to the directors present here today for the meeting, and executives and officials who have made relentless efforts in a harsh environment for the firm. I also want to thank the customers and shareholders who have given love and care to KT.” Pyo Hyun-myung, president of KT’s telecommunic
Nov. 12, 2013