Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Seoul shares almost flat in late-morning trade
South Korean stocks traded nearly unchanged late Friday morning, as bearish tech stocks capped gains in foodmakers and oil refiners, analysts said. The benchmark Korea Composite Stock Price Index inched down 1.14 points, or 0.05 percent, to move at 2,163.50 as of 11:20 a.m.Tech giant Samsung Electronics retreated 0.8 percent, with chipmaker SK hynix falling 1.6 percent. In contrast, shares of Shinsegae Food soared more than 3 percent, with oil refiner S-Oil rising 2 percent. The local currency w
March 31, 2017
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Korea, India hold meeting to expand economic cooperation
South Korea's finance ministry said Friday that it held a meeting with its Indian counterpart and discussed ways to bolster bilateral economic and financial cooperation.At the working-level talks in New Delhi on Thursday, South Korea and India agreed to work launching the $10 billion Seoul-New Delhi financial program in the near future, according to the Ministry of Strategy and Finance.(123RF)In a summit in 2015, heads of the two countries reached an agreement on the program, aimed at helping de
March 31, 2017
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Export-Import Bank of Korea suffers first loss in 2016
The Export-Import Bank of Korea, one of South Korea's state-run policy banks, suffered a net loss of 1.46 trillion won ($1.3 billion) last year, hit by higher provisions against its loans extended to the country's ailing shipbuilding industry. It was the first time that the bank reported an annual net loss since its foundation in 1976, according to the bank's audit report posted on its website Friday.(Yonhap)The bank reported a net profit of 41.1 billion won in 2015, the report showed. The bank
March 31, 2017
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Galaxy S8 may ship with Google's AI program
An artificial program promoted by Google Inc. may ship with Samsung Electronics Co.'s latest smartphone, the Galaxy S8, that will come with the tech giants own Bixby voice support program, the industry sources said Friday.According to the sources, the Galaxy S8, which runs on the Android 7.0 Nougat operating system, will likely have the Google Assistant program, which has similar features to Bixby.(Yonhap)Bixby is seen as one of the key features of the Galaxy S8 that was unveiled earlier in the
IndustryMarch 31, 2017
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Mercedes-Benz, Maserati, Peugeot ordered to recall faulty parts
Mercedes-Benz, Maserati and Peugeot have been ordered to recall faulty parts in some of their models, South Korea's transport ministry said Friday. This is part of a broader recall order recently delivered by the Ministry of Land, Infrastructure and Transport in the South Korean automobile market. (Yonhap)Local customers increasingly choose imported brands over homegrown ones, such as Hyundai Motor Co. and Kia Motors Corp., due to declining prices and difference in performance and quality.Merced
MobilityMarch 31, 2017
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Samsung set to announce Q1 earnings guidance next week
Samsung Electronics Co., set to announce its first-quarter earnings guidance next week, may report forecast-beating performance results largely backed by its chip business, industry sources said Friday.Although the tech giant announces detailed figures of each business later in the month, Samsung's chip business is presumed to be the top contributor for its stellar performance. they said.(Yonhap)Some brokerage houses here expect Samsung's first-quarter operating profit to hover above its previou
IndustryMarch 31, 2017
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LS Cable & System to acquire US power cable plant
LS Cable & System said Thursday it will buy a power plant located in North Carolina from LS Corporation's subsidiary Superior Essex with an investment of $24.6 million.“As Superior Essex has less experience in power cable business, it would be more efficient for LS Cable & System to acquire and operate the unit,” said Myung Roe-Hyun, chief of LS Cable & System in the company’s statement.(Yonhap)“By securing the business base in the US, LS Cable & System is also expected to prepare for the US pro
IndustryMarch 31, 2017
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Daewoo Shipbuilding labor union pressed to present written pledge for 'no strike'
Creditors of cash-strapped Daewoo Shipbuilding & Marine Engineering Co. have asked the shipyard's labor union to submit a written pledge not to launch any strikes in protest over bold restructuring moves, industry sources said Friday.The creditors, led by the state-run Korea Development Bank, demanded that the union present the written pledge by the end of next week, which they see as leverage to pressure corporate bondholders and commercial lenders to join a 6.7 trillion won ($5.98 billion) res
IndustryMarch 31, 2017
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Samsung kicks off marketing drive for Galaxy S8 in Korea
Samsung Electronics Co. started a full-fledged marketing drive for its latest flagship smartphone, the Galaxy S8, in South Korea, industry watchers said Friday, ahead of the official release slated for April 21.Samsung already started displaying the Galaxy S8 and the Galaxy S8 Plus at its main shop located in southern Seoul on Thursday, allowing visitors to experience firsthand the top-notch features and cutting-edge design that has received positive initial reviews from home and abroad.(Yonhap)
IndustryMarch 31, 2017
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KRX exports stock IT system to 8 nations
The South Korean stock market operator said Friday it has exported its advanced IT system for stock trading to Malaysia and seven other countries over the past decade, earning more than 80 billion won ($71.6 million).Starting with the establishment of a bond trading system in Malaysia in 2007, the Korea Exchange has exported 14 IT systems related to the stock market to the eight countries, mostly in Southeast Asia.(Yonhap)In 2011, the KRX set up a joint stock exchange in Laos in partnership with
March 31, 2017
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Seoul shares open tad higher on steelmaker, auto gains
South Korean stocks opened slightly higher Friday, buoyed by strong blue chip steelmakers and automobiles, analysts said. The benchmark Korea Composite Stock Price Indexticked up 0.78 point, or 0.04 percent, to trade at 2,165.42 in the first 15 minutes of trading. POSCO, the country's leading steelmaker, jumped nearly 2 percent, after it released a better-than-expected earnings guidance for the first quarter Thursday. No. 1 automaker Hyundai Motor was also up almost 1 percent, with its auto part
March 31, 2017
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Artificial intelligence gains momentum among IT companies
Artificial intelligence, for the past few decades, used to be a staple of science fiction films in which a future was depicted as being full of robots that are as smart as humans. In "A.I. Artificial Intelligence," directed by Steven Spielberg and released in 2001, a robotic boy even dreams of becoming "real" so he can gain the love of his human parents.Now, AI and cybernetics are moving beyond the realm of fiction and are penetrating deeper into our everyday lives. Without realizing it, AI has
TechnologyMarch 31, 2017
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Korea's industrial output shoots up 6.6% in Feb.
