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The Korea Herald > Business

Volkswagen rules out compensation to S. Korean owners over emissions scandal

German carmaker Volkswagen on Wednesday ruled out compensations to South Korean owners of Volkswagen cars for cheating on emissions, a move that could spark anger and disappointment from local consumers.Volkswagen said its agreements reached with the U.S. regulators and private plaintiffs ...

Updated : 2016.06.29 21:21

S. Korea to not allow Google to use maps unless sensitive areas blurred out

South Korea will not give Google a license to use South Korean maps unless the company blurs out sensitive military installations on its mapping service, Defense Minister Han Min-koo said Wednesday.Earlier this month, the United States search engine provider requested permission from the M...

Updated : 2016.06.29 21:15

[Graphic News] Female job quality remains low

The job quality of Korean women still remains low compared to their male counterparts, although the female employment rate edged up slightly last year, data showed Monday.Statistics Korea said in its ...

Updated : 2016.06.29 18:26

Korean, British, EU diplomats hold talks on Brexit

Senior diplomats of Korea, Britain and the European Union held talks Wednesday to coordinate their response to Britain's decision to leave the EU.The three-way meeting came as Seoul has been taking me...

Updated : 2016.06.29 17:48

VW has no plans to compensate Korean consumers

[THE INVESTOR] With German automaker Volkswagen AG deciding to pay US owners of defective vehicles as much as US$ 10,000 per car, Korean consumers are furious over the lack of similar compensation mea...

Updated : 2016.06.29 17:46

Korea Consumer Agency urges recall of Ikea’s dresser

[THE INVESTOR] The Korea Consumer Agency said on June 29 that it has requested a recall of Ikea’s drawer that killed six children in the US.The advocacy group sent an official letter to the world’s ...

Updated : 2016.06.29 17:34

State-run energy firms to sell off loss-making overseas assets

Korea's state-run energy firms will offload their loss-making overseas assets to improve their balance sheets in the midst of low oil prices as the government pushes for sweeping restructuring and dow...

Updated : 2016.06.29 17:07

Prosecutors to summon ex-VW Korea chief on July 5

[THE INVESTOR] Prosecutors will summon Park Dong-hoon, former head of Audi Volkswagen Korea, on July 5, to question him over the automaker’s emission scandal. Seoul’s Central District Prosecutor’s ...

Updated : 2016.06.29 16:51

New tech complex to be built in Ilsan by 2020

[THE INVESTOR] Gyeonggi Province on June 29 announced the construction of a new tech complex, tentatively called “North Gyeonggi Techno Valley,” in Ilsan, Goyang City, to attract some 1,900 tech com...

Updated : 2016.06.29 16:47

[Herald Interview] Busan-Jinhae FEZ closer to becoming global business hub

Once a wasteland, the Busan-Jinhae Free Economic Zone in South Gyeongsang Province is now closer to its goal of becoming a global business and logistics hub, a top official said.With a land area of 51...

Updated : 2016.06.29 16:20

Brexit sparks concerns for Korean biopharma exporters

Brexit could become a headache for export-driven South Korean biopharmaceutical companies as they may be required to go through separate processes to obtain sales approvals and handle litigation iss...

Updated : 2016.06.29 16:17

Busan-Ulsan KEPCO vows regional development

Ha Hee-bong, the vice president of the Busan-Ulsan District Division of the state-run Korea Electric Power Corp., recently spoke to The Korea Herald about the local office’s plans on future managemen...

Updated : 2016.06.29 16:15

[DECODED:NAVER] Naver, the new king of journalism

[THE INVESTOR] In the years since its foundation, Naver has become far more than a search engine. It has grown into a giant that dominates Korea’s online services. Naver portal’s news service -- whi...

Updated : 2016.06.29 16:10

Korean foreign minister calls for closer economic ties with Latin America

South Korea's foreign minister on Wednesday called for closer economic cooperation with Latin American countries, saying distance is no longer an issue in the modern era.Yun Byung-se made the remarks ...

Updated : 2016.06.29 16:08

[Newsmaker] Korea’s vice president of AIIB taking leave

Hong Kyttack, the Korean vice president of the Asian Infrastructure Investment Bank since February, has taken a six-month leave of absence from the Beijing-based institution amid a scandal back home s...

Updated : 2016.06.29 16:05