Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Korea Exchange pushes to go public
Chairman Kim vows to enhance global networking, toughen against fraudThe Korea Exchange will push for an initial public offering to boost its competitiveness and expand its operations globally, its chairman Kim Bong-soo said.He also pledged to toughen penalties on trading irregularities, citing the recent controversy involving Deutsche Bank, which allegedly manipulated the stock market through mas
Feb. 27, 2011
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Korea to delay carbon trading to 2015
Korea’s government is delaying carbon emission trading to 2015 after opposition from the industry to implement it in two years.The revised bill, which reflects feedback from businesses, will be submitted to parliament in March, Kim Sang-hyup, the presidential secretary for green growth, said Saturday.President Lee Myung-bak said on Feb. 7 the emission-trading plan will be implemented in a “flexibl
Feb. 27, 2011
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Lee’s business diplomacy expands market
Emphasis on free-trade deals has increased access for Korean exportsPresident Lee Myung-bak’s emphasis on business diplomacy for the past three years has been catapulted Korea to the forefront of free trade and international global coordination that helped the world tide over the worst downturn since the Great Depression. Korea’s first CEO-turned-president is praised for pulling the country out of
Feb. 27, 2011
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Honda opens orders for CBR250R
Honda Korea is now receiving orders for the CBR250R motorcycle that will be launched on the local market at the end of March.The CBR250R is fitted with a newly designed water-cooled 250 cubic centimeter engine, which according to the company offers improved acceleration and response. CBR250RThe company is receiving pre-launch orders until March 23, and those purchasing the vehicle before its laun
MobilityFeb. 27, 2011
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Fiat to produce cars in Russia
Fiat SpA submitted a plan to the Russian government to build as many as 300,000 cars a year in the country, after last week ending talks on a 2.3 billion-euro ($3.3 billion) deal with OAO Sollers. “The product plan will be principally based on production of C and D segment cars, SUVs and light commercial vehicles,” Fiat said in a statement Friday. “The Fiat and Jeep brands will be the mainstays of
IndustryFeb. 27, 2011
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Renault Samsung fosters parts industry
Renault-Nissan Alliance connection opens new opportunities for local suppliersRenault Samsung Motors Co., which has increasingly been turning its eyes to exports in its drive for growth, is now providing a stepping stone for its suppliers to reach the wider global market.While the company ranks fourth among South Korea’s five carmakers in terms of export volume, Renault Samsung’s exports have grow
MobilityFeb. 27, 2011
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Porsche spring service campaign
Stuttgart Sports Cars, Korea’s official Porsche importer, is holding a service campaign from March 2 through to March 31.During the period, the company is offering free checkup services at authorized service centers using the German carmaker’s Porsche Integrated Workshop Information System tester.The company is also offering a 10 percent reduction on parts and related labor charges, including tire
MobilityFeb. 27, 2011
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2011 Freelander 2 hits local market
Jaguar Land Rover Korea launched the 2011 New Freelander2 SD4 on the local market. The vehicle comes with a 2.2-liter turbo diesel engine that puts out 190 brake horsepower.The car manages 13.4 kilometers per liter. New Freelander2 SD4The vehicle is fitted with Land Rover’s Terrain Response system that allows the vehicle to adapt to different terrains as standard. The New Freelander2 SD4 also come
MobilityFeb. 27, 2011
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Hyundai joins German hydrogen car project
Hyundai Motor Co. and Kia Motors Corp. signed a deal with German organizations to take part in the European nation’s government-led Clean Energy Partnership on Friday. Under the agreement, Hyundai Motor Group’s two carmakers will supply hydrogen fuel cell vehicles to the German government’s hydrogen automobile project.“With the MOU, Hyundai and Kia secured a chance to introduce its technology for
MobilityFeb. 27, 2011
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S. Korean manufacturers' sentiment edges down for Q2
South Korean manufacturers' confidence inched down for the second quarter on jitters over currency volatility and rising costs of raw materials, a poll showed Sunday. In its survey of 1,326 local manufacturers, the Korea Chamber of Commerce and Industry (KCCI) said the business sentiment index slipped to 108 for the April-June period from 111 for the current quarter. A reading above 100 means
Feb. 27, 2011
