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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Rapper jailed after public street fight with another rapper
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[Weekender] How DDP emerged as an icon of Seoul
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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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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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Watchdog rejects bids for 4th mobile carrier
South Korea’s communications watchdog on Friday turned down bids by two local firms to set up the country’s fourth mobile operator, citing their insufficient financing. Following evaluations of proposals submitted by Korea Mobile Internet and Internet Space Time, the Korea CommunicationsCommission (KCC) concluded the two firms were inadequate candidates for its plan to approve a new market player. Both firms were excessively optimistic in their market outlook, and their financing and technology
IndustryFeb. 1, 2013
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Hankook Tire posts record global sales
Hankook Tire, Korea’s biggest tire maker, posted record global sales in 2012, thanks to brisk sales of its premium tires to luxury automobile manufacturers worldwide.Revenue of Hankook Tire reached over 7 trillion won in 2012, up 8.3 percent from 6.4 trillion won a year earlier, according to consolidated financial statements.Its operating profit reached some 913 billion won, up 57.9 percent from 578 billion won in the same period.The company attributes its record-breaking revenue to increased su
IndustryFeb. 1, 2013
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Korea Hydro bids for Finnish nuclear power project
Korea Hydro & Nuclear Power, a state-run nuclear power plant operator, said on Friday that it submitted its bid for a nuclear power project launched by TeollisuudenVoima, a Finland-based utility company.This marks the first time for a Korean power company to seek a nuclear power deal in Europe that has been traditionally dominated by advanced European players. Korea Hydro will be competing to build TVO’s Olkiluoto-4 plant with KEPCO Engineering & Construction, Doosan Heavy Industries & Construct
IndustryFeb. 1, 2013
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Newly merged SK Planet launches
The newly merged corporate body of SK Planet and SK Marketing & Company launched on Friday, its officials announced.The new platform company named SK Planet will be responsible for SK Planet’s existing projects like T-Store, T-map and online shopping mall 11st, along with SK M&C’s OK Cashbag, advertisements and location-based services.The firm will also be in charge of digital content, new commerce and marketing communication activities as well as discovering new growth projects targeting the ov
IndustryFeb. 1, 2013
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Time for next level in Korea-Arab ties: expert
Relations between Korea and the Arab world are too heavily skewed toward economic cooperation and it’s time now to create the right balance by taking them to the next level, according to a top Middle East expert.“If the two partners are to maintain and develop their intimate economic ties, they must first learn to truly understand the other,” Chung Yong-chil, secretary-general of the Korea-Arab Society, told The Korea Herald in an interview.The nonprofit organization was established in 2008 unde
Feb. 1, 2013
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Seoul shares sinks 0.21 pct on lingering woes
South Korean stocks ended 0.21 percent lower on Friday as investors stepped to the sidelines amid lingering concerns over economic uncertainties and ahead of the release of U.S. jobs data over the weekend, analysts said Friday.The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) dipped 4.15 points to 1,957.79. Trading volume was moderate at 378.1 million share worth 4 trillion (US$3.7 billion), with decliners dwarfing gainers 534 to 273."There w
Feb. 1, 2013
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Controversial video game ‘GTA V’ to be released on Sept. 17
New follow-up of action video game series “Grand Theft Auto,” which has provoked controversies over its violent and suggestive descriptions, will be globally released in September. U.S.-based game developer Rockstar Games announced in an official statement on Friday that the release date of “GTA V” has been fixed to Sept. 17. The title was previously scheduled to be launched early this year, but the developer later said that the game needs more time to complete. “The company apologi
TechnologyFeb. 1, 2013
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LG rolls out new high-quality package earphone
LG Electronics released new high-performance earphones dubbed “Quad Beat 2” which is expected to be included in the company’s next flagship smartphone “Optimus G Pro” package.“Quad Beat 2” is a follow-up model to “Quad Beat,” which has enjoyed popularity with Korean smartphone users as its performance surpassed expectations for standard headphones provided as a part of cellphone package.The mobile phone manufacturer announced through its official blog on Friday that it successfully developed “Qu
TechnologyFeb. 1, 2013
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Samsung’s Lee wins inheritance court battle
The Seoul District Central Court on Friday sided with Samsung Electronics chairman Lee Kun-hee by dismissing the claims by his elder brother Lee Maeng-hee for around 4.8 trillion won ($4.4 billion) of the Samsung fortune.Lee was joined by a few other members of the Samsung family who felt they were shortchanged in their rightful inheritance from the late Lee Byung-chull, their father and founder of Samsung. In the ruling for the first trial on the case, the judge said that “the time has expired
IndustryFeb. 1, 2013
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Poor sleep in old age prevents memories
In older adults, memories may get stuck in part of the brain due to the poor quality of sleep and are then overwritten by new memories, U.S. researchers say. Senior author sleep researcher Matthew Walker of the University of California, Berkeley, said the slow brain waves generated during the deep restorative sleep play a key role in transporting memories from the part of the brain which provides short-term storage for memories to the part of the brain that stores long-term memories. However, in
