Most Popular
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Korea added to key bond index
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Taking away phones during school hours not a human rights violation: watchdog
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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Jay Park returns with quintessential R&B album after 8 years
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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Netflix's latest runaway hit is a Korean reality cooking show
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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Department stores offer wine at discounted prices
Major department stores will offer a huge discount for wine products in November when the nation’s big three players are scheduled to celebrate the anniversary of their foundation, respectively.The three department stores ― Lotte, Hyundai and Shinsegae ― have launched a fair or event which feature sales at a discount for wine from special vineyards.Lotte, which kicked off a seven-day wine fair on Friday, will provide consumers with premium wine products with a maximum discount of 90 percent.All
Nov. 2, 2012
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S. Korea, India to provide $1.1 bln financial support for biz cooperation
South Korea and India agreed on Friday to provide a combined $1.1 billion worth of financial support for their bilateral business cooperation, the finance ministry said.The agreement was signed during the finance minsters' meeting held in central Seoul earlier in the day between the two countries, according to the ministry.Under the agreement, both will provide the financial support through their own export-import banks over the next five years to companies seeking to join in infrastructure cons
Nov. 2, 2012
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SK Planet inks mobile game agreement with Sega
SK Planet Co., an affiliate of South Korea's top mobile carrier SK Telecom Co., said Friday it has signed an agreement with Japan's largest game developer Sega to strengthen its mobile game business.Under the memorandum of understanding, the two companies will cooperate on marketing and distributing Sega's mobile games in the local market, SK Planet said in a press release. SK said it plans to release Sega's "The Clan Battle" early next year after introducing the mobile game at the upcoming G-St
Nov. 2, 2012
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Cosmetics, food exports to Asia double in 3 years
The popularity of cosmetic products and food made in Korea is growing in Asian countries. Exports of such products to China, Japan, Thailand, Vietnam, Indonesia, Philippines and Malaysia more than doubled during the past three years, according to the Korea Customs Service on Thursday. Cosmetics exports increased from about $216.73 million in 2008 to $485.11 million in 2011, and is expected to surpass $561 million this year, which would be a jump by 16 percent compared to last year. Exports to th
Nov. 1, 2012
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Company pulls out all stops for rewarding employees
It took only three months for the happy couple to walk down the aisle. Short as it was, the courting period was unforgettable for the bride and groom, both of whom are employed at SK Hynix. They declined to be identified, but at SK Hynix, they have garnered recognition as the couple who met through the company’s “happy matchmaking program.” Speaking about the series of memorable events they went through before tying the knot, the bride said that she accidentally flushed her engagement ring down
Nov. 1, 2012
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SK Hynix cherishes workers, social contributions
SK Hynix will strive to create a favorable workplace that puts a strong focus on its employees as well as social welfare projects, the chipmaker said.Since Hynix was acquired by SK Telecom in March this year, the company has been launching various activities to include the word “happiness” in its business operations.Over 10,000 employees at the maker of dynamic random access memory chips and NAND Flash memory have taken part in volunteering efforts as of September. The activities range from offe
Nov. 1, 2012
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Samsung CEO stresses future competitiveness
Samsung Electronics on Thursday celebrated its 43rd anniversary with its chief asking its employees to work toward transforming the firm into a global top 5 brand.“With the global economy continuously expected to see low growth, the electronics industry has met huge changes which we have never experience in the past,” said the company’s chief executive Kwon Oh-hyun. “If we stay satisfied with our current results and don’t gain future competitiveness, we will collapse before we even realize it.”I
Nov. 1, 2012
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SKT, SK Hynix hold first joint global technology summit
SK Telecom and SK Hynix on Thursday jointly held their first global technology summit at Silicon Valley with about 40 Korean industry experts working in the U.S.At the event dubbed “Global Tech Leader Summit,” which was presided over by SKT chief executive Ha Sung-min, they discussed the future growth engines in the sectors of telecommunications and semiconductors as well as non-telecommunications, according to SKT officials.They also shared strategies and technologies valued by the two tech fir
Nov. 1, 2012
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Hyundai Motor sales hit monthly high
Hyundai Motor, the nation’s largest carmaker, logged its best monthly sales in October, with its global sales increasing by 13.9 percent to reach 412,189 vehicles. It was the first time that the Korean auto giant has ever seen its monthly sales exceed the 400,000 mark, officials said. The record sales came as Hyundai’s overseas production succeeded in meeting the growing demand globally, while the domestic car market also showed some sign of recovery. In Korea, the company sold 61,486 vehicles,
Nov. 1, 2012
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Instant coffee makers seek success abroad
