Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over 9,000 hotline calls made by stalking victims in 2023
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DP leader says he will meet Yoon without conditions
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Samsung Heavy Q3 net more than doubles
South Korean shipbuilder Samsung Heavy Industries Co. said Thursday that its third-quarter earnings more than doubled from a year earlier on increased orders for offshore facilities.Net profit reached 277 billion won ($254 million) on a consolidated basis in the July-September period, compared with a profit of 111 billion won a year earlier, the company said.Sales rose 19 percent on-year to 4.06 trillion won over the cited period, and operating income surged 39.2 percent to 324 billion won.In th
Nov. 1, 2012
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Korea, China end FTA talks with little progress
Korea and China ended their fourth round of negotiations for a free trade agreement on Thursday with little progress.But the two sides reached an agreement to include intellectual property in items to be discussed in negotiations.Trade Ministry officials in Seoul said the FTA talks held in Gyeongju, North Gyeongsang Province, did not yield specific results, expressing hope that the two countries would reach a consensus in the next negotiation talks in China.“The Korean government will seek to pr
Nov. 1, 2012
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Hyundai Motor sales hit monthly high
Hyundai Motor, the nation’s largest carmaker, logged its best monthly sales in October, with its global sales increasing by 13.9 percent to reach 412,189 vehicles. It was the first time that the Korean auto giant has ever seen its monthly sales exceed the 400,000 mark, officials said. The record sales came as Hyundai’s overseas production succeeded in meeting the growing demand globally, while the domestic car market also showed some sign of recovery. In Korea, the company sold 61,486 vehicles,
IndustryNov. 1, 2012
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Japanese cans face antidumping duties from Korea
South Korea is moving to freshly impose antidumping tariffs on Japanese aluminium bottle cans, the government said Thursday.Following a yearlong investigation that began at the request of a local manufacturer, TechPack Solutions Inc., the Korea Trade Commission concluded that Japanese products were effectively damaging local manufacturers by preventing them from establishing firm ground for their business here.“The commission’s decision is the first of its kind in which the commission applied an
Nov. 1, 2012
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Instant coffee makers seek success abroad
Some instant coffee mix producers are tapping or aiming at the global stage amid heated competition in the local market.Korea’s typical instant coffee product features three-in-one coffee mix sachets containing powdered coffee, powdered cream and sugar for a single serving.Namyang Dairy has initiated the moves abroad, called “coffee reexports,” by recently making inroads into countries such as China, the United States and Australia.Though the company’s current sales target in the overseas market
IndustryNov. 1, 2012
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Income inequality in rural Korea hits record high
Income inequality in rural South Korea reached its worst level in 2011 due largely to the government’s misguided agricultural policies, a report showed Thursday.The top 20 percent of the rural households earned an average of 74.62 million won ($68,400) in 2011, a whopping 12.3 times the 6.09 million won for the bottom 20 percent, according to the report released by Rep. Hwang Ju-hong of the main opposition Democratic United Party.The income gap between the two brackets was much larger than 9.7 t
Nov. 1, 2012
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Lotte, Hi-mart aim for retail top spot
Lotte Shopping and Hi-mart on Thursday made their merger official by launching their new name, “Lotte Hi-mart,” an entity both parties hope will help take them to the top in the electronics and retail industries. Experts said the acquisition by Lotte Shopping is expected to bring forth a positive synergy effect, despite Moody’s credit rating agency slashing its rating on Lotte, citing likely deterioration in the company’s financial profile. “For now, the M&A is no doubt weighing on Lotte’s finan
IndustryNov. 1, 2012
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Sharapova named Samsung publicity envoy in Russia
Maria Sharapova, one of the world’s best-known tennis players, will promote Samsung electronic appliances in Russia as its goodwill ambassador.Samsung Electronics in Russia appointed the 24-year-old World No. 2 Russian player as its publicity envoy for Russia and the 2014 Sochi Olympics in a ceremony in Moscow, Russia, Wednesday, officials said.Sharapova, a U.S. resident since 1994, had flown to Moscow a day earlier to attend the event. Samsung Electronics seeks to further enhance the image of S
IndustryNov. 1, 2012
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New tree-dwelling tarantulas described
Nine new species of tree-dwelling tarantulas have been identified in central and eastern Brazil, researchers say, bringing the total in the area to 16 species.Arboreal tarantulas -- known from a few tropical places in Asia, Africa, South and Central America, and the Caribbean -- generally have a lighter build, thinner bodies and longer legs than their ground-living cousins, which better suits them for their forest tree habitats, they said.The new species have been reported in the journal Zookeys
TechnologyNov. 1, 2012
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Parental stress linked to child obesity
Stressed-out parents are more likely to have obese children, U.S. researchers suggest. "Stress in parents may be an important risk factor for child obesity and related behaviors," Dr. Elizabeth Prout-Parks, a nutrition specialist at The Children's Hospital of Philadelphia who was the study leader, said in a statement. "The severity and number of stressors are important."Among the parental stressors associated with childhood obesity were poor physical and mental health, financial strain and leadi
TechnologyNov. 1, 2012
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In-flight magazine to go digital, wireless
A Norwegian airline and an in-flight magazine publisher say they will use WiFi to bring airline passengers new options in in-flight entertainment.Norwegian Air Shuttle and Ink, which provides magazines for about 30 airlines around the world, said they would debut the new system next year, The New York Times reported.Using Norwegian Air Shuttle's free WiFi service, passengers will be able to access content including music, video and travel articles from the carrier's in-flight magazine on their s
IndustryNov. 1, 2012
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Korea's consumer prices gain 2.1 pct on-year in Oct.
