Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Immigrant woman stabbed to death by Korean husband
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Seoul’s bus union prepares for strike
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LGE aims at 40% of Middle East, African markets
LG Electronic launched its Cinema 3-D televisions at Ferrari World, the world’s largest theme park in Abu Dhabi on Monday to mark its foray into the Middle East and Africa, the Seoul-based company said Tuesday. The electronics maker is now aiming for a 40 percent market share of the 3-D industry in the region. “We believe that our products will be able to offer distinguished, next generation 3-D t
IndustryJune 7, 2011
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Seoul eyes 18% of global green energy market
Knowledge Ministry reveals road map for developing eco-friendly energy resourcesThe Ministry of Knowledge Economy on Tuesday revealed a roadmap for developing eco-friendly energy resources aiming to create 1.5 million jobs and cut carbon dioxide emissions by 210 million metric tons by 2030.The roadmap also lays out plans to create a 94 trillion won ($87 billion) domestic market and exports of 328
IndustryJune 7, 2011
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Seoul stocks fall 0.65% on economic woes
Korean stocks closed 0.65 percent lower on Tuesday as oil refiners and auto companies tumbled on economic slowdown fears and concerns over oil price falls, analysts said. The local currency lost ground against the U.S. dollar.The benchmark KOSPI skidded 13.76 points to 2,099.71, extending its losing run to a fourth straight session. Trading volume was light at 243.8 million shares, worth 6.1 trill
June 7, 2011
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BOK looks tilted toward rate freeze
Korea’s central bank may leave the key rate unchanged for the third straight month for June in the face of lingering economic uncertainty, including the eurozone debt woes, a poll showed Tuesday.Nine out of 15 economists forecast that the Bank of Korea will freeze the benchmark seven-day repo rate at 3 percent on Friday, according to the survey by Yonhap Infomax, the financial news arm of Yonhap N
June 7, 2011
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Experts emphasize R&D for growth, integration
Academics and leaders in the industrial and public sectors around the world underscored Tuesday the significance of research and development in securing sustainable, mutual growth.Around 500 officials and experts in science and technology from more than 10 countries took part in the Global R&D Forum 2011 hosted by the Ministry of Knowledge Economy in Seoul. International scholars and experts atte
IndustryJune 7, 2011
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Credit card firms face weekly monitoring
Regulators mull business suspension, warning CEOs on violatorsCredit card companies which will fail to meet new regulatory standards will face tougher sanctions such as business suspension, financial regulators said Tuesday.In addition, regulators are expected to turn up the heat on card company CEOs as they are poised to issue a censure-level warning against rule-violators.As credit card issuers
June 7, 2011
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Tech companies brace for cloud computing
KT, LG CNS lead Korean firms moving into what promises to be key industryWith Apple Inc. officially announcing its dive into cloud computing, many local players believe the field is likely to become the next hottest trend of the mobile Internet era.Cloud computing technology enables people to access data and software, which are stored on servers and devices, through the Internet, making the inform
TechnologyJune 7, 2011
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Lunch with guru Buffett: $2 million and counting
Alert: if you want to have lunch with the Oracle of Omaha, it's going to cost you more than $2 million.The annual charity auction of a lunch with investment guru Warren Buffett got underway Monday, and just hours into the five-day bidding battle, the price was already at $2,000,111.The founder and wizard of investment house Berkshire Hathaway has put a meal with him on the auction block every year
IndustryJune 7, 2011
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Sales of imported vehicles jump 22 pct in May
SEOUL (Yonhap) -- Sales of imported vehicles in South Korea surged 22 percent last month from a year earlier on demand for new models and aggressive marketing strategies by local dealers, a trade association said Tuesday.A total of 8,777 imported vehicles were sold here in May, compared with 7,193 units sold a year earlier, according to the Korea Automobile Importers and Distributors Association (
MobilityJune 7, 2011
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Still-frail Jobs appears to hail Apple's latest
SAN FRANCISCO (AP) - Steve Jobs re-emerged from his latest medical leave Monday to show off Apple Inc.'s latest innovations and sustain the hope that he eventually will return to dream up more ways to reshape technology. The highlight, as usual, came at the end of Jobs' presentation. He was onstage for less than 30 minutes during a nearly two-hour event that primarily featured his subordinate
