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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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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Korea still weak on resources: SERI
Korea’s resource developers should boost investment and productivity to ensure stable energy supplies and better cope with price swings, a think tank warned. Despite a recent upsurge in investment by state-run utilities and trading firms, their competitiveness remains weak compared to with their international peers due to a lack of technological knowhow and experience and passive risk taking, Samsung Economic Research Institute said in a report released last week.“Korea is in urgent need of its
April 22, 2012
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EN Technologies aims to grow into global power equipment maker
Samsung, LG-invested tech company eyes IPO, joint venturesGoing global may not be an easy task for a small company, but EN Technologies, a Korean electric power equipment and parts developer, wants to prove that nothing is impossible for a venture tech firm like itself.“My goal, at a personal level, is to show that even a venture firm in Korea can truly become a global enterprise like U.S. companies that started out as start-ups in Silicon Valley,” CEO and founder Tay Lee said in an interview wi
April 20, 2012
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Samsung pushes ahead with Apple patent suits
Korean company files eight more patent infringement suits in CaliforniaSamsung Electronics said Friday it filed another suit against its rival Apple Inc. at a Californian court this week, requesting that the U.S. firm stop selling the new iPad, Mac laptop and Apple TV.The Korean IT behemoth has filed eight different patent infringement cases against Apple, seen as a move taken to fight Apple’s U.S. federal lawsuit against Samsung earlier in February.The lawsuits included Samsung’s claims that A
April 20, 2012
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Samsung Total’s entry draws mixed responses
The entry of Samsung Total Petrochemicals into the country’s retail petrol market is stirring up mixed responses, according to industry sources on Friday.Although some say it will have limited impact in the industry in the short term, it is expected to facilitate Samsung’s entry into the nation’s tightly-controlled petroleum market, currently dominated by four big industrial names ― SK, GS, Hyundai and S-Oil, the sources said.“The level of impact will be insignificant at first because of its sma
April 20, 2012
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Korea to ban online collection of resident numbers
Companies can face fines up to 1 percent of revenue for data leaksResident registration numbers will no longer be requested by websites and companies as the government announced Friday measures for better data protection. The online sector will be first banned from collecting resident registration numbers from as early as August, followed by public organizations and private companies in phases. The Korea Communications Commission, the Ministry of Public Administration and Security and the Financ
April 20, 2012
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LG Chem posts W5.75tr in sale in Q1
LG Chem on Thursday posted 5.75 trillion won ($5.05 billion) in sales and 459 billion won in operating profit for the first quarter, indicating that the slowing demand in China has contributed to the loss of sales.The firm said its sales grew 2.8 percent compared to the final quarter of last year, but its operating profit figure was down 8.2 percent during the same period.However, its net profit during January to March amounted to 380 billion won, a slight rise of 1 percent compared to the previ
April 19, 2012
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Retail chains to open earlier
South Korea’s large retail chains are starting their business earlier to minimize the expected decline in revenues due to the new regulations that govern business hours. Homeplus, one of the biggest retail chains here, said it has adjusted the opening time from 10 a.m. to 9 a.m. for its 22 branches across the nation.Other retailers such as Emart and Lotte Mart are reportedly moving in the same direction, starting their business 30 minutes or 1 hour earlier. The move came as the retailers face a
April 19, 2012
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SKT named best telecom in Asia
SK Telecom was named Asia’s best mobile carrier at the Telecom Asia Awards in Bangkok on Wednesday. Its quick adoption of the fourth-generation Long Term Evolution network service was among the attributes that garnered positive reviews, the nation’s top telecom company said. SKT, which started the high-speed mobile service first in Korea in July, saw its LTE user number surpass the 1 million mark in Jan. 31, faster than in other countries, the company said. The company’s other unique technologie
April 19, 2012
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DSME’s new CEO stresses communication
Daewoo Shipbuilding and Marine Engineering Co.’s new chief executive Ko Jae-ho has been emphasizing substance in business and better communication with employees since taking office early this month. Ko recently paid a visit to the company’s shipyard in Okpo on the southern island of Geoje to observe the ongoing construction of the CLOV floating production storage and offloading unit.Daewoo Shipbuilding won the CLOV FPSO order worth 2.15 trillion won ($1.88 billion) from French oil and gas compa
April 19, 2012
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Korea is laboratory for big data analytics: professor
Companies that better analyze today’s soaring amount of data, not those with the ownership, will be the big winners in this era of big data, a global analyst said in Seoul on Thursday. Korea, in particular, has great potential to lead other countries in data analytics, according to Thomas Davenport, professor at Babson College, who is visiting here to attend the Entrue World 2012 conference.“It’s a real opportunity to analyze all the mobile phone data that is being accumulated in Korea. The nati
