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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LG G Pad tablet aims for 100,000 sales
LG Electronics, the world’s third largest smartphone maker, is poised to manufacture 500 prototypes of its new tablets starting in September from its Yantai assembly line in China, sources told The Korea Herald.Based on the prototypes, the company will aim to sell up to a monthly 100,000 units, they said. The current capacity has been set at around 200,000, indicating LG may increase shipments depending on demand. ``It is too early to reveal new tablet plans,'' Na Young-pil from LG Electronics s
Aug. 16, 2013
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Hyundai plans Mexico sales unit
Hyundai Motor plans to set up a sales unit in Mexico in a bid to strengthen its position in the region, the company said Friday.Hyundai Motor has so far been using Chrysler’s sales network to sell cars in Mexico. Hyundai currently sells mostly compact cars in Mexico, such as the Atos and Accent. “This will be a step to increase our presence in the country,” said Park Min-hyuk, a spokesman for Hyundai Motor. During the first half of this year, Hyundai sold just over 500,000 vehicles in Mexico, up
Aug. 16, 2013
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Korean steelmakers set to raise prices
Pressed by an increase in scrap metal prices and a decline in productivity, major Korean steelmakers have decided to raise the price of steel bars.The move was expected to face much industry resistance as it comes amid sluggish market conditions. Hyundai Steel and Dongkuk Steel, the nation’s second and third-largest steel companies respectively, are to raise the unit price per ton from the current 720,000 won ($645) to 740,000 won, officials said Friday. Put together, the two steel manufacturers
Aug. 16, 2013
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Job seekers favor Nexon, Samsung Electronics
South Korea’s male job seekers place top priority on the country’s online game giant Nexon Korea Corp., while most females wish to be employed by Samsung Electronics Co., data showed Friday.According to the data by the leading online job search portal JobKorea, its 1,830 male members included Nexon Korea in their job baskets, while 1,163 females had interest in the leading handset maker Samsung Electronics.Samsung Electronics ranked No. 2 in the male members’ job baskets, trailed by global engin
Aug. 16, 2013
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Process to sell Woori Finance's brokerage unit kicks off
Woori Finance Holdings Co. put up a public notice on Friday to sell its brokerage unit and five other affiliates in the second phase of the government's process to privatize South Korea's top banking group.Woori Finance made it public that Woori Investment & Securities Co. and three other units -- WooriAviva Life Insurance Co., Woori Asset Management Co. and Woori FG Savings Bank Co. -- will be sold in a bundle. Woori Financial Co. and Woori F&I Co. will be put up for sale separately.The group a
Aug. 16, 2013
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Hyundai Motor CEO lashes out at union
The head of Hyundai Motor Co. has pledged to make utmost efforts to conclude a wage deal by quickly resuming negotiations with the union.“We will offer compensation that is commensurate with performance,” Hyundai Motor President Yoon Gap-han said in a message sent to 46,000 union members on Wednesday.Still, he lashed out at the union’s attempt to resolve the wage dispute through a strike, calling it an old-fashioned practice.The message came as the union said more than 70 percent of its members
Aug. 15, 2013
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Samsung unveils V-NAND drive
Samsung Electronics has unveiled a solid state drive based on the world’s first 3D vertical NAND flash. The world’s largest memory chip maker revealed the storage drive fitted with the V-NAND at the Flash Memory Summit 2013 in Santa Clara on Tuesday, according to industry sources. The products used the 128GB multi-level cell three-dimensional V-NAND which recently Samsung began to mass produce. The V-NAND will help realize the same level of durability and reliability of the high-performance as s
Aug. 15, 2013
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SM5 garners new respect with upper hand in fuel efficiency
Renault Samsung Motors is going unconventional with its most conventional vehicle. The SM5 TCE or Turbo Charged Efficiency is the culmination of the carmaker’s efforts to meet the new demands of Korean customers ― a more fuel efficient SM5 that seeks no compromise on power. The SM5 TCE, launched in June, is the latest version of the company’s best-selling family car SM5 and is the nation’s first midsize sedan that has been equipped with a downsized 1.6-liter engine.The company said that top engi
Aug. 15, 2013
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Samsung, LG TVs sweep EISA awards
Samsung Electronics and LG Electronics, the world’s top two television makers, have been selected for several awards from the European Imaging and Sound Association, the companies said in respective statements on Thursday. LG Electronics was chosen for the European Design TV accolade for its curved OLED TVs for a second consecutive year. The curved OLED TV features a slightly curved, IMAX-like screen with a super-slim design of just 4mm. The ergonomic curve of the screen offers a more immersive
Aug. 15, 2013
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Apple resists tide of wider screens
Speculation about the next generation of iPhones coming in a wider spectrum of colors or in larger sizes is rife online, but it appears that the iPhone 6 will not abandon the legacy of late Steve Jobs to create phones that fit in the palm of the hand. Jobs once said that the 3.5-inch touchscreen was the perfect size for consumers. This may be why the Cupertino-based firm has added just half an inch to its iPhones since Jobs passed away in 2011.Sources close to Apple said whether it be the iPhone
Aug. 15, 2013
