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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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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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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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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LS Group redoubles R&D efforts
LS Group chairman Christopher Koo (right) talks with the group’s CEO Lee Kwang-woo (center) and a participant of LS Partnership Day which was held in April at Silicon Valley in the U.S. (LS Group)LS Group has been stepping up its research and development activities with the aim of increasing its competitiveness, the company said Monday. As a part of the effort, the group is investing some 800 billion won ($718 million) to 900 billion won on R&D, core facilities and securing talented personnel, t
Nov. 24, 2014
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Fair Trade Commission to provide price information on IKEA
Korea’s corporate watchdog said Monday that it will provide detailed price information by February for IKEA products whose local prices became controversial for being more expensive than in other countries. “We plan to commission a consumer group to review prices (of IKEA products) for comparison,” Jang Duck-jin, the head of the Fair Trade Commission’s consumer policy bureau, told reporters. “The results of the price analysis will be made public no later than the end of February,” he added.The F
Nov. 24, 2014
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Half of top 100 companies report lower profit this year
Over half of the top 100 South Korean companies saw their operating profit fall in the first nine months of this year as major exporters grappled with global economic slowdown and tougher competition in major markets, data showed Monday. The combined revenue of 100 companies listed on the KOSPI market amounted to 654.7 trillion won ($588.2 billion) in the January-September period. That was down 1.6 percent from a year earlier, according to the electronic disclosure data compiled by market resear
Nov. 24, 2014
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Samsung C&T wins $459.9m Malay LNG terminal order
Samsung C&T Corp., South Korea’s largest builder and trading company, said Monday that it has won a $459.9 million contract to build a liquefied natural gas terminal in Malaysia.The deal signed with Malaysia’s Petronas Gas Berhad calls for the company to take charge of the design as well as the actual construction of the terminal.The new facility, part of the Pengerang project, will be located in Johor province and have two 200,000 cubic meter LNG storage tanks and related regasification facilit
Nov. 24, 2014
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S. Korea to launch pilot shipment via N. Korea-Russia route this week
A ship carrying Russian coal will depart from the North Korean port of Rajin toward South Korea this week in a pilot shipment aimed at gauging the feasibility of a South Korean consortium's push for a logistics project linking the two Koreas with Russia, a government official said Monday. The planned trial shipment is part of the South Korean consortium's envisioned program to bring in Russian coal via Rajin, using the newly-renovated 54-kilometer railway between the Rajin port and Russia's bo
Nov. 24, 2014
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Daewoo Shipbuilding wins order for Malaysian navy vessels
South Korea's Daewoo Shipbuilding & Marine Engineering Co. said Monday that it has obtained an order from the Royal Malaysian Navy to build six corvettes for deployment starting in 2018. The shipbuilder said the deal is subject to final approval by the Malaysian government. It did not disclose the value of the deal. Daewoo Shipbuilding won an order from Malaysia to build two training ships in 2010 and another order for three submarines from Indonesia's defense ministry in 2011. (Yonhap)
Nov. 24, 2014
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Fair Trade Commission to provide price information on IKEA
South Korea's corporate watchdog said Monday that it will provide detailed price information by February for IKEA products whose local prices became controversial for being more expensive than in other countries. "We plan to commission a consumer group to review prices (of IKEA products) for comparison," Jang Duck-jin, the head of the Fair Trade Commission (FTC)'s consumer policy bureau, told reporters. "The results of the price analysis will be made public no later than the end of February
Nov. 24, 2014
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Local brokers rush to list SPACs on S. Korea's secondary bourse
Blank-check companies that raise money for future mergers and acquisitions (M&As) have aggressively entered South Korea's secondary bourse this year, as local brokerage houses are seeking to reap higher returns through the special investment vehicle amid torpid markets, data showed Monday. A total of 13 special purpose acquisition companies, known as SPACs, have gone public in the tech-laden KOSDAQ so far this year, accounting for about 40 percent of the newly-listed stocks, according to the b
Nov. 24, 2014
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One-third of fisheries imports coming from China
One-third of South Korea’s fisheries imports up to September this year were from China, a study said Sunday, adding the figure is expected to further increase when a bilateral trade deal takes effect.The tally by the Korea Maritime Institute showed Korea imported some 959,000 tons of fisheries products in the January-September period, of which 31.6 percent came from China.In terms of value, imports from China amounted to $3.11 billion. This marks a 19.3 percent increase in volume and 18.4 percen
Nov. 23, 2014
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Samsung loses market share in mobile phones, TVs
Samsung Electronics’ global presence in mobile phones and high-end TVs declined in the third quarter while its market share in DRAMs and displays rose, industry data showed Sunday.Analysis of quarterly reports released by the tech company showed Samsung’s market share in the IT mobile sector dipping 1 percentage point to 23.9 percent in the July-September period compared to the first half of this year.The numbers based on findings by Strategy Analytics, a global research and consulting firm, als
