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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Korea added to key bond index
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Companies to create over 2,000 'decent part-time jobs'
Companies will create over 2,000 "decent part-time jobs" by the middle of next year in response to the government's efforts to raise the country's overall employment rate to 70 percent, a state-run foundation said Wednesday.The foundation for labor-management development said it has decided on Monday to use government funds to support plans by 269 local firms around the country to create a total of 2,118 quality part-time jobs.They include eight subsidiaries of the food and entertainment conglom
Aug. 21, 2013
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Overseas Korean firms won’t come home: poll
Korean firms with overseas plant facilities appear to harbor no plans to bring operations back home mostly because they believe business conditions to be better outside the country, a recent poll showed.According to the Korea Chamber of Commerce and Industry on Tuesday, out of 700 local companies with overseas factories, almost 80 percent said conditions were better where they were compared to back home in Korea.Another 91 percent said they had no plans to relocate their operations to other coun
Aug. 20, 2013
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LG Electronics opens school in Kenyan slum
LG Electronics has opened the LG Hope School in Nairobi, Kenya, to provide the local children with a better learning environment, according to a company statement. This is the first time the electronics maker has built a school in Africa. More than 100 people attended the opening ceremony on Aug. 12, including Kenyan Education Ministry director Richard Belio Kipsang, the United Nations World Food Program’s Kenyan office vice head Paul Turnbull and LG Electronics’ Kenyan office branch head Kim Ju
Aug. 20, 2013
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Number of foreign workers soars in rural areas
The number of foreign workers in South Korea’s farming and fishing sector jumped 3.5-fold in 2012 from three years earlier, data showed Tuesday.According to the data compiled by the Ministry of Agriculture, Food and Rural Affairs, the number of immigrant workers in the country’s farming and fishing sector came to 4,863 last year, compared to 1,390 tallied in 2009.Local households employing foreign workers also jumped more than four-fold to reach 2,677 units over the cited period, the data also s
Aug. 20, 2013
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LG Display keeps lead in large LCD panels
South Korean display giant LG Display Co. kept its dominant position in the market for liquid crystal display panels that are 9.1 inches or larger in the first half, data showed Tuesday.Shipments by LG Display reached 88.96 million units in the January-June period, accounting for 26.2 percent of a total 339 million units shipped globally, according to the data by market researcher DisplaySearch.The large LCD panels are usually used for computer monitors, laptop computer screens and TVs.LG Displa
Aug. 20, 2013
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More Koreans report overseas accounts
More South Koreans reported having overseas financial accounts worth more than 1 billion won ($899,000) in 2013 amid the government’s move to root out tax evasion, the tax agency said Tuesday.The National Tax Service said 678 individuals and institutions reported holding a combined 22.8 trillion won in 6,718 overseas accounts as of July this year, up 22.8 percent from end-December 2012.Market watchers said the rise came as the government has been making efforts to impose a tougher surveillance o
Aug. 20, 2013
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Hyundai Motor union to stage partial strike over wages
Unionized workers at South Korea's largest carmaker Hyundai Motor Co. were to stage a partial strike on Tuesday to demand higher wages, officials said, in the latest work stoppage that could cut vehicle output.Some workers plan to down tools between 1:30 p.m. and 3:30 p.m. while others plan to walk off the job between 5:30 p.m. and 7:30 p.m., according to company and union officials.Hyundai Motor's 46,000-strong labor union will also walk out for four hours on Wednesday, Kwon Oh-il, a spokesman
Aug. 20, 2013
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Hyundai Motor unionists to go on partial strike this week
Unionists at Hyundai Motor Co. decided Monday to go on a partial strike this week after negotiations with the management stalled on wage hikes and welfare benefits.Union leaders said there will be a four-hour strike on Tuesday and Wednesday. The workers will return in full on Thursday when labor-management negotiations are scheduled. Unionists will decidewhat to do depending on how the negotiation round proceeds, the leaders said.Over 70 percent of the unionists at Hyundai Motor, the country's l
Aug. 19, 2013
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Small ICT firms show concern over foreign rivals
A large number of local information, communications and technology companies ― mostly small and mid-sized contractors ― called on the government to help them gain an edge over their foreign counterparts.Science, ICT and Future Planning Minister Choi Mun-kee urged the companies to first secure quality and price competitiveness so they could get more government subsidies. “The government cannot (promote the entry) of companies with substandard quality or price competitiveness,” Choi said, adding t
Aug. 19, 2013
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[Graphic News] Top 10 underage shareholders
Aug. 19, 2013
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Korea sets sights on creative industries
