Most Popular
-
1
Yoon’s jailed mother-in-law excluded from latest parole list
-
2
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
-
3
Korea’s homegrown nanosatellite successfully launches into space
-
4
Nicaragua shuts down Seoul embassy
-
5
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
6
SNU profs to suspend treatment for one day
-
7
SK hynix pledges W20tr to ramp up DRAM production at home
-
8
Hybe's multilabel system tested amid conflict with Ador
-
9
Aging population to drive down Korea's housing prices from 2040: experts
-
10
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
S. Korea lowers listing rules for start-ups
South Korea's bourse operator said Thursday it will speed up the preliminary process for start-ups hoping to enter the third stock exchange to draw in more venture firms and investors to the fledgling market. The Korea New Exchange was launched two years ago to serve as an incubator for young businesses, adding to the fleet of the main bourse KOSPI and the tech-laden KOSDAQ market. To enter the third market, companies had to meet one of the following terms: capital over 500 million, over 1 b
June 11, 2015
-
Elliott claims Samsung C&T's stock sale 'unlawful'
U.S. hedge fund Elliott Management said Thursday it filed a court injunction to stop Samsung C&T Co. from selling treasury shares to chemicals maker KCC Corp., upping the ante in their showdown over a Samsung Group restructuring move. The move came a day after Samsung C&T said it will sell 8.99 million treasury shares, or a 5.79 percent stake, to existing shareholder KCC, in an apparent bid to rally friendly forces ahead of next month's shareholder vote on the merger between Samsung C&T and Che
June 11, 2015
-
Conglomerates seek to dodge rules on unfair intra-group trading: lawmaker
South Korea's leading conglomerates have taken steps to dodge the government's restrictions on unfair intra-group trading that aim to prevent market-distorting deals, an opposition lawmaker said Thursday. According to Rep. Shin Hak-yong, 13 affiliates of family-run business groups called chaebol here have been excluded from the rules as of April. These companies were on the watch list in February 2014, when the Fair Trade Commission implemented measures to prevent preferential funneling of busi
June 11, 2015
-
Overseas projects won by S. Korean builders top $700 bln
Overseas construction orders secured by South Korean builders have surpassed the $700 billion mark, 50 years after the first one, a ministry official said Thursday. With the latest order that Samsung C&T Corp. clinched in Australia last Thursday, the total amount of overseas deals stands at $700.23 billion, according to the Ministry of Land, Infrastructure and Transport. The record was reached 50 years after the first overseas deal won by a local builder in 1965. "Having retained $700 bill
June 11, 2015
-
[Newsmaker] POSCO, Daewoo Int'l clash over gas project
A crisis began escalating at Daewoo International ― the trading and overseas resource development arm of POSCO ― Wednesday following rumors that CEO Jeon Byeong-eal would quit in protest of the parent firm’s asset restructuring plan.POSCO officials declined to comment in the day, saying they would issue a statement after a decision regarding his status was made.According to industry sources, Jeon uploaded a message on the internal corporate board in May that he had sent an email to POSCO chairma
June 10, 2015
-
K-water seeks ‘Water Detente’ with N.K.
The state-run Korea Water Resources Corp., also known as K-water, is seeking to improve inter-Korean relations by pursuing various water resource development projects in the North. The K-water Research Committee for Korea Unification and the North Korea Water Society hosted a discussion Tuesday on plans to improve the North’s water infrastructure and cooperatively manage transnational rivers, with the goal of achieving a so-called “Water Detente” between the two Koreas.“As President Park Geun-hy
June 10, 2015
-
Samsung C&T defends merger plan
Samsung C&T, the construction and trading arm of Samsung Group, is hitting back at stakeholders opposing its proposed merger with Cheil Industries. On Wednesday, the Korean builder released information supporting the proposed merger, saying the move would reinforce the company against uncertainties facing the industry.Saying that the price-book value ratio of major construction firms have dropped below one due to the prolonged slowdown in the industry, Samsung C&T argued that the merger would en
June 10, 2015
-
Another Casualty of MERS: South Korea Duty Free Sales
Lotte Duty Free, South Korea’s largest operator of duty-free shops, expects revenue-growth to slow this month as the spread of Middle East respiratory syndrome damps visitor arrivals in the country.Sales growth slowed to 5 percent in the first seven days of this month, compared with an 11 percent rise a year earlier, and could worsen as the number of visitors from China drops, Lotte Duty Free said in an e-mailed statement. In addition, some Chinese tourists are cutting short their trips, it said
June 10, 2015
-
STS networks - Succeeded in commercializing lead-free radiation shielding fabric first time in Korea
Lead-free radiation protective fabric has been 100 % imported from other countries so far until SME company, STS networks, developed their own and commercialize it.Many hospitals and nuclear station employees are usually wearing lead-material radiation shielding clothing. These are very harmful to human as well as environment but there was no better solution than using expensive materials from USA. STS networks finally solved this problem for the first time in Korea.STS networks (CEO Bongwoo Lee
June 10, 2015
-
Foreign investors emerge as Samsung merger deal breakers
