Most Popular
-
1
Korea’s homegrown nanosatellite successfully launches into space
-
2
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
3
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
4
Nicaragua shuts down Seoul embassy
-
5
Hybe's multilabel system tested amid conflict with Ador
-
6
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
7
SNU profs to suspend treatment for one day
-
8
SK hynix pledges W20tr to ramp up DRAM production at home
-
9
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
10
Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
-
LG Uplus increases LTE data capacity
LG Uplus has begun offering new data plans for the Long Term Evolution service from Thursday, almost doubling the data usage capacity offered by rival companies.The third-largest player in the local telecom market said it has already provided the faster network service at cheaper prices than SK Telecom and KT Corp. Amid a surge in data consumption among LTE smartphone users, the company said it has decided to increase the data capacity for same-priced monthly payment plans. Users of the 34,000
IndustryFeb. 2, 2012
-
Business leaders to visit Middle East
The Korea Chamber of Commerce and Industry said Thursday that it will dispatch a business delegation to Turkey, Saudi Arabia and Qatar to align with President Lee Myung bak’s visit to the three countries starting Friday.The economic delegation, which will go on an eight-day business trip, will seek out cooperation possibilities in the fields of resources, construction, engineering, atomic power and new renewable energy with its Saudi Arabian counterpart.The delegation will be made up of about 30
IndustryFeb. 2, 2012
-
Chaebol’s overseas resources rush unprofitable so far
Only 22 of 78 companies posted net profits last yearA slew of Korea’s largest conglomerates rushed into natural resource development abroad over the past four years with government support, but seven out of 10 lost money.Seventy-eight companies under the nation’s top 30 private business groups in asset value were involved in overseas resource development as of last September, according to Chaebul.com. Only 22 of them, or 28.2 percent, however, reaped net profits. Kim Young-hwan, chief of the par
IndustryFeb. 2, 2012
-
POSCO TJ Park Foundation names three winners of annual prizes
POSCO TJ Park Foundation on Thursday named a nano-medicine expert as the winner of its annual TJ Park Prize for science. Cheon Jin-woo, professor of chemistry at Yonsei University, won the award for his research in the use of nanotechnology for medical purposes, according to the steelmaker. Last year he developed a nano thermotherapy that can burn cancer cells without hurting other tissue, which is expected to enhance the treatment of brain cancer and prostate cancer.Kwak Jong-moon, principal o
IndustryFeb. 2, 2012
-
Commission adopts scheme for profit-sharing
A panel on shared growth of large and small businesses agreed Thursday to adopt a new system to give extra points to companies that share benefits with their suppliers starting next year.The panel, headed by former Prime Minister Chung Un-chan, grades large enterprises based on their support of smaller partner companies so that those with higher marks get more government incentives and have an advantage in winning public orders.The nation’s largest businesses had locked horns with Chung over his
Feb. 2, 2012
-
Citroen to reenter Korea in April
French carmaker Citroen will reenter the Korean market in April with its DS3 models, according to its local distributor Hanbul Motors Corp. on Thursday.The launch will resume the import of the French brand under the PSA Peugeot Citroen Group after a decade-long hiatus.“Citroen will resume imports of its cars starting in April this year. Pricing won’t be revealed until right before the launch, but other details will be confirmed by late February,” PR manager Kim Ju-young said. Citroen showcased
IndustryFeb. 2, 2012
-
Dog insurance relaunched
A pet insurance program for dog owners wanting to cover health care expenses at vet clinics is gaining in popularity after being relaunched in November.Insurance sources said about 120 dogs have been subscribed to the insurance program in just two months.According to Samsung Fire & Marine Insurance Co. its Familiaris Dog Insurance pays veterinary costs if the dog becomes ill or injured in an accident. The coverage also includes paying indemnities at an annual fee of 500,000 won ($444,000) for on
IndustryFeb. 2, 2012
-
Shares up 1.28% on eased Europe woes
Korean stocks rose 1.28 percent Thursday as investor sentiment was buoyed by eased eurozone debt concerns, analysts said. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 25.06 points to close at 1,984.3. Trading volume was heavy at 625.8 million shares worth 8.6 trillion won ($7.7 billion) with gainers outnumbering losers 536 to 284.“Good news from Europe removed some of the biggest worries for investors,” said market analyst Kwak Jung-bo
Feb. 2, 2012
-
Hynix posts operating loss for Q4
Hynix Semiconductor posted 2.55 trillion won ($2.27 billion) in total sales and an operating loss of 167 billion won in the final quarter of last year, triggered by the dampened global economy and the weak demand for PC memory chips.The world’s second-largest memory chipmaker said its sales from October-December dropped 7 percent year-on-year and the net loss recorded 240 billion won, a slight improvement from the previous quarter.The consolidated sales for 2011 reached 10.4 trillion won, a 14 p
IndustryFeb. 2, 2012
-
Executives’ buy boosts POSCO shares
