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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Carbon market value expands 16-fold in less than decade
The world’s carbon trading market is growing at an accelerating rate, according to financial sources and the World Bank on Wednesday. The volume of the global carbon emission trading market -― a market where companies or individuals buy carbon credit to lower their total CO2 emissions ― reached $176 billion last year, 16 times greater than in 2005 when the Kyoto Protocol went into effect. The Kyoto Protocol is an international treaty under the U.N. that set binding obligations on industrialized
Oct. 24, 2012
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Samsung wins Dutch court battle with Apple
A Dutch court ruled Wednesday that Samsung Electronics did not infringe on an Apple patent for using certain multi-touch techniques on wireless gadgets such as the Galaxy S2 and the Galaxy Tab 10.1.A court in The Hague said that Samsung did not infringe on the patents that Apple has claimed against its Galaxy smartphones and tablets.“This ruling is a case that confirms our product did not violate Apple’s patents,” said a Samsung spokesman. “Samsung plans on continuously featuring innovative prod
Oct. 24, 2012
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Asiana raises 7b won through passengers’ donation
Asiana Airlines has raised a total of 7 billion won ($6.3 million) through Change for Good, an in-flight currency donation partnership between UNICEF and the international airline industry.It took the Korean carrier 18 years to collect the money since it joined the program in 1994.Asiana Airlines held a ceremony at the United Nations headquarters in New York Tuesday to mark the collection of 7 billion won through the donation campaign. Guests included United Nations Secretary-General Ban Ki-moon
Oct. 24, 2012
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Pulmuone invites foreigners to kimchi museum
Eco-friendly food maker Pulmuone invites foreigners to take part in an educational program that includes kimchi-making from Wednesday through the end of November at its kimchi museum in COEX, southeastern Seoul.Participants of the program “I Love K,” short for “I love Korea and kimchi,” are given a chance to look around the kimchi museum which shows the history and different types of kimchi, traditional storage methods for the Korean pickled cabbage as well as kimchi-related antiques and materia
Oct. 24, 2012
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Korea, 15 Asia-Pacific nations to open regional FTA talks
South Korea and 15 other countries are set to launch negotiations on a regional free trade pact next month, which could bring huge economic impact to Asia’s fourth-largest economy, Seoul’s Trade Ministry said Wednesday.According to the ministry, the so-called Regional Comprehensive Economic Partnership involves the 16 countries ― the 10 ASEAN members plus China, Japan, South Korea, India, Australia and New Zealand, and aims to liberalize trade in goods, services and investment in the Asian regio
Oct. 24, 2012
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Kia pins high hopes on K3 to expand China sales
SHANGHAI ― A Shanghai dealership for Kia Motors has seen its number of visiting customers rise more than 10 percent since anti-Japan sentiment across China escalated last month amid their bitter row over a group of uninhabited islets. “We have 15-18 percent more customers recently following the China-Japan territorial disputes,” said He Renzhou, general manager at the best-selling Kia outlet in Shanghai. “Even before that, the car sales of Japanese companies had been declining. Meanwhile, Kia ha
Oct. 24, 2012
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LGE comes back into black for Q3
LG Electronics said Wednesday it posted an operating profit of 221 billion won ($195.06 million) for the third quarter of this year, with its mobile business unit coming back into the black.In its regulatory filing for July-September, the local electronics firm also said that it recorded 12.37 trillion won in total sales and 157 billion won in net profit.The figures indicate that total sales for the third quarter slid 4 percent from 12.9 trillion won recorded during the same period last year. Bu
Oct. 24, 2012
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SK Hynix to cut 20% of executives
SK Hynix, the result of SK Group’s highly publicized merger with Hynix Semiconductor this year, is expected to dismiss up to 20 percent of its executives within the next two months. Industry sources said the dismissal rate could go up to as high as 30 percent when including some non-executive employees.The sources said SK Hynix has been without an owner for too long, and had become too big and unwieldy for SK to cope with.“Think about it. It has had no owner for a decade. It’s high time that the
Oct. 24, 2012
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U.S. film association chief seeks stronger ties with Korea
The Motion Picture Association of America wants more collaboration with the Korean film industry, MPAA chairman Christopher Dodd said in Seoul on Wednesday.Dodd was speaking at a luncheon hosted by the American Chamber of Commerce in Korea. The former U.S. Democratic Party senator said Korea was one of the U.S.’ most significant trade partners, adding that the partnership between the two nations would only deepen in the years to come. Commenting on the success of Korean films by directors Im Kwo
Oct. 24, 2012
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SK Hynix to dismiss 20% of executives by year’s end
Group wants to slim down, put SK people in Hynix to revamp SK Hynix, the brainchild of SK Group’s highly publicized merger with Hynix Semiconductor this year, is expected to dismiss up to 20 percent of its executives within the next two months. Industry sources said the dismissal rate could go up to as high as 30 percent when including some of the non-executive employees.The sources said SK Hynix has been without an owner for too long, and had become too big and unwieldy for SK to cope with.“Th