South Korea's industrial output jumped at the fastest pace in nearly four years in February, government data showed Friday.Production in the mining, manufacturing, gas and electricity industries moved up 6.6 percent last month from a year earlier, marking the highest on-year gain since January 2013, when it posted a 9 percent rise, according to the data by Statistics Korea.(Yonhap)From a month earlier, however, the figure fell 3.4 percent on a sharp drop in chips and cars, backtracking from a 2.
IndustryMarch 31, 2017
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Korea's seaport cargo up 3.7% through Feb.
Cargo processed at South Korean seaports rose slightly in the first two months of the year from a year earlier amid a steady increase in exports, government data showed Friday.Cargo handled at the country's seaports came to 252.25 million tons in the January-February period, up 3.7 percent from 242.31 million tons tallied a year earlier, according to the data by the Ministry of Oceans and Fisheries.(Yonhap)Non-container cargo rose 3.7 percent on-year to 181.37 million tons over the two-month per
IndustryMarch 31, 2017
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US imposes 11.7% duty on steel plate imports from Posco
The US Department of Commerce decided Thursday to impose an 11.7 percent duty on carbon and alloy steel plate imports from South Korea‘s steel giant Posco.The penalty is slightly higher than the department’s preliminary decision made in November to impose a 7.46 percent duty on Posco products, but is still considered a moderate level, compared with duties levied on companies in other countries.(Yonhap)The move affects cut-to-length plate imports.Japanese companies were hit with duties ranging fr
IndustryMarch 31, 2017
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POSCO sees its Q1 net more than double on higher prices
POSCO, the country's top steelmaker, said Thursday that its first-quarter net profit is estimated to have more than doubled from a year earlier, driven by firm demand and higher prices.In a regulatory filing, POSCO said its net profit is estimated at 800 billion won (US$716 million) on a consolidated basis in the January-March period, compared with a profit of 338 billion won a year earlier.Its operating income is forecast to be some 1.2 trillion won, up 82 percent from a year earlier, and its s
IndustryMarch 30, 2017
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Hyundai Merchant expands China-Russia route
Hyundai Merchant Marine Co., South Korea's top shipping firm, said Thursday that it expanded its route linking China, South Korea and Russia as part of an effort to capitalize on a surge in shipping demand. (Yonhap)The shipper has been providing its shipping services on the route along with Russian shipping firm FESCO and French firm CMA-CGM.Under the expanded service, Hyundai Merchant will mobilize one container ship for the route every week, with FESCO to put two container vessels into operati
IndustryMarch 30, 2017
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[Seoul Motor Show] SsangYong’s G4 Rexton makes world debut
SsangYong Motor unveiled the G4 Rexton in a world premiere on the eve of the Seoul Motor Show on Thursday, seeking to expand its presence in the fast-growing market for sport utility vehicles.Previously referred to as the Y400, the South Korean carmaker owned by Mumbai-based Mahindra Group named the large SUV the G4 Rexton to highlight four main aspects. The G4 is meant to represent the “Great 4 Revolution” in driving, safety, style and high technology, the carmaker said.“Ssangyong is in the pha
MobilityMarch 30, 2017
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Samsung unveils much-awaited Galaxy S8
Samsung Electronics has finally unveiled its flagship Galaxy S8 smartphone, the tech giant’s first premium phone since the embarrassing recall of its fire-prone Note 7 last year. The new features of the much-awaited smartphone -- artificial intelligence assistant Bixby, a bigger display and facial recognition -- did nothing to dispel the notion that the tech giant excels on hardware but is relatively weaker with software compared to its Western counterparts.Smart voice assistant Bixby, which had
TechnologyMarch 30, 2017
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[Herald Interview] Mexico’s Oaxaca eyes economic ties with Korea
Oaxaca, a state in Mexico, hopes to learn from South Korea‘s economic miracle and is eager to boost economic ties with the country, its economic secretary told The Korea Herald Thursday. Mario Jesus Rodriguez, the secretary of economy of Oaxaca, and his team, are on a four-day visit to Korea where they hope to learn from the country’s economic development model, he said. “South Korea is important because we know the success of South Korea,” Rodriguez said. “The
March 30, 2017