POSCO shares staged a brisk rise on Thursday after its executives bought stock en masse to display their confidence and help stabilize the market. The world’s fourth-largest steelmaker said its 73 executives led by chief executive Chung Joon-yang purchased a total of 4,351 shares, worth more than 1.82 billion won ($1.6 million). Chung, who was recently elected to a second term, and president Choi Jong-tae each added 100 to their existing 1,614 and 1,786 shares. Another 70 officials acquired betw
IndustryFeb. 2, 2012
-
Correction of the article ‘FSC staff opposed chief on Lone Star ruling’
On the first page in its Nov. 30, 2011 edition, The Korea Herald, citing financial sources, reported that Financial Services Commission (FSC) chief Kim Seok-dong pushed ahead with the decision to impose a “mild sanction” on Lone Star Funds despite some working-level officials’ resistance.But it was not confirmed that FSC chief Kim pushed ahead with the decision and that there was resistance from working-level officials. We hereby correct the article. This correction was mediated by The Press Arb
Feb. 2, 2012
-
Cigarette price hike fans inflation jitters
Philip Morris International Korea’s recent plan to raise its cigarette prices is fueling concerns over inflation as rumors swirl that its bigger rival KT&G will soon follow suit. The Korean unit of the U.S. tobacco giant is to slap an unexpected price increase averaging 6.8 percent starting Feb. 10 to offset rising raw material and labor costs.The hike, the first in seven years, will send the prices of Marlboro, Parliament and Lark to 2,700 won ($2.4) a pack from the current 2,500 won. Virginia
IndustryFeb. 2, 2012
-
Hana Financial agonizes over Kim’s fate
Chairman may seek term extension or hold other post to resolve KEB takeoverHana Financial Group has remained undecided as to whether to replace or retain incumbent chairman Kim Seung-yu.Kim, whose term expires this March, has expressed his intention to resign. But group spokespeople did not rule out the possibility that his term will be extended.“Outside directors said they will persuade chairman Kim to serve one more term by one year,” a Hana Financial spokesman said Thursday.“Nothing has yet t
Feb. 2, 2012
-
LG targets 35 million units in smartphone sales this year
LG Electronics said Wednesday that it will set a 35-million-unit smartphone sales target this year, with plans for smartphones to grow to 70 percent of its handset portfolio.In an earnings briefing at its headquarters in Yeouido, its chief financial officer Jung Do-hyun said the company will produce less feature phones and focus on the premium smartphone lineup, especially smartphones that run on the fourth generation Long Term Evolution network.“We will not make feature phones if profits aren’t
IndustryFeb. 2, 2012
-
[Status update: Facebook to go public, raise $5B]
NEW YORK (AP) _ Facebook made a much-anticipated status update Wednesday: The Internet social network is going public eight years after its computer-hacking CEO Mark Zuckerberg started the service at Harvard University.That means anyone with the right amount of cash will be able to own part of a Sil
TechnologyFeb. 2, 2012
-
[Hynix swings to red in Q4 on weak demand]
Hynix Semiconductor Inc., the world's second-largest maker of computer memory chips, said Thursday that it swung to the red in the fourth quarter as memory chip prices fell on slowing demand for computers.Net loss amounted to 239.9 billion won (US$213.1 million) in the October-December period, a tur
IndustryFeb. 2, 2012
-
[Apple loses bid to ban Samsung tablet PC, mobile phone]
Apple Inc. lost a bid in a Munich court for a preliminary ban on sales of Samsung Electronics Co.’s Galaxy 10.1N and Galaxy Nexus mobile phone. The Munich Regional Court rejected the motion in a case where Apple invoked a patent granted last year protecting some technology related to touch scre
TechnologyFeb. 2, 2012
-
GSK’s pneumococcal vaccine OK’d for wider age group
GlaxoSmithKline Korea Ltd. said Wednesday that Korea’s drug agency has extended approval for its hot-selling pneumococcal vaccine to be used in babies born premature at 27 to 28 weeks and children up to 5 years old.The expanded approval makes Synflorix the first pneumococcal conjugate vaccine with posology for premature babies in Korea, the local unit of the U.K.-based corporation said. The vaccine was first cleared by the Korea Food & Drug Administration in 2010 for the prevention of invasive
IndustryFeb. 1, 2012
-
[Korean auto sales down 1.7% in Jan.]
Korea’s five automakers led by market leader Hyundai Motor Co. on Wednesday reported a 1.7 percent drop in January sales due to a slump in domestic demand.The combined sales of the carmakers came to 617,506 vehicles in January, compared with 626,806 units sold a year earlier, according to data released by the companies.Their domestic shipments reached a combined 96,448 units last month, down 20 percent from 120,557 a year earlier. Overseas sales, however, including cars exported from South Korea
MobilityFeb. 1, 2012
-
[Lotte opens first overseas duty-free shop in Indonesia]
Lotte Duty Free, a leading Korean retail operator, said Wednesday that it has opened its first overseas shop at Indonesia’s Soekarno-Hatta International Airport.The duty-free shop covers 900 square-meters and will sell various cosmetics, perfume, liquor and tobacco products to travelers using the airport located about 20 kilometers west of Jakarta.The duty-free operator, which is part of the Hotel Lotte chain, said it has also set up an interactive screen featuring Korean pop stars to give its s
IndustryFeb. 1, 2012