Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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Ministry set to commercialize graphene
The government has begun in earnest to commercialize “graphene,” a new advanced material, announcing Tuesday six consortiums to lead material-related research and development projects.The Ministry of Trade, Industry and Energy said the commercialization of the material could spawn ultra-thin but strong electronics goods, such as paper-thin and flexible TV screens. Graphene, thin sheets of carbon, was discovered in 2004, rocking the science industry. The world’s thinnest and strongest nano-materi
May 21, 2013
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SK Planet to launch online services in Indonesia
SK Planet Co., an affiliate of South Korea’s top mobile carrier SK Telecom Co., is seeking to launch mobile and online services in Indonesia as part of an effort to tap into the country’s growing number of mobile and Internet users, industry sources said Tuesday.SK Planet has recently agreed with Indonesian mobile carrier PT XL Axiata Tbk to set up a joint venture for mobile and online services there, according to the sources.SK Planet and the Indonesian mobile operator each will invest $9.15 mi
May 21, 2013
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Woori to unveil nominee for new chief this week
South Korea’s top banking group Woori Finance Holdings Co. is likely to announce a nominee to replace Chairman Lee Pal-seung later this week, officials said Tuesday.Woori Finance is poised to unveil a group head nominee on Thursday as its selection committee recently reviewed the short list of candidates and passed the list to the financial watchdog, according to officials. A group chief nominee is subject to approval from the group’s board members and shareholders.Apparently giving in to mounti
May 21, 2013
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LH secures management stability through reforms
When the Korea Land & Housing Corp. was established in 2009 as a result of the merger of the Korea National Housing Corp. and the Korea Land Corp., the public was more concerned than hopeful about the organization’s future.The integrated land and housing developer was then in a seemingly irretrievable situation, holding 109 trillion won ($97.6 billion) in total debt, which amounted to 525 percent of its total assets.Things worsened in the following year, when the figure soared to 560 percent, wh
BusinessMay 21, 2013
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Chrysler to recall nearly 1,000 cars in Korea
U.S. automaker Chrysler Group LLC is recalling nearly 1,000 vehicles in South Korea for a defective passenger airbag, the Transportation Ministry said Tuesday.The recall affects 985 units of the 300C luxury passenger vehicle that were produced between April 11 and Dec. 14 of 2011, according to the Ministry of Land, Infrastructure and Transport.The ministry said the front side airbag of the vehicle may not deploy due to faulty wiring.Owners of vehicles subject to the recall may receive free repai
May 21, 2013
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GS E&C wins $1.03b order from Turkey
GS Engineering & Construction Corp., South Korea’s fourth-largest builder, said Tuesday that it has won a $1.03 billion order to build an oil refinery plant in Turkey.The deal is part of a $3.45 billion deal that was signed between Star Refining Inc. and a consortium led by TR, Spain’s leading engineering company, on Monday. The consortium also includes Italian oil service group Saipem and Japan’s Itochu Corp.Star Refining is a joint venture between the State Oil Company of Azerbaijan Republic a
IndustryMay 21, 2013
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KEPCO, Alstom Grid set up joint venture
Korea Electric Power Corp., South Korea’s state-run power company, said Tuesday that it will establish a joint venture with Alstom Grid, a French electric power transmission equipment maker, to conduct a high-end electric power transmission project in South Korea. The joint venture, named “KEPCO Alstom Power Electronics Systems,” will focus on the establishment of a high-voltage, direct current electric power transmission system in the country, which uses direct current for the bulk transmission
IndustryMay 21, 2013
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Korean handset makers shine in global LTE market
South Korea’s three major handset makers ― Samsung Electronics Co., LG Electronics Inc. and Pantech Co. ― grabbed a share of more than 30 percent of the global long-term evolution phones in the first quarter, data showed Tuesday.Samsung Electronics, the world’s largest smartphone maker, ranked second by shipping 10.3 million handsets running on LTE service in the first quarter for a market share of 25 percent, according to data compiled by Strategy Analytics.LG Electronics, the world’s No.3 smar
IndustryMay 21, 2013
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Hana, KEB join hands for overseas CSR program
Hana Bank and the Korea Exchange Bank under the Hana Financial Group are stepping up their cooperation in their overseas joint social contributions.In Indonesia, the two banks joined hands to cook and hand-deliver 500 food boxes to households in poor areas in Jakarta, the capital of Indonesia. The Indonesian offices of Hana Bank and KEB came up with the food box run, which closely resonates with “served-hot meal donations,” which has been Koreans’ signature social charity activity. In the proces
May 21, 2013
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Merging of food and drug R&D could be new growth engine
By Kim Byung-dong It was September 2009 at Cold Spring Harbor Laboratory in Manhattan where an annual meeting on DNA replication and chromatin structure was held. During the conference, I met James Watson in his office of the former president of the CSHL and chancellor of the Watson School of Biology. He was very active at his age of 81. I gave him my recently-published book “Secret of the Unsolved Double Helix, Foldback Intercoil DNA” and he gave me in return a book on CSHL authored by his wife