TechnologyFeb. 1, 2013
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SK Innovation Q4 net up 50.8 pct on strong won
SK Innovation Co., the holding company of South Korea's biggest refiner, said Friday that its net income rose 50.8 percent in the fourth quarter from a year earlier thanks to a strong won. Net profit came to 228 billion won (US$209.5 million) in the October-December period, compared with 151 billion won a year ago, SK Innovation said in a regulatory filing. Sales rose 1.4 percent on-year to 17.15 trillion won, but operating profit fell 44.1 percent to 202 billion won, the company said."The South
IndustryFeb. 1, 2013
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Seoul shares down 0.68 pct in late-morning trade
South Korean stocks traded 0.68 percent lower late Friday morning as investors took to the sidelines ahead of a U.S. jobs data release this weekend, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.25 points to 1,948.69 as of 11:20 a.m.Large caps were mixed. Market bellwether Samsung Electronics lost 1.31 percent but auto-parts maker Hyundai Mobis gained 1.4 percent.Doosan Heavy Industries & Construction sank 6.98 percent on rumors about a rights issue.The local curr
Feb. 1, 2013
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Seoul shares turn lower after strong open
South Korean stocks shifted to negative territory after opening higher as investors took to the sidelines ahead of the expected release of U.S. jobs data this weekend, analysts said Friday.The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.62 points, or 0.18 percent, to 1,958.32 in the first 15 minutes of trading.Market bellwether Samsung Electronics slipped 0.14 percent and top oil refiner SK Innovation fell 1.46 percent.In contrast, autos outperformed the KOSPI, with auto-parts mak
Feb. 1, 2013
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Apple loses on Samsung’s Galaxy Nexus
Apple Inc. failed to persuade a U.S. appeals court to review its decision that allows Samsung Electronics Co. to continue selling the Galaxy Nexus smartphone while a patent-infringement case is pending. An October decision, which said Apple needed to show that the patented search feature was a key reason consumers bought the Samsung phone, will stand, the U.S. Court of Appeals for the Federal Circuit said in an order posted yesterday on its electronic docket. Apple sought to have the earlier dec
IndustryFeb. 1, 2013
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KT’s operating profit tumbles in Q4
The fourth-quarter operating profit of KT, the country’s second-largest mobile carrier, tumbled as much as 76 percent compared to the same period in the previous year due to increased facility spending and slower sales in fixed-line services.The company said that it recorded 51 billion won ($46.5 million) in operating profit and 93.6 billion won in net profit in the October-December 2012 period -- down nearly 55 percent from the final quarter of 2011. Quarterly sales, however, edged up by 3.6 pe
BusinessFeb. 1, 2013
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S. Korea logs trade surplus on sound exports in Jan.
South Korea's trade balance made a positive turnaround from a year earlier last month as the growth of its exports outpaced that of imports, the government said Friday.The country's exports surged 11.8 percent from the same period last year to US$46.08 billion in January, according to the Ministry of Knowledge Economy. Imports grew 3.9 percent on-year to $45.21 billion, leaving a $874 million trade surplus.Last month's trade surplus compares with a $2.3 billion deficit posted in the same month l
BusinessFeb. 1, 2013
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S. Korea's consumer prices grow 1.5 pct on-year in Jan.
South Korea's consumer prices grew at a faster pace in January from a month earlier, but the gain remained in the 1-percentage range for the third straight month, a government report showed Friday.The country's consumer prices index rose 1.5 percent in January from a year earlier, compared with a 1.4 percent on-year gain in December, according to the report by Statistics Korea. From a month earlier, it grew 0.6 percent.The on-year figure marked the third straight month that the price growth has
Feb. 1, 2013
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Satellite in orbit, working normally
Korea’s newest scientific satellite made initial communication with a ground station in Daejeon early Thursday, finally confirming the success of the nation’s first successful launch of a space rocket from its own soil. The Korea Space Launch Vehicle-1 rocket, jointly built by Korean and Russian scientists, launched from the Naro Space Center in Goheung, South Jeolla Province, at 4 p.m. Wednesday. The rocket put a 100-kilogram Science and Technology Satellite-2C into orbit about nine minutes aft
TechnologyJan. 31, 2013
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Some favorable economic indices, but government officials cautious
Officials in the Finance Ministry and Statistics Korea have raised the possibility that the sagging economy will gradually vitalize in the coming months, citing favorable indices in the industrial sector.They took a prudent stance, however, on publicizing a positive outlook. They stressed that “as uncertainties at home and abroad still remain,” risk factors must be closely monitored to attain national economic recovery.Concerning the December data for industrial output from the state-run Statist
Jan. 31, 2013
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Conglomerates barred from entering restaurant biz
The nation’s conglomerates are set to be prohibited from starting new restaurant businesses or merging with existing ones under a state-funded panel’s plan to add eateries to the list of trades suitable for only small- and medium-sized firms.Franchises such as Nolbu and Saemaeul Restaurant, which have up to 700 stores nationwide, will be banned from opening too close to each other as they are believed to be threatening mom-and-pop eateries.About 30 chaebol subsidiaries including Lotteria, CJ Foo
IndustryJan. 31, 2013