Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Seoul stock market expected to continue upward march
South Korean stocks are expected to continue their upward march next week on the back of favorable market conditions, analysts said Saturday. The country's key stock index, the KOSPI, gained 2.57 percent, or 54.61 points, this week to close at 2,180.35 on Friday, despite the lingering debt crisis in Europe and a rate hike by China. Next week is packed with major events such as the central b
July 9, 2011
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Obama under pressure over FTAs, TAA
WASHINGTON -- The leader of the U.S. House of Representatives on Friday voiced clear opposition to President Barack Obama's push to package three pending trade pacts with a worker assistance program. "We expect in the House to move four separate bills, and I would hope they would heed our advice," House Speaker John Boehner (R-Ohio) told reporters. His firm stance came a day after key commi
July 9, 2011
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Hana, Lone Star agree to extend KEB deal
Hana Financial Group and Lone Star Funds reached an agreement to extend a deal to buy Korea Exchange Bank within six months, Hana said Friday.Hana, the nation’s No. 4 banking group, held a meeting of its board members later in the day to review the terms of the deal.In November, Hana struck a deal with the U.S. buyout fund to acquire its controlling 51 percent stake in KEB for 4.69 trillion won ($
July 8, 2011
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BAT Korea cuts price of ‘Dunhill SWITCH’
British American Tobacco Korea said it reduced the price of the superpremium “Dunhill SWITCH” by 200 won to 2,800 won ($2.60) from Friday.BAT Korea reportedly said the company took the action in consideration of consumers’ burden on the price of the cigarettes.The company introduced the new brand with “RELOC” inner wrapping on the local market on June 7. (cheesuk@heraldm.com)
IndustryJuly 8, 2011
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KCC officials in U.S. for Apple, Google probe
The Korea Communications Commission said Friday it has dispatched a group of officials to the headquarters of Apple Inc. and Google Inc. in the U.S. for its ongoing probe over location data storage.The investigation committee, which consists of six experts from the KCC and the Korea Internet & Security Agency, will overhaul how the two tech giants utilize resources stored in their servers until Ju
IndustryJuly 8, 2011
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Korea-EU FTA to put Seoul at public health crossroads
Friedrich-Wilhelm GausePharmaceuticals might not have been the most discussed sector before the Korea-European Union Free Trade Agreement came into effect from July 1. However, it is forecast to have a huge influence on public health since the deal is deeply connected to drug pricing of original drugs and will eventually affect national health insurance finance. “It will be a great opportunity for
July 8, 2011
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From doctor, IT whiz to educator
Ahn Cheol-soo has polled as one of the figures young Koreans most look up to.(Ahn Hoon/The Korea Herald)Ahn committed to planting entrepreneurship in young hopefulsBehind Korea’s leadership in the high-tech world are a number of business innovators, technology wizards and far-sighted investors.Ahn Cheol-soo leads the pack with his success, acumen and a dramatic life story that combined to make him
IndustryJuly 8, 2011
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More than half who switch jobs regret it
Workers often turn to other companies for better opportunities but more than half of those who switched jobs have regrets, according to research.In a poll conducted by Incruit, a local online recruitment website, about 58.7 percent of those who changed jobs are unsatisfied and willing to go back to their previous employment.The major reasons provided was “the original work turned out to be better,
July 8, 2011
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Consumer demand for white wine soars in H1
(MCT)SEOUL, (Yonhap) -- South Korean demand for white wine jumped in the first half of the year as consumers sought more diversity in their preferred brands, a leading local wine retailer said Friday.Winenara Co. said 17 white wine brands were included among the top 100 best sellers at its nationwide stores in the January-June period, compared with just five a year earlier. The company sold 330,00
IndustryJuly 8, 2011
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U.S. antitrust crackdown costs Korean firms $1.6b
Korean antitrust regulator advises firms to be prudentKorean companies in the United States have paid about 1.7 trillion won ($1.6 billion) in fines for price-fixing and four out of the top 10 highest-paying companies were from Korea, a ranking official of the state-run antitrust regulator said Wednesday.The Fair Trade Commission on Wednesday explained the business environment of the U.S. on collu
IndustryJuly 7, 2011
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BC Card fights back against ‘domineering’ Visa
