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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Rolls-Royce rolls out Wraith coupe to lure younger super-rich
Rolls-Royce, the ultra-luxury carmaker owned by BMW Group, is pinning high hopes on its first coupe, Wraith, to lure younger, successful customers in Asia, a powerhouse region for its future growth. The Wraith, the coupe version of the iconic Ghost sedan, made its Korean debut on Tuesday at a launching event held at the Grand Hyatt Hotel in central Seoul. Prices start at 390 million won ($367,000). Lee Chul-seung, head of Rolls-Royce Motor Cars Seoul, the official Korean importer, wouldn’t revea
Oct. 29, 2013
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Global retailers test out Seoul shopping streets
A growing number of global retail brands, including fashion brands as well as food and beverage chains, are seeing Seoul’s major commercial and retail streets as an opportunity to test out Asian waters.“Commercial and retail streets, better known as high streets in the U.K., have emerged as a key sales and marketing channel for foreign retail brands in Korea since the mid 2000s, when more young Korean consumers started looking for brands to express their own fashion and style beyond brands in de
Oct. 29, 2013
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Ediya Coffee eyes 2,000 stores by 2017
Local coffee chain Ediya Coffee has been busily expanding and on Tuesday, it marked the opening of its 1,000th store. By 2017, the company hopes to double the number to 2,000. “Armed with good prices and compact stores, we plan on opening up to 2,000 outlets over the next four years,” said Ediya president Moon Chang-ki at a press conference. Mainly provincial towns will be targeted, as Ediya believes its brand penetration is still low in those areas. The CEO, however, appeared to be careful abou
Oct. 29, 2013
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Samsung chief’s unlikely friendship with K-pop legend
When Samsung Electronics chairman Lee Kun-hee hosts an event, it is hardly a surprise for big-shot artists to make an appearance; from trot singers to girl groups, Lee’s parties never had a shortage of performances by popular singers.Samsung executives, however, were dumbfounded Monday when Lee went up to singer Cho Yong-pil to thank him for his performance at an event to mark Samsung’s 20th anniversary of its “New Management Initiative.” It is extremely rare for the often-reserved mogul to show
Oct. 29, 2013
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SK Telecom Q3 net almost triples on LTE boost, equity gain
SK Telecom Co., the country's top mobile operator, said Tuesday its third-quarter net profit almost tripled from a year earlier on gains from equity ties with its chipmaking affiliate and its market leadership in the long-term evolution (LTE) market.Net profit came to 502 billion won (US$473 million) on a consolidated basis in the July-September period, compared with 176 billion won a year earlier, SK Telecom said in a regulatory filing.Revenue rose 1 percent on-year to 4.12 trillion won, and op
Oct. 29, 2013
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Samsung logs record worldwide smartphone shipments in Q3
Samsung Electronics Co., the world's largest smartphone maker, shipped a record number of smartphones worldwide in the third quarter of the year on the back of its diversified product mix, data showed Tuesday.According to the data compiled by research firm Strategy Analytics, Samsung Electronics shipped a record 88.4 million smartphones in the third quarter, compared with 76 million in the previous quarter.The South Korean smartphone maker also continued to dominate the global smartphone market
Oct. 29, 2013
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Samsung pitches software makers on tools to enhance its devices
Samsung Electronics Co., seeking to capitalize on its heft in markets from TV sets to tablets, pitched new software tools for developers to make games, sell music and deliver advertising across a range of its devices. The world’s biggest maker of TVs and smartphones opened its first global developers conference yesterday in San Francisco, looking to attract exclusive content and applications. Samsung, based in Suwon, South Korea, told 1,300 attendees it will support Unity, a popular video-game d
Oct. 29, 2013
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SK Hynix posts record operating profit in Q3
SK Hynix announced Tuesday that it posted record-high earnings in the third quarter this year thanks to rising DRAM prices and increased NAND Flash bit shipments for the release of new mobile devices.The chipmaker earned 1.16 trillion won ($1.09 billion) in operating profit and 4.08 trillion won in revenue during the period, up 5 percent and 4 percent, respectively, from the second quarter this year. The operating margin stood at 29 percent, slightly up from the second quarter’s 28 percent, with
Oct. 29, 2013
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[Photo News] Korea's first Spark EV
Oct. 28, 2013
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Samsung marks 20 years since 1993 initiative
