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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LG’s curved OLED TV hits European market
LG Electronics has launched the sales of its curved OLED TV in Germany, company officials said Sunday. Slated to hold a launching event of the product at the HIFI Profis electronics trade show in Frankfurt on Wednesday, the home appliance maker said it would soon begin selling the product in other European countries.“LG is fully committed to delivering the most advanced OLED TVs to European customers,” said Lee In-kyu, vice president and head of the TV division at LG’s home entertainment company
Aug. 25, 2013
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Samsung retains flat-panel TV market lead
Samsung Electronics topped the global flat-screen TV market by sales in the first half of this year, solidifying its status as the world’s top TV maker for the 30 fiscal quarters since 2006. Samsung recorded a 27.1 percent market share in the flat-panel TV market, followed by its longtime rival LG with 16.3 percent and Japan-based electronics firm Sony with 6.7 percent. Samsung also secured the top spot in the LCD, PDP and 3-D TV markets, marking 25.9 percent, 45.2 percent and 31.4 percent marke
Aug. 25, 2013
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Most top conglomerates seeing market prices fall
Nine of the top 10 local conglomerates ― all except SK Group ― have suffered a drastic fall in their market capitalization so far this year.According to the Korea Exchange and financial news provider FnGuide on Sunday, the aggregate market value of the 90 listed companies affiliated to the top 10 conglomerates was 630.9 trillion won ($567 billion) at the close of Friday trading.This was 65.6 billion won or 9.4 percent down from the 696.5 billion won at the beginning of the year.The sharpest drop
Aug. 25, 2013
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Hyundai Motor loses W145.2b from Saturday strike
South Korea’s largest carmaker Hyundai Motor Co. is estimated to have lost 145.2 billion won ($130.3 million) Saturday as its workers boycotted that day’s overtime shifts, sources said.According to the sources, Hyundai Motor failed to produce 7,104 cars Saturday as its unionized workers did not show up to work for their weekend work shift.The move came after Hyundai’s 46,000 union workers staged a partial strike Friday, a day after their leaders failed to work out differences with the management
Aug. 25, 2013
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Breakthrough reported in flexible displays
A South Korean university research team has developed technology that could lead to mass-produced wearable computers or flexible displays. The research team, led by professor Noh Yong-young of Dongguk University, developed bar-coating technology that helps produce thin-film organic semiconductors more easily, according to a statement from the Ministry of Science, ICT & Future Planning.The technology is likely to be applied to flexible lighting and displays, as well as wearable computers such as
Aug. 23, 2013
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Korea losing ground in energy M&A market
Concerns are rising that Korea is downgrading to a minor player in the global energy M&A market as the government has yet to develop a roadmap for the nation’s overseas energy development.According to recent data by the Korea Export-Import Bank, the nation has failed to bear fruit in the global oil and gas M&A markets in the first half of this year. Not only the top two state-run energy giants ― Korea National Oil Corp. and Korea Gas Corp. ― but also leading overseas energy explorers in the priv
Aug. 23, 2013
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Inter-Korean trade hit by industrial park suspension
South Korea’s trade with North Korea declined almost 40 percent in the first half from a year earlier, hit by the suspension of operations at a joint industrial complex in the North, data showed Friday.The value of inter-Korean trade reached $559.1 million in the January-June period, compared with $930 million in the same period last year, according to data by Statistics Korea.The sharp decline was mainly attributable to the suspended operations of the Gaeseong industrial complex in the North’s
Aug. 23, 2013
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Samsung chairman Lee released from hospital
Samsung Electronics chairman Lee Kun-hee, who had been hospitalized for pneumonia, was discharged on Friday, group officials said. According to Samsung Group, Lee was discharged from the hospital in the morning and went straight home. He has been hospitalized for light pneumonia for nearly 10 days in Samsung Medical Center in southern Seoul. “The chairman was scheduled to leave hospital by the weekend but he did earlier as he has made a good recovery,” said a spokesperson for Samsung. Rumors hav
Aug. 23, 2013
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Hyundai to set up auto parts plant in U.S. amid labor strike
Hyundai Motor Group, the world's fifth-largest carmaker, has decided to set up an auto parts plant in the United States, an official said Friday, as its unionized workers staged another partial strike over demands for higher wages and more benefits.Hyundai Dymos Inc. plans to break ground on its US$35 million plant near its sister company Kia Motors' assembly plant in Georgia in October, a Hyundai official said.Hyundai Dymos, which makes transmissions and seats for passenger cars, plans to hire
Aug. 23, 2013
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Hyundai union to stage partial strikes again
Unionized workers at South Korea's largest carmaker Hyundai Motor Co. vowed to stage partial strikes again after they failed to narrow differences with the management over the latest dispute over wages, union officials said Friday. Union spokesman Kwon Oh-il said the 46,000-strong labor union will put down tools for eight hours each on Friday and Monday to press its demand for higher wages and more fringe benefits."The management's proposals fell short of our union's expectations," Kwon said by
