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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U.S. trade commission may side with Apple over Samsung
A U.S. trade commission is expected to rule in favor of Apple Inc.'s patent infringement claims against Samsung Electronics Co. this week, granting another home-turf victory to the iPhone maker and raising concern over an import ban on Samsung's smartphones and tablets, industry watchers said Friday.The U.S. International Trade Commission (ITC) is scheduled to give its final ruling on Apple's patent infringement claims against Samsung Friday (U.S. time).Last year, ITC made a preliminary ruling t
Aug. 9, 2013
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Daum Q2 net plunges 23 pct on ads, games
Daum Communications Corp., the operator of South Korea's second-most visited portal, said Friday its second-quarter profit sank 23 percent on declines in its display advertising.Net profit came to 178 billion won (US$160 million) in the April-June period, compared with a profit of 230 billion won a year earlier, Daum said in a regulatory filing.Revenue gained 15.2 percent on-year to 127 billion won in the second quarter, while operating profit dropped 22.5 percent to 243 billion won over the cit
Aug. 9, 2013
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Milk makers put off raising prices in the face of social pressure
South Korean milk producers put off raising prices of their products in the face of mounting social pressure and moves by retailers, industry sources said Thursday.Dairy companies have been pushing for adjusting prices, citing a spike in raw milk that they have to buy from producers. Companies such as Seoul Milk and Maeil Dairies had originally said they wanted to mark up prices by 9-10 percent, despite warnings by various consumer groups and the government. Government policymaker cautioned rais
Aug. 8, 2013
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Daewoo E&C lands $82m Indonesian deal
Daewoo Engineering and Construction, the nation’s third-largest builder, won its first construction contract in Indonesia in 12 years. The company will share a $82 million project to develop a business district in its capital city of Jakarta last week. Daewoo E&C said it won the mixed-use complex development deal named as “District8 Mixed Complex Project” from Agung Sedayu Group, a leading Indonesian developer, last Friday. Under the deal, the Korean company will build two office buildings of 41
Aug. 8, 2013
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Naver Q2 net rises on robust ad, messenger businesses
Naver Corp., South Korea's top Internet portal operator, said Thursday its second-quarter profit jumped 7.5 percent from a year earlier, buoyed by increased revenue from ad and messenger services.Net profit reached 123 billion won (US$110 million) in the April-June period, compared with 114 billion won the previous year, Naver, formerly known as NHN, said in a regulatory filing.Revenue rose 26.3 percent on-year to 723 billion won in the second quarter, and operating profit gained 19.6 percent to
Aug. 8, 2013
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More Korean firms face global patent lawsuits
The number of global patent disputes involving Korean companies has soared amid intensifying trade protectionism around the world, a report suggested on Wednesday. The number of international patent lawsuits between Korean companies and foreign firms skyrocketed to 210 in the first half of this year, a 130.8 percent rise from the same period last year, according to combined data from the Korean Intellectual Property Office and the Korea Intellectual Property Protection Association. The data was
Aug. 7, 2013
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Hyundai Motor on edge over strike fears
Concerns are rising in the nation’s auto industry that a looming labor strike at Hyundai Motor may once again take a toll on the nation’s largest carmaker.Stalled wage negotiations last year led to the costliest strike in its history, causing a production shortfall of more than 1 million vehicles and 11.6 trillion won ($10.4 billion) in lost sales. On Tuesday, the Hyundai Motor union said three months of talks with management on the wage deal have collapsed, a move that may lead to a strike.Kwon
Aug. 7, 2013
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Mass-market, high-end foreign cars gaining ground in Korea
Mass-market and high-end foreign cars are simultaneously gaining ground in South Korea, industry data showed Wednesday, as foreign carmakers introduced moderately priced compact cars.Foreign carmakers have been offering compact cars that sell for less than 30 million won ($27,000) in recent years, in an apparent bid to lure price-conscious consumers in their 20s and 30s.Volkswagen Korea, the local importer of Germany‘s Volkswagen Group, has introduced the Polo hatchback that has a price tag set
Aug. 7, 2013
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Korean maker of 3-D printers sets sights on world
Though still fledgling, the 3-D printing business is garnering much attention from business and even political circles.U.S. President Barack Obama said 3-D printing had the potential “to revolutionize the way we make almost everything” in his State of the Union speech in February, and his administration has pledged to invest in the cutting-edge industry. Having sensed a promising future for the industry six years ago, a pioneering Korean 3-D printer manufacturer is now aiming to penetrate the wo
Aug. 7, 2013
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Google Korea chief to resign, reports say
Google Korea’s managing director Yeum Dong-hoon, who has led the Internet giant’s Korean branch for seven years, will resign late this month, according to news reports. “Yeum has decided to step down this month, and Google is currently looking for his successor,” an official from the company was quoted as saying.The new manager could be picked among the existing members or come from outside the company, he added. It is said that the outgoing managing director had recently made the decision to ta
