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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Hyundai-Kia boss calls for tightening belt overseas
Hyundai Motor Group chairman Chung Mong-koo on Tuesday ordered regional chiefs to shore up their production and sales policies in overseas markets in response to a possible sales slowdown in the coming months. According to group officials, Chung was briefed on first-half sales results and current market issues across regions at a meeting with some 60 executives in charge of global operations on Tuesday at the Seoul headquarters. “As the domestic market is expected to continue to suffer in the la
July 16, 2013
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Korea to ban incandescent bulbs in 2014
Incandescent light bulbs, which were introduced in 1887 in Korea, will gradually disappear from everyday life here as the government is banning production and imports of them from next year as part of its energy-saving policy, the Ministry of Trade, Industry and Energy said Tuesday. “The move is based on the plan to phase out low-efficiency lighting, which was announced in December 2008,” a ministry official said. According to industry sources, incandescent light bulbs consume as much as nine ti
July 16, 2013
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Asiana to sue U.S. TV station over pilot slurs
Asiana Airlines said Monday that it had decided to file a lawsuit against a U.S. television station for insulting the pilots of its jetliner that crash-landed at San Francisco Airport on July 6.“We decided to take legal action against KTVU in the United States that aired a report distorting and belittling the names of Asiana pilots,” the nation’s air carrier said in a statement.“We have already selected a local law firm for the lawsuit and plan to submit a petition to a U.S. court,” it added.On
July 15, 2013
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Hanwha’s Iraqi city project creates jobs, helps small firms
In March last year, Iraq’s state-run National Investment Commission announced the National Housing Program, a plan to build 1 million homes as part of efforts to rebuild the country. Under the plan, the Iraqi government launched a scheme to build a new town in Bismayah and Korea’s Hanwha Engineering & Construction Co. won the project. The company signed the $8 billion contract with the Iraqi government to build 100,000 residential units in Bismayah, which is to become the largest satellite town
July 15, 2013
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Merck to bolster OLED investment
The new president of Merck Korea, an affiliate of one of the world’s largest biotechnology and chemical firms, said at his inauguration event Monday that his company would invest more in the organic light-emitting diode business in Korea.“Technological development takes place so fast in Korea. That is the reason why we are here doing business rather than any other places,” said Michael Grund, the newly appointed president of the chemical firm. The 45-year-old president said the firm “will enforc
July 15, 2013
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Renault Samsung starts preorders for electric SM3
Renault Samsung Motors on Monday started taking pre-orders for the SM3 Z.E., the first full-electric compact in Korea that will roll off the carmaker’s Busan production line and go on sale in October.The SM3 Z.E., dubbed a “zero emission” model, is the second all-electric vehicle to be introduced here following Kia Motors’ Ray EV. It is the first electric sedan, the carmaker claimed. The Korean version of the Fluence of the Renault-Nissan Alliance can run for more than 135 kilometers when fully
July 15, 2013
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Hyundai Motor Group wins five design awards
Hyundai Motor Group said Monday the company and its affiliate Kia Motors won five Red Dot Design awards, international design awards given to applaud innovative designs, in four categories. The mother company grabbed awards in three categories ― “Event Design,” “TV, Film, Cinema and Animation” and “Corporate Films” for the outstanding designs of a display hall named “Vision Hall” at one of its training centers, and video arts being displayed at the hall titled “Who am we?” and “Mobius Loop.”Kia
July 15, 2013
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LS C&S wins high-voltage cable project in U.S.
