Most Popular
-
1
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
2
S. Korea, Singapore seal supply chain agreement
-
3
Korean language teaching expert says demand has outstripped supply
-
4
Conscripting women to lead to 'more babies,' claims military think tank
-
5
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
6
Korea added to key bond index
-
7
Who is pollster roiling politics with claims of government string-pulling?
-
8
Taking away phones during school hours not a human rights violation: watchdog
-
9
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
10
Korea launches antidumping probe into Chinese steel
-
[Power Korea] AmorePacific: Where beauty comes to life
The Korea Herald is publishing a series of articles titled Global Brand as part of the first installment of Power Korea. Korea’s success story is a 60-year-old tale written by not one, but many who worked to build one of the world’s most powerful nations from the ashes of war. This Global Brand series is designed to honor those who made this Korean Dream come true. This is the 11th part of the Global Brand series. ― Ed.Nearly five decades ago, AmorePacific became the first homegrown cosmetics br
March 18, 2013
-
Personal bankruptcy case in Pulmuone family raises questions
Pulmuone Holdings president and major shareholder Nam Seung-woo is expected to get some 2.2 billion won ($2 million) in cash dividends this year.Including this year, Nam, who has over 130 billion won in assets including stocks, will have received more than 26.1 billion won in cash dividends over the past 18 years.And yet, his daughter filed for personal bankruptcy last year, drawing attention to what is happening within the chaebol household.Pulmuone Holdings is scheduled to vote on paying out a
March 18, 2013
-
Galaxy S4 promotion sparks marketing war with Apple
Samsung Electronics and Apple Inc. have been engaging in a fierce marketing battle since the introduction of the Korean firm’s latest flagship Galaxy S4 in New York last week.Following a big-budget launch event Wednesday at Radio City Music Hall in the heart of New York, the world’s biggest handset maker posted a video on YouTube stressing the uniqueness of the new smartphone.As Samsung took the fight to Apple’s home turf, the Cupertino-based company did several media interviews just a day ahead
March 18, 2013
-
Hyundai Motor replaces labor relations chief
Hyundai Motor said Monday that it has promoted its Ulsan plant head Yoon Gab-han to a president position who will oversee management and labor relations at the nation’s largest carmaker. His predecessor and vice chairman Kim Eok-jo was named as an adviser for the company, retiring from the managerial frontline after 37 years at the company since 1976. Kim, who took office as labor relations chief in January last year, had been pressured by growing tensions with the company’s union on issues such
March 18, 2013
-
POSCO to spearhead M&As
The nation’s top steelmaker POSCO has reorganized its merger and acquisition department in an apparent move to further push ahead with its aggressive M&A vision.POSCO recently integrated its strategic business department into the corporate strategy department 1, officials confirmed Monday.The former, initiated back in 2009 by chairman Chung Joon-yang, has been spearheading the company’s aggressive M&A projects over the years.The corporate strategy department 1 is one of POSCO’s key divisions, su
March 18, 2013
-
Uncertainties linger over Germany’s renewable energy transition
BERLIN ― The Fukushima nuclear disaster has affected the world’s nuclear energy policy for the past two years. Countries such as Germany have since undergone drastic changes in their nuclear energy policy in response to rising concerns over the safety of nuclear power plants. In May 2011, two months after the Fukushima nuclear accident, the German government immediately decided to shut down eight aged nuclear power plants. In July, Europe’s biggest economy announced that it would close its nine
March 18, 2013
-
Sales of Hyundai cars in U.S. up 2 pct in Feb.
South Korea's top automaker Hyundai Motor Co. sold 52,000 vehicles in the United States in February, up 2 percent from a year ago, industry data showed Monday. The data showed that Hyundai's market share in the U.S. remained unchanged at 4.4 percent.Hyundai's smaller sister company, Kia Motors Corp., sold 41,500 units in the U.S., down 8 percent from a year ago. Its market share stood at 3.5 percent last month, down 0.44 percentage points from a year earlier.Hyundai and Kia ranked seventh in ter
March 18, 2013
-
[Photo News] Ballantine’s limited edition
March 17, 2013
-
Rules may hurt local restaurants’ growth
Overseas business has been a dream for many Korean restaurant companies.They look up to global giants like McDonald’s or Yum! Brands, Inc., operator of Taco Bell, KFC and Pizza Hut, that rake in billions of dollars worldwide.Among Korean firms, CJ Foodville is a frontrunner with about 130 stores abroad including Bibigo and VIPS restaurants, Tous Les Jours bakeries and A Twosome Place cafes, mostly in China and Southeast Asia.But even CJ is just in the investment stage, and is still far from thri
March 17, 2013
-
Hyundai holds 4th place in Brazil‘s subcompact car market
Hyundai holds 4th place in Brazil‘s subcompact car market SAO PAULO, March 17 -- Hyundai Motor Co., South Korea‘s largest automaker, has maintained fourth place in subcompact passenger car sales in Brazil during the first two and half months of this year, the company said Sunday. Hyundai Motor, the world’s fifth largest automaker, has sold 6,124 units of the HB20 in the first half of March, a Hyundai spokesman said. The South Korean carmaker sold 10,179 units of the HB20 in Brazil in February
