Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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Korea enters full election mode
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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[Hello India] Corporate Korea sees new growth drivers in India
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Samsung’s new mobile chief vows to retain market leadership
Samsung Electronics’ new mobile business chief Koh Dong-jin vowed to maintain the company’s leadership in the world’s smartphone market despite market concerns about competition from rivals.Entering Samsung’s head office in Seocho-dong, Seoul, on Wednesday, the new president of the mobile communications business -- a smaller unit under the firm’s IT and mobile communications division -- told reporters that Samsung’s smartphone unit is “not at the end of its rope.” He also pledged that he would m
TechnologyDec. 2, 2015
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Hanwha Q Cells begins operating Turkey’s largest solar plant
Hanwha Q Cells, the world’s leading solar cell manufacturer, has begun operating a portion of its solar power plant in Turkey which will become the largest of its kind in the country upon completion in 2016. The South Korean solar cell manufacturer said Wednesday it has finished building its first plant -- with a production capacity of 8.3 megawatts of solar energy -- in Burdur, a city in southwestern Turkey.Hanwha is scheduled to complete another plant with a 10 MW capacity by next year, drivin
IndustryDec. 2, 2015
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[Photo News] ExxonMobil, KOGAS to cooperate for LNG business
LNG COOPERATION -- ExxonMobil vice president of gas and power marketing Richard Guerrant (left) and the president and Korea Gas Corp. chief executive Lee Seung-hoon pose after signing a memorandum of understanding to jointly pursue new opportunities in the natural gas value chain at a ceremony held in Seoul on Wednesday. LNG -- a cleaner burner fuel compared to other non-renewable energy sources -- is expected to replace coal as the No. 2 global source of energy, a shift that reflects the versat
IndustryDec. 2, 2015
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[Design Forum] Design changes lives for physically impaired
Swinging-door bathtubs (Chung Joo-won/The Korea Herald)Universal Design Expo was launched Wednesday to display some of the latest technologies and art objects with “universal designs,” or designs that all walks of life including the physically impaired can enjoy. On display from Dec. 2-6, the main exhibition of Seoul Design Week 2015 consists of 11 experience zones, seven “life experience zones” and four “transportation experience zones.” The life experience zones include five experience-yours
IndustryDec. 2, 2015
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Seoul shares fall 0.72% ahead of ECB meeting
South Korean stocks retreated 0.72 percent Wednesday as investors took to the sidelines ahead of the European Central Bank's two-day policy meeting to decide on expanding its stimulus step. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 14.64 points, or 0.72 percent, to 2,009.29. Trade volume was moderate at 623.96 million shares worth 4.3 trillion won ($3.69 billion), with losers far outpacing gainers 532 to 286.Investors expect the ECB t
Dec. 2, 2015
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Hyundai, Kia see China sales stay robust in Nov.
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their sales in China continue to rebound from a deep trough on the back of firm demand for sports utility vehicles and new models, industry data showed Wednesday.The two leading South Korean carmakers sold a total of 180,159 vehicles in China last month, up 11.5 percent from a year earlier, according to the data.Their sales in China grew on-month for the first time in six months in October with a 4.7-percent rise following an 11-pe
MobilityDec. 2, 2015
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SK Telecom sets out new vision with takeover amid criticism
South Korea's No. 1 mobile carrier SK Telecom Co. vowed Wednesday to beef up its efforts to tap deeper into the media industry through the acquisition of the nation's top cable operator, amid rising criticism from its rivals over the deal.In early November, SK Telecom struck a deal to buy CJ Hellovision, the country's biggest operator of cable channels and Internet TV content, and plans to merge the firm with its wholly owned subsidiary SK Broadband Co.The merger needs to win approval from the a
IndustryDec. 2, 2015
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Seoul shares down 0.23% in late morning trade
South Korean stocks traded lower late Wednesday morning as foreign investors dumped market heavyweights on woes over a widely expected rate hike in the United States.The benchmark Korea Composite Stock Price Index lost 4.73 points, or 0.23 percent, to 2,019.2 as of 11:20 a.m. Most market heavyweights were in negative terrain. Top market cap Samsung Electronics declined 0.61 percent, and Korea Electric Power Corp., the state-run power provider, slipped 1.31 percent.However, cosmetics shares trade
Dec. 2, 2015
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Samsung's new mobile chief seeks stability over change
Samsung Electronics Co.'s new leader for its flagship mobile business said Wednesday he will not seek an all-out reshuffle of the business, but instead seek stability.The remark came after Koh Dong-jin, who was previously in charge of the mobile research and development, was named to head Samsung's Mobile Communications Business on Tuesday."There will be no large-scale changes," Koh told reporters briefly, when asked if the Mobile Communications Business will go through restructuring, possibly t
CompaniesDec. 2, 2015
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Korea's radar technology 12th in the world
South Korea's radar technology ranks 12th in the world, putting it further behind advanced nations compared to three years ago, a state research agency said Wednesday.South Korea has been developing an indigenous fighter jet known as the Korean Fighter Experimental project, scheduled for completion by 2025. Controversy over the project's viability grew after the United States refused to transfer four core technologies, including those for active electronically scanned arrayradar.According to a r
