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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U.S. shale gas boom to change Asian market
The shale gas boom in the U.S. will eventually turn Asia’s natural gas market from the current seller’s market to a buyer’s market, London-based World Energy Council cochair Younghoon David Kim said Tuesday. “Leading gas sellers, including Russia, Australia and Malaysia, have started feeling the pinch as the U.S., once a gas buyer, is transitioning into a gas provider thanks to the recent shale gas boom,’’ Kim, who also leads Daesung Group, a Korean city-gas-driven energy conglomerate, said in a
Nov. 12, 2013
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DSME wins plaudits in military ship market
Korea’s shipbuilding industry may be a tight three-way race, but when it comes to warships, the unequaled frontrunner is Daewoo Shipbuilding & Marine Engineering.DSME’s business records include the nation’s first-ever submarine export, as well as deals to export battleships to naval champion states such as the United Kingdom and Norway.DSME’s involvement in the battleship market traces back to the 1980s when it built a 1,000-ton patrol combat corvette for the Navy, according to officials.Backed
Nov. 12, 2013
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[Photo News] Millet down jacket
Nov. 12, 2013
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High-priced padded jackets gain sales momentum
South Korea apparel distributors said on Tuesday that high-priced, trendy padded jackets are out of stock in contrast to the slow sales of mid- and low-priced jackets. Several upscale brands such as Pyrenex, Moncler, Canada Goose and Moose Knuckles doubled their turnover from last year. These brands are positioned in the country as fashion trendsetters, while other low-priced makers missed on building their own edge. Pricing is also a factor affecting sales. Expensive padded jackets are b
Nov. 12, 2013
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Local game makers' royalty earnings rise in 2012
South Korean game makers' income from royalties paid by foreign firms rose 19.3 percent in 2012 from a year earlier on the back of popularity of the country's pop culture overseas, data showed Tuesday.Local game makers earned US$680 million from receiving fees on their intellectual property last year, up from $570 million tallied in the previous year, according to the data by the central bank.Such earnings compared with a combined income of $120 million logged by other companies dealing with Kor
Nov. 12, 2013
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Paris Baguette opens in Manhattan
Local food conglomerate SPC Group has opened a Paris Baguette bakery outlet in New York City, the company said Monday.This is its second launch in New York, following the first near Times Square early last month. Located at Lexington Avenue and 52nd Street, the shop is situated near populous business districts and residential areas, the company said. The store was mainly designed for takeout coffee in contrast to the spacious outlet at Times Square that allows customers to enjoy a view of Broadw
Nov. 11, 2013
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Samsung, LG jump into smart lightbulb market
Samsung Electronics and LG Electronics have jumped into the smart lightbulb market. This time, LG seems to be ahead of its rival Samsung, industry sources said.LG Electronics has reportedly completed development of the technology for a smart bulb and is working on the release date. “The lightbulb will sport Bluetooth 4.0,” an LG official said. “We are waiting until more phones feature Bluetooth 4.0 next year.”Unlike Bluetooth 3.0, which most phones available now have, the 4.0 version is a short-
Nov. 11, 2013
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CJ denies plan to sell game business unit
CJ E&M, the biggest music and entertainment business firm in Korea, said Monday that it would not pull out of the computer games business. “CJ E&M is currently looking into ways to enhance its competitiveness in the rapidly changing game market, and will not give up on operating its games business CJ E&M Games,” the company said in a statement. The CJ’s games business unit, however, must either buy all the shares of its subsidiaries including ANIPARK Co. and SEED9, or sell its shares of the subs
Nov. 11, 2013
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KNOC signals against new buyouts
The state-run Korea National Oil Corp. is likely to shun new buyout deals for the time being as its CEO said the top priority of the firm next year would be making progress in current oil exploration and production projects.“The company plans to focus its efforts on seeing progress in its ongoing oil E&P projects overseas next year,” KNOC CEO Suh Moon-kyu said. He made the remarks at a press meeting held on the opening day of the Abu Dhabi International Petroleum Exhibition and Conference on Mo
Nov. 11, 2013
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[Photo News] Hana's Kimchi-making
Nov. 11, 2013
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KT seeks to reduce managerial vacuum
