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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S. Korea's industrial output shrinks 0.1 pct on-month in July
South Korea's industrial output shrank slightly on-month in July amid tough economic conditions at home and abroad, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries dropped 0.1 percent last month from a month earlier. This marked a turnaround from a revised 0.6 percent gain in June.Service sector production also contracted 0.2 percent on-month in July, but it expanded 0.8 percent compared with a
Aug. 30, 2013
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KT denies rumors on chairman’s resignation
Telecom operator KT said Thursday that its chairman Lee Suk-chae has no plans to resign anytime soon, expressing concern that groundless rumors may hurt its business.A KT official denied a news report that President Park Geun-hye’s top economic adviser asked Lee, through a third party, to resign before his term ended. Lee’s tenure ends in March 2015. “Supposing this remark is true, it does not reflect KT’s view. The chairman has no plan of an early resignation,” the KT spokesman told The Korea H
Aug. 29, 2013
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Sharp calls off talks with Samsung on copier deal
Japanese tech firm Sharp has abruptly ended its talks with Korean electronics company Samsung Electronics, which is trying to make inroads into the copy machine industry, according to Japanese media Wednesday.The exact reason why the once-leading Japanese electronics behemoth called off the collaboration is not clearly known yet but, cross-license patents that Sharp shares with other Japanese copier makers including Canon are said to have contributed to the breakup. Samsung declined to comment o
Aug. 29, 2013
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POSCO starts Mongolia energy projects
ULAN BATOR ― POSCO, the nation’s top steelmaker, is stepping up business development in non-steel areas in mineral resource-rich Mongolia. The energy business, along with materials, is a new growth engine for POSCO.In a press conference held in Ulan Bator last week, POSCO unveiled the detailed plan to build a coal-to-liquid plant, which converts coal to liquid fuel, in Baganuur, a city about 150 kilometers northeast of Ulan Bator. POSCO developed the plan with local partner MCS Group, the larges
Aug. 29, 2013
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Hyundai Mobis on a roll in global auto market
Hyundai Mobis is gaining a foothold in the global auto market with its leading-edge technologies. The South Korean auto parts maker ranked eighth this year in the top 100 global OEM parts suppliers released by Automotive News, a Detroit-based auto newspaper. It has been on the top list for three consecutive years. Hyundai Mobis’ business with global auto makers has become diversified in recent years. It has supplied parking brakes to GM, lamps to BMW and Volkswagen, intelligent battery sensors a
Aug. 29, 2013
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Hanwha’s housing project in Iraq gains momentum
Determined to shake off its postwar distress and rebuild, Iraq passed a special deregulation for foreign-invested projects, such as the massive landmark housing project led by a Korean builder.The regulation bill to exempt taxes and levy for national investment projects, which was ratified by the Iraqi Ministry of Finance in July, is soon to take effect once the related enforcement ordinance is promulgated, according to local media.One of the key purposes of this unprecedented regulation is to f
Aug. 29, 2013
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CGI expert enlivens the world with lively image
The history of 3-D computer-generated imagery goes back around 40 years, but it was not until the movie “Toy Story” in 1995 that its popularity really took hold. The technology is now so widely used that people now can see 3-D graphics used almost everywhere, in TV shows, movies and even street signboards, and it is now a common way for TV stations to jazz up election coverage with creative 3-D charts and virtual studios. Koo Sung-kyu, who studied visual design at Chung-Ang University in Korea
Aug. 29, 2013
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CJ aims to be No. 1 Asian food company in United States
LOS ANGELES ― CJ Group on Wednesday unveiled its plan to become the No. 1 Asian food company in the United States by 2020 ― a test-bed market for new food trends ― using a unique combination of its supremacy both in the food and entertainment businesses. “Efforts for globalization of Korean food have thus far showed no progress. We will make history in the nation’s food culture business,” said CJ Corp. CEO Lee Gwan-hoon in a press conference. He pledged to elevate the group’s U.S. sales, now at
Aug. 28, 2013
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Big firms hope for policy change
Business leaders are expected to ask for investment deregulation and convey their concern about the political circle‘s move to restrict power of major shareholders when they meet with President Park Geun-hye on Wednesday.Attention is being paid to the Cheong Wa Dae luncheon meeting, the first of its kind, as it comes at a time when tax authorities are stepping up probes into big firms that have been accused of exercising unfair trade activities, and as political parties are seeking to pass “econ
Aug. 27, 2013
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Samsung to unveil new OS for smart devices soon
Samsung Electronics is beefing up its efforts to release a new operating system for smart devices. The electronics giant said Tuesday that it opened up registration for the first Samsung Developers Conference, scheduled to be held in San Francisco from Oct. 27-29.Expectations are high over whether the Seoul-based firm will release a new version of its mobile operating system Tizen ― a project pushed mainly by the Korean firm along with other mobile manufacturers and service carriers including In
Aug. 27, 2013
