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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S. Korea hails milestone cargo move via Arctic
South Korea announced Tuesday it had completed its first commercial freight voyage via the Northern Sea Route, amid growing global interest in the increasingly open Arctic Ocean shipping route.The Ministry of Oceans and Fisheries said it had shipped in 44,000 tones of naphtha via the Northern Sea Route in a pilot project aimed at slashing energy transport costs and avoiding piracy risks associated with the Suez Canal.The shortcut between Asia and Europe along Russia's Arctic coast has been eyed
Oct. 22, 2013
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[Newsmaker]LS struggling to contain fallout from scandal
LS Group, the nation’s 16th-largest conglomerate by assets, is struggling to contain the fallout from its units’ involvement in nuclear power plant-related corruption scandals. On Monday, LS Group placed an ad on the front page of the nation’s major dailies under the name of group chairman Koo Ja-yeol, saying that the group would take full responsibility for wrongdoing and inconvenience caused by its affiliate firms and make painstaking efforts to be reborn as a trusted business group. Prior to
Oct. 22, 2013
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[Photo News] E-Goverment Forum
Oct. 22, 2013
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New Kia Soul aims to challenge Mini Cooper
Kia Motors on Tuesday unveiled the 2014 Kia Soul, the first major redesign for the brand’s flagship small wagon that debuted in 2008.With the new, heavily redesigned Soul, the carmaker pledged to compete head-on with its fashionable rival, the Mini Cooper. “In a recent blind test comparing the two cars, more than 70 percent of 150 participants gave higher scores to the Soul than the Mini,” claimed Seo Chun-kwan, Kia’s marketing director. “We just wanted to create a car that everyone would want t
Oct. 22, 2013
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LG Electronics may see profit decline in Q3: report
Top brokerages forecast on Tuesday that LG Electronics would likely post disappointing earnings in the third quarter this year, but saw room for improvement in the last quarter. The market consensus for the firms’ revenue and operating profit was 14.5 trillion won ($13 billion) and 269 billion won, respectively, down 4.5 percent and 43.9 percent from the same period last year, according to a report released this week by FnGuide, a stock information provider.Korea Investment and Securities Co. ca
Oct. 22, 2013
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Paradise to build casino complex near Incheon Airport
Paradise Co., a South Korean casino operator, said Tuesday it plans to build the country’s largest casino near Incheon International Airport, west of Seoul, to meet the demands of the rising number of tourists in Korea.The firm said it will build the state-of-the-art resort dubbed “Paradise City” in Yeongjongdo Island, 40 kilometers west of Seoul, which will include foreigner-only casino facilities, as well as hotels and restaurants.The groundbreaking is scheduled for April next year, and Paradi
Oct. 22, 2013
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POSCO E&C develops new insulation method
POSCO Engineering & Construction, the construction subsidiary of the nation’s largest steelmaker POSCO, developed an all-in-one insulation system jointly with local companies and Ewha Womans University.By connecting a lightweight vacuum insulator to interior finishing material, POSCO E&C had improved its construction capacity and speed, as well as the heat-insulating function of its buildings, officials said.The vacuum insulator had been known for its thinness and light weight but has not yet be
Oct. 22, 2013
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Samsung to focus on three big pillars
With less than two months until Samsung Group carries out its regular year-end reshuffling, major changes appear highly likely.But this time, the focus is not on individuals but on how the corporate structure of the world’s largest electronics company may change in general.The biggest change is that Samsung will most likely streamline its operations to form three central pillars of business ― electronics, non-electronics and finance ― that will be broadly headed by siblings Jay-yong, Boo-jin and
Oct. 22, 2013
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L’Oreal Korea hosts ethics day
French cosmetics company L’Oréal hosted its third “Ethics Day” on Tuesday to remind its employees around the world of the importance of ethical business practices. The event allowed employees to have an informal conversation with the group CEO and regional branch president about ethical issues, company officials said. This year, the four principles of integrity, respect, courage and transparency were designated as markers for ethical practice and employees’ decision-making. Through a web chat sy
Oct. 22, 2013
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CJ shifts gears for Bibigo in U.K.
