Most Popular
-
1
Korea’s homegrown nanosatellite successfully launches into space
-
2
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
3
Nicaragua shuts down Seoul embassy
-
4
Hybe's multilabel system tested amid conflict with Ador
-
5
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
6
SNU profs to suspend treatment for one day
-
7
SK hynix pledges W20tr to ramp up DRAM production at home
-
8
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
9
Ministry denies blame for Jamboree debacle
-
10
Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
-
Samsung promotes chip, LCD head to vice chairman
SEOUL, Dec. 7 (Yonhap) -- Samsung Group said Wednesday it has promoted Kwon Oh-hyun, the president of Samsung Electronics Co.'s semiconductor and display operations, to vice chairman as part of an annual year-end management reshuffle. Kwon led Samsung's semiconductor division since 2008. His role at
IndustryDec. 7, 2011
-
Samsung to set up new flash memory plant in China
Samsung Electronics Co., the world’s second-largest maker of memory chips, said Tuesday it is seeking to build a new production line in China to manufacture flash memory chips in response to rising demand for mobile devices. The company applied for a permit from the South Korean government to build its second overseas production line for producing NAND flash devices based on the 20-nanometer class process technology, it said in a statement. If authorization is given and construction begins on sc
TechnologyDec. 6, 2011
-
NPS mulls raising investment money from abroad: chief
South Korea’s national pension fund service has proposed a plan to the government to secure U.S. dollars from abraod to be used for overseas investments, its chief said Tuesday, raising hopes for the stabilization of the local currency market.“The National Pension Service has proposed a plan to the government to raise U.S. dollars for overseas investment from abroad instead of from the local foreign exchange market,” NPS chairman Jun Kwang-woo told the Yonhap News Agency during a telephone inter
Dec. 6, 2011
-
Korea to closely monitor economic conditions amid uncertainties
South Korea will closely monitor economic conditions at home and abroad amid heightened uncertainties over the eurozone debt crisis and a possible global slowdown, the Finance Ministry said Tuesday.“Uncertainties remain high as the eurozone fiscal crisis deepens and there is a chance that the global economy could slip into a slowdown,” the ministry said in its monthly report on the latest economic conditions. “It is necessary (for us) to closely monitor changes in economic conditions at home and
Dec. 6, 2011
-
Cable TV operators‘ agree to retransmit HD programs
Cable television operators have started to re-air high-definition terrestrial TV programs late Monday following the government’s mediation efforts.“We have decided to accept the recommendations made by the national broadcasting watchdog and started the retransmission... and agreed to engage in earnest dialogue to resolve outstanding differences in the coming week,” cable operators said in a joint statement.This view was echoed by the three local terrestrial channels -- KBS2, MBC and SBS -- which
Dec. 6, 2011
-
Foreign IBs say BOK may cut rate next year
A growing number of major foreign investment banks have forecast South Korea’s central bank will lower its key interest rate next year as inflationary pressure loses steam, a report showed Tuesday.The Bank of Korea froze the seven-day repo rate at 3.25 percent for the fifth straight month in November, citing downside growth risks such as Europe’s sovereign debt crisis and continued global financial market jitters.While some foreign investment banks were still betting the BOK will stand pat on th
Dec. 6, 2011
-
P&G looks to partnerships in Korea
Procter & Gamble is seeking to beef up ties with Korean firms to develop new technologies and reinforce its footing in the growing market here, government officials said Tuesday.The world’s largest manufacturer of consumer products held an investment seminar in Seoul to discuss collaboration with local small businesses and think tanks to jointly develop cosmetics and beauty products. P&G is the latest participant in the Korean government’s program to help small but promising local firms find inv
IndustryDec. 6, 2011
-
Galaxy Tab tops consumer survey
Korean consumers picked Samsung’s Galaxy Tab as the most satisfying tablet PC on sale here, a recent consumer satisfaction survey found Tuesday. The National Council of the Green Consumers’ Networks in Korea said that the 10.1-inch tablet PC of Samsung Electronics scored the highest at 3.78, followed by iPad 2 of Apple Inc. with 3.77 and K-Pad of KT Corp. with 3.65. The consumer rights advocacy group, sponsored by the Fair Trade Commission, questioned 522 people on their use of five tablet PCs:
IndustryDec. 6, 2011
-
Korea’s growth slows to 0.8 percent in Q3
South Korea’s economy grew a seasonally adjusted 0.8 percent in the July-September period from the previous quarter, marking the slowest pace in three quarters amid growing worries over weakening domestic demand, revised central bank data showed Tuesday.Growth of the country’s gross domestic product, a key gauge of economic performance, was up from an earlier estimate of 0.7 percent, according to the Bank of Korea, but extended its downward trend for the second straight quarter after 1.3 percent
Dec. 6, 2011
-
Chaebol scions climb toward top management