TechnologyJune 7, 2011
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Germany backtracks on sprouts as E. coli source
HAMBURG, Germany (AP) _ First they pointed a finger at Spanish cucumbers. Then they cast suspicion on sprouts from Germany. Now German officials appear dumbfounded as to the source of the deadliest E. coli outbreak in modern history, and one U.S. expert has called the investigation a ``disaster.'' Backtracking for the second time in a week, officials Monday said preliminary tests have found n
TechnologyJune 7, 2011
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Three-way ties can create level playing field
A tripartite tie-up between multinational companies, conglomerates and small- and mid-sized firms is one way the Korean government can attempt to cope with the daunting task of leveling the corporate playfield, says the head of the Korean CEO’s Association of Multinational Corporations.“We may have the drive and means for helping these small- and mid-sized companies, but it can’t be done without a
IndustryJune 6, 2011
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3-D LCD panel sales surge in first quarter
Sales of locally made three-dimensional liquid crystal displays surged 104 percent in the first quarter compared to the last three months of 2010, mainly fueled by a rise in global demand, an industry report showed Monday.According to the report by market research firm DisplaySearch, Korean-made 3-D LCD shipments reached 1.90 million units in the three-month period. It said the size of the market
IndustryJune 6, 2011
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Volvo recalls trucks with faulty steering
Volvo Group Korea is recalling 49 FH and FM truck models due to a fault in the steering system, the Ministry of Land, Transport and Maritime Affairs announced Monday. According to the ministry, the bolt keeping the steering arm in place in FH 6X4, FH 6X2 and FM 6X2 trucks produced between Dec. 13 and Jan. 14 may come loose. The recall applies to 39 FH 6X2 trucks, and five each of FH 6X4 and FM 6X2
IndustryJune 6, 2011
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Koreans still favor instant coffee fix
Although the country’s thriving coffee market has stoked demand for espresso and drip coffee in recent years, instant coffee remains Korea’s preferred drink, a recent survey showed. Last year, Koreans consumed 22.8 billion cups of coffee collectively, according to the survey by Nielson Korea and Dongsuh Foods Corp., the top local instant coffee maker. That translates as 452 cups for every Korean o
IndustryJune 6, 2011
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POSCO to begin work on magnesium smelting plant
POSCO will begin work on its first magnesium smelting plant on Friday.The plant, to be located within an industrial complex in Gangneung, Gangwon Province, is scheduled for completion in June 2012. Once complete, the plant will be capable of producing 10,000 metric tons of magnesium ingots on an annual basis, reducing imports by an estimated 35 billion won ($32 million) each year.According to indu
IndustryJune 6, 2011
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More firms plow money into solar energy
Samsung SDI, LG Chem, Hanwha participate in solar power projectsAn increasing number of firms are betting on solar energy projects as solar power is figured to be one of the fastest-rising new growth engines in the country.Large businesses, such as Samsung SDI, LG Chemical, Hanwha and SK subsidiary SKC, are gearing up to increase production to prepare for the rising demand for solar energy.Accordi
IndustryJune 6, 2011
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BOK to decide key rates on June 10
The Bank of Korea will meet on June 10 to decide interest rates as policy makers try to tame inflation without damping an economic recovery.Korea’s inflation climbed 4.1 percent from a year earlier in May, exceeding the central bank’s target for a fifth straight month and adding to the case for an increase in interest rates even as export and output growth cools. Exports last month advanced 23.5 p
June 6, 2011
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Shares expected to gain further ground this week
Korean stocks are expected to continue their upward trend this week on a series of events that may keep market sentiments afloat, analysts said.The benchmark Korea Composite Stock Price Index closed this week at 2,113.47, up 0.63 percent from a week earlier.The KOSPI lost ground at the beginning of last week, dipping to 2,093.79 on program and foreign sell-offs. The index rebounded to the 2,100 le
June 6, 2011
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Korea’s farm, food product exports jump 34.3% this year
Korea’s food and agricultural exports surged 34.3 percent on-year in the first five months of 2011 mainly due to a rise in demand from Japan and other Asian countries, the government said Monday.The Ministry for Food, Agriculture, Forestry and Fisheries said outbound shipments reached $2.82 billion in the cited period, fueled by solid overseas demand for such goods as ginseng, processed food and v
June 6, 2011