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Older workers dominate manufacturing sector
On top of conventional obstacles such as economic stagnation and weak demand, the nation’s manufacturing industry is faced with another challenge: its aging labor force.Statistics Korea said Monday that the economically active population as of the end of June was 26.29 million. Of them, 9.36 million, or 35.6 percent, were aged 50 or older.Also, the average age of workers involved in manufacturing businesses was 40.4, according to the Korea Institute for Industrial Economics & Trade earlier this
Aug. 14, 2013
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Samsung denies Lee health rumors
Samsung Group on Wednesday denied media reports that Samsung Electronics’ chairman Lee Kun-hee’s health was deteriorating. The speculation was floated after the postponement of a dinner commemorating the 20th anniversary of Lee’s “New Management Initiative” scheduled for Friday.“The stories (surrounding the chairman’s health) are all groundless,” Rhee In-yong, Samsung’s head of communications, told reporters during a weekly briefing. “He is as healthy as he could be.” He added that if and when t
Aug. 14, 2013
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‘Destiny and Samsung brought me to Korea’
Samsung Electronics has been seeking international talent for years in a bid to become global and innovative. Pankaj Agarwal, a manager of Samsung’s future innovation team, is a key talent among its 1,200 workers from around the world helping to drive innovation at the world’s largest tech firm.“Destiny and Samsung brought me to Korea nearly a decade ago after graduating from the Indian Institute of Technology Kanpur in 2004,” Agarwal said. Before joining the world’s largest tech firm in 2006, h
Aug. 14, 2013
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Assessing the venture boom a decade on
When South Korea’s fast-growing economy rammed head on into the financial crisis in 1997, many people were stricken with the fear of losing their job. Some, however, saw a business opportunity.This handful of people started firms with venture capital provided to high-potential and high risk start-up firms. They became known as the first-generation venture entrepreneurs, most of whom had focused on the IT sector that was relatively new to South Korea at the time. The so-called venture boom was pa
Aug. 14, 2013
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Samsung launches curved OLED TV in U.S.
Samsung Electronics Co., the world's largest flat TV maker, rolled out its first 55-inch curved OLED TV with full HD capabilities in the U.S. with a price tag of US$8,999.Samsung Electronics follows the footsteps of its local rival LG Electronics Inc., which started receiving orders in April for the world's first-ever curved OLED TVs. In June, Samsung introduced the TV set on its home turf, joining the race for next-generation TV market. Consumers in the U.S. can order the 55-inch curved display
Aug. 14, 2013
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Unions of Hyundai Motor, Kia authorize strikes
Tens of thousands of unionized workers of Hyundai Motor Co. and Kia Motors Corp. have voted in favor of striking, officials said Wednesday, setting the stage for a costly walkout after just one year since their last strike that cut into the carmakers' vehicle output.Still, the unions are not allowed to down tools immediately as they were to meet with managements later in the day as part of the mandatory mediation by a state-run labor body.By law, a union cannot go on strike during mediation by t
Aug. 14, 2013
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Protectionism bigger risk than N. Korea: foreign executives
Foreign companies in South Korea see protectionism and labor issues as greater risks than North Korean threats in doing business here, a survey showed Tuesday.Analysts said the poll results indicated that foreign firms, like most of the Korean public, now considered North Korea’s repeated threats as a fact of life in South Korea.The survey was conducted by The Korea Herald from July 1 to Aug. 11 to mark the paper’s 60th anniversary. A total of 103 CEOs and executives at multinational companies r
Aug. 13, 2013
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Kakaotalk CEOs grilled on U.S. crime suspicions: reports
The chief executives of Kakao Talk, one of the most used mobile messenger services here, were allegedly questioned by the U.S. authorities in June over a possible connection to a crime ring. The media reports said the authorities believed co-CEOs Kim Beom-su and Lee Sir-goo, along with a vice president, could have been working with a Korean-American crime organization to illegally import stolen phones to Korea. Lee, however, flatly denied the reports, saying that they were not even close to the
Aug. 13, 2013
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Korea rises as global tech powerhouse
Over the past 60 years, Korea has made massive economic progress from the rubble of the 1950-53 Korean War: Its GDP per capita grew from $67 in 1953 to $23,067 in 2012. The economic achievement has been attributed largely to growth of manufacturing businesses and their exports, led mostly by large conglomerates. In the early stages of economic development between 1948 and 1965, textiles, milling and sugar refining ― called the three “white industries” ― were promoted at government level. Then hi
Aug. 13, 2013
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Naver joins Kakao, Daum in mobile content platform race
The next big trend in South Korea’s portal industry may be mobile content platforms. With Naver, the nation’s top Internet portal operator, slated to launch its mobile content platform soon, the race is shaping up to be a three-way competition between Naver, Kakao and Daum Communications. The Naver Post service is expected to provide a platform where user-created content can be shared on mobile handsets, according to industry sources on Tuesday. Currently, a closed beta test is being operated th
Aug. 13, 2013