Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korea added to key bond index
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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North Korea notifies UN Command of plans to fortify border with South
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Taking away phones during school hours not a human rights violation: watchdog
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Who is pollster roiling politics with claims of government string-pulling?
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Will Apple quit smart ring race with Samsung?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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More deaths in ICU following doctors' mass walkout: lawmaker
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Samsung, Apple face off in U.S. court
Samsung Electronics Co. and Apple Inc. sparred in a key U.S. court hearing on Thursday in which Samsung sought to overturn a jury verdict while the iPhone maker ramped up calls for sales bans of several Samsung products.Samsung suffered a crushing defeat in late August, when a U.S. jury ordered US$1.05 billion in damages after finding some Samsung smartphones and tablets infringed on Apple patents.Earlier in the day, U.S. federal judge Lucy Koh resumed a court session between the world's two top
Dec. 7, 2012
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Singapore, Qantas to revise refund policy
The nation’s antitrust watchdog ordered Singapore Airlines and Australia’s Qantas Airways on Wednesday to fix their unfair refund policy on discounted flight tickets. Unlike other air carriers that offer some refunds for cancellation, the two companies were found to have not paid back any of the ticket prices except oil surcharges and taxes. The Fair Trade Commission said, even considering price benefits of the discounted tickets, the two companies put excessive pressure on consumers. Following
Dec. 6, 2012
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Renault Samsung mulls sale of factory land
Renault Samsung Motors is considering selling some of the land at its second manufacturing plant site in Busan, company officials said Thursday.The land sale plan allegedly comes as part of the carmaker’s efforts to overcome a lackluster sales performance.Though Renault Samsung had pushed ahead with building the second plant, it has yet to launch the construction process amid the situation that its sales in the local market dropped more than 30 percent on a year-on-year basis.A company executive
Dec. 6, 2012
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Antitrust fines hit record in 2012
The Fair Trade Commission has levied fines on enterprises totaling 913.8 billion won ($846.1 million) so far this year, an all-time high on a yearly basis.The collective figure for this year far surpasses the antitrust regulator’s fines of 347.3 billion won on rule-violators in 2011 and 507.4 billion won in 2010.During the first and second year of the Lee Myung-bak administration, the figure was 131.1 billion won and 110.8 billion won, respectively, under the president’s business-friendly polici
Dec. 6, 2012
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Conglomerates promote PR officers
“Public relations” seems to be the keyword for this year’s personnel reshuffles at major companies, with employees in the field being given promotions all around as the country faces a slow economy and an imminent presidential election. “When the times are bad, PR is one of the most cost-effective activities that a company can undertake, as it has the biggest advertisement effect,” said Lee Baek-soo, chairman of the Korea Public Relations Consultancy Association. Companies also are busy preparin
Dec. 6, 2012
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Korean retailers set sights on SE Asia
Shifting their focus away from China, leading South Korean retailers are speeding up their expansion into Southeast Asian nations as part of efforts to find new growth engines, industry sources said Thursday. South Korea’s second-largest retailer Shinsegae Group, which opened its discount store in Shanghai in 1997 for the first time as a local retailer, has reduced the number of stores in China to 16 from 27 over the last two years due to their cumulative losses, according to the sources. E-Mart
Dec. 6, 2012
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Korean Air show interest in Czech national carrier
Korean Air Lines and Qatar Airways showed interest in Ceske Aerolinie AS, the Czech national carrier, Czech Finance Minister Miroslav Kalousek said.The two airlines responded “positively” to letters sent out to the world’s largest carriers as part of CSA’s search for a strategic partner, Kalousek said Wednesday in Prague. The government expects to receive binding bids for the CSA stake, including the price, by the end of February and the government should choose a buyer in early April, Kalousek
Dec. 6, 2012
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K-water aims for global top three in water management
Global economy magazine Fortune predicted the 21st century would be the era of water industry, calling water “Blue Gold.”Countries are engaged in fierce competition in so-called “Waternomics” to secure stable water supplies and facilitate the growth of their domestic industries. The Korean government is also paying renewed attention to the water industry as its new growth engine for the national economy. And the Korea Water Resources Corp., or K-water, has played the leading role. K-water early
Dec. 6, 2012
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Korea boasts water-control leadership
The Korea Water Resources Corp., more affectionately known as “K-water,” started projects in overseas markets in 1994. Kim Kuen-ho, president of the state-run water management agency, believes now is the time to reap the rewards. “We have made sincere efforts to accumulate enhanced water management know-how and build partnerships with other countries for almost 20 years,” he told The Korea Herald in a recent interview.“Winning a deal is not the final goal of our overseas activities. We hope our
Dec. 6, 2012
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Four-river project offers water management model
