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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French chamber launches Business Women’s Club
The French Korean Chamber of Commerce and Industry launched a Business Women’s Club in a bid to promote women’s role in the workforce through discussions to improve the work-life balance for women in Korea.FKCCI board directors Jenny Kim, a tax attorney at law firm Kim & Chang, and celebrity and businesswoman Ida Daussy launched the club which will be open to all businesswomen in Korea including those working for foreign companies.“The rate of female executives is very high among French companie
May 9, 2013
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American Airlines launches direct flights from Seoul to Dallas
American Airlines announced Thursday that it would from Friday begin a non-stop service connecting Seoul and Dallas, the first direct route by the U.S. airline between the two countries. The daily flight will be operated by a three-class Boeing 777-200 aircraft with a late afternoon departure from Incheon arriving into Dallas the same afternoon, local time, the company said. American Airlines is seeking to expand its presence in Asia, with its merger with U.S. Airways awaiting antitrust approval
May 9, 2013
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SK Hynix to appeal U.S. court order on Rambus payment
SK Hynix, the world’s second-largest chip supplier, on Thursday said it would appeal a recent U.S. court order reducing its payment to Rambus, a U.S.-based designer of high-speed memory chips. The two firms are currently enmeshed in a patent litigation. SK Hynix had hoped for the payment to be thrown out entirely. The order said the payment should be slashed by $250 million, as Rambus had obstructed related evidence. The South Korean chipmaker said it was planning an appeal as soon as the court
May 9, 2013
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Samsung executive apologizes for gaffe over gas leak
An executive of Samsung Electronics Co. apologized on Thursday for his “careless” comments about a recent gas leak at the company’s chip factory.Jun Dong-soo, who heads the memory division of Samsung’s semiconductor business, reportedly told reporters that he “just has to make money” when asked about the hydrofluoric acid gas leak at the company’s chip plant last week.“I sincerely apologize for causing a fuss by making careless comments,” Jun said via a public letter of apology he posted on the
May 9, 2013
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NHN Q1 net rises on robust ad, messenger businesses
NHN Corp., South Korea's top Internet portal operator, said Thursday its first-quarter net profit jumped15.6 percent from a year earlier, buoyed by increased revenue from advertising and messenger services.Net profit reached 157 billion won ($145 million) in the January-March period, compared with a profit of 136 billion won the previous year, NHN said in a regulatory filing.Revenue rose 17.6 percent on-year to 673 billion won in the first quarter, and operating profit gained 10.5 percent to 191
May 9, 2013
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Shipbuilding orders likely to rebound
A global survey has found that falling global shipbuilding orders have hit bottom after a five-year depression. According to Clarkson, a global shipping and shipbuilding market information provider, 277 new shipbuilding orders were reported in the first quarter of this year, which is a 93 percent increase from the same period in 2011 and a 39 percent increase from 2012. The new shipbuilding price index, another indicator to gauge the market direction, stopped falling from November last year, hov
May 8, 2013
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19 Korean vendors named GM’s best suppliers
GM Korea on Tuesday held a special event recognizing 19 Korean suppliers that have recently been named “Supplier of the Year” by General Motors. The Detroit-based carmaker has picked less than 1 percent of its suppliers globally every year to award the honor since 1992. This March, 83 out of the total 18,500 suppliers were named.The Korean unit said that Korea had the second-largest number of winners, following the No. 1 United States. More than 100 people gathered at a Seoul hotel on Tuesday to
May 8, 2013
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Only 1 in 10 SMEs say they are globally competitive
Only about 1 out of every 10 small and medium-sized enterprises in the country said they are or have the potential to become globally competitive, the outcome of a survey released Wednesday showed, calling for a dramatic change in government support for small firms.According to the survey conducted by the Korea Institute for Industrial Economics and Trade, only 12 percent or 47 out of 393 companies surveyed said they were globally competitive in terms of both market share and their ability to ad
May 8, 2013
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UPS Korea names new managing director
UPS Korea said Wednesday that it has named J.K. Rha, former air export and package operations manager at the company, as its new managing director. Rha joined the Korean unit of the Atlanta-based global logistics company UPS in 1990 and has served diverse positions in Korea, Hong Kong and Singapore. He holds a bachelor’s degree in mathematics and master’s in business administration, both from Chung-Ang University in Seoul.His predecessor, Steven Chang, has been appointed as vice president for gl
May 8, 2013
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FSS to impose stricter rule on dormant cards
The financial watchdog said Wednesday it will beef up its surveillance of credit card firms to reduce the hefty number of dormant plastics in the market, which has resulted from heated competition in the industry.The move came as the number of dormant cards in South Korea totaled 23.4 million at end-April, remaining almost flat from 23.5 million tallied at end-January, according to the Financial Supervisory Service.Dormant credit cards refer to accounts without transaction records during a 12-mo