Foreign investors of Samsung C&T have emerged as a challenger against the merger plan with another Samsung affiliate Cheil Industries. While U.S.-based hedge fund Elliott, Samsung C&T’s biggest foreign investor with a 7.12 percent stake, is seeking allies to veto the merger at the July 17 shareholders meeting, Samsung managers are striving to call in its friends in order to secure what they call “managerial rights.” In the latest move, Elliott said Tuesday it had filed a court injunction against
June 9, 2015
-
POSCO named most competitive steelmaker
POSCO was named the world’s most competitive steelmaker for the eighth consecutive year, the steelmaker said Tuesday. World Steel Dynamics, a global steel industry researcher, put POSCO at the top of the world-class steelmaker ranking at the conference to discuss success strategies of the steel industry, which was held in New York on Tuesday. The WSD ranked 36 steelmakers from around the world by analyzing 23 categories, including production capacity, profitability, technology innovation and fin
June 9, 2015
-
Asiana gets 4th A380
Asiana Airlines, South Korea’s second largest carrier, has taken delivery of its fourth Airbus A380 on Tuesday to introduce the aircraft on its Incheon-New York route.“Asiana Airlines is pleased to increase the A380 service to New York and looks forward to providing our state-of-the-art onboard experience to passengers,” an Asiana official said. Asiana Airlines’ A380The A380 will be put into service for flights to Osaka and Hong Kong from Saturday to June 27, and then will be deployed on the In
June 9, 2015
-
[SUPER RICH] Brand names each tell their own story
Every company has a brand, and those identities are not made in haste as they are expected to be mentioned by the public for decades to come.Most of the brands have a story behind their names, be it a reflection of their business, a desire to succeed, or an inspiration from myth and literature.Denmark’s Lego is derived from “leg godt,” meaning “play well” in Danish. True to its name, Lego is currently one of the most successful toy companies in the world. According to Brand Finance, the Lego bra
June 9, 2015
-
[SUPER RICH] TonyMoly chairman, rising superrich candidate with IPO plan
2015 will be a milestone year for budget cosmetics-maker TonyMoly chairman Bae Hae-dong. The company, ranked fourth in the segment last year, is finally going public in July. A meeting with investors was held in Shanghai on Monday. “Major Chinese investors reside in Shanghai and we thought this was the right time to explain the company’s vision and prospects,” a Daewoo Securities official who leads TonyMoly’s stock-listing plan was quoted as saying to a local newspaper. If all goes to plan, the
June 9, 2015
-
Hedge fund files injunction against Samsung C&T merger
A U.S. activist hedge fund said Tuesday it filed a court injunction to stop South Korea's top conglomerate Samsung Group from merging two key units. The legal action by Elliot Management comes after Cheil Industries Co., Samsung's de facto holding company, announced a plan to take over construction and trading unit Samsung C&T Co., a move that would allow heir apparent Lee Jay-yong to tighten his grip on the conglomerate. Last Thursday, Elliot disclosed the acquisition of a 7.12 percent stak
June 9, 2015
-
KHNP vows to grow into global energy leader
The nation’s power plant operator said Monday that it aims to grow into a world leader in the energy sector on the basis of strong public trust.“Regaining public trust comes first for us to become a global energy leader,” said Lee Jong-ho, head of the engineering department at Korea Hydro and Nuclear Power.Lee made the remarks at the session of “Nuclear Technology Adding Green on Earth,” during the World Conference of Science Journalists 2015 being held in Coex, southern Seoul, until Friday. KH
June 9, 2015
-
Builders suffer from MERS scare
The Middle East respiratory syndrome outbreak is taking a toll on South Korean builders, for whom the Mideast is a major source of revenue.Worries over South Korean construction workers in the Middle East have heightened as South Korea reported the world’s second most MERS infection cases on Monday.Compounding the risk to the firms is an economic one: the potential that workers in the countries leave the workplace and home buyers will not visit model houses fearing infection.“If any one of the d
June 8, 2015
-
E-Mart challenges IKEA with new home specialty brand
South Korean discount chain E-Mart has launched home specialty brand “The Life” to compete with Swedish furniture retail giant IKEA, the company said Monday. “The Life will strengthen its foothold as a local lifestyle brand by launching stores not only in new E-Mart branches, but also in multiple shopping malls and outlets run by Shinsegae Group,” said Lee Gap-soo, CEO of E-Mart, the flagship unit of Shinsegae Group.The store will sell some 5,000 home furnishing items, ranging from bedroom furni
June 8, 2015
-
S-Oil revives spring recruitment program after 7-year break
S-Oil, South Korea’s third-largest oil refiner, has revived its spring recruitment program for the first time in seven years, as it seeks to increase its workforce in lieu of a new refinery complex set to open in Ulsan.The expanded recruitment comes as “S-Oil seeks new talents ahead of the opening of its Onsan refinery scheduled to open by 2018,” according to industry sources. The factory, for which S-Oil invested 5 trillion won ($4.45 billion), will convert heavy fuel oil ― lower in quality tha
June 8, 2015
-
Tous Les Jours enters southwest China
CJ Foodville’s flagship bakery Tous Les Jours has advanced into China’s southwest Guangzhou and Guizhou markets, the company said Monday. “By entering two additional Chinese regions, Tous Les Jours is taking one step closer to its goal of opening more than 1,000 stores in China by 2020,” a CJ Foodville official said. It is Korean bakery brand’s first foray into the two regions, which were included as footholds of the Chinese government’s New Silk Road project, the firm said. The project, initiat
June 8, 2015