Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Photo News] Meeting with heads of foreign financial firms
IndustryJuly 4, 2013
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Samsung names its smart watch ‘Gear’
Amid expectation on the rise for Samsung Electronics’ smart watch, the world’s largest electronics firm filed a patent on its smart watch last week in Korea and the United States, The Korea Herald has confirmed.The world’s largest electronics firm applied for the patent on the wearable gadget it calls “Samsung Gear” on June 21 at the Korean Intellectual Property Office, and filed at the United States Patent and Trademark Office on June 27.It is said the name for the watch will be the official on
IndustryJuly 4, 2013
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Korea, China optimistic on FTA
Korea and China achieved general consensus on the modality and range of their bilateral free trade agreement during the sixth round of talks held in Busan this week.Their outcome, however, fell below the expectations that the recent summit between President Park Geun-hye and Chinese leader Xi Jinping would add immediate momentum to the ongoing negotiations.“We came close to reaching a final agreement in most issues, including the product and non-product sectors,” said an official of the Northeas
July 4, 2013
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Deutsche Bank Seoul branch referred to prosecution
The Korean unit of Deutsche Bank AG may be placed under prosecutors’ investigation for business irregularities, according to the Financial Supervisory Service.An FSS official said the regulator, in consultation with the Financial Services Commission, referred the financial firm Thursday to the prosecution for breaching the laws on financial investment, issuing an “institutional warning” against the Seoul branch and reprimanding its branch manager and eight other employees.The Deutsche Bank Seoul
July 4, 2013
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Import car sales drop in June on stock shortage
Import car sales decreased 4.6 percent in June from the previous month, largely led by stock shortages and upcoming car launches, a business lobby said Thursday. According to the Korea Automobile Importers and Distributors Association, foreign carmakers, led by BMW and Mercedes-Benz, sold 12,792 vehicles last month. The monthly figure is still a 20.9 percent increase from the same period last year. The combined import car sales in the first six months this year were 74,487, up 19.7 percent from
IndustryJuly 4, 2013
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GM Korea workers stage partial strike
The labor union of GM Korea staged a partial strike for six hours on Thursday following failed talks with the management over wages and production plans. Depending on progress of the talks which began in April, the union said, management plans to refuse overtime and weekend work. The union has called for a basic monthly salary increase of 130,498 won ($115), an additional bonus equivalent to three months’ wages and a lump-sum payment of 6 million won. But the management offered an increase of 41
IndustryJuly 4, 2013
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Hyundai Heavy to open 1st luxury resort in Gangneung
Hyundai Heavy Industries, the nation’s top shipbuilder, will open its first luxury resort in Gangneung, a city on the east coast in Gangwon province, in 2015 by rebuilding its Hotel Hyundai near the Gyeongpodae beach, the company said in a press release on Thursday. Richard Meier, an American architect and a winner of the Pritzker Architecture Prize, will design the high-end resort, which will have a ‘hanok’ hotel, a 15-floor convention center, an outdoor performance hall, and a swimming pool. t
IndustryJuly 4, 2013
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Samsung replaces U.S. phone chief
Samsung Electronics, in a rare move, on Thursday said it has replaced Sohn Dae-il, head of the company’s North American mobile phone operations, signaling that Sohn had somehow fallen out with the company.“It’s true Sohn has been there for quite a bit, but he may have done something wrong to irk the Samsung top brass because it’s rare to carry out personnel moves in the middle of the year,” industry sources said. Samsung usually conducts personnel reshuffling at the very end of the year. The nex
IndustryJuly 4, 2013
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STX Heavy Industries to build desulfurization facilities
STX Heavy Industries has won a contract to build desulfurization facilities for Korea Western Power Corp.’s thermoelectric power plant units 9 and 10 in Taean, South Chungcheong Province, company officials said. The two contracts together are worth nearly 100 billion won ($87.7 million). STX plans to kick off its construction by delivering equipment to unit 9 this November, with a forecasted December 2016 completion date. The company will provide end-to-end engineering, procurement and construct
July 4, 2013
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Shipbuilders struggle with wage dispute
Since the issue of “ordinary wages” was brought up in May during President Park Geun-hye’s visit to the United States, Korean firms have been beset by labor unions’ demands. The unions want bonuses to be included in regular wage figures, which are used to calculate overtime allowances, severance pay and other benefits.The inclusion of bonuses would hit shipbuilders the hardest, along with the automobile and steelmaking sectors, all of which are reliant on overtime work for their manufacturing sc
IndustryJuly 4, 2013
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Feeling the spirit of Joseon Dynasty
