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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[Photo News] Global banking award
Nov. 8, 2013
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BASF to open R&D center at SKKU science campus
BASF, a global chemical giant, said that it plans to set up its Asia-Pacific research and development center on Sungkyunkwan University’s Suwon campus, some 30 kilometers south of Seoul.The company’s R&D center, slated to open next year, will serve as its hub for the development of innovative electronic materials in collaboration with SKKU’s natural science department. The German company signed a letter of intent for the project on Thursday with the Ministry of Trade, Industry and Energy in Brus
Nov. 8, 2013
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Posco officials deny chairman’s resignation rumor
POSCO officials on Thursday denied news reports that its chairman Chung Joon-yang is stepping down. Earlier news reports said the chairman of the Korea’s top steelmaker offered to resign under mounting pressure over a series of tax investigations. However, company officials said there are no plans to discuss his resignation at the board of directors meeting scheduled for Friday. By Lee Woo-young (wylee@heraldcorp.com)
Nov. 7, 2013
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Gore Korea wins best workplace award
Gore Korea, the Korean operation of W. L. Gore & Associates Inc., was selected among the “100 Best Companies to Work for in Korea” for the third consecutive year, the company said Thursday. W. L. Gore & Associates is a five-decade-old, U.S.-based manufacturer of fluoropolymer products, and best known as the developer of Gore-Tex fabrics. Great Place to Work Institute, a global research and consulting firm, gave Gore Korea the annual award in recognition of its innovative spirit and liberal corpo
Nov. 7, 2013
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SK calls for cooperation in energy with Britain
The head of SK Energy, an affiliate of SK Group, called for more cooperation with Britain in the energy sector.“Korea and the United Kingdom should seek common points of interest within the ever-diversifying energy sector and establish a foothold for mutual growth,” company president Park Bong-kyoon said.Park was speaking at the Korea-U.K Global CEO Forum in London on Wednesday. He visited London as a member of the business delegation for President Park Geun-hye’s state visit to Britain.The foru
Nov. 7, 2013
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Hyosung Group chief hospitalized amid probe
Hyosung Group chairman Cho Suck-rai has been hospitalized for deteriorating health amid an ongoing investigation into the company for allegations of fraudulent accounting and tax evasion.The 78-year-old chairman was hospitalized at Seoul National University Hospital late last month due to high blood pressure and arrhythmia, according to group officials on Thursday.“The burden of the intense prosecutorial probe seems to have added to his decades-long chronic disease,” an official said.The conglom
Nov. 7, 2013
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DHR raises Asia growth outlook
Global search firm DHR International on Thursday predicted 20 percent revenue growth in its Asian operations next year, doubling its original target of 10 percent.The search firm opened its 12th Asia-Pacific and first Korean office in Seoul in August to strengthen its foothold in the region. The company plans to set up three to five more offices globally by next year, most likely in China, India, South Africa and Turkey, DHR president Christine Greybe said at a press conference in Seoul.She adde
Nov. 7, 2013
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Korean taste appeals to U.K. customers
Demand for Korean food products is growing quickly in the U.K., riding on the rising popularity of Korean pop culture in Europe, Homeplus, the nation’s second-largest discount retailer owned by British retail chain Tesco, said Thursday. “The trend is reflected in the third Taste of Korea promotion event, which was launched on Nov. 5 through Tesco branches in the U.K. for a two-week run,” a company official said. The event began this year on the same day President Park Geun-hye started her state
Nov. 7, 2013
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Naver Q3 net dips 19.5 pct on spin-off
Naver Corp., South Korea's top Internet portal operator, said Thursday its third-quarter profit dropped 19.5 percent from a year earlier on a spin-off of its online gaming business and a one-off factor.Net profit reached 76.2 billion won (US$71.9 million) on a consolidated basis in the July-September period, compared with 94.7 billion won the previous year, Naver, formerly known as NHN, said in a regulatory filing.However, revenue jumped 42 percent on-year to reach 585 billion won in the third q
Nov. 7, 2013
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Holding firms’ debt-to-equity ratios fall: FTC
Korea’s Fair Trade Commission said Wednesday that the country’s holding companies had seen their average debt-to-equity ratio fall, with the figure well within regulatory standards.Korea’s holding companies’ average debt ratio stood at 37.2 percent as of September this year, down from 42.5 percent last year and comfortably below the 200 percent regulatory maximum. Woongjin Holdings saw its capital erode as it faced a liquidity crunch. HiteJinro Holdings’ debt ratio stood at 87.4 percent, follow
Nov. 6, 2013
