Most Popular
-
1
Court refuses injunction on medical school expansion
-
2
Jimin of BTS, actor Song Da-eun suspected to be dating, again
-
3
Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
-
4
What's next for the government's push in quota hike?
-
5
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
6
Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
-
7
N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
-
8
N. Korea fires short-range ballistic missiles toward East Sea: JCS
-
9
‘Malice should not undermine the system, social order,’ says Hybe's Bang
-
10
[Robert J. Fouser] Social attitudes toward language proficiency
-
Samsung CSR Awards recognize employees for volunteer works
From a special class for the visually impaired on how to use a smartphone to papering the walls for low-income households, some 35 Samsung employees who shared their talents with people in need received the annual Samsung Corporate Social Responsibility Award on Thursday.The Samsung CSR Award was established in 1995 to honor the group’s employees and its partner organizations for contributing to community development. The award is given for the best volunteer teams, best volunteers, best CSR pro
IndustryDec. 1, 2016
-
Hyosung heir meets Vietnamese PM for cooperation
Hyosung Group President Cho Hyun-joon met Vietnamese Prime Minister Nguyen Xuan Phuc last week to seek business opportunities in the Southeast Asian country’s infrastructure projects, the company said Monday. Hyosung Group President Cho Hyun-joon (left) poses with Vietnamese Prime Minister Nguyen Xuan Phuc after a meeting in Hanoi. (Hyosung Group)The South Korean textile giant has been eyeing construction and financial projects overseas as part of its efforts to diversify its business portfolio.
IndustryDec. 1, 2016
-
Hyundai G90 named finalist for North American Car of the Year
Hyundai Motor’s luxury sedan Genesis G90 will be competing with Chevelot’s Bolt and the Volvo S90 for the prestigious North American Car of the Year award, the company said Wednesday.The carmaker’s high-end vehicle, known as the Genesis EQ900 in South Korea, was named one of the three finalists for the award at the Los Angeles auto show. The winner will be announced during the Detroit Motor Show scheduled for January, based on the decision of a judging panel consisting of 57 journalists from the
MobilityDec. 1, 2016
-
Hanwha chief meets Virginia governor
Hanwha Group Chairman Kim Seung-youn met Virginia Gov. Terry McAuliffe on Wednesday to strengthen business cooperation between the company and the US state, the group said in a statement.Hanwha Group Chairman Kim Seung-youn shakes hands with Virginia Gov. Terry McAuliffe after a meeting in Seoul, Wednesday. (Hanwha Group)At a meeting held at Hanwha’s Seoul office, the two exchanged their views on the company’s ongoing business operation in Virginia and also the prospects of the diplomatic and ec
IndustryDec. 1, 2016
-
KITA chief urges end to cozy corporate-state ties
Kim In-ho, chairman and CEO of the Korea International Trade Association, on Monday urged the government to end its cozy ties with businesses, amid intensifying allegations that President Park Geun-hye lobbied chaebol leaders.Asked of his view on the scandal involving Park and her longtime friend Choi Soon-sil, Kim said he believes that the time is ripe to end such practices, taking this as an opportunity to shift to a completely free market economy. “The current government is not the only one.
IndustryDec. 1, 2016
-
Samsung reports steady rise in retrieval rate of Galaxy Note 7s
Samsung Electronics Co. said Thursday it has retrieved about 67 percent of Galaxy Note 7 smartphones sold in South Korea about three months after it conducted a global recall of the smartphones over a safety risk. Taking into consideration that some owners of the Note 7 had applied to swap their Note 7s for other smartphones via online reservations, the return rate could be 83 percent as of Wednesday, said an official at Samsung.Samsung started selling the Note 7 in South Korea on Aug. 19, but h
TechnologyDec. 1, 2016
-
Mirae Asset brokerages hire big ahead of merger
The two brokerage units under South Korea's Mirae Asset Financial Group have hired a large number of employees this year ahead of their planned merger despite the securities industry's slump, sources said Thursday.Mirae Asset Daewoo Securities Co., formerly KDB Daewoo Securities Co. owned by the state-run Korea Development Bank, completed the hiring of 59 new employees the previous day. Mirae Asset Securities Co. has also employed 141 new workers and career staff this year.In April, Mirae Asset
Dec. 1, 2016
-
3 shipyards face 2.2 tln-won corporate debt due next year
South Korea's major shipyards have to pay off or refinance a combined 2.22 trillion won ($1.89 billion) worth of corporate bonds due next year amid concerns over their worsening financial status, industry sources said Thursday.According to the sources, Daewoo Shipbuilding & Marine Engineering Co., one of the country's big three shipyards, faces a total of 940 billion won worth of corporate debts due next year.The shipyard holds cash and cash equivalent assets totaling 749 billion won, stoking wo
IndustryDec. 1, 2016
-
Korea Deposit Insurance signs deal with 7 investors on sale of Woori Bank
South Korea's state-run Korea Deposit Insurance Corp., on Thursday signed a 2.4 trillion won ($2 billion) deal with seven institutional investors on the sale of Woori Bank, ending years-long attempts to privatize the state-owned bank.Under the deal, IMM Private Equity and Mirae Asset Global Investments Co. will take over 6-percent and 3.7-percent stakes, respectively, in Woori Bank. Hanwha Life, Tongyang Life Insurance Co. owned by China's Anbang Insurance Group Co., Eugene Asset Management Co.,
Dec. 1, 2016
-
Fewer firms subject to strict antitrust laws in Nov.
