Most Popular
-
1
Korea added to key bond index
-
2
Taking away phones during school hours not a human rights violation: watchdog
-
3
North Korea notifies UN Command of plans to fortify border with South
-
4
Will Apple quit smart ring race with Samsung?
-
5
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
6
Jay Park returns with quintessential R&B album after 8 years
-
7
More deaths in ICU following doctors' mass walkout: lawmaker
-
8
Security issues to take center stage at ASEAN summit
-
9
Netflix's latest runaway hit is a Korean reality cooking show
-
10
[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
-
Samsung head plans low-key anniversary
Samsung Electronics chairman Lee Kun-hee’s 25th anniversary as chairman coming up early next month is expected to go by without much fanfare, despite this year being special for Samsung Group and the executive, industry sources said on Tuesday.This is the first year Samsung’s brand value was among the world’s top 10 brands, as chosen by a world-renowned brand consultancy. Samsung Electronics also has posted record-high earnings on the back of brisk smartphone sales. But the global company appear
Nov. 6, 2012
-
Mileage fiasco muddies outlook for Hyundai
The prospects of the longer-term impact of the latest scandal involving gas mileage overestimates of Hyundai and Kia cars sold in the U.S. are mixed, industry watchers said on Tuesday. “The mileage fallout would negatively affect the consumer awareness about Hyundai and Kia cars in the U.S.,” said Koh Tae-bong, an analyst at HI Investment and Securities. “But they consider the companies’ prompt action a plus, unlike the Toyota recall crisis in the past.”He added that he needs to look at November
Nov. 6, 2012
-
Chief of state power provider offers to resign: official
The chief of South Korea's state-run power provider has recently offered to step down, a senior government official said Tuesday, raising speculations his company's confrontations with the government over energy policy may have affected his surprise decision.Kim Joong-kyum, the CEO of the Korea Electric Power Corporation has recently submitted his resignation to the presidential office, the official at the Ministry of Knowledge Economy said, without elaborating.It is not immediately known why Ki
Nov. 6, 2012
-
Big 4 grab 66.4% of import car market
Amid the rapid growth of the import car industry, the sales gap between the top four German brands and other players widened over the past year, according to the October data of a lobby group for foreign automakers.The four major German carmakers ― BMW, Mercedes-Benz, Volkswagen and Audi ― captured 66.4 percent of the local import automobile market last month among 24 members of the Korea Automobile Importers & Distributors Association.The top four brands’ combined market share climbed 5.3 perce
Nov. 5, 2012
-
KEB 2X cardholders surpass 500,000
The number of holders of Korea Exchange Bank’s 2X card exceeded the 500,000 mark just five months after its launch, KEB announced Monday. The 2X Card appeals to three different customer segments based on age and lifestyle, and accordingly, comes in three types: Alpha, Beta, and Gamma. Customers using any of the three types of 2X Card for six consecutive months will see their benefits double. To celebrate the occasion, KEB unrolled a series of promotional events to run through December. Customers
Nov. 5, 2012
-
Hyundai rushes to respond to mileage errors
Hyundai Motor Group is moving to minimize the impact of the gas mileage overstatement after admitting last week to “errors” regarding some 900,000 vehicles it sold in the U.S. between 2010 and 2012. The American unit of the Korean auto giant issued a public apology in major U.S. newspapers, while the group chairman Chung Mong-koo summoned executives for an urgent meeting in Seoul on Monday. On Friday, the carmaker apologized to customers after the U.S. Environmental Protection Agency found error
Nov. 5, 2012
-
Merck introduces 2013 Korean art calendar
Merck Korea unveiled its 2013 calendar featuring South Korean art on Monday. The Korean affiliate of the German-based chemical and pharmaceutical company has been making calendars featuring artworks by a local artist every year since 2009. Next year’s calendar features paintings by artist Kim Ji-hye, who gained prominence through her reconstructive work combining today’s sensibility and aesthetic sense with the traditional way of painting that was commonly seen in the Joseon Dynasty. “Both inno
Nov. 5, 2012
-
Korea’s innovative role in electronics, chemicals is getting bigger: Dow Corning Korea CEO
Korea’s role is being expanded in the chemical and electronics industries, according to a top official at Dow Corning, a world leader in the silicon-making business. “Many innovations are happening in Korea. There are major R&D centers here, great technologies and manufacturers. Dow Corning identifies several megatrends of the world to focus on, and those are truly matching with the innovations happening in Korea,” Eriko Sakurai, president of Dow Corning Korea and Japan, said in an interview wit
Nov. 5, 2012
-
Price war in the skies
Boasting super cheap tickets to woo thrifty Korean customers, foreign airlines are rushing into the local market to compete with their Korean counterparts. Japanese low-cost carrier Peach Aviation launched here in May with a promotion offering one-way tickets from Incheon to Osaka at 30,000 won ($28), all taxes included. The tickets sold out within 48 hours. AirAsia Japan, a joint venture of Malaysia-based LCC AirAsia and Japanese LCC ANA Japan, also launched here last month with the same strat
Nov. 5, 2012
-
S. Korean firms’ hiring to plunge in 2013