The four-year Four River Restoration Project to build the nation’s water management infrastructure by restoring four major rivers nationwide, is a stepping stone for Korea to take the lead in the global water management industry. The 20 trillion won ($18 billion) project, launched in 2009, completed about 99 percent of the construction as of Nov. 5 in 2012. It is somewhat early to evaluate the project, but there were improvements throughout the year in water-related problems in Korea, including
Dec. 6, 2012
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Korean Air wins Airbus A380 operation award
Korean Air was awarded the A380 Award for Top Operational Excellence, presented by European aircraft manufacturer Airbus S.A.S. in the A380 Technology Symposium held in Dubai on Wednesday. The Korean flag carrier said that it was conferred the prize in recognition of its 99.5 percent on-time arrival rate and outstanding operation skills of A380 aircraft.Upon receiving the award, Korean Air has become the world’s only airline to receive three operational awards from Airbus. To present, the airlin
Dec. 6, 2012
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Samsung SDI, LG Electronics fined by EU for TV tube cartel
South Korea's LG Electronics and Samsung SDI are among the companies fined a record total of 1.47 billion euros ($1.9 billion) by the European Union antitrust regulator over price-rigging of television cathode ray tubes, authorities said Wednesday. The European Commission fined LG Electronics 295.6 million euros and Samsung SDI 150.8 million euros, for fixing prices of now-obsolete cathode ray tubes with five other international firms over roughly a decade. The watchdog imposed the biggest penal
Dec. 6, 2012
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Samsung promotes heir-apparent to vice chairman
Samsung Group said it promoted Samsung Electronics chief operating officer Lee Jay-yong to vice chairman of the group’s flagship in its yearly personnel reshuffle of group CEOs on Wednesday.The promotion of Lee, the only son of Samsung Electronics chairman Lee Kun-hee, has widely been predicted in the market amid the ongoing power transition process in the nation’s largest conglomerate. In a statement, the group said the 44-year-old nominee “has made great contributions to the sectors of smartph
Dec. 5, 2012
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[Newsmaker] Samsung heir one step closer to succession
Samsung’s heir-apparent Lee Jay-yong has taken the next crucial step toward inheriting the Samsung empire. His promotion to vice chairman of Samsung Electronics was widely expected, as the younger Lee has quickly gone through a number of high-ranking posts in recent years, including the position of president. Explaining the move, a Samsung press release said the junior Lee was “recognized for his leadership in building Samsung into one of the world’s most loved brands and creating shareholder va
Dec. 5, 2012
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S-Oil’s ‘Hero Support Program’ cheers firefighters
S-Oil, one of top three oil refineries in Korea, has strengthened socially responsible activities for its sustainable future. S-Oil takes a strategic approach to CSR activities. It developed the integrated CSR program, dubbed the “sunshine sharing campaign,” by adopting sharing as one of its core corporate values. Under the campaign, the company runs three support programs for heroes, the environment and local community. One major target of the “hero support program” is firefighters who are wil
Dec. 5, 2012
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Import cars log record monthly sales in Nov.
Import car sales in Korea reached an all-time high in November. The Korea Automobile Import and Distributors Association reported on Wednesday that new registrations rose to 12,470 in November, a 35.1 percent increase from a year ago. The accumulated number of vehicles sold was 120,195 in the first 11 months this year, up 23.7 percent from last year’s 97,158 units, the lobby group for foreign carmakers here said. BMW continued strong sales with 2,703 new registrations, followed by Volkswagen wit
Dec. 5, 2012
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New KTX-Sancheon trains mark 100 accident-free days
Korail, the state-run railroad operator, said Wednesday that its five KTX-Sancheon bullet trains have been in operation without accident for 100 consecutive days as of Dec. 2. The KTX-Sancheon, the successor to the French-made KTX, is the nation’s first high-speed train developed and manufactured with Korea’s own technology. Korail said it plans to present a certificate to the manufacturer, Hyundai Rotem, on Friday for the train’s accident-free record. Korail started operating the first 19 KTX-S
Dec. 5, 2012
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Samsung, Apple on edge over U.S. ruling
One of the most-watched legal decisions in IT history is due in the United States as early as Thursday (local time) when a trial hearing is scheduled to rule on whether Samsung Electronics really did infringe Apple Inc.’s crucial designs for its smart devices and must pay Apple over $1 billion for the damages inflicted. The case has dragged on for over a year, and in August, a California court reached a verdict for Samsung to compensate Apple for patent infringement. Both the amount and implicat
Dec. 5, 2012
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Samsung names Lee vice chairman in patriarch’s succession plan
Samsung Electronics Co. promoted Lee Jae Yong to vice chairman, putting him a step closer to succeeding his father as leader of the world’s biggest maker of televisions and mobile phones. The elevation from President and Chief Operating Officer is part of the executive leadership change to lead Samsung’s future growth, the Suwon, South Korea-based company said in an e-mailed statement today. The appointment puts the 44-year-old Lee in line to take over from his billionaire father Lee Kun Hee, wh
Dec. 5, 2012
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KOSPI likely to climb to as high as 2,380 next year: IBs
Foreign investment banks (IBs) are predicting South Korea's key stock index could rise as much as to the 2,380 mark next year on the back of improved economic conditions here and abroad, a report showed Wednesday. JP Morgan suggested the benchmark KOSPI will move within a range of 2,090-2,380 in 2013 as monetary easing and an increase in exports will likely fuel growth, according to the report by the Korea Center for International Finance (KCIF). As of Dec. 4, the main index has moved up 6 perce
Dec. 5, 2012