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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Dropbox enters local market by offering service in Korean
Dropbox, a U.S.-based cloud storage firm, said Wednesday that its service is now available in Korean, in line with the company’s global partnership with Samsung Electronics.Lars Fjeldsoe-Nielsen, head of mobile business development at the firm, said the service is also embedded in Samsung’s latest flagship smartphone Galaxy S3, which was launched in 28 different nations on Tuesday.It is also expected to be embedded in the handset, which will be rolled out by 296 telecom firms in 145 nations by t
May 30, 2012
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Korea, China to discuss IT partnership
The Korean government will hold an information technology forum on Wednesday in China to seek cooperation in the surging global IT market, the nation’s state-run trade agency said Tuesday. The Korea-China IT Global Initiative, organized by the Ministry of Knowledge Economy along with the Korea Trade Investment Promotion Agency, will be held at the Suzhou Industrial Park, China’s largest IT cluster in Jianasu province. During the morning session, CCID Consulting, China’s leading IT consulting fir
May 29, 2012
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Korea to use radio waves for breast cancer detection
The Korea Communications Commission said Tuesday that the country will be able to use radio waves instead of radioactive rays to examine breast cancer by 2017.The government agency said its affiliate Electronics and Telecommunications Research Institute has put in a total of 3.8 billion won ($3.23 million) since last year and completed elementary research on the use of radio waves for breast cancer check-ups.The new technology enables doctors to detect a lump in the breast that is about 5 millim
May 29, 2012
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POSCO completes first steel processing plant in India
POSCO announced Tuesday that it has completed its first steel manufacturing plant in India, further strengthening its manufacturing capability in overseas markets. The steelmaker said that its three global steel production mills in Mexico, China and now India will pave the way for POSCO to make inroads into the fast-growing emerging markets. The new plant, located within the Vile Bhagad Industrial Complex in Maharashtra Province, west India, will produce 450,000 tons of hot galvanized steel pla
May 29, 2012
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Mobile game firms fined for refusing refunds
The nation’s antitrust watchdog said Tuesday that it had imposed punitive measures, including corrective orders and a combined 64 million won ($54,000) in fines, on 16 mobile game makers for their policies refusing refunds. According to the Fair Trade Commission, companies have deliberately hidden from users their legal right to have unused cyber cash returned if the request is made within seven days of a purchase. The game makers, including market leaders Nexen and NHN, however, stressed a no r
May 29, 2012
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Galaxy S3 launched in 28 countries
Samsung Electronics said Tuesday that it launched its new flagship smartphone Galaxy S3 in 28 countries at once, showing greater confidence as the world’s top smartphone maker.The company said it plans to roll out the new 4.8-inch gadget running on third-generation network technology in the U.K., France, the United Arab Emirates and Saudi Arabia, as well as countries in Europe and the Middle East. But it also said it will take as long as three weeks to supply the new pebble blue Galaxy S3 in som
May 29, 2012
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Hyundai Group seeks to expand financial business
Hyundai Group chairwoman Hyun Jeong-eun has been striving to find new growth engines for the conglomerate amid the stalled inter-Korean business led by its tourism unit Hyundai Asan.Following its takeover of Banyan Tree Club & Spa Seoul, a six-star luxury resort in Seoul, early this year, Hyundai Group ― in particular ― is seeking to expand its financial business, based upon its brokerage unit.According to financial industry sources, Hyundai Securities, which acquired the debt-saddled Daeyeong S
May 29, 2012
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Korea an inspiration for cosmetic brands: Benefit CEO
Rougeot says Korea is a global test bed, trendsetter for beauty productsCosmetic sales are rarely affected by economic downswings. Sometimes they even surge during times of slugglish economic activity as consumers are more inclined to buy less costly luxury goods instead of houses, cars or fur coats.“They call it the ‘lipstick effect’ as lipstick sales tend to remain constant through economic slumps,” Jean-Andre Rougeot, chief executive of Benefit Cosmetics, told The Korea Herald during a visit
May 29, 2012
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Entertainment agencies expand into new areas
Dining, drama production and tourism business new way up for South Korean entertainment agenciesAfter heating up the world, especially Asia, with the Korean Wave, South Korean entertainment agencies are starting to explore other business realms like dining, drama and musical productions and even tourism. SM Entertainment, one of the top three agencies here armed with popular K-pop groups like Girls’ Generation and Super Junior, will open SM Kraze next month in Cheongdam-dong, southern Seoul, in
May 28, 2012
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Samsung takes step toward workforce diversity
Firm recruits more women, disabled people, high school graduatesSamsung Electronics has upped its efforts to diversify its workforce, from those with physical disabilities to women and high school graduates to create a company open to various environmental spectrums.The country’s IT behemoth, which is famous for recruiting workers from top universities, recently announced that it picked two female commissioned officers as part of the firm’s special recruitment program.“In the case of female offi
