Most Popular
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Pyongyang erects blockades along inter-Korean railways
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Blackpink's Rose and Bruno Mars' 'APT' sparks surge in related stocks
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FT Island's Choi Min-hwan under investigation for allegedly soliciting prostitution
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[From the Scene] How robotics reflect shift in S. Korea's food industry
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Opposition slams Yoon's suggestion to send offensive weapons to Ukraine
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[Exclusive] Korean adoptee sisters meet for the first time in 39 years
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Yoon calls for measures to protect Koreans amid escalating Iran-Israel conflicts
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Korea to regulate cross-border trading of crypto
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N. Korea says troop dispatch to Russia, if true, falls in line with int'l law
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N. Korea slams Seoul-Washington joint air exercise
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Doosan Heavy sees 158% rise in Q2 net
Doosan Heavy Industries and Construction Co.’s second quarter sales came in at 1.48 trillion won ($1.4 billion), rising 21.17 percent from a year ago, the company posted in a regulatory filing on Monday.Over the same period, the company’s operating profits fell 11.68 percent to 144.5 billion won while its net profits soared 158.04 percent to come in at 158.3 billion won.Compared to the first quart
IndustryJuly 25, 2011
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Renault Samsung starts new SM7 production
Renault Samsung Motor Co., the South Korean unit of French automaker Renault SA, said Monday that it started mass production of its completely new SM7 luxury sedan.The carmaker said the flagship luxury car is being manufactured at its Busan plant 453 kilometers southeast of Seoul with the vehicles to reach consumers in mid August. Renault Samsung Motor Co. executives and workers applaud at a cerem
IndustryJuly 25, 2011
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Korea to build Venetian-style floodgates
Korea plans to set up high-tech facilities to stave off flooding at the country’s seaports, including flap gates similar to those being built in Italy’s Venice, the government said Monday.The Ministry of Land, Transport and Maritime Affairs unveiled a package of measures to minimize the impact of natural disasters such as earthquakes, floods, typhoons and tidal waves, which are increasingly freque
July 25, 2011
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People in 40s hop on smartphone bandwagon: report
The average age of new smartphone owners has risen, according to a recent report.A report entitled “Mobile divide in the smartphone era,” recently announced by KT’s DigiEco and the office of research affairs at Yonsei University, said that the portion of new smartphone users in their 40s has jumped to 24.7 percent in November last year, from 11.6 percent earlier in May.The percentage is higher tha
July 25, 2011
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STX fined for cutting payments to contractor
STX Offshore and Shipbuilding Co. will face punitive measures for unfairly reducing subcontracting fees to a service provider, a state-run antitrust regulator said Monday. The nation’s leading shipbuilder, based in Changwon, South Gyeongsang Province, had signed a contract with a subcontractor, identified by its initial H, since 2008 for the work of putting vessels together to be moved.For six mon
IndustryJuly 25, 2011
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SC First chief pledges to resolve strike this week
Richard Hill, chief of the Korean unit of Standard Chartered, on Monday expressed his “deepest regret” for service inconvenience due to an ongoing strike and pledged his commitment to resolving the dispute over the introduction of a performance-based pay system this week.During a press conference in Seoul, Hill bowed in apology to the Korean public. The news conference was held as the bank’s labor
July 25, 2011
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Strong won pressures BOK on rate policy
The possibility that the Korean currency will rise in value up to nearly 1,000 won against the U.S. dollar is growing with recent stronger position of the won.The dollar has slid to around 1,050 won, the cheapest level in nearly three years due mainly to the combination of a strong trade balance and policy factors. Research analysts say the won’s gain is logical. They cite three reasons in particu
July 25, 2011
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Six credit card firms face FSS sanctions
The nation’s biggest credit card firms are expected to receive regulatory punishment for unauthorized sales activities.The Financial Supervisory Service has uncovered about 20,000 irregular cases including reckless issuance of credit cards.Since May, the regulatory agency has been probing six major credit card issuers ― Shinhan, Hyundai, KB Kookmin, Samsung, Lotte and Hana-SK ― in a bid to curb ex
July 25, 2011
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Government, BOK seek new relationship
Finance Ministry, central bank hold first consultation meetingSouth Korea’s Finance Ministry and the central bank held their first meeting to share views on macroeconomic policy on Monday in Seoul, pledging to help coordinate government initiatives to tame inflation, though skepticism lingers about the motive behind the meeting. “Inflation is a common issue confronting the whole world and it start
