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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SPC Group shares love, hope with community
Following is the seventh in a series of articles featuring companies’ social contribution activities. ― Ed.SPC Group, a leading food company that runs bakery franchises such as Paris Croissant and Paris Baguette, has been making consistent efforts to support disabled children and underprivileged people.Since May this year, each SPC Group employee has donated 1,000 won per month, matched by the company for a fund, to contribute to Purme Foundation which supports disabled children. The money will
Sept. 19, 2012
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Samsung, LG, Philips sued by Illinois for price fixing
Samsung Electronics Co., LG Electronics Inc. and Philips Electronics North American Corp. were sued by Illinois over alleged price fixing, based on claims the companies inflated costs for computer monitors and televisions. Illinois Attorney General Lisa Madigan filed the suit today in state court in Chicago. The complaint, which also names Hitachi Ltd. and Toshiba Corp. among others, claims the c
Sept. 19, 2012
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FTC launches consumers’ assessment program
The Fair Trade Commission launched on Monday its first-ever survey program, which entitles consumers to directly assess product quality based on their user experiences.This marks the first time that a government agency, rather than civic organizations, will provide the sort of consumers’ product-evaluation reports in Korea.Its first target is the sport utility vehicle sector of local and foreign carmakers such as Hyundai Motor, Renault Samsung Motors, BMW and Mercedes-Benz.The state-run online p
Sept. 18, 2012
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Hanwha Chemical expands EVA plant in Korea
South Korean chemicals maker Hanwha Chemical Corp. said Tuesday it has expanded its ethylene-vinyl acetate plant in the country’s southeastern part to sharpen its global competitive edge. The expansion will increase the plant’s annual production capacity to 160,000 tons from the current 120,000 tons and generate additional sales of 100 billion won ($89.5 million), Hanwha Chemical said in a press release. EVA, a high-value chemical that was produced in 1985 for the first time in South Korea by Ha
Sept. 18, 2012
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SK Innovation completes battery plant
SK Innovation completed on Tuesday its second plant for automobile batteries in Seosan, South Chungcheong Province, heralding fiercer competition in the automobile battery market, company officials said. About 250 billion won ($223 million) was invested in the construction of the plant, which has a production capacity to supply 10,000 electric cars, or about 20,000 hybrid cars, per year.Built on a 231,000 square-meter tract of land, the Seosan plant comprises three major parts, the battery, form
Sept. 18, 2012
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LG to launch flagship Optimus G next week
LG Electronics unveiled plans Tuesday to roll out its new flagship smartphone Optimus G in the local market next week through the nation’s three mobile carriers.The firm also said the 4.7-inch display gadget ― running on fourth-generation Long Term Evolution networks as well as third-generation networks ― will be launched in Japan next month and in the U.S. and other Asian markets in November.The Optimus G, which was dubbed LG’s new flagship smartphone by the company’s mobile chief Park Jong-seo
Sept. 18, 2012
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‘BMW is unlike Toyota and Volkswagen’
Son of BMW’s legendary former CEO Kuenheim now leads fast growing Asian businessBMW Group’s new Asia chief Hendrik von Kuenheim remembers when Hyundai Motor launched its first passenger car Pony in the U.S. market back in 1986 when he worked as a sales manager in Los Angeles. “Hyundai is a remarkable success story. It has come a long way in design and quality. Hyundai and Kia will become a tremendous challenge to (the world’s top sellers) Toyota and Volkswagen,” he said during a press conference
Sept. 18, 2012
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‘P&G Korea responds faster to demands’
Procter & Gamble Korea’s new chief executive Lee Sue-kyung said on Tuesday that her company will respond faster to market demands and changes from now on.“P&G has suffered several times in the past in competition with Korean companies, which are very quick in both information gathering and action,” Lee said in a press conference.“Agility is one of the three most important virtues required at P&G, along with strategic thinking and leadership skills. The ability to swiftly cope with market situati
Sept. 18, 2012
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‘Holland’s Martha Stewart’ helps widen choice of home furnishings
The choice of home decor in Korea has been rather limited, considering the country’s burgeoning population of fastidious shoppers.They either had to choose from a handful of local home furnishing companies or go to Namdaemun Market to hunt down unofficially imported candle holders or teapots that meet their tastes. Worse still, some put up with the exorbitantly overpriced foreign brands sold in department stores. That is what drove a Korean importer to open Asia’s first Riviera Maison store near
Sept. 18, 2012
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Samsung chairman fails to appeal compensation ruling
Samsung Electronics chairman Lee Kun-hee did not lodge an appeal by the due date against the latest high court ruling that found him guilty of malpractices carried out to make his son's takeover of the conglomerate easier, industry and court officials said Monday. South Korea's richest man showed no signs of filing an appeal at the Daegu District High Court, which was due on Sept. 12 if he had dec
Sept. 18, 2012
