Most Popular
-
1
Tensions heighten ahead of first president-opposition chief meeting
-
2
Seoul to provide housing subsidy to married couples with newborns
-
3
Rapper jailed after public street fight with another rapper
-
4
[KH Explains] No more 'Michael' at Kakao Games
-
5
Yoon, Lee end first talks with differences, agree to meet more
-
6
Woman gets suspended term for injuring boyfriend with knife
-
7
China outpaces Korea in smaller OLED shipments for 1st time
-
8
[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
-
9
What is Hybe’s next move?
-
10
Samsung chief bolsters ties with Germany’s Zeiss
-
Seoul shares open lower on financial losses
South Korean stocks began marginally lower Tuesday on losses in shares of large-cap insurers and brokerage houses, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.84 points, or 0.04 percent to 1,887.02 in the first 15 minutes of trading. Leading player Samsung Life Insurance fell 0.5 percent with No.2 banking group KB Financial Group sliding more than 1 percent. Analysts predicted the main index to start weaker as investors may opt for profit-taking after the
Aug. 27, 2013
-
‘Now is not time to buy core assets’
The global asset market has lost steam amid the prolonged global economic slowdown, and the Korean market situation is not faring much better.But this does not mean investors should wait until the mist clears, according to a top strategist at the U.S.-based LaSalle Investment Management. “Now is not time to buy core ― it is very expensive,” said Paul Guest, Asia-Pacific head of research and strategy of the company, in an email interview with The Korea Herald. “But there are plenty of near-core a
Aug. 27, 2013
-
S. Korea's consumer sentiment remains flat for 3rd month in Aug.
South Korean consumer sentiment remained unchanged for the third straight month in August as economic uncertainty lingers, the central bank said Tuesday.The consumer sentiment index (CSI) -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 105 for August, unchanged from the previous month, according to the Bank of Korea (BOK).Though the index has stayed flat since June, it marked the highest level since the index hit 106 in May last year.A readi
Aug. 27, 2013
-
Korea, China to hold 7th round of FTA negotiations next month
South Korea and China will hold a new round of negotiations for their free trade agreement early next month, the Trade Ministry in Seoul said Monday.The seventh round of the FTA talks will be held in the Chinese city of Weifang, Shandong Province from Sept. 3-5, the ministry said.In the upcoming round, Seoul plans to complete issues involving how and at what level commodity and service markets will be deregulated and discussions over the modality of their FTA negotiations.Seoul and Beijing launc
Aug. 26, 2013
-
Revision proposed to boost SMEs’ duty free shops
The Ministry of Strategy and Finance said Monday that it proposed amendments to customs legislations allowing the expansion of duty free shops operated by small and medium enterprises.The revision also included downsizing duty free shops owned by conglomerates such as Lotte and Shinsegae, and restricting them to maintain a market share below 60 percent.SMEs, meanwhile, will be able to see the benefits from this revision that will allow an increase in the number of their shops to account for more
Aug. 26, 2013
-
Korea seen decoupled from emerging markets
Financial markets in emerging economies with current account deficits such as India and Indonesia have been facing increased capital outflows driven by the U.S. plan to soon end monetary stimulus.These countries’ stocks, bonds and currencies have weakened, and their sovereign risks, measured by credit default swap premiums, increased over the past two weeks.However, such negative effects have not spilled over to Korea, further justifying market analysts’ claims that Asia’s fourth-largest economy
Aug. 26, 2013
-
[Graphic News] Workers at small and medium firms on the rise
According to data from Statistics Korea, the number of workers employed at small and medium-sized companies reached 12.6 million in 2011, accounting for 50.3 percent of the nation’s 25 million economically active population. It is the first time that the number surpassed 50 percent since the government agency started compiling such data in 2000.
