Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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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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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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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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[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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Major builders face sanctions for collusion on river projects
The antitrust regulator is set to take disciplinary action against a group of major builders for cartel activities during their participation in the Lee Myung-bak administration-led project to refurbish the country’s four major rivers.The Fair Trade Commission is considering fines for about 20 construction companies and filing a complaint with the prosecution against some executives of several large firms.It is alleged that some of the 20 companies took the initiative in bidding-price rigging or
June 1, 2012
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Ho-Am Foundation awards corporate excellence
Five people received awards from the Ho-Am Foundation in Seoul on Friday, at an event attended by 550 people including Samsung Electronics chairman Lee Kun-hee.At the event marking its 22nd anniversary, the prizes were given to Kim Min-hyong in the field of science, Hyeon Taeg-hwan in engineering, Jung Jae-ung in medicine, Chin Un-suk in arts and Lee Dong-han in community service.The awardees each received 300 million won ($265,000) in prize money and pure gold medals. “Talented people are the d
June 1, 2012
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Facebook introduces ‘promoted posts’
Facebook has launched a new service called promoted posts which guarantees exposure of posts at a cost.The feature, recently being tested in New Zealand, was officially introduced Thursday on the Facebook site.“Promoted posts help increase the people you reach for any eligible post,” said a Facebook staffer on the video. “It’s an easy and fast way to reach more of the people that Like your page and your friends.”The cost of the promoted posts ranges from $5 ensuring 700 views to $20 reaching 2
June 1, 2012
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Google Korea faces stern antitrust sanction
The Fair Trade Commission investigated Google Korea this week by sending its inspectors to the headquarters, marking the fourth antitrust investigation including a raid last September.While the regulator’s raid on Google’s Korean unit in southern Seoul was the result of a joint-complaint by local Internet portals it is alleged the U.S.-based tech giant hindered the FTC from conducting an ordinary probe.The allegation of obstructing civil servants’ on-the-spot investigation could yield an intensi
May 31, 2012
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Hyundai downplays reports about anti-rust coating
Hyundai Motor Group on Thursday downplayed news reports that the Korean auto giant had discriminated against local consumers by providing zinc coatings only to vehicles sold for overseas markets. Hyundai, which owns Hyundai Motor and Kia Motors, said that it has adopted the protective coating on more than 70 percent of cars sold here since late 2006, a similar level as that of the U.S. and Europe. “We have applied the zinc coatings to more than 70 percent of medium-sized cars such as Sonata and
May 31, 2012
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SKT, HMH form global smart-learning partnership
SK Telecom said Thursday that it will target the global smart-learning market together with U.S.-based global learning company Houghton Mifflin Harcourt.The two firms signed an agreement at SKT’s headquarters in downtown Seoul on the same day to jointly launch the smart-learning project.The event took place as the country’s telecom giant seeks a future growth engine to target the overseas market, much bigger in size than the increasingly saturated Korean market.As a start, SKT previously introdu
May 31, 2012
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Hanwha signs $8b contract in Iraq
Hanwha Group has signed an $8 billion contract to build a housing complex in a new town of Iraq, the conglomerate said in a statement Thursday.A formal contract was signed at a state-run office in Iraq on Wednesday, with group chairman Kim Seung-youn taking part in the event, a Hanwha spokesman said. “Its scale will mark the largest-ever in history in Korea’s overseas construction projects,” he said. The Iraqi government recently endorsed the business deal under which Hanwha Engineering & Constr
May 31, 2012
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POSCO, GE team up on power plants
Korea’s top steelmaker POSCO and U.S. energy giant General Electric have teamed up to strengthen their partnership in future energy projects, especially the development of related steel plates, POSCO officials said Thursday. POSCO CEO Chung Joon-yang and GE CEO Jeffrey Immelt held their first official meeting at a Seoul hotel on Thursday to sign a memorandum of understanding to further extend cooperation on five key areas. “GE reminds me of Thomas Edison, creativeness and innovation. POSCO has a
May 31, 2012
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Talks on software pricing expected between Microsoft, Defense Ministry
Two sides are unlikely to settle dispute in court, officials sayKorea’s Ministry of National Defense and Microsoft are expected to engage in talks over the price of software licensing provided by the global software developer following heightening tension between the two sides on the matter.An official with the ministry said that it is currently reviewing an official document sent by MS on May 29, and will seek to negotiate with MS to fine-tune their differences over the price, without giving a
May 31, 2012
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Ssangyong E&C wins top honors for building hotel in Singapore
