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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[Graphic News] Korea remains stable in food security
Korea ranked 21st for food security in a global survey of 105 countries, posting a score of 77.8 out of 100, according to the Korea Rural Economic Research Institute on Monday. The index was created by the U.K.-based Economist Intelligence Unit, using data on food affordability, availability, quality and safety of each country surveyed. The U.S. topped the index, securing a score of 89.5, followed by Denmark (88.1) and Norway (88.0). The survey, however, didn’t use food self-sufficiency data to
April 22, 2013
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L’Oreal teams up with Hongik Univ.
L’Oreal chose Hongik University in Seoul as its first Asian partner for an academic-industrial collaboration program, called the “L’Oreal Open Innovation Packaging Challenge.”Since 2011, the world’s biggest global cosmetic company has chosen universities around the world to cooperate for packaging design. About 100 students have proposed more than 300 ideas and 12 of them have won prizes so far. Hongik University was selected as the top design university in Asia to carry out the project for six
April 22, 2013
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‘Korea saved European outdoor brands’
European outdoor wear and equipment brands such as Millet of France were hanging by a thread when demand in Korea began to jump over 30 percent each year as hiking became fashionable and hikers started to dress up.“Due to strong nationalism in terms of the brands and differences in tastes and sizing, the European market is very fragmented, meaning the French only buy Millet and the Germans only buy Jack Wolfskin,” Julien Provot-Ragueneau, senior executive officer at MilletEdelweissHoldings, said
April 22, 2013
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POSCO dismisses exec over ramen rage
The nation’s leading steelmaker POSCO dismissed on Monday an executive of its power generation subsidiary POSCO Energy, who reportedly physically and verbally abused a female flight attendant.“The corresponding official has been dismissed from his current post and other follow-up measures will be implemented,” said a POSCO official.The disputed man, identified by his family name Wang, is known to be an executive director in the renewable energy sector of the POSCO subsidiary.The executive was re
April 22, 2013
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Debts held by public firms grow to W400tr, threatens nation’s finances
The amount of debt owed by public companies as of last year approached almost 400 trillion won, leading to concerns that the nation’s fiscal soundness may be at risk.The combined debts to be paid by the 28 state-owned firms as of December last year were 393 billion won ($350 billion), up 8.7 percent from the previous year, an online news provider reported Sunday.The figure also took a large part of the government’s total debt, which was some 445 trillion won.The corresponding public firms includ
April 21, 2013
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Kumho to make tires for electric SM3 compact
Kumho Tires said Wednesday that it will provide the nation’s first electric car-only tires for Renault Samsung Motors’ new all-electric compact SM3 Z.E. from October this year until 2018. The tire maker recently signed an agreement with the Korean unit of the France-based Renault Group to supply the SM3 Z.E. with its low-resistance tires exclusively developed for electric vehicles.Kumho also launched an electric-car tire brand, WATTRUN, pledging to ramp up efforts to take an early edge in the em
April 20, 2013
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It’s the journey that matters
To Koreans, Baekdu-daegan, nicknamed the “spine of the Korean Peninsula,” is not just a chain of mountains running across the country. It is also a symbol of the peninsula’s history, culture and scenery.In the early 20th century, the mountain range and the surrounding regions not only offered splendid landscapes but also supported the nation’s economic growth, with its rich volume of natural resources.However, with the decline of the timber and coal industries over the years, the area faded from
April 19, 2013
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Traveling down memory lane
To lure tourists to the hidden spots of the central inland regions, KORAIL launched exclusive sightseeing trains ― the “O-train,” which loops around major cities, and the “V-train” which cuts through the mountainous area of the Baekdu-daegan valleys.The O-train, which runs from Seoul through Jecheon, Yeongju and Taebaeksan Mountain, has been designed to show Korea’s seasonal landscape. The “O” refers to the train’s circular route. It allows passengers to view the landscape through a camera mount
April 19, 2013
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Korean Air chosen as Boeing’s best supplier
Boeing named Korean Air as its best supplier in the “pathfinder” category for its notable progress in manufacturing aircraft components.The world’s largest aircraft manufacturer gave the top award to Korean Air at the annual “Supplier of the Year” award ceremony held in San Diego on Thursday.Starting with wing parts for Boeing 747 in 1986, Korean Air has been producing components for Boeing’s 717, 737, 767, 777, 787 and 747-8 aircraft.Korean Air also received the award in 2001 and 2007.Boeing aw
April 19, 2013
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LG Chem’s Q1 operating profit falls 8.5 percent
LG Chem, a leading Korean chemicals and rechargeable battery maker, said Friday that its operating profit in the first quarter of this year fell 8.5 percent to 408.9 billion won ($366.4 million) compared with the same period a year ago due to the continued minus growth in its battery business. The company said its sales and net profit also dropped 0.6 percent to 5.7 trillion won ($5.1 billion) and 10.6 percent to 340.4 billion won ($350 million), respectively.Operating profit of two other busine
