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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KIBWA gets new president
Kim Hyun-joo, chief executive of Sandeul Information and Technology Co., took office as the fifth president of the Korea IT Business Women’s Association on Wednesday.Kim succeeded Kang Eun-hee who was elected last week as lawmaker of the ruling Saenuri Party.The KIBWA congress unanimously voted for Kim, who has led the association’s Daegu-North Gyeongsang branch since 2008, as the new president.Kim has contributed to creating jobs in IT companies run by women and supported start-up businesses in
April 18, 2012
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Apple, Samsung chiefs to meet on patent disputes
The chiefs of iPhone-maker Apple and smartphone giant Samsung have agreed to meet in the coming months to try to resolve patent disputes before the matters go to trial, legal filings showed.At the behest of a San Francisco federal court, Apple boss Tim Cook and Samsung chief Gee-Sung Choi will take part in settlement talks presided over by a judge, according to filings posted online at Foss Patent
April 18, 2012
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Tesco China to have first Korean executive
Homeplus, the nation’s No. 2 discount chain store, said Tuesday that its financial planning and reporting director Christopher Kim has joined Tesco China as a finance executive.Since entering Homeplus in 2002, Kim has served in several positions, managing the company’s performance and developing its mid- and long-term business plans. Kim, who will be serving the job of finance director, is the first Korean executive officer to work at the Chinese operation of the U.K. retail giant, the company s
April 17, 2012
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Hyundai Heavy wins $120 million in orders for construction equipment
Hyundai Heavy Industries has grabbed $120 million worth of orders for earth-moving equipment at a trade fair in Europe, the world’s largest shipbuilder said Tuesday.In the deals, the Korean firm will supply 1,050 excavators and 450 wheel loaders to companies from around the world. But the number and nationality of its clients are unclear because some of the contracts were signed through agents, a company spokesperson said. The orders came while the shipbuilder is taking part in the Intermat 2012
April 17, 2012
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New iPad to arrive in Korea this week
Apple said Monday that it will roll out the new iPad tablet computer in Korea on Friday but the fourth-generation Long Term Evolution service won’t be supported here. The California-based tech giant said in a press release that the latest iPad will be launched in 12 countries, including Korea, following the first batch released last month in the U.S. and nine other countries. The new retina display iPad will not offer the super-speed LTE service in Korea that it does in most other countries, sin
April 17, 2012
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LG Display opens new R&D center in Paju
CEO vows to turn Paju R&D into high-tech display meccaLG Display announced Tuesday that it opened a research and development center which would focus on developing next-generation display panels, including the organic light-emitting diode displays, in Paju, Gyeonggi Province.Built on 68,572 square meters of land, the 15-story building will bring together researchers and developers as well as those involved in OLED projects for better performance, according to company officials.According to an LG
April 17, 2012
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FTC to penalize North Face for flouting fair trade rules
South Korea’s trade watchdog is set to take punitive measures against outdoor brand The North Face Korea for engaging in unfair practices. The Fair Trade Commission is planning to review the issue concerning the American brand and decide the penalty fee. The key charge against The North Face is that it violated fair trade rules by pushing department stores and other sales outlets to keep the prices set by the company, keeping them artificially high. “The North Face forced department stores and s
April 17, 2012
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Fast-fashion brands lead transition in Korea’s clothing retail industry
Before sunrise on March 8 in Myeong-dong, one of Seoul’s top shopping districts, dozens of people lined up in front of an H&M store. Some had spent the night on the street. They were waiting to get limited edition clothing from a collaboration between H&M’s specialty retailer and premium brand Marni. Freezing weather was not their first concern. The “Marni at H&M” edition went on sale that day globally and were sold out in Korea a few hours after the store opened. According to the companies, Ko
April 17, 2012
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Lotte Group to acutely raise exec wages
Lotte Group, the fifth-largest conglomerate in South Korea, said it will raise wages for its executives sharply this year, demonstrating its intention to catch up with other chaebol groups in pay levels. “The group’s overall earnings turned out to be better than expected, which has been reflected in the increase in annual compensation for employees,” the group said, without giving specific rates. But people familiar with Lotte’s move said the increase rate would be 10-15 percent this year, a lev
April 17, 2012
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More firms pressure staff to stop smoking
Cigarette smokers penalized as anti-smoking efforts intensify across all industriesA number of companies are going beyond the usual anti-smoking campaign to put smokers at a disadvantage for promotions or perks. Samsung Electronics Co. recently joined in taking this strong-handed approach, signaling similar moves in other large firms.The electronics giant sent out an e-mail to its 35,000 employees in the device solution division on Friday, warning that smoking will be detrimental to their chance
April 17, 2012
