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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Samsung Engineering hanging by a thread?
Samsung Engineering’s fate may be hanging by a thread, if what industry sources have been predicting for years comes true. Rumors of the affiliate being merged with Samsung C&T, the trade and construction arm of the conglomerate, are old news. However, Samsung Engineering may eventually lose its identity as it folds into Samsung C&T following the merger.Overlapping businesses ― mainly in overseas construction projects ― have long been a problem for the pair, with each accusing the other of secur
Aug. 12, 2013
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Samsung SDI, LG Chem vie to lead energy storage market
Samsung SDI and LG Chem, the nation’s top two battery makers, are now vying for the global leadership in the Energy Storage System, a core energy-saving grid technology. ESS is a device that stores electricity when the demand is low and provides stored electricity when the demand is high. This improves energy efficiency and stabilizes operations of the electricity grid. The two South Korean rivals long competed in the battery markets where they together hold over half of global market share. Sam
Aug. 12, 2013
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[Photo News] New KCCI chief
Aug. 12, 2013
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Can N. Korea be a future partner for Google?
Most of the smart gadgets developed and produced by the world’s most reclusive nation run on Google’s Android operating system, raising the question of why the nation chose to go with the system made by a firm based in its “arch enemy.” “Running other operation systems or developing its own for smart devices must have been difficult,” a market analyst said. “Since U.S. tech firms are not allowed to have business trade at the moment with North Korea, there might not have been many options to choo
Aug. 12, 2013
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Blackout concerns mounting
The operation of two thermal power plants in South Chungcheong Province was suspended on Monday, worsening power supply conditions and raising an alert on a possible forced power cut within this week.The unit 3 thermal power plant in Dangjin with a power generation capacity of 500,000 kilowatts was halted due to a technical problem related to the steam turbine. Operations may possibly resume at the plant as early as next week, said the power plant operator, state-run Korea East-West Power. The u
Aug. 12, 2013
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Apple boosts ad spending in S. Korea: report
Apple Inc. is expected to increase its ad budget in South Korea to better compete with Korean rivals including Samsung Electronics Co., a local news outlet reported Monday.South Korea’s Money Today newspaper, citing industry sources, reported that Apple spent a total of 14.6 billion won ($13.1 million) in the first half of this year. It was the 21st-largest budget among advertisers in the nation. The U.S.-based tech firm’s spending peaked in June, when it spent an estimated 4.7 billion won to ra
Aug. 12, 2013
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Samsung, LG to cut premium TV prices
Striving to boost the sales of their premium TVs, the world’s top two television makers are competing to slash prices, according to industry and company sources. LG said Sunday it would roll out 55- and 65-inch Ultra-HD TVs priced at 5.9 million won ($5,300) and 8.9 million won, down by 1.5 million won and 2 million won, respectively, compared to its premium lineups. Some features, including a sliding speaker that recedes when the TV is turned off and built-in cameras found in the proceeding pr
Aug. 11, 2013
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OB out to boost sales of Stella Artois beer
The country’s largest brewer Oriental Brewery Co. strengthened marketing for global premium brand “Stella Artois.”OB, which is the supplier for the European beer, will now distribute 330 milliliter and 500 milliliter cans to supermarkets and convenience stores. Stella Artois has a 600-year history, and is currently the fourth best-selling premium beer worldwide. It has been assessed as having the world’s fourth strongest brand power, the supplier said.Before the cans were introduced, bottles of
Aug. 11, 2013
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Asiana offers $10,000 to victims
The nation’s No. 2 airliner, Asiana Airlines, on said Sunday it plans to offer $10,000 in compensation to all passengers who were aboard the Boeing 777 plane that crashed in San Francisco last month.“The compensation is a minimum payment to cover medical expenses and inconveniences,” Asiana official said. They added that passengers may still file lawsuits after accepting the compensation, including those who were not injured. The air carrier’s move came as its plane, carrying 291 passengers and
Aug. 11, 2013
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Consumers fume over faulty air-conditioners
Koreans, battling against a heat wave that is threatening a power vacuum, are in another fight of their own, this time against malfunctioning air conditioners.The nation is widely divided between the so-called “Kim Yu-na” air conditioners from Samsung and the “Son Yeon-jae” machines manufactured by LG, with the scales tipping toward the latter. These two companies are virtually the two largest makers of home appliances, although companies such as Mando also take up a sizeable market share in air
Aug. 11, 2013
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Korean firm picked for new Myanmar airport
