Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
3
Korean language teaching expert says demand has outstripped supply
-
4
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
Who is pollster roiling politics with claims of government string-pulling?
-
7
Taking away phones during school hours not a human rights violation: watchdog
-
8
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
9
Korea launches antidumping probe into Chinese steel
-
10
Korea added to key bond index
-
LINE messenger breaks 200 mln user milestone
South Korea's top portal operator NHN Corp. said Tuesday that its free messenger application LINE broke the 200-million download mark as worldwide smartphone users rushed to connect with one another through the mobile messenger service.The milestone came four months after the service drew 150 million users in April and seven months after attracting 100 million this past January. The free messenger service was launched in June 2011.Since the initial launch, the company has expanded the service to
July 23, 2013
-
LG rolls out world's first curved OLED TV in U.S.
Home appliance giant LG Electronics Inc. said Tuesday that it has released organic light-emitting diode (OLED) TVs with curved displays in the U.S.In April this year, the South Korean tech giant rolled out the revolutionary model with a 55-inch curved screen for the first time in the world on its home turf.Usually, images on a flat screen are stretched to match the screen size, making it possible for them to be distorted. However, a curved display, according to LG, helps eliminate such a problem
July 23, 2013
-
LG Chem posts improved Q2 earnings
LG Chem’s second quarter earnings reflected an improvement from the first quarter, with operating profit growing 22.6 percent to 501.5 billion won, while net profit rose 17.8 percent to 401 billion won, the company said in a regulatory filing on Monday. Sales rose by 3.4 percent to reach 5.9 trillion won. LG Chem attributed the growth to product innovation, an upturn in demand based on anticipated economic growth, combined with the falling Japanese currency that helped stabilize raw material pri
July 22, 2013
-
LS Cable & System localizes electric railway system
LS Cable & System became the first Korean company to localize a system that supplies power to electric railways in narrow underground sections and tunnels, officials said Monday.The rigid bar catenary system, a bar-type structure made of aluminum alloy, can be attached to tunnel walls and ceilings without any special accessory and can also be installed in narrow spaces.It was first applied to the Gwacheon Line and the Bundang Line in the 1990s but Korea, lacking the necessary technology, has bee
July 22, 2013
-
Beiersdorf eyes new opportunities in Korea
Does the name “Nivea” ring a bell? Anyone who has purchased sun cream or body lotion, and needed something fast and effective, yet affordable has probably used one product or another from Nivea.Beiersdorf, the Hamburg-based cosmetic company that operates Nivea, has decided to come out from behind the shadows to woo Korean consumers in the open. “We are the world’s No. 1 skin care brand, and we wanted to show that we have more brands in our portfolio,” said Stefan Ernst, managing director of Beie
July 22, 2013
-
Toyota affiliate targets Hyundai sales in Korea
On July 1, Nobuaki Katoh became an honorary citizen of South Korea. That’s remarkable not only because he hails from regional rival Japan, but also because he runs the top component supplier for Toyota Motor Corp., the biggest competitor of Korean champion Hyundai Motor Co.Katoh, president of Denso Corp., partly owned by Toyota, got the citizenship certificate at a groundbreaking ceremony for his company’s new Korean factory. The plant, which will supply Hyundai and its sister enterprises, illus
July 22, 2013
-
Businesses urge tough stance on violent protests
Business lobby groups on Monday raised concerns over illegal and violent labor protests, calling for stern action against a clash that erupted between protesters and riot police at Hyundai Motor’s Ulsan plant during the weekend. On Saturday, some 2,500 activists and union members, who were visiting the plant to support irregular workers there, attempted to take over a factory building and clashed violently with police. Following the clash, which led to dozens of injuries, Hyundai Motor on Monday
July 22, 2013
-
Ministry discord delays duty-free expansion
A long-sought policy project to allow duty-free shops in the arrivals area of Incheon International Airport is likely to be delayed again as the ministries involved remain at odds over the plan.The Ministry of Strategy and Finance and the Ministry of Land, Infrastructure and Transport ― the two main ministries with an interest in the plan ― have failed to reach an agreement for more than six months. The Office for Government Policy Coordination under the Prime Minister’s Office intervened to put
July 21, 2013
-
German firm spurns N.K. leader’s beer garden request
A German brewer has spurned a request by North Korean leader Kim Jong-un to open a beer garden and brewery in his isolated communist country, a news report said.Paulaner Brewery said it did not consider opening a biergarten in North Korea, according to Bild, Germany’s biggest-selling daily, on its website on Thursday.The Munich-based brewery said its capacity is stretched thin because it plans to open beer gardens in 12 new locations, including one in the United States and two others in Russia,
July 21, 2013
-
Daewoo International kick-starts gas operation in Myanmar
KYAUK PHYU, Myanmar ― A 40-minute helicopter flight from the western coast of Myanmar, out in the Bay of Bengal, stands a massive offshore platform.It is here that Daewoo International is to take its first step in its progression from a focus on conventional trade to becoming a comprehensive project developer.“The gas development project in Myanmar is the symbol of our past efforts and future vision,” said Yang Su-yeong, senior executive vice president and chief operating officer of the resource