Nov. 23, 2014
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[Herald Interview] Finnair to halve carbon emissions by 2050
Finnair, the flagship carrier of Finland, on Thursday said it will go carbon neutral by 2020 and halve its carbon emissions by 2050.In an aggressive attempt to make its operations greener, the company is set to use more planes that are fuel-efficient or run on bio-fuels, said Kati Ihamaki, vice president of the sustainable development unit at the Helsinki-based airliner, during a recent interview with The Korea Herald. “Because we are a flight company, every drop of fuel we save is directly link
Nov. 23, 2014
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S. Korean car market to grow 2% in 2015
South Korea’s automobile market will grow 2 percent on-year to record-high sales of 1.65 million units in 2015, a report by the Korea Automotive Research Institute showed Sunday.The research arm of Hyundai Motor Group said next year’s car sales will surpass the 1.64 million cars sold in 1996, the boom year for the country’s car industry.KARI said next year’s increase will stem from the growing number of older cars on the road that need to be replaced, a rise in demand for SUVs and new vehicles h
Nov. 23, 2014
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S. Korean car market to grow 2 pct to record high 1.65 mln units
South Korea's automobile market will grow 2 percent on-year to record-high sales of 1.65 million units in 2015, a report by the Korea Automotive Research Institute (KARI) showed Sunday.The research arm of Hyundai Motor Group, the world's fifth-largest automotive conglomerate, said next year's sales will surpass the 1.64 million cars sold in 1996, the boom year for the country's car industry.KARI said next year's increase will stem from the growing number of older cars on the road that need to be
Nov. 23, 2014
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Hyundai Genesis, Kia K900 win U.S. luxury car awards
Hyundai Motor Co.’s Genesis premium sedan and Kia Motors Corp.’s K900 flagship won automotive awards for excellence at this year’s Los Angeles Auto Show, the two companies said Thursday.The cars that started reaching the North American market this year have been getting positive coverage from local media and praise for their value and quality. Hyundai and Kia are corporate cousins and are flagships of Hyundai Motor Group, the world’s fifth-largest maker of cars in terms of output.Hyundai Motor A
Nov. 21, 2014
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McDonald’s Korea opens up kitchen
McDonald’s Korea has flung open the doors of its kitchen to assure consumers that fast food can indeed be made in a healthy way.Starting Friday, the Korean unit of the global fast-food chain held its two-day “National Open Day” event at some 270 outlets where customers were given a glimpse into its high-quality ingredients and sanitary food management systems.“National Open Day is designed to publicize the sternly controlled sanitization management system of McDonald’s kitchen and the premium qu
Nov. 21, 2014
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Hyundai, Kia to provide 162 cars for upcoming ASEAN-Korea summit
Hyundai Motor Co. and its corporate cousin Kia Motors Corp. will supply 162 cars for the upcoming ASEAN-Korea Commemorative Summit meeting set to take place next month, organizers for the event said Friday. The summit, to be held in Busan, aims to celebrate 25 years of constructive dialogue and cooperation between the 10-country-strong political and economic organization and Asia’s fourth-largest economy. The leaders of all the Association of Southeast Asian Nations are to take part in the two-d
Nov. 21, 2014
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People-focused design shapes offices of future
Improving performance has been the top priority for organizations all over the world, and solutions vary accordingly. “Workplace design has emerged as an important factor affecting the performance of an organization in the era of knowledge-based and technology-driven economy,’’ K. Chung, managing director of Gensler Korea, told The Korea Herald in a recent interview.U.S.-based Gensler, the world’s largest design and architecture firm, has had a consistent interest in using the power of design to
Nov. 21, 2014
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New KB Financial chairman vows to restore confidence
The new chairman of beleaguered KB Financial Group Co. vowed Friday to earn a new reputation for the country's second-largest banking group by restoring consumer confidence and diversifying its business portfolio. "KB Financial had led the South Korean financial industry a decade ago, but we failed to keep up with the market trend and allowed our competitors to take over our position," Yoon Jong-kyoo said in his inauguration ceremony."I will reorganize the company to improve retail banking busin
Nov. 21, 2014
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Sales bid for Pantech fails
The auction to sell South Korea's No. 3 smartphone maker Pantech Co. failed again Friday from a lack of bidders, the sale manager said, casting a cloud over the company's normalization.Samgjong KPMG said there were no bidders to acquire the troubled firm, although a handful of tech firms from home and abroad had previously handed in letters of intent. The bidding was originally due to be completed last month, but it was extended to open it up to more firms.Industry watchers said overseas compan
Nov. 21, 2014
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Hyundai, Kia to provide 162 cars for upcoming ASEAN-Korea summit
Hyundai Motor Co. and its corporate cousin Kia Motors Corp. will supply 162 cars for the upcoming ASEAN-Korea Commemorative Summit meeting set to take place next month, organizers for the event said Friday. The summit to be held in South Korea's largest sea port of Busan, located 453 kilometers southeast of Seoul, aims to celebrate 25 years of constructive dialogue and cooperation between the 10-country-strong political and economic organization and Asia's fourth-largest economy. The leaders of
Nov. 21, 2014