Aug. 22, 2013
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U.S. states lure strike-hit Hyundai
Another round of labor woes is looming at Hyundai Motor Group, raising the possibility that the Korean auto giant will seek to shift production to its factories overseas, especially in the all-important U.S. market. Before resuming wage talks with the management on Thursday, union members at Hyundai’s Korea plant staged partial strikes on Tuesday and Wednesday that cost the automaker 85.6 billion won ($76.3 million) in lost output. And two U.S. states ― Georgia and Alabama ― are eyeing the escal
Aug. 22, 2013
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NHN’s LINE expected to issue IPO early next year
TOKYO ― LINE Corp. said Wednesday that it planned to issue an initial public offering once its user base surpassed 300 million worldwide. “LINE would be able to issue the initial public offering when the firm secures a stable number of users, say, over 300 million,” said Hwang In-joon, CFO of NHN, the holding company of LINE Corp.The current number of LINE users stands at 230 million, having grown rapidly in just over two years since its release. He said where the firm would issue the IPOs was “
Aug. 22, 2013
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Daelim bags W1.3tr on plant order from Malaysia
Daelim Industrial Co., a South Korean construction firm, said Thursday that it has won a 1.3 trillion won ($1.16 billion) deal to build a thermal power plant in Malaysia.Under the deal with state-run Tenaga Nasional Berhad, Daelim will complete the construction of the coal-powered plant by October 2017, the company said.The 1,000-megawatt plant will be built in Manjung, 288 kilometers northwest of Kuala Lumpur, it added.TNB accounts for about 55 percent of the Southeast Asian country‘s electrici
Aug. 22, 2013
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KTC to levy anti-dumping tariffs on Chinese plywood
South Korea’s trade commission said Thursday it has decided to levy anti-dumping tariffs on imported Chinese plywood as the importers were underselling their products.The decision by the Korea Trade Commission will impose punitive duties of 2.42 percent to 27.1 percent on Chinese plywood sold here, it said. Whether to actually impose anti-dumping duties will be decided by the finance ministry.The local market for the material reached about 870 billion won ($775 million) last year with Chinese ma
Aug. 22, 2013
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LG Uplus rolls out smart gadget ‘Homeboy’
LG Uplus on Thursday rolled out a new smart device serving multiple home appliance functions. The new device, called “Homeboy,” functions as a TV, audio player, e-book platform, phone and closed-circuit television. The 7-inch screen device lets users access some 50 TV channels, movies, millions of music tracks and tens of thousands of e-books. Some 1,600 children’s stories and 32 different musical instrument applications are also available. Monthly subscription fees vary from 16,000 won to 20,00
Aug. 22, 2013
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Park stresses talks before new laws
Doosan Group chairman Park Yong-maan, who took office on Wednesday as head of the Korea Chamber of Commerce and Industry, stressed more talks among stake-holder groups were needed before the government imposes any new regulations on business imposed. He said companies had provided a pretext for many of the pending “economic democratization” measures that, among other things, aimed to toughen monitoring of business activities. But he stressed that more rules did not entail the best solutions. “I
Aug. 21, 2013
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Samsung, LG, Apple to compete in smart watches
Samsung Electronics, Apple Inc. and LG Electronics, the world‘s top three electronics firms, are rumored to be taking their competition to the next level this fall in the emerging smart-watch market.Each company is ready to release a smart watch ― Samsung with Galaxy Gear, Apple with iWatch and LG with GWatch ― most likely by the end of this year.Samsung is to release Galaxy Gear at the upcoming IFA trade show during its “Unpacked Episode 2” event, along with LG, which is packing more ammunition
Aug. 21, 2013
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New KCCI chief calls for flexible fix for 'economic democratization'
The new head of the Korea Chamber of Commerce and Industry, the country's biggest business lobby group, said Wednesday that problems of wealth divide and fair competition should be solved by more flexible measures than regulations.Park Yong-maan, the chairman of Doosan Group, who took office formally as the KCCI head earlier in the day, told reporters that it is possible to solve the issue for "economic democratization" with in-depth discussions between businessmen and the government without reg
Aug. 21, 2013
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Haptix brings devices closer to users
In an aim to change everyday life, three young entrepreneurs jumped into a start-up and recently launched their first product that could possibly do just that.The 3-D multi-touch controller called “Haptix” works similarly to technology in the movie “Minority Report,” in which detectives drag their fingers on a screen, zooming in and out. Haptix turns any flat surface into a control pad, which users can then use to control their computers, TV or any other device.“A change in how we interact with
Aug. 21, 2013
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Mobile messenger LINE eyes world market
TOKYO ― LINE Corp. on Wednesday said it is out for a larger share of the global mobile messenger market by offering new services that include free video calls.“LINE will not only serve as a communication channel but also play a role as a common language in the world,” said Akira Morikawa, chief executive officer of LINE, an affiliate of NHN, at the “Hello, Friends in Tokyo 2013” conference held in Tokyo this week.LINE currently offers free text messaging, voice calls and group chats both locally
Aug. 21, 2013