Aug. 7, 2013
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Guitarist Steve Vai accused of smearing Korean Air
Claims by world-renowned guitarist Steve Vai that Korean Air damaged his electric guitar have been labeled untrue by netizens.According to local web users who analyzed the exchangeable image file format data of pictures on Vai’s Facebook in which the guitar’s neck is snapped, the photos seem to have been taken while Vai was still in Korea and before he got on the plane.The photo taken on an iPhone 5 is dated 3:50 p.m., July 28, with the location listed as the vicinity of the Ansan Rock Festival
Aug. 7, 2013
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Samsung Electronics sees its assets top 200 tln won
Assets held by Samsung Electronics Co., South Korea's top conglomerate by market cap, topped 200 trillion won (US$180 billion) as of end-June this year mainly due to its stellar business performance, data showed on Wednesday.Samsung's assets reached 203.76 trillion won at the end of June, up 12.92 trillion won from three months earlier. The end-June figure is also up 37.46 trillion won from a year earlier, according to its financial statement.Samsung Electronics, the world's top maker of memory
Aug. 7, 2013
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Hyundai Motor union's talks with management on wage deal collapsed
ULSAN-- The union of South Korea's largestcarmaker Hyundai Motor Co. said Tuesday its talks with the management over a nearly three-month-old wage deal collapsed, a move that may lead to a strike. Kwon Oh-il, a spokesman for the Hyundai union, said 45,000 unionized workers plan to vote on Aug. 13 on whether to go on strike, which requires majority approval from union members. The union demanded a hike of 130,498 won ($117) in basic salaries and an extension of the retirement age to 61, as w
Aug. 6, 2013
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Samsung to produce world’s first 3-D vertical NAND flash
Samsung announced Tuesday that it would roll out the world’s first 3-D vertical NAND flash memory this month, claiming that the technology would end memory scaling problems.While the firm declined to comment, industry watchers predicted that Samsung would be applying its 3-D flash memory to its devices by as early as the end of this year. “Samsung will continue to keep the current 2-D flash memory production lines in operation for a while, but will eventually replace them with those for the 3-D
Aug. 6, 2013
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Business groups united against revision
More than 10 of the nation’s top business organizations including the Federation of Korean Industries and the Korea Chamber of Commerce and Industry on Tuesday said they would join hands to oppose a controversial business law revision. According to the revision agreed upon last month, listed firms with assets of over 2 trillion won ($1.8 billion) would be required to adopt concentrated voting, separately appoint auditors and directors, and form a pool of managers who are not members of the board
Aug. 6, 2013
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Foreign car brands set sales record in July
Registrations of foreign-brand cars hit a new monthly record in July, the Korea Automobile Importers and Distributors Association said Tuesday. According to the business lobby for foreign car brands here, 14,953 vehicles were newly registered in July, up 38.9 percent from the same period last year. BMW maintained its top position with 3,023 unit sales in the month, while Volkswagen with 2,696 slightly outperformed Mercedes-Benz with 2,567.The best-selling models were BMW’s 520d that sold 848 uni
Aug. 6, 2013
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Builders’ domestic orders drop 28% in H1
Domestic orders won by local construction companies dropped 28 percent in the first half of the year from a year earlier, industry data showed Tuesday, underscoring a prolonged slump in the country’s construction sector.The builders bagged a combined 39.15 trillion won ($35.12 billion) worth of domestic orders in the January-June period, according to the data compiled by the Construction Association of Korea.The data indicates that domestic orders for the full year of 2013 won by local builders
Aug. 6, 2013
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Ministry to probe airplane’s overshot landing in Japan
The Ministry of Land, Infrastructure and Transport said Tuesday it would investigate a Korean Air flight’s overrun of a runway while it was landing at a Japanese airport. According to the ministry, a Boeing 737 passenger plane operated by the nation’s flagship carrier overran the runway when it landed in Niigata Airport at around 8 p.m. on Monday. There were no injuries reported among the passengers or crew. It is not yet known what caused the landing problem. To prevent a repeat of the incident
Aug. 6, 2013
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Samsung to unveil Galaxy Note 3 next month
Samsung Electronics Co., the world‘s largest smartphone maker, on Monday announced that it will reveal its new Galaxy Note 3 phablet in Berlin early next month. The Samsung Unpacked 2013 Episode 2 event will be held in the Tempodrom, a large event venue, at 7:00 p.m. on Sept. 4, the company said in invitations sent to foreign news media. Industry sources had earlier said that Samsung was planning to showcase the phablet ahead of the Berlin’s IFA to be held from Sept. 6 to 11. The phablet, a cros
Aug. 6, 2013
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Hanwha’s heir apparent drives global solar energy business
Kim Dong-kwan, 31, the heir apparent of Hanwha Group, is expanding his leadership role in the solar energy business, the group’s future growth engine, as the group suffers a leadership vacuum. The group, which is the nation’s 10th-largest conglomerate by assets, has been run by the “emergency management committee” composed of experienced executives from across the group since last August when group owner and chairman Kim Seung-youn received a four-year jail term for embezzlement.Last week, Hanwh
Aug. 6, 2013