Most Popular
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Weekender] How DDP emerged as an icon of Seoul
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Today’s K-pop] NewJeans' single teasers release amid intrigue
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AMCHAM members hold campaigns to benefit underprivileged
Members of the American Chamber of Commerce in Korea, or AMCHAM Korea, held more than 19 corporate social responsibility events or activities during the first quarter of 2012. The events help companies give back to the local community, and the chamber says in its official publication that it is a cornerstone of AMCHAM membership. Many of the programs helped benefit local students or the underprivileged. PPG Industries Korea offered scholarships for eight female Korean students majoring in chemis
May 28, 2012
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AMCHAM to hold 8th CEO Servers’ Night
The American Chamber of Commerce in Korea will host a charity event that emphasizes fun on June 5. Called “The 8th AMCHAM CEO Servers’ Night,” the event will take place at the Banyan Tree Club & Spa Seoul, located in Jangchung-dong, central Seoul. During the event, business executives will dress up as waiters and serve a four-course dinner to their clients, employees and family members. Participating CEOs will be required to attend an afternoon training session that will be held on the same day.
May 28, 2012
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Vector Korea chief seeks harmony between corporate cultures
One year after getting permanent residency, Geyer reflects on Korean business worldGerman-born business executive Thomas Geyer is a big fish in a small, exclusive pond.According to the 43-year-old president of Vector Korea IT Inc., one of the perks enjoyed by foreign executives in the Land of the Morning Calm is the exposure to movers and shakers in the Korean political and business circles.“I meet people I would never have met in Germany. Assemblymen from Parliament, the Justice Ministry. … It’
May 28, 2012
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Korea, Colombia close to striking FTA
Trade officials in Seoul indicated Friday that South Korea and Colombia will soon conclude a free trade agreement.The officials denied a news report that the two countries would declare the FTA concluded within next month, but said it was true that discussions are in the final stages. “There still remain some issues which each side has a completely different stance on. Such issues should all be resolved in order to be able to reach a final agreement, so now is a difficult time to expect when it
May 25, 2012
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Possible legislation of labor laws favoring workers concern firms
Working restrictions on holidays picked as most concerning factor among HR executivesThe most concerning factor among human resource executives in Korea is pending labor laws restricting employers to make their employees work on holidays.In a survey of some 300 executives at Korean companies by The Korea Chamber of Commerce and Industry, over 53 percent voiced such concern over the issue which is expected to be discussed at the National Assembly next month.The law may also include making compani
May 24, 2012
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Angry Diablo 3 users demand refund over server lag
The highly celebrated launch of online game Diablo 3 is rapidly turning into a consumer nightmare as thousands of users are demanding refund over server lags.South Korea’s Fair Trade Commission official said Wednesday it has received between 111 and 175 Diablo 3-related complaints per day in the past few days, according to news reports. The official added that the average number complaints received every day is about 150.The Fair Trade Commission vowed it will "look into the situation," but did
May 24, 2012
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Seoul announces package of steps to cut consumption
The government revealed plans on Wednesday to cut the nation’s oil consumption from 40 percent of all energy use to about 33 percent by 2015.It also plans to extend tax benefits for owners of hybrid and mini cars and support the research and development field for green cars, including highly efficient engines and electronic cars. The government disclosed these and other plans on Wednesday after an economic crisis management meeting at Gwacheon Government Complex. The plans aim to lessen the burd
May 23, 2012
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Korea, Paraguay agree open-skies accord
South Korea and Paraguay reached an open-skies accord on Tuesday to meet future two-way demand for passengers and cargo, the Seoul government said.Under the agreement, South Korean airlines will be allowed to fly an unlimited number of times to the South American country, the Ministry of Land, Transport and Maritime Affairs said. At present, there are no direct flights linking the two countries.At the talks held in Seoul, both sides concurred that the pact will help fuel personnel exchange and f
May 23, 2012
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Seoul to extend tax incentives to boost R&D investment
The government said on Wednesday it will push to extend tax breaks and incentives to spur corporate investment in research and development through 2015.Tax credits worth 2.3 trillion won ($1.96 billion) last year for R&D investment to develop new growth engines and core technologies, special exceptions in taxation (worth 92.1 billion won) for state endowments related to R&D and tax credits (106 billion won) for investment in R&D facilities are set to expire this year.The government said it will
May 23, 2012
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15,000 job applications in 10 years… still no job
Desperate jobseeker in the United Kingdom has resorted to begging for a job in the streets after being rejected 15,000 times in the past 10 years, according to news reports.Robin Norton, who reportedly has a masters degree in history along with several National Vocational Qualifications, walks down a road wearing a sandwich board that says “Hire me, plese?!”“Wearing the sign is a last-ditch attempt for me to get work,” says 40-year-old Norton. He says he is willing to work at any full-time job.N