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LG Display CEO sees rosy future
LG Display CEO Han Sang-beom pledged Tuesday that the display firm would create new products through innovative display technology and cooperation with other sectors at an academic conference in Daegu on Tuesday. “Scientists reason and predict based on technology while novelists and comic artists imagine. The future we are dreaming of can come true by harmonizing technology and imagination,” said CEO Han while giving a keynote speech under the title “Display Your Dream: Better Life with Dream Di
Aug. 27, 2013
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Korea to promote solar panel rentals
Korea, whose use of renewable energy in power generation is extremely low, will promote the solar panel rental business in a bid to boost demand for solar power, officials said Monday.“The high cost of installing solar panels and to maintain facilities has kept households from turning to solar power. The government expects the leasing system to solve the cost issue and create demand for solar power, in particular, among households,” said Song Yoo-jong, director general of energy and resources po
Aug. 26, 2013
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LG aims to revive former glory with G Project
LG Electronics said Monday that it would bolster its “G Project” marketing to promote a premium brand image and take back market leadership. LG started the project last year, labeling its then-flagship smartphone “Optimus G,” followed by “Optimus G Pro.”Officially started in February under three themes ― “great” for great capacity and efficiency, “genius” for smart functionality, and “good design” ― the project now dons additional themes.Products that create a new “generation,” higher-than-expec
Aug. 26, 2013
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LG jumps into price war over OLED TVs
LG Electronics has jumped into the price cut competition on OLED TVs to challenge rival Samsung Electronics and preoccupy the market. LG said Monday that it has lowered the price of its 55-inch, flat screen OLED TV from 11 million won to 9.9 million won ($8,900), and slashed its curved OLED TV from 15 million won to 10.9 million.Customers who already purchased curved OLED TVs can receive a refund of the difference. The amount will be 3.1 million won as 1 million won was given as a cashback. Ther
Aug. 26, 2013
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GS Caltex boosts social contribution activities
GS Caltex, the nation’s second-largest refinery, has strengthened social contribution activities at home and abroad to fulfill its corporate social responsibilities since 2005 under the vision of “making the world beautiful through energy sharing.”This year, one of the firm’s key domestic social contribution activities is a project to counsel children from single-parent families or who have been bullied.“The company launched a task force last year to develop a corporate contribution model for ch
Aug. 26, 2013
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Hallyu fans pack KCON culture festival
LOS ANGELES ― It was more than a two-hour journey for Mariah Frazier and her two friends to get to the KCON festival, where their favorite K-pop stars would perform on the stage. But the 16-year-old girl from Redlands, California, said it was worth it. “Even though you don’t exactly understand the language, you can feel it. I like K-pop, which is totally different from American or European music,” she said, citing the boy-band Super Junior as her favorite. “I also started studying Korean culture
Aug. 26, 2013
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Sales of Hyundai, Kia jump 15.9 pct in BRIC
Hyundai Motor Co. and Kia Motors Corp., South Korea's top two carmakers, saw their sales in the so-called BRIC markets jump more than 15 percent in July from a year ago, data showed Monday.Hyundai and Kia sold a combined 190,000 vehicles in Brazil, Russia, India and China in July, up 15.9 percent from 164,000 units from the same period a year earlier, according to the data released by Hyundai's Korea Automotive Research Institute.Hyundai and its smaller sister company Kia are the two major flags
Aug. 26, 2013
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Half of working population employed by small, medium firms
More than half of South Korea's economically active people are employed by small and medium enterprises, data showed Monday, due mainly to the growing presence of the services sector in the local economy.According to the data by the Statistics Korea, workers employed at small and medium firms came to 12.6 million in 2011, accounting for 50.3 percent of the country's 25 million economically active population.Economically active population refers to people over the age of 15 who are either working
Aug. 26, 2013
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Futures firms' Q1 net hikes 80.1 pct
South Korean futures companies saw their earnings soar 80.1 percent in the first quarter of fiscal2013 from three months earlier, largely due to a hike in brokerage and derivatives investment income, the financial regulator said Monday. The combined net loss of seven local futures firms came to 6.1 billion won ($5.47 million) in the April-June period, compared with 3.4 billion won the previous quarter, according to the Financial Supervisory Service (FSS). The increase in their profits is attribu
Aug. 26, 2013
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Samsung SDI poised to sign deal with Tesla
Samsung SDI and Tesla Motors are in the final stage of signing a contract for the Korean firm to supply lithium ion batteries for the California-based electric carmaker, according to industry sources.“We understand SDI and Tesla are undergoing last-minute tests before the Korean company starts to supply its batteries,” said a source close to the matter. Final steps before the contract is inked include testing the battery life, which will be conducted by Samsung SDI, coupled with driving and safe
Aug. 25, 2013