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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Taking away phones during school hours not a human rights violation: watchdog
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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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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MS to buy Nokia’s phone unit for $7.2b
Microsoft Corp. agreed to buy Nokia Oyj’s handset business and license its patents for 5.44 billion euros ($7.2 billion), casting together the lot of two companies trying to stay relevant against fleet-footed technology rivals. The deal changes the nature of both companies. Nokia is exiting from the mobile-phone business it once dominated, leaving it mainly as a network equipment maker. Microsoft, which became the world’s largest software maker on the back of its Windows operating system, is mov
Sept. 3, 2013
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Doosan Heavy seen gearing up to acquire Italian firm
Rumors that Doosan Heavy Industries and Construction might soon take over Ansaldo Energia, a leading Italian power engineering company, are flaring up again after media reported on fundraising efforts for the deal. Ansaldo Energia, owned by Finmeccanica, a state-run Italian defense and aerospace group, was put up for auction last year due to mounting debt. Finmeccanica holds a controlling 55 percent stake in Ansaldo Energia, while U.S. private equity firm First Reserve holds the remaining 45 per
Sept. 2, 2013
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Hankook Tire to supply tires to Mercedes-Benz
Hankook Tire said Monday that it had recently signed a deal with Germany’s Mercedes-Benz to supply tires for the carmaker’s flagship luxury sedan, the New S-Class. Following previous deals with Audi in 2006 and BMW in 2011, the company now provides tire products to all of the so-called German “big three” for the first time as a Korean tire maker. “We would cover about 10 to 15 percent of the total S-Class production,” said president Cho Hyun-sik at a press conference held at a Seoul hotel on Mon
Sept. 2, 2013
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Volkswagen Korea names new chief
Audi Volkswagen Korea said Monday that it named Thomas Kuehl, formerly corporate strategy director at Volkswagen Group Sales India, as the new managing director of the Volkswagen brand in Korea. The new Korean chief started his official term on Monday, according to the Korean unit of the German automotive group. Kuehl, who joined Volkswagen in 1995, has experience in emerging markets and key markets in Europe, from parts and logistics business to sales and marketing. Kuehl majored in organizatio
Sept. 2, 2013
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KT&G to unveil ‘This Africa’
KT&G Corp. said on Monday that it would put its new tobacco product “This Africa,” the latest in its “This” lineup, on sale, starting Wednesday. The country’s largest tobacco maker said, “This Africa” contains tobacco leaves that are roasted and dried in traditional African style. “This” has been one of KT&G’s steady-selling lineups.While most cigarettes with tobacco leaves use direct heat for dehydration, “This Africa” uses smoke-dried leaves that gives a unique scent with a slight tint of swee
Sept. 2, 2013
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[Photo News] Employees' day care center
Sept. 2, 2013
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Hyundai Motor denies tax probe
Hyundai Motor on Monday denied that the tax authorities were launching an investigation into the carmaker.“We know nothing of the matter,” the company’s public relations team said in a statement.Earlier, reports had said the National Tax Service was poised to begin a tax investigation into Hyundai Motor. The move would have marked yet another attempt on the part of the Park Geun-hye government to squeeze companies for more taxes.The foreign auto sector has been quietly but insistently filing com
Sept. 2, 2013
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Biz groups express concern over wage regulations
Top business leaders expressed concerns over an indecisive government’s stance on the definition of ordinary wages and overly strict environment regulations. “Over the past decades, businesses have abided by the government rules on regular wages. However, the government now says it will wait for the decision of the Supreme Court on what constitutes the wage,” said Kim Young-vae, vice chairman of the Korea Employers Federation. “(The government’s act) must have caused a legal dispute if it was do
Sept. 2, 2013
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Malaysia draws more investments in first half
Despite tough economic conditions, Malaysia has managed to secure 97.4 billion ringgits ($29.7 billion) in approved investments during the first half of this year, higher than the 75 billion ringgits it attained in the same period last year, officials said.Nelson Samuel, an investment counselor and director of the Malaysian Investment Development Authority at the Embassy of Malaysia in Seoul, quoted MIDA CEO Datuk Noharuddin Nordin as saying that at this pace, MIDA was confident that the total i
Sept. 2, 2013
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Competition heats up for new smart devices
The global smart device race is becoming fiercer as major tech giants are moving to roll out their new gadgets in September. Samsung Electronics, LG Electronics and Sony will unveil their handsets during the IFA consumer electronics trade show in Berlin on Sept. 6-11. The release date for Apple’s iPhone 5S is reportedly slated for Sept. 20. Samsung’s Galaxy Note 3 is set to debut during a press conference on Wednesday before the IFA event kicks off. It is speculated that the Galaxy Note 3 will f
Sept. 1, 2013
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LG unveils G Pad specs