KT, Korea’s second-largest mobile carrier, plans to discuss how to fill the managerial vacuum caused by its chairman Lee Suk-chae’s resignation when it holds a meeting of the board of directors on Tuesday, company officials said.Outgoing chairman Lee is expected to submit his letter of resignation at the meeting.The participants will discuss who should lead the company until his successor is appointed and the appointment is approved by the shareholders’ meeting, according to the officials. Pyo H
Nov. 11, 2013
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Telecom giant KT raided over chairman's graft
State prosecutors on Monday raided the offices of KT Corp., the country's top fixed-line operator and No. 2 mobile carrier, as part of their probe into the chairman's alleged corruption.A team of prosecutors and investigators obtained computer hard drives and confidential documents such as accounting books from a total of 13 places, including the company's offices and houses of its executives, to corroborate the charges, prosecutors said.Lee, who is under suspicion of inflicting huge losses on K
Nov. 11, 2013
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[Graphic News] World’s top brands
Apple Inc. topped the world’s most valuable brands list selected by Forbes magazine with a brand value of $104 billion. With a $29.5 billion brand value, Korea’s tech giant Samsung Electronics came in ninth, becoming the only Asian company in the top 100
Nov. 10, 2013
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Russia to woo Korean firms’ investments
Korean companies’ interest in the Russian Far East is likely to be rekindled as Russian President Vladimir Putin and his economic delegation are expected to proactively invite them to the easternmost part of Russia during their visit to Korea this week, market analysts said. “Despite the growth potential of Russia’s Far East, Korean companies have been slow to make inroads into the energy affluent and geographically attractive, but less developed Russian region. Mainly due to its weak infrastruc
Nov. 10, 2013
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[Photo News] Pretty in pink
Nov. 10, 2013
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MVNO subscribers to pass 2.5m mark
The nation’s mobile virtual network operators are expected to see 2.5 million phone subscribers this year, according to a local economic research institute. DIGIECO’s report on “MVNO market trends and prospects” showed that the total number of subscribers would almost double from last year’s 1.3 million to 2.5 million this year. This is a sharp increase from 2011, when the services were launched with 580,000 users. The report predicted that MVNO users would make up 4.6 percent of all mobile subs
Nov. 10, 2013
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Asiana names former ANA specialist as new safety chief
Asiana Airlines on Sunday named Akiyoshi Yamamura, a former safety specialist at Japan’s ANA, as vice president to lead the company’s recently revamped safety team following a fatal crash in San Francisco on July 6.The 65-year-old Yamamura studied mechanical engineering at Meiji University in Tokyo and joined ANA in 1972. He served in several positions overseeing safety measures at the Japanese airline. Most recently he also worked as a safety inspector for the International Air Transport Associ
Nov. 10, 2013
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KISA joins hands with British agencies for cyber security
Korea Internet & Security Agency has forged partnerships with British security agencies in an effort to jointly respond to cyber threats, according to KISA on Sunday. KISA said it agreed Thursday to sign a memorandum of understanding with the British Office of Cyber Security and Information Assurance and four other related organizations at the Cabinet Office in London.The agency will provide its expertise on building and operating a Computer Emergency Response Team for Britain, which will set up
Nov. 10, 2013
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KNOC moves to start commercial production of oil with additional discovery in Iraq
DUBAI -- A joint oil exploration project involving South Korea's state-run oil corporation in Iraq has made an additional discovery of oil in the Middle Eastern country, significantly increasing the prospective for the possible start of commercial sales in the near future, the company said Sunday.The additional discovery was made at the Hawler minefield in Iraq's northern Kurdish region where the Korea National Oil Corp.(KNOC) and Switzerland's Oryx Petroleum had jointly made their first discove
Nov. 10, 2013
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POSCO chief has yet to step down
It seems the embattled POSCO chief executive officer Chung Joon-yang has yet to step down. The nation’s top-ranking steelmaker POSCO was once again shaken by rumors on Friday that its chairman would formally step down at a board of directors meeting on escalating pressure from the Park Geun-hye government.Chung is considered as a man of the previous administration ― and in Korean political circles, state-run and even formerly state-run companies like POSCO, a new government means a new CEO. But
Nov. 8, 2013