South Korea’s job market is expected to report sluggish growth next year due to the prolonged economic slowdown, market watchers said Monday.According to the LG Economic Research Institute (LGERI), a total of 280,000 jobs are expected to be added to the local employment market next year, decreasing 34 percent from this year’s estimated 430,000 jobs.The weaker outlook comes as the central bank slashed its 2013 economic growth estimate by 0.6 percentage points to 3.2 percent following the protract
Nov. 5, 2012
-
Hyundai, Kia apologize for mileage overstatement
Hyundai Motor Co. and its sister carmaker Kia offered a formal apology Sunday following reports that they have overstated gas mileage on roughly 900,000 vehicles sold over the past two years in the United States.The leading South Korean automakers, however, stressed that the overstatement was unintentional."We sincerely apologize for these errors, and our top priority is to make things right for you," Hyundai and Kia said in a full-page statement carried by the Washington Post.The troubled firms
Nov. 5, 2012
-
Brokerages fined for bond rate fixing
A total of 20 local brokerages were slapped with a combined fine of 19.2 billion won for fixing the bond yield rates they submitted to the Korea Exchange for repurchasing the bonds put up for sale by the public. Six of the brokerages were referred to the prosecution for further investigation and penalties as they traded the largest volume and were in on the rate fixing scheme from the very beginning, the Fair Trade Commission said on Sunday. The companies also were subject to corrective action a
Nov. 4, 2012
-
Korea ranks 2nd in ICT business R&D investment
South Korea ranked second among Organization of Economic Cooperation and Development economies in terms of research and development investment in the information, communication and technology businesses, a recent report showed. The Organization for Economic Cooperation and Development’s Internet Economy Outlook 2012 released on Sunday showed that Korean companies in the ICT sectors invested 1.48 percent of the nation’s GDP in R&D. Asia’s fourth-largest economy came in third after Finland, which
Nov. 4, 2012
-
SMEC launches new LTE security solution
SMEC, a South Korean communications solution provider, announced the launch of a new Long-Term Evolution security solution. The SP Series LTE Security Solution provides security for wireless data networks such as LTE, picocell, femtocell, and WiFi. It is a carrier-grade solution based on SMEC’s optimized design technology, built using AdvancedTCA platforms. It is designed to enable operators to protect their core networks from data loss and malicious attacks as they upgrade their 3G mobile netwo
Nov. 4, 2012
-
Hyundai tries to contain mileage fallout
Hyundai Motor Group is making all-out efforts to address a possible backlash for overstating the fuel economy of some 900,000 vehicles it sold in the United States over the past two years. On Friday, Hyundai apologized to customers that “procedural errors” in testing had caused inaccurate mileage estimates that were one to six miles per gallon higher than what Hyundai and Kia brand cars were actually capable of. “Given the importance of fuel efficiency to all of us, we’re extremely sorry about t
Nov. 4, 2012
-
Final parting for LG and GS
Two of Korea’s best known family-owned conglomerates ― LG and GS ― have finally severed their ties for good after more than six decades.Last week, LG group’s corporate trading arm LG International, sold off its remaining 11.97 percent stake in GS Retail worth 287.6 billion won ($250 million). The move comes seven years after the two groups went their separate ways by splitting up the affiliates under the names of LG and GS.LG is led by the Koo family, and GS by the Huhs. “It was widely expected,
Nov. 4, 2012
-
VVIP-targeting hotel makes U-turn
A luxury hotel reputed for its “members only” facilities is sheepishly reaching out to the general public to attract new clients. Banyan Tree Club & Spa Seoul, located on the foot of Namsan, central Seoul, drew the media’s attention at the time of its opening in June 2010, claiming to be “home to a high-end social community for the top 1 percent of Korea.” Only a small number of VVIPs recommended by the selected existing members are allowed to join the club, with the membership fee coming to a
Nov. 2, 2012
-
Concierge service touches super-rich’s pride
Hotel Plaza in Seoul is the only luxury hotel that offers a concierge service for weddings. Other hotels provide a venue and catering service. But Plaza offers a concierge to oversee the whole process of the wedding. “A wedding concierge is required to be more experienced as they have to serve not just the couple but also their parents on their very special day,” said a manager at the hotel. There are three professional wedding concierges at the hotel who have more than seven years of experience
Nov. 2, 2012
-
Creditors to complete sale of Woongjin Coway by Jan.
The creditors of Woongjin Holdings said Thursday that they have decided to complete the sale of Woongjin Coway Co., a leading local water purifier maker, to MBK Partners Ltd., a leading local private equity fund, by January next year.In August, Woongjin Holdings, the parent company of Woongjin Coway, inked a deal with MBK Partners Ltd. to sell its 30.9 percent stake in the purifier unit to the private equity fund for 1.2 trillion won (US$1 billion) to help improve its financial health.Still, the
Nov. 2, 2012
-
Lotte chief, Vietnam president discuss investment
Lotte Group chairman Shin Dong-bin discussed future investment plans with Vietnamese President Truong Tan Sang and Vice Premier Hoang Trung Hai on Thursday during his visit to the Southeast Asian country, officials said Friday. It is the second time since February that Shin met the Vietnamese president to discuss Lotte Group’s business in Vietnam and seek ways to expand investment. Shin also visited Lotte’s business sites in the Southeast Asian country. Vietnam is one of the fastest growing mar
Nov. 2, 2012