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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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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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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Mitsubishi Motors temporarily halts business in Korea
Mitsubishi Motors Corp., a Japanese automaker, has temporarily halted its operations in the South Korean market after suffering from sluggish sales here, an industry source said Monday.According to the source, CXC, the local dealer of the Japanese automaker, has temporarily shut down operations of three showrooms in Seoul and its adjacent city.The closure is sparking speculation that Mitsubishi Motors may consider pulling its business from the Korean market, industry watchers said.But an officia
July 1, 2013
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Mizuno launches Korean unit
Sporting goods maker Mizuno Corp. kicked off its Korean operation in Seoul last week, the Tokyo-based company announced Monday.Mizuno Korea Ltd. noted that the launch Friday was reflective of Korea’s mounting achievements in sports, golf, baseball and soccer in particular. “We are willing to unfold an aggressive marketing strategy, with high expectancy of Korea’s growth in the sporting goods market,” Mizuno Korea wrote in a statement. Kim Chang-byeom, the chief executive of local sporting goods
July 1, 2013
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Nongshim Kellogg names new chief
Nongshim Kellogg said Monday that Kim Jin-hong, Kellogg’s regional head of Southeast Asia, was named its chief executive. Kim, 46, is an excellent brand maker who earned his position through his rich experience in supply chain, marketing and project management since he joined Kellogg in 1999, the company said. The new CEO formerly served as marketing head of Kellogg’s Japanese and Korean units. Founded in 1906, Kellogg has grown into a food manufacturer that holds about 42 percent global market
July 1, 2013
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Samsung's Q2 operating profit seen to top record 10t won
Samsung Electronics Co., the world's top maker of smartphones, memory chips and flat-panel TVs, is projected to reap a record 10 trillion won ($8.76 billion) in operating profit in the second quarter thanks to steady sales of its latest Galaxy smartphone line-up and improved display and chip businesses, data showed Monday.Samsung Electronics' operating profit in the April-June period is expected to reach some 10.22 trillion won, according to the data compiled by financial information provider Fn
July 1, 2013
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[Graphic News] Brand value in Korea
According to Brandstock, a brand consultancy in Korea, Samsung Electronics’ Galaxy smartphone series topped the list for brand power for the second half of this year. Also noteworthy was mobile messenger Kakao Talk jumping to 15th, from 28th in the first half of the year.
June 30, 2013
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TRC Korea helps firms settle in Russia
Russia is one of the most difficult markets to penetrate due to its unique business environment, prioritizing trust among partners over work, verbal promise than contract, and price over quality. TRC Korea has been supporting firms which hope to introduce their products and services and gain ground in what seems to be an impervious market for 12 years. As patience and constant efforts are important in doing business in Russia, Kang Nam-young, president of the consulting firm, emphasizes the impo
June 30, 2013
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Beer up, wine and whiskey down
Korea’s prolonged low growth has changed the consumption trend of alcohol beverages, with more consumers opting to drink inexpensive beer over premium spirits and wine.This pattern along with other variables, such as the hotter weather and the emerging issues of domestic beer lacking quality taste, have boosted sales of foreign beer to surpass those of wine for the first time over the last month.Also, the economic slowdown has further shrunk the domestic whiskey market, according to market data
June 30, 2013
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POSCO to pick 200 students as scholarship employees
The nation’s top steelmaker POSCO is to expand its scholarship program this year and hire 200 university students during their school years, officials said Sunday.Since 2009, the company has selected 100 sophomores every year and offered them scholarships until they graduate and join POSCO as regular employees.From this year, POSCO doubled the number to 200 and expanded the system to its subsidiaries ― POSCO Engineering & Construction, POSCO Energy and Daewoo International.“The POSCO scholarship
June 30, 2013
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DSME to build largest warship for Norway
Daewoo Shipbuilding & Marine Engineering, one of the nation’s top three heavy industry players, won an order to build a $230 million battleship for Norway, officials said Sunday.The ship, which is to become the largest warship in the history of the Northern European state, will be delivered to the Norwegian Navy by September 2016.Its key function is to procure and supply material for the navy as well as to protect private merchant ships out in the open seas.This was a second warship order for th
June 30, 2013
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The man driving BMW’s success in Korea
For BMW, competition is everywhere. But having been the best-selling premium car brand here for the past 13 years, BMW Korea, led by CEO Kim Hyo-joon, now takes a more relaxed approach. “We no longer do things to catch up with others. Instead, we stay focused on delivering our best brand value to customers,” Kim said in an interview with The Korea Herald. Kim, 56, is something of an icon of the stellar growth of the nation’s import car market.In 1995, when the former regional head of the drugmak