LG Electronics on Sunday unveiled the specifications of its tablet G Pad, which is slated to launch at the IFA consumer electronics show in Berlin on Friday. The “LG G Pad 8.3,” the first in the company’s G-series, is to roll out in the fourth quarter of this year and its price tag has yet to be fixed.The 8.3-inch Android tablet will feature full high-definition in-plane switching display with a resolution of 277 pixels per inch. The device measures 126.5x216.8x8.3 millimeters and weighs 338 gra
Sept. 1, 2013
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China bans nonregular-route sharing between airlines
Korean airlines are no longer allowed to share routes for their nonregular flights to China after the Chinese aviation authorities decided to allocate only one route per air carrier for unscheduled flights. The Ministry of Land, Infrastructure and Transport said Sunday that it has recently adjusted the number of nonregular flights to China that are operated by seven local airlines from the previous 365 to 311 to meet the regulations.The adjustment was carried out voluntarily by airlines, but the
Sept. 1, 2013
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Boryeong thermal plant sets performance record
The coal-powered unit 3 plant of the Boryeong thermal power complex in South Chungcheong Province set a world record on Sunday in performance by going without a single breakdown for 5,000 consecutive days, according to Korea Midland Power, the complex’s operator. “The 500-megawatt plant has continued trouble-free operations since Dec. 17, 1988. The world record performance proves world-class competitiveness of the nation’s power plant industry,” the company said in a press release.KOMIPO has mad
Sept. 1, 2013
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POSCO sets multi-year model for pay raise deal
Management and labor of 17 affiliates of POSCO, including POSCO Engineering & Construction and POSCO Energy, reached an agreement on pay raise for 2013 and 2014 without conflicts, POSCO said in a press release. Different from the dominant annual pay raise negotiations in Korea, the nation’s top steelmaker and its affiliates adopted two-year term pay raise negotiations in 2007 and 2012, respectively. “POSCO’s agreement on pay increase for multiple years could be a model for the nation’s consummat
Sept. 1, 2013
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Train collision disrupts Seoul-Busan rail traffic
Two passenger trains collided Saturday near Daegu Station disrupting rail traffic between Seoul and Busan, authorities said. The accident, which took place some 300 kilometers southeast of Seoul at 7:15 a.m., involved a KTX bullet train and a Mugungwha passenger train, Korea Railroad Corp. said, adding that no one was seriously injured or killed although some passengers suffered abrasions. All passengers were safely removed from the trains and taken by bus or taxi to nearby East Daegu Station.
Aug. 31, 2013
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Hyundai Heavy wins $1.4b container ship order
Hyundai Heavy Industries, the world’s largest shipbuilder, on Friday signed a $1.4 billion contract with a United Arab Emirates company to build 10 mega-sized container ships, officials said.The order, which was signed in Dubai on Friday, involves the construction of 10 container ships, among which five are to be in 18,000 TEU, or 20-foot equivalent unit, sizes.The ships, once completed, will be delivered to the United Arab Shipping Company consecutively, starting from the end of next year.“With
Aug. 30, 2013
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Hyundai Motor launches new CSR program
Hyundai Motor Group said Friday that it would launch a new social contribution program called “H-Jump School” aimed at fostering creative talent and bridging the educational divide.Group officials said under the new CSR program, the conglomerate selects a group of college students and provides them with resources development education to grow into global talents. In return for receiving such benefits, the selected students are required to help poor teens study, the officials said. The conglomera
Aug. 30, 2013
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Samsung SDS eyes Saudi ‘smart town’
Samsung SDS is pushing for a “smart town” project in Saudi Arabia after the Korean information technology service provider recently announced a plan to downsize its business in Korea to focus on the global market.The concept of a smart town is somewhere between a smart city and a smart building, as the buildings in the town are interconnected by information communications technology.“Samsung SDS is eyeing an ICT-based medical town in Saudi Arabia, as part of its new smart town project,” said an
Aug. 30, 2013
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127 cracks found in Lotte World 2 Tower: report
The 123-story Lotte World 2 Tower, a signature entertainment facility currently under construction in eastern Seoul, was found to have 127 cracks in its columns, but officials claimed that they will not affect its safety or stability.Concerns nevertheless persisted as reports submitted by the Architectural Institute of Korea and the Korea Infrastructure Safety Corporation were inconsistent with each other.SBS CNBC, a local cable broadcaster, reported Friday that the two organizations gave differ
Aug. 30, 2013
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Samsung chief heads to Argentina for IOC meeting
Samsung Electronics chairman Lee Kun-hee left for Buenos Aires, Argentina, on Friday to attend the general meeting of the International Olympics Committee slated to open Sept. 7, company officials said. Lee is currently an IOC member.Sources said Lee would fly to the South American country after a stopover in the U.S. city of Portland.Lee’s wife Hong Ra-hee, the director of Leeum, Samsung Museum of Art, and his daughter and Hotel Shilla CEO Lee Boo-jin accompanied him on the trip.Lee was release
Aug. 30, 2013