Most Popular
-
1
Korea added to key bond index
-
2
North Korea notifies UN Command of plans to fortify border with South
-
3
Will Apple quit smart ring race with Samsung?
-
4
[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
-
5
Jay Park returns with quintessential R&B album after 8 years
-
6
More deaths in ICU following doctors' mass walkout: lawmaker
-
7
Security issues to take center stage at ASEAN summit
-
8
Netflix's latest runaway hit is a Korean reality cooking show
-
9
[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
-
10
Patients opting to die with dignity on steady rise
-
GS Group must focus on Chinese operations: Huh
GS Group chairman Huh Chang-soo wants his company to make a measured but significant leap into Chinese markets based on the technological prowess and experience it has gained from the domestic market.“GS Group must focus its core competence on managing (the company’s) Chinese business operations,” Huh said on Monday when he made an on-site visit to the Chinese operations of GS Caltex and GS Global in Suzhou, Jiangsu Province. Huh, flanked by GS Corp. vice chairman Seo Gyeong-seok and other execu
Sept. 24, 2012
-
Kumho Asiana chief named honorary citizen in China
Kumho Asiana Group chairman Park Sam-koo was conferred honorary citizenship by authorities in Nanjing, China, for his contribution to development of the region.Park has been evaluated as one of the key business leaders, who have pushed ahead with bilateral economic cooperation between Korea and China.Kumho Tire’s Nanjing plant, set up in 1994 as a joint venture with a Chinese tire manufacturer, currently produces 5 million tires every year, accounting for 14 percent of the world’s fastest-growin
Sept. 24, 2012
-
Top 30 conglomerates‘ annual salary stands at 63 mln won
Employees of South Korea’s leading 30 conglomerates earned an average of 63 million won last year, with Hyundai Motor Group workers topping the list, data showed Monday. Hyundai Motor Group, the nation‘s second-largest chaebol by asset, eclipsed others with 84 million won, according to the data by corporate information tracker Chaebol.com., which analyzed the annual income of under-department manager-level employees at 193 listed affiliates of the conglomerates,Hyundai Heavy Industries Group cam
Sept. 24, 2012
-
Gas prices soar 2.3-fold in 14 years
The price of gasoline sold in South Korea has more than doubled since 1997 when the country lifted restrictions on oil prices, industry data showed Sunday.According to the data compiled by the Korea National Oil Corp., the gasoline price at the pump averaged 1,929 won ($1.73) per liter last year, up 130 percent from 838 won in 1997.The price of diesel also skyrocketed over the cited period. A liter of diesel oil was 376 won in 1997 but jumped 364 percent to 1,745 won in 2011.The KNOC data showed
Sept. 23, 2012
-
Private think tank cuts Korea’s growth estimate
South Korea’s economic growth rate for 2012 is expected to slow to 2.5 percent from an earlier estimate of 3 percent due to a global economic slowdown, a private think tank said Sunday.The growth projection by the LG Economic Research Institute is much lower than the government’s 3.3 percent estimate. The central Bank of Korea expects the economy to expand 3 percent this year.The LGERI also said the South Korean economy, Asia’s fourth-largest, will likely expand 3.3 percent next year without ent
Sept. 23, 2012
-
Makgeolli exports shrink 22.4%
Overseas shipments of South Korea’s traditional rice wine, makgeolli, shrank sharply in the first eight months of the year in the midst of a deepening global slowdown, customs data showed Sunday.According to the data by the Korea Customs Service, makgeolli exports totaled US$29 million in the first eight months of the year, down 22.4 percent from a year earlier. The volume of the beverage fell 24.1 percent on-year to 22 million liters over the eight-month period.Exports of makgeolli had jumped 8
Sept. 23, 2012
-
Top 10 big firms hiring fewer staff than they can afford
Hyundai Heavy, Hyundai Motor, POSCO had the lowest employment rateKorea’s top ten companies have been slow and reluctant to hire new employees despite a sharp increase in revenue over the years, according to media reports citing data by the Financial Supervisory Service and the Korea Chamber of Commerce and Industry.The number of people employed by the top 10 in their respective sectors such as consumer electronics, automobile, steel and retail only stood at 294,652 last year, up from 222,995 in
Sept. 23, 2012
-
Yongsan development plan in jeopardy
Korea’s historic property project faces another feud among largest shareholdersKorea’s largest-ever urban development plan in Seoul is falling into further disarray as its two major shareholders clash over control of the 31-trillion won ($27 billion) project. Yongsan, located in the heart of Seoul, is planned to receive a large-scale facelift and transformation into an international business hub by 2016. The project includes the construction of the world’s second-tallest building and 22 other sk
Sept. 23, 2012
-
Lee ranks 100 in Bloomberg rich list
Lee Kun-hee, the chairman of Samsung Group, Korea’s largest family-run conglomerate, has been ranked 100th in the Billionaires Index by Bloomberg, a U.S. media firm.It said that Lee owns assets worth some $10 billion (11 trillion won), joining the world’s 100 wealthiest individuals for the first time. The index has been expanded to 100 from 40.Carlos Slim, the Mexican telecom magnate, remains the richest man with a $74.5 billion fortune, followed by Bill Gates, founder of Microsoft, with $64.8 b
Sept. 23, 2012
-
Apple, Samsung demand changes to $1B verdict
Neither side in a bitter patent battle is satisfied with Apple Inc.'s $1 billion jury verdict over Samsung Electronics Co. after a three-week trial this summer. Samsung wants a new trial. Apple is seeking an additional $707 million in damages and interest. The two companies filed a blizzard of legal papers late Friday and early Saturday with their demands that a federal judge in San Jose significa
Sept. 23, 2012
-
Samsung didn't violate Apple patent: German court
A German court on Friday found Apple Inc.'s patent infringement claim on Samsung Electronics Co. invalid, giving an upper hand to the South Korean company that suffered a crushing defeat in an earlier U.S. jury verdict.The district court in Mannheim, one of the three German courts the two rivals have been facing off in, ruled Samsung didn't infringe the iPhone maker's patent on multi-touch flags.
