Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
Medical reform committee kicks off despite boycott from doctors
-
3
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
4
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
-
5
DP leader says he will meet Yoon without conditions
-
6
Over 9,000 hotline calls made by stalking victims in 2023
-
7
Second Gimpo civil servant found dead, after apologizing for not finishing work
-
8
[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
-
9
Monthly users on local streaming platforms outpace Netflix, Disney+
-
10
US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
-
Shares end flat amid stimulus hopes
South Korean stocks closed almost unchanged Tuesday as hopes of the government’s stimulus measures pared down morning losses following overnight falls on Wall Street, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 1.76 points, or 0.09 percent, to finish at 1,922.21. Trading volume was moderate at 377.5 million shares worth 4.78 trillion won ($4.29 billion) with losers outnumbering gainers 464 to 350. The KOSPI fell to 1,896.
April 16, 2013
-
Celltrion chief to sell entire stake to multinational firm
Celltrion chairman Seo Jung-jin said Tuesday he will sell all of his stakes in the company with the largest market cap in the KOSDAQ and its affiliates, including Celltrion Healthcare, to a multinational pharmaceutical company.“Company funds are being used to buy company shares due to shortselling (by unknown groups),” Seo said in a press conference.“I will sell stakes in Celltrion to a multinational pharmaceutical firm as early as May or no later than the end of June for the company’s sake.” Th
IndustryApril 16, 2013
-
LG, IBK commit W200b to mutual growth
LG Group has created a 200 billion won ($179 million) fund together with the Industrial Bank of Korea to help finance low-interest loans for up to 500 small and mid-sized suppliers, the Seoul-based company said Tuesday. LG Electronics, LG Display, LG Chem and LG Household & Healthcare were the four LG affiliates that played a key role in creating the fund, in joint efforts with the local bank specializing in financing businesses here. The fund will offer loans that will offer interest up to 2.4
IndustryApril 16, 2013
-
Land Ministry to aid overseas infra projects
The government will support local builders to diversify overseas plant orders and to win more infrastructure projects in a bid to put the faltering construction industry back on track, officials said Tuesday. “The cutthroat competition among the nation’s leading builders in pursuit of the same overseas orders has been prevalent, and the business practice is dealing a blow to the entire industry,” Land, Infrastructure and Transport Minister Suh Seoung-hwan said in an interview with a local cable
IndustryApril 16, 2013
-
Leaders of biologic drugs industry kick off conference
Biologic drug developers and bioprocess professionals from around the world will kick off a two-day conference in Incheon on Wednesday.In Biologics World Korea 2013, biologic players at various stages of development will discuss strategies in biosimilar and biobetter development as well as cutting-edge advances in bioprocessing and bioanalytics.According to IMAPAC, which organized the event, the global biologics market is valued at an estimated $149 billion and is expected to reach $230 billion
IndustryApril 16, 2013
-
What’s eating working moms?
Korea has one of the highest rates of college graduates in the world, with over 80 percent of high school graduates going to university. About half of them are women.However, only 3 out of 5 female university graduates in the country are employed, showing the lowest rate among the 33 members of the Organization for Economic Cooperation and Development. Economists worldwide including OECD Secretary-General Angel Gurria have pointed to the low participation of women in the labor force as a major r
April 16, 2013
-
Massive Russian transport project attracting Korean firms and investors
South Korea’s trade officials and their Moscow counterparts have agreed to cooperate for a landmark project in the Russian city aimed at building 55 major hubs in what is dubbed the “Transportation Interchange Hub.”SAABAA International Limited, a company in charge of attracting Korean partners and investors, said progress has been made in the massive project worth $10 billion so that Korean companies could share their expertise and secure investment opportunities. “Advanced technology and know-h
IndustryApril 16, 2013
-
Diageo Korea to launch charity, donate 5b won
Imported whiskey distributor Diageo Korea announced on Tuesday it will launch a foundation to further strengthen its social contribution activities.The hard liquor distributor told press its plan to donate 5 billion won over the next five years through the Diageo Korea Foundation, which begins operation on July 1. They plan to set aside 1 billion won each year. Shortly after the announcement, Diageo Korea signed a cooperative pact with the Ministry of Gender Equality and Family, vowing to prior
IndustryApril 16, 2013
-
Seoul shares end flat amid stimulus hopes
South Korean stocks closed almost unchanged Tuesday as hopes of the government's stimulus measures pared down morning losses following overnight falls on Wall Street, analysts said. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.76 points, or 0.09 percent, to finish at 1,922.21. Trading volume was moderate at 377.5 million shares worth 4.78 trillion won (US$4.29 billion) with losers outnumbering gainers 464 to 350. The KOSPI
April 16, 2013
-
KOSPI dives below 1,900 as economic worry grows over U.S. terror attack