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Volkswagen, Peugeot to recall 3,241 vehicles due to defective parts
French automaker PSA Peugeot Citroen and German automaker Volkswagen AG will recall 3,241 vehicles in South Korea due to defective parts in their braking systems and fuel pipes, the transportation ministry said Sunday. Peugeot's 2,962 vehicles manufactured and sold here between Dec. 15, 2006 and Feb. 24, 2009 are subject to the recall, according to the Ministry of Land, Transport and Maritime
MobilityFeb. 27, 2011
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Nintendo 3-D handheld goes on sale in Japan
TOKYO (AP) _ Nintendo's latest game machine, offering glasses-free 3-D images, went on sale in Japan on Saturday ahead of a global rollout, and analysts say it promises to be the world's first 3-D mass-market product. ``I'm so excited,'' said 9-year-old Natsumi Miyasaka, clutching her brand new blue 3DS portable that her father bought for her. Customer Toyohisa Ishihara shows a Nintendo Co. 3
TechnologyFeb. 27, 2011
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S&P remains negative on Hana Bank's expected acquisition of KEB
Standard & Poor's Ratings Services said Saturday that it continues placing Hana Bank on its "negative watch" list as the lender is getting closer tocomplete the acquiring of Korea Exchange Bank.Hana Financial clinched a deal last November with U.S. buyout fund Lone Star Funds to buy South Korea's fifth-largest lender for 4.69 trillion won ($4.19 billion), which it said would be paid with internal
Feb. 26, 2011
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Hyundai Motor to pay 4.96 trillion won for Hyundai E&C
Hyundai Motor Group, South Korea's top automaker, agreed to pay 4.96 trillion won (US$4.4 billion) to take over a 35 percent stake in the country's biggest builder,sources said Friday. The price, agreed on with creditors of Hyundai Engineering & Construction Co. (E&C), represents a 2.74 percent discount from the carmaker's bid price of 5.1 billion. The price readjustment came after Hyun
IndustryFeb. 25, 2011
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Samsung breaks into biomedical sector
Samsung Group marked its first step into the biopharmaceutical business with the establishment of its joint venture with U.S. drugmaker Quintiles Transnational Corp. The company on Friday said the joint venture will be established during the first half of this year, to be capitalized at 300 billion won ($265.5 million).It will be controlled 90 percent by Samsung Group. Quintiles will hold a 10 per
IndustryFeb. 25, 2011
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Hyundai Motor chair to pay 82.6b won
The Seoul Central District Court on Friday ordered Hyundai Motor Group chairman Chung Mong-koo to pay 82.6 billion won ($73.1 million) in compensation to Hyundai Motor Co. for damages caused by irregular intra-group trading.Aside from Chung, former Hyundai Motor vice chairman Kim Dong-jin has been ordered to pay 8 billion won in compensation to the carmaker.The ruling follows three years after the
IndustryFeb. 25, 2011
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SK Telecom-iPhone 5 expected to hit market
SK Telecom officially announced Friday that it will provide services for Apple’s iPhone 4 as early as next month, bringing an end to its rival KT Corp.’s 15-month long exclusive deal with Apple.The country’s leading mobile carrier SKT has not provided the details on when it will release the smartphone, however, it said it predicts more people will use the popular gadget, using its network and serv
IndustryFeb. 25, 2011
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BASF to invest $3.1 billion in Asia by 2015
BASF chief executive Jurgen Hambrecht speaks during the firm’s yearly press conference in Ludwigshafen, Germany on Thursday.(BASF)LUDWIGSHAFEN, Germany ― Leading global chemical firm BASF plans to expand its presence in Asia by investing 2.3 billion euros ($3.1 billion) over the next five years, company officials said Thursday.The Germany-based firm’s aggressive investment plan comes as the Asia-P
IndustryFeb. 25, 2011
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Samsung Group breaks into biomedical sector
South Korea's top conglomerate Samsung Group said Friday that it will establish a biomedical joint venture with U.S. drugmaker Quintiles Transnational Corp. as part of its efforts to find new growth engines. The joint venture will be capitalized at 300 billion won (US$265.5 million) and be established sometime in the first half of this year, Samsung said, adding work will begin on a plant in Inche
IndustryFeb. 25, 2011
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Lee praised for crisis response
During his three years in office, President Lee Myung-bak is praised for achieving a rapid recovery from the financial crisis and boosting Korea’s economic clout in the world.His government has widened Korea’s free trade relations with major economies, mediated conflicts between traditional and emerging powers as the first host of G20 Summit and pulled off 6.1 percent growth last year to rank seco
Feb. 24, 2011