April 19, 2012
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Project back on track to make Yeosu oil hub of Northeast Asia
KNOC pushing to build another oil storage facility in UlsanThe Korea National Oil Corporation’s ambitious scheme to develop Yeosu, South Jeolla Province into an oil hub of Northeast Asia comparable to Europe’s ARA (Amsterdam, Rotterdam and Antwerp) and Singapore’s Jurong Island has finally begun to proceed smoothly.An oil tank terminal with a capacity to store 8.2 million barrels of crude oil and petroleum products is under construction in Yeosu. Oil Hub Korea Yeosu, a subsidiary of the KNOC,
April 19, 2012
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Advanced analytics will create new paradigm: LG CNS chief
LG CNS chief executive Kim Dae-hoon said Thursday advanced analytics is rising as a new paradigm that offers insight and understanding, with “intelligence” becoming the keyword in this smart era.“There were other analytics in the past but advanced analytics is differentiated from others because it finds what’s meaningful in various piles of data, which helps people understand the situation more quickly and make forecasts, while getting the insights,” he said during his keynote speech at its conf
April 19, 2012
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LG CNS focuses on ‘big data’ era
Rising use of Internet, gadgets signal big change for local businessesThe era of big data has arrived with the wide use of Internet-connected and wireless devices, signaling a major change in the way local companies work and manage information.In line with the shift, LG CNS, a total information technology service firm, on Thursday held Entrue World 2012, a conference focusing on the big data era.Themed “New frontier of the smart world: Advanced analytics,” the company invited global analyst Thom
April 19, 2012
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Surveillance tightened on online racist comments
The Korea Communications Standards Commission said Tuesday that it will tighten its online surveillance on Internet posts that contain comments related to racism, xenophobia and other forms of intolerance. The move came amid a flood of angry posts aimed at migrant workers following the rape and murder case involving a Korean-Chinese man in Suwon, Gyeonggi Province, early this month More recently, there have also been a slew of racist comments targeted at Jasmine Lee, a naturalized woman from the
April 18, 2012
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Samsung, Apple to meet for patent talks
Samsung agrees to meet 90-day deadline for talks in the U.S.Samsung Electronics confirmed Wednesday that its vice chairman Choi Gee-sung will meet with Apple’s chief executive Tim Cook to discuss matters on their ongoing patent disputes in nine different nations.“We decided to work together on reaching a compromise with Apple by arranging a meeting of chief executives, along with the firms’ legal representatives within 90 days in response to a court’s order,” said a Samsung official.The official
April 18, 2012
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Samsung, LG cleared of U.S. dumping charge
WASHINGTON (Yonhap News) ― The U.S. government on Tuesday ruled in favor of South Korea’s major refrigerator makers, Samsung and LG, in an anti-dumping case against their American rival, Whirlpool.The U.S. International Trade Commission said the U.S. industry has not been harmed by imports of bottom-mount combination refrigerator-freezers made in Samsung and LG factories in South Korea and Mexico.The ITC said in a press release that it “determined that a U.S. industry is not materially injured o
April 18, 2012
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Hyundai Steel to boost export to Southeast Asia
Hyundai Steel will boost its exports to Indonesia to 340,000 metric tons of hot-rolled steel annually, its press release said.This comes as Hyundai Steel signed a memorandum of understanding to supply its steel to PT Essar Indonesia in the region where the Korean steel-maker also has two other customers, its spokesperson said. Essar is the largest cold-rolled steel producer in Indonesia, according to media reports. Hot-rolled steel is produced through traditional blast furnaces that can later be
April 18, 2012
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GS chairman Huh focuses on corporate citizenship efforts
GS Group chairman Huh Chang-soo on Wednesday emphasized the corporation’s role in promoting fair competition and corporate citizenship to build public trust and attain sustainable growth.He pledged to scale up the Korean conglomerate’s social contribution programs and foster co-prosperity with its smaller suppliers and subcontractors.“Being accepted as a respectable corporate citizen is as critical as running a successful business,” Huh said in a meeting with executives in Seoul. “That’s what we
April 18, 2012
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Samsung to hire 600 more disabled workers
Samsung Group said Wednesday that it will hire an additional 600 disabled people this year, adding to its group of 3,300.This year is the second consecutive one in which the country’s top conglomerate is openly recruiting those with disabilities, according to its chief communications officer Rhee In-yong.“We have employed a total of 3,300 people with disabilities as of March, reaching 1.6 percent of all employees, but we will continue the effort to meet the government’s legal recommendation of 2
April 18, 2012
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Blacklist system draws mixed outlook for success
Watchdog predicts cuts in smartphone prices; companies see very limited impact The Korea Communications Commission plans to implement the so-called “blacklist system” in May, which officials predict could drastically transform the nation’s distribution structure for handsets. Currently, telecom companies register an International Mobile Equipment Identity number to activate the service of all new phones they sell, called the “whitelist system.”Under the new plan, however, all cell phones will be
April 18, 2012