South Korean stocks plunged 21.44 points, or 1.12 percent, on Tuesday morning, as economic worry was growing over the suspected terrorist attack in the United States and rising losses in techs and autos. The benchmark Korea Composite Stock Price Index (KOSPI) fell to 1,899.40 as of 11:07 a.m. It marked the first time the index hovered below the 1,900 mark since November. Tech blue chips lost ground, with market behemoth Samsung Electronics falling 1.05 percent and its smaller rival LG Electr
April 16, 2013
-
Antarctic summer ice melt accelerating: study
Researchers in Britain and Australia have claimed that Antarctic summer ice melting is occurring 10 times faster than it did 600 years ago.In 2008, Britain-French scientists examined a 362-meter long ice core from James Ross Island in Antarctica to figure out the past 1,000 years of temperature changes in the region.By reexamining the 2008 study, researchers at Australian National University and the British Antarctic Survey discovered that the temperature of the ice core was 1.6 degrees Celsius
TechnologyApril 16, 2013
-
A clue to treat chronic leukemia identified: study
A research team including a Korean scientist reportedly identified an oncogene that can lead to atypical chronic myelogenous leukemia.Atypical chronic myelogenous leukemia, or aCML, is a rare form of the disease that occurs in only 5 percent of all leukemia cases. It shares similar characteristics with typical chronic myelogenour leukemia, but lacks cancer characteristics. In the study, researchers analyzed the gene sequencing of some 650 patients suffering from aCML and other cancer-related ill
TechnologyApril 16, 2013
-
S. Korea eyes extra $194m for defense spending
The defense ministry said Tuesday it will submit a 217.4 billion won ($194.3 million) supplementary budget to the parliament for approval to increase spending on weapons on the frontlines and shelters on border islands to better counter North Korean threats amid high tensions.The Cabinet approved an extra budget worth 17.3 trillion won for this year in a bid to revitalize the economy faced with gloomy market conditions at home and abroad. The budget is the largest since 2009 when the nation unve
April 16, 2013
-
S. Korea draws up 17.3 tln won extra budget to revive economy
South Korea on Tuesday drew up an extra budget worth 17.3 trillion won ($15.4 billion) for this year in a bid to revitalize its economy faced with gloomy market conditions at home and abroad.The budget plan, which was endorsed by a Cabinet meeting, is the largest since 2009 when the nation unveiled 28.4 trillion won in additional spending in the wake of the global financial crisis.The proposal for the latest extra budget, which will come on top of a 342 trillion won annual budget for 2013, will
April 16, 2013
-
Seoul shares open lower on U.S. losses
South Korean stocks got off to a weak start on Tuesday, tracking overnight losses on Wall Street sparked by worse-than-expected Chinese growth data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 9.95 points, or 0.52 percent, to 1,910.50 in the first 15 minutes of trading.Shares lost ground across the board, with market behemoth Samsung Electronics falling 0.26 percent and top auto parts maker Hyundai Mobis losing 0.37 percent. Leading steelmaker POSCO also move
April 16, 2013
-
Woori Finance set to kick off process to select new head
Woori Finance Holdings Co., South Korea's top banking group, is likely to launch a committee next week to select a new head to replace Chairman Lee Pal-seung, officials said Monday.Chairman Lee offered to resign from the top post of the state-owned Woori Finance on Sunday, 11 months ahead of the official end of his term, as political pressure mounts.A seven-member committee to select a new chief is likely to be launched on Tuesday when a board meeting will be held, according to officials. A shar
April 15, 2013
-
KT drops bid for Moroccan telecom firm
KT Corp., South Korea's top fixed line and No. 2 mobile operator, said Monday that it will not participate in a final bid for a stake in a Moroccan telecom operator due to differences over price.In a regulatory filing, KT said it has decided not to bid for the 53-percent stake in Maroc Telecom, which is controlled by French multimedia giant Vivendi SA."But we will seek various cooperation with Morac Telecom depending on the situation," it said.KT has been seeking to expand its global business in
IndustryApril 15, 2013
-
Officials lock horns over lottery sales cap
Commissions of the Ministry of Strategy and Finance and the Prime Minister’s Office have been apparently locked in confrontations over the lottery sales cap imposed by the latter, according to industry sources on Monday.Last month, the Lottery Commission, which is under the wing of the Finance Ministry, asked the National Gaming Control Commission, a gambling regulator of the Prime Minister’s Office, for an elimination of the sales ceiling.The Lottery Commission suggested that lotteries do not p
April 15, 2013
-
Hyosung pioneers world-leading products
Hyosung Group has sought to improve people’s lives by developing products with its own technology in its core businesses ranging from fiber to industrial material and power distribution equipment. Hyosung’s best known product is Creora, the firm’s spandex brand. Spandex is a synthetic fiber used for a variety of end-user products based on its exceptional elasticity, including women’s lingerie and stockings, and baby diapers. Few textile companies in the world have created their own spandex bran
IndustryApril 15, 2013
-
[Power Korea] Hyosung seeks global supremacy in core businesses
The Korea Herald is publishing a series of articles titled Global Brand as part of the first 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 Global Brand series is designed to honor those who made this Korean Dream come true. This is the 15th part of the Global Brand series. ― Ed.Hyosung Group, the nation’s 26th-largest conglomerate by assets in 2012, has
IndustryApril 15, 2013