Sept. 21, 2012
-
iPhone 5 restriction poised to spark Samsung discounts in Europe
Apple Inc.’s iPhone 5, only able to access the fastest available mobile networks on specific airwaves, is prompting disadvantaged carriers in Europe to cut prices for handsets from rivals such as Samsung Electronics Co.The iPhone 5, which goes on sale today, will connect to fourth-generation wireless networks in Europe that run on a 1,800 megahertz band, favoring carriers who do have a network attuned to that frequency, including Germany’s Deutsche Telekom AG and its British EE venture with Fran
Sept. 21, 2012
-
S. Korean airlines agree to cut greenhouse gas emissions
South Korea's air carriers have again agreed to reduce their greenhouse gas emissions as part of national efforts to fight climate change, the government said Friday.The voluntary agreement is the third of its kind signed by the country's seven airlines, including flag carriers Korean Air and Asiana Airlines, according to the Ministry of Land, Transport and Maritime Affairs."Under the first agreem
Sept. 21, 2012
-
Samsung’s war on excessive drinking
Samsung Group, the country’s largest conglomerate, has stepped up efforts to stamp out a corporate culture of excessive drinking common in Korea.The group said that it has launched an in-house campaign across its subsidiaries in a bid to discourage binge drinking, forced drinking or other harmful types of drinking to promote a healthy workplace environment.This comes months after Samsung cleared out all ashtrays inside and outside its buildings to promote a “No Smoking” atmosphere, even telling
Sept. 20, 2012
-
Ssangyong E&C wins orders from Iraq
South Korean builder Ssangyong Engineering & Construction Co. said Thursday it has won an order from Iraq. Under a deal with the Kurdistan regional government, Ssangyong E&C will build a water treatment plant and transmission and storage facilities in the cities of Halabja and Sulaymaniah in Iraq’s self-ruled northern Kurdish region under a project financed by the Japan International Cooperation Agency, the company said. The company is scheduled to receive 45 billion won ($40 million) as an adva
Sept. 20, 2012
-
Hanwha Life focuses on customer satisfaction
Hanwha Life Insurance, which recently changed its name from Korea Life Insurance, is seeking to hone an image as a youthful, vigorous company that offers customized services. Hanwha Group changed its insurance subsidy’s name in July, 10 years after it acquired the insurer, with the aim of creating a uniform brand image. All subsidies of the group are now named Hanwha. Revamped, the insurer vowed to improve the Home Visit Service, which was first introduced by the company in 2007. By visiting tho
Sept. 20, 2012
-
Herald Ecofarm set to pioneer organic market
Chef mixes organic fruit juices with invigorating herbsFresh fruit juice is sold in almost all cafes these days as people place more emphasis on their health, but organic fruit juice is still extremely rare.Only around 1 percent of Korea’s fruit and vegetable produce is organic, according to the National Agricultural Products Quality Management Service.Herald Ecofarm, a food business affiliated with Herald Corporation, is getting ready to pioneer the organic juice market with healthy products th
Sept. 20, 2012
-
Saudi Aramco to set up Korean branch
The Saudi Aramco, the world’s largest oil company in terms of crude oil reserves and daily production, is considering setting up a Korean operation to expand its presence in the nation’s energy market, industry sources said Wednesday. The state-run oil company already registered its new branch named Aramco Asia Korea Ltd. in May and is currently recruiting employees. Its office will be located in the Seoul Finance Center in Gwanghwamun, central Seoul. The company, which is the largest shareholde
Sept. 19, 2012
-
Kia Motors poised to export K9
Destinations include Middle East, China and Southeast AsiaKia Motors is considering exporting the K9 sedan in the coming months, having sold the premium sedan exclusively in the local market until now.The automaker’s first export destinations will likely be the Middle East, China and Southeast Asian countries, according to company executives. The K9 will be dubbed the Quoris in overseas market.“After targeting the Asian market later this year and early next year, we will fine-tune the timing of
Sept. 19, 2012
-
NPS’ stake in top firms hits record high
Pension fund’s stake in 10 largest groups surpasses 4 percentThe National Pension Service saw its average stake in 10 major business groups’ subsidiaries, listed on the stock market, come to an all-time high of more than 4 percent.The pension fund, as a result, is expected to exercise its shareholder right in the conglomerate sector more actively, stock research analysts predicted.According to Chaebul.com, a conglomerate-tracking website, the average stake held by the NPS in 93 companies of the
Sept. 19, 2012