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Samsung heir apparent takes on bigger role
Lee Jay-yong meets with Renault CEO Carlos GhosnSamsung heir apparent Lee Jay-yong is seemingly taking on a bigger role in management, actively engaging in talks with world industrial leaders.Samsung officials confirmed on Monday that the chief operating officer of Samsung Electronics, who is also the only son of Samsung Electronics’ chairman Lee Kun-hee, met with Carlos Ghosn, the chairman and chief executive of the Renault-Nissan Alliance.Although the company officials could not confirm the de
Sept. 17, 2012
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Kia’s K3 hints at fierce race in compact car market
Kia Motors unveiled its new compact K3 on Monday, paving the way for fiercer competition in the nation’s small sedan market where Hyundai Motor’s Avante and Renault Samsung Motors’ SM3 have been dominant players. Kia revealed its annual sales target of 55,000 units during a press conference held at Alpensia Resort in PyeongChang, Gangwon Province, with some 200 company officials and reporters in attendance. “Kia cars are creating a sensation in Korea and overseas markets with their unique desig
Sept. 17, 2012
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FTC chairman warns big firms on irregularities
Antitrust regulator poised to take stern action over unfair practices against suppliersThe nation’s top antitrust regulator said on Monday that it will weed out irregularities at large companies.The Fair Trade Commission said the warning will be given to business leaders when FTC chairman Kim Dong-soo meets them on Tuesday. “The meeting between FTC chairman Kim and the chief executives is designed to prevent big firms from bullying subcontractors,” the FTC said in a statement.Participants will l
Sept. 17, 2012
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For S. Korean men, makeup a foundation for success
Cho Won-hyuk stands in front of his bedroom mirror and spreads dollops of yellow-brown makeup over his forehead, nose, chin and cheeks until his skin is flawless. Then he goes to work with a black pencil, highlighting his eyebrows until they're thicker, bolder. “Having a clean, neat face makes you look sophisticated and creates an image that you can handle yourself well,” the 24-year-old college s
Sept. 17, 2012
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Agro-fisheries CEOs emphasize exports
About 20 CEOs leading the National Agro Food and Beverage Cluster Association under the Ministry of Food, Agriculture, Forestry and Fisheries held their second CEO Forum last week in southern Seoul to discuss ways to boost the nation’s agriculture and fisheries industry. Lee Kyung-soo, head of the association as well as president of Jebba Food & Beverage Corp., a guild of bokbunja growers in Gochang, North Jeolla Province, stressed in the meeting that CEOs in the agriculture and fisheries indust
Sept. 16, 2012
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‘Protectionism’ concerns rise after patent disputes between Samsung, Apple
ITC initially rules Apple did not infringe Samsung patentsProtectionism is rising as a hot topic following the U.S. International Trade Commission’s initial ruling last week that Apple did not violate four of Samsung Electronics’ patents.Edward Gildea, administrative law judge at the ITC, said in a notice posted on its website that the Cupertino-based Apple’s gadgets ― such as the iPhone, iPad and iPod ― did not infringe on Samsung’s intellectual properties earlier on Saturday, local time.The ev
Sept. 16, 2012
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Chinese leader visits Kia Motors plant
Kia Motors is gaining stronger confidence from senior public officials in China as it has successfully carried out localization strategies in its operation of automobile manufacturing plants in the country.The carmaker said that China’s top political adviser Jia Qinglin visited a Kia factory, dubbed Dongfeng Yueda Kia, in Yancheng District Economic Development Zone in Jiangsu Province over the weekend.Jia, one of the top four Chinese leaders, along with Hu Jintao, Wu Bangguo and Wen Jiabao, hold
Sept. 16, 2012
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GS chief instructs staff to adapt to latest trends
GS Group chairman Huh Chang-soo called on his staff to build up a robust management structure by swiftly adapting to the latest trends.“If GS really wants to take the initiative in successfully coping with changes in the market, it should profoundly assess customer needs,” he told subsidiary CEOs at a future strategy meeting over the weekend.New concepts and ideas, based on these research activities, will guarantee a basis of firmly rooted management, he stressed.Over the past few years, the GS
Sept. 16, 2012
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Hanwha pushes for Iraq’s housing project in earnest
Builder receives upfront payment of $775 million for $8b project near BaghdadHanwha Engineering and Construction Co. said it received $775 million (about 870 billion won) from Iraq’s National Investment Commission in the upfront payment for the $8 billion housing project near Baghdad.Company officials said it took the advance payment, about 10 percent of the total contract amount through the Iraqi central bank on Sept. 13.The payment dispelled some concerns about a possible delay in the massive
Sept. 16, 2012
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Global academics to discuss social housing in Seoul
LH Corp. chief says housing welfare is a basic condition for a happy societyAn international conference on housing welfare ― which is expected to become a key welfare policy for Korea’s next administration ― will be held in Seoul on Monday, with global academics in attendance. The event comes as the Korea Land and Housing Corporation, the state-run land and housing developer, celebrates the third anniversary of its renaming this year, together with its affiliated Land and Housing Institute. A to
Sept. 16, 2012