Some instant coffee mix producers are tapping or aiming at the global stage amid heated competition in the local market.Korea’s typical instant coffee product features three-in-one coffee mix sachets containing powdered coffee, powdered cream and sugar for a single serving.Namyang Dairy has initiated the moves abroad, called “coffee reexports,” by recently making inroads into countries such as China, the United States and Australia.Though the company’s current sales target in the overseas market
Nov. 1, 2012
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Lotte, Hi-mart aim for retail top spot
Lotte Shopping and Hi-mart on Thursday made their merger official by launching their new name, “Lotte Hi-mart,” an entity both parties hope will help take them to the top in the electronics and retail industries. Experts said the acquisition by Lotte Shopping is expected to bring forth a positive synergy effect, despite Moody’s credit rating agency slashing its rating on Lotte, citing likely deterioration in the company’s financial profile. “For now, the M&A is no doubt weighing on Lotte’s finan
Nov. 1, 2012
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Sharapova named Samsung publicity envoy in Russia
Maria Sharapova, one of the world’s best-known tennis players, will promote Samsung electronic appliances in Russia as its goodwill ambassador.Samsung Electronics in Russia appointed the 24-year-old World No. 2 Russian player as its publicity envoy for Russia and the 2014 Sochi Olympics in a ceremony in Moscow, Russia, Wednesday, officials said.Sharapova, a U.S. resident since 1994, had flown to Moscow a day earlier to attend the event. Samsung Electronics seeks to further enhance the image of S
Nov. 1, 2012
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In-flight magazine to go digital, wireless
A Norwegian airline and an in-flight magazine publisher say they will use WiFi to bring airline passengers new options in in-flight entertainment.Norwegian Air Shuttle and Ink, which provides magazines for about 30 airlines around the world, said they would debut the new system next year, The New York Times reported.Using Norwegian Air Shuttle's free WiFi service, passengers will be able to access content including music, video and travel articles from the carrier's in-flight magazine on their s
Nov. 1, 2012
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How far will Apple fall?
Apple Inc. has long been about infinitely more than just gadgets and devices; it became as iconic as an IT brand could get. Profit and stock prices aside, the fact that it garnered a spot on every hip youngster’s Christmas wish list was proof enough of its success.Now there are questions about whether it could follow in the footsteps of RIM and Nokia, one-time industry leaders who are now becoming mere shadows of their former selves. Apple certainly isn’t on its deathbed, far from it ― it’s stil
Oct. 31, 2012
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Korean passengers too pampered?
AirAsia, the world’s largest budget carrier, recently launched a new route connecting Incheon and Narita, offering a special price for a one-way ticket at 30,000 won (less than $28) with all taxes included. The 4,000 prepared tickets sold out immediately via the company’s website between Oct. 11-17. But intense competition aside, some complaints surfaced even among the lucky customers who purchased the tickets. They didn’t know that they could be charged to use additional services like a meal on
Oct. 31, 2012
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‘House poor’ become social issue
The number of so-called “house poor,” or burdened by mortgage and loan debt, has emerged as a social woe amid the protracted slump in the property market.When real estate prices surged between 2005 and 2006, many middle-income earners purchased houses that were out of their budget and have been financially pinched after housing prices plummeted following the 2008 global crisis.The number of “high-risk” house poor, or those with no ability to pay off their mortgage debt in full even if they sell
Oct. 31, 2012
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KEPCO unit wins $1b deal from Jordan
KEPCO Plant Service & Engineering Co., a South Korean industrial plant builder, said Wednesday that it has signed a $1 billion deal for the operation and maintenance of a power plant in Amman, the capital of Jordan. Under the deal with Amman Asia Electric Power Company, KPS said it will operate and maintain the power plant for 25 years and six months for the AAEPC.KPS is a subsidiary of Korea Electric Power Corp., South Korea’s state-run power provider. The power plant is located in an area 30 k
Oct. 31, 2012
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STX to sell 43.1% stake in energy unit to Orix
STX Group said on Tuesday it has signed a contact with Orix Corp., a Japanese financial company, to sell a 43.1 percent stake in STX Energy, the group’s energy business arm. Under the deal, the group aims to raise 360.1 billion won ($330 million).Despite a hefty sell-off, STX Group will continue to keep its management rights in the affiliate with a more than 50 percent stake, the company said. The main businesses of STX Energy are power plant construction and energy development. Orix has investe
Oct. 31, 2012
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Samsung, LG win top spots on Consumer Reports
A smartphone produced by Samsung Electronics Co. and household appliances made by LG Electronics Inc. have been chosen as the best products of the year by an authoritative U.S. magazine, industry sources said Wednesday.Consumer Reports gave the South Korean tech giant’s Galaxy S3 smartphone the highest marks out of similar products tested.Samsung’s two-door refrigerator and 32-inch and 60-inch liquid crystal display TVs and 60- to 64-inch plasma display panel TVs also received the highest rankin
Oct. 31, 2012
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Nation’s IT giants to hire more overseas Koreans
The nation’s big enterprises and information technology-oriented venture firms will hold a job fair in Silicon Valley in the United States in November to recruit overseas Koreans.The job fair, slated for Nov. 12-13 in Santa Clara, California, is part of the first premier technology conference organized by the Ministry of Knowledge Economy.Among the estimated 30 sponsors and recruiters are Samsung Electronics, LG Electronics, SK Hynix and Asiana Airlines.Ministry officials said the recruitment ta
Oct. 31, 2012