South Korea's consumer prices grew at the fastest pace in four months in October due mainly to an increase in prices of farm products, a government report showed Thursday.The country's consumer prices index rose 2.1 percent in October from a year earlier, compared with a 2 percent on-year gain in the previous month, according to the report by Statistics Korea. The index fell 0.1 percent from September when the consumer prices rose 0.7 percent on-month.The so-called core inflation, which excludes
Nov. 1, 2012
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How far will Apple fall?
Apple Inc. has long been about infinitely more than just gadgets and devices; it became as iconic as an IT brand could get. Profit and stock prices aside, the fact that it garnered a spot on every hip youngster’s Christmas wish list was proof enough of its success.Now there are questions about whether it could follow in the footsteps of RIM and Nokia, one-time industry leaders who are now becoming mere shadows of their former selves. Apple certainly isn’t on its deathbed, far from it ― it’s stil
IndustryOct. 31, 2012
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Korean passengers too pampered?
AirAsia, the world’s largest budget carrier, recently launched a new route connecting Incheon and Narita, offering a special price for a one-way ticket at 30,000 won (less than $28) with all taxes included. The 4,000 prepared tickets sold out immediately via the company’s website between Oct. 11-17. But intense competition aside, some complaints surfaced even among the lucky customers who purchased the tickets. They didn’t know that they could be charged to use additional services like a meal on
IndustryOct. 31, 2012
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‘House poor’ become social issue
The number of so-called “house poor,” or burdened by mortgage and loan debt, has emerged as a social woe amid the protracted slump in the property market.When real estate prices surged between 2005 and 2006, many middle-income earners purchased houses that were out of their budget and have been financially pinched after housing prices plummeted following the 2008 global crisis.The number of “high-risk” house poor, or those with no ability to pay off their mortgage debt in full even if they sell
IndustryOct. 31, 2012
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KEPCO unit wins $1b deal from Jordan
KEPCO Plant Service & Engineering Co., a South Korean industrial plant builder, said Wednesday that it has signed a $1 billion deal for the operation and maintenance of a power plant in Amman, the capital of Jordan. Under the deal with Amman Asia Electric Power Company, KPS said it will operate and maintain the power plant for 25 years and six months for the AAEPC.KPS is a subsidiary of Korea Electric Power Corp., South Korea’s state-run power provider. The power plant is located in an area 30 k
IndustryOct. 31, 2012
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STX to sell 43.1% stake in energy unit to Orix
STX Group said on Tuesday it has signed a contact with Orix Corp., a Japanese financial company, to sell a 43.1 percent stake in STX Energy, the group’s energy business arm. Under the deal, the group aims to raise 360.1 billion won ($330 million).Despite a hefty sell-off, STX Group will continue to keep its management rights in the affiliate with a more than 50 percent stake, the company said. The main businesses of STX Energy are power plant construction and energy development. Orix has investe
IndustryOct. 31, 2012
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Samsung, LG win top spots on Consumer Reports
A smartphone produced by Samsung Electronics Co. and household appliances made by LG Electronics Inc. have been chosen as the best products of the year by an authoritative U.S. magazine, industry sources said Wednesday.Consumer Reports gave the South Korean tech giant’s Galaxy S3 smartphone the highest marks out of similar products tested.Samsung’s two-door refrigerator and 32-inch and 60-inch liquid crystal display TVs and 60- to 64-inch plasma display panel TVs also received the highest rankin
IndustryOct. 31, 2012
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Nation’s IT giants to hire more overseas Koreans
The nation’s big enterprises and information technology-oriented venture firms will hold a job fair in Silicon Valley in the United States in November to recruit overseas Koreans.The job fair, slated for Nov. 12-13 in Santa Clara, California, is part of the first premier technology conference organized by the Ministry of Knowledge Economy.Among the estimated 30 sponsors and recruiters are Samsung Electronics, LG Electronics, SK Hynix and Asiana Airlines.Ministry officials said the recruitment ta
IndustryOct. 31, 2012
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Shares gain on institutional buying
South Korean stocks closed 0.66 percent higher on institutional buying on Wednesday, despite the market fretting over the U.S. presidential election next week, analysts said. The local currency gathered ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index finished up 12.50 points to 1,912.08. Trading volume was moderate at 391.7 million shares worth 3.76 trillion won ($3.44 billion) with gainers outpacing losers 562 to 257. “The new U.S. administration will most likely
Oct. 31, 2012