LS Cable & System won a project to supply U.S.-based Southern Maryland Electric Cooperative with extra-high-voltage cables to transmit 230 kilovolts of power, the Korean company said Monday. The cables and connectors will be used for implementing a new power transmission and distribution network being built to handle the increased power demand in southern Maryland, the Korean firm said. The project will help establish an extra-high-voltage cable network for 1.5 kilometers across the Patuxent Riv
July 15, 2013
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KT&G to introduce Korea’s first low-ignition cigarette
Tobacco maker KT&G announced Monday that it will launch the country’s first low-ignition propensity cigarette, or LIPs.The LIPs will more likely naturally self-extinguish when left lit and unattended, said KT&G, the country’s largest cigarette maker by local market share.The company independently developed a “blue band,” a coat of special chemicals on the paper wrap, and will apply it to three of its brands in The One series starting July 23, gradually expanding to the rest of the products.The t
July 15, 2013
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Seoul to raise minimum fuel efficiency standard for cars from 2020
The government is moving to further toughen minimum fuel efficiency standards for automobiles, officials said Monday, in an effort to cut down the country’s energy consumption and also reduce greenhouse gas emissions.According to officials from the Ministry of Trade, Industry and Energy, the government is moving to raise the minimum fuel efficiency requirement of passenger cars to 20 kilometers per liter (km/l) from 2020.Currently, the country has no minimum requirements, though it is set to beg
July 15, 2013
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AirAsia X launches route between Busan and Kuala Lumpur
BUSAN ― Asia’s largest budget carrier AirAsia on Monday said that its long-haul, low-cost carrier AirAsia X launched its first flight connecting Busan and Kuala Lumpur.At the launching event held in Busan, AirAsia CEO Tony Fernandes ― who is also the chairman of English soccer club Queens Park Rangers ― invited the club’s Korean star and AirAsia celebrity representative Park Ji-sung to celebrate the occasion.The new route between Gimhae International Airport and Kuala Lumpur International Airpor
July 15, 2013
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Gov't puts two Woori affiliates up for bidding
The government kicked off Monday its long-pending sale of Woori Finance Holdings Co. by putting two of its bank affiliates up for a bidding, as it takes a full approach in its fourth attempt to privatize the state-run banking group. The state-run Korea Deposit Insurance Corp. (KDIC) posted a sales notice to sell its 56.97 percent stake in Kyongnam Bank and Kwangju Bank, the two regional banks tied with Woori Finance as of July 15, according to the KDIC. The bidding comes as the first part of the
July 15, 2013
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Transport Ministry protests to NTSB over crash probe
The Ministry of Land, Infrastructure and Transport has sent a letter of protest to the U.S. National Transportation Safety Board, displaying unease over the ongoing investigation into Asiana Airlines Flight 214.The ministry on Saturday faxed a two-page letter to NTSB chairperson Deborah Hersman, demanding that the U.S. board implement an impartial investigation, according to officials on Sunday.The NTSB should provide information related to the plane crash on a regular basis and from an objectiv
July 14, 2013
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LG Chem to supply leading solar inverter producer
LG Chem said Monday it would start supplying lithium-ion battery packs this month for Germany-based SMA Solar Technology, currently the world’s biggest solar inverter producer. The battery packs will be used in an energy storage system called Sunny Boy Smart Energy developed by SMA for household use. As the world’s first wall-mounted storage system, the inverter and battery pack have been combined for maximum space and energy efficiency, LG Chem said. The inverter, co-developed after years of re
July 14, 2013
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Samsung outruns rivals in brand loyalty: report
More than half of Samsung customers said that they would continue to choose the same brand rather than a competitor, while only less than a fourth of Apple customers said they would do so, a report showed.Securing the top spot three times in a row since last year in a report called Technology Brand Preference Index, Samsung marked a record rating of 58.7 and also became the only company out of 20 tech firms that scored over the 50-threshhold.The index, released by market research institute Strat
July 14, 2013
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Girl succumbs to injuries sustained in Asiana jet crash
SAN FRANCISCO (Yonhap News) -- A teenage girl died Friday after succumbing to injuries sustained last week during the crash of Asiana Airlines Flight 214 at San Francisco International Airport, authorities said. San Francisco General Hospital did not reveal the name of the girl but confirmed she had been in critical condition. Her death was confirmed by the Chinese consulate in the city, which also said that she was a Chinese citizen. The latest death brings the total number of fatalities to thr
July 13, 2013
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Hyundai’s Accent becomes Russia’s No. 2 best-selling car
Hyundai Motor Co.’s subcompact Accent became the second best-selling car in Russia in the first half of this year, data showed Friday.Hyundai sold 57,009 units of the Accent, called the Solaris in the Russian market, between January and June, according to data posted on the website of the Association of European Businesses based in Moscow.Still, the sales of the Accent in the first six months represent a 2 percent drop from a year ago.The Accent is followed by the Pride subcompact built by Hyund
July 12, 2013
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STX Group completes sale of energy unit
Financially faltering STX Group, the nation’s fourth largest shipbuilder, said Friday it completed the sale of STX Energy to Orix, a Japanese financial service company. “The group’s board approved the sale of its remaining 43.15 percent stake to Orix for 270 billion won ($240 million) in its latest meeting,” the group said in a press release. With the deal, Orix’s stake in STX Energy, whose core businesses are power generation and solar power manufacturing, soared to 93.2 percent. Orix secured a
July 12, 2013
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‘No sign of mechanical faults in Boeing 777’
The U.S. National Transportation Safety Board said Thursday (local time) that the engines and automatic flight controls were working normally on the doomed Asiana Airlines flight that crash-landed at San Francisco International Airport last Saturday. Two Chinese teenagers were killed and 180 of the 307 people on board were hurt, most with minor injuries, when the airliner, completing an 11-hour trip from Seoul, smashed into a seawall bordering the airport’s runway. “The engines and the flight co
July 12, 2013
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S. Korea's int'l airline traffic grows 9.64 pct in H1
International flights to and from South Korea increased significantly from a year earlier in the first half on a growing number of South Koreans going overseas, the government said Friday.In the first six months of the year, the total number of international flights coming to and from the country totaled 167,237, up 9.64 percent from the same period last year, according to the Ministry of Land, Infrastructure and Transport."International traffic surged greatly from the same period last year, ref
July 12, 2013