South Korea’s Incheon International Airport Corp. said Sunday that it has been picked as the preferred bidder for the development of a new international airport in Myanmar.The company, which operates the country’s largest airport, said it will hold detailed negotiations with authorities from Myanmar on the size of the new airport and other matters related to costs and operations, with the final agreement to be reached by the year’s end.Once an agreement is reached, the goal will be to open Hanth
Aug. 11, 2013
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LGE gets approval for New York HQ
A U.S. unit of LG Electronics Inc. won approval from a New Jersey court to build a $300 million headquarters over objections that it would ruin views of the Palisades, a 200-million-year-old chunk of rocky wilderness above the western shore of the Hudson River. Superior Court Judge Alexander H. Carver III yesterday dismissed two lawsuits challenging an approval by the Englewood Cliffs Zoning Board of Adjustment for a new North American headquarters for LG Electronics USA Inc. LG, the world’s sec
Aug. 11, 2013
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Samsung buys German maker of OLED materials
Samsung Group agreed to buy Novaled AG, a German maker of materials used to light up smartphone and television screens, in the third-largest South Korean-German deal in at least a decade.Samsung affiliate Cheil Industries Inc. signed an agreement to buy about 50 percent of Novaled while Samsung Electronics Co. Ltd. will acquire 40 percent, the companies said today in a statement. Samsung Venture Investment already owns 10 percent. The transaction values the Dresden-based firm at 260 million euro
Aug. 11, 2013
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S. Korean firm picked as prime bidder for new Myanmar airport
South Korea's Incheon International Airport Corp. said Sunday that it has been picked as the preferred bidder for the development of a new international airport in Myanmar.The company, which operates the country's largest airport, said it will hold detailed negotiations with authorities from Myanmar on the size of the new airport and other matters related to costs and operations, with the final agreement to be reached by the year's end.Once an agreement is reached, the goal will be to open Hanth
Aug. 11, 2013
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U.S. trade panel bans imports of some Samsung products
A U.S. trade panel ruled Friday that Samsung Electronics Co. infringed on two of Apple Inc.'s patents in making some smartphones and tablet PCs, largely older models.In its final ruling, the International Trade Commission (ITC) placed a ban on the imports of those devices manufactured by the South Korean firm, accepting Apple's complaints filed in 2012."The U.S. International Trade Commission has found a violation of section 337 in this investigation and has issued a limited exclusion order" pro
Aug. 10, 2013
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SK Hynix hits all-time high of 30% in DRAM market
SK Hynix’s market share in the global DRAM industry has hit an all-time high, surpassing 30 percent for the first time, data showed. The South Korean memory chipmaker’s DRAM sales reached $2.56 billion in the second quarter of this year, an increase of 40.7 percent from the first quarter’s $1.82 billion. With the share reaching 30 percent from 26.5 percent during the period, the company retained its world No. 2 title, according to Taiwan-based market researcher DRAMeXchange on Friday.This helped
Aug. 9, 2013
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With new i10, Hyundai to flex more muscle in Europe
Hyundai Motor is flexing its muscle in Europe, with the new-generation i10 compact hatch making its global debut at the upcoming Frankfurt Motor Show in September. The new i10, designed by the carmaker’s Europe design team and built at the Turkish plant in the region, aims to join the heated small-hatchback market, especially against the Volkswagen Up. On Wednesday, Hyundai Motor Europe released the first pictures of the new model, which comes five years after its predecessor went on sale. “The
Aug. 9, 2013
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POSCO foundation to promote donation campaign
POSCO, the nation’s largest steelmaker, will set up a new charity foundation to help effectively manage and propel its 1 percent salary contribution campaign, the company said Friday.The donation campaign, which started in October 2011 among senior officials and executives, has expanded to include POSCO employees, who are now contributing 10,000 won ($9) to 80,000 won per month.The raised funds will be transparently managed by the new foundation to help the poor and underprivileged, company offi
Aug. 9, 2013
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Hyundai Motor union poised to go on strike
The union of South Korea's largest carmaker Hyundai Motor Co. has taken the first step toward a possible strike by calling for mediation with a state-run labor body to try to work out a wage deal with the management, officials said Friday.Officials of the union and the management are set to hold their first meeting with their counterparts of the National Labor Relations Commission next Wednesday, according to the commission.The union's move on Wednesday came a day after it said its talks with th
Aug. 9, 2013
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Jailed CJ chief seeks kidney surgery
Lee Jay-hyun, chairman of the embattled CJ Group and cousin to Samsung Group heir apparent Lee Jay-yong, is expected to receive a kidney transplant at the end of this month at Seoul National University Hospital, the group confirmed to The Korea Herald Friday. “If the court accepts our request that Lee’s confinement be temporarily suspended, he is scheduled to receive the surgery,” said a group spokesperson. Last month, chairman Lee was arrested on charges of tax evasion and embezzlement of corpo
Aug. 9, 2013