June 28, 2013
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Big dreams for BMW’s new 5 Series
MUNICH, Germany ― Wait no more: BMW this week held its global launch of the much anticipated new BMW 5 Series at its Munich headquarters.The latest Sedan, Touring and Gran Turismo models are expected to once again tug at the heartstrings ― and purse strings ― of faithful BMW fans, especially since the cars have become newer and more efficient while still staying true to the classic BMW style. As the carmaker’s best-selling line, the 5 Series is one of BMW’s most critical segments. The current si
June 28, 2013
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Firms expand China investment
The nation’s top business groups, including Samsung, Hyundai Motor, SK and LG, are expected to unveil a new investment plan during the state visit of President Park Geun-hye to China in a bid to woo the world’s largest market and for business expansion, industry sources said. On Friday, SK Group, the nation’s third-largest conglomerate, announced a joint-venture between its chemical subsidiary SK Global Chemical and China Petrochemical Corp., or Sinopec, China’s state-run and largest oil company
June 28, 2013
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Kumho Petrochemical to join solar power biz
Korea Kumho Petrochemical Co., the chemical subsidiary of Kumho Asiana Group, has decided to promote the solar power generation business as its future growth engine.KKPC announced on Thursday that it would enter the solar energy market through its newly acquired subsidiary, Korea Energy Power Plant, a special purpose company established last year.The chemical company incorporated the energy corporation as its sixth subsidiary late last month by acquiring 80.77 percent of its shares.KEPP recently
June 27, 2013
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Daewoo E&C targets nuclear power projects
Daewoo Engineering & Construction, the nation’s third-largest builder, is stepping up its efforts to win engineering, procurement and construction contracts overseas in the nuclear power plant sector, the company said in a press release. Daewoo E&C is a latecomer to nuclear power plant construction compared with other builders such as Hyundai E&C, but it quickly caught up to become the first builder to have capabilities from plant design to construction by winning a nuclear plant design deal fro
June 27, 2013
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Samsung unveils curved OLED TV on home turf
Samsung Electronics’ first curved OLED TV hit the shelves on Thursday, heating up the race to take the lion’s share of the world’s fledgling premium TV market. At a showcase event of the 55-inch curved OLED TV at its headquarters, the world’s tech leader pledged it to provide future-oriented products and services and begin a “Zero Pixel Defect” initiative in pursuit of defect-free screens for its OLED TV models. “There are now two kinds of TVs: Samsung TVs that evolve over time and non-Samsung T
June 27, 2013
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Songdo seeks to become global education hub
The Incheon Free Economic Zone has invested in attracting global educational institutes, in the belief that it is important to attract global talent to build the reputation of Songdo as an international city. It has made efforts to provide the facilities and resources to educate high-caliber talented people. At the center of these efforts is Songdo Global University Campus, which just completed its first stage of development. Located on a 295,000-square-meter site in the seventh zone of Songdo I
June 26, 2013
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G-Tower in Songdo, hub building for U.N. offices
G-Tower in Songdo is expected to become a hub for U.N. offices in Korea. This year, the United Nations Economic and Social Commission for Asia and the Pacific and North-East Asia Office moved to G-Tower in the Incheon Free Economic Zone. Three more U.N. offices, including the Global Climate Fund, also plan to move to the same building. UNESCAP-ENEA occupies the sixth and seventh floors of the building, and there is a library that exclusively houses U.N. materials as well as state-of-the-art conf
June 26, 2013
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Samsung to show tech prowess at innovation forum
Samsung Electronics will open its Innovation Forum on Thursday where the global tech giant will show off its technology prowess.“We (Samsung) have been growing to the point where we should light the way in the market like a lighthouse,” said Kim Nam-yong, a vice president of Samsung Electronics’ Corporate Management Office at a media event the day before the opening of the Samsung Innovation Forum. The self-assessment was also reflected at a closed-door event, held earlier this month, in which e
June 26, 2013
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Renault Samsung sees less as more in engines
Renault Samsung Motors is aiming to lead the nation’s engine-downsizing trend with the recent launch of the SM5 TCE, powered by a 1.6-liter turbocharged gasoline engine. It is the first time that a midsize sedan in Korea has been equipped with the smaller 1.6-liter engine. With emissions regulations tightening globally, carmakers have poured substantial resources into fuel-efficient vehicles that are no less powerful. Taking advantage of the Renault-Nissan alliance, the Korean unit of the France
June 26, 2013
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Sheaffer marks centennial milestone
PENSHEAFFERSheaffer, the world’s leading fountain pen manufacturer, commemorates its 100th anniversary this year, as it continues to expand its business worldwide and innovate its products.Celebrating the milestone, the U.S.-based luxury pen maker released limited editions ― 45 sets of the Sheaffer Centennial Solid Gold Fountain Pens, 516 Sheaffer Centennial Limited Edition Sterling Silver models and 1,913 Sheaffer Centennial Legacy Heritage Sterling Silver editions ― priced between 1.5 million
June 26, 2013