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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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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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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KT launches new mobile plans for foreign residents
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Kumho Petrochemical to join solar power biz
Korea Kumho Petrochemical Co., the chemical subsidiary of Kumho Asiana Group, has decided to promote the solar power generation business as its future growth engine.KKPC announced on Thursday that it would enter the solar energy market through its newly acquired subsidiary, Korea Energy Power Plant, a special purpose company established last year.The chemical company incorporated the energy corporation as its sixth subsidiary late last month by acquiring 80.77 percent of its shares.KEPP recently
IndustryJune 27, 2013
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Korea, China see stronger coupling in indices
The coupling effect of equity price changes has become increasingly visible on the main bourses of Korea and China, stock research analysts reported Thursday.The two countries have seen concurrent rises and falls in their benchmark indices since June 13 on every day except one.On those days, the indices saw continued drops compared to the previous days, except June 14 and 17 when they both went up. The coupling effect is reflective of the increasing influence of the Chinese economy and stock mar
June 27, 2013
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SK C&C eyes global smart card market
As the number of businesses around the world taking advantage of various mobile devices and applications increases, Korea’s leading IT service provider SK C&C announced that it planned to expand its business using smart card technology.SK C&C is expected to target the high demand for innovative mobile solutions especially within the financial industry ― envisioning a unified platform through which different mobile payment methods can be issued, securely authenticated and used by customers, all w
TechnologyJune 27, 2013
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Daewoo E&C targets nuclear power projects
Daewoo Engineering & Construction, the nation’s third-largest builder, is stepping up its efforts to win engineering, procurement and construction contracts overseas in the nuclear power plant sector, the company said in a press release. Daewoo E&C is a latecomer to nuclear power plant construction compared with other builders such as Hyundai E&C, but it quickly caught up to become the first builder to have capabilities from plant design to construction by winning a nuclear plant design deal fro
IndustryJune 27, 2013
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CEOs to face stiffer censures for info leaks
The Financial Supervisory Service is poised to turn up the heat on chiefs of companies whose customers were inconvenienced or faced damage due to cyber security lapses.Chief executives in the financial industry will likely be held more accountable when their firms undergo leaks of customers’ private information through hacker attacks.Officials at the FSS said Thursday that the regulatory agency will unveil a package of comprehensive countermeasures, aimed at bolstering financial firms’ security
June 27, 2013
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First tenured Asian woman at Harvard Law honored
The Pony Chung Foundation conferred on Thursday its Pony Chung Innovation Award on Korean-American Harvard law professor Jeannie Suk.“Suk provided a new milestone in legal education with her innovative ideas and teaching methods,” said foundation chairman Kim Jin-hyun.Suk became the first Korean-American to be named a professor at Harvard Law in 2006 as well as the first-ever Asian woman to win the position of tenured professor there in 2010.The Pony Chung Innovation award, named after the nickn
June 27, 2013
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Kakao denies MAC address collection
Kakao, which runs mobile messenger “Kakao Talk,” said on Wednesday that its PC version does not gather MAC addresses, a type of hardware identification for computers. Rumors had spread among users that the company’s forthcoming PC version of Kakao Talk will collect sensitive information from users without prior consent. “Kakao does not collect MAC addresses,” a Kakao official told The Korea Herald. “We allow users to authenticate as many as five different PCs and the method is based on LAN cards
TechnologyJune 27, 2013
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Seoul shares spike 2.87 pct on eased policy woes
South Korean stocks shot up 2.87 percent Thursday, as investors opted to scoop up shares after policy jitters stemming from the U.S. and China waned, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) surged 51.25 points to close at 1,834.70. Trading volume was light at 281.4 million shares worth 4.06 trillion won (US$3.51 billion) with gainers far outnumbering decliners 743 to 115. "The index is quickly making up for its s
June 27, 2013
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Samsung unveils curved OLED TV on home turf
Samsung Electronics’ first curved OLED TV hit the shelves on Thursday, heating up the race to take the lion’s share of the world’s fledgling premium TV market. At a showcase event of the 55-inch curved OLED TV at its headquarters, the world’s tech leader pledged it to provide future-oriented products and services and begin a “Zero Pixel Defect” initiative in pursuit of defect-free screens for its OLED TV models. “There are now two kinds of TVs: Samsung TVs that evolve over time and non-Samsung T
IndustryJune 27, 2013
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Korea ups growth forecast to 2.7%
The government said on Thursday that it revised its annual growth projection to 2.7 percent this year, and is able to hit the mark through a “policy mix” of fiscal and monetary stimulus. Deputy Prime Minister and Finance Minister Hyun Oh-seok said that it would make sure to put its set of stimulus measures, including extra spending, into action “with great speed” to break free from the low growth trap.The Finance Ministry changed its growth forecast from its initial “baseline” estimate of 2.3 pe
June 27, 2013
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Samsung widens lead in Western Europe smartphone sales
Samsung Electronics Co., the world's largest smartphone maker, increased its dominance of the Western Europe smartphone market in the first quarter of the year, data showed Thursday.Samsung sold 14.3 million units in the region during the January-March period, taking up 45 percent of the market, according to the data compiled by market researcher IDC.The first-quarter figure compares with the 39 percent market share a year earlier, it showed.On the other hand, Apple Inc. saw its sales fall to 6.
