Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Medical profs at top hospitals suspend surgeries, clinics
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Seoul to deploy more military doctors to fill med prof void
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Genesis, Sonata may benefit from U.S. rivals’ airbag woes
Hyundai Motor Co.’s all-new Genesis premium and Sonata midsize sedans may indirectly benefit from airbag safety issues plaguing rivals in the U.S. market, industry sources here said Monday.The speculation comes as automotive journalists in the United States and Canada get ready to vote on the three vehicles that will be considered for the coveted 2015 North American Car of the Year title to be announced in January.Of the 10 models on the current shortlist, only four manufacturers have not been c
Dec. 1, 2014
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Exports shrink 1.9% on-year in November
South Korea’s exports dropped slightly from a year earlier last month, but its trade surplus widened as imports shrank at a faster rate, the government said Monday.Outbound shipments came to $46.99 billion in November, down 1.9 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.Imports dropped 4 percent on-year to some $41.38 billion. The country posted a trade surplus of about $5.61, compared with a surplus of 4.8 billion in November 2013. It was Kore
Dec. 1, 2014
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Jeju Air poised for IPO next year
Jeju Air, the country’s No.1 budget carrier, is planning an initial public offering of its shares in the first half of 2015, industry sources said Monday. If successful, Jeju Air ― controlled by Aekyung Group ― would become the first local low-cost carrier to be listed on the stock market. Aekyung Group, a conglomerate whose businesses range from daily necessities and chemicals to department stores, is hoping to raise up to 200 billion won ($178.9 million) from the IPO, according to sources. “We
Dec. 1, 2014
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AmorePacific overhauls namesake flagship brand
South Korean cosmetics giant AmorePacific is overhauling its namesake flagship brand after failing to impress foreign customers, especially big spenders in China.The company on Monday confirmed that it had pulled the brand from its lucrative duty-free stores in Korea last month, following its recent withdrawal from Japan. Only the four stores at Incheon International Airport will be retained, it said. “It is true that the higher-priced AmorePacific brand is not as profitable as other popular bra
Dec. 1, 2014
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Carmakers’ sales up 2.2%
Car sales by five South Korean automakers moved up 2.2 percent in November from a year earlier, due to a rise in demand for new vehicles at home and abroad, and more aggressive marketing efforts by carmakers, industry data showed Monday.The combined sales of local car manufacturers reached 782,055 vehicles last month, a gain from 765,345 vehicles sold a year ago.The total excludes complete knockdown kits shipped abroad for assembly. Carmakers said new models released by carmakers such as Hyundai
Dec. 1, 2014
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LG Uplus to sell Huawei handsets in S. Korea
LG Uplus Inc., South Korea's third-largest mobile carrier, said Monday it will start selling smartphones made by China's Huawei Technologies Co. from Tuesday, the first telecom company to sell Chinese handsets in the local market. The 5-inch X3, a localized version of what's known as Huawei's Honor 6 in overseas markets, has so far been exclusively sold by Medialog Corp., a LG Uplus affiliate that rents network services from LG Uplus to provide customers with wireless access at an independent ra
Dec. 1, 2014
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Renault Samsung launches updated 2015 QM3 model in S. Korea
Renault Samsung Motors Co., the local unit of French automaker Renault S.A., said Monday that it has launched an updated version of its hugely popular QM3 mini-crossover in the South Korean market.The vehicle, whose sales have hit 16,014 units since its debut late last year, has become the best-selling foreign manufactured car sold in the country, the carmaker said.When it was launched in 2013, the 1,000 cars allocated to South Korea sold out in just seven minutes.Renault Samsung said the 2015 m
Dec. 1, 2014
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Jin Air takes delivery of first long-range B777-200ER passenger jet
Jin Air Co., the budget unit of Korean Air, said Monday that it has taken delivery of its first B777-200ER passenger jet that will open new horizons for the company and help improve customer service.The move marks the first time that a local low cost carrier (LCC) has incorporated a wide-body, long-range jet into its fleet. The B777-200ER can seat up to 355 people, compared to the 160-190 people that can be hauled by smaller aircraft in service with local LCCs. South Korea's five budget carriers
Dec. 1, 2014
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Jeju Air slated to go public next year
Jeju Air Co., South Korea's No. 1 budget airliner, is preparing for its debut on the Seoul bourse early next year to further expand its business on the back of rising demand for low-cost carriers, company officials and industry sources said Monday. Jeju Air, based on the country's southern resort island of Jeju, was established in 2006 by Aekyung Group, a South Korean conglomerate whose businesses range from daily necessities and chemicals to department stores. The carrier expanded its destinati
Dec. 1, 2014
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KAI gets top CMMI 'Level 5' rating for avionics SW, quality management
Korea Aerospace Industries Ltd.(KAI), South Korea's sole aircraft manufacturer and total systems integrator, said Monday that it has received the top "Level 5" rating in avionics software development and quality management from the preeminent U.S. systems program evaluator.The Capability Maturity Model Integration (CMMI) rating carried out by Carnegie Mellon University is an appraisal program required by companies seeking U.S. Department of Defense (DoD) and other government contracts. CMMI was
Dec. 1, 2014
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S. Korea's exports shrink 1.9 pct on-year in Nov.