May 8, 2013
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How to make real-world use of big data
What is so new about big data, the tech buzzword that is attracting so much attention these days?After all, plenty of organizations, from global telecommunications companies to stock exchanges, have been handling and sifting though massive amounts of data for years. But in fact, three important trends are converging to usher in a new era of big data, one that will fundamentally transform how businesses operate and how they engage with customers, suppliers, partners and employees.The first seismi
May 8, 2013
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SK pledges W1.2tr ICT investment
SK Telecom is poised to invest some 1.2 trillion won ($1.1 billion) into integrating different facets of the information and communication technology industry to play its part in the government’s “creative economy” initiative. “We hope to set out successful examples of mutual growth based on our sense of social obligation to help contribute to creating a creative economy based on ICT,” said Ha Sung-min, SKT chief executive. It’s time now, he said, for the company to act not only in its own inter
May 8, 2013
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Google, HTC back Samsung in legal battle with Apple
Google, HTC, Red Hat and Rackspace reportedly filed friends of the court briefs in support of Samsung Electronics on Monday urging the U.S. Federal court of Appeals to rule against Apple’s request for a sales ban on Samsung’s Galaxy Nexus smartphone and Galaxy Tab. The support from the Google-led group comes amid an ongoing mobile device patent infringement battle between Samsung and Apple. The briefs stated that companies shouldn’t be restricted because of what they see as a trivial feature tha
May 8, 2013
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Namyang Dairy in crisis
Namyang Dairy, one of Korea’s biggest dairy giants, is taking a turn for the worse following a nationwide uproar caused by one of its salesmen ranting and swearing at its distributor.Ever since an audio file that contained the conversation between Namyang’s salesperson and the distributor was exposed last week on the net, including YouTube, consumers have posted messages on their blogs or taken to the street holding placards urging the general public to stop buying its products ranging from milk
May 8, 2013
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Seoul OKs Mount Kumgang-related biz projects
South Korea has approved 14 business projects related to a scenic mountain resort in North Korea, according to a government Web site Wednesday, raising speculation Seoul may be moving to lift restrictions on the resort that has been put on ice for nearly five years. The Ministry of Unification's Web site showed approval was given on Feb. 15 to businesses that applied to engage in various business operations at the scenic mountain resort on the communist country's east coast.This marks the first
May 8, 2013
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Siemens to transfer energy business to Korea by 2017
Siemens will be building its Asian headquarters for its energy solution business in Korea, the company said on Tuesday, a move that will transfer valuable engineering know-how to the nation. It will be the second such regional head office for the German engineering company in the sector of power generation engineering after one in the U.S., Siemens executives said, stressing that the plans would help create a strong platform for Korea to advance in its electric engineering technology.“This is no
May 7, 2013
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Samsung takes larger slice of smartphone industry’s profits
Samsung Electronics Co., the world’s top smartphone maker, saw its profitability in the smartphone business arena rise in the first quarter on the back of increased sales, data showed on Tuesday.According to the data compiled by global investment banking house Canaccord Genuity, Samsung took 43 percent of the global smartphone industry’s profits in the January-March period, compared with the 26 percent a year earlier.Apple Inc., the iPhone maker, maintained its status as the dominant player in t
May 7, 2013
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April sales at major local department stores drop 1.6%
Sales at South Korea’s major department stores dropped in April from a year earlier, preliminary government data showed Tuesday.According to a report by the Finance Ministry, sales at department stores were estimated to have shrunk 1.6 percent on-year in April. The decline followed a 7.5 percent gain in March.Sales at discount chains also dropped 10.3 percent over the cited period, the report showed. In March, sales fell 4.4 percent.“Retail sales figures for April are expected to be more sluggis
May 7, 2013
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Seoul publishes English booklet on Dokdo geography
South Korea has published an English version of its information booklet on Dokdo, the government said Tuesday, in an effort to strengthen the country’s control of the islets also claimed by Japan.The book offers basic information about Dokdo, along with geography of the islets in the East Sea, according to the Ministry of Land, Infrastructure and Transport.The book, “The Geography of Dokdo,” will soon be distributed to libraries and South Korean diplomatic missions around the world, it said.The
May 7, 2013
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Korea, U.S. to strengthen energy cooperation under FTA
South Korea and the United States plan to sign a pact on close collaboration in the energy sector this week, officials at the Ministry of Trade, Industry and Energy said Tuesday.On the sidelines of President Park Geun-hye’s summit diplomacy in the United States, Korea’s Trade, Industry and Energy Minister Yoon Sang-jick will make a joint declaration on mutual aid on energy development with his counterpart later this week, according to the ministry officials.While the new secretary nominee for U.
May 7, 2013