TechnologyJune 27, 2013
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Seoul shares soar 2 pct on eased policy woes
South Korean stocks opened sharply higher Thursday, as disappointing U.S. growth data eased concerns that its government may start withdrawing its monetary easing policy, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 35.93 points, or 2.01 percent, to 1,819.38 in the first 15 minutes of trading. Top-listed firms gathered ground, with Samsung Electronics shooting up nearly 4 percent and Hyundai Motor gaining 2.4 percent. The U.S. economy expanded 1.8 percent on-year
June 27, 2013
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S. Korea's current account surplus hits record high in May
South Korea's current account surplus hit a record high in May as exports of tech products remained solid amid the local currency's weakness to the U.S. dollar, the central bank said Thursday.The current account surplus reached US$8.64 billion in May, up from a revised surplus of $3.93 billion the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.The May reading marked the 16th straight month of a surplus run and the country's
June 27, 2013
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NongHyup Bank leaks customers’ info to waste collector
NongHyup Bank’s lax handling of customers’ private information was hit by controversy again, only three months after the March 20 hacking fiasco involving its customer database, sources said Wednesday.One of the bank’s local branches allegedly violated the regulation on the safe disposal of customer information, leaking about 10,000 customers’ personal data on June 15.The branch officials handed over the documents to secondhand dealers who collect street waste and re-sell it to recycling compani
June 26, 2013
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Songdo seeks to become global education hub
The Incheon Free Economic Zone has invested in attracting global educational institutes, in the belief that it is important to attract global talent to build the reputation of Songdo as an international city. It has made efforts to provide the facilities and resources to educate high-caliber talented people. At the center of these efforts is Songdo Global University Campus, which just completed its first stage of development. Located on a 295,000-square-meter site in the seventh zone of Songdo I
IndustryJune 26, 2013
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IFEZ takes shape as international business city
The Incheon Free Economic Zone has emerged as one of the most popular investment destinations over the last decade, and is still seeing continued development. The IFEZ, covering 209 square kilometers, is located within Incheon Metropolitan City and consists of the three regions of Songdo, Cheongna and Yeongjong Island where Incheon International Airport is located. It is the nation’s first FEZ, designated in 2003. There are currently eight FEZs nationwide.In 2003, with the vision of transforming
June 26, 2013
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G-Tower in Songdo, hub building for U.N. offices
G-Tower in Songdo is expected to become a hub for U.N. offices in Korea. This year, the United Nations Economic and Social Commission for Asia and the Pacific and North-East Asia Office moved to G-Tower in the Incheon Free Economic Zone. Three more U.N. offices, including the Global Climate Fund, also plan to move to the same building. UNESCAP-ENEA occupies the sixth and seventh floors of the building, and there is a library that exclusively houses U.N. materials as well as state-of-the-art conf
IndustryJune 26, 2013
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Global interest rates rise on QE exit
The announcement of the U.S. Federal Reserve’s plan to scale back its monetary stimulus has sent interest rates on long-term state bonds around the world upward, indicating that the end of a low-interest era is nearing.Expectations that a tight monetary policy will follow the tapering of quantitative easing in the U.S. on the back of economic recovery have led investors worldwide to unload their fixed-income securities to avert further losing value on their bonds, analysts said.The basic scenari
June 26, 2013
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Conglomerates’ cashable assets gain 10.9%
Cashable assets held by South Korean business groups climbed 10.9 percent in the first quarter from three months earlier, as they reduced investment amid economic uncertainty, data showed Wednesday.South Korea’s top 10 business groups held 147.3 trillion won ($127.5 billion) in cashable assets as of end-March, compared to 132.8 trillion won tallied in end-December 2012, the data compiled by CEO Score showed.Cashable assets cover cash, cash equivalents and other financial products with a maturity
June 26, 2013
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Corporate investment expected to grow in H2
The facility investment of South Korean manufacturers is expected to grow slightly in the second half of the year thanks to their plans to improve superannuated facilities, a poll showed Wednesday.According to the survey of 1,000 manufacturers by the Korea Chamber of Commerce and Industry, 34.4 percent of the respondents said that they will increase their capital spending to improve superannuated facilities in the second half of the year compared with a year ago, while 22.2 percent said they wil
June 26, 2013