May 28, 2012
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Korean Air, Mongolian Airlines blasted for monopolizing route
The nation’s antitrust watchdog said Monday that it would penalize Korean Air and MIAT Mongolian Airlines for peddling influence to monopolize the route connecting Incheon and Ulaanbaatar. According to the Fair Trade Commission, the two flag carriers offered favors to Mongolian aviation authorities to prevent competitors, such as Asiana Airlines, from operating flight services since 2005.Since a civil aviation agreement made in 1991, the flights between the two cities have been offered only by K
May 28, 2012
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EU retailers to seek Korean partners at Seoul trade fair
The Korea Trade Investment Promotion Agency said Monday that it will hold a business fair for European retail companies next month on the first anniversary of the Korea-EU free trade pact. According to the state-run trade promoter, 10 European retailers specialized in fashion and household goods will visit Korea to participate in the Europe Consumer Market Plaza 2012, which is held on June 27 and 28. Among the participating companies are French supermarket chain Monoprix, Swedish fashion retaile
May 28, 2012
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U.K. shop sells salt made from human tears
A London emporium has launched a type of cooking salt made from human tears, the Daily Mail reported. Customers can choose the salt product from a range of tears, including anger, sorrow, laughter, chopping onions or sneezing.According to the shop, Hoxton Street Monster Supplies, their salt “combines centuries-old craft with the freshest human tears which are gently boiled, released into shallow
May 28, 2012
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Number of Expo visitors growing steadily
More than 100,000 people visited the World Expo under way in South Korea’s Yeosu on Sunday for the first time since the event opened about two weeks ago, the organizing committee said.A three-day holiday through Buddha’s Birthday Monday is believed to have led to the rise.The 93-day event is the first Paris-based Bureau of International Exhibitions approved event hosted by South Korea since the 1993 Daejeon Expo.The increase was helped by Hyundai Motor Group, the world’s fifth largest automotive
May 27, 2012
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Mando completes construction of Brazilian plant
Mando Corp., one of South Korea’s leading auto parts manufacturers, said Friday that it completed construction of a plant in Brazil that will allow it to make inroads into the South American market.It said the plant located in Limeira, in the eastern part of the Brazilian state of Sao Paulo, has been built on 55,000 square-meters of land and has a factory floor space of 13,000 square meters.The company said it invested $50 million into the plant, which will hire around 100 local employees and ma
May 27, 2012
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KOTRA signs $200m export contract
Freezer manufacturer KEPCM said it has signed a large-scale export sales contract with a Chinese energy corporation, paving the way for a deal worth an estimated $200 million during the next five years.Called the “Green IT System Building Project,” the contract between KEPCM and a Chinese energy management corporation in Wuhan was signed at the KOTRA-organized Global Smart SOC Initiatives 2012, which took place at the Imperial Palace Seoul on May 24 and 25. Under the deal, KEPCM will work towar
May 27, 2012
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GS E&C wins $500 million hospital order in Singapore
GS Engineering and Construction Corp. has became the sole company to sign a $500 million contact with Singapore Ministry of Health to build three additional hospital wards in the outskirts of Jurong, Singapore. The order is the company’s second and largest project in Singapore, following its construction project for Fusionopolis, a research and development complex, in 2011. The country’s leading construction company said that the expected construction period is 32 months. Slated to open in early
May 27, 2012
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LG’s LTE smartphone sales top 3 million units
LG Electronics said Sunday that it sold more than 3 million LTE handsets worldwide.The company plans on rolling out more smartphones running on the fourth-generation Long Term Evolution networks in 20 different countries, including nations in the Middle East, up from the current 10.The electronics manufacturer has mainly targeted two different markets with its high-speed handsets ― North America and Korea. It also announced earlier this month that sales of the Optimus LTE had topped the 1 millio
May 27, 2012
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Samsung, Apple to meet in U.S. court in July
Korean company files opposition to Apple’s new motion last FridaySamsung Electronics vice chairman Choi Gee-sung said little when he returned from patent negotiations with Apple CEO Tim Cook late Friday.“It’s difficult to discuss matters involving the patent dispute,” said Choi as he arrived at Gimpo International Airport at 11 p.m.“I’ve been ordered to keep completely silent about the negotiations because it is part of the ongoing court case. I’ll notify the details if there are any changes mad
May 27, 2012
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Yeosu Expo visitor turnout surpasses 50,000 mark on Friday
The 2012 Yeosu Expo, which has been struggling with low turnouts, reported over 50,000 visitors entering the fairground for the first time on a weekday, organizers said Saturday.Organizers said the number of visitors reached 54,474 on Friday, with the total number of people who visited the exposition hitting 565,718 since opening on May 12.The increase was helped by Hyundai Motor Group, the world'
May 27, 2012