Visiting rural areas with well-preserved traditional houses is a common desire of city dwellers. Oeam Village, located 8 km south of Onyang in Asan, South Chungcheong Province, has been used as a location for several films such as “Taegeukgi: The Brotherhood of War” (2004) and “The Classic” (2003). The origin of the village goes back to the middle of the Joseon era, about 500 years ago. The noble Lee family of Yean settled in the area and its descendants have taken root there. Oeam Village has b
July 4, 2013
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Daraengi Village boasts picturesque landscape
Located at the southern tip of Korea, Daraengi Village was not only on the list of “Rural-20” awardees last year but has also been on the list of 100 recommended local tourist sites by the Korea Tourism Organization for two consecutive years. The village was also named one of 50 beautiful places to visit in Korea by CNN. Some 230,000 tourists visit the village every year.The well-preserved village features the extraordinary sight of “daraengi,” or tiny paddy fields, on a steep mountain slope aga
July 4, 2013
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Festival showcasing Korean rural, fishing villages kicks off
For those who look to countryside summer vacation spots for a break from their busy city life, the eighth festival for vacationing in rural and fishing villages this weekend will offer a chance to preview hundreds from around the nation. During the event, which kicked off on Thursday at KINTEX in Goyang City, Gyeonggi Province, and will last until Sunday, about 300 rural or fishing villages from six provinces set up booths to highlight their village tour programs. Some of them boast of pristine
IndustryJuly 4, 2013
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Air France celebrates 30 years in Korea
Air France on Friday celebrates the 30th anniversary of its operating passenger flights connecting Korea and France. The French air carrier was the first European airline to start a Korean operation, on July 5, 1983. Air France was also the first airline that served Korea’s kimchi as a side dish in its in-flight meals in 1996. In 1998, the company joined the code-share agreement with Korean Air for the Seoul-Paris routes. Since 2003, Air France has operated daily flights from Seoul to Paris. Cur
IndustryJuly 4, 2013
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Cyber attacks hit 67 targets: ministry
A total of 67 targets including public offices and companies came under cyber attacks on June 25 and the following days, the Korean government said Thursday. The types of attacks include distributed denial of service (DDoS) and malicious codes to destruct hard disk drives. Among them, 14 organizations lost some of their data stored on hard disks due to the malicious code. At the press briefing on Thursday, the government disclosed the extent of damage by the latest series of cyber attacks. “A t
TechnologyJuly 4, 2013
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Naver’s Newsstand service suffers setback
NHN, which runs South Korea’s biggest portal Naver.com, kicked off its news aggregation service called “Newsstand” in April, only to see plunging traffic and complaints from local news media, according to a recent forum. At a forum of online journalism experts who reviewed the portal’s news service, Sangji University professor Kim Kyung-hwan criticized the usability of the system. “The news service is very inconvenient for those who do not have a specific preference of the press.” He said it is
TechnologyJuly 4, 2013
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Seoul shares rise 0.79 pct on improved U.S. data
South Korean stocks closed 0.79 percent higher Thursday as investors' sentiment was heightened by the Unites States' optimistic job data, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 14.48 points, or 0.79 percent, to close at 1,839.14. Trading volume was moderate at 309 million shares worth 3.09 trillion won (US$2.71 billion) with gainers outpacing losers 481 to 316. "Seoul shares gathered ground on the back of
July 4, 2013
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S. Korea unveils measures to boost domestic service sector
South Korea unveiled a set of measures, including expanded tax benefits, to stimulate business activity in the service sector Thursday, as it believes the area will likely help create more jobs and lead to overall economic growth.The service-sector development measures were the first of their kind mapped out by the Park Geun-hye government since it took office in February. They were announced jointly by the Ministry of Strategy and Finance; the Ministry of Culture, Sports and Tourism; and the Mi
July 4, 2013
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[Graphic News] Cross-border migrating
The number of people moving to and from Korea totaled 1.28 million last year, a 4.4 percent increase from a year earlier, according to Statistics Korea. But net migration, the difference between the numbers of immigrants and emigrants, fell to just 7,000 people.
July 3, 2013
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iPhone users’ loyalty declines: report
Apple’s iPhone users in Korea were found to be less loyal to the smartphone than its rival’s followers, according to a report released Wednesday.According to a consumer report by DIGIECO or KT Economics and Management Research Institute, 53 percent of 416 survey respondents using an iPhone said they would not continue using Apple’s smartphone line. The result is based on the survey conducted on 3,763 smartphone users aged 13 to 69.For Samsung Electronics’ Galaxy S smartphone line, 35 percent of
IndustryJuly 3, 2013