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Samsung chief blasts inheritance claims
Samsung Electronics chairman Lee Kun-hee said Tuesday he will not back down in the inheritance battle with his siblings, vowing that he will even take it to the Constitutional Court.“If they file suits against me, I will take the same actions and I am even thinking of going to the Constitutional Court, taking it a step further than the Supreme Court,” he said. “I have no intention of giving them any money.”Indicating that the property-sharing already took place between the siblings, CJ Group has
April 17, 2012
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Samsung's Lee stands firm on inheritance lawsuits
Lee Kun-hee, South Korea's richest man and owner of top conglomerate Samsung Group, pledged Tuesday to fight back with tough legal action against the lawsuits filed by his elder siblings over inheritance."The inheritance issue has already been settled by the late group founder, and everyone was given a share," Lee Kun-hee told reporters on his way to work. "For now, I will not give up a penny.I wi
April 17, 2012
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Korean firms will cut fine figure at IFA show: organizing executive
DUBROVNIK, Croatia ― More Korean firms plan to flex their muscles at the upcoming consumer electronics trade show in Berlin with Samsung Electronics already confirmed to have the largest display space, said a key executive of the organizing body on Saturday.“We will have more Korean firms but no area expansion,” Jens Heithecker, global executive director and vice president of Messe Berlin Group, said in an interview with the Korean press. “They already have the largest display space and it’s big
April 16, 2012
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KHNP chief resigns over safety of nuclear plants
Korea Hydro & Nuclear Power Co. chief executive Kim Jong-shin stepped down on Monday amid simmering criticism over recent power outages and cover-up attempts an atomic plant. His resignation will be accepted by Cheong Wa Dae and the selection process for his successor will be under way soon, Knowledge Economy Minister Hong Suk-woo said. “I’ll try naming his successor quickly so as not to create a vacuum in the company’s operations,” Hong told reporters at a meeting. The country’s sole nuclear pl
April 16, 2012
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KT&G market share grows 4.8% in Q1
KT&G Corp. posted growth of 4.8 percent in its market share during the first quarter, a record-high over the past decade.The local company captured 62.1 percent of the nation’s tobacco market in the first quarter, compared to 57.3 percent in the fourth quarter of last year.The figure of 4.8 percent is the highest in 14 years since KT&G posted 6.4 percent growth during the first quarter of 1998, when Korea was hit by the Asian financial crisis.The company sold about 633.2 million packs in the fir
April 16, 2012
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Farmers’ guild seek to boost ...bokbunja food, beverages exports
Farmers in North Jeolla Province are stepping up efforts to spur exports of food and beverages made with “bokbunja,” a wild blackberry indigenous to the region, to carve out a niche market and foster the local economy.The Jebba Food & Beverages Corp. was launched in early 2011 to spearhead their campaign, representing bokbunja growers in Gochang, Sunchang and Jeongeup in the country’s southwest. The wild fruit has been a major part of the region’s agriculture since its residents first started cu
April 16, 2012
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Korea vows to play leading role in global trade flow
Customs chief says Authorized Economic Operator program will boost national competitivenessKorea’s top customs official said the nation will play a leading role in spreading the new trade initiative of the Authorized Economic Operator program and encourage countries to seek mutual partnerships for better efficient customs procedures.Korea Customs Service Commissioner Joo Yung-sup revealed the plan during an interview with The Korea Herald ahead of the opening of the first global conference on th
April 16, 2012
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Customs leaders to seek partnership at Seoul AEO conference
The WCO Global AEO Conference will begin its three-day run on Tuesday at Sheraton Walkerhill Hotel in Seoul, jointly hosted by the Korea Customs Service and the World Customs Organization. It will be the largest-ever gathering on the Authorized Economic Operator program, with some 800 guests including WCO secretary general Kunio Mikuriya in attendance. Since the 9/11 terrorist attack in 2001, the global customs administration has focused on balancing the AEO’s two main goals: improving the effic
April 16, 2012
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Bokbunja gains popularity for potential health, beauty benefits
Bokbunja, a Korean wild black raspberry, has for decades been widely consumed by local residents around the country. Its popularity has been increasing in recent years due to its supposed antioxidant, anticancer and beauty effects. The market for bokbunja-based food and beverages has grown nearly five-fold in seven years to about 200 billion won last year, according to the Jebba Food & Beverages Corp., a guild of bokbunja growers in North Jeolla Province. The fruit contains four times as much an
April 16, 2012
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Another cover-up attempt suspected at nuke plant
The emergency power generator at a nuclear power plant in Yeonggwang, South Jeolla Province was found to have malfunctioned during a special checkup last month, stoking controversy over another possible attempted cover-up.The diesel power generator at the Yeonggwang-2 unit stopped a minute and 14 seconds after it was manually started for an examination on March 28, and the governor of Yeonggwang knew about it but did not report it to the public or nongovernmental watchdogs.This comes after autho
April 15, 2012