March 17, 2013
-
Octa-core Galaxy S4 set for Korea in April
Samsung Electronics is expected to roll out its new Galaxy S4 phones equipped with octa-core mobile processors in Korea as early as next month.The latest flagship 5-inch display smartphone the IT behemoth unveiled in New York on Thursday, local time, will feature the upgraded processor running on the fourth-generation Long Term Evolution network due to the specific local demand, according to industry sources here.The company also announced Friday that it will start mass producing its octa-core E
March 15, 2013
-
KORAIL to take total control over Yongsan situation
KORAIL resolved to resuscitate the moribund Yongsan redevelopment project within the month by injecting 260 billion won ($234 million) and scaling back the construction.With the amended blueprint, which hopefully will take effect on April 1, KORAIL is to temporarily operate a special countermeasure task force, jointly with the Seoul Housing Corporation and private investor representatives.The state-run rail operator that is the majority shareholder on Friday summoned all 30 private investor firm
March 15, 2013
-
Korean Air reaps big from Galaxy S4
The introduction of Samsung Electronics Co.’s Galaxy S4 smartphone has one clear winner ― Korean Air Lines Co.Samsung Electronics may ship about 44 million of the smartphones in the second and third quarters, according to Young Park, an analyst at Woori Investment & Securities Co. in Seoul. A Boeing Co. 747-8 freighter plane carrying nothing else can hold about 1 million phones.Moving high-value goods such as a smartphone by air quickly to various markets is important for Samsung to capture mark
March 15, 2013
-
Samsung goes with ‘three-top’ system
Samsung Electronics seated three different chief executives as part of its efforts to improve operational efficiency and grant more responsibility to each unit the CEOs will lead on Friday, following a board meeting. The world’s top handset, television and chipmaker said that it will establish a three-way leadership system as the company separated its businesses into three different units early this year. Kwon Oh-hyun, vice chairman and the CEO of Samsung’s flagship arm, will take charge of the
March 15, 2013
-
[Newsmaker] IT expert named to Park’s key ministry
President Park Geun-hye chose a top communications technology expert as the new science minister nominee to fill the seat left by a controversial self-claimed patriot.Professor Choi Mun-kee of top science university KAIST was named on Thursday to head the ministry of Future Planning and Science, which will be newly established under Park’s government reorganization plan.By naming Choi, Park completed the nomination of 17 ministers. Presidential spokesman Yoon Chang-jung said Choi’s expertise was
March 14, 2013
-
Profiles of new government appointees
Han Man-soo, Fair Trade CommissionHan, 55, the newly appointed head of the Fair Trade Commission, is a former lawyer who worked for more than two decades at a top law firm, Kim & Chang, here in Korea. Han is said to have gained extensive experience in tax and finance law while at Kim & Chang. Han also previously had some experience in government when he served as an adviser for the Finance Ministry between 1998-1999, and at a number of other tax service-related posts within the ministry. Since 2
March 14, 2013
-
Telecoms slapped with more fines for smartphone subsidies
The Korea Communications Commission imposed additional fines amounting up to 5.3 billion won ($4.77 million) on the country’s three telecoms for providing excessive and illegal smartphone subsidies despite its previous punishments.The state telecom regulator said that it will have SK Telecom pay up another 3.14 billion won and also granted fees of 1.61 billion won and 560 million won to KT and LG Uplus, respectively.“It’s a real shame that the market spiced up immediately after we impose strict
March 14, 2013
-
KORAIL seeks to downsize Yongsan project after default
After defaulting on its business loan interest payment, Dream Hub is struggling to resucitate the moribund Yongsan development project by mobilizing all possible means. Dream Hub, the project financing vehicle, plunged into loan default on Wednesday as it failed to pay back 5.2 billion won ($4.7 million) in interest on its asset-backed commercial paper.KORAIL, the state-run rail operator and greatest shareholder in Dream Hub, is gesturing to nevertheless carry forward the project by taking on ad
March 14, 2013
-
KLM takes steps in sustainable flights
KLM Royal Dutch Airlines started weekly flights using sustainable biofuel last Friday, company officials said. The series of biofuel flights will be made every Thursday from John F. Kennedy Airport in the United States to Schiphol in the Netherlands. The sustainable fuel will be obtained from used cooking oil, according to the company. As cooperation and joint effort between related industries are crucial for the future of sustainable biofuel in the aviation industry, this initiative means a lot
March 14, 2013
-
Hyundai-Kia to hire 10,000 workers through suppliers
Hyundai Motor Group, which owns the Hyundai and Kia brands, said Thursday that it would hire an additional 10,000 workers indirectly through its suppliers and their subcontractors this year. As part of the efforts, the Korean auto giant kicked off a two-day job fair on Thursday in Seoul for its 430 smaller partner companies. About 20,000 job-seekers are expected to visit the exhibition floors of COEX in southern Seoul. The second annual event also will be held in Gwangju and Daegu in the coming
March 14, 2013