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
Korea added to key bond index
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
7
North Korea notifies UN Command of plans to fortify border with South
-
8
Taking away phones during school hours not a human rights violation: watchdog
-
9
Who is pollster roiling politics with claims of government string-pulling?
-
10
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
Local fashion retailers throw down gauntlet
Japan’s Uniqlo, Spain’s Zara and Sweden’s H&M have for years enjoyed huge sales to the point of dealing a blow to most other casual brands here.Sales of such global fast fashion brands have grown 56 percent annually on average over the past three years in Korea. By designing and manufacturing quickly and cheaply based on the latest trends presented at Fashion Week, these specialty store retailers of private-label apparel have led a major transition in the clothing retail industry.They have impro
Jan. 31, 2013
-
Toyota says to recall 900,000 cars
Japanese auto giant Toyota said Wednesday it would recall more than 900,000 vehicles in Canada, Japan, Mexico and the United States because of an airbag problem.Toyota will replace parts used in some 907,000 hatchbacks, named Voltz in Japan and Corolla and Corolla Matrix overseas, and produced between 2001 and 2004, a company spokesman said.(AFP)
Jan. 30, 2013
-
LGE posts solid quarterly profit
LG Electronics said Wednesday that it posted 13.49 trillion won ($12.42 billion) in sales and 107.2 billion won in operating profit for the final quarter of last year, boosted by rising sales of smartphones and TVs.The electronics maker also said that the quarterly operating profit and sales increased 25 percent and 9 percent, respectively, compared to the same period last year.In total, the company recorded 50.96 trillion won in annual sales and 1.13 trillion won in annual operating profit for
Jan. 30, 2013
-
Doosan seeks to buy Italian energy firm
Doosan Heavy Industries and Construction, in a move to advance in the lucrative power plant business, shaped up its plan to take over an overseas company possessing original technology in nuclear power generation.The engineering, procuring and construction company recently made its preliminary bid on Ansaldo Energia, an energy generating subsidiary of Finmeccanica, Italy’s state-run defense company.Ansaldo, especially its nuclear power production arm Ansaldo Nucleare, possesses refined technolog
Jan. 30, 2013
-
Foreign CEOs invited for forum on Park’s policy
The foreign business community in Korea is expected to be offered a rare opportunity to directly converse with the incoming Park Geun-hye government. On March 20, The Korea Herald and The Herald Business will jointly host a dialogue between global companies here and the five top government officials of the Park government in the fields of economy, welfare, labor, finance and defense. The event will be held for over 500 businesspeople in the foreign corporate community here, at Millennium Hilton
Jan. 30, 2013
-
Taiwan’s E Ink accused of asset-stripping Hydis
E Ink, the parent company of Hydis, appeared to have no concrete plans on how to run Hydis, a local manufacturer of LCDs.Despite the uproar at the Gyeonggi-based company this month after its plants were forced to shut down by E Ink until Feb. 15, the Taiwan-based maker of electronic ink remained silent.Neither the employees at Hydis nor E Ink offered any clue, with E Ink stating only that it was “operating legally,” and therefore, there were no problems. “We acquired Hydis, so it’s OK,” said on
Jan. 30, 2013
-
LG Electronics logs 107 bil operating profit in Q4
South Korean consumer electronics giant LG Electronics Inc. saw its net loss widen in the fourth quarter from a year earlier due to increased marketing costs and a one-off TV cartel fine. Net loss came to 467.8 billion won ($431 million) in the October-December period, growing more than three-fold from the loss of 111.6 billion won the previous year, LG Electronics said in a regulatory filing.Revenue slipped 2.3 percent on-year to 13.5 trillion won over the cited period, while operating profit j
Jan. 30, 2013
-
SK Hynix posts profit as chip demand improves
South Korean chipmaker SK Hynix Inc. reported a second straight quarterly profit as its debt load eased and sales benefited from increased demand for chips used in smartphones and servers. The company said Wednesday its October-December net profit totaled 163.7 billion won ($151 million) compared with a 239.9 billion won loss a year earlier. SK Hynix returned to the black in the July-September quarter with a 2 billion won profit following a period of losses due to a slump in chip prices and weak
Jan. 30, 2013
-
U.S. court says Samsung infringement wasn’t ‘intentional’
The U.S. court looks to be changing its stance on the Samsung-Apple global patent litigation with Apple with the court acknowledging that Samsung patent infringements were not intentional on Wednesday.U.S. District Judge Lucy Koh denied Apple’s argument that the $1.05 billion damages award against Samsung from its previous patent infringement trial should be increased.She found that Samsung’s infringement was not “willful,” denying a new trial and leaving the August jury findings largely untouch
Jan. 30, 2013
-
Samsung takes over U.S. medical equipment firm
South Korean tech giant Samsung Electronics Co. said Tuesday it has acquired a U.S. medical equipment firm as part of efforts to bolster its healthcare business.Samsung Electronics America acquired NeuroLogica, a leading computed tomography company headquartered in Danvers, Massachusetts, the company said in a press release. Financial terms of the deal were not disclosed.Samsung’s U.S. unit will control the U.S. medical equipment maker, which develops medical imaging products and portable CT sca
