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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Hotel gold-rush starts in Seoul
Investors rush over to hotel funds to benefit from expected hotel boom in capitalKeen investors are eying the hotel industry with new light. Buoyed by the Korean Wave, more tourists have been visiting South Korea during the last few years and have increased the demand for hotel rooms. More than 10.8 million are expected to visit Seoul this year, needing at least 43,000 hotel rooms, according to the Seoul Metropolitan Government. The number of available hotel rooms, however, is only about 28,900.
May 18, 2012
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Gold digging at hotels
Investors rush over to hotel funds to benefit from expected hotel boom in Seoul Keen investors are eying the hotel industry with new light. Buoyed by the Korean Wave, more tourists have been visiting South Korea during the last few years and have increased the demand for hotel rooms. More than 10.8 million are expected to visit Seoul this year, needing at least 43,000 hotel rooms, according to the Seoul Metropolitan Government. The number of available hotel rooms, however, is only about 28,900.
May 18, 2012
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Korean shellfish at risk for feces exposure, U.S. says
The U.S. is curbing shellfish imports from South Korea after food safety regulators determined that inadequate sanitation may have exposed oysters, mussels, clams and scallops to human fecal waste. The Food and Drug Administration removed Korean shippers from its certified shellfish list on May 1, Curtis Allen, an agency spokesman, said in an e-mail today. The FDA cited risks from water and land-b
May 18, 2012
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LG to launch Optimus LTE 2 in Korea this week
LG Electronics said Thursday that it will launch its new flagship smartphone Optimus LTE 2 in the local market this week.In a press event held at its headquarters in Yeouido, the company showcased the new handset, equipped with the world’s first 2 gigabyte RAM. The handset will only be released in Korea, according to the firm’s mobile chief Park Jong-seok. The new LTE phone also carries the 1.5 gigahertz Snapdragon S4 processor.“The places actively promoting the LTE networks are currently North
May 17, 2012
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Hanwha E&C to sign $7 billion Iraqi housing project
Iraq will soon sign a $7 billion agreement with South Korea’s Hanwha Engineering & Construction Corp. to build 100,000 housing units in the country, the chairman of Iraq’s National Investment Commission said.“The signing will be final and the work will start after that, the value of the deal is more than $7 billion,” said Sami al-Araji in a telephone’s interview in Baghdad on Wednesday.The commission is also due to sign a contract with Bloom Properties, a United Arab Emirates-based real estate d
May 17, 2012
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LG unveils Google TV in U.S.
LG Electronics unveiled its first Google television during Internet Week in the U.S. with plans to showcase the product in retail chains later next week.The North American subsidiary of the country’s electronics giant is conducting live demonstrations of LG’s Google TV called G2 Series ― the first to run on the U.S. software giant’s upgraded Android 2.0 platform ― at an event in New York this week.“LG is excited to work with Google to bring Google services to TVs, making it easier for consumers
May 17, 2012
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STX mulls selling off assets to secure financial health
STX Group, the nation’s 14th-largest business group, said Thursday that it is considering selling assets to revive its worsening financial health amid the ongoing slowdown in the shipbuilding industry globally. “As part of our financial restructuring, we are discussing plans to directly list STX Energy and STX Heavy Industries or to sell off assets through the establishment of financial restructuring covenants with the Korea Development Bank,” the company said in response to an inquiry from the
May 17, 2012
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LG Display receives recognition for W-OLED technology
Executive of OLED Development Group gets bronze medal for technologyLG Display’s technology for making large organic light-emitting diode displays has been recognized ahead of Invention Day with one of its executives scheduled to win the bronze medal on Friday.The Korea Invention Promotion Association will give the industrial bronze medal to LG Display’s senior vice president Ahn Byung-chul of the OLED Development Group for coming up with the firm’s proprietary White-OLED technology for 55-inch
May 17, 2012
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Korea unveils new high-speed train
Traveling time from Seoul to Busan to be cut to one-and-a-half hours by 2015CHANGWON, South Gyeongsang Province ― Korea’s new high-speed train HEMU-430X showed its long, navy nose to the public for the first time in this southeastern city of Changwon on Wednesday. The faster and bigger successor to the KTX-Sancheon is the nation’s second bullet train developed with local technologies and its production has been carried out in the city by Hyundai Rotem, the train maker. The HEMU, short for High-s
May 17, 2012
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Hyundai Rotem signs $100m Ukraine train maintenance deal
Hyundai Rotem Co., a South Korean rolling stock manufacturer, said Wednesday it has reached a $100 million train maintenance service contract with Ukraine’s public railroad company.The deal with Ukraine Railway Speed Company, the operator of state-run Ukrainian Railways, calls for maintenance and repair work to be conducted on the 90 high speed inter-city trains built by Rotem for the country under an agreement sealed in late 2010. The electric-powered trains have a top speed of about 160 kilome
May 16, 2012