April 19, 2013
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Budget carriers flocking to Korea
Singapore Airlines’ Scoot has joined the heated competition among budget carriers in Korea, announcing Tuesday that it would start the first low-cost services connecting Incheon and Singapore from June 12. Even though the company didn’t disclose its detailed pricing policy, the round-trip fares to Singapore were expected to be as much as 40 percent cheaper than other full-service carriers. “Our exceptional value airfares offer the people of Korea even more reasons to visit Taiwan, Singapore or a
April 19, 2013
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FTC chief nominee wins parliamentary nod
President Park Geun-hye's nominee for chief of the nation's antitrust watchdog won parliamentary approval Friday following a confirmation hearing that tested his suitability for the job.Noh Dae-lae, a former senior finance ministry official and former head of the state arms procurement agency, was tapped by the president last month to lead the Fair Trade Commission after Park's first nominee resigned over allegations that he kept secret overseas bank accounts in order to evade taxes.In Thursday'
April 19, 2013
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Samsung Electronics ranks 20th on Forbes' Global 2000 list
Samsung Electronics Co., the world's top maker of smartphones, memory chips and flat-panel TVs, joined the elite 25 companies on the annual Global 2000 list of biggest publicly traded companies released by Forbes, ranking 20th this year, up six notches from last year.Hyundai Motor Co., South Korea's leading automaker, ranked 89th, also up from last year's 96th spot, according to the list on the Forbes' Web site on Friday.A total of 65 South Korean firms, including POSCO (184th), Shinhan Financia
April 19, 2013
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Mobile sign-up fees to be abolished by 2015
The three mobile carriers ― SK Telecom, KT and LG Uplus ― will be banned from charging new customers phone sign-up fees after 2015 under the new government’s drive to slash the financial burden on ordinary households.In its policy briefing to President Park Geun-hye on Thursday, the Ministry of Science, ICT & Future Planning said it would ban the start-up fees in the mobile industry on a step-by-step basis.The ministry plans to instruct the three companies to initially cut 40 percent of the curr
April 18, 2013
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Korean unit to lead Renault’s design projects in Asia
Renault Samsung Motors said Thursday that the carmaker had revamped its existing design center to become “Renault Design Asia,” leading the Renault-Nissan Alliance’s car design projects on the continent. The Korean unit of France-based Renault Group will play a leading role in developing the next generations of its flagship mid-size sedan SM5 and the QM5 sport utility vehicle, the company said.The new announcement came after Carlos Tavares, chief operating officer of Renault, hinted in January t
April 18, 2013
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LG CEOs visit suppliers to seek ways for shared growth
Some 30 chief executives of LG Group visited two suppliers of LG Electronics on Thursday to seek ways to strengthen the group’s competitiveness through shared growth with smaller firms. They included LG Group chairman Koo Bon-moo, LG Electronics vice chairman Koo Bon-joon, LG Chem vice chairman Kim Bahn-suk, LG Uplus CEO Lee Sang-chul and LG Display CEO Han Sang-beom, officials said. Their first destination was Mirae Korea, a TV frame maker located in Cheonan, 92 kilometers south of Seoul. Throu
April 18, 2013
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LH hires senior employees
The Korea Land & Housing Corp. recently launched a “silver employee” project to boost senior employment and to fulfill its social role as public organization.The ceremony, held Tuesday at LH headquarters in Bundang, Gyeonggi Province, was attended by Vice Land Minister Park Kee-poong, LH president Lee Ji-song and some 500 senior employees, officials said.The silver employment project is a representative legacy of the housing corporation that was first initiated back in 2010 under the lead of its
April 18, 2013
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Ad giant eyeing Korean advertising, digital marketing
For global advertising companies, IT powerhouse Korea is the perfect market to learn about and develop digital and mobile marketing businesses.Ninety-six-year-old Grey Group, the major clients of which include Procter & Gamble, GlaxoSmithKline, British American Tobacco and Pfizer, is one of those companies that sees Korea as its hub for mobile business. It plans to acquire a local advertising or digital marketing firm within this year.“We are looking for a company that provides full digital serv
April 18, 2013
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Thai princess to visit Green Cross
Thai princess Maha Chakri Sirindhorn plans to visit the Ochang factory of Korea’s leading pharmaceutical firm Green Cross in Cheongwon County, North Chungcheong Province, on Friday, company officials said.The company said the tour of Asia’s largest manufacturing facility of blood derivatives ― pharmaceutical products processed from human blood ― is scheduled for the last day of the princess’ four-day trip to Korea.Green Cross chairman Huh Il-sup, chief executive Rhee Byung-geon and Thai ambassad
April 18, 2013
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‘Mini’ FEZs planned to draw foreign SMEs
The government said Wednesday it would establish small free economic zones in provincial cities this year in an effort to attract more foreign direct investment, in particular from small and mid-sized firms.Ministry of Trade, Industry and Energy officials said in a press briefing that the so-called “mini” FEZs could be created for foreign-invested land exceeding 80,000 square meters, one-fourth the land required for an existing FEZ.Previously, an area was designated as an FEZ when the foreign-in
April 17, 2013