Oct. 24, 2012
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GE Korea opens energy tech center
General Electric Korea, the Korean unit of General Electric Co., opened a new energy technology center near Seoul on Tuesday, seeking more business partnerships with domestic firms.Built within the firm’s research and development complex, in Pangyo, Gyeonggi Province, the energy technology center supports sustainable growth and efficient solutions, company officials said. “The work going to be done here is the synergy between the high-end research and application-oriented work that will bring be
Oct. 23, 2012
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Apple offered Samsung unfair deal: Groklaw
A U.S. legal news provider revealed an allegation that Apple Inc. made an unfair licensing offer to Samsung Electronics over patent payments in October 2010.Apple had offered Samsung an additional 20 percent discount for the Korean smartphone manufacturer’s usage of Apple’s licenses, including Windows phones and tablets, under the scenario of a cross license deal, Groklaw said in its recent report.The failed offer was based on the U.S. firm’s alleged intention to pressure Samsung to scrap its us
Oct. 23, 2012
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Firms bogged down by Q3 woes
Fears of an earnings shock are sweeping across Korean industries as several major companies have already reported sharply declining profits in the third quarter.Amid economists’ diagnosis that the Chinese and U.S. economies hit bottom in the three months to September, both Korean companies’ exports and domestic sales have been worse than expected. Businesses are undercutting their earnings forecasts for the third quarter, although they are hopeful things will perk up in the final quarter of this
Oct. 23, 2012
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Mattel builds on lifestyle brands with local partners
Barbie has been loved around the world for over half a century since 1959, and now she is more than just a perfectly figured doll that comes in various themes, professions and ethnicities.“Barbie is not a character brand; it is a fashion brand that has hundreds of licensees or partners that make Barbie perfumes, Barbie shoes, cosmetics, jewelry, laptops and even hair salons,” Claire Gilchrist, Mattel’s top executive of consumer products in the Asia Pacific region, said in an interview with The K
Oct. 23, 2012
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Tobacco makers oppose new rules on social contribution
A silent but potent war is brewing between tobacco makers and the government over whether the companies should be permitted to contribute to social causes. In September, the Ministry of Health and Welfare signaled that it was time to end what they consider to be “promotion-oriented” contributions from cigarette companies by announcing a new legal revision. Under the new rule, companies, which had been permitted to sponsor sports-related campaigns for raising social awareness on significant issue
Oct. 23, 2012
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Apple Korea chief Dominique Oh gets pink slip by email
Dominique Oh notified of leave with single e-mailDominique Oh, the head of Apple Korea, stepped down last week, a move staged against his will, according to multiple industry executives Tuesday.“He was told to leave his position as general manager through an e-mail,” said a top industry executive. “The news was a shocker. I don’t know who will want the job after this.”Oh’s ouster came as a surprise as the Cupertino-based IT behemoth is currently looking forward to releasing its latest iPhone 5 h
Oct. 23, 2012
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EU retorts France's complaint over Korean automakers
The European Union (EU) has decided not to accept France's claim that its domestic auto market has been hit by a surge in imports of South Korean vehicles, Seoul's trade ministry said Tuesday.On Monday, the European Commission, the executive body of the EU, reviewed a request made in July by France, and decided not to put South Korean autos on a prior surveillance list. The move could trigger a safeguard measure against imports from South Korea in the worst-case scenario, according to the minist
Oct. 23, 2012
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Exports of military hardware to hit record high
The defense industry is projected to mark an all-time high in its weapon exports this year, according to the Korea Institute for Industrial Economics and Trade.While the nation had mostly exported ammunition and components for weapons, it recently diversified products such as self-propelled artillery and submarines.Among the major export destinations are the United Kingdom, Peru and India, KIET said in a report.The defense-related orders from abroad rapidly increased over the past few years ― fr
Oct. 22, 2012
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Whiskey sales fall
Whiskey consumption has continued to drop in the local market amid the economic slowdown and many consumers’ reduced preference for strong alcohol.Sales of whiskey came to 517,912 boxes ― which contain 18 bottles, 0.5 liters each ― during the July-September period, down 13.4 percent over the same period last year, according to the local liquor industry.The slowing pace has become faster compared to the 10.1 percent slowing fall, posted during the first half of the year.Diageo Korea saw its sales
Oct. 22, 2012
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Electronic cigarette firms punished for false ad
Electronic cigarette manufacturers were punished and forced to make changes to their misleading advertisements, the nation’s antitrust watchdog said on Monday. The Fair Trade Commission said that electronic cigarette firms have falsely advertised that replacing regular cigarettes with electric cigarettes is effective in quitting smoking. Although the health-improving effect and safety of electric cigarettes have long been disputed, the public can easily conceive the wrong impression of electroni
Oct. 22, 2012