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Electricity price hike bodes well for solar power
The possibility of an imminent hike in electricity fees may hit the finances of the manufacturing industry, but is also likely to add vigor to the long-stagnant solar power market.Korea’s cheap electricity for industry has long been pointed to as an obstruction to the development of alternative energy resources.“We have reached a consensus that the current electricity fee system needs to be adjusted, but no details have been decided yet,” said Han Jin-hyun, vice minister of the Ministry of Trade
Nov. 6, 2013
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[Photo News] Don't drink and drive
Nov. 6, 2013
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Renault Samsung to produce SM5 for Mitsubishi brand
Renault Samsung Motors will produce its flagship SM5 midsize sedan at its Busan plant so it can carry the Mitsubishi badge as part of a new partnership sealed between the Renault-Nissan Alliance and Mitsubishi Motors on Tuesday. All Mitsubishi vehicles made in Korea will be exported for sale in the U.S., taking advantage of tariff benefits following the free trade pact between the two countries. A more detailed timeframe was not revealed.The new production plan comes after the Renault-Nissan All
Nov. 6, 2013
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Mercedes-Benz debuts E-Class hybrid in Korea
Mercedes-Benz Korea on Wednesday debuted the E-Class E300 BlueTEC Hybrid, the first diesel-hybrid ever to go on sale in Korea. The E-Class luxury sedan is equipped with a diesel-electric power train that combines a 204-horespower, four-cylinder diesel engine with a 27-horsepower electric motor. According to the Korean unit of the German carmaker, its fuel economy is 17.2 kilometers per liter ― the highest among midsize luxury sedans. A stop-start function and regenerative braking also contribute
Nov. 6, 2013
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Ssangyong Motor opens biggest dealership in Istanbul
Ssangyong Motor on Wednesday opened its largest-ever dealership in Istanbul, Turkey, with the aim to expand its global sales network targeting Eastern Europe and the Middle East. The new eight-story building, located on an 11,300-square-meter site in downtown Istanbul, is the largest in size of Ssangyong’s sales outlets in 111 countries. During the opening event, the Korean carmaker also launched its latest vehicles ― the new Korando C (the New Korando in Turkey) and the Korando Turismo (the New
Nov. 6, 2013
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KT&G rolls out limited edition of Lamborghini
KT&G said Wednesday that it released a new limited edition of its Tonino Lamborghini Crispy for sales. The new Lamborghini has a distinctive and clean finishing taste, and comes with a tight threefold tube-shaped filter that helps the flavor and scent last longer, said the country’s largest tobacco manufacturer.The product was recently displayed at the Inter-tabac 2013 in Dortmund, Germany, in September and the Tax-Free World Association Exhibition in Cannes, France, in October. “The product sei
Nov. 6, 2013
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S-Oil named best brand by government
S-Oil won the presidential award at the 15th Korea Brand Awards ceremony, hosted by the Ministry of Trade, Industry and Energy and organized by the Institute for Industrial Policy Studies, the company said Wednesday. S-Oil is the first refiner to receive the government-recognized top brand award. IPS, the organizer, said it evaluated three-year brand management strategies and activities of the award candidates in five areas: brand building, brand management, brand communication, brand equity and
Nov. 6, 2013
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LG Display remains top in large LCD panels
LG Display ranked at the top of the large liquid crystal display panel market in the third quarter of this year, according to industry data. Santa Clara-based consulting firm Display Search’s report showed on Wednesday that LG Display’s market share in large LCD panels for televisions, monitors and laptops rose slightly to 26.1 percent, with 45 million units sold, from 25.2 percent in the previous quarter. The company has topped the quarterly list for four straight years, and is projected to ret
Nov. 6, 2013
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LG Display keeps lead in large LCD panel market in Q3
South Korean display giant LG Display Co. kept its dominant position in the market for liquid crystal display (LCD) panels that are 9.1 inches or larger in the third quarter of the year, data showed Wednesday.Shipments by LG Display reached 45.15 million units in the July-September period, accounting for 26.1 percent of a total 173 million units shipped globally, according to the data by market researcher DisplaySearch. The large LCD panels are usually used for computer monitors, laptop computer
Nov. 6, 2013
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S. Korea, Singapore agree to further liberalize airways
South Korea and Singapore have agreed to allow code-sharing of their flag carriers with those of third countries, allowing freer air travel between the two nations, the South Korean government said Wednesday.The agreement came at the latest round of aviation dialogue held in Seoul for two days from Monday, according to the Ministry of Land, Infrastructure and Transport.The countries' flag carriers are already offering nearly 50 flights per week between the countries, but the start of code-sharin
Nov. 6, 2013