Aug. 26, 2013
-
Revamping corporate governance is key to creative economy
The Korea Herald is publishing a series of articles scrutinizing key aspects and sectors related to the creative economy the Park Geun-hye government is promoting as a national agenda. The series will feature interviews with top government officials and IT gurus, and strategies to embody the policy. The special articles were made in cooperation with the Ministry of Science, ICT and Future Planning and the Ministry of Trade, Industry and Energy. This is the third part of the creative economy seri
Aug. 26, 2013
-
Korea to promote solar panel rentals
Korea, whose use of renewable energy in power generation is extremely low, will promote the solar panel rental business in a bid to boost demand for solar power, officials said Monday.“The high cost of installing solar panels and to maintain facilities has kept households from turning to solar power. The government expects the leasing system to solve the cost issue and create demand for solar power, in particular, among households,” said Song Yoo-jong, director general of energy and resources po
IndustryAug. 26, 2013
-
[Photo News] Volvo's new model
MobilityAug. 26, 2013
-
LG aims to revive former glory with G Project
LG Electronics said Monday that it would bolster its “G Project” marketing to promote a premium brand image and take back market leadership. LG started the project last year, labeling its then-flagship smartphone “Optimus G,” followed by “Optimus G Pro.”Officially started in February under three themes ― “great” for great capacity and efficiency, “genius” for smart functionality, and “good design” ― the project now dons additional themes.Products that create a new “generation,” higher-than-expec
IndustryAug. 26, 2013
-
LG jumps into price war over OLED TVs
LG Electronics has jumped into the price cut competition on OLED TVs to challenge rival Samsung Electronics and preoccupy the market. LG said Monday that it has lowered the price of its 55-inch, flat screen OLED TV from 11 million won to 9.9 million won ($8,900), and slashed its curved OLED TV from 15 million won to 10.9 million.Customers who already purchased curved OLED TVs can receive a refund of the difference. The amount will be 3.1 million won as 1 million won was given as a cashback. Ther
IndustryAug. 26, 2013
-
Business guru calls for innovative growth strategy
In a global economy which continues to remain stagnant, businesses must seek new growth strategies through innovation, according to Vijay Govindarajan, professor of international business at the Tuck School of Business at Dartmouth College.The professor, who spoke on Monday at the August session of Asia Society’s Big Thinkers Small Dinners series, is widely regarded as one of the world’s leading experts on strategy and innovation.His concept of “reverse innovation,” rated by the Harvard Business
Aug. 26, 2013
-
MBK to buy ING’s Korean life insurance unit for $1.7b
MBK Partners Ltd., a buyout firm formed by former Carlyle Group executives, agreed to buy ING Group NV’s South Korean life insurance operations for about 1.84 trillion won ($1.7 billion).The Dutch firm will hold an indirect stake of around 10 percent in ING Life Korea Insurance Ltd. for about 120 billion won and the unit will continue operating under ING brand for as long as five years, ING said in a statement today.Selling the business to MBK would bring ING, the biggest Dutch financial-service
Aug. 26, 2013
-
Revision proposed to boost SMEs’ duty free shops
The Ministry of Strategy and Finance said Monday that it proposed amendments to customs legislations allowing the expansion of duty free shops operated by small and medium enterprises.The revision also included downsizing duty free shops owned by conglomerates such as Lotte and Shinsegae, and restricting them to maintain a market share below 60 percent.SMEs, meanwhile, will be able to see the benefits from this revision that will allow an increase in the number of their shops to account for more
Aug. 26, 2013
-
GS Caltex boosts social contribution activities
GS Caltex, the nation’s second-largest refinery, has strengthened social contribution activities at home and abroad to fulfill its corporate social responsibilities since 2005 under the vision of “making the world beautiful through energy sharing.”This year, one of the firm’s key domestic social contribution activities is a project to counsel children from single-parent families or who have been bullied.“The company launched a task force last year to develop a corporate contribution model for ch
IndustryAug. 26, 2013
-
Six foreign wealth managers post second-quarter losses
Data from the Korea Financial Investment Association showed Monday that six out of the 23 foreign asset management firms operating in Korea reported losses during the second quarter of the year.They included Goldman Sachs Wealth Management, which posted an operating loss of 3.15 billion won ($2.7 million) during the April-June period. As its deficit deepened from 263 million won over the same period last year, the U.S.-based firm has decided to close down its business in Korea.CBRE Global Invest
Aug. 26, 2013
-
Hana Financial’s global strategy gains strength
Seoul-based Hana Financial Group is entitled to expand its presence in the United States from September as it has garnered regulatory approval to acquire a New York-based bank.Korean and U.S. financial supervisors approved the takeover deal, under which Hana Financial is to hold a 71 percent stake in BNB Financial Services Corp., in May and August 2013, respectively. Through the business networks of BNB Financial’s flagship Broadway National Bank, established in 1986 by Korean-American wholesale
Aug. 26, 2013
-
Hallyu fans pack KCON culture festival
LOS ANGELES ― It was more than a two-hour journey for Mariah Frazier and her two friends to get to the KCON festival, where their favorite K-pop stars would perform on the stage. But the 16-year-old girl from Redlands, California, said it was worth it. “Even though you don’t exactly understand the language, you can feel it. I like K-pop, which is totally different from American or European music,” she said, citing the boy-band Super Junior as her favorite. “I also started studying Korean culture
IndustryAug. 26, 2013
-
Seoul shares gain 0.95 pct on eased market woes
South Korean stocks shot up nearly 1 percent Monday as stabilizing emerging markets helped investors dispel concern about a financial jolt, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.70 points to close at 1,887.86. Trading volume was moderate at 312.4 million shares worth 3.23 trillion won (US$2.90 billion) with gainers outstripping decliners 535 to 266. "External risks needed to be eased for the main index
Aug. 26, 2013