Most Popular
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Korea added to key bond index
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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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Patients opting to die with dignity on steady rise
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Toyota’s massive global recall may hit Korean unit again
Recall will deal a blow to Japanese carmaker’s effort to recover image: analystsToyota Motor Korea is on alert after its Japan-based headquarters decided to recall more than 7 million vehicles in the U.S., Europe and elsewhere around the world over a faulty power-window switch.Though the carmaker’s Korean unit tried to placate local consumers stressing that the recall does not involve vehicles sold to Korean consumers, some analysts said it could hamper Toyota Motor’s effort to bounce back in th
Oct. 11, 2012
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Two fresh orders boost flagging Hyundai Heavy
Company holding out for fourth-quarter spurt of multi-billion-dollar dealsHyundai Heavy Industries, the world’s largest shipbuilder, is gaining momentum to put its shipbuilding business back on track after winning two large-scale orders worth a combined $3.5 billion. On Wednesday, the ship manufacturer announced that it won a $270 million order to build one LNG Floating Storage Regasification Unit, or FSRU, for HEGH of Norway. The onshore facility, which can transit LNG from carriers and transfe
Oct. 11, 2012
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Air France-KLM, Etihad Airways, Air Berlin form new partnership
The Air France-KLM Group, Etihad Airways and Air Berlin recently signed new codeshare agreements to stenghten their commercial partnership. Starting on Oct. 28, the three international air carriers will offer customers more destinations and greater frequency, thanks to the mutual codeshare agreements, the companies said this week in a joint press release.On the routes between Europe and Abu Dhabi, Etihad Airways customers will be able to fly on the Amsterdam-Abu Dhabi daily flight operated by KL
Oct. 11, 2012
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S. Korean ranks 8th in business environment index
South Korea has the world's eighth-best business environment, according to a survey by a renowned consulting firm.Grant Thornton International on Wednesday released the Global Dynamism Index based on its research of the business environments of 50 major nations.South Korea recorded 64.9 out of the perfect 100 points in the overall assessment of the business operating environment, economics and gro
Oct. 11, 2012
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POSCO E&C picked as most philanthropic builder
POSCO Engineering and Construction said Wednesday that it has been picked as the most socially responsible builder in a recent survey conducted by a local think tank. The company received high points for its active overseas volunteering activities, ranking fourth across industries next to Yuhan Kimberly, Samsung Electronics and its parent company POSCO.The survey, conducted by the Institute for Industrial Policy Studies, questioned some 300 respondents living in the Seoul Metropolitan Area for o
Oct. 10, 2012
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Hanwha expands philanthropic activities
Hanwha Group has launched yearly voluntary assistance activities for the underprivileged to commemorate the 60th anniversary of its foundation.“About 5,000 executives and employees from a group of business units nationwide will participate in the social contribution activities until the end of October,” Hanwha said in a statement.Under group chairman Kim Seung-youn’s initiative for social benevolence, the conglomerate has been widening the scope of philanthropic activities since 2007, according
Oct. 10, 2012
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LS Cable completes U.S. power cable plant
LS Cable & System, the world’s No. 3 cable maker, said Wednesday it has completed a power cable plant in Tarboro, North Carolina, in a bid to boost its presence in the world’s largest economy.The move comes as the company beefs up efforts to bolster its global footing by focusing on the United States, the world’s leading producer and consumer of electric power.“The completion of the plant is one of the most important moments in the 50-year history of LS Cable & System,” chairman Koo Ja-yeol said
Oct. 10, 2012
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Consumers demand refund for ‘Downy’
South Korean consumers are demanding refunds for P&G’s fabric softener Downy in which a toxic substance was allegedly detected. Consumers Korea announced on Tuesday that its research conducted from May to August showed that Downy Berry Berry and Downy Vanilla Cream made in Vietnam contained 98 milligrams of glutaraldehyde per kilogram, which is classified as poisonous by the local harmful chemical substance management law. “The substance is highly toxic, has strong disinfectant properties, and m
Oct. 10, 2012
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Samsung, Google prepare to launch Nexus tablet
Samsung Electronics and Google are boosting their alliance in preparation to launch a 10.1-inch Nexus tablet PC.The new tablet will boast a display screen with a pixel density higher than on Apple’s third-generation iPad, Richard Shim, an analyst at NPD DisplaySearch, told CNET.“It’s going to be a high-end device,” Shim said, in contrast to Google’s $199 Nexus 7 and upcoming $99 tablet.Although a Samsung official declined to confirm the report, local industry sources said the process is currentl
Oct. 10, 2012
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Ex-French P.M. underscores ties with Asia
New opportunities abound for further political and economic cooperation between Europe and Asia, former French Prime Minister Jean-Pierre Raffarin said in an economic forum hosted by the French Korean Chamber of Commerce and Industry on Wednesday.About 90 French and Korean business and government leadership, including French ambassador to Korea Fabrice Legerri, FKCCI chairman David-Pierre Jalicon, Incheon Free Economic Zone high officials and leading French entrepreneurs attended the forum entit