The number of South Korean business groups' affiliates subjected to restrictions on mutual investments and loan guarantees fell slightly last month from a year earlier, the antitrust watchdog said Thursday.The Fair Trade Commission (FTC) said the number of firms on its monthly watch list stood at 1,127 as of end-November, down one from the previous month.The affiliates are owned by the country's 27 largest business groups, including Samsung Group and Hyundai Motor Group.Seven business groups, in
IndustryDec. 1, 2016
-
Korea's exports rebound to rise 2.7% in Nov.
South Korea posted a current account surplus for the 56th straight month in October but suffered a decline due to sluggish outbound shipments, central bank data showed Thursday.The current account surplus reached $8.72 billion in October, compared with a $9.58 billion surplus a year earlier, according to the preliminary data from the Bank of Korea (BOK).But the October figure marks a rise from $8.07 billion in September. The current account is the biggest measure of cross-border trade.It said th
Dec. 1, 2016
-
One-man operations swing to upturn despite slump
The number of one-man operations in South Korea swung to an upturn in the third quarter of this year, government data showed Thursday, apparently as more people set up shop for "non-voluntary" reasons amid a prolonged economic slump.The country's mom-and-pop businesses, which don't hire workers, numbered 4.09 million as of the end of September, up 1.3 percent from a year earlier, according to the data by Statistics Korea. This photo, taken on Aug. 4, 2016, shows a group of self-employed people h
Dec. 1, 2016
-
Korea's consumer prices gain 1.3% on-yr in Nov.
South Korea's consumer prices gained more than 1 percent for the third month in a row in November on high prices of fresh groceries, government data showed Thursday.The country's consumer price index rose 1.3 percent last month from a year earlier, unchanging from the previous month's 1.3 percent gain, according to the data compiled by Statistics Korea. Flower vending machine (Photo courtesy of the Korea Agro-Fisheries and Food Trade Corporation)The inflation has stayed over the 1 percent level
Dec. 1, 2016
-
Ssangyong Motor to recall 5,200 cars sold in Korea
Ssangyong Motor Co., the local unit of Indian automaker Mahindra & Mahindra Ltd., is recalling some 5,200 vehicles sold here for issues related to the car's front bumper shock absorbers, the transportation ministry said Thursday.According to the Ministry of Land, Infrastructure and Transport, the shock absorber may break due to a manufacturing defect, upsetting the balance of the car should part of the absorber also become detached. The 2017 Korando Turismo (Photo courtesy of Ssangyong Motor)The
MobilityDec. 1, 2016
-
Industrial output declines amid increased downward risks
Korea’s Industrial output fell for the second consecutive month in October, falling 0.4 percent from the previous month, data released by Statistics Korea showed Wednesday. Sluggish demand and exports for mobile phones and automobiles dragged down the production index, according to the statistics agency. Finance Minister Yoo Il-ho, who is also deputy prime minister, warned of the increased downward risks of Korea’s economy during a meeting of economic policymakers Wednesday. &ldqu
IndustryNov. 30, 2016
-
All-new 2017 Lincoln Continental launched in Korea
Ford’s luxury car division Lincoln Motor launched the all-new 2017 Lincoln Continental in Korea on Wednesday. The premium sedan is the 10th generation of the Lincoln Continental, reintroduced at a motor show in 2015 after a 13-year hiatus. The first generation was made as a holiday car for then-Ford president Edsel Ford in 1939. “Ford grew more than 150 percent in the five years in Korea. With the launch of the Lincoln Continental, we plan to accelerate the growth,” Kumar Galhotra, president of
CompaniesNov. 30, 2016
-
Conglomerates begin executive reshuffle
South Korean conglomerates have started to carry out their annual reshuffles of executives this week, while they try to remain low-profile amid the ongoing prosecutors’ investigation into alleged corporate lobbying involving the South Korean president.The reshuffles started with GS Group on Tuesday, and LG Group is likely to implement changes in executive positions later this week. Samsung Group, meanwhile, has postponed their announcement to mid-December, breaking its tradition of delivering th
IndustryNov. 30, 2016
-
[HERALD INTERVIEW] ‘Investors hold key to sustainable real estate’
Amid tightening energy efficiency regulations for buildings around the globe, it is essential for institutional investors to consider the level of sustainability of their real estate portfolios, said the Asia-Pacific head of a global real estate assessment agency.“More and more countries are strengthening the sustainability rules for real estate. And it is impossible to ignore the sustainability aspect of the buildings when thinking of the future value of the buildings,” Ruben Langbroek, head of
IndustryNov. 30, 2016
-
Flower vending machine installed in southern Seoul
A state-run agricultural agency said Wednesday that it has installed an automatic flower vending machine in Seoul in an effort to boost the local floral industry.The machine, which sells preserved flowers, is installed at the head office of the Korea Agro-Fisheries and Food Trade Corporation (aT) in southern Seoul, officials said.Flowers are kept cold to preserve freshness and to guarantee the best quality, they said, noting that the flowers can keep for up to three years."Customers can easily p
IndustryNov. 30, 2016
-
Samsung faces patent suits from KAIST in Texas
Samsung Electronics is facing a patent lawsuit from the Korea Advanced Institute of Science & Technology in the US, the institute confirmed Wednesday. KAIST IP, the institute’s intellectual property management arm, said it sued Samsung Electronics, Qualcomm and Global Foundries in a Texas court, claiming they used KAIST’s chip technology without permission. Texas is where Samsung’s Austin chip plant is located. KAIST is a state-run research institute set up in 1971 with the aim of improving rese
TechnologyNov. 30, 2016