The Korea Herald is publishing a series of articles scrutinizing key aspects and sectors related to the creative economy the Park Geun-hye government is promoting as a national agenda. The series will feature interviews with top government officials and IT gurus, and strategies to embody the policy. The special articles were made in cooperation with the Ministry of Science, ICT and Future Planning and the Ministry of Trade, Industry and Energy. This is the second part of the creative economy ser
Aug. 19, 2013
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ESS shares surge on power-saving drive
The demand for Energy Storage Systems, once shunned as being too premature for the market, is expected to see a rapid expension soon through the Park Geun-hye government’s initiative for creating and launching new power management systems. On Sunday, the government announced its plans to create a new market for energy demand management by applying the technologies from the nation’s information, communications and technology companies, otherwise known as ICTs. The move was in line with Seoul’s bi
Aug. 19, 2013
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Gmarket aims to lead mobile shopping business
Gmarket, the nation’s top online retailer owned by eBay Korea, is ramping up efforts to repeat its success story in the mobile shopping business. Amid the fast filtration of high-end handsets here, the number of smartphone users has already surpassed the 30-million mark.For Gmarket, it was obvious that mobile phones would become a common platform for commerce. The company moved quickly, launching the nation’s first mobile shopping app in 2009. Since the launch, its mobile business has seen annu
Aug. 19, 2013
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‘Caffe Bene to open 10,000 stores by 2020’
Caffe Bene’s goal is to open 10,000 stores by 2020, mainly by focusing on its core competence coffee making, said Kim Sun-kwon, the founder and CEO of Caffe Bene, at a ceremony to open the 1,000th Caffe Bene store on Monday.Caffe Bene is one of the few Korean coffee chains with enough ammunition and ambition to compete with overseas-based rivals such as Starbucks and Coffee Bean. “This was based on my conclusion that in order to expand overseas, a stable domestic operation is the most critical p
Aug. 19, 2013
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Dunhill series gets upgrade
British American Tobacco Korea said Monday that it has completed the launch of four variations of the original Dunhill brand, all of which boast a smoother taste with superior blend.For Dunhill Balance, BAT Korea said it bolstered the two aspects of the product that smokers value the most: quality and flavor.The taste of Dunhill Frost was further improved and Dunhill 1mg continues to deliver unrivaled smoothness, according to the cigarette producer.Last April, Dunhill Lights was reintroduced to
Aug. 19, 2013
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Samsung reclaims top spot in global LTE market
Samsung Electronics won back first place in the global long-term evolution phone market. The world’s largest smartphone maker sold 27.2 million LTE handsets worldwide in the second quarter of this year. With its share reaching 47 percent, Samsung reclaimed the top spot from Apple, according to Strategy Analytics, a global market research firm on Sunday. Its handset sales rose by 17 million and market share rose 22 percent from the previous quarter. Strong iPhone 5 sales helped Apple take an earl
Aug. 18, 2013
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Gov’t to prioritize reducing power demand
To cope with the continued electricity shortage during peak seasons, the government will strengthen policies for power demand control rather than expanding the power supply capacity by building more power plants. The Ministry of Trade, Industry and Energy announced on Sunday it would renovate the nation’s electricity management system by applying advanced information communication technology.The core idea is to adopt technology-based energy management solutions, including the energy storage syst
Aug. 18, 2013
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Regulator to scrutinize smartphone subsidies
The Fair Trade Commission is set to look into allegations involving irregular practices in smartphone subsidy policies.The move came as a number of handset agencies and stores filed a complaint with the FTC against telecom operators that allegedly force them to attain a certain sales target, according to the FTC and industry sources on Sunday. Korea’s mobile carriers have been providing subsidies for agencies based on their sales performance in a bid to promote sales and tap into new markets. “A
Aug. 18, 2013
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Korean firms believed to be dumping steel pipe in U.S.
An independent U.S. trade panel said Friday that there is evidence that South Korean manufacturers are selling steel pipe used by oil and natural gas producers at unfairly low prices in the U.S. market.The U.S. International Trade Commission said it determined that “there is a reasonable indication that a U.S. industry is materially injured by reason of imports of certain oil country tubular goods” from South Korea, India, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Viet
Aug. 18, 2013
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S. Korean firms believed to be dumping steel pipe in U.S.: ITC
An independent U.S. trade panel said Friday that there is evidence that South Korean manufacturers are selling steel pipe used by oil and natural gas producers at unfairly low prices in the U.S. market. The U.S. International Trade Commission said it determined that "there is a reasonable indication that a U.S. industry is materially injured by reason of imports of certain oil country tubular goods" from South Korea, India, the Philippines, Saudi Arabia, Taiwan, Thailand, Turkey, Ukraine and Vie
Aug. 17, 2013