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The Korea Herald > Business > Industry

Huawei to build brand to beat smartphone rivals

SHENZHEN ― China’s Huawei Technologies, the world’s second-biggest telecommunications equipment maker, plans to groom its brand to boost its global smartphone sales.“What we need is to build our b...

Updated : 2014.04.24 20:52

BMW’s first full-electric car arrives in Seoul

By Lee Ji-yoonBMW’s first full-electric model, the i3, made its debut at a low-profile launching event in Seoul on Thursday. As the whole nation was still engulfed in a deep sense of grief over the d...

Updated : 2014.04.24 20:50

Hyosung Group seeks ‘socially responsible’ ecosystem

Hyosung Group, one of the biggest conglomerates in the country, has been working to ensure that children share some of the benefits of its business.“We are trying to build an environment where disabl...

Updated : 2014.04.24 20:48

‘Smallest cafe’ campaign creates new premium instant coffee market

The “smallest cafe in the world,” created by Dong Suh Foods, has taken the global coffee market by surprise, proving that there is a place for instant coffee in the world. Dong Suh Foods, the nation...

Updated : 2014.04.24 20:48

SK hynix net soars more than four-fold in Q1

SK hynix Inc., the world's No. 2 memory chip maker, said Thursday its net profit surged 348.9 percent in the first quarter from a year earlier on the back of improved sales in dynamic random access memory chips.Net profit came to 802.2 billion won ($771.7 million) in the January-March peri...

Updated : 2014.04.24 10:14

[Newsmaker] Scandalous owner family of Sewol

The Sewol sinking has opened up a long, shady scandal surrounding the ferry operator’s de facto owner, a 73-year-old mysterious businessman Yoo Byung-eon.In the 1980s, Yoo established Semo Marine Co....

Updated : 2014.04.23 20:19

Korean builders ink $6b Iraq oil refinery contract

Four South Korean construction companies said Wednesday that they formally signed a $6.04 billion contract to build a large-scale oil refinery in Iraq.The contract secured by a consortium of Hyundai Engineering and Construction, GS E&C, SK Engineering and Construction and Hyundai Engineeri...

Updated : 2014.04.23 19:56

LG Household & Healthcare considers bid for Elizabeth Arden

LG Household & Healthcare, the nation’s largest consumer goods maker, confirmed on Wednesday that it is considering a bid for cosmetics company Elizabeth Arden to expand its beauty business overseas.“The company is reviewing a couple of beauty brands on sales, including U.S.-based Elizab...

Updated : 2014.04.23 19:56

Telecom ministry to crack down on pirate phones

South Korea's telecom ministry said Wednesday it will seek a law revision to slap fines of up to 100 million won ($96,311) on those using mobile phones under borrowed names, a practice used widely in crimes and illegal activities to evade investigation.The Ministry of Science, ICT and Futu...

Updated : 2014.04.23 11:26

Daewoo E&C wins $352m subway construction order in Singapore

Daewoo Engineering and Construction on Tuesday said it had won a $352 million contract to build part of a subway line in the city-state of Singapore.The company said the contract with Singapore’s Land Transport Authority involving the construction of 3.2 kilometers of the Thomson Line sub...

Updated : 2014.04.22 20:57

Korean business failures rise in March

The number of corporate bankruptcies increased in March this year compared to the previous month due mainly to a rise in business failures in the service and construction sectors, the central bank said Tuesday.Seventy-three companies went bankrupt last month, up from the 68 compiled in Feb...

Updated : 2014.04.22 20:52

KT given breather from higher-than-expected number of retirees

South Korea's top fixed-line operator, KT Corp., is expected to get some relief from financial pressure as a significant number of workers applied for itsretirement program, analysts said Tuesday, although the effect of a streamlined workforce won't be long-lived.KT, also the country's No....

Updated : 2014.04.22 11:24

Blaze puts halt to Samsung’s financial services

Samsung’s financial services have been suspended in the wake of a fire at Samsung SDS data center, which runs the system and stores backup data from Samsung’s financial affiliates. Samsung SDS said it blocked the server at the data center to prevent data loss. Samsung Card users appeared...

Updated : 2014.04.21 21:31

SK E&C begins construction of underwater tunnel in Turkey

SK Engineering & Construction said Monday that it had started the digging work for a 5.4 kilometer underwater tunnel, known as the Eurasia Tunnel, under the Bosphorus Strait in Istanbul. The Korean builder held a ceremony to celebrate the beginning of construction on Saturday, with Turkish...

Updated : 2014.04.21 21:28

[SUPER RICH] Superrich sons-in-law

In the cutthroat business world of chaebol, sons-in-law were often considered the elephants in the room. While customs have changed so radically in Korea that it is now not uncommon to see men living ...

Updated : 2014.04.21 21:28