CJ Foodville, the operator of Bibigo, a popular restaurant chain specializing in bibimbap, has drastically changed the strategy for its London outlet, company officials said.“We had originally entered the market with the concept of fine dining, but we decided this is not going to work,” a high-ranking CJ official told The Korea Herald.Previously, Bibigo had mainly offered fusion Korean cuisine, but it has now moved onto more conventional and traditional dishes.CJ Foodville's public relations tea
Oct. 22, 2013
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[Photo News] Job fair for KOSDAQ-listed companies
Oct. 22, 2013
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China media slams Samsung over 'faulty' smartphones
Samsung Electronics Co., the world's largest producer of smartphones, has been criticized by the official China Central Television (CCTV) station over "faulty" Galaxy S3 smartphones, becoming the latest foreign company to come under fire by China's state-run broadcaster. In a 30-minute special that aired late Monday, CCTV reported a series of claims by Chinese consumers that the Samsung smartphones "suddenly went dead" because of problems related to their memory cards. CCTV also raised questions
Oct. 22, 2013
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Hyundai to recall 27,500 Genesis sedans amid break issue
South Korean automaker Hyundai Motor will voluntarily recall around 27,500 Genesis sedans sold in the United States, a company official said Monday as U.S. authorities opened a probe into their potential brake problems.Hyundai plans to notify the U.S. National Highway Traffic Safety Administration (NHTSA) this week of the decision, company spokesman Miles Johnson said in an emailed statement.Dealers will change the brake fluid and inspect the electronic brake control modules of cars produced fro
Oct. 22, 2013
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Shipbuilding sector likely to see black in Q4
Expectations are rising that the long-stagnant shipbuilding industry may at last rebound out the back of increased orders in the fourth quarter.According to securities information service provider FnGuide, the nation’s top three shipbuilders will still score lower in the third quarter compared to last year, but all are expected to achieve above-target yearly sales with ease.Hyundai Heavy Industries, the world’s largest shipbuilder, is expected to record 1.3 trillion won ($1.25 billion) in sales,
Oct. 21, 2013
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[Photo News] DMZ by bike
Oct. 21, 2013
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OCI breaks ground for North Jeolla power plant
OCI, a Korean green energy solution provider, launched the construction of a cogeneration power plant at the Saemangeum industrial complex in North Jeolla Province on Monday, company officials said.Deputy Prime Minister and Finance Minister Hyun Oh-seok, North Jeolla Province Governor Kim Wan-joo and other prominent figures attended the groundbreaking ceremony. The 1 trillion won ($942 million) project to build a coal-powered combined heat and power plant is the first investment that the Saemang
Oct. 21, 2013
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Hyundai Motor chairman heading off to Europe
Hyundai Motor Group chairman Chung Mong-koo on Monday left for Europe to visit the Hyundai and Kia factories there and the group’s regional headquarters in Frankfurt. According to the group, Chung is scheduled to inspect product quality at Hyundai Motor’s Russia and Czech factories and Kia Motors’ Slovakia plant. Then he plans to be briefed on European sales strategy at the German head office, group officials said. Chung’s trip comes after a meeting with the auto giant’s regional chiefs in Seoul
Oct. 21, 2013
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Coffine Gurunaru, Herry’s sanctioned by FTC
The Fair Trade Commission said Monday that it has ordered two coffee chain operators to correct misleading information given to their nationwide franchise partners.Coffine Gurunaru and Herry’s were found to have provided incorrect information to their partners regarding sales forecasts as a means to expand the number of outlets, the FTC said.They provided “unrealistic and overblown” sales projections when their partners open the stores within a certain period of time.For instance, Coffine Guruna
Oct. 21, 2013
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Charmzone eyes China to become global beauty company
Korea’s skin-care product maker Charmzone, which celebrates its 29th anniversary this year, has continued efforts to expand its presence in the crucial Chinese market over the past decade. Marking the culmination of the efforts, the company was recently selected to sell its products on board China’s top four airlines. A total of eight products, the largest lineup sold by a Korean beauty firm, started selling as in-flight duty-free products via Air China, China Southern Airlines, China Eastern Ai
Oct. 21, 2013
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Top 10 conglomerates' presence falls on stock market
The presence of South Korea's top 10 conglomerates on the local stock market decreased through October this year, though their total market capitalization gathered ground, data showed Monday.The combined market cap of the top 10 conglomerates reached 750.68 trillion won ($707.3 billion) as of Wednesday, up 1.63 percent from end-2012, according to the data compiled by the bourse operator Korea Exchange (KRX).The figure represents some 57.08 percent of the aggregate market capitalization of the fi
Oct. 21, 2013