Samsung Group garnered much attention from the business sector and the public with a dinner for celebrating the 20th anniversary of the company’s “New Management Initiative” at Shilla Hotel on Monday.In 1993, Samsung Electronics Chairman Lee Kun-hee proclaimed the initiative during a tour to European cities including Frankfurt, under which he called for a complete renovation of Samsung and its employees to become a truly global brand. Around 350 presidents and vice-presidents of Samsung’s subsid
Oct. 28, 2013
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Game makers see death of industry to laws, foreign rivals
Korea was long a powerhouse in online games based on the strength of its well-established IT infrastructure. But now domestic game makers seem to be losing their glory in the face of tough regulations and the growing challenges from foreign rivals. Early this month, ruling Saenuri Party chairman Hwang Woo-yea defined online games as one of four social evils along with alcohol, gambling and drugs. The ruling party also introduced a bill identifying online games as harmful. Korea Internet and Digi
Oct. 28, 2013
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[Photo News] KT chief in Africa
Oct. 28, 2013
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LG Display boosts investment for LCDs
LG Display said it would invest 833 billion won ($785 million) in small and mid-sized liquid crystal display panels from the third quarter of this year. The new investment, with the goal of mass producing the panels by 2015, is largely due to the surge in demand for smart devices like smartphones and tablet PCs, the company said. The amount is an increase of 20 percent from the 4 trillion won investment plan already set early this year. LG Display signed a deal with Gumi city in North Gyeongsang
Oct. 28, 2013
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Exec forum on Asian power supply kicks off
The three-day CEO Conference of the Association of the Electricity Supply Industry of East Asia and the West Pacific, or AESIEAP, was launched on Monday at Coex InterContinental Hotel in southern Seoul, said the Korea Electric Power Corp., the organizer of the event. KEPCO CEO Cho Hwan-eik made an opening speech as the AESIEAP president. Cho will serve as the association chief for the next two years. Under the theme of the role and responsibilities of the electric power industries to make a smar
Oct. 28, 2013
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[Photo News] New Kia Soul
Oct. 28, 2013
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Mad for Garlic going global with ‘Dracula Killer’
Mad for Garlic, a Seoul-based restaurant chain that has built its reputation on its garlic-themed Italian dishes and unique, Middle Ages-inspired gothic ambience, is ramping up its efforts to go global.“Going global is crucial to achieve our ultimate goal of becoming a ‘global dining leader.’ We also hope to help elevate brand awareness toward Korea-made restaurant brands,” said Stanley Choo, director of overseas business and franchise sales at Sun at Food, the operator of Mad for Garlic.As the
Oct. 28, 2013
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KT Skylife Q3 net up 10% on subscriber increase
KT Skylife Co., a South Korean satellite broadcasting provider, said Monday that its third-quarter earnings jumped 10 percent on increased subscriber base.Net profit reached 18.5 billion won ($17.4 million) in the July-September period, compared with a profit of 16.8 billion won from a year earlier, the company said in a regulatory filing.Sales surged 8 percent on-year to reach 149 billion won over the cited period, and operating income also spiked 49 percent to 24.7 billion won, it said.KT Skyl
Oct. 28, 2013
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Voice recognition phone sales forecast to top 1b
Sales of speech recognition handsets are expected to top 1 billion units this year as mobile vendors and app developers see the technology as a tool to enable their services and features, industry data showed on Monday.According to the data compiled by Strategy Analytics, some 1.05 billion handsets with voice recognition capability are expected to be sold this year, compared with 856 million units seen last year.The comparable figure for 2017 will be some 1.42 billion, with voice recognition sma
Oct. 28, 2013
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Samsung, Hyundai dominate net profits of S. Korean companies
Samsung Electronics Co., the world's top smartphone maker, and two other South Korean companies accounted for nearly a third of combined net profits of local firms last year, data showed Monday, in the latest sign of concentration of wealth in a few conglomerates in Asia's fourth-largest economy.The other two companies are Hyundai Motor Co. and its smaller sister company Kia Motors Corp., the two major flagship units of Hyundai Motor Group, the world's fifth-largest carmaker.The combined net pro
Oct. 28, 2013
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Samsung's Lee owns most lavish home among tycoons
Lee Kun-hee, chairman of the world's top maker of smartphones Samsung Electronics Co., owns the most expensive houses out of the country's top 30 business leaders, data showed Monday.The combined declared value of houses held by the 30 business tycoons reached 157.7 billion won ($148.4 million) at end-June, up 9.6 percent from a year earlier, according to the data by market researcher Chaebul.com.Lee has three homes in Seoul's affluent Itaewon, Sameong and Seocho areas, with a combined price of
Oct. 28, 2013