Oct. 10, 2012
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STX chief discusses shipbuilding with Myanmar president
STX Group chairman Kang Duk-soo discussed business cooperation in such areas as energy development, power generation and shipbuilding with visiting Myanmarese President Thein Sein on Wednesday, company officials said. “Myanmarese President Thein Sein, who is on a three-day state visit to Korea with his delegation from Monday, had a luncheon meeting with the group’s top management in Jinhae, South Gyeongsang Province, and took a field trip to the shipyard of STX Offshore & Shipbuilding,” the grou
Oct. 10, 2012
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AirAsia CEO says no plan to buy T’way
AirAsia Berhad, the Malaysia-based low-cost carrier, has no plan to acquire Korea’s budget airline T’way Air, CEO Tony Fernandes said during a press conference in Seoul on Wednesday. “There is nothing going on right now,” he said, though he added that he would “never say never.”Speculation was rising among industry people here that Asia’s largest budget carrier was considering buying the financially struggling T’way through a consortium with Korea’s Cheongju International Airport. Local airlines
Oct. 10, 2012
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Chung named to post of World Steel Association
POSCO CEO Chung Joon-yang was elected as vice chairman of the World Steel Association, the international trade body for the iron and steel industry, POSCO said on Wednesday. Chung’s appointment was made by members of the board in the 2012 WSA annual conference, which was held in New Delhi from Oct. 10-11.Under the association’s rules, Chung automatically joined the three-member WSA chair group, which is composed of one chairman and two vice chairmen. The members of the chair group, each with thr
Oct. 10, 2012
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Hyundai-Kia’s U.S. sales to reach 1m units
Despite eurozone crisis, Korean automakers to reach milestone for second consecutive yearHyundai Motor and Kia Motors are set to achieve 1 million units in vehicle sales in the United States for the second consecutive year.For the first time in 2011, the affiliated automakers became the fourth non-American automotive group, with yearly vehicle sales exceeding 1 million units in the U.S.While Hyundai and Kia broke the 1 million-unit mark based on sales between January and November last year, they
Oct. 10, 2012
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Samsung starts Jelly Bean update for Galaxy S3 phones
Samsung Electronics Co. said Tuesday it has kicked off Jelly Bean updates for its flagship Galaxy S3 smartphones that run on the third-generation (3G) network.Following the update for the 3G model, the company plans to expand the update for the latest Android operating system version to other locally-released products, such as the Galaxy Note and the Galaxy S3 that supports fourth-generation long term evolution connection, Samsung said in a press release. (Yonhap News)
Oct. 10, 2012
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Creditor banks agree on funding for Ssangyong E&C
Five creditor banks agreed on liquidity support worth 129.7 billion won ($116.7 million) for financially struggling Ssangyong Engineering and Construction on Tuesday, according to banks and the builder.Wooribank, the main creditor, will provide the largest amount of 51.7 billion won, followed by Korea Development Bank with 3.5 billion won, Hana with 1.7 billion won, Shinhan with 1.4 billion won and KB Kookmin with 1.2 billion won. Following earlier funding worth 6.32 billion won by its largest s
Oct. 9, 2012
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Google expert posts concerns on Korea’s Internet regulation
‘Google’s Motorola purchase was to help protect Android ecosystem’A Google senior executive expressed concerns about Korea’s Internet regulation policy on Tuesday, calling the controversial online real-name system “hasty.”“We have some concerns about Korean Internet regulation,” said David Drummond, chief legal officer at Google.“Our view is that you should be careful and move slowly when you think about breaking the openness about the Internet. The real name verification law was hasty and I thi
Oct. 9, 2012
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Samsung, Hyundai-Kia dominate earnings
Data shows Korean economy heavily reliant on top two groupsEarnings of Samsung Electronics, Hyundai Motor and Kia Motors are expected to account for more than half of those reaped by the nation’s 30 major firms this year, a local financial data provider said on TuesdayAccording to FnGuide, the 30 largest enterprises are estimated to post a collective net profit of about 67.5 trillion won ($60.2 billion) this year.Among them, the profits of three ― Samsung, Hyundai and Kia ― are projected to reac
Oct. 9, 2012
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Some feel cheated by pricey matchmakers
Some professional matchmaking companies lack personnel and servicesAge: 35. Gender: male. Occupation: working for a sales department at a pharmaceutical firm. Goal: to get married. Soon.Kim Dae-jin (alias) thought he was all set to tie the knot when he gave out his personal information to sign up at Gayeon, one of the better-known matchmaking companies in Korea, next to Duo.He had been skeptical going into the deal, but his matching manager in charge of his blind dates persuaded him otherwise. K
Oct. 9, 2012
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Inje Univ. professor wins BMW’s academic award
BMW Korea said Monday that it has named Bae Jin-young, professor of management and international trade at Inje University, as the winner of the 2012 BMW Academic Award for his critical insight into the current global financial crisis. The Korean unit of the German carmaker, together with Korean-German Academy of Economics and Management, has offered the award since 1999 with an aim to accelerate academic exchanges between the two countries. In his recent academic paper, Bae offered a deep analys
Oct. 9, 2012