Most Popular
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What is Hybe’s next move?
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Hopes rise for possible Gaza truce deal
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
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Seventeen shows who is the ‘Maestro’ of K-pop in greatest hits album
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Around 50% of people with disabilities aged 65 or above: report
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Korea’s car export growth slows in April
South Korea’s car export growth slowed in April as overseas sales by smaller local carmakers contracted from a year earlier, a government report showed Tuesday.Overseas vehicle shipments reached 276,639 units last month, up a modest 3.9 percent gain from 264,934 units sold a year earlier, the report by the Ministry of Knowledge Economy said.The latest tally marks the second month in a row export growth numbers fell compared to the previous month, it said.In February, exports surged 51.2 percent
May 8, 2012
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Korea’s IT exports drop 9.4% in April
South Korea’s exports of information technology products contracted 9.4 percent on-year in April due to slowdowns in the U.S. and Chinese economies and lingering eurozone woes, the government said Monday.The country shipped $12.04 billion worth of IT products last month, compared with $13.28 billion a year earlier, according to the Ministry of Knowledge Economy. However, the country posted a trade surplus of $5.72 billion as imports also fell 5.3 percent to $6.31 billion. April’s outbound shipme
May 7, 2012
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1st round of FTA talks with China delayed to May 14
Korea will hold its first round of negotiations with China on the bilateral free trade agreement on May 14 in Beijing instead of May 10 as earlier announced, Seoul’s Trade Ministry said Monday.The date was changed upon China’s request. The Korean delegation, led by the country’s chief FTA negotiator Choi Seok-young, will consist of officials from the ministries of finance, agriculture and knowledge economy.The Chinese negotiating team will be headed by Assistance Minister of Commerce Yu Jianhua.
May 7, 2012
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AMCHAM on green growth
The U.S. Chamber of Commerce will host a presentaion by an expert in the green growth industry Tuesday.The speaker is Kim Moon-duk, president and CEO of Korea Western Power Co. with 35 years’ experience in the industry. The company manages 12 percent of the power generation for Korea. Western Power facilities include conventional coal and gas plants, as well as IGCC, tidal, solar and wind generation. Their growth plans are to triple in size and must adhere to Renewable Portfolio Standards. Organ
May 7, 2012
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Toft, new CEO of Nestle Korea
Graeme Toft has taken office as the new CEO of the world’s major coffee brand Nestle Korea, the company said on Monday. Toft had gained experience through his career as the representative director of Nestle Pacific Islands, the coffeemaker said. After entering Nestle Korea through the marketing department, the new CEO took over sales and marketing operation in Japan, Singapore and Malaysia. In 2010 he was dubbed the representative director of the company’s Pacific Islands operation. The company
May 7, 2012
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Park becomes new CEO of ThyssenKrupp
ThyssenKrupp Elevator Korea said on Monday that the company has named Park Yang-chun as its new CEO. The elevator company briefly convened a board of trustees last month to approve the appointment. Park then took up the post and began his work as CEO.For the past 20 years, Park has built up his career in Hyundai Heavy Industries, LG Industrial Systems and Otis Elevator Korea. Park is an expert in strategic planning and overseas operation, according to the company. Park said that he was pleased t
May 7, 2012
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Janssen Korea aids mentally ill kids
Janssen Korea has said that it will offer scholarships to children suffering from mental disorders. The medical firm signed an agreement last week with an organization for children’s welfare to operate supporting funds worth about 190 million won ($166,700) to help mentally ill children. Over the past 24 years, Janssen Korea had been running a scholarship for economically needy children, aiding a total of 3,300 students with 3.3 billion won. After Korea extended its government-paid compulsory e
May 7, 2012
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Bosch seeks more investment, diversified products in Korea
Major automotive supplier also focuses on invention of new products, cost cutting innovationsMajor auto parts supplier Bosch is seeking to diversify its products and increase investments in Korea.“The need in Korea from the customer side is engine management systems,” Robert Bosch Korea president and CEO Hermann Kaess told The Korea Herald. “What we do with every innovation is to produce parts that consume less fuel, less emissions, that is the game.” Bosch’s Korean operation is driven by its au
May 7, 2012
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Samsung, LG claim 32% of LCD panel market in China
HONG KONG (Yonhap News) ― South Korea’s two flat-panel giants garnered an almost 32 percent share of the Chinese market in the first quarter of this year in the face of stiffer competition from Taiwanese rivals, a market report showed Monday.LG Display Co. grabbed a 16.2 percent share of China’s TV liquid crystal display panel market in the January-March period to become the third largest player there, according to Taiwan-based LCD market research firm WitsView Technology Corp. LG’s home turf co
May 7, 2012
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Coffee chains crank up prices
Franchises raise prices, draw complaints from their customersCoffee franchises are raising prices, making consumers anxious that it might cause a domino effect ahead of the summer, the high season for beverage sales. Starbucks Coffee Korea, the nation’s leading coffee franchise, announced on Thursday that it will charge 300 won more on 32 of its drinks starting Monday. Caffe Bene, which has the greatest number of stores here, also raised prices last month of the drinks sold at its main Gangnam s