May 21, 2013
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Microsoft rolls out Surface tablet in S. Korea
Microsoft Corp. on Tuesday launched its own tablet computer Surface in South Korea in a bid to bolster its presence in the market dominated by rival gadgets manufactured by Apple Inc. and Samsung Electronics Co. The U.S. software giant said consumers will be able to buy the Surface RT tablet computer and its upgraded version, the Surface Pro, at local retail shops starting from June 11. The tablet computer has been already released in over 20 countries, including the United States and Ch
TechnologyMay 21, 2013
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S. Korea seeks resumption of free trade talks with Russia
South Korea is seeking to resume talks on a free trade deal with Russia as part of efforts to expand its economic cooperation with the country, the government said Tuesday.Free trade agreement (FTA) talks with Russia came to a halt in 2008 when Russia suspended negotiations unilaterally. In a meeting chaired by Finance Minister Hyun Oh-seok to discuss trade affairs, the government decided to resume FTA talks with Russia as quickly as possible, a move aimed at pre-empting the market there and lay
May 21, 2013
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S. Korea reports first human case of tick-born virus
South Korea has reported the first confirmed case of a person infected with a tick-borne virus in the country following reports of deaths in China and Japan, the state-run disease control agency said Tuesday.Out of five suspected cases, a 63-year-old woman was found to be infected with the virus transmitted by one species of tick, the Haemaphysalis longicornis, according to the Korea Centers for Disease Control & Prevention.The infected patient died in Seoul in August last year and four others w
TechnologyMay 21, 2013
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Seoul shares open higher on eased currency woes
South Korean stocks opened higher Tuesday as investors scooped up key exporters amid the eased concerns over the weak Japanese yen, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) increased 4.49 points, or 0.23 percent, to 1,986.92 in the first 15 minutes of trading.Tech blue chips led the gain, with market behemoth Samsung Electronics adding 0.07 percent and top chipmaker SK hynix climbing 0.16 percent. Samsung Techwin, a defense and precision machinery firm, added 0.76 pe
May 21, 2013
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Credit card spending growth continues to slow in April
South Korea's credit card spending grew at a slower pace in April from a year earlier as the economic slowdown continued to dent consumer sentiment, a trade association said Tuesday.Purchases made with plastic cards totaled 44.8 trillion won ($40.1 billion) last month, up 4.5 percent from the 42.9 trillion won tallied a year earlier, according to the data compiled by the Credit Finance Association (CREFIA).The country's card spending sank to an all-time low in February, growing 3.4 percent on-ye
May 21, 2013
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CJ Group raided over slush fund allegations
Prosecutors raided CJ Group, a major local conglomerate, on Tuesday as part of an investigation into allegations that the food and entertainment conglomerate managed a massive slush fund overseas.The prosecution has been looking into suspicions that the business group had set aside a large sum of the fund worth tens of billions of won and brought it into the country.A team of investigators and prosecutors of the Seoul Central District Prosecutors' Office seized computer hard discs and relevant d
IndustryMay 21, 2013
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[Graphic News] Korea’s shift toward service industries stalls
South Korea’s service industries, such as culture, entertainment, social welfare, health care, education and finance, have failed to grow in importance over the past few years.According to research analysts in the stock investment sector, service-based industries are classified as related to the “creative economy,” a key policy area for President Park Geun-hye.Data held by the analysts showed that Korea saw the proportion of national gross domestic product accounted for by these industries stay
May 20, 2013
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[Power Korea] LG CNS provides smart transport solutions
In July 2004, the Seoul Metropolitan Government introduced an integrated public transport payment system, called T-Money, for the first time in Korea. The system, operated by LG CNS, an affiliate of LG Group, allows citizens to travel with a T-Money card, which can be used to pay fares for public transport, including buses, subways and urban railways. The T-Money card provides convenience to its users by charging a differentiated fare based on the distance they travel and offering transfer disco
May 20, 2013
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[Power Korea] Roads ― the arteries of development
The Korea Herald is publishing a series of articles on infrastructure as part of its second installment of Power Korea. Korea’s success story is a 60-year-old tale written by not one, but many who worked to build one of the world’s most powerful nations from the ashes of war. This series features the development and global competitiveness of Korea’s infrastructure. The special articles were made in cooperation with the Ministry of Land, Infrastructure and Transport. This is the second part of th
May 20, 2013
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[Photo News] Support for traditional markets
May 20, 2013