Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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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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Korea added to key bond index
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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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Park nominates new chief of Fair Trade Commission
President Park Geun-hye nominated a former state arms procurement agency chief to be the new head of South Korea's antitrust watchdog, the presidential office said Saturday.The nomination of Noh Dae-lae as Fair Trade Commission chief came days after Park's earlier choice for the job resigned amid allegations that he has been holding secret overseas bank accounts to evade taxes.Noh, 57, is an economic technocrat who had worked in various posts at the finance ministry since 1979 before serving as
March 30, 2013
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Sale of STX’s shipping unit ruptures
The sale of STX Pan Ocean Co. fell through on Friday as no potential bidders expressed their interest in South Korea’s leading bulk carrier, raising the possibility that the shipping line may be taken over by a state-run policy lender.According to industry sources, no potential bidders have submitted letters of intent for STX Pan Ocean as of Friday.South Korean shipbuilding and shipping conglomerate STX has been seeking to sell its key affiliate STX Pan Ocean as part of efforts to improve its fi
March 29, 2013
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ITC’s initial ruling in favor of Apple
The International Trade Commission in Washington recently ruled in its initial determination that Samsung Electronics infringed four of its rival Apple Inc.’s patents, sources said Friday.Although the document filed earlier this week was labeled confidential, it is widely believed that Thomas Pender, administrative law judge at the ITC, was most likely to have ruled that Samsung had violated four Apple patents, including one for the design of the iPhone.The same administrative judge had said on
March 29, 2013
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[Graphic News] India main source of DDoS attacks in Korea
A recent study found that connections used in cyber attacks more frequently came from Internet Protocol addresses based in India, according to the Korea Internet and Security Agency.The agency on Thursday said that India had the highest number of IP addresses that were used for distributed denial of service (DDoS) attacks against Korean websites in the second half of last year.With India accounting for more than 12.9 percent of the foreign IP addresses participating in the cyber attack, Brazil,
March 28, 2013
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World forum to discuss future of energy
Energy is emerging as an increasingly hot topic worldwide as the global energy landscape is fast changing on both the supply and demand sides, particularly since Japan’s Fukushima nuclear disaster in 2011. Many countries are bringing changes to their energy mixes to minimize the impact of those changes on their environment, economy and society. “All sources of energy ranging from oil and gas to renewables to nuclear power are facing a transition for their own reasons. Given this, it is the right
March 28, 2013
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Samsung C&T wins 6.5tr won deal from Roy Hill
Samsung C&T Corp., a major South Korean trading company, said Thursday that it has clinched a 6.5 trillion won ($5.8 billion) development deal from Australia’s Roy Hill.Under the deal with Roy Hill Holdings Pty Ltd., Samsung C&T will build an infrastructure for the development of an iron ore in western Australia.Samsung C&T will build a plant that will be able to process 55 million tons of iron ore annually, a 340-kilometer long railroad and two berths for the Roy Hill iron ore development proje
March 28, 2013
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Korea, China, Japan agree on basic rules for FTA talks
Having confirmed their common demand for an economic, social and political unity, Korea, China and Japan agreed to add momentum to their tripartite free trade agreement talks.The trade representatives of the three Northeast Asian states met in Seoul for the first time to discuss concluding a trilateral free trade pact and held negotiations for three days until Thursday.“Through this first official round, we set up a set of terms of reference, including the basic principles of the upcoming negoti
March 28, 2013
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Ford Korea sets sights on 30% growth
Ford Korea expects its sales this year to grow by at least 30 percent on-year through a combination of fuel-friendly cars and aggressive investment. “We are confident about achieving this goal,” said Jung Jae-hee, president of Ford Sales and Service Korea as well as chairman of the Korean Automobiles Importers and Distributors Association, in an interview with The Korea Herald. The 30 percent target is about double the 15 percent growth rate expected by experts and industry watchers for the impo
March 28, 2013
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Explore the world with QM3
All cars have a niche audience they cater to, and in the case of the QM3, the quirky yet stylish new “compact” SUV from Renault Samsung, the target consumer will be a bit more adventurous than most. “We hope with the QM3, we create, and not only follow trends. We don’t want to be on the defensive ―we want to be on the offensive,” said Laurens Van Den Acker, Renault’s head of design, who was in Seoul for the Seoul Motor Show on Thursday. A bright orange QM3 sat glistening on the showroom floor at
March 28, 2013
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Legendary car designer at Seoul Motor Show
Legendary car designer Ian Callum of Jaguar, who was visiting Korea for the first time to attend the Seoul Motor Show, picked Kia’s Sportage as his favorite design among Korean cars. “The Sportage has really great design. I think it’s exaggerated but it’s good when it comes to car design. It gives a character to a car,” he said in an interview with The Korea Herald. The design director for Jaguar and man behind the British carmaker’s renaissance over the past decade joined the Seoul event to per