TechnologyDec. 2, 2015
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Korea's renewable energy use lowest in OECD: report
South Korea ranked last among members of the Organization for Economic Cooperation and Development in the use of renewable energy to power its economy in 2014, a report by an international energy agency showed Wednesday.Asia's fourth-largest economy got just 1.1 percent of its energy from renewable sources like solar, wind, geothermal, tidal and hydropower generation, according to the report by the International Energy Agency. The number placed the country last among the 34 developed market econ
Dec. 2, 2015
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Seoul to collect loan from local firms investing in Pyongyang
South Korea plans to retrieve part of special soft loans provided to local firms involved in economic cooperation with North Korea for the first time in five years, government officials said Wednesday.Tapping into a state fund on inter-Korean cooperation, Seoul has provided loans with low rates to such companies to help them cope with financial troubles stemming from the South's punitive sanctions against the North in 2010. Local firms that had invested in projects and assets in North Korea are
Dec. 2, 2015
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Hanwha Q Cells builds solar plant in Turkey
Hanwha Q Cells Co., the world's leading solar cell maker, said Wednesday it has built a solar plant in Turkey, and plans to expand its capacity there as part of an effort to tap deeper into emerging markets.The South Korean solar cell maker has completed a plant with a capacity of 8.3 megawatts in the province of Burdur. Hanwha Q Cells plans to expand the plant with a capacity of 18.3 MW by 2016, the company said.The plant, when completed, will be Turkey's largest solar plant, according to the c
IndustryDec. 2, 2015
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Samsung showcases web browsing tool for VR devices
Samsung Electronics Co. introduced Wednesday the beta edition of a web browsing program for its virtual reality devices, allowing users to access more content online.The test edition of Samsung Internet for Gear VR will allow users of Samsung's VR devices to stream various videos online and provide a theater-like experience, the company said.It also allows users to surf the Internet with voice commands, with Gaze Mode activating the screen simply by staring at the menu.Other features from typica
TechnologyDec. 2, 2015
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Seoul shares open lower on blue-chip losses
South Korean stocks opened lower Wednesday as market heavyweights lost ground on woes over a widely expected rate hike in the U.S.The benchmark Korea Composite Stock Price Index shed 6.5 points, or 0.32 percent, to 2,017.43 in the first 15 minutes of trading. Top market cap Samsung Electronics fell 1.44 percent after the tech giant appointed a new head for its flagship mobile business that is struggling with falling margins amid tougher global competition. In contrast, automakers traded bullish
Dec. 2, 2015
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Shinhan Card launches joint venture in Indonesia
Shinhan Card Co., South Korea's leading credit card company, said Wednesday it has established a joint venture with an Indonesian carmaker to tap into the credit market in the Southeast Asian country. Shinhan Indo Finance set sail earlier in the day to provide a range of vehicle-related financing and leasing, while planning to expand into the credit card business starting in the second half of next year, according to Shinhan Card.Shinhan's Indonesian partner is Swadharma Indotama Finance, a fi
Dec. 2, 2015
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Hyundai, Kia see U.S. sales grow 7% in Nov.
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their combined sales in the United States grow 7 percent in November, industry data showed Tuesday.The two South Korean auto giants sold a combined 105,560 units in the U.S. last month, up from 98,608 units during the same period last year, the data showed. But the pace of growth slowed from October's 16 percent.Hyundai Motor sold 60,007 cars in the U.S., up 12 percent from a year earlier, while Kia Motors' sales grew 1.4 percent o
MobilityDec. 2, 2015
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Current account surplus narrows on growing imports in Oct.
South Korea's current account surplus shrank from a month earlier in October as imports grew while the country's deficit in the service sector widened, preliminary data from the central bank showed Wednesday.The current account surplus came to $8.96 billion last month, compared with a revised $10.54 billion surplus in September, according to the data from the Bank of Korea.The October figure, however, marked a slight increase from a surplus of $8.74 billion posted in the same month last year.Oct
Dec. 2, 2015
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Korea's ICT trade surplus highest among OECD members
South Korea's trade surplus in the ICT segment outpaced those of members of the Organization for Economic Cooperation and Development in the first half, data showed Wednesday, posting robust performances despite the global economic slump.According to the data compiled by the Institute for Information & Communications Technology Promotion, South Korea posted a whopping trade surplus of $40.9 billion in the January-June period in the sector, beating Germany, which came in second with a profit of $
Dec. 2, 2015
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[Newsmaker] Samsung eyes stability in reshuffle
Samsung Electronics on Tuesday named Koh Dong-jin, executive vice president in charge of mobile R&D, as the new mastermind of the company’s flagship mobile business division amid its recent struggle for profitability. A surprise appointment, the 54-year-old engineer’s replacement of the current mobile chief Shin Jong-kyun, 60, hinted at a generational shift in the Korean tech giant’s top brass. “Shin will focus more on long-term strategy and foster new growth businesses,” the company said in a
TechnologyDec. 1, 2015