Jan. 29, 2013
-
POSCO steel posts $2.6b in 2012 operating profit
Sales and operating profits of POSCO, the world’s fifth-largest steelmaker by output, fell in 2012 from the previous year, but outperformed rivals in profit margin on sales, the company said Tuesday.Sales of POSCO Group’s steel business in 2012 dropped 9 percent to 35.7 trillion won ($33 billion) on-year. Operating profit from the steel business plunged 35.6 percent to 2.8 trillion won ($2.6 billion) in the same period. The sharp fall in operating profit resulted from the impact of the global st
Jan. 29, 2013
-
Citroen DS5, ‘Car of president’ arrives
PSA Peugeot Citroen launched the Citroen DS5 in Seoul on Tuesday, renewing its commitment to the Korean market and its official importer Hanbul Motors that has been struggling from sluggish car sales amid the strong presence of German carmakers. The DS5 crossover sedan, launched in late 2011, is the high-end model for Citroen’s DS line that used to only consist of the DS3 and DS4 compacts. The car became known after it was offered to French President Francois Hollande for his inauguration ceremo
Jan. 29, 2013
-
Caffebene out as Lotte eyes drugs business
The drug and cosmetics store landscape is expected to undergo major changes as some players are pulling out of the show and others eye the market.Caffebene, which has made a name for itself as a homegrown caf chain, appears to be ready to call it quits in the drug and cosmetics industry, only five months since its entry with a store called December 24. The first December 24 shop opened in Gangnam Station has already been shuttered, while its second shop, located at Sadang Station, is also to clo
Jan. 29, 2013
-
Peugeot-Citroen importer pounds German rivals
The president of Hanbul Motors, the Korean importer of Peugeot and Citroen brands, on Tuesday harshly criticized the heated dealer competition among import carmakers, especially the top sellers BMW and Mercedes-Benz.“Strong sales would satisfy their foreign headquarters. But their excessive sales activities are led to consumer damages,” Hanbul Motors president Song Seung-cheol said when asked about the French carmaker’s sluggish sales in Korea during the launching event of the Citroen DS5. “Almo
Jan. 29, 2013
-
Samsung’s Lee owns homes worth W26b
Samsung Electronics chairman Lee Kun-hee owns the most expensive houses among the nation’s top 50 business leaders, data showed Monday. Lee owns three homes in Seoul’s Itaewon, Samseong and Seocho areas, whose combined value stood at 26.31 billion won ($24.32 million) last year, according to Chaebul.com, a conglomerate-tracking website. Lee is followed by Shin Choon-ho, chairman of food giant Nongshim Group, who has two houses together worth 8.57 billion won. The two top owners, Lee and Shin, we
Jan. 28, 2013
-
[Power Korea] LG Chem targets top global position
LG Chem is expanding in petrochemicals and electric car battery technology.Since merging with LG Daesan Petrochemicals and LG Petrochemicals in 2006 and 2007, respectively, it has vertically integrated its production system at the company.Dividing its business project scope into two different areas ― petrochemicals, and information and electronics materials that include batteries ― the firm has seen increases in sales and total market value since 2009.Total sales jumped 49 percent from 15.52 tri
Jan. 28, 2013
-
[Power Korea] LG grows into full-fledged global brand
Many still remember the black-and-white Gold Star televisions manufactured in the 1960s.It was a symbol of wealth, since a large portion of middle- and lower-class families did not have the funds to buy such a costly television at the time. Instead they stuck to their old-fashioned radios ― which were also first introduced in the country by Gold Star, now LG, in 1959.LG Group was founded as Lucky Chemical Industrial Corp., now LG Chem, in Busan, South Gyeongsang Province, in 1947.Earning profits
Jan. 28, 2013
-
Incheon Airport CEO offers to resign
Incheon International Airport Corp. said Monday that its CEO Lee Chae-wook has offered to resign before his official term expires in September. “He may have decided to offer an opportunity for his successor to oversee the planned expansion project of the airport from the beginning,” said an airport official. Lee, the former Asian chief of General Electric, took office to lead the nation’s main gateway in September 2008. He has been reappointed twice on his strong performance. Incheon Airport pla
Jan. 28, 2013
-
POSCO opens English corporate blog
POSCO, the nation’s top steel giant, launched an English-language corporate blog (globalblog.posco.com) Monday to strengthen two-way communication with global stakeholders, the company said. POSCO developed the English version of Hello POSCO, the first corporate blog run in Korean from September last year, in a bid to update corporate news and activities globally and to open communication with visitors from around the globe. The steel giant also established a corporate page on Linkedin.com, a U.
Jan. 28, 2013
-
Hana Financial to buy additional shares in KEB
Hana Financial Group Inc. said Monday it plans to buy an additional 40 percent stake in the Korea Exchange Bank in April by swapping shares, taking firmer control of South Korea’s No. 5 lender.Hana Financial completed the deal to buy a 51.02 percent stake in KEB from Lone Star Funds for 4.69 trillion won ($4.34 billion) in February 2012, making it Korea’s No. 3 banking group. It also bought further stakes to raise its holdings to 60 percent last year.The group said it plans to buy the remainder
Jan. 28, 2013