May 23, 2012
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OECD trims Korean growth outlook to 3.3%
The Organization for Economic Cooperation and Development said Tuesday that South Korea’s economy will slow to 3.3 percent in 2012 from 3.6 percent in 2011 due to the deepening European debt woes.But the OECD said in its economy outlook report that the Korean economy will pick up next year to achieve 4 percent growth.In terms of global recovery, the Paris-based OECD said that it is slowly regaining momentum and that the world economy will grow by 3.4 percent in 2012 and 4.2 percent by 2013. It w
May 22, 2012
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Samsung C&T wins $726m orders
Samsung C&T Corp., one of South Korea’s leading construction and trading companies, said Tuesday it has won three overseas orders worth $726 million.The company said it secured a high-rise development and building remodeling project worth a combined $534 million in Singapore, and a $192 million hotel construction project in Mongolia.The two orders in Singapore involve construction in the Marina Center region in the city state’s central business district.The company is already engaged in 12 other
May 22, 2012
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KOTRA hosts large exhibition of Korean products in Mideast
Korea Trade-Investment Promotion Agency announced on Tuesday that it had launched the largest-ever exhibition of Korean products in Abu Dhabi, the capital of United Arab Emirates. Titled “Made in Korea UAE 2012,” the exhibition takes place at Abu Dhabi National Exhibitions Company. The three-day exhibition introduces a wide variety of products ranging from healthcare equipment to excavator. Infopia Company, IR Electric Company, Doosan Infracore Company, Caravan Engineered Structures Inc., Korea
May 22, 2012
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OECD cuts Korea's growth forecast to 3.3 pct for 2012
South Korea's economy is expected to grow at a slower pace than previously anticipated this year largely due to a weak global recovery and sluggish trade conditions, the Organization for Economic Cooperation and Development (OECD) said Tuesday.In its annual outlook report on South Korea, the Paris-based club of industrialized economies said Asia's fourth-largest economy will likely pull off 3.3 pe
May 22, 2012
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Facebook launches K-pop page
Facebook said Monday it has launched a K-pop music page to help fans of Korean pop music around the world to engage with their K-pop idols more actively. The page, provided jointly by Facebook and Korea’s largest entertainment agency SM Entertainment, will be updated with latest K-pop news and content both in Korean and English.On Monday morning at 11 a.m., Seoul time, the K-pop page delivered SM Town Concert held in Los Angeles. The page is seen at www.facebook.com/kpopmusic.(yoonmi@heraldm.com
May 21, 2012
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Cardif in Korea holds forest visit program
Just in time to celebrate family month, Cardif in Korea, the Korean life insurance branch of the global banking giant BNP Paribas, held a forest exploration program on Saturday for neglected youths. Called “Let’s Go to the Forest,” the event took place at the Myung-Dal-Li Forest School in Yangpyeong, Gyeonggi Province. The Life Insurance Social Contribution Committee and the Seoul-based nongovernmental organization Forest for Life were co-organizers. Children from the Dong-myung Child Welfare Ce
May 21, 2012
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South Korea shares civil aviation know-how with developing nations
South Korea will share advanced aviation-related policy knowhow with developing countries as part of its contribution to promoting safety and efficiency in global civilian flight services, the government said Monday.To that end, the government kicked off a six-day policy program that runs through Saturday and aims to pass on Seoul’s experiences in flight planning policies, airport construction and management to civil aviation representatives from 15 countries, the Ministry of Land, Transport and
May 21, 2012
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Industrial electricity sales slow in April
The growth of electricity consumption by South Korea’s industrial sector slowed in April from a year earlier due mainly to less working days and weaker exports, the government said Monday.Sales of industrial electricity moved up just 1.7 percent on-year to 21.22 billion kilowatt-hours in the cited month, according to the Ministry of Knowledge Economy. The gain marks a slowdown from a 9.1 percent increase a year earlier, although total output rose from 20.86 billion kilowatt-hours.Power output, h
May 21, 2012
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Seoul wary of easing rules on U.S. beef
WASHINGTON (Yonhap News) ― South Korea’s top trade official strongly indicated last week that talks on expanding American beef imports are unlikely for the time being due to the latest case of mad cow disease here.Trade Minister Bark Tae-ho stressed that public confidence in U.S. beef in South Korea is the most important factor.“Consumption of U.S. beef dramatically dropped in South Korea as this (mad cow) case dealt a complete blow to public trust,” he said in a meeting with South Korean corres
May 20, 2012
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Business group calls for eased rules on dividend tax
A leading South Korean business organization said Sunday it has requested the government soften taxation rules for dividends companies receive from their domestic and overseas subsidiaries.“Taxes on dividend income are tantamount to double taxation because they are levied after subsidiaries pay corporate taxes,” the Korea Chamber of Commerce and Industry said. “All dividends received from subsidiaries should be exempt from taxation.”Currently, South Korean companies have 30-50 percent of their d
May 20, 2012