July 25, 2011
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Clinton calls Korea-U.S. FTA ‘model agreement’
HONG KONG (Yonhap News) ― U.S. Secretary of State Hillary Clinton said Monday that the country’s free trade deal with South Korea is a “model agreement” for the world’s largest economy.The Korea-U.S. FTA, known as KORUS FTA, was signed in 2007 and supplemented last December. It has been awaiting approval from the legislatures of both countries. “We consider KORUS a model agreement,” Clinton said i
July 25, 2011
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LGE runs ‘Optimus 3-D train’
LG Electronics on Monday launched an “on-board” advertisement campaign for its LG Optimus 3-D smartphones by rigging a subway train with related ads and products.The Seoul-based company said the 3-D phones, along with LG Electronics’ 3-D monitors and televisions, would be on display on a train on Subway Line No. 2 until Aug. 21. Models show LG Optimus 3-D smartphones in an “on-board” advertising c
IndustryJuly 25, 2011
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Mirae Asset denies takeover bid for Italian luxury brand
Mirae Asset Financial Group, Korea’s major mutual fund manager, on Monday formally denied a local report that it is seeking to take over an Italian luxury brand maker. “There is no truth in the news report,” a spokesman at the company’s fund management division told The Korea Herald. “Although our policy is not to comment on such deals, what I can say is that we are not considering such a takeover
July 25, 2011
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Samsung to raise W100b for R&D support
Electronics giant signs with SMEs to finance innovative technologiesSamsung Electronics has pledged 100 billion won ($95 million) to support smaller companies’ research and development efforts.On Monday, the electronics giant signed an agreement with the Ministry of Knowledge Economy and members of a group of small and medium-sized enterprises launching a program for providing financial support fo
IndustryJuly 25, 2011
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Samsung smartphone sales may pass Apple
Samsung Electronics Co., maker of the Galaxy mobile phone, may have surpassed Nokia Oyj and Apple Inc. in smartphone sales for the first time on demand for devices that run on Android software, a research company said. Samsung is estimated to have sold between 18 million and 21 million smartphones globally in the April-June quarter, compared with 16.7 million for Nokia and 20.3 million iPhones, Ne
IndustryJuly 25, 2011
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Japan ends analog TV broadcasts after 58 years
Japan ended a 58-year era of analog television broadcast Sunday, becoming the first Asian nation to complete the transition to digital transmission. Cathode-ray tube TVs, usually with a curved screen and a protruding box at the back, could no longer display programs without adding a special tuner after the switchover Sunday afternoon. Public broadcaster NHK news and Pocket Monsters cartoon series
IndustryJuly 25, 2011
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Greeks struggle to shed old ways of thinking
A few entrepreneurs think positively in forbidding landscape of anger and entitlementATHENS (AP) ― A few Greek entrepreneurs perch in front of laptops in bare offices above a ground-floor supermarket, five minutes’ walk from the Athens square convulsed by riots last month over the country’s economic crisis.“Innovate,” a wall slogan exhorts. “Originate.” A bowl of fist-sized plastic balls sits on a
IndustryJuly 25, 2011
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Dieting does not lead to weight loss
(MCT)A new study suggests the majority of overweight people rarely return to their former shape through dieting, the Daily Mail reported.The survey of 25,000 people by the Medical Research Council’s National Survey of Health and Development further provided evidence of ‘yo-yo dieting,’ a phenomenon in which people are trapped in a cycle of losing weight and regaining it.According to the research,
TechnologyJuly 25, 2011
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Quiet digital revolution under way in North Korea
PYONGYANG, North Korea (AP) -- As his right hand grips the mouse, the physics major's eyes are fixed on a flat-screen monitor labeled with a red sticker reminding him the computer was a gift from Kim Jong Il.People work on library computers at the Grand People's Study House in Pyongyang, North Korea. North Korea is undergoing a digital revolution of sorts, even as it holds some of the strictest c
TechnologyJuly 25, 2011
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Major employers hire more high school graduates
Banks, major firms expand hiring of high school graduatesAll eyes are now trained on the corporate sector amid high expectations that South Korean companies at large would hire more high school graduates following an unprecedented move in the banking sector. Last week, Korea’s 18 banks said they would double their hiring quota for high school graduates, largely prompted by the government’s policy
July 24, 2011
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TV stations to talk with cable networks
The conflict between terrestrial and cable television operators over broadcast rights is expected to take a new turn as chiefs of terrestrial TV stations agreed to form a negotiation panel last Friday.In a meeting organized by Choi See-joong last week, chairman of the state media regulator, representative of five major broadcast stations ― SBS, KBS, MBC, EBS and OBS ― said a panel must be formed t
July 24, 2011