Grandsons and great grandsons of chaebol founders are awaiting promotion in upcoming regular management reshuffles. GS Group chairman Huh Chang-soo’s only son Yoon-hong, general manager at GS Engineering and Construction, is set to be promoted to executive-level Wednesday, company officials said Tuesday. Thirty-two-year-old Huh Yoon-hong joined GS Caltex in 2002 and moved to GS E&C three years later. He currently heads the company’s financial affairs team and will do the same job after promotion
IndustryDec. 6, 2011
-
Hyundai Oilbank donates to families of fallen firemen
Hyundai Oilbank said it will offer money from a fund raised by its employees to the families of two firefighters and a police officer who were killed on duty last weekend. Lee Jae-man and Han Sang-yoon of the Songtan firefighting squad in Pyeongtaek, Gyeonggi Province, were killed in a fire at a furniture exhibition hall on Saturday. Bae Geun-sung, assistant inspector at the police station in Hwacheon, Gangwon Province, died Sunday while trying to save a person who was electrocuted after his car
IndustryDec. 6, 2011
-
Car exports to EU jump 40% this year
Korea’s automakers saw their exports to European countries surge 40.1 percent on a year-on-year basis, which could be interpreted as an outcome of the Korea-EU Free Trade Agreement that took effect in early July.Five carmakers including Hyundai Motor posted 347,207 units in exports to EU countries for the first 10 months of 2011, compared to 247,909 units over the same period last year.The 40.1 percent growth is noteworthy, considering the growth of their total exports around the world was 13.2
MobilityDec. 6, 2011
-
LG Electronics launches donation campaign
LG Electronics said Tuesday it launched a yearend gift donation campaign this month with the World Food Program for the underprivileged in Ethiopia.Dubbed the “Matching gift campaign,” the company is encouraging people to make donations to people affected by natural disasters such as drought in Ethiopia. The company then plans to match the donations.“This is one of our newest social contribution efforts,” said an LG Electronics official. “The firm plans to offer up to 500 million won ($441,345)
IndustryDec. 6, 2011
-
Shares drop on eurozone woes
South Korean stocks slid 1.04 percent on Tuesday as investor sentiment was muted after Standard & Poor’s said it may downgrade the credit ratings of 15 eurozone countries, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI lost 20.08 points to 1,902.82. Trading volume was moderate at 379.3 million shares worth 4.58 trillion won ($4.04 billion) with losers outnumbering gainers 579 to 252.“The threat of a downgrade made investors reluctant to increase risky assets a
Dec. 6, 2011
-
Brokerages blast capital gains tax plan
Securities companies claim new tax could drive away investorsAs the country’s policymakers began to discuss imposing a capital gains tax on shares to increase tax revenues, domestic brokerages expressed concerns about its negative impact on Tuesday.Although the debate is just getting started among politicians, securities houses are voicing their worries as the stakes couldn’t be higher if the current system is modified. The key point of contention is whether the fallout of a capital gains tax wo
Dec. 6, 2011
-
Samsung inks new biopharmaceutical tie-up
Group’s Biologics unit signs agreement with Biogen Idec to develop biosimilarsSamsung Group announced Tuesday that its affiliate Samsung Biologics signed an agreement with U.S.-based Biogen Idec to set up a biosimilar joint venture by March.With plans to build the biosimilar research and development center in Songdo, Incheon, next year, the two firms have agreed to invest $300 million for the joint venture. The joint venture has already hired 100 employees who will work at the new R&D center and
IndustryDec. 6, 2011
-
Building globally competitive SMEs priority: KOTRA
Building globally competitive small and medium enterprises is key to pushing up South Korea’s trade volume to the next level, the new head of the country’s export promotion agency said Monday.Korea Trade-Investment Promotion Agency President Oh Young-ho said that in order for Seoul to double its annual export volume from $1 trillion reached this month, the capabilities of its SMEs must be enhanced.South Korea’s annual trade volume exceeded the landmark $1 trillion mark for the first time in its
Dec. 6, 2011
-
Pantech CEO offers to resign
Pantech CEO and vice chairman Park Byeong-yeop said Tuesday that he will resign from the top post by the end of this year, citing health issues. “I’ll step down from Pantech management on Dec. 31,” he said in an urgent press conference at the company’s headquarters in northern Seoul. “Over the past five years since the company came under a debt management program, I have worked without holidays and can no longer bear the chronic fatigue.” Pantech and its affiliate have been under a debt reschedu
IndustryDec. 6, 2011
-
Samsung begins full operation of Austin plant
Samsung Electronics Co., the world’s second-biggest semiconductor maker, said Tuesday it has begun full production at its new Austin semiconductor plant earlier than planned, at a time when demand for smartphones and tablet PCs is booming. The company’s new plant in Austin, Texas, reached its target capacity of 40,000 wafers per month in October, a month prior to its initial target, Samsung said in a statement. Samsung produced the first silicon wafer in May on the S2 line in Austin, an automate
IndustryDec. 6, 2011
-
S. Korean workers most vulnerable to unemployment risk in OECD bloc
South Korean workers turned out to be most vulnerable to an economic crisis compared with their counterparts in other OECD countries, due to the country's extraordinarily low levels of unemployment benefits, a report showed Tuesday.Local labor authorities provided unemployed workers with financial a
Dec. 6, 2011