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Warm weather lifts camping gear sales
Local retailers are seeing a sharp rise in sales of camping gear such as tents, outdoor table sets and cookware thanks to the five-day school weeks and the early arrival of summer.All primary and secondary schools across the nation adopted the five-day school week starting in March, allowing a greater number of families to go on weekend camping trips.With the temperatures hitting near 30 degrees Celsius, major retailers have already begun special sales promotions for camping equipment, which the
May 16, 2012
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Hyosung chief calls for Korea-Japan FTA
Hyosung Group chairman Cho Suck-rai stressed that Korea and Japan should seek a comprehensive and high-level of bilateral trade liberalization.His remarks came during his keynote speech as the chief of the Korean delegation during the 44th annual gathering of Korea-Japan business leaders in Osaka, which kicked off Wednesday.“Like the members of the European Union, it would be better for us ― Asian countries ― to push for market integration,” Cho told participants. “For the success of the Asian m
May 16, 2012
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GS chief eyes innovation as growth engine
GS Group chairman Huh Chang-soo stressed the importance of workplace innovation at a group forum Wednesday, describing it as the conglomerate’s future growth engine.Huh said innovative efforts outside the office would be the key to the group’s development in the future. The GS Value Creation Forum was organized by the group to share the success stories of innovation among workers and executives at its affiliates.Huh also stressed the importance of the group’s human resources, saying they were se
May 16, 2012
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SK, Lotte vying for No. 1 in M&A market
Two powerful acquirers tender bids for both Hi-Mart, Woongjin CowaySK Group and Lotte Group are engaging in fierce competition to take over big enterprises in the mergers and acquisitions market.The groups’ units -- SK Networks and Lotte Shopping -- have submitted letters of intent for the bidding to take over Hi-Mart. They also tendered bids for Woongjin Coway.The participation of the nation’s third-largest and fifth-largest business groups in the two biddings is drawing wide attention in the m
May 16, 2012
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KT unveils content, solutions at IT fair
Firm determined to become global media content provider, eying live video streaming, cloud computingKT is showcasing the firm’s next generation media content and IT solutions at the COEX Convention Center as it is prepping to go beyond its role as one of the country’s three telecoms. The country’s biggest fixed-line service operator showed its commitment to futuristic media content at the four-day World IT Show with an array of services such as video content service Ustream and the paperless wo
May 16, 2012
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COEX mall to undergo two-year renovation
The Korea International Trade Association said Tuesday that the COEX mall would undergo a large-scale renovation by November 2014, the first since it was established in 2000. Under the new plan, the largest underground shopping mall in Asia is expected to be expanded by 10 percent and have more environmentally friendly, energy-efficient features to reduce energy consumption by 25 percent.Adding to the current 182,675-square-meter mall, the KITA plans to develop a 6,600-square-meter underground a
May 15, 2012
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SK, Danish company in partnership for environment-friendly energy
SK Group announced on Tuesday that it signed a memorandum of understanding on Monday with Topsoe Fuel Cell, a Danish fuel cell company, to develop and commercialize solid oxide fuel cells as a future energy source. Higher in efficiency than previous types of generators, the SOFCs are the rising energy source for future generations, SK Group said. A SOFC generates electricity through the electrochemical reaction of liquefied natural gas, diesel and biogas. The energy conglomerate said that the SO
May 15, 2012
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LG’s new quad-core smartphone to debut in Europe next month
LG Electronics announced Tuesday it will roll out its new quad-core smartphone named Optimus 4X HD in Europe next month to compete with its rival Samsung Electronics’ Galaxy S3.Beginning its launch in Germany in June, the firm said it will release the 4.7-inch display smartphone in other European nations such as Sweden, the U.K., Italy and Poland.It will then expand to other regions including Asia, the Commonwealth of Independent States and Latin America, said LG officials. Running on Google’s l
May 15, 2012
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LSIS aims to expand presence in global green car market
LS Industrial Systems Co. celebrated the completion of the nation’s first production line dedicated to manufacturing EV Relay, a key component of eco-friendly cars, on Tuesday in Cheongju, North Chungcheong Province. While three companies ― LSIS, Tyco of the U.S. and Panasonic of Japan ― are dominating the global EV Relay market, the Korean firm is aiming to become the top player with the new facility, officials said. EV Relay supplies or cuts battery power to electric cars. Amid a promising out
May 15, 2012
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Korea may have to stop Iran oil imports
The Seoul government is bracing for a possible halt in imports of Iranian crude oil following tightened sanctions by the European Union.The EU enacted rules in March to stop insurance coverage on all tankers carrying Iranian crude oil starting July 1 as part of sanctions on the Middle Eastern country to make it give up its nuclear program. The Korean government belatedly found out about the measure and only recently began pushing for negotiations with the EU to extend the insurance coverage.Crud
May 15, 2012