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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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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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KT launches new mobile plans for foreign residents
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Hyundai-Kia shows little sign of recovery in domestic sales
Korea’s two biggest automakers Hyundai and Kia suffered slowing car sales on its home turf last month as their smaller rivals ― GM Korea, Renault Samsung Motors and Ssangyong Motor ― continued their recent sales momentum, data from companies showed Monday. The largest company Hyundai Motor said it sold 388,539 vehicles globally last month, 0.9 percent growth from the year before. In Korea alone, its car sales increased only 0.1 percent to 56,056 vehicles during the same period largely due to the
IndustryApril 1, 2013
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Samsung to lead earnings spree
Samsung Electronics is expected to post the record-high earnings of about 10 trillion won ($9.17 billion) during the second quarter this year, according to a financial information provider.The Korean tech giant is projected to see its operating profit come to 9.8 trillion won in the April-June period of 2013, up 53.4 percent from the same period last year, according to FnGuide.It cited the currency market stabilization and the government’s package of measures to boost the economy for its rosy ou
IndustryApril 1, 2013
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Ex-minister named chairman of S&T Dynamics
Former Information and Communication Minister Bae Soon-hoon, 69, has been appointed the new chairman of S&T Dynamics, the company said Monday. S&T Dynamics, founded in 1959, is a local manufacturer of automotive parts, defense products and machine tools. Bae, who also served Daewoo Electronics as chairman in the mid-1990s, will oversee the new product and technology department tasked with leading the future growth of the company. (jyseo@heraldcorp.com)
IndustryApril 1, 2013
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Korea’s trade surplus widens to $3.35b in March
South Korea’s trade surplus widened sharply in March from a year earlier as exports inched up while imports dwindled, the government said Monday.The country chalked up a trade surplus of $3.35 billion last month, compared with $2.28 billion a year earlier, according to the Ministry of Trade, Industry and Energy. Exports gained 0.4 percent on-year to $47.49 billion, while imports dropped 2 percent to $44.14 billion. March marked the 14th consecutive month the country’s trade balance stayed in the
April 1, 2013
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Dongbu Daewoo Electronics sails under new name
South Korean electronics maker Daewoo Electronics Corp. said Monday it has changed its company name to Dongbu Daewoo Electronics Corp. following a takeover by local conglomerate Dongbu Group.The country’s No. 3 home appliance maker was acquired by Dongbu Group for 272.6 billion won ($244.3 million) deal in February, ending its decade-long quest to find a new owner after five rounds of botched talks with potential buyers such as Iran’s Entekhab Industrial and Morgan Stanley Private Equity.Dongbu
IndustryApril 1, 2013
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Companies increase cashable assets amid economic woes: data
The nation’s largest conglomerates are choosing to hold more of their earnings in cashable assets as they find it harder to invest amid growing economic uncertainties.Cashable assets include cash, cash equivalents and other short-term financial products with a maturity of less than three months that can be immediately cashed with little cost.“Companies are increasing their cashable assets due to high economic uncertainties,” said Jeong Sun-sup, head of Chaebul.com, which tracks the business mamm
IndustryApril 1, 2013
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‘Time is now’ for investment in Myanmar: chamber chief
Amid global competition for natural resources, Myanmar remains one of the world’s few remaining frontiers whose potential is yet to be realized, said a Myanmar business leader in Seoul.“In addition to its exquisite geographical location and untapped natural resources, Myanmar is also a young and dynamic country,” U Win Aung, president of Myanmar’s Federation of Chambers of Commerce and Industry, said in an interview with The Korea Herald last week. Some 54 percent of its 60 million people are in
April 1, 2013
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Korea-Turkey FTA to take effect May 1
The Korea-Turkey Free Trade Agreement will enter into force officially on May 1, the Ministry of Trade, Industry and Energy announced on Monday. “Once the FTA takes effect in May, Korea and Turkey will eliminate tariffs on all industrial goods within seven years,” a ministry official said. The trade deal was officially signed on Aug. 1, 2012, but its implementation had been delayed until its approval by Turkey’s parliament. South Korea’s National Assembly ratified the bilateral FTA late last yea
IndustryApril 1, 2013
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Toyota drives toward harmony
Toyota, the Japanese carmaker that has become a favorite among Korean car lovers for its practical yet sleek Camry, is out to pursue “harmony” with its newest lineup of cars unveiled at the Seoul Motor Show last week. “We’re all about harmony ― harmony between different generations and harmony between all types of roads, including on and off,” said Toyota Motor Korea chief executive Tommy Nakabayashi, in Korean no less, during the presentation last week to showcase Toyota’s newest toys.Among the
MobilityApril 1, 2013
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BMW up to the challenge: CEO
BMW, undeniably one of the hottest-selling imported cars in the Korean market today, was on fire this week at the Seoul Motor Show where it unveiled a record number of cars and motorbikes ― 26, to be exact. Among the plethora of models, the BMW New 3 Series Gran Turismo, the New M6 Gran Coupe and the New Z4 were showcased for the first time in Asia. As some of the most heart-stopping models at the show, the cars were an indication of the challenges BMW is eager to meet, according to BMW Korea’s