May 6, 2012
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Korean inspectors fail to visit site of latest U.S. BSE case
South Korean inspectors sent to the United States to check the safety of beef failed to visit a cattle farm in central California that reported the latest case of bovine spongiform encephalopathy, an official source said Friday.Joo E-suk, head of the inspection team, said indirect contact was made with the owner of the farm through a local veterinarian.He did not elaborate on details but said the team did not visit the farm.Others said inspectors asked the veterinarian to pose questions to the o
May 6, 2012
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Economic growth slower than expected due to continued eurozone crisis: KDI
South Korea's economic growth slowed in March due mainly to the mining and manufacturing industry showing lackluster growth affected by the eurozone debt crisis, a state-run think tank said Sunday. The eurozone crisis has adversely affected South Korea's exports to slow economic growth of Asia's fourth largest economy, the Korea Development Institute report said, adding the U.S. and some other a
May 6, 2012
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Korea’s largest aquarium opens at Yeosu Expo site
South Korea’s largest aquarium opened at the 2012 Yeosu Expo site on Friday, about a week ahead of the official kickoff of the three-month-long international fair.Hanwha Engineering & Construction Corp., which built the aquarium, said the Aqua Planet is a four-story building covering 16,400 square meters and equipped with a 6,000 ton main tank.The overall size of the aquarium is two to three times larger than existing facilities in Seoul and Busan and will remain on the site after the Yeosu Expo
May 4, 2012
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Hyundai foundation offers W2b to help N.K. defectors
A Hyundai foundation pledged Thursday to give 2 billion won ($1.7 million) to help North Korean defectors better adjust to life in South Korea.The Hyundai Motor Chung Mong-koo Foundation inked the deal with the North Korean Refugees Foundation for three years of financial assistance for defectors, according to the Unification ministry.The aid is to be used to hire three medical personnel, including a psychiatrist, to help treat North Korean defectors in a government-run resettlement center.The m
May 3, 2012
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Lone Star sues Korea Exchange Bank over $49 million bill
Lone Star Funds, whose investment in Korea Exchange Bank earned it at least $4 billion, claimed in a lawsuit that the lender alone was liable for a $49 million compensation-related payment to Olympus Capital Holdings Asia. Five units of Lone Star are asking Singapore’s High Court to rule that the South Korean bank should compensate them for payments made to Olympus Capital, according to court papers filed in the Southeast Asian city. An international arbitration tribunal in Singapore ordered Lon
May 3, 2012
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Seoul plans to limit fallout of China FTA on farm sector
South Korea will draw up safeguard measures to minimize the fallout of a free trade agreement with China on its farming sector, the Seoul government said Thursday.“The close proximity of China, the similar agricultural structure and sizable difference in product prices has raised considerable concerns that an open trade arrangement will hurt local farmers,” the Ministry for Food, Agriculture, Forestry and Fisheries said in a press release.To alleviate such concerns, every effort will be made to
May 3, 2012
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SK Group expands shared-growth programs for subcontractors
SK Group announced on Thursday that its newest policies for shared-growth with its subcontractors went into effect. One of the nation’s biggest conglomerates, SK Group came up with co-prosperity projects for medium-sized and smaller subcontractors in three sectors, education, finance and technology. The new policies are meant to be supportive of the retainable management growth of SK’s subcontractors, the conglomerate said. SK Group had established a shared-growth committee in the fall of 2008 t
May 3, 2012
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Korea to start greenhouse gas emission trading in 2015
South Korea will formally start greenhouse gas emission trading in 2015 as part of its contribution to stem global warming, the government said Thursday.The Ministry of Strategy and Finance said regulating emissions could allow the country to deal with moves by advanced industrialized economies to use "green protectionism" to block trade, and overhaul the country's energy-intensive structure.Green
May 3, 2012
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Hur conferred order for agriculture, food from French Government
Hur Young-in, chairman of SPC Group, was conferred the Merit of Agricultural Chevalier at the French Embassy on Tuesday for promoting French food culture in Korea. The order was created in 1883 by the French minister of agriculture to honor those who greatly contribute to the development of French agriculture and food. French biochemist Louis Pasteur was the first to win the order. Hur enhanced the image of French baking in Korea through bakery brands, Paris Croissant and Paris Baguette, Ambassa
May 3, 2012
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Korea South-East Power signs $300m loan wih 7 banks
Korea South-East Power Co., which operates thermal power stations in Korea, borrowed $300 million in a facility which matures in 2 1/2-years, according to an e- mailed statement.The loan, which is structured as a floating-rate style note, was signed with Australia & New Zealand Banking Group Ltd., Citigroup Inc., DBS Group Holdings Ltd., HSBC Holdings Plc., Mizuho Financial Group Inc., Sumitomo Mitsui Banking Corp. and United Overseas Bank Ltd. on May 2, according to Thursday’s statement.Korea S
May 3, 2012