BC Card Co., a local payment services provider, is stepping up its offensive against Visa, condemning the global credit card giant for pressing unfair business activities onto its Korean partners.On Monday, BC Card filed a report with the Fair Trade Commission over the U.S.-based company’s overseas fee system. “Visa is conducting illegal activities against the Monopoly Regulation and Fair Trade Ac
IndustryJuly 7, 2011
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PyeongChang Winter Olympics to be a massive boost for Korean economy
Banners celebrating PyeongChang’s selection as the host of the Winter Games in 2018 are hung across a road near the Alpensia Resort in PyeongChang on Thursday. (Yonhap News)PyeongChang’s hosting the Winter Olympics in 2018 will bring massive economic benefits for the country.According to estimates based on a report compiled in 2008 by the Korea Institute for Industrial Economics and Trade, hosting
IndustryJuly 7, 2011
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Apple files complaint against Samsung
Apple Inc. has filed a complaint with the U.S. International Trade Commission to block U.S. sales of Samsung Electronics Co.’s smartphones and tablet PCs, escalating the legal tussle between the two mobile giants. Apple’s ITC filing comes less than one week after Samsung filed a similar complaint with the federal agency, seeking to block Apple from importing the iPhone, iPad and iPod Touch product
IndustryJuly 7, 2011
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POSCO to acquire Southeast Asia’s largest stainless steel maker
POSCO announced Thursday that it signed a share purchase agreement to acquire controlling stakes in the Thai stainless steel maker ThaiNox.ThaiNox is Southeast Asia’s largest stainless steel maker and currently produces about 240,000 metric tons of cold rolled stainless steel on an annual basis.POSCO currently holds a 15 percent stake in the company, and the latest deal will see the steel giant ac
IndustryJuly 7, 2011
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Samsung Electronics’ Q2 earnings fall 26.1%
Source: Samsung Electronics (Yonhap News)Samsung Electronics on Thursday was on par with market forecasts with the announcement that its tentative second quarter operating profit stood at 3.7 trillion won ($3.4 billion), down 26.1 percent from the previous year.Sales rose 2.93 percent from the second quarter of 2010 to reach 39 trillion won to record a 5.43 percent increase from the first quarter.
IndustryJuly 7, 2011
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EU expert urges health care transparency
Maxim MaminKorea and the European Union should pursue integrated standards and regulations on medical equipment to maximize the benefits of a free trade agreement between the two regions, a senior European industry official said.The latest pact became effective on July 1, and eliminates tariffs on medical devices from the EU over seven years. But concerns remain among European manufacturers that e
July 7, 2011
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KRIHS, World Bank sign deal for urban development
Korea Research Institute for Human Settlements President Park Yang-ho (right) and the World Bank Group’s manager of the urban development unit Abha Joshi-Ghani, after signing an agreement to exchange resources on sustainable urbanization. (KRIHS)The Korea Research Institute for Human Settlements, a state-run think tank, said Thursday it has forged an agreement with the World Bank Group to share re
IndustryJuly 7, 2011
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FTA to cut cosmetics, medical prices
Competition is set to become intense between cosmetics and medical equipment firms in Korea and the European Union after the two regions’ free trade agreement came into effect on July 1.Though it will take up to seven years until all the tariffs are eliminated, Korean manufacturers are stoking fears that cheaper European products will erode their competitiveness in the market.European leaders, on
IndustryJuly 7, 2011
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FSS wants savings banks to offer more micro-loans
Financial regulators plan to activate micro-loan issuances to individuals from the savings banking industry by curbing excessive competition among credit card companies.The plan comes as credit card issuers have been vying to issue loans despite customers’ low credit standings.“Though the savings banking industry has been severely damaged due to construction-related toxic loans, there are still ma
July 7, 2011
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‘Apple to unveil new iPhone in third quarter’
Shoppers enter the Apple Inc. Store on Fifth Avenue in New York. (Bloomberg)NEW YORK (AFP) ― Apple plans to launch its next-generation iPhone during the third quarter of the year, The Wall Street Journal reported on Wednesday.The newspaper, citing “people familiar with the situation,” said Apple has placed orders for key components to used in the new version of the iPhone and that it would be thin
IndustryJuly 7, 2011