Ssangyong Engineering and Construction recently won the Building and Construction Authority Awards ― one of the industry’s greatest honors ― in three categories for its recent construction of Marina Bay Sands Hotel in Singapore. The Marina Bay Sands, developed by U.S.-based resort company Las Vegas Sands, is an integrated resort near Marina Bay in Singapore, featuring 2,561 rooms, a 120,000 square-meter convention center and a 74,000 square-meter shopping mall. Adding to the uniqueness of the re
May 31, 2012
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Customer service for luxury brands not up to prices
A piece of cubic kept falling out from a Chanel earring 30-year-old Lim Joo-hyun received from a friend several months ago. When she took it to a Chanel boutique in central Seoul, however, she was disappointed to hear that it would take about a month to be fixed. “I was told that they do not have the same piece and that it would be replaced with a similar one which might not fit as well. The cubic fell out about two more times since then. Now I usually keep the earrings safe at home because I’m
May 31, 2012
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KT executive becomes first Asian GSMA strategy chief
KT said Thursday that the firm’s executive Yang Hyun-mi became the first Asian seated as chief strategy officer for the Global System for Mobile Communications Association.The nomination indicates that Yang, executive vice president of the customer strategy business unit at KT, will be leaving KT to serve in the GSMA position in London beginning June 15.Yang, 49, will focus on cooperating with operator members of GSMA to identify opportunities which will upgrade the mobile communications industr
May 31, 2012
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Presidential citation for S-Oil chief
S-Oil will be awarded a presidential citation in recognition of its preventive operations against oil tanker accidents and environmental damage, the company said on Wednesday. The award ceremony will be held at the 17th World Ocean Day festival to be held at the Yeosu Expo 2012 on Thursday, company officials said. The company will be the first refinery firm to be given a presidential citation. S-Oil said that it has abided by the agreement presented by the Ministry of Land, Transport and Maritim
May 30, 2012
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Businesses pledge to save electricity
The business sector said Wednesday that it would carry out a full-fledged to save electricity to support the government’s recent policy toward energy conservation.About 140,000 member firms of the Korea Chamber of Commerce and Industry will participate in the electricity-saving campaign, KCCI vice chairman Lee Dong-keun said at a news briefing.“Our members save large amounts of electricity, benchmarking the case of Japan,” he said.To prevent power shortages during the summer, the government rece
May 30, 2012
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Major business lobbies call on Assembly to vitalize economy
The nation’s five major business lobbies urged lawmakers for the 19th National Assembly, which was inaugurated Wednesday, make efforts to boost the economy.Chiefs of the five organizations in the business sector held a congratulatory reception for both ruling and opposition lawmakers, whose terms run through May 2016, in Yeouido, Seoul. “We hope that the 19th National Assembly will lead the integration and development of society,” said Huh Chang-soo, chairman of the Federation of Korean Industri
May 30, 2012
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Amore Pacific aims to join global top 7 by 2020
New facility in Osan will be jumpoff for transformation into global cosmetics company, says CEO OSAN, Gyeonggi Province ― Amore Pacific, Korea’s largest cosmetics maker, said Wednesday it plans to nearly triple its annual sales to 11 trillion won ($9.35 billion), including 5 trillion won from overseas, by 2020 through aggressive global expansion and improved supply chain management. “We aim to grow into one of the world’s top seven cosmetic companies by 2020,” Amore Pacific’s chief executive Suh
May 30, 2012
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Court battle begins over Lee’s Samsung inheritance
The inheritance fight between Samsung Electronics chairman Lee Kun-hee and his siblings officially began on Wednesday with their lawyers attending a court session on the day.The legal teams of both sides were set to meet for a hearing with a judge present at the Seoul Central District Court.“I had many worries ahead of the trial as the issue was getting bigger,” said Judge Seo Chang-won. “We will
May 30, 2012
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High-priced electronic kettles no different in quality: survey
A survey found Wednesday that some import electronic kettles marketed here were up to 4.6 times more expensive despite having no apparent difference in product quality from domestic ones. Korea Consumer Agency, a leading consumer advocacy group, surveyed 18 electronic kettle models of Korean and overseas makers as part of the Fair Trade Commission’s consumer price information program. According to the survey, Tefal’s KO410 model priced at 63,700 won ($54) was 4.6 times more expensive than the 13
May 30, 2012
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Retailers to adopt paperless receipts
The nation’s major retailers will dispense with paper receipts as they plan to complete a new mobile checkout system by the end of this year, the Ministry of Knowledge Economy said Wednesday. Shinsegae Department Store, the nation’s No. 2 retailer, is the first to adopt the system at its Jukjeon, Gyeonggi Province, branch where the digital receipts will replace paper stubs starting Thursday. Shinsegae Group, which developed the e-receipt system with the support of the government, will extend the
May 30, 2012
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New SK service unclogs mobile traffic
Gangnam in southern Seoul is one of the busiest districts in the city, and that means slower traffic ― including on mobile phones. Given the Korean trait of always being in a hurry and wanting information quickly, this can be a source of frustration.SK Telecom, the country’s largest telecommunications company, is offering a test-version of multicarrier network services in the district to relieve this problem, which is expected to increase as 4G long term evolution grows.Backed by SK Telecom’s tw
May 30, 2012