July 21, 2013
-
S. Korea to spend combined 10 tln won on new drug development by 2017
The South Korean government will spend a combined 10 trillion won ($8.9 billion) on the project to develop 20 new drugs over the next five years in collaboration with private local drug makers, the health ministry said Sunday.The government will also form a fund of 500 billion won to help the local pharmaceutical companies expand their presence in the global drug market by acquiring promising overseas drug makers during the same period, the ministry said.The new drug development project aims to
July 21, 2013
-
Koreans drink over 330 cups of coffee a year
South Korean adults drank more than 330 cups of coffee per person annually in 2011, a report by the Ministry of Agriculture, Food and Rural Affairs said Sunday. In a report on the local consumption of processed foods, the ministry said annual domestic consumption of coffee products totaled about 1.26 trillion won (US$1.12 billion) as of 2011.The consumption volume indicates that adult South Koreans drank an average of 331 cups of coffee a year, said the ministry report compiled on the basis of a
July 21, 2013
-
Lyon mayor seeks closer business ties with Korea
The mayor of Lyon on Friday expressed his hope for his French city and the Korean business community to enhance their business and cultural ties based on their respective areas of strength. “Lyon, which maintains its historical and cultural heritage, can be playing a key role in helping the Korean economy achieve innovation and success,” said Mayor of Lyon Gerald Collomb who concurrently holds the post of Senator. He was speaking at a forum organized by the French-Korean Chamber of Commerce and
July 19, 2013
-
Milan Expo targets Asia
Italy is looking to the 2015 Milan Expo as a potential short-cut out of its economic woes.The six-month exposition will be held the European city famous for its fashion from May 1 to Oct. 31 in 2015. Korea officially became the 62nd country on Friday to sign an official agreement to take part in the event.“Our goal is to attract about 1 million visitors from China, and about 300,000 each from Korea and Japan,” said Giuseppe Sala, commissioner of the Expo Milan 2015 Organization Committee, in an
July 19, 2013
-
Watchdog to root out illegal online brokerages
South Korea’s financial watchdog said Friday it will tighten its surveillance on illegal online-based brokerages in a move to stem unlawful acts that can hurt individual investors.The Financial Supervisory Service said it plans to launch a tougher probe into Gosu (www.gosu777.com), which is presumed to be the largest illegal Web-based brokerage house in the country.Such illegal brokerage houses induce individuals to make risky investments on futures, options, exchange-traded funds and other fina
July 19, 2013
-
Daewoo Shipbuilding wins W665b drill ship order
Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Friday that it has clinched a 665 billion won ($591 million) deal to build a drill ship for a U.S. firm.Daewoo Shipbuilding will deliver the vessel used to search for oil and gas wells in deep waters by August 2015, the company said in a regulatory filing.The shipbuilder did not reveal the name of the buyer.Last month, Daewoo Shipbuilding secured a similar deal valued at $570 million to build a drill ship.A drill ship
July 19, 2013
-
Industry official: about 10 pct of Audi Volkswagen Korea's employees quit
About a dozen employees of vehicle importer Audi Volkswagen Korea Ltd. quit their jobs in recent months despite strong sales in South Korea, an industry official said Friday.The official said 11 out of the 118 employees have left the company since late last year when the local importer of German vehicles replaced its senior management positions.The development comes as Audi Volkswagen Korea posted an operating profit of 52.2 billion won ($46 million) in 2012. It became the No. 1 local vehicle im
July 19, 2013
-
Mobile carriers slapped with penalties
The Korea Communications Commission said Thursday it would slap fines and suspension penalties on the nation’s three telecoms for having offered undue subsidies to attract customers.“The KCC decided to penalize the three mobile carriers ― SK Telecom, KT Corp. and LG Uplus ― for granting financial subsidies to the customers exceeding 270,000 won ($240), the maximum allowed by the law,” said the regulator in a press release. The three telecoms gave out illegal subsidies for up to 72 percent of the
July 18, 2013
-
LG Household & Healthcare executive richest ‘non-owner’
LG Household and Healthcare vice chairman Cha Suk-yong is the wealthiest executive who is not a member of a conglomerate family among the top 100 companies in Korea, data showed on Thursday.Cha topped the list with around 25.2 billion won ($22.4 million) in stock assets, overtaking Koo Hak-seo, chairman of Shinsegae Group, who topped the list last year, according to Korea CXO Institute, which collects data on major corporations. The vice chairman’s assets jumped 7.55 billion won in just a year a
July 18, 2013
-
UPS bets big in Korea with tailored services
UPS Korea’s new head J.K. Rha has taken over the helm in tough times, when the prolonged economic slowdown has cut global demand for shipping. More recently, the crash landing of an Asiana Airlines jetliner is also expected to put more security pressure on the logistics industry, he said. But the regional chief of the Atlanta-based global logistics company said he was also a firm believer that crisis yielded opportunity. “It would be also more rewarding to achieve good results when the whole mar
July 18, 2013