Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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[Weekender] How DDP emerged as an icon of Seoul
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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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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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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
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LG opens W400b market to SMEs
LG Group has decided to open up a market worth up to 400 billion won to small and mid-sized companies, and also invest 800 billion won into LG Science Park that is to be created in western Seoul, the company said on Monday.The 400 billion won involves markets for SI ― system integration ― advertisement and construction, with LG opening up the bidding to its smaller vendors and encouraging them to lead up to 50 percent of the projects. Security will be only issue that LG will close its doors on,
IndustryMay 20, 2013
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Korea transfers forestry know-how to Indonesia
Korea launched a four-day educational program on forest-related polices for a group of Indonesian policymakers from May 20-24, according to the Korea Forest Service.“About 15 officials from the Indonesian Ministry of Forestry and Perum Perhutani, an organization given a mandate by the Indonesian government to manage forests in Java and Madura, joined the program,” the KFS said. The program includes field trips and a variety of lectures on forest policy, including the nation’s reforestation and f
May 20, 2013
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FTC sanctions five makers of farming equipment
Korea’s antitrust agency has taken disciplinary measures against five domestic agriculture equipment manufacturers for price collusion.The Fair Trade Commission said Monday it would levy combined fines of some 23.5 billion won ($2110 million) against the five for price fixing products such as combine harvesters, rice planters and tractors.The five companies are: Kukje Machinery, Daedong, Tongyang Moolsan, LS, and LS Mtron. Of the five, the FTC will also seek to have four ― Kukje Machinery, Daedo
IndustryMay 20, 2013
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U.S. dollar overtakes yen as top Korea-Japan trade settlement currency
An increasing number of both Korean and Japanese companies are opting to settle their bilateral trade with the world’s key currency ― the U.S. dollar ― over the Japanese yen.This is due to Japan’s weakening currency since the world’s third largest economy launched fiscal stimulus along with aggressive monetary easing to recover from its two-decade-long stagnant growth.A weaker yen would result in foreign exchange losses for those companies trading goods between the two sides as currency deprecat
May 20, 2013
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BMS focuses on new drug development
A number of global companies in electronics, materials, chemicals and offshore business are relocating their regional head offices or research and development facilities to Korea in light of its technological prowess and growth potential.Now, with the Korean government investing heavily in biosimilars as one of the country’s 10 future growth engines, the market’s importance is growing for multinational pharmaceutical firms such as Bristol-Myers Squibb Company as well.“The Korean government’s pol
BusinessMay 20, 2013
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‘New Zealand wants early FTA with Korea’
Korea and New Zealand started negotiations to conclude a free trade agreement in 2009. But there has been little progress due to differences over certain issues, including Korean farmers’ concern about increased competition.Nevertheless, the head of New Zealand’s trade office in Korea expressed eagerness for a high level free trade agreement with Korea at an early date.“An FTA with Korea will increase trade in both directions. A free trade agreement between New Zealand and Korea is of major impo
BusinessMay 20, 2013