Articles by Choi He-suk
Choi He-suk
cheesuk@heraldcorp.com-
GS Caltex extends retirement, adopts peak salary system
The country’s second largest refiner GS Caltex Co. announced Tuesday that it will raise the retirement age by two years and apply peak salary system from next year.Under the agreement GS Caltex reached with its labor union last month, the retirement age will be raised from 58 to 60 years of age from Jan. 1, 2012. With the peak salary system taking effect on the same date, the base pay for workers
Industry May 17, 2011
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SMEs create more jobs than big firms
The number of people working at small- and medium-sized enterprises increased by 3.47 million between 1999 and 2009, industry data showed Sunday.Under local regulations, SMEs are defined as companies with less than 1,000 employees and total assets less than 500 billion won ($458 million), and companies that meet the requirements but are affiliated to large companies are excluded from the category.
Industry May 16, 2011
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Samsung Heavy filed for 1,099 patents in 2010
Samsung Heavy Industries Co. applied for 1,099 patents last year, industry sources said Friday.The company is the first in the industry to have applied for more than 1,000 patents in one year.During the same period, the world’s largest shipbuilder Hyundai Heavy Industries Co. applied for 844 patents, while Daewoo Shipbuilding and Marine Engineering Co. made 665 patent applications. According to in
Industry May 13, 2011
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Korean Air wins award for in-flight meals
Korean Air announced Friday that it received the top prize for in-flight meals in the 2011 World Traveller Awards.Organized by China’s largest travel magazine World Traveller, the annual event awards carriers that operate routes to China in 10 categories including in-flight meals.Korean Air said that it was selected for the award for its efforts in raising the quality and diversity of in-flight me
Industry May 13, 2011
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BOK needs power to supervise banks: chief
The Bank of Korea should be given rights to supervise financial institutions independent of other financial authorities, BOK Governor Kim Choong-soo said Friday.Speaking after the monthly rate review meeting, Kim said that the central bank should be able to conduct independent supervision under “special circumstances.”“(The BOK) means to conduct (independent investigations) when a particular finan
May 13, 2011
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Plan to relocate LH Corp. to Jinju faces backlash
Opposition slams decision as politically motivated; Jeonju to get pension service insteadJinju in South Gyeongsang Province has been selected as the sole location of the state-run Land and Housing Corp., the Ministry of Land, Transport and Maritime Affairs announced Friday.The government had considered distributing the LH Corp. between Jinju and Jeonju in North Jeolla Province.The decision will be
May 13, 2011
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KTX-II train examined due to structural fault: sources
One of the 19 KTX-Sancheon high-speed trains has been pulled off line as the system is now under examination by the manufacturer due to a serious structural fault, sources said Wednesday. KTX-Sancheon, or KTX-II, is the first high-speed train produced with locally developed technology that went into service early last year. The train has been in the spotlight in recent months due to frequent break
Industry May 11, 2011
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Ministry sets area of new park in Yongsan
The Ministry of Land, Transport and Maritime Affairs on Wednesday designated 2.43 square kilometers of the land currently occupied by the U.S. Army’s Yongsan Garrison to be converted into a park.Central government agencies and the Seoul city government have been reviewing plans to convert the land occupied by the Yongsan Garrison into a park since 2008 once control of the land is returned to the K
May 11, 2011
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Event to bring massive economic benefits for Korea
The International Exposition Yeosu Korea 2012 that will open its doors to visitors on May 12, 2012, is expected to bring more than visitors to South Korea.According to the organizing committee for Expo 2012 Yeosu Korea and local think-tanks, the cost of building the facilities and operating them for the three-month event will be about 2.1 trillion won ($1.9 billion).While significant, the figure i
Industry May 11, 2011
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Lee Kun-hee names new chief secretary
Samsung C&T Corp.’s executive vice president Park Pil was appointed as the head of Samsung Electronics chairman Lee Kun-hee’s assistant team on May 1.Operating under the chief of Samsung’s corporate strategy office, the head of the chairman’s assistance team is widely considered to be an important step on the way to key posts within Samsung Group.Although the team acts as the chairman’s assistance
Industry May 11, 2011
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Expo packed with cultural events
The main theme of the upcoming International Exposition Yeosu Korea 2012 is “Living Ocean and Coast,” and as such its focus will be on issues related to marine development.However, organizers also have a host of cultural events to entertain visitors.During the 93-day expo, more than 3,200 performances and other cultural events will take place within the grounds.The performances and events planned
Industry May 11, 2011
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Yeosu Expo to present future of marine development
Organizing committee steps up efforts for flawless Exposition opening next MayThe International Exposition Yeosu Korea 2012 is now a year away from its opening and its organizers are stepping up the efforts to bring preparations to a smooth close. The event, held under the theme “Living Ocean and Coast” will be held in Yeosu, South Jeolla Province from May 12 to Aug. 12.According to the Expo organ
Industry May 11, 2011
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S. Korea's PyeongChang recieves favorable evaluation from IOC
PyeongChang, a South Korean town bidding to host the 2018 Winter Olympics, received a largely positive assessment from the International Olympic Committee (IOC)Tuesday, with a little less than two months before the host city is to be decided.In a report published by its Evaluation Commission, the IOC said PyeongChang, located about 180 kilometers east of Seoul, could leave a new legacy in Asian sp
More Sports May 10, 2011
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Yeosu Expo kicks off celebrations
Prime minister to visit the port city to drum up supportEvents marking the start of the 365-day run up to the International Exposition Yeosu Korea 2012 kicked off Tuesday with a concert and celebrations in Yeosu, South Jeolla Province.The three-month expo will be held at the southern port city from May 12, 2012 until Aug. 12. The upcoming expo is the second international exposition held in Korea,
Industry May 10, 2011
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EU firms pledge $510m investment in Korea
Investment focuses on renewable energy and material industriesFive EU-based companies pledged to invest $510 million in Korea, the Ministry of Knowledge Economy announced Tuesday.The pledges ― two memoranda of understanding and three notifications of investment ― were made at an event held in Berlin attended by Minister of Knowledge Economy Choi Joong-kyung.The two memoranda of understanding were
Industry May 10, 2011
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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