March 28, 2013
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KAI signs $400m supply deal with Airbus
State-run Korea Aerospace Industries said Wednesday it won a 460 billion won ($400 million) deal to provide aircraft parts for Airbus’ A321 by 2025.“With a recent surge in A321 sales, demand for related parts is also soaring. We have succeeded in winning the deal due to our superior prowess and quality control,” said a KAI official. The KAI is the nation’s sole aircraft maker that has joined hands with global companies such as Airbus and Boeing. It aims to secure orders worth 6.2 trillion won th
March 27, 2013
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BASF to move regional HQs to Seoul
BASF, the world’s largest chemical company, said it would move its Asia-Pacific headquarters for electronic materials business to Seoul in the first half of this year.The rest of BASF’s regional headquarters will stay in Hong Kong.The regional headquarters in Seoul will coordinate marketing and product management, sales management and operational management in the Asia-Pacific including China. BASF has been a leading supplier of electronic materials for more than 30 years, offering high-purity,
March 27, 2013
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Hanwha to turn cafes into social enterprise
Hanwha Group said it will turn its coffee business Beans & Berries into a social enterprise starting next year, meaning its entire profit will be spent on the socially vulnerable.Beans & Berries, a brand developed by Hanwha Galleria in 2006, will be separated from the conglomerate in the second half of this year and seek government accreditation as a social enterprise next year, Hanwha Group said in a press release.Hanwha Galleria directly runs 36 Beans & Berries stores mostly in Galleria depart
March 27, 2013
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GS Caltex to mass-produce alternative fuel this year
GS Caltex is aiming to commercialize biobutanol as a renewable fuel for cars that could be used as a substitute for gasoline later this year, market insiders in the oil refinery industry said Wednesday.The company has reportedly set the launch for the fourth quarter of 2013. It is operating a factory which has the capacity to produce biobutanol from sugar or wood under a joint research project with the Korea Advanced Institute of Science and Technology.The launch of the factory’s commercial oper
March 27, 2013
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LG Group goes extra mile for R&D
Helicopters are a rare luxury, even for the wealthiest business tycoons, but there is a company that regularly deploys choppers for its employees: LG.At LG Electronics, the flagship arm of LG Group, helicopters shuttle the research staff to and from headquarters and out-of-Seoul manufacturing sites. From Seoul to LG’s Gumi plant, the chopper cuts the travel time down to 45 minutes, compared to the three to four hours for a ride on the train. LG is tightlipped on the expenses, but it must no doub
March 27, 2013
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POSCO selects TJ Park Prize winners
Steelmaker POSCO’s TJ Park Foundation named three winners for its annual TJ Park prize Wednesday.The science prize was given to Kim Eun-joon, a life sciences professor at Korea Advanced Institute of Science and Technology, the education prize went to Yoon Byeong-hoon, first principal of Yangeob High School, and the community service prize went to Seo Yeong-nam, the head of a local restaurant.Each of them were awarded a medal and prize money of 200 million won ($180,000), officials said.The found
March 27, 2013
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Retailers launch consultative body
Representatives of large discount store chains, supermarket chains, grocery stores, conventional markets, department stores, convenience stores and franchises on Wednesday launched a consultative body to discuss ways to cooperate to improve the retail industry.The new nongovernmental group is an expanded and revamped version of an existing council of retailers joined by franchises and convenience stores.About 20 chief executives of retailers, heads of retail trade associations, along with Rep. K
March 27, 2013
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Hyundai Heavy wins $2b offshore order from France
Hyundai Heavy Industries, the nation’s top shipbuilder, won a $2 billion deal to build two offshore facilities for France-based oil company Total, the company said in a press release. In the deal with Total’s overseas branch in the Republic of Congo, Hyundai Heavy will build a floating production unit for $1.3 billion and an offshore platform for $700 million.The two offshore facilities will be installed in the Moho Nord oil field, about 80 kilometers from Pointe-Noire on the country’s southern
March 26, 2013
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Kia picks New York over Seoul to unveil new cars
Kia Motors will take the wraps off three world introductions this week, but not at the Seoul Motor Show, the largest automotive event on its home turf that starts Thursday. The carmaker, an affiliate of Hyundai Motor, instead decided to make the debuts of the second-generation Soul, the redesigned New Optima (the K5 in Korea) and the two-door Forte (the K3 coupe) at the New York International Auto Show on Friday. During the Seoul event, Kia plans to unveil only one new car, the KND-7, a concept
March 26, 2013
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Samsung-LG legal war gets uglier
The legal fight between local electronics firms Samsung and LG Electronics is getting uglier by the minute with the firms recently suing each other over fridge marketing tactics.Samsung filed a lawsuit with Seoul Southern District Court against its rival LG last Friday, demanding 50 billion won ($45 million) in compensation for damaging its brand value.The move came about two months after LG filed a 10-billion-won compensation suit against Samsung in January, for which the first hearing is sched
March 26, 2013