South Korea's exports dropped slightly from a year earlier last month, but its trade surplus widened as imports shrank at a faster rate, the government said Monday.Outbound shipments came to US$46.99 billion in November, down 1.9 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.Imports dropped 4 percent on-year to some $41.38 billion. The country posted a trade surplus of about $5.61 billion, compared with a surplus of $4.8 billion in November 2013.N
Dec. 1, 2014
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Hyundai Genesis, Sonata may benefit from U.S. rivals' airbag
Hyundai Motor Co.'s all-new Genesis premium and Sonata midsize sedans may indirectly benefit from airbag safety issues plaguing rivals in the U.S. market, industry sources here said Monday.The speculation comes as automotive journalists in the United States and Canada get ready to vote on the three vehicles that will be considered for the coveted 2015 North American Car of the Year title to be announced in January.Of the 10 models on the current shortlist, only four manufacturers have not been c
Dec. 1, 2014
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Number of firms on watchdog's list down in Dec.
The number of business group affiliates subject to restrictions on mutual investments and loan guarantees declined in December from a month earlier, the antitrust watchdog said Monday.The Fair Trade Commission (FTC) said the number on the watch list stood at 1,675 from 63 business groups as of Monday, down 9 from the previous month.Sixteen firms including four Hyundai Motor affiliates were taken off the list following a stake sale or a merger, while seven were newly added, the watchdog said.Unde
Dec. 1, 2014
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Samsung seeks stability in personnel reshuffle amid challenges
South Korea's top conglomerate Samsung Group sought stability over risk in its first personnel reshuffle announced Monday since the hospitalization of its de-facto head Lee Kun-hee in May, with his heir taking a wait-and-see stance in expanding his presence."This year, Samsung Electronics Co., as well as many other companies suffered in their earnings compared to a year earlier,"said Samsung's top spokesman Lee June. "Therefore, we have decided to narrow the scope of personnel reshuffling."Under
Dec. 1, 2014
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KOSPO pursues shared growth in Busan
Korea Southern Power, a state-owned electric power supply company, pledged to contribute to local economic growth and support energy businesses in Busan, where it recently relocated its headquarters. The company, which is in charge of 12 percent of the country’s total electric power supply, moved its headquarters to Busan International Finance Center in October, in line with the government’s balanced national development plan. “With our move to Busan, KOSPO will seek ways to boost the local econ
Nov. 30, 2014
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[Design Forum] At Herald Design Market, design enhances lifestyle
The Herald Design Market, a sideline event of the Herald Design Forum 2014, was a rare occasion for visitors to experience how design enriches our daily lives. During the five-day event that ended Sunday, nearly 6,000 people visited the venue at the Dongdaemun Design Plaza in central Seoul. Under the theme “Design Your Life NOW,” the annual design market featured some 60 up-and-coming design and food companies this year. They also put their works and products on sale after a through screening by
Nov. 30, 2014
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KT, LG Uplus fined for "excessive" prices cuts in corporate messaging
South Korea's antitrust watchdog said Sunday that it has fined KT Corp. and LG Uplus Inc. a combined 6.2 billion won (US$5.6 million) for undermining fair market competition by excessively lowering prices of their corporate messaging services.KT and LG Uplus were fined 1.9 billion won and 4.3 billion won, respectively. The amount is preliminary and will be adjusted later after calculating related sales, according to the Fair Trade Commission (FTC).The two major mobile carriers are accused of tak
Nov. 30, 2014
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Samsung's Galaxy named S. Korea's most valuable brand for 4th year
Samsung Electronics Co.'s smartphone brand Galaxy was named South Korea's most valuable brand for the fourth straight year, a survey showed Sunday. Brandstock, a South Korean market research firm that determines rankings of the top 100 local brands, said in its latest survey that the Galaxy name retained the top spot for 2014, by getting a brand index reading of 936 points, out of a possible 1,000 points.The world's largest smartphone suffered setbacks in sales and earnings this year, mainly due
Nov. 30, 2014
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Samsung's chip sales expected to jump 15.6 pct this year
Samsung Electronics Co.'s semiconductor sales are expected to jump 15.6 percent on-year in 2014, closing the gap with industry leader Intel Corp., a global market tracker said Sunday.According to IHS Technology, Samsung chip sales are expected to reach a little over US$38.27 billion this year, up 15.6 percent from $33.11 billion tallied last year.This will push up the company's global market share to 10.9 percent from 10.3 percent in 2013, which will easily place it second in the semiconductor h
Nov. 30, 2014
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Watchdog mulls pushing again to sell Woori Bank next year
South Korea's financial authorities are considering trying again to sell a controlling stake in state-owned Woori Bank next year following the latest failure to put the lender in private hands, sources said Sunday.An auction to sell Woori Bank fell through Friday due to a lack of bidders, the government's fourth failure to privatize South Korea's No. 3 bank."There is no change in the government's stance of privatizing Woori Bank at an early date," said an official at the Financial Services Commi
Nov. 30, 2014