MobilityApril 1, 2013
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Kumho chairman offers cash to 12 cancer-suffering employees
Kumho Asiana Group chairman Park Sam-koo delivered cash support last weekend to 12 employees diagnosed with cancer, group officials said Monday.The decision came after a Kumho Tire employee was recently confirmed to have contracted tracheal cancer. After receiving the latest news, the chairman gave the order to find if there were other cancer patients or those with severe diseases at any of the group’s affiliates. The group found a total of 12 employees had been on sick leave. Park then deliver
IndustryApril 1, 2013
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Female students just as capable in math: study
Contrary to popular belief that men outperform women in math and science, a new study claims that both genders tend to show similar achievement, while Asian-Americans are the highest achievers among ethnic groups in the U.S.The study, to be released in the Psychology of Women Quarterly, was conducted on 367 male and female 10th graders, consisting of African-Americans, Hispanic-Americans and Asian-Americans. The results revealed that male and female students showed similar performances in math a
TechnologyApril 1, 2013
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Korea-Turkey FTA to take effect May 1
The Korea-Turkey Free Trade Agreement will enter into force officially on May 1, the Ministry of Trade, Industry and Energy announced on Monday. “Once the FTA takes effect in May, Korea and Turkey will eliminate tariffs on all industrial goods within seven years,” a ministry official said. The trade deal was officially signed on Aug. 1, 2012, but its implementation had been delayed until its approval by Turkey‘s parliament. South Korea’s National Assembly ratified the bilateral FTA late last yea
April 1, 2013
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Morning smokers have higher cancer risk
The sooner a smoker lights up upon waking in the morning, the more likely he or she is to acquire lung or oral cancer, U.S. researchers say.Steven Branstetter, assistant professor of biobehavioral health at Pennsylvania State University, said NNK (4-(methylnitrosamino)-1-[3-pyridyl]-1-butanone) induces lung tumors in several rodent species. Levels of NNAL (4-(methylnitrosamnino)-1-(3-pyridyl)-1-butanol) in the blood can therefore predict lung cancer risk in rodents as well as in humans."We found
TechnologyApril 1, 2013
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Arctic ‘greening’ seen through global warming
Land within the Arctic circle is likely to experience explosive "greening" in the next few decades as grass, shrubs and trees thrive in soil stripped of ice and permafrost by global warming, a study said on Sunday.Wooded areas in the Arctic could increase by as much as 52 percent by the 2050s as the so-called tree line -- the maximum latitude at which trees can grow -- shifts hundreds of kilometers north, according to computer simulations published in the journal Nature Climate Change."Such wide
TechnologyApril 1, 2013
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S. Korea's consumer prices grow 1.3 pct on-year in March
South Korea's consumer prices increased at a slower pace in March, keeping its on-year growth in the 1-percent range for the fifth straight month, a government report showed Monday.The country's consumer prices index rose 1.3 percent on-year in March, slowing from a 1.4 percent gain in the previous month, according to the report by Statistics Korea. From a month earlier, it dropped 0.2 percent.The on-year figure represents the fifth straight month since November that the price growth has stayed
April 1, 2013
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Ministries to unveil plan to boost housing market
The government plans to announce its first set of measures aimed at reviving the sluggish real estate market on Monday.The comprehensive plan would likely include various tax cuts on housing transactions. The Finance Ministry and the Ministry of Land, Infrastructure and Transport have been drawing up the measures.The government had said that it would announce the housing plan before it devised an extra budget to secure funding for job creation and SMEs. The supplementary budget will likely take
March 31, 2013
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[Graphic News] Galaxy most valuable brand in Korea
Samsung Electronics’ Galaxy smartphone line was ranked first in a survey of Korea’s top 100 brands in the first quarter, a local brand equity evaluator said Sunday. According to the survey by Brand Stock, the nation’s most popular smartphone brand retained the top spot for the second consecutive year with the highest score of 938. E-mart, the nation’s largest discount franchise, came in second. Olleh, the flagship brand of KT, was named the third-most popular brand in Korea. KB Kookmin Bank and
March 31, 2013
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[Newsmaker] FTC nominee Noh to face uphill confirmation
Korea Fair Trade Commission nominee Noh Dae-lae is expected to face a tough grilling at confirmation hearings as opposition lawmakers have questions over his positions on issues concerning conglomerates and weapons procurement.The former bureaucrat for the Ministry of Strategy and Finance has been known to be against further stringent rules on the equity structures of conglomerates.When the antitrust watchdog set out to introduce tougher measures on big businesses’ web of complex cross-sharehold
IndustryMarch 31, 2013
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Overseas construction orders surge 56% in Q1
Overseas orders won by South Korean builders surged significantly in the first quarter from a year earlier, the construction ministry said Sunday, reflecting a possible recovery in the global construction market.According to the Ministry of Land, Infrastructure and Transport, overseas deals signed by South Korean construction companies totaled $12.5 billion in the January-March period, up 56 percent from the same period last year.The ministry noted the figure fell a little short of the five-year
March 31, 2013